For San Francisco home buyers, how do you know it's the right time to buy a home?
Real estate prices in San Francisco are down about 20% from the peak of the market (more or less depending on the neighborhood and type of property). We've been in the downturn for about 3 years already. There are genuine signs of life like increased transactions and the return of multiple offers. Many economists are now saying that now is most definitely the time to buy IF it's the right time for you.
Like who? Kenneth Rosen, Chair of the Fisher Center for Real Estate and Urban Economics at UC Berkeley Haas School of Business for one!
He's pretty esteemed and not even a Realtor, like me, whose job is to cheer-lead, right? Okay, I'm not really much a cheerleader. I was more the "alternative" type in high school. You know, smoking cigarettes, going to raves, wearing Doc Marten's & Betsey Johnson, and generally, acting cooler than thou.
So, how do you know it's the right time to buy?
Consider these questions: Do you like the home? Can you imagine living in it for about 5 or more years? Can you afford it? Do you feel relatively secure in your job and job prospects? If you answered yes, it is probably time. Now, hop to it!
But first, watch these neat videos! Start with "Recognizing the bottom."
(Learn more about buying, selling and financing
real property. Click on the link to view video
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