An old client of mine is being transferred to Seattle by his company. Unfortunately, the cute one-bedroom condo he bought several years ago is in North San Jose, and in a price range ($300,000) that has been most impacted by the subprime squeeze on the first time homebuyers and investors who would be potential buyers for his home.
Unlike our "Oasis" of more expensive Peninsula homes, the value of his place has declined nearly ten percent in the past year.
In a way, he is lucky. Most of his work involves travel and working at home, so he's not being pressured to move for a while. That's particularly good, because Seattle, with its healthy economy, was listed in the New York Times as one of the few areas, along with Portland and Charlotte, where prices are increasing.
We just extended his condo listing for another six months.
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