Real Estate sale in San Jose (San Francisco, Livermore: for sale, 2014, apartments)

[vrhunski]

Please check this map.

This is how many real estate properties are sold in last week.
http://www.basepic.com/2014/Oct/20/77403431.jpg

Check whole south bay area vs Livermore for example. Also compare how many people live in SJ + whole south bay vs Livermore. Even vs San Francisco.

I am checking this data for last couple months (week over week) and looks like no one is "really selling" anything in south bay area. There are some properties on market but looks like they are "waiting for huge offer" 15-40% above asking price.

Looks like we will have real estate prices spike very soon. I think people who wants to sell right now have to increase prices and to be serious about selling. I was on one open house last week and buyers was really ****-off asking agent if this is for sale for real!.

Crazy Real Estate drive by Apple and other companies here in bay area and it will getting worst for buyers.

[justinbro2002]

Originally Posted by vrhunski

Please check this map.

This is how many real estate properties are sold in last week.
http://www.basepic.com/2014/Oct/20/77403431.jpg

Check whole south bay area vs Livermore for example. Also compare how many people live in SJ + whole south bay vs Livermore. Even vs San Francisco.

I am checking this data for last couple months (week over week) and looks like no one is "really selling" anything in south bay area. There are some properties on market but looks like they are "waiting for huge offer" 15-40% above asking price.

Looks like we will have real estate prices spike very soon. I think people who wants to sell right now have to increase prices and to be serious about selling. I was on one open house last week and buyers was really ****-off asking agent if this is for sale for real!.

Crazy Real Estate drive by Apple and other companies here in bay area and it will getting worst for buyers.

I think the reason that more people are buying in Livermore vs San Jose is because too many people are priced out of the south bay and more and more people are moving to the far east bay and beyond. You can see that the whole 880 and 680 corridors in the east bay are selling too. Livermore is a nice safe family friendly town where you can still buy a SFH for around $500k. Not too many place you can still do that in the bay area. The valley is warming up too.

[wsugrad03]

Yep. It's an interesting map when you walk through the week over week sold properties. But when you look at the listing counts, there's a lot for sale. I've been seeing more properties in parts of SV I've been watching remain on the market for longer than usual. Usually after 30 days on the market, they drop the price 20-40k. But when a "hot home" hits the market, it's gone in a week. Good luck trying to buy it unless you waive all contingencies and escalate up 20%. You might not even get it even if you do.

Of course, once you cross 850k, your supply of ready willing and able buyers takes a nose dive. Take at look at the sales in a table view and you'll see why the sales are elsewhere. The average price per sq/ft is $502 in the bay area. Look at the sales price for the south bay for the past month, and the average sales price is $706/sqft. That's quite a large difference.

[SilentReign]

Originally Posted by vrhunski

Please check this map.

This is how many real estate properties are sold in last week.
http://www.basepic.com/2014/Oct/20/77403431.jpg

Check whole south bay area vs Livermore for example. Also compare how many people live in SJ + whole south bay vs Livermore. Even vs San Francisco.

I am checking this data for last couple months (week over week) and looks like no one is "really selling" anything in south bay area. There are some properties on market but looks like they are "waiting for huge offer" 15-40% above asking price.

Looks like we will have real estate prices spike very soon. I think people who wants to sell right now have to increase prices and to be serious about selling. I was on one open house last week and buyers was really ****-off asking agent if this is for sale for real!.

Crazy Real Estate drive by Apple and other companies here in bay area and it will getting worst for buyers.

I'm not from the Bay Area....but really?! That's what you see when you look at this data/map?! Homes are not selling because sellers are getting offers equal to listing prices and not 15-40% over asking?! Interesting theory but it's a bit far fetched IMO...

I'm no doom and gloomer, in fact I think prices in most markets have a lot of room to go up, but you have to be kidding yourself if you think South Bay (or the parts of that map with no activity) have very low sales activity because they are underpriced by sellers who are just messing around!

[skris4]

Two properties sold in our street in the past couple of months. Both were priced higher than what it should have been and both sellers were determined to get higher than asking by a good margin. I think with the current market the trend is to overprice and sell for much more than that. The only word to describe that is greed.

[justinbro2002]

Originally Posted by skris4

Two properties sold in our street in the past couple of months. Both were priced higher than what it should have been and both sellers were determined to get higher than asking by a good margin. I think with the current market the trend is to overprice and sell for much more than that. The only word to describe that is greed.

If someone is willing to pay those "overpriced" prices then by definition they are not overpriced. If they were overpriced then they would have to lower the price to sell. Are prices high?...yes...are prices higher than the average family can afford?...yes. Is trying to get the most money for your home greed?...I don't think so. Why shouldn't someone try and get the most for the home they are selling? Buyers drive the market not sellers. If you want to blame anyone blame the buyers paying the high prices. Is it a game of hot potato and the last ones to buy the homes before the run up end are gonna get burned..maybe. Will the high prices now look like a deal somewhere down the road...yes.

[dburbs1975]

^^ true, but in the US, markets are not driven by "down the road"

this is a nation in need of ritalin.

[rv2811]

I'm waiting for the new Apple hq to be built. My home is about 15 minutes(located in the Shasta Hanchett Park neighborhood) from the new Apple hq and I believe people are going to need a place to live. Plus the lack of rental housing/pricing in cupertino .Well at least that is my thought process. I will say this I'm greedy(bought in 2010) for sure and why not, but this is not the time to sell. In the 95126( rose garden) the market has cooled quite a bit. Homes are sitting longer and more price reductions. A new Whole Foods will be opening up in Dec located on The Alameda and lot's of new developments/apartments along the tired looking West San Carlos st.

[vrhunski]

I agree only desperate or crazy people will sell right now in south bay area but its unbelievable that only 3 homes was sold for last week (compering with SF or Livermore) on like 3 time more people (against SF) or 8 time more people compering with Livermore.

http://www.basepic.com/2014/Oct/22/72909156.jpg

I dont know but in this area there must be more people then in SF alone. I think only SJ has more people then SF let alone whole this area. South Bay area is now Really hot waiting for huge spike in real estate prices.

[justinbro2002]

I have lived in Livermore for 7 years and bought a house in 2011 I have seen a pretty noticeably change in the demographics with more and more Asians and middle eastern people moving in I figure they must be getting priced out of the south bay and other east bay cities.