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13 open houses this weekend (usually 3 or 4)
invite response
2013 Jul 5, 5:13pm 1,550 views 6 comments
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The time has come.
The SF area is finally ready for the next crash.
It was first in the early 1990s.
Then the early 2000s.
Then 2008/2009
Now, finally, 2013. The crash of 2012.
The time has come.
The SF area is finally ready for the next crash.
It was first in the early 1990s.
Then the early 2000s.
Then 2008/2009
Now, finally, 2013. The crash of 2012.
Why so early this time around?
CashWillCrash
2013 Jul 5, 11:50pm
Hmmmm. Looks like a good amount of homes on the market there. But maybe that's a normal amount? Most areas did not have enough inventory during the first 6 month of this year, so you might have compared to an unusual situation. So if there are a lot more now, is this back to normal or is it too much? Check the history on all of these listings, are there any distressed sellers? Flippers? Are they selling for large profits? Price will only go down when many people are forced to sell and just have to accept a lower price.
Hmmmm. Looks like a good amount of homes on the market there. But maybe that's a normal amount? Most areas did not have enough inventory during the first 6 month of this year, so you might have compared to an unusual situation. So if there are a lot more now, is this back to normal or is it too much? Check the history on all of these listings, are there any distressed sellers? Flippers? Are they selling for large profits? Price will only go down when many people are forced to sell and just have to accept a lower price.
I talked to 4 agents that are in my price range. 1 is a flipper, other 3 are currently rented out. Owner used to live there but moved out due to various reasons.
I have been paying attention to this area. From this January, on any given weekend, there are about 3 to 4 open houses. But this weekend there are about 13 of them.
Any comments from experts familiar with this area?
http://www.redfin.com/homes-for-sale#!lat=37.76697812142078&long=-121.88451153321103&market=sanfrancisco&max_price=2000000&min_price=375000®ion_id=17519®ion_type=6&sf=1,2&v=8&zoomLevel=14