We are seeing a lot of the same prices as 2004-5 in nieghborhoods all over the Bay Area. You can buy a small house for the same price as you could in 2004 in San Bruno right now, too!

A Shelter Creek studio would likely be the choice of a first time buyer. That market has been hit the hardest by the mortgage squeeze. The loan criteria that allowed buyers to purchase a home a few years ago is not as available or available at all. Therefore, those buyers have been taken out of the purchase market causing inventory to rise and prices to adjust.