Home prices have declined from 10.7% in average nationwide between January 2007 & January 2008. This is the biggest drop since the index has been created in 2000.Thus, this is the best time right now to consider investing in real estate, whether in the Silicon Valley or in other states, as both prices and rates are low.
The question now that people often ask me: When will it hit the bottom? People want to invest while the price will be the lowest.
Let's not forget that we are in an atypical situation, where the market has meltdown. A real estate investor should not focus on waiting for the bottom, but investing right now as conditions are more than friendly. Also, you have to think about the mortgage market, and see what loan program will fit you the most.
You have questions about real estate investment? Thinking about purcasing a home in Palo Alto or in the Silicon Valley? Feel free to contact me and let's discuss about the possibilities.
(Source: CNN Money)
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