February saw a peak in new mortgage applications. So while we are reading about the bad state of the rela estate market there is a new group of buyers getting ready to jump in.
Mortgage applications surge as rates fall; Mortgage Bankers Association's weekly index shows that interest rates edged downward to lowest level since early December.
Alameda is seeming some crazy overbidding. A 3/1.5 listing on Gibbons Street brought multiple offers and a final sale price of $850,000. Other deals are in process so we can't publish prices, but multiple counter ooffers and selling prices way above asking are being seen again after a very quiet year. No one can tell if this is anectodal or the beginning of a very busy spring season. But then again Alameda is suffering from inventory shortage. In parts of Oakland and Berkeley things are at a standstill. Towns like San Leandro have plenty of properties on the market keeping prices at a standstill.
skip to main |
skip to sidebar
A place for us as real estate professionals to share our adventures in real estate with the East Bay Digs Community. Our particular focus is on new or inexperienced buyers in the East Bay, here in Northern California.
Labels
No comments:
Post a Comment