James Peterson

I'm sorry Ed, but the last Housing crash in the mid-eighties was caused by the Government pulling the Tax-incentives from real estate followed up by the Savings and Loan crash of the early 90's. Trying to predict the market from History is imposible.

"If past history was all there was to the game, the richest people would be librarians" Warren Buffet


Real Estate is Very Location Specific. You can shout out #'s such as "In my area homes have dropped $100,000 - $200,000 " Well in Cupertino prices have appreciated by as much as 8% year over year. In South San Jose the prices have dropped nearly 30% yet in the last month sales #'s have increased to '04 levels indicating that foreclosures and short sales are being absorbed.

If you're trying to time the market you're more than likely to wind up frustrated and confused. Warren Buffet once said “I have no idea on timing. It's far easier to tell what will happen than when it will happen"
We all know the market will come back but to say when is impossible.

I know there are incredible opportunities for investors right now and home buyers need to figure out what it is they want rather than trying to time the market. - Sat Aug 23 2008, 19:34

Their are some great First Time Home Buyer programs that have just recently come out. I think your first step should be talking directly to a lender that specializes in FHA and First Time Home Buyer programs. In a matter of 45 minutes you will know 1. What you can afford 2. How much you need to put down (or save up for a down payment) 3. What kind of loan product works best for your situation. 4. What all the costs associated with home ownership are and what is tax deductable.

I'd be happy to Refer you to a very honest and caring Broker that I trust to take care of all my clients. He is in the Campbell area and would be happy to come to your home to make things more convienient for you. Just email me when you're ready: james@wbreal.com

As an expert Realtor in your area I'd be happy to interview with you and show you how I can save you thousands when finding a purchasing your home as well.

Regards,

James Peterson - Sat Aug 23 2008, 18:55

If you want all listings in your area search mlslistings.com. This is the local Broker MLS and has all listings that any Realtor would be able to search for you. If you would like to recieve listings that pop up in your area automatically sign up using the link below. I also have an exclusive REO/Short Sale sheet that I can put you on as well.

Regards, James - Sat Aug 23 2008, 18:41

I think your best option would be to use a broker. They have the option to shop multiple lenders for you for the perfect product that fits your needs. You can also shop lenders yourself. You should really find yourself a broker that has experience and the ability to close your loans quickly and recommend products depending on your situation up front. What part of the South Bay are you looking to buy?

James - Sat Aug 23 2008, 18:32

Just and FYI Brad: at a rate of 200/mth it would be 10 months to sell 2000 homes not 100 months. Do not rely on the media for your area information. Look at the real #'s. What is the absorbtion rate, that will determine the days of inventory you have. Things are actually improving in Santa Clara county. Inventory has gone from 340 days+ (In January) down to 233 days last month. I've heard similar #'s from your neighbors in Antioch so Tracy is soon to follow. Once prices hit that magical # where it is "AFFORDABLE" more people will start buying and things will correct. A 50% decline in prices is unnatural and can not last. It is more or less a 'correction' from massive appreciation the central valley experienced over the last 5 years. I don't see it being a declining market in Tracy for more than another year or two. - Sat Aug 23 2008, 18:20