Should you wait to buy in a few years (when the market bottoms out)? San Jose Dropping https://www.zillow.com/san-jose-ca/home-values/ Mountain View Dropping https://www.zillow.com/mountain-view-ca/home-values/ Palo Alto Dropping https://www.zillow.com/palo-alto-ca/home-values/ San Francisco plateau https://www.zillow.com/san-francisco-ca/home-values/
Zillow <> market price
You know their algorithm really is a simple regression based on market prices...
Actually not. They have property level data and run hedonic regressions on houses. They must be using this to index
It’s all about Contra Costa: https://www.zillow.com/contra-costa-county-ca/home-values/
Nice plateau...
It certainly is, versus a 15% haircut
But seriously anything over 1.5M in non-premium locations is vulnerable. Look for the places where you can commute into the job center and where you can still get in significantly under that point. That means you have room to grow
Why would anyone buy in a non premium location?
Premiums the wrong word. I meant the non-oversaturated peninsula cities were the only value is how quickly you can get to your dystopian tech campus
No way I’d buy right now. Wait, it’ll go down more
The drops are reaching recession territory. I think things will continue dropping for some time, especially given the massive decrease in foreign investment
Foreign investment is almost zero now. Just wait to see what happens when they start selling...
The drops are happening in the places that it experienced euphoria highs in 2018.
Why just Bay area? You should check out other metros.
No offense, but TC and yoe?
Prices aren't nearly as important as rates. Locks that free money if you can!
Didn’t you buy a couple houses in 2018? Rationalization much LOL
Just one in 2018, and yep it's only up a little but all that matters for me is cash flow as I never sell real estate. Buy every year so have bought peaks and valleys. The rationalization is that prices rise and fall, but a 30 year fixed at 3% is wild and may never be an option again. The rate on my first every purchase was just shy of 10%. Leverageftw, real estate is a long game :) Just my .02 of course, if you are buying to flip then of course do your best to time the market.
Yes. Wait until it hits bottom and then buy
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It’s Zillow.