Now that we're in the final stretch of 2013, it is clear that the market has rebounded strongly. Demand for condos and townhomes, while not as strong for single family homes, is part of this rebound. Prices are nearing the market highs of the mid 2000's but with enough patience, there are still some good buys to be found.... more
The PV School system will always keep people moving to the Hill. The eduction is superb. Price may change a bit with this economy but nothing compared to the rest of the state or to the likes of Nevada. I sold my personal residence here in PVE 8 years ago and it would sell today for about 10% less. This is not great but quiet different from the 50% loss that is occurring in Northern California. http://www.PVHomeLink.com has a link to the current market reports for the South Bay area.
Cheers, Jill Sanders
I am not a RE agent so I don't have a conflict of interest to earn your commission.
I have been looking at PV for five years. I had decided that prices were to start declining since 06 due to the easy financing that drives speculation. With housing going into a double dip now, there will be more price compression especially in your price range due to a number of factors. Short sales and REO is finally surfacing as banks cannot hold them anymore. There are currently over 400 houses listed for sale in PV. The financing rate is low but qualifying is much more difficult as government agency is forcing banks to hold these notes rather than selling or securitizing them. There will definitely be more price compression on the high end homes versus the low end homes when affordability and financing is available. I think your 2m homes can be bought for under 1.5 if you wait and by the watt, prices will not be going up anytime soon for at least five to ten years! A good way to appraise market value is to get the annual rental rate for the home you want to buy. If you can rent it for under 4% yield net after tax ,hoa insurance etc before mortgage interest, it is better to rent than to buy. If you get over 5% maybe worth buying.... more