No rent control - Will Bay area home inventory go down?


#21

I was under the impression that in san diego ballots yes to prop 10 was leading?


#22

It flipped after the first two hours. San Francisco was the only one where Yes was higher.


#23

do you have a link?


#24

Same one I gave you last evening:

https://elections.ap.org/cbslocalmedia/election_results/2018-11-06/state/CA/race/G/raceid/8747


#25

Prices are dropping anyway


#26

In the last week, SFH inventory has been dropping in Fremont at a brisk rate especially in the less than 1M price range. There are even all cash offers being made. I wonder if this is being noticed elsewhere too.


#27

Upcoming turkey week nothing to do with it???


#28

I heard that a few people got outbid by full cash buyers in Willow Glen last week.
My colleague just bought in WG as well over asking price.
Given that now is traditionally slow season, it may be sign of picking up?


#29

I don’t think it’s a thanksgiving phenomenon. Stale inventory is getting under contract. In neighborhoods I follow, you really only get 1-2 good listings at a time. Traditionally, there isn’t a flood of inventory anyways, but it looks like there isn’t inventory buildup. In PA you can be picky in the 6M range, but they aren’t the cream of the crop.

Last year the spike in values was happening right around now.


#30

Good info. So looks like it’s an overall trend. I never thought so many people would be worried by rent control. To me the all cash offers point to RSUs getting cashed out. Some Nvidia employees must be feeling really smart after the 20% drop in a single day!


#31

Is the inventory going down due to many listings going pending, lack of new listings coming to market, or stale listing delisted?

With a poor stock market and a high interest rate, it’s hard to believe that market is going up in November.


#32

I am personally aware of bidding for a specific property in Fremont that had an all cash offer. jane mentioned another one in Willow Glen. Definitely more activity.