Bay Area sees unseasonable uptick in bidding war rate

Fed is flooding the market with liquidity.

How does that affect the housing market in Cupertino? Why are people looking so keenly now?

If Redfin’s data is to be trusted the recent warmup is not just Cupertino but SF and SV in general. The biggest thing that happened on the economic front is Fed cutting rates and restarting QE. That seems to be the most obvious cause.

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Which has caused a drop in mortgage rates.

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This home got bought in a single day. Looks like an all cash buyer. House looks like crap. It’s just land value.

It’s in the Cupertino High area. Isn’t it the weakest of all Cupertino high schools?

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Not the weakest. Homestead and Fremont High are lower.

The posting in another thread about the recent rent control bill triggered a thought. I strongly feel it’s the lifting of the rent control clouds from single family homes that’s causing this sudden surge in interest. It was passed on October 10th. May be the investors are back in action.

Are you calling bottom?

Yes, I think it’s already up 5%.