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Old 03-15-2021, 06:02 PM
 
Location: California
1,424 posts, read 1,640,342 times
Reputation: 3149

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https://www.sfgate.com/realestate/ar...P-CP-Spotlight

Real estate brokerage Compass characterized San Francisco's market as coming "in with a vengeance in early 2021, especially within the city's house market," in a recent report that revealed the year-over-year active listings for houses and condos was up 66% for February.

And as for the much reported Bay Area pandemic exodus? There may be signs that the tide is returning to San Francisco.

"We're even starting to see buyers who left the city make their returns," said Thuma, "after moving away during the pandemic."
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Old 04-14-2021, 11:51 AM
 
4,038 posts, read 4,472,098 times
Reputation: 1891
We won't find out until the next census is released, but it seems the exodus of remote tech workers was vastly, overblown.
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Old 04-14-2021, 01:37 PM
 
Location: California
1,424 posts, read 1,640,342 times
Reputation: 3149
Quote:
Originally Posted by Dave Coe View Post
We won't find out until the next census is released, but it seems the exodus of remote tech workers was vastly, overblown.
Yep. Emphasis on vastly
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Old 04-14-2021, 07:31 PM
 
21 posts, read 37,895 times
Reputation: 64
Quote:
Originally Posted by Dave Coe View Post
We won't find out until the next census is released, but it seems the exodus of remote tech workers was vastly, overblown.
Then why are there still over 100 offers on an average tract home in Sacramento?
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Old 04-15-2021, 09:25 AM
 
Location: SF Bay Area
18,983 posts, read 32,686,129 times
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Quote:
Originally Posted by sharapata View Post
Then why are there still over 100 offers on an average tract home in Sacramento?
Because there are very few homes on the market compared to normal.
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Old 04-15-2021, 09:32 AM
 
Location: Land of the Free
6,750 posts, read 6,744,776 times
Reputation: 7600
Quote:
Originally Posted by sharapata View Post
Then why are there still over 100 offers on an average tract home in Sacramento?
Because there's no single family inventory in California. 3/4s of all permitted units in the Bay Area are condos/apts, including the suburbs. People don't move from SF to Sac to live in similar condos or apts they're leaving behind. Single families from the East Bay out to Sac in reasonable neighborhoods are in very short supply, and will remain so even if the City of SF starts to come back.
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Old 04-15-2021, 10:48 AM
 
Location: California
1,424 posts, read 1,640,342 times
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https://www.bayareamarketreports.com...et-trends-news
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Old 04-17-2021, 12:41 AM
 
5,588 posts, read 5,029,295 times
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What happened to the prices in 1974 when you could get a house on the beach in the outer Sunset District for $46,000 or in inner Sunset, Golden Gate Heights, Forrest Hills for $65,000 or Midtown Terrace for $78,000, Bayview for $35,000, Bernal Heights for $19,000, Oceanview for $19,000+ Westwood Park for $47,000, Richmond District $80,000+ Sunnyside for $42,000
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Old 04-17-2021, 12:45 PM
 
Location: az
13,804 posts, read 8,032,288 times
Reputation: 9425
Quote:
Originally Posted by sharapata View Post
Then why are there still over 100 offers on an average tract home in Sacramento?
Because it might have been priced to create a bidding war.

In SF for example it's common for RE agents to list a home undermarked value, get bids and 14-21 days later attempt to have buyers to compete with counter offers. It's a game both buyer/sellers agents understand.

i sold my house off market. I was aware by early 2019 the market had begun to slow. I went to plenty of open houses where there were only one or two other people looking. Putting my house on the open market would have been the kiss of death esp. with the repairs needed. However, off market I tell unsuspecting buyers that if they want the house...pay asking price. Otherwise they could wait and take their chances when the home hits the MLS (open market.)

I only needed one buyer and after three weeks... nabbed one. Sold it for good 150k over market value. But why didn't the buyers agent explain to his clients this wasn't a particularly good deal?

Because my RE agent told the other agent it was asking price. Take it or leave it.

Take it and the sellers agent pockets an easy pocket a 41k commission. Leave it and he gets nothing.

Didn't take long for other agent steered his clients toward accepting my price.
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Old 04-17-2021, 12:53 PM
 
Location: az
13,804 posts, read 8,032,288 times
Reputation: 9425
Quote:
Originally Posted by HappyinCali View Post
https://www.sfgate.com/realestate/ar...P-CP-Spotlight

Real estate brokerage Compass characterized San Francisco's market as coming "in with a vengeance in early 2021, especially within the city's house market," in a recent report that revealed the year-over-year active listings for houses and condos was up 66% for February.

And as for the much reported Bay Area pandemic exodus? There may be signs that the tide is returning to San Francisco.

"We're even starting to see buyers who left the city make their returns," said Thuma, "after moving away during the pandemic."
I had two RE agents from Compass make a pitch to sell my home. Both were slick and came prepared with a lot of graphs and data. They told market value was 1.4 -1.5 million considering the repairs needed.

I got 1.7.
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