It's the simple "Supply and Demand" that is fueling this competitive market we are in. Low inventory and buyers trying to take advantage of extremely low interest rates are allowing sellers to get as much as they can for there home. Most sellers in the Bay Area are getting up to 30 or more offers these days.
Some reasons for the low inventory can be contributed to homeowners refinancing to low interest rates, loan modifications and government pressure for banks to work with homeowners in exploring there options before foreclosure.
According to DataQuick, the median price in the Bay Area has increased 32% in the last year. If we can’t get more inventory for buyers, we will continue to see home prices increase at a similar pace.
Author:Kevin Kieffer Phone: 925-300-8000 Dated: January 25th 2013 Views: 818 About Kevin: Kevin R. Kieffer is a Broker Associate and Realtor with Compass. His primary focus is the East Bay r...
The EastBayPro Team of Compass Real Estate consist of the following professionals: Kevin R. Kieffer, Broker Associate, Naomi T. Kieffer, GRI, Realtor, Scott & Rochelle Maher, Realtors, Realtor, Matt Rubenstein, Realtor, Ken Wilson, Realtor, Taylor Pollard, Realtor & Heather Gowdy, Realtor. This team is ranked in the top 1% of Contra Costa County and are Five Star Agents as seen in Diablo Magazine - Offices in Walnut Creek & Danville - serving communities throughout the East Bay
Home ownership is commonly associated with a sense of accomplishment a
"Kevin and Naomi were great to work with. Even though buying a house can be frustrating, they kept us motivated and always kept us up to date with current listings. They were also able to place in a home in the exact neighborhood we wanted. If I ever had to purchase a home again, I would definitely use Kevin and Naomi, and would highly recommend them to anyone looking to purchase a home."