I’ve spent 35 years in the Bay Area…
Born in Houston but transplanted into the Bay at the age of 2. My dad landed a job at National Semiconductor back in 1983. We moved around back then: Santa Teresa to East San Jose to South San Jose to Cupertino.
I consider Cupertino to be my hometown as I was practically forged there for 8 years. After my dad died in 1995, we ended up moving like freaks with my mom from one city to another. East San Jose, Los Gatos, Cupertino, Santa Clara, Los Altos Hills, Mountain View, and Alviso.
The years passed on and now I am a full grown adult. But I made a major mistake. I NEVER BOUGHT A HOUSE. It’s super annoying because I am from here and you know, this place is just straight up pricey now. That ship sailed a long time ago.
So I am slowly getting back into the “I need to buy a home” mentality. Markets have cooled down a bit. We reached an inflection point early 2018. But now are feeling the effects.
I put together a sweet article talking about if it is a good time for those who want to buy.
But just to make it short, it makes sense to buy if you are going to hold your home for the long haul. At least 5 years perhaps. Could be less, but the longer the better. I also wouldn’t purchase right now. I’m personally waiting to the end of 2019 to feel it out.
I need to stake my claim by buying a house where I grew up. Or forever be a castaway.
Check out my in depth write up here and let me know your thoughts on purchasing now vs later.
Bay Area Guy