Just a datapoint in bay area

Apple
kMcR74

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kMcR74
Apr 14 24 Comments

I’m a seller in South San Jose. I got 12 offers all over asking price yesterday. Crash? Not sure.. myself is now a buyer again.

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 TOP 24 Comments
  • New
    ArindamBad

    New

    ArindamBad
    At this point, it is how high were the offers. Were they more than a month ago? Or slightly under?I bet a month ago you would have got 2x the offers. It won't crash overnight. Real estate takes a few months to crash or correct. The tightening is just being talked about. Posting realtime data is unrelated to the future happenings due to policy.
    Apr 14 2
    • Apple
      kMcR74

      Go to company page Apple

      kMcR74
      OP
      About 10% higher than same sqft neighbor 1 month ago
      Apr 14
    • New
      ArindamBad

      New

      ArindamBad
      That's good info. Good for you. Aggregate will show up in a month anyway and we will know for sure
      Apr 14
  • Apple
    jitsu

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    jitsu
    Zip code?
    Apr 14 2
  • Google
    ghtC65

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    ghtC65
    You'd probably see 20+ offers before, this is a sign of things cooling down.
    Apr 14 5
    • Intuit
      ai+data

      Go to company page Intuit

      ai+data
      if 20 folks bid and you get outbid, chances are the rest 19 would bid on the next house. If 5 do, you will have less competition next time. Of course its more complex that this! :D
      Apr 14
    • eBay
      nicehhaa

      Go to company page eBay

      nicehhaa
      No! The lower the price listed, the more the offers, if you listed 1.5 vs listed 2.0, you got a lot more with 1.5. That is the trick now and everyone listed low
      Apr 14
  • Apple
    fightfed

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    fightfed
    I feel like you’re selling at the best time (peak). You house may be more appealing than neighboring house as well. Not a lot of people will be willing to sell their houses when the mortgage they put on the house was with low rate.

    Therefore, most of houses out there in the market should be in poor condition. In your case, you are selling because you are moving. That means yours might be one of the gems. People are willing to spend any money for such a house.

    Also, I think Bay area may be impacted very little overall given how many folks are there with so much stocks. There are a lot of people without kids yet who never sold their stocks. They can spare to spend them when needed which means they wouldn’t care much about mortgage increases. So I think Bay, Austin and Seattle will be an exception. But the rest of the areas may suffer a bit down the road.
    Apr 14 0
  • Marqeta
    GasonJ

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    GasonJ
    Thanks for sharing real data. People fail to realize that price will keep going up till at least mid 2024.
    Apr 14 2