Mixed signals for buyers

[former SoCal]

Former Socal

I bought in the Lamorinda (East Bay of SF) in Dec 2005 after moving from Southern Cal. We bid on ~12 houses before buying one. But we never went more than $100K over asking with is why it took so long to get a house.

NOW…Prices for the same tract home as mine are going for about $50K less… asking price about the same, just no more overbidding. Sales are slower weeks instead of days or even hours.

I would say a slow down not a big drop. I am planning to buy my retirement in SD and that’s why I read this site. Someday…back in the sunshine.

[jabrwoki]

I dont know about Santa Clara/San Jose (heard it is definitely softer than deadly trio Sunnyvale/MV/PA) but the most likely explanation is the Google effect. More confirmation that this is the case is that in most cases I heard the buyers put down a lot of cash (close to 80 to 100%). In a way buyers here realize that the stock market is probably in lala-land as far as Google stock price is concerned so it is easy-come, easy-go as far as the cash is concerned. In retrospect that may not be a bad idea because I know personally people who converted their 2000 stock gains into purchasing whether in Los Altos or Carmel Valley didnt regret it.
Another anecdote, one of the open houses I toured in Pleasanton, the owner said they are moving to Napa/Sonoma to retire. Probably good move since they were trying to sell their cookie-cutter in Pleasanton for $1.3mil !! Dont know whether they were successful in the sale though. There definitely is serious price pressures on the fringes of BA RE though no seriously plunges yet. Napa/Sonoma technically is too far out for working folks though and cannot be considered part of BA RE.

[jabrwoki]

I dont know about Santa Clara/San Jose (heard it is definitely softer than deadly trio Sunnyvale/MV/PA) but the most likely explanation is the Google effect. More confirmation that this is the case is that in most cases I heard the buyers put down a lot of cash (close to 80 to 100%). In a way buyers here realize that the stock market is probably in lala-land as far as Google stock price is concerned so it is easy-come, easy-go as far as the cash is concerned. In retrospect that may not be a bad idea because I know personally people who converted their 2000 stock gains into purchasing whether in Los Altos or Carmel Valley didnt regret it.
Another anecdote, one of the open houses I toured in Pleasanton, the owner said they are moving to Napa/Sonoma to retire. Probably good move since they were trying to sell their cookie-cutter in Pleasanton for $1.3mil !! Dont know whether they were successful in the sale though. There definitely is serious price pressures on the fringes of BA RE though no seriously plunges yet. Napa/Sonoma technically is too far out for working folks though and cannot be considered part of BA RE.

[jabrwoki]

I dont know about Santa Clara/San Jose (heard it is definitely softer than deadly trio Sunnyvale/MV/PA) but the most likely explanation is the Google effect. More confirmation that this is the case is that in most cases I heard the buyers put down a lot of cash (close to 80 to 100%). In a way buyers here realize that the stock market is probably in lala-land as far as Google stock price is concerned so it is easy-come, easy-go as far as the cash is concerned. In retrospect that may not be a bad idea because I know personally people who converted their 2000 stock gains into purchasing whether in Los Altos or Carmel Valley didnt regret it.
Another anecdote, one of the open houses I toured in Pleasanton, the owner said they are moving to Napa/Sonoma to retire. Probably good move since they were trying to sell their cookie-cutter in Pleasanton for $1.3mil !! Dont know whether they were successful in the sale though. There definitely is serious price pressures on the fringes of BA RE though no seriously plunges yet. Napa/Sonoma technically is too far out for working folks though and cannot be considered part of BA RE.

[jabrwoki]

I dont know about Santa Clara/San Jose (heard it is definitely softer than deadly trio Sunnyvale/MV/PA) but the most likely explanation is the Google effect. More confirmation that this is the case is that in most cases I heard the buyers put down a lot of cash (close to 80 to 100%). In a way buyers here realize that the stock market is probably in lala-land as far as Google stock price is concerned so it is easy-come, easy-go as far as the cash is concerned. In retrospect that may not be a bad idea because I know personally people who converted their 2000 stock gains into purchasing whether in Los Altos or Carmel Valley didnt regret it.
Another anecdote, one of the open houses I toured in Pleasanton, the owner said they are moving to Napa/Sonoma to retire. Probably good move since they were trying to sell their cookie-cutter in Pleasanton for $1.3mil !! Dont know whether they were successful in the sale though. There definitely is serious price pressures on the fringes of BA RE though no seriously plunges yet. Napa/Sonoma technically is too far out for working folks though and cannot be considered part of BA RE.

[jabrwoki]

I dont know about Santa Clara/San Jose (heard it is definitely softer than deadly trio Sunnyvale/MV/PA) but the most likely explanation is the Google effect. More confirmation that this is the case is that in most cases I heard the buyers put down a lot of cash (close to 80 to 100%). In a way buyers here realize that the stock market is probably in lala-land as far as Google stock price is concerned so it is easy-come, easy-go as far as the cash is concerned. In retrospect that may not be a bad idea because I know personally people who converted their 2000 stock gains into purchasing whether in Los Altos or Carmel Valley didnt regret it.
Another anecdote, one of the open houses I toured in Pleasanton, the owner said they are moving to Napa/Sonoma to retire. Probably good move since they were trying to sell their cookie-cutter in Pleasanton for $1.3mil !! Dont know whether they were successful in the sale though. There definitely is serious price pressures on the fringes of BA RE though no seriously plunges yet. Napa/Sonoma technically is too far out for working folks though and cannot be considered part of BA RE.

[Allan from Fallbrook]

jabrwoki: My buddy that lives in Los Altos works for Intel on their Sta. Clara campus and says that the buzz about Google stock is that it is in for a downturn. Given that its presently in nosebleed range ($700+ a share), that would make sense. I also hear that some of the steam is coming out of the Google machine, and their frenetic hiring pace is slowing somewhat. Based on what he said, Google was driving housing prices in areas ranging from Mountain View through Menlo/Atherton. He mentioned a senior program engineer buying a place in Palo Alto Hills near the country club for a cool two mil in cash. Must be nice.

I’d love to grab a couple of acres in either Sonoma or Napa and build. I missed a primo chance at the end of the dot.bomb bust when I could have picked up two acres in Healdsburg for $150k. Some dot.com genius was apparently also an aspiring vinter and lost the property when his company went bust. Waited a bit too long, and missed the opportunity. Plenty of nice places for sale in those areas, and the prices are getting competitive again.

[Allan from Fallbrook]

jabrwoki: My buddy that lives in Los Altos works for Intel on their Sta. Clara campus and says that the buzz about Google stock is that it is in for a downturn. Given that its presently in nosebleed range ($700+ a share), that would make sense. I also hear that some of the steam is coming out of the Google machine, and their frenetic hiring pace is slowing somewhat. Based on what he said, Google was driving housing prices in areas ranging from Mountain View through Menlo/Atherton. He mentioned a senior program engineer buying a place in Palo Alto Hills near the country club for a cool two mil in cash. Must be nice.

I’d love to grab a couple of acres in either Sonoma or Napa and build. I missed a primo chance at the end of the dot.bomb bust when I could have picked up two acres in Healdsburg for $150k. Some dot.com genius was apparently also an aspiring vinter and lost the property when his company went bust. Waited a bit too long, and missed the opportunity. Plenty of nice places for sale in those areas, and the prices are getting competitive again.

[Allan from Fallbrook]

jabrwoki: My buddy that lives in Los Altos works for Intel on their Sta. Clara campus and says that the buzz about Google stock is that it is in for a downturn. Given that its presently in nosebleed range ($700+ a share), that would make sense. I also hear that some of the steam is coming out of the Google machine, and their frenetic hiring pace is slowing somewhat. Based on what he said, Google was driving housing prices in areas ranging from Mountain View through Menlo/Atherton. He mentioned a senior program engineer buying a place in Palo Alto Hills near the country club for a cool two mil in cash. Must be nice.

I’d love to grab a couple of acres in either Sonoma or Napa and build. I missed a primo chance at the end of the dot.bomb bust when I could have picked up two acres in Healdsburg for $150k. Some dot.com genius was apparently also an aspiring vinter and lost the property when his company went bust. Waited a bit too long, and missed the opportunity. Plenty of nice places for sale in those areas, and the prices are getting competitive again.

[Allan from Fallbrook]

jabrwoki: My buddy that lives in Los Altos works for Intel on their Sta. Clara campus and says that the buzz about Google stock is that it is in for a downturn. Given that its presently in nosebleed range ($700+ a share), that would make sense. I also hear that some of the steam is coming out of the Google machine, and their frenetic hiring pace is slowing somewhat. Based on what he said, Google was driving housing prices in areas ranging from Mountain View through Menlo/Atherton. He mentioned a senior program engineer buying a place in Palo Alto Hills near the country club for a cool two mil in cash. Must be nice.

I’d love to grab a couple of acres in either Sonoma or Napa and build. I missed a primo chance at the end of the dot.bomb bust when I could have picked up two acres in Healdsburg for $150k. Some dot.com genius was apparently also an aspiring vinter and lost the property when his company went bust. Waited a bit too long, and missed the opportunity. Plenty of nice places for sale in those areas, and the prices are getting competitive again.

[Allan from Fallbrook]

jabrwoki: My buddy that lives in Los Altos works for Intel on their Sta. Clara campus and says that the buzz about Google stock is that it is in for a downturn. Given that its presently in nosebleed range ($700+ a share), that would make sense. I also hear that some of the steam is coming out of the Google machine, and their frenetic hiring pace is slowing somewhat. Based on what he said, Google was driving housing prices in areas ranging from Mountain View through Menlo/Atherton. He mentioned a senior program engineer buying a place in Palo Alto Hills near the country club for a cool two mil in cash. Must be nice.

I’d love to grab a couple of acres in either Sonoma or Napa and build. I missed a primo chance at the end of the dot.bomb bust when I could have picked up two acres in Healdsburg for $150k. Some dot.com genius was apparently also an aspiring vinter and lost the property when his company went bust. Waited a bit too long, and missed the opportunity. Plenty of nice places for sale in those areas, and the prices are getting competitive again.

[jabrwoki]

Allan : Dont sweat it too much. More people have been wrong than right on the timing their purchase (At least that is how I console myself after missing much of the RE boom and see my savings deflate :-)). Good luck on your land hunt in Napa !

[jabrwoki]

Allan : Dont sweat it too much. More people have been wrong than right on the timing their purchase (At least that is how I console myself after missing much of the RE boom and see my savings deflate :-)). Good luck on your land hunt in Napa !

[jabrwoki]

Allan : Dont sweat it too much. More people have been wrong than right on the timing their purchase (At least that is how I console myself after missing much of the RE boom and see my savings deflate :-)). Good luck on your land hunt in Napa !

[jabrwoki]

Allan : Dont sweat it too much. More people have been wrong than right on the timing their purchase (At least that is how I console myself after missing much of the RE boom and see my savings deflate :-)). Good luck on your land hunt in Napa !

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