Last Wednesday, ABC7 news anchor Reggie Aqui invited me over to his show to talk about the state of real estate in the Bay Area. Are we in a real estate bubble? Here’s a summary of what we talked about and what buyers and sellers in the Bay Area really need to know.
Here you will find the updates I put out about the market and the changes we are seeing.
What the f—? A couple of months ago, I put out a video on YouTube talking about the housing bubble and how I didn’t think we were in one. At the time, I had some good reasons to think that. However, the numbers I was just looking at, and some anecdotes that I want to share with you have me feeling different today. So today, I’ve got two stories and a little bit of data that I want to share with you which I think you will find interesting. Hopefully, this will be able to help you make a good decision when it comes to buying or selling your home.
Something in yesterday’s Alameda Journal just caught my attention. It’s an article out of the December 18 edition called “Renter’s Hunt for Deals and Short-Term Commitment.” Why do we care? It’s renters. It’s not homeowners, it’s not buyers, not interest rates, right? Here are the things I got from the article and my Bay Area Real Estate Market 2021 Prediction.
As recently as last year, late September is usually the time that things start to slow down and start to sleep as we approach the holidays. As we get closer to October, there is typically less buyer activity and less inventory. This year, however, the air has just recently cleared out and instead of things starting to slow down, it seems like we’re actually picking up a bit. For today’s post, I will be giving an East Bay real estate market update for late September 2020 and share with you the reasons why we’re seeing a different trend.
“Have you been working out? You look great and I’m impressed with how much you can lift these days.” That’s my attempt at a joke regarding the East Bay real estate market right now. Seriously though, if you list out all the crazy forces that have occurred this year, our market is looking quite robust. COVID, BLM activism, Wild Fires, Unemployment, and all the news of people leaving the state, you would think that the straw that breaks the camels back has to be coming. However, our market keeps on banging out reps despite the added weight.
What is going on with Mortgage rates? Why are they going up instead of down? Since I am not a lender, I have asked my good friend and lending partner Hunter Markwardt to talk about what he is seeing in the lending world. Hunter is an Executive Loan Advisor for RPM Mortgage and we will …