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Old 09-22-2011, 12:05 PM
 
28,115 posts, read 63,687,353 times
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Here's a story on how long it takes to sell homes across the country...

The Bay Area has several of the fastest markets.

U.S. Cities Where Homes Sell the Fastest - Yahoo! Real Estate
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Old 09-22-2011, 12:57 PM
 
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My personal experience with the Oakland housing market is that a lot of those purchases are by investors. Most people I know that are into that game are trying to pick up all of the Oakland houses they can.
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Old 09-22-2011, 02:42 PM
 
Location: South Korea
5,242 posts, read 13,081,480 times
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Interesting that NYC is listed as one of the slowest markets.
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Old 09-22-2011, 02:53 PM
 
Location: Oakland, CA
28,226 posts, read 36,889,363 times
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Quote:
Originally Posted by Think About It! View Post
My personal experience with the Oakland housing market is that a lot of those purchases are by investors. Most people I know that are into that game are trying to pick up all of the Oakland houses they can.
The investors are on to something. I think it is easy to get your money back, and find suitable renters in Oakland.

There are plenty of areas (for example Adam's Point condos) that if you put 20% down, you can definitely have positive cashflow today.

I think there are also a lot of sellers in Oakland who have owned for a while and can get their mortgage payout even with current market value.
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Old 09-22-2011, 03:17 PM
 
Location: San Leandro
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California is a specu-flipper driven market, of course homes are going fast. Good time to be paying 50-100% down. But for an average joe looking to put 10% down?
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Old 09-22-2011, 08:56 PM
 
28,115 posts, read 63,687,353 times
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True... about half the ones I know are sold for cash to investors that either resell of rent... with most renting.

The two homes on my street both went to families that moved in... one used a first time home buyers program and the other works at a bank...
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Old 09-23-2011, 09:18 PM
 
Location: Boulder Creek, CA
9,197 posts, read 16,847,416 times
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Quote:
Originally Posted by Ultrarunner View Post
the other works at a bank...
...hopefully not foreclosing on people trying to hold on to their houses.
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