Bay Area Home Prices Plunge 31%
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Bay Area Home Prices Plunge 31%
Dont buy a home just yet.... Its going to get better as we head into a depression. Cash talks and banks walk!
SAN FRANCISCO (AP) ― A research firm says home prices in the San Francisco Bay area plunged 31.8 percent in August.
MDA DataQuick says in its report Thursday that the median price for new and resale homes and condos in the nine-county area fell to $447,000 last month, from $655,000 in August 2007.
The figure also marks a decline from $470,000 in July.
There were 7,232 new and resale homes and condos sold during the
month, down 0.9 percent from August 2007.
SAN FRANCISCO (AP) ― A research firm says home prices in the San Francisco Bay area plunged 31.8 percent in August.
MDA DataQuick says in its report Thursday that the median price for new and resale homes and condos in the nine-county area fell to $447,000 last month, from $655,000 in August 2007.
The figure also marks a decline from $470,000 in July.
There were 7,232 new and resale homes and condos sold during the
month, down 0.9 percent from August 2007.
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still you have to have someone give you money if it's not all cash. good luck, all the math still has to work out... my friend was buying a home in san francisco and they were asking for the typical 20% down and they came back asking for 37% a week later. 37% DOWN!!!! prices in the city haven't dropped that much. if stuff gets cheap enough i might move out of SF and actually have to commute.
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still you have to have someone give you money if it's not all cash. good luck, all the math still has to work out... my friend was buying a home in san francisco and they were asking for the typical 20% down and they came back asking for 37% a week later. 37% DOWN!!!! prices in the city haven't dropped that much. if stuff gets cheap enough i might move out of SF and actually have to commute.
Sometimes going an extra few miles is worth it.
Last edited by kYLEMtnCRUZr; Sep 18, 2008 at 06:10 PM.
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You also have to look at the us economy. With AIG needing 85 billion dollars from the government to salavge what's left. Government will print more money, which will drive down the value of the dollar, thus making everything more expansive. So it'll counter balance a little bit.
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Not really..because if you own a home to live in and not for investment, then you have nothing to worry about...unless you're loan is in a short term adjustable program, then you're Fu*(kd...
For those of you who's thinking of buying a home anytime soon, just get a 30 yr fixed program that you can afford and call it the day! It doesn't matter if value goes up or down, you're better off no matter what in the long run.
lol...
people think the sky is falling...
imo, this is just things levelling out or returning what they were before the housing "boom"...
i mean when people are paying half a million bucks for a 50 y/o house in silly-con valley, you know it was nuts...
people think the sky is falling...
imo, this is just things levelling out or returning what they were before the housing "boom"...
i mean when people are paying half a million bucks for a 50 y/o house in silly-con valley, you know it was nuts...