Market Conditions in 95020>Question Details

Jo, Both Buyer and Seller in

Will GIlroy new home (like Mesa Ridge) prices fall even more in 2008? When will it be the best time to?

Asked by Jo, Sun Apr 6, 2008

purchase a new home (I already own a home in Morgan Hill). The home prices seem to be around 750000-800000. Should I wait more to buy a house or just buy one right NOW? will home values increase in 2008 or in 2009?

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Yes they will continue to fall. I would wait until late this year (then take another hard look at the numbers) and maybe buy in early 2009 (after elections).
1 vote Thank Flag Link Tue Apr 8, 2008
Jo, the best time to buy is when you are ready. As Realtors we cannot tell you if the price of a home will increase or decrease unless we see a trend in your area. Good luck.
1 vote Thank Flag Link Mon Apr 7, 2008
Well, I see you posted this question back in April. As you can see, prices sure did fall!!
And they will continue falling. There are many factors that will contribute to this, not the least of which will be another wave of foreclosures in 2011.

This is a great time to buy a home this year, next and the next...get into investing now.
Like Warren Buffett says, when people are fearful, investors buy.
0 votes Thank Flag Link Tue Dec 16, 2008
Hello Jo,
No one knows what tomorrow holds. If I only had a crystal ball:)
If you've seen a home you like, you can negotiate an optimal price. Just make sure you're buying a home with intention of owning long term (minimum of 5 years).
Hope this helps!
0 votes Thank Flag Link Sun Apr 6, 2008
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