Anyone see the Bay Area Prices going any lower in the near future??

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James Hamling
Real Estate Broker · Minneapolis, MN · Member since 2011 · 5k+ posts · 6k+ votes
3y
Quote from @Luka Milicevic:
Quote from @Stanley Spencer Alcorn:

Was wondering if home prices in the bay area will get lower in the future or is it best to relocate to another area?


 It's best to relocate everything out of CA


 Oh come on Luka, what would make one say that....... 

Well, yeah, ok, but I mean besides all that it's a pretty great place to be, right.... I mean, who doesn't have to dodge a few needles and hobos on walk to the park, right. Keeps life "spicy"..... 

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  • Andrew Cypert
    Member since 2023 · 7 posts · 5 votes
    3y

    It doesn't seem like Bay Area prices will go much lower than they are right now. They've gone down significantly (15-20%) in the last year, so now would be a good time to invest if you're looking to stay in the area. They will start rising soon and it seems like it'll start to flip back to a seller's market relatively soon. Bay Area homes will always increase in value, but there are a lot of young people looking to move out-of-state in order to buy a house. There are tons of great opportunities out of California to invest and live in. I've heard Bend, OR, Nashville, TN, and Missouri are hot places right now. If you want to stay in California though, Sacramento and Humboldt counties are great spots that people are moving to from the Bay Area. 

    2Reply
  • Nicole Masters
    Realtor · Sacramento, CA · Member since 2019 · 242 posts · 152 votes
    3y

    I'm from Oregon, and Bend is a beautiful place to live, and it is super expensive as well. I live in the Sacramento market and it's more affordable than the Bay Area for sure, but we have had a ton of people from the Bay move up here in the past couple of years which has driven up prices a lot.

    0Reply
  • Ranjit Sandhu
    Real Estate Broker · Rocklin, CA · Member since 2020 · 221 posts · 83 votes
    3y

    It's hard to tell but just saw on FB one of realtor friend posted that their offer was accepted $15k lower than asking price in Bay Area that is a good sign. Have you looked at off market properties? They can be bought cash or thru private lender. If you ever interested in relocation in my area of north of Sacramento, let me know. I'm in Rocklin/Roseville area.

    0Reply
  • Luka Milicevic
    Real Estate Agent · Nashville, TN · Member since 2015 · 2k+ posts · 2k+ votes
    3y
    Quote from @Stanley Spencer Alcorn:

    Was wondering if home prices in the bay area will get lower in the future or is it best to relocate to another area?


     It's best to relocate everything out of CA

    3Reply
  • Jacob GomesBusiness Member
    Real Estate Consultant · Nashville · Member since 2020 · 70 posts · 22 votes
    3y
    Quote from @Andrew Cypert:

    It doesn't seem like Bay Area prices will go much lower than they are right now. They've gone down significantly (15-20%) in the last year, so now would be a good time to invest if you're looking to stay in the area. They will start rising soon and it seems like it'll start to flip back to a seller's market relatively soon. Bay Area homes will always increase in value, but there are a lot of young people looking to move out-of-state in order to buy a house. There are tons of great opportunities out of California to invest and live in. I've heard Bend, OR, Nashville, TN, and Missouri are hot places right now. If you want to stay in California though, Sacramento and Humboldt counties are great spots that people are moving to from the Bay Area. 


    As an agent and an investor in Nashville, here are my thoughts about Music City. 

    You're gonna wish you got in 5 years ago, when home prices were 33% cheaper. 

    However, in 5 years, you will have wished the same if you don't move some cash into this market. 

    This city is booming, cranes littering the downtown area, fortune 1000 companies constantly announcing relocating or establishing presences in Nashville, etc.  

    We used to be a cool, hip little country town. 

    Now we're a booming metropolitan with tons of future growth almost guaranteed. 

    615-968-9539
    1Reply
  • Carlos Ptriawan
    Member since 2019 · 7k+ posts · 4k+ votes
    3y
    Quote from @Stanley Spencer Alcorn:

    Was wondering if home prices in the bay area will get lower in the future or is it best to relocate to another area?


    Price already rising 10 percent from January 

    1Reply
  • Carlos Ptriawan
    Member since 2019 · 7k+ posts · 4k+ votes
    3y
    Quote from @Luka Milicevic:
    Quote from @Stanley Spencer Alcorn:

    Was wondering if home prices in the bay area will get lower in the future or is it best to relocate to another area?


     It's best to relocate everything out of CA


     And then move to Hawaii for good LOL 

    1Reply
  • Carlos Ptriawan
    Member since 2019 · 7k+ posts · 4k+ votes
    3y
    Quote from @Stanley Spencer Alcorn:

    Was wondering if home prices in the bay area will get lower in the future or is it best to relocate to another area?


     Also You should really visit open house to understand your competition

    0Reply
  • Andreas MuellerBusiness Member
    Real Estate Agent · Nashville, TN · Member since 2019 · 407 posts · 181 votes
    3y

    Bay Area is lovely, but not appreciating like other areas and if you want to find a place to renovate and force appreciate costs to do so are way out of wack. Highly recommend investing in other long distance markets. Tenant laws are also bringing down values even if you aren't renting the property because buyers have to consider those laws when buying properties.

    I'm totally biased, but I moved from the Bay Area to Nashville and still own in both. I am no longer investing in the Bay. Highly recommend Nashville, Rawley, Tampa, Denver, Charleston etc...Happy to chat too if I can be helpful, DM me !

    THE Investor Agent and Management: For Investors by Investors
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    0Reply
  • Carlos Ptriawan
    Member since 2019 · 7k+ posts · 4k+ votes
    3y
    Quote from @Andreas Mueller:

    Bay Area is lovely, but not appreciating like other areas and if you want to find a place to renovate and force appreciate costs to do so are way out of wack. Highly recommend investing in other long distance markets. Tenant laws are also bringing down values even if you aren't renting the property because buyers have to consider those laws when buying properties.

    I'm totally biased, but I moved from the Bay Area to Nashville and still own in both. I am no longer investing in the Bay. Highly recommend Nashville, Rawley, Tampa, Denver, Charleston etc...Happy to chat too if I can be helpful, DM me !


     San Jose appreciates 12% MoM in last two months. The bottom is gone.

    1Reply
  • Tyler Katen
    Realtor · Bay Area · Member since 2020 · 7 posts · 3 votes
    3y

    I'm an active agent in Santa Clara County. Inventory locally across our county has been trending upwards but we're still low all while demand is high despite elevated interest rates. We did see the biggest decline Q4 of last year, some areas seeing anywhere from a 15-20% decline. Prices have however been creeping back up after the new year when many buyers re-entered the market. I'm working with a few active buyers right now and the homes we've written offers on recently have received multiple offers (one home in Milpitas had 40+), most going for on average $50-$100K over list price. Even open house activity has picked up, most homes are seeing 10+ groups each day (Sat/Sun). It may not be the same in other parts of the Bay Area, but the South Bay and Silicon Valley are hot right now. Hope this information helps, from someone who has boots on the ground ✌

    0Reply
  • Andreas MuellerBusiness Member
    Real Estate Agent · Nashville, TN · Member since 2019 · 407 posts · 181 votes
    3y
    Quote from @Carlos Ptriawan:
    Quote from @Andreas Mueller:

    Bay Area is lovely, but not appreciating like other areas and if you want to find a place to renovate and force appreciate costs to do so are way out of wack. Highly recommend investing in other long distance markets. Tenant laws are also bringing down values even if you aren't renting the property because buyers have to consider those laws when buying properties.

    I'm totally biased, but I moved from the Bay Area to Nashville and still own in both. I am no longer investing in the Bay. Highly recommend Nashville, Rawley, Tampa, Denver, Charleston etc...Happy to chat too if I can be helpful, DM me !


     San Jose appreciates 12% MoM in last two months. The bottom is gone.

    Def appreciate that point of view, but a month over month stat is probably not telling. I would advise folks to look at a 5+ year timeline, just like if you were buying another asset like a stock. And again, cost to renovate in CA is triple that of the cities I mentioned above. And we haven’t even talked about tenant laws and permitting restrictions/costs.  I own in the Bay Area and in several cities mentioned. I would stand by my recommendation to invest elsewhere.

    THE Investor Agent and Management: For Investors by Investors
    WebsiteView Page
    1Reply
  • Carlos Ptriawan
    Member since 2019 · 7k+ posts · 4k+ votes
    3y
    Quote from @Andreas Mueller:
    Quote from @Carlos Ptriawan:
    Quote from @Andreas Mueller:

    Bay Area is lovely, but not appreciating like other areas and if you want to find a place to renovate and force appreciate costs to do so are way out of wack. Highly recommend investing in other long distance markets. Tenant laws are also bringing down values even if you aren't renting the property because buyers have to consider those laws when buying properties.

    I'm totally biased, but I moved from the Bay Area to Nashville and still own in both. I am no longer investing in the Bay. Highly recommend Nashville, Rawley, Tampa, Denver, Charleston etc...Happy to chat too if I can be helpful, DM me !


     San Jose appreciates 12% MoM in last two months. The bottom is gone.

    Def appreciate that point of view, but a month over month stat is probably not telling. I would advise folks to look at a 5+ year timeline, just like if you were buying another asset like a stock. And again, cost to renovate in CA is triple that of the cities I mentioned above. And we haven’t even talked about tenant laws and permitting restrictions/costs.  I own in the Bay Area and in several cities mentioned. I would stand by my recommendation to invest elsewhere.


     10 year appreciation in bay area is still not violating 5.764% appreciation rate. But it is the second state in US though. The first appreciation rate is still in Hawaii. 

    Yes I would invest elsewhere, like in Hawaii, because it appreciate even more there LOL

    0Reply
  • Carlos Ptriawan
    Member since 2019 · 7k+ posts · 4k+ votes
    3y
    Quote from @Tyler Katen:

    I'm an active agent in Santa Clara County. Inventory locally across our county has been trending upwards but we're still low all while demand is high despite elevated interest rates. We did see the biggest decline Q4 of last year, some areas seeing anywhere from a 15-20% decline. Prices have however been creeping back up after the new year when many buyers re-entered the market. I'm working with a few active buyers right now and the homes we've written offers on recently have received multiple offers (one home in Milpitas had 40+), most going for on average $50-$100K over list price. Even open house activity has picked up, most homes are seeing 10+ groups each day (Sat/Sun). It may not be the same in other parts of the Bay Area, but the South Bay and Silicon Valley are hot right now. Hope this information helps, from someone who has boots on the ground ✌


     with this rate by 2024 we would exceeded 2022 May level, I sold mine higher than 2022 level price just a month ago LOL.

    With rate as low as high 4, everyone is in buying mode again LOL

    1Reply
  • Carlos Ptriawan
    Member since 2019 · 7k+ posts · 4k+ votes
    3y
    Quote from @Andreas Mueller:
    Quote from @Carlos Ptriawan:
    Quote from @Andreas Mueller:

    Bay Area is lovely, but not appreciating like other areas and if you want to find a place to renovate and force appreciate costs to do so are way out of wack. Highly recommend investing in other long distance markets. Tenant laws are also bringing down values even if you aren't renting the property because buyers have to consider those laws when buying properties.

    I'm totally biased, but I moved from the Bay Area to Nashville and still own in both. I am no longer investing in the Bay. Highly recommend Nashville, Rawley, Tampa, Denver, Charleston etc...Happy to chat too if I can be helpful, DM me !


     San Jose appreciates 12% MoM in last two months. The bottom is gone.

    Def appreciate that point of view, but a month over month stat is probably not telling. I would advise folks to look at a 5+ year timeline, just like if you were buying another asset like a stock. And again, cost to renovate in CA is triple that of the cities I mentioned above. And we haven’t even talked about tenant laws and permitting restrictions/costs.  I own in the Bay Area and in several cities mentioned. I would stand by my recommendation to invest elsewhere.


    Also due to what's happening (immigration,covid,etc), so bay area becomes relatively cheaper compare to buy ; compare to Wyoming, Austin or Tampa Florida or even Sacramento. It's hard to mention that bay area is relatively so affordable now LOL, good time to buy thanks to the Fed LOL.
    0Reply
  • James Hamling
    Real Estate Broker · Minneapolis, MN · Member since 2011 · 5k+ posts · 6k+ votes
    3y
    Quote from @Luka Milicevic:
    Quote from @Stanley Spencer Alcorn:

    Was wondering if home prices in the bay area will get lower in the future or is it best to relocate to another area?


     It's best to relocate everything out of CA


     Oh come on Luka, what would make one say that....... 

    Well, yeah, ok, but I mean besides all that it's a pretty great place to be, right.... I mean, who doesn't have to dodge a few needles and hobos on walk to the park, right. Keeps life "spicy"..... 

    3Reply
  • James Hamling
    Real Estate Broker · Minneapolis, MN · Member since 2011 · 5k+ posts · 6k+ votes
    3y
    3Reply
  • Jay HinrichsBusiness Member
    Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
    3y
    Quote from @Nicole Masters:

    I'm from Oregon, and Bend is a beautiful place to live, and it is super expensive as well. I live in the Sacramento market and it's more affordable than the Bay Area for sure, but we have had a ton of people from the Bay move up here in the past couple of years which has driven up prices a lot.


    Bay area folks have been going to Sac and the gold country/foothills for DECADES now..  Prices in those areas will be about the same as other high quality housing in other states..
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    1Reply
  • Carlos Ptriawan
    Member since 2019 · 7k+ posts · 4k+ votes
    3y
    Quote from @Jay Hinrichs:
    Quote from @Nicole Masters:

    I'm from Oregon, and Bend is a beautiful place to live, and it is super expensive as well. I live in the Sacramento market and it's more affordable than the Bay Area for sure, but we have had a ton of people from the Bay move up here in the past couple of years which has driven up prices a lot.


    Bay area folks have been going to Sac and the gold country/foothills for DECADES now..  Prices in those areas will be about the same as other high quality housing in other states..

    it's already happening. Folsom avg price is 700k, hayward/san leandro is 800k ; it was unthinkable 5 years ago. Now bay area is relatively cheaper LOL and place where people moving out to, is becoming much higher
    0Reply
  • Carlos Ptriawan
    Member since 2019 · 7k+ posts · 4k+ votes
    3y
    Quote from @James Hamling:
    Quote from @Luka Milicevic:
    Quote from @Stanley Spencer Alcorn:

    Was wondering if home prices in the bay area will get lower in the future or is it best to relocate to another area?


     It's best to relocate everything out of CA


     Oh come on Luka, what would make one say that....... 

    Well, yeah, ok, but I mean besides all that it's a pretty great place to be, right.... I mean, who doesn't have to dodge a few needles and hobos on walk to the park, right. Keeps life "spicy"..... 


     2 weeks ago I saw shoplifter stealing a ............... body lotion from Ulta Beauty store.

    LOL, this is the first time I saw thieves are stealing body lotion LOL

    0Reply
  • Carlos Ptriawan
    Member since 2019 · 7k+ posts · 4k+ votes
    3y
    Quote from @James Hamling:

     so James, the last exodus from San Francicso is Nortstrom dept store from San Francisco. What's funny is the city complained, why in the world they're leaving us, the 911 call has been dropped since 2019 LOL.........
    of course the 911 calls has been dropped, not because crime is reaching new low but because people already do not care to call the police and city LOL

    0Reply
  • Jay HinrichsBusiness Member
    Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
    3y
    Quote from @Carlos Ptriawan:
    Quote from @James Hamling:

     so James, the last exodus from San Francicso is Nortstrom dept store from San Francisco. What's funny is the city complained, why in the world they're leaving us, the 911 call has been dropped since 2019 LOL.........
    of course the 911 calls has been dropped, not because crime is reaching new low but because people already do not care to call the police and city LOL


    big cities always have crime.. I was at a concert at Winterland ( San Francisco Venue) in 1973 and my car got the window of the drivers side busted out and they broke in and stole some 8 track tapes..  
    Podcast Guest on Show #222
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    0Reply
  • Carlos Ptriawan
    Member since 2019 · 7k+ posts · 4k+ votes
    3y
    Quote from @Jay Hinrichs:
    Quote from @Carlos Ptriawan:
    Quote from @James Hamling:

     so James, the last exodus from San Francicso is Nortstrom dept store from San Francisco. What's funny is the city complained, why in the world they're leaving us, the 911 call has been dropped since 2019 LOL.........
    of course the 911 calls has been dropped, not because crime is reaching new low but because people already do not care to call the police and city LOL


    big cities always have crime.. I was at a concert at Winterland ( San Francisco Venue) in 1973 and my car got the window of the drivers side busted out and they broke in and stole some 8 track tapes..  

     yes but in 2023 it's way in different level, some cars are now opening their window while parking to show that there's nothing inside to steal LOL

    0Reply
  • Eric James
    Investor · Malakoff, TX · Member since 2017 · 2k+ posts · 2k+ votes
    3y

    Isn't population growth one of the principal factors for investing in real estate?

    0Reply
  • Robb Silverstein
    Member since 2022 · 24 posts · 29 votes
    3y

    Albany CA where I grew up in the East Bay does not have a SINGLE HOUSE for sale that is currently.  Population is around 20000.  Inventory is def causing housing prices to stay high out here. 

    0Reply
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