Well I guess $300K over the asking was the magical number. I heard that my offer was not accepted but I was not told who got it and if it was an all cash versus an offer over mine.... My clients and I are bummed. Everyone around me is shocked that prices in Berkeley are still crazy and that people are overbidding by that much.
I can't say that it is true for every single house but given our lack of inventory I have seen many houses go over the asking price. El Cerrito has slowed down and prices have gone down too but the house around the corner from my office in the St jerome/1000 Oaks area received 4 offers so that is a good sign. Interest rates are holding up well and my upcoming listings should do well in this market. I just hope I don't have to compete against similar homes on the market at the same time as mine.
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