Is bay area housing market going down?

Google NEOE52
May 11, 2018 45 Comments

I am seeing multiple houses in Sunnyvale sitting in market for 2-3 weeks and multiple weeks of open house. Some even lowered the listing prices

comments

Want to comment? LOG IN or SIGN UP
TOP 45 Comments
  • Google escap3
    It's probably still going up, but the rate of increase of asking prices (which were exorbitant) is doing down.
    May 11, 2018 0
  • VMware Vmfell
    Stop dreaming about things which will never happen.
    May 11, 2018 3
    • SanDisk ihmi18
      History repeats.. you need to study some finance books on how a bubble is created..
      May 11, 2018
    • VMware Vmfell
      I knew someone would need a tag to explain sarcasm.
      May 11, 2018
    • SanDisk ihmi18
      @yourmama.. I don’t expect it to crash by 50%.. but expecting it to keep going higher is the perfect recipe for crash.
      May 11, 2018
  • Google NEOE52
    OP
    I have a house booked with new builders which is supposed to be handed over end of June. I am wondering if I should go ahead and buy it even though market is going down or loose my 20k deposit that I paid ...
    May 11, 2018 7
    • LinkedIn Trumpet
      What community is this ?
      May 28, 2018
    • Google NEOE52
      OP
      Sandalwood
      May 29, 2018
    • LinkedIn Trumpet
      I had cold feet as well - it’s not gone significantly down - are you comfortable with the price per sq ft. ?
      May 29, 2018
    • Apple vVBn64
      Sandalwood is an amazing community just wait for your home you won’t be disappointed
      Jul 17, 2018
    • LinkedIn Trumpet
      I agree I live there
      Jul 17, 2018
  • Oracle / Eng ClouDev
    Maybe in Sunnyvale, where I live houses sit on the market less than 7 days.

    It’s astonishing how fast people grab these as if they are free.
    May 11, 2018 3
    • Union Bank Ghcbjn
      Where do u live
      May 11, 2018
    • Amazon whoai
      Where do you live?
      May 14, 2018
    • Oracle / Eng ClouDev
      MV/Los Altos
      May 15, 2018
  • LinkedIn 改邪归正
    We have another 3 years. Then we will dip. The dip will probably be to slightly below where prices are now.

    This will be caused by ARM resets. The people who bought in 2014 with an arm and didn't bother to refinance will be the first people under stress. Everyone afterward had a steadily worse situation. This will progress for a few years before bottoming out and reversing again.
    May 11, 2018 2
    • Airbnb Amds46
      Wow, glad I bought last year
      May 11, 2018
  • Intel / Other oral-B
    Kind of noticing too
    May 11, 2018 0
  • Oath / Other Mr T
    It should go down. It is craaazy.
    May 11, 2018 0
  • Facebook Facebooker
    May 11, 2018 7
    • Intuitive Surgical / Other
      bigpocket

      Intuitive Surgical Other

      PRE
      Google, Amazon, Salesforce, Boston Scientific, Medtronic
      BIO
      I enjoy making things
      bigpocketmore
      And you got impressed by her market research ?
      May 12, 2018
    • Facebook Facebooker
      Try searching Redfin.com for open homes more than 14 days on the market. You would get impressed/shocked as well
      May 12, 2018
    • Intuitive Surgical / Other
      bigpocket

      Intuitive Surgical Other

      PRE
      Google, Amazon, Salesforce, Boston Scientific, Medtronic
      BIO
      I enjoy making things
      bigpocketmore
      Did that for Sunnyvale and home available for more than 14 days is 2 and more than 7 days is 7
      May 12, 2018
    • Intuitive Surgical / Other
      bigpocket

      Intuitive Surgical Other

      PRE
      Google, Amazon, Salesforce, Boston Scientific, Medtronic
      BIO
      I enjoy making things
      bigpocketmore
      Milpitas only 1
      May 12, 2018
    • VMware Vmfell
      Lol since when is milpootas the benchmark ? That place stinks !!!
      May 14, 2018
  • Facebook an00b
    Are people relying on RSUs to pay their mortgages? What happens when the stock market tanks?
    May 27, 2018 4
    • Intuitive Surgical / Other
      Isrg

      Intuitive Surgical Other

      PRE
      Google, Amazon, Salesforce, Boston Scientific, Medtronic
      BIO
      I enjoy making things
      Isrgmore
      Foreclosure and I’ll buy
      May 27, 2018
    • Amazon if else
      It’d be stupid to reply on more than 10% value of RSU, infact most banks don’t even count them.
      May 27, 2018
    • VMware Vmfell
      RSU’s vest and your TC goes up and so does the approval and confidence in paying mortgage. And stock market is not tanking, so just enough of ‘what if’ !
      May 27, 2018
    • Intuitive Surgical / Other
      Isrg

      Intuitive Surgical Other

      PRE
      Google, Amazon, Salesforce, Boston Scientific, Medtronic
      BIO
      I enjoy making things
      Isrgmore
      Again if more foreclosure I’ll buy more from others
      May 27, 2018
  • Atlassian weed
    Imo, 2 weeks is a norm to get the best deal for the seller. After the open houses, it takes another 3-5 days for the seller to accept the offer and for the house to go off market (sold/contingent/pending). So yes, it can take upto 2.5 weeks for homes to go off market. It will go less than that if the seller gets a good off market deal or gets good preemptive offer. But in a market like Sunnyvale, the seller would still wait for 2 weeks to get the best offer.
    May 11, 2018 3
    • Google NEOE52
      OP
      Yes but price change is scary as that means they did not get enough interest or offers in 1st and 2nd week
      May 11, 2018
    • Atlassian weed
      Listing price in bay area is a joke.
      May 11, 2018
    • VMware Vmfell
      May have been too greedy. I have seen folks buy and sell 6 months later for 30% gain. That is acceptable as per Bay Area standards, but some greedy sellers want more.
      May 11, 2018
  • Intel / Product
    freshmonky

    Intel Product

    PRE
    Intel
    freshmonkymore
    What’s the verdict, buy or wait? I’m about to purchase a house
    May 17, 2018 1
  • Salesforce CmbP63
    @Op just two days back, somebody posted on blind with subject line: very few housing inventory but crazy prices. I agree with that. But right now, prices are lowest as it’s the beginning of summer. They will shoot up right before fall semester starts.
    May 12, 2018 0
  • Google Techmeme
    All local markets saturate and then the affordability pushes people to look at nearby neighborhoods where dollar per sqft is still low. San Carlos and Belmont might slow down while RWC is still increasing. Once RWC saturates maybe people look in North Fremont area as prices are relatively still lower than peninsula. Similar slow down might be happening in SVL. People probably going further south to San Jose or looking at parts of Milpitas
    May 12, 2018 0
  • Intuitive Surgical / Other
    bigpocket

    Intuitive Surgical Other

    PRE
    Google, Amazon, Salesforce, Boston Scientific, Medtronic
    BIO
    I enjoy making things
    bigpocketmore
    It can be season or reason. Did you see trend in other areas ? How many homes you saw ? I believe people need place to live, with more migration more traffic will add up and commute will be more painful. If you have kids or let’s say your wife works as well then living in proximity will always be proportional to comfort and happiness. So with rsu going up people are sitting on lot of funds and ready to pay, till they have jobs. A crash comes when people loose jobs but with rate at with companies expanding in Sunnyvale see beyond fang companies as well it will always be in demand and that is only reason Sunnyvale will be hot. Quite a lot family people renting because you can’t beat that proximity factor. If market dips and catch back Sunnyvale will be on top demand so if you think long term population will grow and you will end up in sweet spot in long term. If you are seasonal speculator then you can have varied perception
    May 11, 2018 0
  • Google QvCc10
    Bubble
    May 11, 2018 0

Salary
Comparison

    Real time salary information from verified employees