Hold now and then buy more.
Too much transactional costs and if you’re Californian, your property taxes are big incentive not to buy and sell constantly (unless your business is flipping)
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Yes, I am not selling because my time horizon is 20+ years, will pass on to kids if I can ! But if you need/want to sell within next 5 years, I firmly believe this is the best time. And I don’t need to convince anyone, FOMO is going to hit the sellers very soon.
+1 . Save cash. Tech has collapsed in the stock market and if mortgage rates hit 10% , there will be no dip buyers in the market anymore ! On the other hand, sellers that have to sell are sitting on good equity and can reduce prices. Only the greedy ones will not … Until fear strikes them !
Where did you hear this? If it is your assessment, please share your reasoning. Thanks.
If have to sell within 1 year, should start asking price below market. Otherwise, it would be chasing the price lower… similar to the behavior of a newbie in stocks.
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Ha ha ha ! You are preaching Elt1 about bay area real estate about good time !
How many years you have seen real estate in bay area?
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So your only rebuttal is ‘he has more years of experience than you’ ?
In Aug 2022, I understood the current recession, well ahead and rushed to my realtor to sell all my properties. All my offers are full cash offers, closed it appx Sep-Oct 2021.
With my experience, lower than him, I am able to understand what is the best period to sell.
He is way more experience that almost everyone in this forum, not only as an investor but all also as Structural Engineer built many homes. If I remember, he has been here bay area almost 30-40 years range.
The way you teach him is like a 1st grade student teaching the Ph.D person, esp real estate investment perspective !
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Let’s just debate on facts and logic. Prices have already gone down 20% in bay area while all the experienced nay sayers kept denying the fall. I am happy to be a 1st grade student - curious and open to feedback !!
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Who is this? The alter ego? The bears are loose. But boots on the ground are what counts. Not wild speculation by wannabe vultures. My knowledge of investing in BA real estate goes back 90 years to when my grandfather bought in the 1930s
What wild speculation? Just saying that its a good time to sell. And we found a person on the forum who has already done this last month - @Jil !
All great real estate gurus on the forum need to be open to divergent views
RE is not stocks. Buying and selling is a sticky business. With huge tax considerations, but more importantly if you sell in the BA you can never return. I moved 9 years ago with no intention of returning. But the house I sold back then has doubled in value and even if it dropped 50% the taxes would still be double what I paid. So my naive troll there is very little chance people will sell in the BA … except for the 3DDDs… and if you do you can’t come back.
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It is my mistake, I sold all in May 2021 (not 2022), that was the best time to sell out. Most of my real estate purchases happened during 2006-2012.
I made 60x of my money in 15 years (2006-2021), now paid of my primary (rest all sold). This was my last rental property.
That is the end of my real estate. I came out of real estate after having bitter predatory lawsuit experience, enough is enough.
The home was tear-down by the builder-investor and sold it Apr 2022.
I think the peak was March 2022. Hard to time any market. But prices are not down 20% yet. It is a mistake for people to think that sellers that price 20% over market and then sell determines values. The market overall may be down… but some areas are up. It takes a year to see the real trend. But Altos research is a great tool for determining trends. A 20% drop is a reasonable expectation…But going around offering 20% discounts would be fruitless… especially on this forum. Maybe our house troll should hang out around divorce lawyers, moving companies EDD offices and mortuaries looking for desperate sellers
@Jil is a denier and so is @Elt1. Real estate will decline nationally by at least 20% and Bay Area with layoffs, stock market crash, near 8% mortgage rate, record exodus, remote work, and crazy high base real estate prices, will certainly go down by at least 50%. The party has just started. 20% decline in 6 months and there are still deniers. Amazing.
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First you said 50% and now 20%. You have no track record on this forum. Call me names but my 13 years on this and Redfin have given me a tried and true track record. Show us the deals you mske
Data can’t be refuted . Median sale prices in Bay Area below. Santa Clara County more than 20% down-
Source : October 2022 Bay Area 4 Counties Housing Marker Update - YouTube
Are you the same person… like Trump and Barron?
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20% is just the start. Movie has just started. The finale will be grand. Buckle up. 50% crash is the best case scenario.
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Obvious liar 
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Catching the mistakes! 
First I wrote from poor memory ( obviously getting old ) - then verified records and corrected.