Bay Area real estate “shake up”!
August 30, 2008 · Karin Cunningham
Can you shake it up anymore in the East Bay right now? What I mean is, I have been showing property to different sets of clients in Pittsburg, Antioch and Hayward and all the homes have 10-20 offers on them! What the heck is going on?? I thought this was a buyer’s market!
Well, what we have observed is the real estate market in those areas have reached rock bottom!
- In Antioch, there are two to eight year old homes listed for $199,000, bank owned REO’s that sell for up to $100,000 over the list price with 10-20 offers.
- In Pittsburg, there are sprawling older ranch style 4 bedroom homes on 12,000 square foot lots listed at $229,000, bank owned REO’s, pending with multiple offers and back ups.
- Hayward has some awesome deals that I don’t even want to think about right now because they are being snatched up so fast!
Now, I live and work in San Bruno and there are:
- 10 houses for sale under $400,000- San Bruno
- 5 houses for sale under $400,000- Daly City
- 17 houses pending in San Bruno, SSF, Pacifica and Daly City UNDER $400,000
Now THAT’S a real estate “shake up” because we haven’t seen activity like this is a few years now!
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