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Old 10-25-2014, 12:35 AM
 
424 posts, read 548,803 times
Reputation: 240

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there is currently a mini-dump on commercial real estate going on. why?
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Old 10-25-2014, 12:59 AM
 
392 posts, read 804,056 times
Reputation: 132
Google leases Moffett Place, buys part of Pacific Shores - Silicon Valley Business Journal

http://www.livemint.com/Companies/fO...r-585-mil.html

Market for commercial real estate lease, sale and construction is crazy strong now.


Just wait until early next year when Apple become really crazy.
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Old 10-25-2014, 01:36 AM
 
781 posts, read 738,682 times
Reputation: 1062
Quote:
Originally Posted by tehsquishmeister View Post
That is just wishful thinking, it's not going to happen. You sound like a real estate agent grasping at straws, much like 2006/2007.

Prices are already at the teetering point IMO.*

* I have no vested interest in bay area home prices, I could not care less. I have sympathy for those still wanting to buy. The market looks absolutely brutal again and is poising itself for another correction.
You 100% read my mind.... Sounds like a realtor.
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Old 10-25-2014, 10:42 AM
 
Location: South Bay
327 posts, read 960,640 times
Reputation: 192
Quote:
Originally Posted by vrhunski View Post
Trust me guys. In next 6 months prices are going to be 30% up for SJ. I expect biggest spike between Mart-May 2015
I completely disagree. The sales aren't happening because nobody can afford to buy these overpriced junky homes. When the 300k tech couples are getting priced out, you know the market is off its kilter. It's wishful thinking to even think prices will remain where they are. They're going to correct down, and right now is probably the beginnings of the pivot.
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Old 10-25-2014, 11:14 AM
 
392 posts, read 804,056 times
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Yes wsugard03 but please go today or tomorrow on some open house in San Jose and check how many desperate people (buyers) want to buy something. I put like 30 offers all of them 10-15% above price and none of them work out. Scenario is always the same. Seller give up from sale.

I woke up early today. (Saturday) I plan to visit 15 open hoses. I will buy any single family home or town home on market right now but none of them are really for sale. Those buyers are some jerks who probably wants some fun or attention or something.
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Old 10-25-2014, 12:58 PM
 
1,021 posts, read 1,654,763 times
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Since the late 70's we have had several housing booms and busts followed by a recession. The average recession lasts 4 years followed by a boom.The average boom is 5 to 7 years with home prices returning to previous boom highs in 2 to 3 years. We are around 3 years into a recovery and boom. Do we have 2 to 4 more years of price increases?
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Old 10-25-2014, 09:45 PM
 
Location: West Coast - Best Coast!
1,979 posts, read 3,510,842 times
Reputation: 2343
Quote:
Originally Posted by vrhunski View Post
Yes wsugard03 but please go today or tomorrow on some open house in San Jose and check how many desperate people (buyers) want to buy something. I put like 30 offers all of them 10-15% above price and none of them work out. Scenario is always the same. Seller give up from sale.

I woke up early today. (Saturday) I plan to visit 15 open hoses. I will buy any single family home or town home on market right now but none of them are really for sale. Those buyers are some jerks who probably wants some fun or attention or something.
What makes you think the houses aren't sold? Just because they don't accept your offer? I hope you're working with a real estate agent that knows what they're doing (and I've got no dog in this fight since I'm not in business in California).
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Old 10-25-2014, 09:48 PM
 
Location: West Coast - Best Coast!
1,979 posts, read 3,510,842 times
Reputation: 2343
Quote:
Originally Posted by bobby_guz_man View Post
That's crazy. I just checked Redfin for San Jose specifically, and last 1 week there were only two homes sold. I picked all options (SFH, townhomes/condos, all sizes, all types of beds/baths, all ages). And there were only TWO sold.

Last 1 month in San Jose = 131 sold.

Did something just happened the last 1-2 weeks? I have NEVER seen this on Redfin for San Jose, EVER.
I can tell you that the stock market took a beating with the Ebola news. Then you've got the ISIS mess.

But as we get closer to the holidays buyers will take a break. No one wants to move during the holidays. And some sellers will wait or even pull their houses off the market until after the holidays.
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Old 10-26-2014, 11:43 AM
 
Location: Paranoid State
13,044 posts, read 13,792,188 times
Reputation: 15837
Quote:
Originally Posted by vrhunski View Post
Trust me guys. In next 6 months prices are going to be 30% up for SJ. I expect biggest spike between Mart-May 2015
Just curious where you bought your crystal ball.

Why do you think this? That's a very bold statement.
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Old 10-26-2014, 11:47 AM
 
Location: Paranoid State
13,044 posts, read 13,792,188 times
Reputation: 15837
Quote:
Originally Posted by wsugrad03 View Post
I completely disagree. The sales aren't happening because nobody can afford to buy these overpriced junky homes...
I think there is another reason (actually, maybe it is the same reason but just observed from another perspective).

Sellers wishing to move up are afraid if they sell, they won't be able to buy a replacement. Thus, the people who are actually selling (& closing) are people who (a) are leaving the area for whatever reason, and (b) people who are successfully able to purchase a replacement.

It has always been common for a buyer to make the offer contingent upon being able to sell their current residence. We are now seeing an odd seller contingency: selling contingent upon being able to buy another property.
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