She's got a point. Silicon Valley has an incredibly iron-clad economy. It's been one of the last areas to tighten its belt during the housing crisis, and it'll be one of the first back on its feet. The reason--plenty of jobs, and most people have them.
Biglarderi says in 20 years of real estate, she's never seen a Buyer's market this strong. She calls it the "Perfect Storm" and relates what we've all been seeing--attractive interest rates, large numbers of houses on the market, and sellers ready to make some pretty hefty concessions. It's also pretty easy to lock a loan as long as you've got a good job, good credit, and some cash stashed in a savings account. Because Silicon Valley isn't likely to see a significant long-lasting downturn in the economy, investing now, while a lot of houses are on the market and things aren't as expensive as usual is definitely worth considering and will likely pay off.
The areas that aren't necessarily part of this perfect buyer's storm are in those resistant pockets of Santa Clara County (Palo Alto, Los Altos, Cupertino, parts of Sunnyvale) where properties still get multiple offers and often sell for much higher than the list price. It's probably not a good idea to swoop into any of these areas in search of the perfect investment. Other parts of Santa Clara County, however, are up for grabs.
No comments:
Post a Comment