September 23, 2007

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Bay Area Real Estate Market Update-September 24, 2007 Drew & Christine Morgan Morganhomes.com Visit our Real Estate Blog on Active Rain real estate network. Disclaimer: This information is for entertainment purposes only and includes no legal, accounting or real estate advice nor is this response in tended to be specific to your situation-consult a specialist for your specific situation. Many of the real estate stories you may be hearing are dealing with national or statewide issues and do not reflect our local market. That doesn’t mean that the overall housing picture doesn’t affect our market—it does. The perception of a declining market is all it takes to create one. As optimistic as homeowners are about the value of their homes, we believe that somewhere in the back of their minds there’s a nagging uncertainty of future valuation and a realization that at some point the run up in real estate values will come to an end. And of course it will. The question remains is this it? Are we there now? In the Bay Area, conditions are not the same as many parts of the country where cities are reporting a rapid decline in home values. These are some of the factors which may enable the Bay Area to weather the current real estate storm better than other parts of the county: The Bay Area is currently adding high paying jobs to the workforce,”… Jobs in the San Jose area increased 1.6 percent during the year.”—increasing the demand for housing with high paying jobs that can support the...

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