Owner Occupied Buyers Filling The Void

Dated: August 15 2013

Views: 1797

With the Bay Area markets moving up anywhere from 15-25% over the last year, many investors have stepped out of the market as the cash flow proposition has diminished significantly. Their is still ample investor interest under $300,000 in some markets, however when you look at the offers coming in for properties over that amount what you will find is owner occupied buyers are now back in the game and sometimes able to go into contract at or slightly above asking. We are also seeing a trend of homes selling slightly under when homeowners price a bit high relative to current comps. Some of the hottest markets in the East Bay are still Pleasant Hill, San Ramon, Walnut Creek, Lafayette, MartinezDublin & Danville. In those markets you are seeing mostly owner occupied buyers purchasing. In markets such as Concord & Martinez, there are still very good investor opportunities with the condo market and that market remains highly competitive, with cash offers often landing the contract with a quick close. We expect rates to remain stable and inventory to tick up slightly as we move towards the fall market. You can view all live inventory in the East Bay on any of the links above.

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