Are we at the bottom yet? How much longer should we wait? How low we they go? These are questions being asked everyday of realtors. The buyers are wanting great deals and want us to “show them the bottom.”
The question should be where are you? Do you want a long term commitment or just a 1 night stand? If you are the committed type and are planning on being in your home for 4-5 years, then I would advise buying a home now and not waiting to see if the prices drop or do they rise. If your looking for a quickie one night stand then the local rental market is best for you.
Out of the 4,800 + single family homes available in Santa Clara County there is one just right for you. In the condo/townhouse residential area there are 1,710 on the market and 301 are pending.These are the stats from Santa Clara Residential Inventory as of 10/9/07. There are many choices for even the pickiest of buyers. It is time for the realtor’s to help the public understand that not all markets are in a bad place. Silicon Valley as usual is again above average. There are spots such as Sunnyvale, Cupertino and Mt. View where multiple offers are still common place.
So to buy or not to buy…YOU answer the question!
