Believe it or not, we may be looking at the launching pad for a Spring 2013 that makes Spring 2012 look almost tame.
2012 is a tough act to follow, but I think 2013 will be the year to do it—minus 2012’s shock and awe.
The best way I can describe the amazingly off-the-wall 2012 real estate market is to tell you that this year it took me as many as five offers to get a buyer in contract…and that that particular buyer was smart, well qualified, very motivated and had a large down payment…and that my previous high was four offers…
$350,000 will get you lots of house in most parts of the country, and even in most parts of California, but here?
In this latest installment of the “snapshot” series, we’ll take our first look at the local condo market. In previous installments I’ve used the word “recovery” in the headline, but if I used it this week I might be stretching things. Although the overall price trend for condos in this area is up, and sometimes way up (see Palo Alto), there are still pockets where the best I can say is that prices have stabilized.
In the world’s on-going attempt to prove my theory that the average person’s vision of tomorrow is that it’ll be exactly like today, only more so, the re-appearance of multiple offers has been greeted by buyers not just with consternation but with shock and awe.
Those who cannot remember the past are doomed to repeat it.