Luxury homes in Hillsborough Ca and the downturn market

Real Estate Agent with LG Realty

 Luxury homes in Hillsborough Ca and the downturn market

Luxury homes

While the value of luxury homes seems to have held up better than the rest of housing market, prices are starting to show decline due to recession, job losses, and sinking stock portfolios. Loan restrictions, and difficulties with appraisals also had effect on sales of luxury homes.

Sales of less expensive houses on other side are accelerating as buyers and investors take advantage of bargain prices, low interest rates and first-time homes buyers tax credit.

luxury homes

The days on the market has really increased accross Bay Area on the high-end. The inventory of luxury homes grows accordingly, thought we had a good number of homes sold. 


luxury homes

The number of under contract Hillsborough luxury homes in October 2009 by 45% higher than in October of 2007.

luxury homes


The median price of sold homes in Hillsborough ca is slowly declining. 

luxury homes

 luxury homes

If you're planning to buy a house in Hillsborough, the time may be right for you, and I will be happy to help.


Lena Griffin


Comments (5)

Angela Niece
RE/Max Results - Wayzata, MN
Trust the Results of Hard Work!

I do not think that anyone is safe in this market. 

Nov 05, 2009 03:58 PM
David Zablatsky
Avant Realty Group - Needham, MA
Real Estate - Needham, MA



Thank you for your posting!

Nov 05, 2009 04:00 PM
Doug Jones
Mortgage Magic - San Jose, CA
Mortgage Broker - NMLS 286668

It may sound funny but many of these houses also need loans and the big loan market has been destroyed. I did an $8,500,000 loan in this area in '07- no way now I could do that loan

Nov 05, 2009 04:03 PM
Lena Griffin
LG Realty - Hillsborough, CA


I agree, it's very hard to get big loans these days, even with perfect credit score and large down paymnet. Sometimes we have ask sellers for help.

Nov 06, 2009 06:50 AM
John Henry Architect

The desire to build large luxury homes has been affected by extremely tight lending practices that are killing the market overall.

There is pent up demand, no doubt.  People with means are waiting for the right economic conditions to move forward and they will.  Green building right now is anemic as entry level and move up buyers can barely qualify for the size of home they need.

The entire construction industry is on its back and many sectors can no longer operate until credit is extended closer to the norm which fueled sales and construction for so many years.

If minor recessions might be the result of looser standards, then we should accpet them rather than try to create an austerity program for this one that will surely kill everyone in the industry.

More designs from John Henry AIA are available here:

Jul 24, 2010 02:29 AM