[CITY] Real Estate News

June 5th, 2011 11:57 AM

 

Median Prices in Bay Area
(Based on MLS data for Single Family Homes   
for homes sold between Jan 2011 - May 2011 )
City Median Price (1000 dollars) City Median Price (1000 dollars)
Merced 100 Alameda 550
Stockton-South 102 Antioch 165
Sacramento 110 Brentwood 230
Modesto 113 Castro Valley 370
Stockton-North 130 Concord 275
Lathrop 136 Cupertino 930
Antioch 165 Danville 640
Tracy 173 Discovery Bay 230
Brentwood 230 Dublin 410
Discovery Bay 230 Freemont 500
Oakland 235 Hayward 255
Hayward 255 Lathrop 136
Concord 275 Livermore 330
Livermore 330 Los Altos 1325
San Jose- Alum Rock 330 Los Gatos 900
Castro Valley 370 Merced 100
Union City 370 Milpitas 440
Newark 390 Modesto 113
Dublin 410 Mountain View 900
San Jose- Evergreen 430 Newark 390
Milpitas 440 Oakland 235
Freemont 500 Palo Alto 1250
San Ramon 537 Pleasanton 588
Alameda 550 Sacramento 110
Pleasanton 588 San Jose- Alum Rock 330
Santa Clara 590 San Jose- Evergreen 430
Danville 640 San Ramon 537
Sunnyvale 790 Santa Clara 590
Los Gatos 900 Stockton-North 130
Mountain View 900 Stockton-South 102
Cupertino 930 Sunnyvale 790
Palo Alto 1250 Tracy 173
Los Altos 1325 Union City 370
City Median Price (1000 dollars) City Median Price (1000 dollars)
Merced 100 Alameda 550
Stockton-South 102 Antioch 165
Sacramento 110 Brentwood 230
Modesto 113 Castro Valley 370
Stockton-North 130 Concord 275
Lathrop 136 Cupertino 930
Antioch 165 Danville 640
Tracy 173 Discovery Bay 230
Brentwood 230 Dublin 410
Discovery Bay 230 Freemont 500
Oakland 235 Hayward 255
Hayward 255 Lathrop 136
Concord 275 Livermore 330
Livermore 330 Los Altos 1325
San Jose- Alum Rock 330 Los Gatos 900
Castro Valley 370 Merced 100
Union City 370 Milpitas 440
Newark 390 Modesto 113
Dublin 410 Mountain View 900
San Jose- Evergreen 430 Newark 390
Milpitas 440 Oakland 235
Freemont 500 Palo Alto 1250
San Ramon 537 Pleasanton 588
Alameda 550 Sacramento 110
Pleasanton 588 San Jose- Alum Rock 330
Santa Clara 590 San Jose- Evergreen 430
Danville 640 San Ramon 537
Sunnyvale 790 Santa Clara 590
Los Gatos 900 Stockton-North 130
Mountain View 900 Stockton-South 102
Cupertino 930 Sunnyvale 790
Palo Alto 1250 Tracy 173
Los Altos 1325 Union City 370

Posted by Rekha Chatwani on June 5th, 2011 11:57 AMPost a Comment (0)

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March 28th, 2011 2:44 PM
A listener on KLOK asked me a question whether it is a good time to buy a home in Bay Area now? And what will happen if they move back to India after 2 years.

In my opinion, it is a very good time for buyers, especially first time home buyers, to buy a home. The interest rates are at historically all time low. The house prices have been coming down continuously over the past 3 to 4 years. We believe that house prices have reached the bottom and will start to creep upwards slowly. So it is a very good time to buy. Investors from all over the world are flocking to buy real estate in USA as they believe that US real estate values are very low and provide a safe investment. Purchasing and holding real estate for a long time is considered a very safe form of investment for many years. Plus home ownership provides additional benefits of stability and tax savings.

Now consider what can happen after 2 years. Many people plan ahead and hope that they will go back to India and settle there. The fact of the matter is that in many cases, such plans do not materialize. The plans   change as circumstances change and many people stay in this country much longer, and some times never go back. Even if one goes back to India in 2 years does not mean that they should sell the house immediately. If the market conditions are good and it makes financial sense to sell the house, then one should sell it by all means. Otherwise, one can always rent out the property and manage it remotely. In todays age, it is very easy to manage property remotely. One can hire property management companies to look after the investment if necessary.

All investment properties are not equal. One has to select the investment homes carefully. A home in good neighborhood, good school district, and good condition is easy to rent and manage. If price is a limitation, then one should select compromise on the size but not on the quality. The other important thing to remember is the cash flow. One should only buy the home which has break even or only slightly negative cash flow. This allows one to hold on the property for a long time without breaking your bank.

Let us know, what do you think? We welcome your comments.
Posted by Rekha Chatwani on March 28th, 2011 2:44 PMPost a Comment (0)

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