Ed's Blog

Recently, S&P Case-Shiller Home Price Index released a new report on home prices that ought to come as good news to home buyers. As of January of this year, home prices in the Bay area were down more than 30% from the same time last year. That puts median home prices at levels we haven’t seen since 2003!

If you’ve been waiting to buy a home, in hopes that prices will decline further, this news should nudge you to begin looking now. Of course there is always the possibility that prices will decline a bit more, but when you couple these low prices, with the ongoing incredibly low interest rates, it’s clear that this is phenomenal time to be a buyer!

Incidentally, although you’ve heard much about the “frozen” credit markets, with the new Housing Affordability and Stabilization Plan going into effect next week, we expect lending guidelines to loosen, thus beginning to “thaw” the frozen credit markets.

Give us a call today to start working on your pre-approval, and take advantage of this incredible time to be a home buyer. We can always be reached at 415-406-2330.