No offense, but even though in your opinion, the homes may not be worth the million plus fee, there are plenty who are buying these homes for which the price is clearly not an issue...and it is those buyers who are setting the price. Everyone wants a bargain, but housing is rarely if ever considered a bargin by a buyer at th time of purchase. Always, the home is deemed a bargain in hind sight...the rear view mirror look.
You can minimize financial impacts by using a discount agent when buying and selling, but you won't really know the housing market or be able to judge the relative value of your home until some time has passed. So your best strategy is to buy the best home you cn afford, minimize buying or selling costs with good loans and discount realtors, hold on to the property for a t least five to seven years and then assess the value of the investment. Like any good investment, control those costs that you can control, and buy good product to minimize risks and maximize gains.
Allison James Estates and Homes
Buyer Rebates and low cost listings
If you do, you pay the price. If you are not willing to pay the price, try to buy a home elsewhere. As pointed out below, the limited inventory has put sellers firmly in the driver's seat for now.
Only you can determine what you consider value. I had an interesting conversation with a client yesterday who told me he was a year late. And I said perhaps, or are you 20 years early?
Six months from now the current prices may seem like a very good deal, but my goal is to help my buyers become experts in the price range and areas they are looking at. Buying a home involves a lot of money. I want my buyers to feel like they know more about the current market than family members, friends, or co-workers who bought a house perhaps six months ago or are sort of thinking about buying a new home.
A buyer will not have the time to know as much as a top agent but they can quickly learn enough to be a better judge than people not actively trying to buy a home.
Summehill Homes have been active in this area for many years. They build good homes and know what buyers are looking for. They often target the buyer looking for an above average new home.
Top 2 agent nationwide at Keller Williams Realty, the nations largest
Over 20 years experience
Over 1,000 homes sold in Santa Clara and San Mateo Counties