Real estate prices start going back up again?
For the last few months, noticed the real estate market was softening. Hoping to buy when it really goes down but the prices are started going up now. Not sure if it is going down anytime soon.
Got down from 5 millions to 4.8 millions for a 1000 sqft apt? :)
More like to 4.950
Relax it’s the correction phase. It will lower people are still accepting (buyers and sellers) that it’s not sustainable.
This happens every year. Less people buy in the winter (because no one wants to deal with moving around the holidays) so things soften
I also noticed that the prices are picking up and open houses are more crowded comparing to the second half of last year. Stock market is more stable, interest rate is low again and bunch of new IPOs coming. So I would expect the prices would pick up further :(
Interest rates low again. Ummm?? Do you follow the news. Interest have been going up for a while and now may be will plateau for some time before fed resume raising them again. Not sure how they are low again.
Yes I am following. I was comparing to second half last year, rates right now are similar to last year this time. Also based on Fed’s policy, there might not be any rate increase this year, rates are plateaued as you mentioned.
I work in real estate part time, and I assure you, it’s not going to be getting any cheaper in the Bay Area, if that’s where you’re looking. There were a few good deals recently but still look to offer 100 to 250k over asking to get a ratified deal.
Do you consider East Bay a place with future upside? Hayward, Newark etc
Depends, are you working from home? Because that commute to the peninsula or South Bay is not getting better. I don’t keep too much of an eye on that side since I’m mostly in Palo Alto through San Jose. But with more people moving away to cheaper areas, It could be a good investment right now. It definitely will not appreciate as much in value as quickly if you’re looking for that... A client is thinking of selling their PA home that was 2.2 mil 2.5 years ago. We expect close to 4 if it’s listed this summer.
Why buy? It's much cheaper to rent
Buy buy buy!!