When Nancy Rivera first decided it was time to buy a home in the Bay Area, she knew it wouldn’t be easy. A lifelong renter in San Jose, Nancy had watched home prices climb steadily over the years, often feeling that homeownership was out of reach. But after years of saving and a steady job at a local biotech firm, she was ready to make her move.

The timing, however, wasn’t ideal. In early 2025, mortgage rates hovered around 6.75% for a 30-year fixed loan, a sharp increase from the sub-3% rates of just a few years ago. Nancy quickly realized this would affect both her monthly payment and the price range she could afford.

“I kept seeing the headlines about cooling prices, but the reality was that homes in good neighborhoods were still expensive,” Nancy recalled. “And the competition was tough.”

Nancy began her search in familiar neighborhoods like Willow Glen and Santa Clara but quickly ran into hurdles. Many homes were still receiving multiple offers, and despite a 2% year-over-year dip in median prices, the average single-family home in Santa Clara County was still priced at around $1.65 million.

Several times, Nancy found a property she loved, only to be outbid or see the seller decline her offer in favor of an all-cash buyer.

“I almost gave up after the third rejected offer,” she admitted. “It felt like no matter how prepared I was, someone else was a step ahead.”

But Nancy stayed persistent, adjusting her search criteria and working closely with a local agent who understood the nuances of the shifting market. After months of searching, she discovered a charming two-bedroom bungalow in Campbell. It wasn’t her original first choice, but it checked all the boxes: close to work, great schools, and a manageable commute.

Best of all, the seller was motivated and open to negotiation. Nancy successfully offered 3% below asking price, and even secured a closing cost credit to help offset her higher mortgage rate.

Today, Nancy is settling into her new home and doesn’t regret the ups and downs it took to get there.

“The journey was stressful, but worth it,” she said. “If you stay patient and flexible, there’s still opportunity in the Bay Area.”