Market seems to be slowing down quite a bit with a lot of reductions even in Palo Alto. Looks like the impact of mortgage changes is starting to feel. Do you guys think downturn finally has arrived?
I went to a couple of open houses in santa clara last weekend. It was more crowded than in september and october. The agent told me there were about 50 groups visited the house over the weekend. I think that prices will go up but at a lower rate.
Sorry the agent forgot to tell you, 49 of the groups were hired friends.
Never, ever trust the agent. Any agent. Even your agent.
I'm out of the loop, what were the changes?
Slower appreciation is not a downturn, unfortunately.
Definitely picking up again. This one went 300K above asking https://www.redfin.com/CA/Saratoga/19971-Mallory-Ct-95070/home/1793353?utm_source=ios_share&utm_medium=share&utm_campaign=copy_link&utm_nooverride=1&utm_content=link
Oh no I was hoping the opposite...
Markets back and it’s not looking good for buyers. If you can, snag a place, before the IPO money hits.
Actually lots of price reductions in Palo Alto .. so very unusual ..
Did you see how many places are pending on Redfin in Palo Alto? It’s a lagging signal of buyer demand given that prices are moderating. But things are still selling over asking.
No. Just a reversion to nominal insanity from extreme insanity.
This :)