sure San Mateo and Santa Clara are in the bay area. The problem is these two regions are NOT up 11% from last year, for the reasons we have already discussed. The first problem is the 11% is wrong, since in 2003 (which was HOTTER than 2004) we had almost no appreciation, and the second issue is this region is not moving relative to the rest of the state.
I know real estate agents like to quote their own sources with important tiles like 'real estate news', but they are disputing the FED, who seems a little less biased don't you think?
You remind me of a real estate agent, trying desperately to defend your position.
Fed: Housing price frenzy skirts Silicon Valley
While near-record low interest rates are pushing home prices up furiously across the country, home prices in Santa Clara County were among the slowest growing in 2003 of 220 U.S. metropolitan areas considered.
California home prices overall appreciated faster than the country's in 2001, 2002, and 2003, the report shows, ranging from a low of 10.5 percent growth in 2001 to nearly 14 percent growth in 2003.
Southern California and the Central Valley enjoyed the overwhelming bulk of that growth, however. Homes in the San Jose metropolitan area, in contrast, ranked 218 of 220 metropolitan areas in the country in 2003 in terms of price appreciation. The report does not say what the San Jose growth rate was.
sanjose.bizjournals.com |
