Hawkeye's analysis was real in details. Does it make sense? Maybe. But I am tired of such analysis or prediction. Last year somebody said that there would be foreclosure houses flood to market around April or May after foreclosure gate was open on Jan 9. But I didn't see it. Then someone predicted Aug would have foreclosure peak on house market. I also didn't see it. It seemed that everybody tried to guess bank behavior. Unfortunately no one have the right guess.
Talking about the $799k house, did you visited it? I did. I didn't like it. I think the final sold price may be around $750k.Yesterday I took a look at another house.
http://www.redfin.com/CA/San-Ramon/5727-Wells-Ln-94582/home/…
It is very nice. I heard it already had two offers. Buyers are still there. But not many nice with decent price houses on the market now.
Generally speaking tri-valley house market should be similar as national house market. Since U shape economy recovery has a big chance plus high unemployment rate, it might have downward potential on tri-vally house market, but definitely NOT significant downward trend. It is limited and very slower in next two years.
That is my penny thought.
- Mon Aug 10 2009, 09:31