Are homes in the South Bay really dropping in value by 30% over 2 years?

Nov 3, 2019 54 Comments

According to zillow houses in sunnyvale have dropped by 15% in 12 months and will drop by another 15 % over the next 12 months. Can anyone living or working there verify this?

Are homes in the South Bay really dropping in value by 30% over 2 years?

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TOP 54 Comments
  • E*Trade / Finance cbEV72
    You’re looking at rear view mirror trying to see what’s coming next. It’s not a completely pointless activity but you must realize it’s limitations
    Nov 3, 2019 8
    • E*Trade / Finance cbEV72
      Oh yes. We totally do
      Nov 3, 2019
    • Amazon / Eng no email
      Good save.
      Nov 3, 2019
  • Microsoft UMbR31
    OP, you work at Compass, you should tell us...
    Nov 3, 2019 1
    • Compass HWV39
      OP
      According to my magic 8 ball the verdict is “it’s hazy try again”.
      Nov 3, 2019
  • Qualcomm libertarin
    You can no longer deduct a property tax and it's very hard to deduct much of the mortgage. The mortgage cap dropped from 1 million to 750,000 due to the Trump tax cut for billionaires and tax increase for middle class working people. The cost effectively went up by 30% for middle class to buy a house due to loss of tax deductions and tax caps on mortgage.
    Nov 3, 2019 3
    • Google QmTN21
      Property tax not a big deal. If your household makes over 300k you paid amt before
      Nov 5, 2019
    • Qualcomm libertarin
      I don't hit AMT very often
      Nov 9, 2019
  • WeWork RPvk36
    Think it will keep going down for a while. Not many reasons for rising prices right now.
    Nov 3, 2019 3
    • WeWork RPvk36
      Certainly Uber is not far behind
      Nov 3, 2019
    • Uber gfdc
      Touche
      Nov 3, 2019
  • Flagged by the community.

    • Compass HWV39
      OP
      Jesus. You’ve been stewing o. This for 8 hours? Clearly you’re with thousands. Maybe. Lol

      Pretty clear in my post. AOL. 😂
      Nov 3, 2019
    • AOL CwXk65
      Did not get you
      Nov 3, 2019
  • LeanTaaS ♥️data
    Definitely down by 10% in last one year.

    But no one can predict the future.
    Nov 3, 2019 0
  • Redfin is more accurate than Zillow. The home values have dropped by 6-7% not by 15%. Zillow's prediction is also very aggressive.
    Nov 3, 2019 0
  • Zillow Group gentle
    That neighborhood is pretty small so the results are going to be noisier. I'd suggest looking at the city level data on the chart. Look at nearby cities to get general sense of what's going on.
    Nov 3, 2019 8
    • AOL CwXk65
      Zillow also buys houses. No? Buy with Zillow, sell with Zillow
      Nov 3, 2019
    • AOL CwXk65
      Don't tell me you guys haven't figured out how to zestimate accurately. :)
      Nov 3, 2019
  • LinkedIn swdevl
    I don’t know about future, but it’s been definitely true for last one year. The prices have gone down, and the overbidding war has also reduced.
    Nov 3, 2019 1
    • Microsoft pokdhd
      That's right , not only for the bay area.
      Nov 3, 2019
  • Qualcomm libertarin
    The drop was 15% last year but it's probably bottomed out and will start going up again due to low interest rates. Personal exemptions were rolled into the standard deduction making it harder to get past the standard deduction on federal taxes when Trump change the tax law.
    Nov 3, 2019 0

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