The market report for Newark, Ca. for 11-30-12 is that there is not much about which to report. Sure, houses are selling. They are selling so fast that they don’t stay on the market long enough for many buyers to even find them. Buyers are frustrated! Limited viewings. Short offer deadlines. Limited inventory. Multiple offers. Everything is combining to make a challenging market for buyer and an incredible opportunity for realistic sellers. Realistic – because badly priced properties will still languish until properly priced.
What a difference a year makes. In 2011 there were numerous houses for sale with lots of REOs and lots of shorts sales. Now…nada! Zilch! At least it seems that way.
Prices have been rising but are still far below the levels we saw a few years ago. Houses are still a bargain. Interest rates remain incredibly low. The window of opportunity for aggressive, committed, realistic buyers is still open.
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