Home Buying in Fremont>Question Details

Ds, Home Buyer in Fremont, CA

Is this good time to buy homes in bay area or we should wait till end of year?

Asked by Ds, Fremont, CA Sat Mar 29, 2008

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17
I'm gonna do what is called bumping this thread and bringing it back to the top.
Some "Real Estate Pros" are real jackals. Err I mean Most "REP" are jackals. There are a few out there that are straight forward and nice. Now that the market is not moving as fast and furious as it was in the previous few years some of these REP's now have to work. What better way then trolling these forums and telling people what they want to hear. To quote Jack:

"Sigh... I remember during 2003 - 2006, there were realtors who kept upbidding, and even asking sellers - why is the price so low (the buyer's agent) - no I am not kidding. I saw it with my own eyes during an open house.
Remember, during every overbid, the realtor makes a lot of money - the only person who loses is the buyer.
In the Bay area, a realtor does not work. Period. People just buy what they can afford. I have yet to find a realtor who has the buyer's interest at heart. So asking questions like yours here, will simply solicit answers from already-too-rich-without-working realtors , who are just like used car salesmen.
do what you must based on your situation. It's as simple as that.
Asking a realtor if you should buy a house, is like asking a car salesman : should I buy a car?
That's their job. I personally cannot tolerate realtors.
Especially here in the BA.
People like me are highly educated, work hard,and these shmucks (most can't even speak English in the Bay Area) get a license, and drum up prices, sit back and count the dollars while buyers get screwed.
They are a necessary evil (since surprise - the seller's agent won't deal with you unless you have a realtor, though nowhere in California law does it say so)
so if you can get one you like, do the research on homes in the BA on the internet yourself, find what you can afford, and use the salesman to sign paperwork.
good luck."

I am gonna say +1 to his comment.

Noobs.
2 votes Thank Flag Link Mon May 12, 2008
Dear Jack:

You must have been burned bad, that or completely ignorant - I am guessing badly burned and how unfortunate for you've taken an entire profession of people and slandered them and justified your comments by measure of a good education.

Pretty hard to reason with someone who inspite of a 'good education' is so limited in sight.

Good Luck!
2 votes Thank Flag Link Sun May 4, 2008
Ms Davis,
Jack is 100 percent right. So called realtors are not professionals, they are horse traders. Use car sales people have a bit more intelligence. Highly educated people have to put up with ignorant and greedy people like yourself when buying a "home". You are so uneducated that you use the word "homes" instead of "houses". Don't you know the difference Ms. Agent Davis?
Flag Fri Aug 31, 2012
Sigh... I remember during 2003 - 2006, there were realtors who kept upbidding, and even asking sellers - why is the price so low (the buyer's agent) - no I am not kidding. I saw it with my own eyes during an open house.
Remember, during every overbid, the realtor makes a lot of money - the only person who loses is the buyer.
In the Bay area, a realtor does not work. Period. People just buy what they can afford. I have yet to find a realtor who has the buyer's interest at heart. So asking questions like yours here, will simply solicit answers from already-too-rich-without-working realtors , who are just like used car salesmen.
do what you must based on your situation. It's as simple as that.
Asking a realtor if you should buy a house, is like asking a car salesman : should I buy a car?
That's their job. I personally cannot tolerate realtors.
Especially here in the BA.
People like me are highly educated, work hard,and these shmucks (most can't even speak English in the Bay Area) get a license, and drum up prices, sit back and count the dollars while buyers get screwed.
They are a necessary evil (since surprise - the seller's agent won't deal with you unless you have a realtor, though nowhere in California law does it say so)
so if you can get one you like, do the research on homes in the BA on the internet yourself, find what you can afford, and use the salesman to sign paperwork.
good luck.
2 votes Thank Flag Link Sun May 4, 2008
I think you exceeded your quota of exclamation point quota. :)

It sucks that you felt cheated by buying in 2007, but this is a new year. Every area is differently and some may be turning around while others won't for awhile.
1 vote Thank Flag Link Mon May 5, 2008
I think housing market in Bay area is not bottomed yet. Current prices are not attractive enough to drive the housing market. Housing still not affordable to many here. Jobs one of the driving forces behind the Bay area pricing is slowing down and on hold. We have so far not seen any major layoff in the Bay area but there are chances if the current economic stalemate continues for 6-9 months we might see a major shake off in different sectors and housing prices might drop by 30-40% or back to 2001 levels. Then this is just my opinion and I could be wrong.
1 vote Thank Flag Link Sun Mar 30, 2008
ABSOLUTELY - I completely believe that NOW is a wonderful, in fact excellent time to consider a home purchase in Fremont. During the past month numbers increased in Fremont - sales and pending. Here is something to consider - some people are thinking that the longer they wait the better, because things are likely to continue to drop - well although it's true NO ONE can or should guarantee that the market will not continue to self correct and thus reflect in lower prices the truth is - that you will never know when the market has hit the bottom until it's already on it's climb up. So the difference between now and the end of the year may not actually amount to enough when you consider the result. As housing becomes more and more attractive to buyers - particularly first time buyers who can take advantage of many excellent loan programs the competion to buy isn't stricly between which house, but it becomes who can take action the quickest.

This is my suggestion IMMEDIATELY begin conversations with a licensed Real Estate Professional, next know exactly what you can spend by being Pre-Approved. Then refine your goals for your home, location, size, age, condition etc.

When you've reached this point you'll know for sure if NOW is right for you - or if you should off. But to abritrially decide to hold off now expecting the market to slide or worsen may NOT be in your best interest.

Good luck, please call me if I can be of any help.
Andrea Davis
(925) 824-4801- http://www.4SaleFremont.com
1 vote Thank Flag Link Sat Mar 29, 2008
Hey Johny on the spot , you literally took words out of my mouth.I recently moved from the east coast and I have been thinking about the real estate market here, houses here sell in weeks sometimes days.. I don;t think it really matters if there is a realtor or not. personally, I would look up houses on the internet and know exactly which area i want to buy and what I can afford, so why is it that no one tries selling by owner? I am so sure with the kind of demand here, if someone lists on Craigslist , Zillow or Trulia...they should get a great response and you can also avoid the extra cash (on an average 50,000) that goes to the realtor. I know for a fact that the rental market is completely done on craigslist so why not the sale market??? Just curious, Is there a law in CA that does not allow anyone to sell without a realtor?
0 votes Thank Flag Link Fri Aug 3, 2012
Wait, Wait, Wait!!!

You will thank me later...

http://patrick.net/housing/crash.html
0 votes Thank Flag Link Wed Dec 22, 2010
I've helped a few buyers into a nice townhome for just a couple hundred dollars more than thay were paying for rent on an apartment.




And they've only lost tens of thousands in equity!
0 votes Thank Flag Link Sat Mar 14, 2009
Just wait, save and rent for now. You will be better off. Find a place you like on your own buy you want to buy and get 3% off by not using an agent.
0 votes Thank Flag Link Fri Mar 13, 2009
Ds, You might want to take a look at some of these things to help you decide.......
http://www.fhfa.gov/webfiles/1282/4q08hpi.pdf

http://www.housingpredictor.com/worstmarkets.html ... http://www.housingpredictor.com/california.html

http://www.nbcbayarea.com/news/local/Bay-Area-Counties-Best-…

This is a link I think you might like......http://www.sfgate.com/webdb/foreclosures/

Hope some of this helps your decision, Dunes
0 votes Thank Flag Link Thu Mar 12, 2009
Did you notice that the only people who say it's a good time to buy are real estate agents?
Prices will keep falling, and the reason is simple, people cannot afford the prices that are offered right now in the bay area.
The only houses that go for sale are foreclosures, why, because they are more affordable.
I will wait, the market has not hit bottom yet.
0 votes Thank Flag Link Thu Mar 12, 2009
If you are buying for your residence, YES, it is an excellent time to buy! It is still considered a buyers market, and many are getting great deals. The market changes very quickly, but if you are going to keep the home you purchase for a number of years, buy now before the interest rates get any higher.
0 votes Thank Flag Link Wed Apr 23, 2008
Hi Ds,

It also depends on whether you are talking about purchasing a principal residence to live in. Because if you are going to buy it to live and enjoy, now is a good time as any.

As a buyer you have everything going for you. Interest rates have been lowered substantially in the last 2 months and the conforming rate limits have been increased. There are so many homes on the market so you have a huge selection and also be able to negotiate a good price.

No one knows where the market will be at the end of the year, whether the prices will go down further or start going back up. All I can say is that the selection of properties is generally less since people take their homes off the market for the holidays.

Since you are buying in Fremont, I can say that my listing sold in 6 days and I am also seeing a lot of homes that are going pending in Fremont sooner now than in the last few monts. So the market is definitely picking up. And you know that when homes start selling quickly the prices start going up.

If I can help in any way, please feel free to call me at 510-279-9580

Thanks

Meena Gujral
Help-U-Sell Achievers Realty
40083 Mission Blvd,
Fremont, Ca 94539
0 votes Thank Flag Link Sun Mar 30, 2008
It depends on what part of the Bay Area. In general, there are some excellent deals on REOs and short sales--especially in parts of Oakland. What are you waiting for? With interest rates as low as they are, I think that you would save money by buying now rather than paying higher interest for a lower-priced home IF prices came down any further. That's a gamble. The only way that we know if we have "hit bottom" is if prices are going back up--and then it's too late.

A few parts of the Bay Area (San Francisco notably, parts of Marin and San Mateo counties) median price is still going up! INHO, you can't go wrong buying real estate in a high-demand location.
0 votes Thank Flag Link Sun Mar 30, 2008
Maybe... It really depends on what and where you want to buy. Even in Santa Clara County alone there are a number of different markets that are not all acting in the same manner. My data shows good buyer support in Blossom Valley and a lack of buyer support in Evergreen, North Valley and Milpitas as an example. The latter communities are worth being patient with. Although the tide has turned in the former. Let us know what you are looking for and see how we can further answer this question.
0 votes Thank Flag Link Sat Mar 29, 2008
Mario Pinedo,…, Real Estate Pro in Cupertino, CA
MVP'08
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Now is a great time to buy. There is some controversy about if we have hit bottom yet, or are we already in it. The funny thing is you really cant tell untill it is already over.

If you need to buy and you find a good deal and you can negotiate an even lower price I would say go for it. There is not only a large inventory but there is some great prices. I have seen prices of homes drop tremendously! For example there is a home in the Jackson Oaks Hills in Morgan Hill that would originally be $1,025,000 and they are now asking $759,000! That is just one example of the many deals to be had.

Looking at the market now and what I have noticed is things are starting to pick up a bit. It can vary neighborhood to neighborhood. Spring is the prime time of real estate when most people buy and sell no matter what kind of market we are in. If you wait till the end of the year there is usually not as much inventory as in the spring.

Good Luck!
0 votes Thank Flag Link Sat Mar 29, 2008
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