patrick.net

https://www.zillow.com/homes/2302-W-Cantara-Dr-Dublin,-CA,-94568_rb/119591935_zpid/
Another one!

https://www.redfin.com/CA/Pleasanton/2307-Vineyard-Heights-Ln-94566/home/18967338
Reviewing offers in 26 hours and 27 minutes

Scaring buyers by putting "timers" for offers review.It must suck to be buyer in this market.

It's the same everywhere outside San Francisco (which is dropping like a rock) because people are fleeing the cities, esp. SF. Now's the time to pay for an overpriced shack! The further away you get from SF the better properties you can get. Recommend wine country.

The first one just had a 200K price cut, so let's not exaggerate.

I bought a home in the Oakland hills in 2007, I couldn’t believe how bad my timing was.

I bought a home in the Tri Valley at the end of 2020. I can’t believe how good my timing was (with much of the available inventory all of a sudden selling $100-300k above asking)

You lose some you win some, let’s see what the future holds

mell says

The first one just had a 200K price cut, so let's not exaggerate.

I understand but the Zillow estimate(which is on higher side) was 2.1M and Now they are trying to sell for 3M.
(Originally 3.2 M)
Even if it sells for 2.7M , It is still 600k above Zillow inflated estimate Dec last year.

It went pending, But looks like financing failed as appraisal will come nowhere near close to this.
3/16/2021 Pending sale $3,200,000 $726/sqft

election2020 says

mell says

The first one just had a 200K price cut, so let's not exaggerate.

I understand but the Zillow estimate(which is on higher side) was 2.1M and Now they are trying to sell for 3M.
(Originally 3.2 M)
Even if it sells for 2.7M , It is still 600k above Zillow inflated estimate Dec last year.

It went pending, But looks like financing failed as appraisal will come nowhere near close to this.
3/16/2021 Pending sale $3,200,000 $726/sqft

Beware of total shit shacks dressed nicely. We bid on a place outside of the immediate bay area but still in a pretty competitive market roughly what we thought it was worth minus first bidder discount, roughly 15 percent below ask. The seller didn't even counter just rejected and wanted the same asking price. We upped our bid by 5 percent so roughly 10 percent below ask and they happened to catch another offer. So they replied with a multiple counter bid request pretty much at the ask again after they had cut by like 1% or 2% and we held steady at the maximum it was worth to us. The other party overbid by their ask and then backed out during the contingency period while we found ourselves a newer, better, bigger and cheaper place for the price we thought it was worth. Be aware of the so called "sellers market". Be thorough with the inspections. If you overbid on a crap shack and find out during the inspections, make sure the seller fixes it to prime condition or gives you a substantial credit, like 5%-10%% of the sale price.

mell says

election2020 says

mell says

The first one just had a 200K price cut, so let's not exaggerate.

I understand but the Zillow estimate(which is on higher side) was 2.1M and Now they are trying to sell for 3M.
(Originally 3.2 M)
Even if it sells for 2.7M , It is still 600k above Zillow inflated estimate Dec last year.

It went pending, But looks like financing failed as appraisal will come nowhere near close to this.
3/16/2021 Pending sale $3,200,000 $726/sqft

Beware of total shit shacks dressed nicely. We bid on a place outside of the immediate bay area but still in a pretty competitive market roughly what we thought it was worth minus first bidder discount, roughly 15 percent below ask. The seller didn't even counter just rejected and wanted the same asking price. We upped our bid by 5 percent s...

Mell,
I am not in market. I would have waited if I were. I was thinking to sell one of my property, But i am worried about losing lower tax base.
I have looked at "sale" price for ones sold already this year and things indeed are crazy.
What I don't know if it is onset of hyper inflation or another housing bubble as I asked in original post.

election2020 says

mell says

election2020 says

mell says

The first one just had a 200K price cut, so let's not exaggerate.

I understand but the Zillow estimate(which is on higher side) was 2.1M and Now they are trying to sell for 3M.
(Originally 3.2 M)
Even if it sells for 2.7M , It is still 600k above Zillow inflated estimate Dec last year.

It went pending, But looks like financing failed as appraisal will come nowhere near close to this.
3/16/2021 Pending sale $3,200,000 $726/sqft

Beware of total shit shacks dressed nicely. We bid on a place outside of the immediate bay area but still in a pretty competitive market roughly what we thought it was worth minus first bidder discount, roughly 15 percent below ask. The seller didn't even counte...

I see. Well if you need another place to live then keeping the lower tax base is likely better unless you can move out of CA. If it's a 2nd home then it may not be a bad time to put it onto the market. I doubt we will see hyperinflation. We could even see deflation once everyone runs out of stimulus money and the bond market doesn't cooperate.

mell says

election2020 says

mell says

election2020 says

mell says

The first one just had a 200K price cut, so let's not exaggerate.

I understand but the Zillow estimate(which is on higher side) was 2.1M and Now they are trying to sell for 3M.
(Originally 3.2 M)
Even if it sells for 2.7M , It is still 600k above Zillow inflated estimate Dec last year.

It went pending, But looks like financing failed as appraisal will come nowhere near close to this.
3/16/2021 Pending sale $3,200,000 $726/sqft

Beware of total shit shacks dressed nicely. We bid on a place outside of the immediate bay area but still in a pretty competitive market roughly what we thought it was worth...

yes the market does behave strangely.
May be it is just influx of Friscans to east bay.