Comments on: Congrats to Bay Area for having highest median home prices!

By: Steveo

Steveo — Wed, 30 Jan 2008 23:28:22 +0000

Ahh – glad to see I’m still top of mind. Well, more justification that TRBA is pulling away from the pack!

By: Malcolm

Malcolm — Wed, 30 Jan 2008 23:27:22 +0000

“The jump in Las Gatos was so large that it must have been due to just a few atypical sales.”

I live near Los Gatos. The jump is due to the fact that mid to lower range homes are not selling. Higher end homes continue to sell, but at reduced prices. Which skews the median.

I have monitored several properties in that area. The ones I recall most poignantly are a group of townhouses. At the peak of the housing bubble, their asking prices were between $750-800k. Listings have them now at $615k. (And they still aren’t moving)

A high end home I drive by frequently had three priced reduced signs on it before it finally sold.

Moral of the story: don’t believe the realtor BS. Because it is just that. BS.
A better gauge of pricing is a price per square foot which has been showing a steady decline for almost 2 years now.

By: Pralay

Pralay — Wed, 30 Jan 2008 22:54:53 +0000

> But don’t let silly things like the facts get in your way – Stevo says to buy, so buy!

Yes, buy it..NOW! Before Spring. If you don’t buy your home before Spring, you will be “priced out forever”.

By: hedda

hedda — Wed, 30 Jan 2008 19:34:20 +0000

There’s a bunch of McMansions going up near my place in Mountain View. They’re gonna be “from the low 900s”. I expect those to move about as fast as every other million-dollar Mountain View house – which is to say, they’ll still be on the market in nine months to a year.

Near my doctors office are more 900k condos. They’ve been finished for months, and a third of the units are still for sale.

But don’t let silly things like the facts get in your way – Stevo says to buy, so buy!

By: New Zealand Renter

New Zealand Renter — Wed, 30 Jan 2008 08:01:35 +0000

The jump in Las Gatos was so large that it must have been due to just a few atypical sales.

By: Renter4

Renter4 — Wed, 30 Jan 2008 06:58:16 +0000

The article does appear to have undergone only the most cursory peer review, if ANY… and there’s no method section… wait, where is it from, again? Okay, never mind.

By: sonarrat

sonarrat — Wed, 30 Jan 2008 05:32:25 +0000

But where would Palo Alto be in that case? There’s practically no inventory because it all sells as fast as it can come on the market.

By: Renter4

Renter4 — Wed, 30 Jan 2008 04:47:25 +0000

Scanned the article quickly—seems like those ARE straight house price numbers. Maybe they’re discarding data points from areas with very few sales.

By: Renter4

Renter4 — Wed, 30 Jan 2008 04:43:21 +0000

I agree… where’s Atherton, Hillsborough, Woodside, and Portola Valley? Can it be that they’re talking about the highest ratios of housing price:household income?

By: sw

sw — Wed, 30 Jan 2008 02:27:07 +0000

WTF? The median price in Menlo Park, Palo Alto, Los Altos, Cupertino, Saratoga are all higher than San Ramon and probably higher than San Juan Capistrano. Give me a break, that entire list should be Bay Area cities.