Bay Area home price down

"The next two months will be key to understanding whether all the weakness in prices and sales is due to fluctuations in interest rates, or whether the market has simply hit an affordability wall. Inventory is rising, but largely because homes are sitting on the market longer, not because there are a ton of new listings.

This tech-heavy housing market could also be impacted to the up or downside from IPOs including Lyft, Pinterest, Uber, Slack and Airbnb."

Time to buy.

Many landlords would :pray: you

Time to check on @Rent_and_Vent to see if he wants to buy or not.

Not sure if it’s due to this article or not, but I am seeing a drastic increase of price cuts today in my Redfin alerts.

Price cuts on what kinds of cities and neighborhoods?

Price cuts in SF, Millbrae, Burlingame, Los Altos, Stockton and Roseville. Pretty much everywhere I track.

I just saw this house in my alert minutes ago. I am shocked by how low its price was.

Sure, it’s in Siberia Sunset but still it’s huge at over 2300 ft.

Not sure why you are shocked. Prices are now back to earth. Seller couldn’t wait no more and settled for all cash.

Isn’t Sunset the Heaven on Earth? I don’t know what being back down to earth means. Millbrae is still holding pretty firm.

I saw this too, it was listed in dec of 2018 wonder what’s the deal there

Well, this smaller house in Bayview sold for the same price as the Sunset house above. Sunset is now cheaper than Bayview? :thinking:

I think Bayview may become more expensive than Sunset after 20 years. I don’t see many higher people moving to Sunset, there’s not much room for improvement

Bayview may already be more expensive than Sunset. This tiny 860 ft house on a busy street sold for over 900K.

It only doubled price since 2009. There might be something hidden in the house

100K worth of pot? :smile:

I think they will open lots of marijuana stores on 3rd street, this neighborhood does not resist pot, they may well love marijuana.

Will this negatively affect housing price in bayview?

Bernal Heights flip, sold for way less than ask. Flipper likely lost money.

It seems that price for an average house kept its value, but newly remodelled house lost value.

Now it’s better to buy a fully refurbished house instead of buying an old house and remodel

Another one below asking price. Seller initially asked for 1.9M !