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Lamorinda Home Prices Back Above Peak Levels
invite response
2013 Apr 17, 5:25am 9,642 views 11 comments
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gregpfielding
2013 Apr 17, 5:39am
Disclaimer: I'm not happy about this. I'm not a fan of this. And I don't want this trend to continue.
Just reporting the facts.
RentingForHalfTheCost
2013 Apr 17, 8:47am
More debt suckers to the mix. Let them all board the bush to 30yrs of payments. My express bus will be along soon enough. ;)
REpro
2013 Apr 17, 1:09pm
Next fall down with prices going to be really painful for current buyers, since they tied-up so much cash. Prudent investors exited BA market months ago.
taxee
2013 Apr 17, 1:21pm
APOCALYPSEFUCK is Shostakovich says
By this time next year, every property west of Chico will be 10x and with every sale hundreds of writhing black-eyed virgins will appear on the lawn to fuck the seller! Their screams of ecstasy will shatter windows for hundreds of miles around!
More! More! More!
leo707
2013 Apr 17, 1:53pm
Disclaimer: I'm not happy about this. I'm not a fan of this. And I don't want this trend to continue.
Just reporting the facts.
Yeah, this is one of the market areas that I keep an eye on and the trend does seem to be increasing prices. Above peak levels? I don't know, it will be interesting to see your data, but with such a low inventory the sample size of properties is also very low.
6-8 months ago is seemed like almost anything in that area priced above $650K would sit on the market a long time (weeks/months) and sell for below asking. Now, everything seems to be going above asking.
JodyChunder
2013 Apr 20, 4:55pm
Greg -- when you gonna sell your dump in Danville and move down to Victor Valley? Pickings is gettin slim.
gregpfielding
2013 Apr 21, 4:12am
Greg -- when you gonna sell your dump in Danville and move down to Victor Valley? Pickings is gettin slim.
Haha unfortunately I rent my dump. Yes, a real estate agent who rents.
RentingForHalfTheCost
2013 Apr 22, 7:50am
I took 20K more out of my home than I paid for it, and my mortgage is STILL way less than what rent would be.
what % leverage is that?
Lucky leverage. There is another flavour and hopefully, you don't ever feel it. I know many in the SFBA that are making over $200K/yr as a family and are pretty much broke. They do live in a nice cottage though.
AD
2013 Apr 22, 10:15am
"Many are closing for 100K or more over their asking prices, pushing the market price of properties in Lafayette, Moraga, and Orinda up above the previous 2006-2007 peaks."
Check Zillow.com and even the homes in the nicer parts of Oakland are at August 2004 price levels.
I don't think I've ever been to the places in the article. A co-worker lived in Danville, so I've heard of it.
It won’t show in the data yet because the “pendings†haven’t closed. Many are closing for 100K or more over their asking prices, pushing the market price of properties in Lafayette, Moraga, and Orinda up above the previous 2006-2007 peaks.
See the examples... http://www.bayarearealestatetrends.com/2013/04/lamorinda-home-prices-back-above-peak-levels/