Here is my thought on price trend in California

Other than some remote places in Central Valley around Bay area or Inland Empire around LA, most desirable places have been holding prices firm despite the collapse of the bubble. There had been drops but for most good school districts prices have not yet been reduced to the level you can comfortably afford. I suggest that you can wait a while. The bill will help to slow the foreclosure wave, it will have more impact to REO investors looking to bottom fish the extremely low priced REO properties around the edge of the city or in CV or Inland empire. But to regular markets like inside Bay area, Palo Alto, Cupertino, Milpitas/Frement, the impact will not be big. If Silicon Valley's economy slows, the price eventually sink regardless of the bill. The bill mostly help lower income people living in foreclosure disaster area.

So, you need to be clear if you are a self-home buyer or a REO investor. If you are the first type, you may need to wait. If you are the second type, you may need to act faster, although you still have lots of chance.

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• Miat, very grateful for your valuable advice! -kitten- ♀ (0 bytes) () 07/24/2008 postreply 17:29:56