Bay Area Market State of Affairs
What would you say to a new investor who wanted to make his first deal in San Francisco in the current market? Woah, pump the breaks! Or- go for it, while it's cold season and you can leverage the lower demand. And before rates go up. What other factors would you consider? Cheers!
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- Realtor
- Oakland, CA and a Real Estate Investor with Multi-Family Units and a Self Storage Facility
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Michael........I know countless people who over the decades have said....I don't want to buy now because prices are too high (while the rates are basically the lowest).............those same people years ago when prices were down also said they didn't want to buy because rates were too high.
The average cost of a house in the B+ areas of San Francisco was $350,900 in 1990.............and the interest rate was about 10.13%.
About 9 years before that the interest rate was about 16.83%.
Get pre-approved with a lender, now....and then let that be your guide on what to do and where to do it.