patrick.net

Sounds like you want to buy to live in, not to invest. Must be a nice 2 bedrooms for you to pay $2,400/month. I don't know much about San Ramon so I'll keep my mouth shut although I almost bought a house off of Norris Canyon Road that was built by Toll Brothers in 2000.

meetyaks says

Should I buy now in Bay area?

Honestly, I wouldn't be in a hurry in the Bay area.

E-man says

Sounds like you want to buy to live in, not to invest. Must be a nice 2 bedrooms for you to pay $2,400/month. I don't know much about San Ramon so I'll keep my mouth shut although I almost bought a house off of Norris Canyon Road that was built by Toll Brothers in 2000.

Yes I want to buy to live in

I heard people saying banks are holding the properties until the election. How true is that? Is it applicable to areas like San Ramon?

JodyChunder says

meetyaks says

Should I buy now in Bay area?

Honestly, I wouldn't be in a hurry in the Bay area.

This.

If you have the money, and are NOT counting on it for retirement, then go for it. It may not be a perfect time to buy, but it isn't the worst either. Don't think of your primary residence as an investment, though. It might have good returns for the next few years judging by how the market is being manipulated, but in the long run it will mostly follow inflation. You can try to time things to cash-out, but do so at your own risk.

bmwman91 says

If you have the money, and are NOT counting on it for retirement, then go for it.

Haha,but RE is an investment,so isn't it a retirement?

Listen to yourself. No, don't bite bullets. If you're about to spend that much money and assuming that amount represents a significant percentage of your net worth, don't you want to be completely happy and settled with the decision rather than biting bullets?

Of course, if you're into self-inflicted pain as a matter of being connected with the society majority, bite the bullet. There are benefits to that kind of things. You must decide whether the peace-of-mind coming from conformity is greater, or of a more preferable kind than the peace-of-mind coming from financial stability.

sounds like OP is asking if anyone can predict the future

please join the bears and don't buy, less competition for the rest of us.

Trivial says

please join the bears and don't buy, less competition for the rest of us.

Thinking of the situation as two groups, bulls and bears, is only helpful to the organizations loaning the money. How much money do you have? How much do you want to spend?

We too have saved around $200,000 and have rented all our lives. As we are approaching retirment and a fixed income, we have decided it is best to buy in our "range" and be able to pay the same amount for 30 years instead of wondering what the "rent" will be, if we have to move, etc. Not fun at 75... So we plan to stay in our home too. That being said, we are not going to buy something that it is not worth and we are making sure we stick to our budget so we have enough left of our "cash" for repairs, maintenance and some left over for medical bills, etc. As well as being able to travel a bit etc. So the best advice I can give (and I'm still a 'learner' too) is to make sure you are honest with your budget including how secure your income is; keep cash on hand for emergencies including car issues and make sure you stick to that; don't get influenced by a real estate agent or friends...your best friend is you and you know what you can and cannot do...good luck ;)

retire59 says

We too have saved around $200,000 and have rented all our lives. As we are approaching retirment and a fixed income, we have decided it is best to buy in our "range" and be able to pay the same amount for 30 years instead of wondering what the "rent" will be, if we have to move, etc.

Ironically, depending on your age you may actually be better off renting from hereon out - especially if the place you are looking at is in the fortress or otherwise is nowhere close to rental parity.

Case in point, if you are 60 and are going to spend 30 years (i.e. the rest of your life) paying 3000K a month toward a mortgage, why not just rent for 2K a month and pocket the difference?

One of the main benefits of buying as I see it, is having some timeperiod where the mortgage is paid off and you are living for next to nothing. If, given your age, that is not going to happen, why not choose the cheaper option?

meetyaks says

I heard people saying banks are holding the properties until the election. How true is that? Is it applicable to areas like San Ramon?

I currently live in San Ramon and it's really not a nice place--no down town. Seriously, what is up with not having a down town? It's quiet, safe, and has good schools, but nothing else. Also, if you or anyone else in your family has allergies, you will be in for two straight months of hell. Because of the wind in this area, it is the WORST for allergies. My husband ended up on an inhaler after moving here.

We are looking for land in Santa Cruz and want to build our own house.