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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: Lizzie Tudor who wrote (69473)	12/26/2006 11:35:07 PM
From: 8bits	Respond to of 306849

"don't you think you are seeing strength in the low end pricepoints for close-in areas in the bay area? Thats pretty consistent with other RE cycles in the down period is it not? Where the low end held the best." Yes, the condos near my house are actually selling for a little more now than last summer. (Could be a marketing ploy..they are only "releasing" (finishing the apartment to condo conversion..) about 4 units a month. They start at $479,000 for a one bedroom condo. The low end SFR in the more industrial areas of town have also risen in the past year (from $575K to about $650k-$700k) I have also noticed lower end duplexes in SF have risen. At the moment I am hearing about quite a few people who are receiving large signing or retainer bonuses. My stodgy Fortune 500 employer has lost quite a few people to smaller or newer companies in the past year. There seems to be a lot of money sloshing around. (A lot of liquidity chasing not enough assets..) Whether this will continue or not, I have no idea. I think higher interest rates (1.5% rise or higher..) or a recession or both could easily knock the wind out of the sails. "BTW have you looked into buying in East Palo Alto, that has got to turn and there are even more drug dealers than your place! Better prices too I think. I went to Ikea tonight there." I have looked at some of the pricing online for East Palo Alto but I don't believe the price differential is worth it. I am very very tired of high crime areas. Numerous car break ins, one house break in, and a literal scar from being attacked 1 block from my house in Oakland is enough. (Two of my room mates were also assaulted 3 years later..)