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Town Square

real estate bubble forming again

Original post made by hoops, Mohr Park, on Mar 27, 2013

The ad is still running.You can be a proud owner of a 1549 sq ft house built in 1970 with what appears to be 8 ft ceilings for 650,000 dollars.This house is in Valley Trails which I have been told by several realtors is at the bottom of the best Pleas neighborhood list.The prices are rising back to 2005-6 levels and I guess that is good for sellers but it sure isn't good for buyers.When my 1300 sq ft home reaches 650K I am going to sell it and buy 3 3000 sq.ft houses in another state.Nuts.

Comments

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Posted by Where is Valley Trails?
a resident of Another Pleasanton neighborhood
on Mar 27, 2013 at 2:27 pm

How about some cross streets?
THANKS!


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Posted by Cheaper in other places
a resident of Another Pleasanton neighborhood
on Mar 27, 2013 at 2:28 pm

Like Detroit.

But most of the smart people who were there have left, and for good reasons!


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Posted by anon
a resident of Another Pleasanton neighborhood
on Mar 27, 2013 at 3:01 pm

And just like the early 2000's when prices soared and by mid 2006 values peaked, people offered way more than the asking price, this bubble will burst again. Sadly, not everyone learns from history.


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Posted by Buyer's cash
a resident of Another Pleasanton neighborhood
on Mar 27, 2013 at 11:39 pm

This time it's not under-qualified Americans. and over-extended middle-class. Instead, it's primary money from Asia. The Chinese have over built, so prices are too low for investment dollare. And, they pay with cash. With world interest rates so low, there is no place to 'park' money to earn interest. US housing seems about the only safe place to 'earn' money off your money. Some chinese have buyer 'reps' here, to 'invest' FOR for folks by home.


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Posted by Don Key
a resident of Civic Square
on Mar 28, 2013 at 3:07 pm

sounds like a good deal - you think $50K over asking will seal the deal?


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Posted by pleasantonmom
a resident of Ironwood
on Apr 2, 2013 at 9:39 am

Why would anyone complain that our houses are going up in value. I for one, love seeing homes selling in days and not months.


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Posted by john
a resident of Another Pleasanton neighborhood
on Apr 2, 2013 at 9:52 am

"Why would anyone complain that our houses are going up in value."

Remember what happened last time? Wouldn't it be better if housing markets were a little less volatile and a little more predictable?


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Posted by Don Key
a resident of Carlton Oaks
on Apr 2, 2013 at 1:52 pm

Greater Fool Theory Revisited


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Posted by PTownGuy
a resident of Downtown
on Apr 2, 2013 at 1:53 pm

You mean like the stock market and other investments people make?


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Posted by Ptown Dad
a resident of Amador Estates
on Apr 2, 2013 at 9:18 pm

We haven't reached the pre-crash price levels yet, and likely won't for a few years. However, it's rarely a profitable investment buying into a seller's market. It's a common mistake to feel the pressure to buy "before the train leaves the station without me. I might miss out on big profits or get priced out of the market." There's an old saying that "the time you make money on real estate is when you buy it, not when you sell it." If you plan to live in your home for 10-20 years, or you're not in it just to make money, then go ahead and buy today. It's a home, not an ATM machine. But if you think you might sell within 5 years, you might be forced to sell at a lower price. Nobody knows for sure where the market is headed, but think carefully before buying at today's prices. It's a sellers market.


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Posted by john
a resident of Another Pleasanton neighborhood
on Apr 3, 2013 at 9:03 am

Now the Obama administration seems determined to repeat the mistakes of the Bush administration.

Web Link

Web Link

Will history repeat itself?