Well overall Bay Area RE hasn’t budged, specifically the sale price. Number if sales have dropped but closing prices are still going up. No end in sight on when there will be u turn. If sellers literally refuse to accept any lower price then it’ll never turn.
I will list my rental property in the market SFH south bay in early May. We will see how buyers react.
As long as fully vacant, you should do well I think. I am hearing and seeing properties in SF with tenants (granted some are protected) not moving. Hence why if I want to sell my SF Sunset SFH this year I will need to figure out how to get 2 more tenants to move out. I ain’t paying some ridiculous buy out. At least one of the tenants was semi reasonable.
just stand in front of the house and keep robbing them for 800-900 bucks a day below the limit, they’ll move out fast
Haven’t looked at the sales price data but overall I get the feeling there are a lot more price reductions now, compared to a few months back.
5% mortgage rate on a $2M loan is pretty serious money.
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