“We should have bought then...” heard from home buyers in Berkeley CA
During last Sunday’s open house in Berkeley CA, I had a chance to talk with some buyers with pained looks on their faces.
After a while, one of them said “We should have bought then...” They started looking six months ago, even before the time that the market in the Bay Area CA started heating up around February 2012 in many cities in the county.
The man said they decided to wait to see if prices will come down even more. But the prices didn’t go down. And the activity picked up. Now, they’re finding themselves in competitive situations and losing to cash buyers.
Another couple overheard, and chimed in that they regret not having bought last year when they started thinking about buying a house. Yes, they said the same thing: “We should have bought then...”
They said they found some houses but they thought they could find something better for less. Like the first couple, they are concerned at the very low inventory of homes to choose from, and the fact that every house they liked received multiple offers. And this trend seems to continue.
See this news article "Bay Area Housing Market Shows Signs of Recovery."
As of this writing this property in Berkeley has about 16 offers in hand, and more are expected by the time they review offers tomorrow.
Waahhhh!
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