2 month 300k drop, welcome to the crazy bay area housing market
https://www.redfin.com/CA/Sunnyvale/629-E-Evelyn-Ave-94086/home/172930343 2.05 (Jan 18)
https://www.redfin.com/CA/Sunnyvale/115-Lemmon-Ter-94086/home/143043205. 1.72 (MAR 11)
I got it, the first house location is trash, close to the train station, but a 300k difference? looks like even a tight supply won't help somebody lose their downpayment in 2 month.
for the current home buyers. BUCKLE UP! we might see something interesting happen very soon.
also: https://www.redfin.com/CA/San-Jose/6359-Prospect-Rd-95129/home/1595408?&utm_source=google&utm_medium=ppc&utm_campaign=1023838&utm_term=dsa-1341488488976&utm_content=463005976463&adgid=111663010768&gclid=CjwKCAjwlcaRBhBYEiwAK341jaSzeFhZ-ujggkVbdc29wAhBweCnvavTrI36o2qd2Ao84zgbwvxxiBoCeHsQAvD_BwE&gclsrc=aw.ds
since when lynbrook school district start seeing house price cut? of course this home close to the highway. but the price drop always starts from a less desirable house and they may propagate
Spoiler Alert: you will see tons of recent homeowners post their theories about how the price will always go up. some one for sure will say " if you are looking for buying, house price always go up" lol
#housing
comments
Note that rent is not low either in the same areas.
1. Real estate pumpers
2. Real estate dumpers
just check this out.. not sure syndey will be canary for the future bay area housing market. of course, you could say syndey is not bay arealol. but they have way more chinese buyers and rich investors.
LOW inventory last year => price surge => rate increase => Boom to Doom