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Our market in Silicon Valley is a rare situation in the country. Unemployment is very low and driven by high paying jobs, great weather and a cosmopolitan lifestyle we have become a mecca for all cultures.
Buying or selling real estate may seem a bit like playing the stock market especially after the crash in 2009 which made people a bit skittish about the market.
There are several factors as to why we will not see this kind of crash again. The Hamp Haffa regulations bailed out a lot of people who had over borrowed and a huge influx of foreign money stabilized our market. The banks are more regulated in terms of predatory lending and the job market which drives prices the most with low supply for demand means a stable market for times to come.
Granted the super speedy rise of real estate in the last few years does mean that the market is beginning to shift away from a sellers’ market so sellers should think about understanding their position in the market now and never ever buy more than you can afford to manage in case of smaller down turns in the market.