Rock bottom prices!

Real Estate Agent with Compass 01271748

Lately I have seen a flurry of homes coming onto the market and selling right away even in the deepest places in Contra Costa County where I usually never go.  I have been showing houses in Rodeo and writing offers and even there it is a mad rush to get your offer accepted!! Yes prices are a lot lower than anywhere else in Contra Costa but wow within a couple of days competition gets stiff for a chance to sell a home and some with squatters included!!  Prices have been climbing back up since February and on that note I received 2 emails from buyers who said that they had missed their chances at buying a home!  No wait!! that means that prices have reached rock bottom and now is the best time to buy before prices reach an all-time high again! (if they ever do).  We are at the bottom of the wave right now and even if a buyer pays $2000 more at most than his neighbors it will make no difference when the next neighbors pay $200,000 more than them!!  Are buyers becoming really picky or having delusions of grandeur?  I have definitely seen more champagne taste on beer budget than ever before.  This is a buyer's market but it will never be the old days of buyers market where buyers could demand anything.  If you are dealing with banks just getting the house at a good deal is good enough, bad as it is that is the way it works.

Comments (1)

Dave Roberts
Healdsburg Sotheby's International Realty - Healdsburg, CA

I heard from friends that Vallejo and Benicia were turning the corner and that the good old days of great deals are over. We're seeing in Sonoma County the same thing you talked about that the bottom of the market probably happened in late February. Good luck educating your buyers about the advantages of getting a house over not getting a house.

May 27, 2009 02:46 PM