Buying homes in Silicon Valley during a “buyer’s market” takes courage. Doom and gloom grace the cover of the newspaper and online articles. Everyone has a bad story to share about someone else who lost a home, or had a bad experience trying to buy a short sale or distressed property. Perhaps most of all, at work or in social circles, friends and coworkers will advise you “if you wait, you will get it for less”.

But there are many healthy markets and pricepoints where there’s simply a soft spot in the zone where you want to buy. In recent days I’ve looked at the condo and townhouse market in several upscale parts of the valley such as Los Gatos, Saratoga, and Almaden Valley. For some reason, townhomes and condominiums in these lovely areas are taking a bit of a beating right now compared to the single family home market. This appears to be a nice buying opportunity. Real estate in these west valley neighborhoods is usually beyond reach for many people. Right now, though, you may be able to get your foot in the door.

Additionally, there are some markets in which single family homes are selling very well (especially in Palo Alto, Sunnyvale, Mountain View). For Silicon Valley seniors who’d like to downsize, this may be an ideal market. Sell the home in a strong market, buy the retirement condo in a buyer’s market. What more could you want?

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