Time to assess the situation in California. From the Tollhouse to the Francis Drake to every hotel, motel, and commercial property in between, something is rotten in Denmark. By Denmark, of course, I mean San Francisco. And by San Francisco, of course, I mean the entire United States. Now are the times that try men’s souls, to be sure. They try men’s and women’s pocketbooks too. Millions of homeowners are teetering on the edge of total, financial collapse. Foreclosures are up, and oddly, so are new home sales. Go figure.
The residential market has gone belly-up and the re-surged, only to be poised for another, double-dip recession. This means that the commercial market is now on the verge of total failure. Nine counties are now listed as trouble areas, failed counties, if you will. They are: Alameda, Contra Costa, Marin, Napa, San Francisco, San Mateo, Santa Clara, Solano; and, last but not least, Sonoma. I’m sure this comes as a shock to many of you. Who would’ve thought Napa and Marin of all places would make the list?
But, as the financial crisis makes its way towards a double-dip, for would-be property owners, now could be the best time ever to buy into California real estate. I’m sure many of you know how prohibitive the Northern Californian market can be. Not many people can afford to buy a $2 million dollar home on Nob Hill, much less a three-bedroom in Berkeley or Marin County. But, if you’ve been saving (or investing in gold), the future is quite gilded, indeed.
The sad fact of the matter is one man’s misery is bound to be another man’s delight. As the median home values drop statewide, those who bought when the market was bullish are hurting now that the market is bearish. Most property owners — this includes both home and commercial owners — are feeling the pinch of a bad investment. So, what are their choices? What is a home or business owner to do? Sell. And for cheap — super cheap.
Short of a catastrophic event, which many would-be home and commercial property owners have been praying for, the single best time to make a move on the market is now. Indeed, though the federal government says we’re pulling out of the recession, the fact of the matter is we’re headed for a double-dip and worse yet, we’re headed for massive inflation as the Fed tries to print its way out of this crisis. So, while the dollar is still worth something, make the most of it! Get in on that dream property and hold on tight — it’s going to be a bumpy ride!
Making a decision about real estate in Northern California takes time and patience. Where better to enjoy both virtues than the Tollhouse Hotel? Book online today!
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