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If you're thinking about buying, do it now

Original post made on Mar 27, 2009

With all the angst over real estate these days, prospective buyers might think it's wise to wait a while before "moving up" to a bigger house or even making that first-time leap into home ownership. They're wrong.

Read the full story here Web Link posted Friday, March 27, 2009, 12:00 AM

Comments (4)

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Posted by Homeowner
a resident of Another Pleasanton neighborhood
on Mar 27, 2009 at 6:35 am

If you're thinking about buying, do it now

Self-serving Real estate veteran says anything to mislead you into believing this is opportune time for Pleasanton, Tri-Valley home buyers.

Until Pleasanton sellers start pricing their houses at 1999 prices, do not even think about buying.

How many Pleasanton home sales are listed in this week's PW - exactly zero!

"Starting to work our way out of it?" Please.

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Posted by Res
a resident of Donlon Elementary School
on Mar 27, 2009 at 12:26 pm

Its still got a ways to go, just wait the foreclosure rates are only increasing as people lose their jobs and can't make payments on their houses they bought in the over inflated market with "creative" loans.

If I buy a house it probably won't be in Pleasanton, despite having lived here most my life, I just can't see the value when a house in a good area of another city costs the same as a small townhome here.

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Posted by -r-
a resident of Mariposa Ranch
on Mar 28, 2009 at 8:14 am

The recession will likely end this year, and unemployment will likely continue to increase for a while. Local home prices might go either way, but you'll very likely not see mortgage rates like these next year, and five years from now lots of folks will likely regret not taking advantage of these. Did everyone here sleep through the Carter presidency?
Why buy a smaller home or condo in a nicer town, rather than a big box in the central valley? Two answers: schools and community. If you can buy a house for 200K less somewhere else, but end up sending 2.3 kids to private school for 12 years, you'll end up spending over 400K in tuition.
Buy local stuff and support local merchants. Buy stuff made in the US, so folks get to keep their jobs, and who knows, maybe your kids, nieces and nephews will have jobs when they grow up. If you really try, you can even buy tennis shoes made in the US. Save a little every month and invest it. You can do your part in turning this around.

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Posted by do it now...
a resident of Another Pleasanton neighborhood
on Mar 31, 2009 at 8:44 pm

...and then watch your home value plunge another 30% in the next year...

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