It is an opportunity to buy. As mentioined in other comments pricesdropped like that in single family and condos. The criteria for financing condos in specifically has gotten tighter. They are looking at the delinquency rate, owner occupancy rate, reserves, etc. Shelter Creek is in better financial condition than most others on the Peninsula. they have always limited rental and now it is benefitting them
You might ask will they go any lower. they might. But the combination of low interest rates and low prices make today the opportune time to buy. Timing the market is near impossible. Purchasing a home is a long term investment. You are locking in your long term housing costs for 30+ years. Renting will continually go up. In the business we used to consider long term to be 3-5 years. Now it is 5-10 years.
Hope that helps
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