Buy or wait until Elections?

I’m looking to buy a fixer in fremont, I believe I’m getting it less than market with 10% buffer after the remodel. So I have some cushion for a correction if it happens.
The home next to it (identical layout,sft), which is slightly in a better condition with some updates over the years appraised last month for $120k more than what I’m paying now.

My debate is with elections so close, should I pull the trigger? if a Trump event happens in Nov, how and when will be there an impact on RE? or is it a non-event at all?

PS: I know long term it doesnt matter, but question is about a RE sale that Im going to miss :slight_smile:

What’s your plan with the property? Do repairs and sell for a profit within 6 months?
Or do repairs and keep as rental or occupy it yourself?

Plan A is to Stay.
Plan B is to sell next spring.

I’m debating whether to add a addition: Master suite. Still debating on this, If I do, above options will be reversed.

Location is not the best of the best for me, but all 10 rated schools in north fremont.

This is my take/suggestion:

Plan A is to Stay or hold 10 years => For this plan, Do not wait, buy.

Plan B is to sell next spring. => For this plan, do not buy. Not safe !


Trump is definitely a factor…I am not buying anything till November. …If he is elected the 2017 worst case nightmare is guaranteed. …


I spoke with an agent yesterday about the Trump factor or the pre-election uncertainty in general.

He acknowledged it and sait it makes a good buying opportunity, or, in other words, “this is the worst time to list a house” (quoting him literally). Of course, he still took that new listing :slight_smile:

We specifically discussed the under $1M price segment in Capitola… about 5 listings there right now that have been sitting for as much as 3 months… they had asked for what was reasonable probably in February (2016) and came a little too late to the party.

If a seller wants to sell this fall, he may have to accept a 2014 price. Yes, 2 years of gain (20%) lost in the last ~6 months.

Remember to buy when others don’t. Sell when others want to buy.

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Thanks all.

I pulled the trigger, let’s see what happens in November. If Hillary comes may be this is a good bargain:)

Congrats @RealEstatebull!!! You know how much I love Fremont!!!

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@sfdragonboy thanks shows 18 mins to fb HQ at this hour. So we got that covered haha

Velly, velly nice, @RealEstatebull… unlike the sports car that literally drops in value the sec it leaves the showroom, your place just went up by the sec after closing!!!

I think either way housing goes up after the election. It’s the uncertainty that’s causing pause. Once people know, then they move on and start making decisions. Just look at the data in the other discussion. The bay area added 8 jobs for every 1 home created from 2011-2015. That trend isn’t going to change.

Agree but how much more can housing go (realistically)? Are we saying a plain jane 2/1 SFH in SF will hit $1.5-2M? The pricing is out of whack as it is and to think it will go way higher is hard to believe. People will be forced to look east and beyond because they simply can not or will not pay those high prices.

Seller’s Greediness results low competition. See this listing, I lost the bid as buyer. Still competition is good for right priced staged homes !

I know the price it would likely be settled (as I am the 2nd highest bidder).

Forum viewers, Can you guesstimate the home?

What price , if you bid, you would provide best offer?

I think $1.2-1.4M is the sweet spot based on affordability of $250k income. That’s why there’s so much demand below $1M. I think anything below $1.2-1.4M will go towards that price. Anything above that will probably have slower appreciation until the lower priced homes catch up. Then the homes above that price will start to go up again.

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@Jil when a home shows this well, its anybody;s guess. Interest rates are cheap, so heck why not throw an additional 50k, there are a lot of emotional buyers still.

My guess is 1.20 to 1.250

1 million mortgage is the sweet spot for tax incentives. Above that you are sitting on a lot of equity or a non-deductible interest payment

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Has anyone seen this in the south bay or east bay. 2014 price would be a steal. Can I buy 2? :slight_smile:

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Question is will you buy with the price you quote? Are you ready to bid with that price? If not what is the exact price you bid?

Question is will you buy with the price you quote? Are you ready to bid with that price? If not what is the exact price you bid?

@Jil Comps are there at 1.250. Why not? I will put that price. If I need to enhance my quality of life and move in as primary, I will. Not for investment because another home will come in the market.

I can’t tell the exact price but based on the offers I have been seeing, people are willing to pay more if they get attached to a home.

PS: I only spent 2 mins on redfin and I know that area in general, not following every home.