Has anyone bought a brand new house in Bay Area? (Like Dublin/Pleasanton or other up and coming areas). How was your experience? Is there a bidding war for new homes too?
no bidding war, market is cooling down so you can offer 10% below asking
Thanks, that’s comforting to know. I am tired of putting 20% above asking on shitty homes and losing bids.
Cooling down in certain cities, but the desirable ones up and down the peninsula are still going strong. Many “entry” level homes between 1.5 to 2 mill are selling over asking.
No such thing as a new SFH in the Bay Area. Only 50 year old or older houses. Unless your buying a townhouse or condo which are horrible investments.
Why is a townhouse/condo a horrible investment?
Less desirable therefore first to drop in a crash. Also you have to pay hoa which most people dont want to do
Land. Land. Land. Condo is cheaper than townhome. Townhome is cheaper than SFH (broadly speaking). This is all because of square footage of land... Again, broadly speaking. There are exceptions of course. Townhomes in highly desirable neighborhood can sell more than SFH a quarter mile away due to various reasons like school, demographics, or amenities. Talk to an agent.
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No bidding war and good experience