As I was driving back from and appointment with my client in North San Jose, I turned on the radio, and in a break from convention coverage, there was a news report saying that the real estate market was picking up, and that buyers were finally getting the message that there were good buys in depressed markets. It was interesting commentary to hear, since we are still in a very mixed market locally. The high-end properties close to jobs are selling well, and inventory is quite low, but the market further out, in most of San Jose and in the East Bay remains stagnant. Because investors are being kept out of the market by lenders requiring all cash, or large down payments, a turnaround could be another two years in coming.
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