Is 2014 a good time to buy a house in the Bay Area. What do the trends look like. I see the prices going up especially with rents.

Asked by Ashishob, San Jose, CA Thu Feb 27, 2014

How is the Berryessa area in terms of where its headed in the next few years ?

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11
Huey Nguyen, Agent, San Jose, CA
Tue Mar 4, 2014
BEST ANSWER
2014 is still a great time to buy a home in the Bay Area! Prices are going up, because there are not that many homes on the market. Demand is high. However, interest rates are still low, especially when you compare historical interest rates.

I expect that home prices will continue to rise, at least through the summer, since historically, that is when many homebuyers prefer to look for homes. I also expect that the Berryessa area will get hotter with the addition of a BART station being completed in 2018 (http://www.vta.org/bart/timeline). There is also a recently constructed but popular new plaza on Brokaw that seems to draw many patrons.

Regarding rental rates, I have a few clients who get flooded with phone calls from interested potential tenants any time they have a rental property available in the Berryessa (or almost any San Jose neighborhood) area.

Good luck searching and buying a property in this property! Please contact me for more information. I can help you.
1 vote
Sam Shueh, , San Jose, CA
Sun Mar 2, 2014
check my blog on Trulia:
http://www.trulia.com/blog/sam_shueh_1/

Upswing for 3rd year in a row. Rent is going up due to people moving in the area
for jobs.
1 vote
Hi Sam,
I really liked your blog. I recently had my condo on the market (had an offer), went through contract and changed my mind after only 3 days because my partner and I were scared we would not be able to afford a home in a great san jose area (we have 2 small kids). what advise do you have for couples that want to sale and buy but are afraid of not being able to find something?
Flag Tue May 13, 2014
Hi Sam,
I really liked your blog. I recently had my condo on the market (had an offer), went through contract and changed my mind after only 3 days because my partner and I were scared we would not be able to afford a home in a great san jose area (we have 2 small kids). what advise do you have for couples that want to sale and buy but are afraid of not being able to find something?
Flag Tue May 13, 2014
Ryan Niedens, Agent, Groveland, CA
Fri Feb 28, 2014
I would say its a great time to buy. Also they are releasing another round of forecloses on the market. The bay area will continue to grow.
1 vote
Question, Ryan, you say that it is a good time to by and a release of more foreclosures. I'm guessing that these foreclosures aren't in stable areas, i.e. Benecia, Antioch, Oakland, What is your take? I'm looking for an income property in the East Bay with prospects for decent appreciation and rents. Any ideas?
Flag Sun Jul 20, 2014
Amit Singh, Agent, Milpitas, CA
Fri Feb 28, 2014
Berryesa area is probably going to see an increase in $$ because Bart is coming to the South Bay in the next few years .

http://Www.amitsinghomes.com
1 vote
Amit Singh, Agent, Milpitas, CA
Fri Feb 28, 2014
2014 is a great time to buy a home because interest rates are still very low. Analysts predict that both interest rates and home prices are on the up. Home prices are expected to go up around 5% this year and the next. Interest rates are definitely going up once the Feds eases the amount of $$ they pump in.
Www. Amitsinghomes.com
1 vote
Ruth and Per…, Agent, Los Gatos, CA
Fri Feb 28, 2014
Hi Ashish:

Right the bay area market for Homes is showing excellent strength going forward.

Check these links out:

http://www.trulia.com/blog/perry_mistry/2014/02/san_jose_cal…

Ashish, if you need help finding a place do get in touch.

Namaste.
P Mistry

408-656-5343
1 vote
Travis Jacks…, Agent, Campbell, CA
Fri Feb 28, 2014
I agree with Alex as well. Jobs continue to grow in the bay area and the housing market continues to grow as well. If there is anything I could help you with, please don't hesitate to contact me.




Travis Jackson
Century 21 M & M Associates
BRE# 01879566
tjackson@c21mm.com
http://www.408RealEstate.com
1 vote
Keith Boswor…, Agent, Oakland, CA
Thu Feb 27, 2014
Now would be the time to buy in that area. I agree with Alex. Rents are increasing so it would make no since to rent because it will cost the same as a mortgage. If you purchase now, you will benefit from prices going up because your equity will increase. This could set you up really well in the future. I know that Alex has great programs for home buyers and I would be more than happy to help you with your home search. I would like to know what would be the perfect scenario for you to purchase so I can help your dream come true. Feel free to send me an email with your ultimate wishes. My email is keith@ariserealty.com.

Warm Regards,

Keith Bosworth
Arise Realty
1 vote
Alexander Gr…, Agent, San Jose, CA
Thu Feb 27, 2014
Yes. Everything is going up and up for the bay area. Once apple starts their new construction there will be no end in sight to the rise. Email me if you need anything further.

Alex Greer
Loan Officer
NMLS #1056079

http://www.TheMortgageOutlet.com
408-352-5147
AGreer@TheMortgageOutlet.com
1 vote
Anthony Rees…, Agent, San Jose, CA
Mon Apr 7, 2014
Bottom line if you can get into a property now, compared to throwing away money on rent you are in a much better position. Tax benefits, refinancing options, rent your new home, use the home as a trading piece, you definitely have more advantages of being a home owner than a renter. If you are paying the same as a mortgage and have the means to get into a home I say go for it, but do your research. I have articles on my website that might help a lot of your answers.

Respectfully,

Anthony Reeser, MS
Realtor
DRE # 01420150
Grobecker & Co. Real Estate
505 Montgomery St. 11th Floor
San Francisco, CA 94111
Direct Line - (415)900.8787
http://www.anthonyreeser.com
http://www.grobeckerco.com/anthonyreeser
0 votes
Erica Glessi…, Agent, San Jose, CA
Sun Apr 6, 2014
I love my Berryessa home location in a trio of exceptional schools. I would look carefully at the schools if you are seeking to have a long term solid investment. Berryessa is stronger now than it has been in a few years, and rents are climbing with low inventory and low crime.

I moved here in 1995, and my kids are happy here. We can walk to Piedmont Hills High School, it feels safe here. It is probably among the lowest priced areas for 875-925 API schools.

I also like the area of Santa Clara with Cupertino schools (95050) but that's about $300K more for the same size. Evergreen also has strong trios of schools, also about $200K more for the same size home.

Two down sides: the homes here run small with about 1500 SF very "normal" even on a 4BR 2BA. The 2500SF home is more rare...also the homes run older, we don't have a lot of new construction. So homes here you normally might want to roll up your sleeves -- unless the home has been remodeled top to bottom. You see a lot of partial remodels, where a 1959 home has been given a new kitchen and baths but still has work to be done to be "easy" to maintain.

Milpitas (nearby) has newer construction in some areas, with more shopping ops than Berryessa, but the high school isn't quite as strong as Piedmont Hills High School by test scores. You can find very strong elementary and middle schools in Milpitas and homes run in similar pricing to Berryessa.

Good luck!

Erica
0 votes
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