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We are writing this blog in early part of October'07.
In the past few weekends, we have been visiting open house for homes on sale in Cupertino, Saratoga, Los Gatos and Sunnyvale. You will be surprised to see there are a bunch of people stopping-by to view the homes. You sometimes experience problems finding parking - especially, if you end up visiting these homes around 3:30pm to 4:30pm on a Sunday.
Does it mean the market is alive? I am not sure, so are the Real-estate agents. Here is an example: a home in Cupertino attracted constant phone calls and 200 visitors (ahem, guests) on Sunday and still no offer. When we called the agent last night, he responded, he had about 100 visitors yesterday (this has been going on for 2 weeks) and still no offer.
I am not sure if you connected the dots but here is our perspective - people are looking for a crash news or confirming their equity is strong - they are neither true buyers nor have any interest in buying. We suggested a real-estate agent to put out a small notice : Potential buyers only - Neighbors, please avoid visits.
Will this work for long time? We will let you know. If anybody has any comments, let us know.
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