forgot to add the </sarcasm/> tag.
Having said that it’s an argument put forward by many including on this forum.
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https://www.zillow.com/homedetails/1819-Basile-Ave-San-Jose-CA-95128/19585916_zpid/
https://www.zillow.com/homedetails/1507-Hamilton-Ave-San-Jose-CA-95125/19682270_zpid/
Here are some homes whose Zestimate dropped 40% within 2-3 months in San Jose.
yes true, I have seen some cases do that
1819-Basile-Ave-95128 Listed at $998k, and sold for $1150k
Reg 1507-Hamilton-Ave-San-Jose-CA-95125 True all hypes waded. Reduced drastically.
This Hamilton road is very high traffic road, children can not come out of home, lot of gas smoke comes inside, noise pollution etc. Normally such homes are hard to sell. If you expect 50% drop in that home price, give any offer, they will accept immediately ! Any one buying such home, thinking great discount, buying issues, not enjoyable home !
I lived near by booksin school, know the areas very well.
Real estate Location, location and Location!
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Prices up 10.8% YoY. Time to get a home under contract was 14 days (-3 days YoY).
Oh, and builders aren’t starting new construction. This is only going to lead to higher prices as the economy recovers. By the time they start building again, they’ll be behind demand and struggling to catch up.
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12 months later 
This month is peak inventory. Inventory is expected to decline as strong sellers pull out their listing and as new construction are sold. Prices should continue to decline till Q1 next year. I am waiting for the flood of motivated sellers 
Prices are still increasing just at a slower rate. They aren’t declining yet (at least on a national level). Specific markets will vary. The only way we get a flood of motivated sellers is if there’s a big spike in unemployment.
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Median prices are going up because of new construction which typically cost more. Resale sellers can pull out of the market but builders need to sell to fund the next phase.
That’s what market is expecting to happen in Q4/Q1.
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Here is one data point for Palo Alto Market. Bought in 2019 for 2.725M, and sold just now for 3.2M. Pretty much same condition.
https://www.redfin.com/CA/Palo-Alto/2490-Ross-Rd-94303/home/1666015
I don’t think this house would never go to 4M even at the top of the market. This is Zillow issue. But I do expect this might have sold around 3.5-3.6 at the top of the market.
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I was thinking about selling my PA “mansion” because I don’t want to own houses anymore. But given the market condition, I might have to wait 
Homeless?
Sell all and keep one only 
There are many areas in the BA nicer than Palo Alto. It was the town for tech wannabes. Marin Piedmont Russian Hill Woodside Hillsborough PV Los Gatos are all better locations. I suspect the WFH movement will change the values of some cities just like the tech invasion changed the old rules.
Newbies never understand the old dynamics. Hills and especially view homes were in high demand… and then everyone wanted to live in the flat lands close to jobs, Starbucks, and overrated schools. I think the old rules will come back. Especially for the next generation that will appreciate the old BA instead the phony Real BA. The BA has a lot to offer that other cities can’t. Location always matters. Beaches wine country great restaurants the cool Bay breezes culture sports teams the music scene the diversity Tahoe and Yosemite close by plus the delta agricultural abundance hiking camping and many other year round activities not to mention world class universities. San Diego does not even come close. The BA was desirable before tech and will be after tech. It will never become another Detroit.
If I ever move back to BA it would probably be to Alamo Walnut Creek or near there. 2.5 hours to Tahoe. One hour to SF beaches Napa South Bay. Still affordable because of the long commute to SV. 2 hours at the height of rush hour.
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What are the top 10 best towns in BA according to you, which will always remain charming, way in the future?
I like the Berkeley hills… but not the Berkeley politics. I will never live on the peninsula or South Bay again. To much traffic and too hard to get anywhere. Marin or the east bay for me. Love downtown WC. Plus easy Bart trip to SF and the Giants ballpark. Orinda Alamo Lafayette WC Alamo Danville Ross Sausalito Tiburon Belvedere Mill Valley Napa Sonoma… all appeal to me. Maybe someday I’ll get a condo in SF . Live on my farm in Cameron Park, ski Tahoe and enjoy the scene in SF.
Napa used to be a crappy backwater.
Now it’s amazing. Great downtown Great restaurants and world class wineries. Plus SF is only 45minutes away. We used to go to Napa in the 70s. The wine was mediocre but free. Even Vallejo was a more desirable place to live. The change has been amazing. Even 5 years ago there were deals on cheap houses. Now they are $1m for a fixer.
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Migration out of San Francisco is increasing, while migration out of New York is declining
San Francisco had the highest net outflow of any major U.S. metro in the second quarter, unchanged from the first quarter. Net outflow is a measure of how many more Redfin.com users looked to leave a metro area than move in.
Los Angeles, New York, Washington, D.C. and Seattle round out the top five; it’s typical that homebuyers look to move out of expensive job centers.
As permanent remote work becomes the norm for many workers, even more homebuyers are moving out of most of those expensive cities than a year ago. Net outflow increased year over year in four of the five top places people are leaving. One exception is New York, where outflow is slowing.
If SF gets cheap, I will buy a condo there in the Marina District . Looking for that 50% discount as promised on this forum. Just need a 1 bedroom with elevator, parking and security.
This will do especially at 50% off. Parking probably is another $300/m
I always thought this was a cool building. But old, probably has a lot of deferred maintenance. $496/ Hoa not bad. The cost of a hotel room for one night in that area.
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