patrick.net

BayArea says

Guys, house in our mid peninsula neighborhood hasn’t moved after several weeks on the market! Asking price is within comparables. One offer $200k below asking, which wasn’t accepted.

Has hell frozen over or is something cooking?

Over the last several years, absolutely everything put on the market here has sold immediately after the first open house.

Please Discuss

I notice a slowdown in the zip codes I follow in So Cal too. It's anecdotal, but I have been noticing that for the last 2 months. July housing data may be worse than June, but median prices will be higher.

Flyers in mailboxes from local realtors says they are able to close by accepting offers of $250 to $800k more than asking price every week. I suspect either market is still booming upside with stock options and/or realtor are asking lower than market price to attract customers. No sale signs are seen around, they are very rare.

Strategist says

I notice a slowdown in the zip codes I follow in So Cal too. It's anecdotal, but I have been noticing that for the last 2 months. July housing data may be worse than June, but median prices will be higher.

This. Housing prices will never go down again.

The top of the bubble maybe has become a plateau for a while at least.

My friend sells in Santa Cruz County and puts stuff on Facebook (free advertising).

I saw one for quite a while on there, and she has added verbiage extolling its virtues as a "good investment" "rental property" and other absurd nonsense.

Doing the math one would make 4% of so if one paid $1/2 million cash for the tiny place. She can't do the math or isn't interested.

I get a chuckle out of the stuff she and other sales hucksters say: houses are "homes" and they're all either "good investments" or "good homes".

With the new tax laws in California, houses are a lousy investment today because you will get screwed if you later want to sell it for a capital gain.