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Bay Area Real Estate Monitor: How is the market in your area?
invite response
2013 Jun 23, 10:43am 1,530 views 4 comments
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And I'll start:
Sunnyvale seems to have tons of more supply in bad school districts. It also seems to have quite a few more old non-updated properties in the good school districts. Some properties are now taking more than a week to sell in the good school districts (which would have gone like a hot cake in 2012-early2103).
Mountain view also seems to have more inventory in the areas with los altos schools. Newer places seem to still get tons of dummy traffic of people willing to put their pants down and offer their buttholes to the seller. But the older places (although in good school districts) do not seem to have as much traffic as earlier this year at all. There is a specific property in MV with los altos schools, asking 10% below zillow estimate, and they have not been able to sell it for a week!
FuckTheMainstreamMedia
2013 Jun 23, 10:49am
This is a totally ridiculous question. You act as though the real estate market acts like the stock market.
It does not.
Often long term trends are only verifiable in hindsight. Furthermore, a long term slowdown or price decrease may not be on a nominal basis and in fact might be only seen on an inflation adjusted basis.
Theres another reason its ridiculous. Anyone can check Redfin or similar and check on all current MLS listed prices as well as actual sold prices for any given time frame from 1 month to 3 years I believe. So theres no need for a thread attempting to track sold home prices and declines other than what people already do which is copying and pasting info from Realytrac and Case-Shiller.
Also, more information:
Two agents in two open houses said the market has slowed down in the last two weeks.
Also, sellers in good school districts do not seem to be expecting cash investors anymore. (while a couple of months ago, they were all expecting a cash investor or two that contacted them before the house opened).
Finally, one seller of a sunnyvale house in a good school district said: we are pricing it lower because we know there is a wave of supply coming.
http://www.zillow.com/local-info/CA-Berkeley-home-value/r_16992/
just over 2007 prices in berkeley
Hi Bay Area Neighbors:
With interest rates rising, I would like to start a thread for all of us to give real time information about how the market is going where you live.
The idea is to answer the following question: Is the real estate market slowing down in the bay area? Is a buyer's market about to start?
#housing