Arn Cenedella

Is the real estate market approaching bottom?

The Sf Chronicle often paints a fairly bleak picture of the local real estate market.

However on today’s front page, the San Francisco Chronicle reports on some postive movement in the market.

The SF Chronicle reports that the Bay Area median price is around $300,000 and that with a Bay Area median income of $80,000, one can now buy a median price house.

Furthermore, 5,000 homes a month are purchased in the Bay Area.

Are we at the bottom? I do not know – but I think we are getting closer.

I do believe this is a good time for the first-time home buyer and novice investor.

This entry was posted on Sunday, March 29th, 2009 at 6:30 pm and is filed under First-time home buyers, Foreclosures, Investment Real Estate, Real Estate Finance. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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