BAGB
April 29, 2019, 7:58pm
1
"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."
Not since the bottom of the last housing crash have homes in the San Francisco Bay Area lost value. But prices follow sales, and sales have been running extraordinarily low since last summer, when mortgage rates spiked.
manch
April 30, 2019, 4:06am
4
Time to check on @Rent_and_Vent to see if he wants to buy or not.
manch
April 30, 2019, 4:09am
5
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.
BAGB
April 30, 2019, 4:11am
6
Price cuts on what kinds of cities and neighborhoods?
manch
April 30, 2019, 4:18am
7
Price cuts in SF, Millbrae, Burlingame, Los Altos, Stockton and Roseville. Pretty much everywhere I track.
manch
April 30, 2019, 4:22am
8
I just saw this house in my alert minutes ago. I am shocked by how low its price was.
https://www.redfin.com/CA/San-Francisco/2162-43rd-Ave-94116/home/1636564
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.
manch
April 30, 2019, 4:52am
10
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
manch
May 1, 2019, 5:48am
12
Well, this smaller house in Bayview sold for the same price as the Sunset house above. Sunset is now cheaper than Bayview?
https://www.redfin.com/CA/San-Francisco/1511-Hudson-Ave-94124/home/1495472
BAGB
May 1, 2019, 6:09am
13
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
manch
May 1, 2019, 6:13am
14
Bayview may already be more expensive than Sunset. This tiny 860 ft house on a busy street sold for over 900K.
https://www.redfin.com/CA/San-Francisco/1951-Oakdale-Ave-94124/home/1015857
BAGB
May 1, 2019, 6:16am
15
It only doubled price since 2009. There might be something hidden in the house
BAGB
May 1, 2019, 2:02pm
17
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?
manch
May 1, 2019, 8:25pm
18
Bernal Heights flip, sold for way less than ask. Flipper likely lost money.
https://www.redfin.com/CA/San-Francisco/160-Banks-St-94110/home/1966215
BAGB
May 1, 2019, 8:37pm
19
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
manch
May 1, 2019, 9:47pm
20