While everyone else is watching their property values drop, the San Ramon Valley area (Danville, Alamo and San Ramon have not experienced a major drop in prices.  What we are seeing is an incredible upswing however, in people looking for deals.  Every buyer wants a sweet deal and if a home is not in nearly perfect condition and extremely well priced, it may not sell for quite awhile.   So far prices have dropped about 10% in the San Ramon Valley since April 2007 and 20% in Walnut Creek, and 30% in Concord.  Each town is a different market - real estate is very local and we now have micro markets so it is difficult to make sweeping comments about an area.  You must know the town and the neighborhood to speak with any authority.  Everyone has become a real estate expert, even those who only own one home and have lived in that home for 20 or more years.  What will happen next year?  Who knows.