It sure has… at least in the SF Valley area.
3 bedroom homes prior listed at $550K a year ago are listed for $400K today.
These homes were $125K to $150K in 1997 and even if they were to double their value within ten years, they still have to come down another $150K.
Buying today is trying to catch a falling knife!
Some people claim that if you buy a home to stay put at least ten years then you will be okay. I hate to be pessimistic, how do I know that I may not need to sell prior to the market rebound.
