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Answers (4)
- real estate mike
- Contributions:2001
Stop looking at the $1.2-1.3+ houses, won't do you any good to wish. Look at the $900k-$1mill homes and negotiate well. Good luck.
- Homegajata
- Contributions:3
Thank you so much for your answers.. they really help. I will be more patient and keep a watch on the market. Thank you.
- Eric Patterson, "Eric Patterson"
- Contributions:27
Joe makes a good point, winter time is a great time to buy.
Here's a chart from Housing Watch with more information showing San Francisco's inventory and recent asking prices.
http://www.housing-watch.com/regionview.aspx?city=San-Francisco&pct=75&g=m
Here's a chart from Housing Watch with more information showing San Francisco's inventory and recent asking prices.
http://www.housing-watch.com/regionview.aspx?city=San-Francisco&pct=75&g=m
- Joe Salcedo, "Jojiet"
- Contributions:254
Frustrated buyer,
I understand where you're coming from. Some highly informed buyers here in Reno feel the same way--that prices have a long way to go.
But as I did a quick study on the Bay Area Market (supply and demand): http://blog.redfin.com/sfbay/2009/01/a_look_at_bay_area_supply_and_demand.html
(click the link above)
It seems that more buyers are getting in the market while supply is going down. I suspect this is the reason why you are having a hard time finding a house.
Another reason is it's summer time. Buyers are a lot active when it's hot outside.
So here's what you can do:
--Wait 'till winter. Patience is the key. This is easier said than done. But I don't see any big downside when you wait 'till winter. But be disciplined in paying attention on what's happening in the market.
--You can buy now. But expect to meet competition. And to pay more than the asking price on the really really good deals.
Hope it helps.
-Joe
http://RenoHomeBlog.com
I understand where you're coming from. Some highly informed buyers here in Reno feel the same way--that prices have a long way to go.
But as I did a quick study on the Bay Area Market (supply and demand): http://blog.redfin.com/sfbay/2009/01/a_look_at_bay_area_supply_and_demand.html
(click the link above)
It seems that more buyers are getting in the market while supply is going down. I suspect this is the reason why you are having a hard time finding a house.
Another reason is it's summer time. Buyers are a lot active when it's hot outside.
So here's what you can do:
--Wait 'till winter. Patience is the key. This is easier said than done. But I don't see any big downside when you wait 'till winter. But be disciplined in paying attention on what's happening in the market.
--You can buy now. But expect to meet competition. And to pay more than the asking price on the really really good deals.
Hope it helps.
-Joe
http://RenoHomeBlog.com
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