My dose of negativity for the day:

21

I didnt say that all cash offer was from foreigner’s, did I? All i said was that I see a lot of foreigners in the OH I visit.

22

Sunnyvale and Santa Clara. SFR only.

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23

San Ramon to Santa Clara I believe. Commute is the reason?

24

yes, commute is the main reason. SR schools dont work for us too.

25

Depends on where you buy in SC or SunV, but I would still guess SR schools will be better?

26

I see a lot of elderly Asians chaperoned by an REA. Bigger groups as well. Looks like serious buyers as they spend considerable time in certain properties.

I dont think the foreign interest is subsiding.

27

Actually, for me, yes, it seems very likely

28

In terms of test scores, SR schools (Windmere/GR) are as best as you can get. The only serious competition in terms of comprehensiveness of school district is Cupertino perhaps. You can buy in any street in Windmere/GR without worrying about the school zoning.

29

hmmm… well… we will find out… :slight_smile:

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30

Asian doesn’t mean foreign. In fact foreign buyers mostly buy sight unseen I bet.

31

it all depends on what the other assets are… that’s all

32

What assets went up in 2008? Your basically hoping for a repeat for RE prices. That didn’t happen in a bubble without other asset prices declining.

33

not everything went down in 2008…

35

So the assets we are discussing are stocks,bonds I’m assuming?

36

That’s exactly my point. You think your assets will go up while RE declines. Did you pull that off in 2008?

37

I think so too. But over a period of time I have started to notice the subtle differences between local and non resident visitors

  • Chaperoned by REA
  • Not driving their own car but someone else driving them
  • Only speaking in non English language and letting their REA talk to the hosting REA. No direct questions.
  • Usually not coming alone but in groups. Sometimes with grown up kids.
  • 60+
    I am expecting that some are retiring and want to move closer to their kids who are residing in bay area. Cant take loan (short credit history for large loan) and may wind up some investment overseas and have full cash offer.
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38

How about cash that is, for reasons I wont explain, not available for 2 years? Wouldn’t you want a downturn too?

geeez, everyone’s circumstances are different

39

None of that screams foreign buyers to me. If they don’t know English how can they fire questions to the hosting agent directly?

40

I dont know whether they know English or not.

41

Technically correct but :slight_smile: GAAP for time in normal conversation is relative to your life span. Relativity, everything is relative, got it???