While the experts are busy making up their minds, a number of community initiatives have been launched to help Cupertino homes recover from foreclosures, such as Project Restoration. This group  was covered in an August 1, 2009 article in the Mercury News, which describes the various communities affected by the efforts of the organization. An  August 22, 2009 article in the Silicon Valley/San Jose Business Journal found that “Bay Area home sales hit a four-year high in July as prices rose for the fourth straight month, according to a report released Friday. The number of homes sold in Santa Clara County were up 32.5 percent compared to last July’s 2,199 and June’s 2,090. The median price paid rose to $490,000 from $445,000 in June, but remained about 16 percent below last year’s $585,500.”

The Santa Clara County Association of Realtors released an article in the PR NewsWire reporting their perspective on the Cupertino real estate market, which was generally optimistic. The August 14,  2009 article, entitled “Housing Statistics Show Strong Demand in Santa Clara County Market”, gave the following opinion: “Home buyers in the Santa Clara County are getting the message. Mortgage interest rates are close to all time lows, home prices are more affordable than they have been in years, and it’s the time to buy.” Obviously, this needs to be taken with a grain of salt considering the source of the information.