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

To: Live2Sail who wrote (107949)	3/5/2008 1:25:48 PM
From: John Vosilla	Respond to of 306849

I hope Lizzie isn't buying rental property in SV unless under 10 times annual rent...highly unlikely there I know<g>

To: Live2Sail who wrote (107949)	3/5/2008 1:30:49 PM
From: Lizzie Tudor	Read Replies (2) \| Respond to of 306849

I definitely think things are falling, yeah those realtors on the frontsteps.org all talk about that one place that got 50 offers or whatever but thats rare. They profiled a mixed use bldg on castro SF that got multiple offers but that place was listed at 1.2mm, anybody can see that was one heck of a bargain and whatever it would have gone for in 2005, was a lot higher than that. In my case I am bidding for either bank owned or short sale residential in Campbell on the border of Saratoga in the 750K range OR LOWER. In all cases I can see the house sold for at least 200K higher in 05. You can even find some houses in south san jose (not where I am looking) that are selling for half of what they sold for in 05, or houses that sold for 699K in 05 and are now offered for 500K. That is common. But south san jose is not "the real bay area" according to burbed. Campbell, IS, barely. Its just an investment for me, because I am concerned with the dollar. Its the same play as buying gold really, but I think they might reprice gold in another currency and it will no longer be worth buying, its really just a dollar crash play in my view. At the lower levels stuff is definitely selling.