First Quarter 2009 house prices have stabilized, down 1% from 4th Quarter 2008. The peak of the current cycle was the First Quarter '08 - median prices have fallen 25% since then. Sales volume (the number of closed sales) is down 36% and the number of houses for sale has doubled. Let me know if you want back-up data - I would be happy to send it to you.

Needless to say, with historically low interest rates, there are some great deals out there. Other than my listings (which are fabulous values!), I like 313 Barton in Menlo, a 3 bedroom, 2 bath 1,600 square foot house in the Willows on a 6,300 square foot lot for $950k - it needs updating, but it's a good price for the size. I also like 31 Rittenhouse in the Loyden Park neighborhood of Atherton - it's been on the market since September and is now priced at $1.895m - 2,300 square feet on a 14,000 square foot lot, completely updated with high-end finishes, beautiful landscaping - I love this house and it pains me that it hasn't sold yet.