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Old 06-04-2013, 11:14 AM
 
370 posts, read 863,173 times
Reputation: 236

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I read this article and thought it would be helpful to provide. A few threads around here have talked about "hedge fund" and international buyers driving up prices in the area..some stats below:

* Absentee buyers bought 28.7% of all bay area homes in Feb 2013. Used to represent 10%
* Focused on places like Alameda, Solano and Eastern Contra Costa County. Cities like Pittsburgh and Antioch
* Average purchase price point of $139K

the article is embedded below:


Absentee buyers snap up single-family homes - San Francisco Chronicle


Since I asked many times for these stats, thought i would provide some to those interested..
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Old 06-04-2013, 02:50 PM
 
12,823 posts, read 24,406,112 times
Reputation: 11042
They are either going the slumlord route or the "flip this house" route.
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Old 06-04-2013, 03:23 PM
 
370 posts, read 863,173 times
Reputation: 236
a $139K price point excludes most of the Bay Area. I kept hearing anecdotal information about hedge fund buyers and this article seems to indicate its limited to very specific areas.

No data about about international buyers though..i would assume the international buyers you hear about arent buying in alameda, contra costa, or solano counties for trophy properties.

Quote:
Originally Posted by BayAreaHillbilly View Post
They are either going the slumlord route or the "flip this house" route.
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