patb, the “tech bubble” in Silicon Valley already popped once, in 2000. In less than two years, residential RE in the close-in bay area communities was climbing in value again. Even during the “fog a mirror, get a loan” period (2004 – 2007), SFR listings were hard to come by in SF and the close-in bay area. As such, SF and SV weren’t impacted by the fallout of the failed exotic financing schemes anywhere near as much its inland neighbors (Sacramento, Stockton and surrounds) and Central and Southern CA.
In any case, patb, you’re in Wash DC, no? Any minor blip in prices or a random fixer popping up (or about to pop up) on the market is already being heavily watched (for YEARS now) by enterprising folks who already reside in the immediate area. So, if you were thinking on cleaning up on a “bargain” RE deal in SF, you can’t do it from where you’re sitting. These things don’t generally get put up on the MLS or get signs put in the yard (in many cases, there is no front yard, lol).
