Been tracking sold homes since last few months. The sold homes that totally blew the comps in the area were bought with asian realtors. And these houses are in like 7 rated school districts in east side or having tons of unpermitted construction. Who are these folks? Meta, nvidia stocks? if this continues non-faang might not be able to afford homes in the bay. I guess many first time home buyers just blindly listen to their realtors.
Earth quake/ 2008-like events do equalize things.
Thats bad for all. All i want is that people with stock money please dont inflate the copms. All it takes is one house to sell way above defined comps to inflate the future prices.
What’s any of this to do with Asian realtors?!
They known their clientele is rich and overbid by a lot for houses that doesn't demand that money
I do see it too, breyessa houses selling like crazy high even the ones with bad school(independence). I call some kind of money laundering lol, or folks are smoking whatever the realtors are feeding them.
Exactly zip cides 95132, 33 and 31. one berryyessa home with unpermitted construction got sold for 1.85. Another fixer upper bought for 1m sold for 1.85.. and these are crappy homes.. this is crazy..
You’ll be surprised to find that these home buyers are not in tech like you would think. They’re in restaurant or service industries. They mainly work with realtors that have connections to loan brokers that can get them loans with no income verification requirements. The messed up thing about it is that the banks, in order to meet revenue expectations will allocate X% of their portfolio loans for non-verification purchases, and these loans are in high demand for folks with income fluctuations. The banks are supplying these risky products that the real estate and loan brokers are peddling to the buyers. The banks are smart to figure out that the risk of default is low with certain ethnic borrowers. Plus, they can pull back on the loans or package them with low risk traditional loans and sell it on Wall Street — It’s all profit and greed.
Hmm... never thought that
Bay area housing will crash to never rise up again.
Can you give me examples.
I had shortlisted it. Didn’t go or submit offer because it goes above my target
What's the significance of them being Asian? You know non-Asian people work with Asian realtors too, right?
Not a lot right?
I totally see my community flooded with asian realtors, mainlynsouth asian