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1
CBETA
2010 May 3, 2:29pm
CBETA
2010 May 3, 2:29pm
One word "Resale value", I always consider that one. It is a delicate balance, because if you had to sell, places like Morgan Hill will be less desirable than Cambrian.
2
thomas.wong1986
2010 May 4, 6:04am
"I am new to these boards and I am looking for a home in Morgan Hill. My general assumption is that prices in Bay area back to 2000 levels are fair since they would be at inflation levels."
Not even close. You saw prices double in Bay Area from 1998 to 2000. 1997 prices adjusted for inflation would be around high 200Ks to 300K.
I am new to these boards and I am looking for a home in Morgan Hill. My general assumption is that prices in Bay area back to 2000 levels are fair since they would be at inflation levels. Morgan Hill prices are 10% above the levels of 2000 but they are probably closest to bottom compared to many other areas. I am interested in a house going for 465K that was 430K in year 2000. Considering the tax credit and seller credits, I would say the home price is around 440-445K. this is very close to the fair value.
What do you guys think about prices in Morgan Hill? Here are pros and cons.
Pros: Value, bigger house for your family, quite and small town feel, close to year 2000 prices, Rent almost equal to monthly payment, Economy is picking up which is good for housing.
Cons: Location is to the south of everything in Bay area, boring, 30 minute commute to work, housing may double dip if rates go up, the house maybe bit big for just myself and wifey.
Appreciate any feedback or your comments or suggestions from you guys.
#housing