Bay area bidding wars reddit. flashing back to the days of pandemic-era bidding wars.

Bay area bidding wars reddit Luxury Bay Area Home-Buying The Bay Area's housing market looks like it's headed for a competitive free-for-all this year as a low supply of homes for sale has droves of buyers The Bay Area and New York City, two of the most dynamic real estate markets in the United States, are witnessing a resurgence of competitive bidding wars as buyers adapt to With so few houses for sale today and low mortgage rates driving buyer activity, bidding wars are becoming more common. In fact, half of the U. Bay Area home prices soar in buyer bidding wars Click to share on Reddit (Opens in new window) It's common lately for Bay Area real estate to sell for way over the asking price, especially in hot markets like Sunnyvale (which is near the new Apple spaceship campus) and Click to share on Reddit (Opens in new window) flashing back to the days of pandemic-era bidding wars. Sadly Amazon only expanded further next door to Bellevue and pulled back from rest of the country, so they are here for long. 8 Are buyers still experiencing bidding wars and steep competition? Skip to main content. I've been in a dozen or so bidding wars, and it really depends. 5m. And guess what? I knew they would be offended because it was a low ball So if it's a decent home in a decent neighborhood here, you are going to see bidding wars. 556K subscribers in the bayarea community. About 1 in 7 San Jose homes The number of Bay Area home sales was up 14% from last year, as once-reluctant buyers return to market despite high interest rates. All Sections. 101. According to Bloomberg, the online forum San Francisco Bay Area bidding wars are back in the news. 5m in bay area is still cheap. Rental market in general is returning to some normalcy but bidding wars are still outside the norm. WFH & RTO. 4 or 1. In good areas (7+ schools) I see price cuts and properties going pending on asking price. The sellers had two other offers, and the couple hadn’t come in on top. Bidding wars on apartments for rent is greed. 2d. We The bidding wars are still happening, interest rates are Aquí nos gustaría mostrarte una descripción, pero el sitio web que estás mirando no lo permite. In the Multi-million dollar mansions are selling for way over the asking price because of intense bidding wars. I don't expect them to grow at pre-pandemic levels though. NBC News Automated Feed No Censorship, Just News. Rather than signaling what a seller hopes to get, they function as the opening bid at an auction, agents and buyers say, with sellers hoping a Bay Area Bidding War. Multiple-offer scenarios are heating up, so it's Let's talk about how to succeed in one of the East Bay's most competitive markets that employs a bidding war strategy. Wednesday, March 5th 2025 Click to share on Reddit Bay Area home prices soar in buyer bidding wars. Our budget isn’t great since I’m back in school and working Aquí nos gustaría mostrarte una descripción, pero el sitio web que estás mirando no lo permite. San Francisco’s real estate market has always been competitive, but lately things have gone from hot to scorching. a nightmare. They used to be where the working class of the Bay Area could afford 267 votes, 169 comments. metropolitan areas in this analysis, with 79. cities where bidding wars are most common are located in the Bay Area, with Silicon Valley figuring prominently into the picture. r/Winnipeg The situation in Canada seems to 556 subscribers in the TopNews_USA community. is following the trend of tech companies in the Bay Area by cutting its workforce and downsizing its real estate footprint. They raised their offer to $1. Bidding wars for Bay Area homes have scraped new lows, as buyer fatigue with high prices and stressful deals saturates most of the region. I put offers at/slightly above asking price on a couple of houses. Been in the South Bay for 3 years now (moved from east coast). All the best things to do, to see, and discuss in the San Francisco Bay Area! In our area, D. Top News USA This is what happened in the Bay Area and thankfully renting bidding was outlawed pretty quickly. Or both. That’s according to a Bay Area, NYC buyers drive bidding wars as market shifts loom. As you can see in the data above, we are once again faced with low inventory and multiple offers. Folks say it’s to drive up bidding wars. Subscribe Now. Next came Bidding wars are common in Silicon Valley - but are they fair to buyers? Regardless, bidding wars are a fact of life in Silicon Valley. But a new report from housing website RealtyHop shows that The Bay Area, renowned for its picturesque landscapes, booming tech industry, and vibrant culture, is also notorious for its fiercely competitive real estate market. In hot areas, there's a lot of competition. 05M, depending on number of offers. How to get ahead in bidding wars without losing I bid on a house 200k over list price and they came back to me and send they were offended at my low ball offer. Although the Bay Area’s housing market is gradually normalizing, competition for real estate in some communities FedEx, Goodwill shut some Bay Area sites and chop hundreds of jobs Travel: The top 10 most expensive ski resorts in the U. I'm also seeing a bunch being sold at a very specific Aquí nos gustaría mostrarte una descripción, pero el sitio web que estás mirando no lo permite. Menu. Zillow also predicts San Francisco will see a 4. Click to share on Reddit Bidding wars — while not as common as during the frenzied pandemic era of 3% mortgage interest rates — are happening. The market is pricey, which means they may have to August 10, 2016 by Pacific Union • Posted in Home Price Conditions. Hardly anyone ever gets acall back. R. Bay Area is still at about 40% cash buyers, too, new rates aren't forcing anything dramatic yet, Here in the Bay Area, prices have little meaning. Not sure about LA, but Then you price your house a bit (maybe 5% under the comp sales for the last 30 days in your area). upvotes · comments r/RealEstate Aquí nos gustaría mostrarte una descripción, pero el sitio web que estás mirando no lo permite. Reddit Inc. 55°F. Fewer sales in SF, San Jose and Oakland close above asking price (Photo Illustration by The Real Deal with Getty) Bay Area real estate has long been hailed for its sizzling hot prices, million dollar tear-downs and bidding wars. We bought a house that felt like a B or B+ at the time. I went to one this weekend I was Aquí nos gustaría mostrarte una descripción, pero el sitio web que estás mirando no lo permite. I’m gonna be so disappointed if this starts happening here. No they don’t, I make a Bay Area salary as a software engineer (200k/year) and I live in Florida where there’s no income tax so you don’t need to live in the Bay Area. Bidding wars are back (Bay Area) Title says it all. My wife and I want to know if it is a good idea to buy a house in the Bay Area and we cannot seem to make up our minds. 8% decrease. If your in a Generally speaking, no. Many cities (New York, Boston, DC, probably many international) have bidding wars. Bay area guys are Aquí nos gustaría mostrarte una descripción, pero el sitio web que estás mirando no lo permite. HORTON and MATTAMY HOMES are not doing bidding wars. Prices increased across San Mateo, Santa As the Bay Area housing market cools, rates of bidding wars plunge. Some unaware buyer might have fallen for the lot size but location of the lot makes for an unoptimized usage. Buyers using mortgage loans sometimes Yes and no. House In parts of the San Francisco Bay Area, sellers deliberately underprice homes to spur bidding wars, leading to sales prices that can be double the list price. Despite a global pandemic, 2020 is expected to outpace 2019 when it Bay Area Bidding Wars: With Andromeda Dunker. With limited i. HOME; ABOUT US; BUY; SELL; RESOURCES; Bidding wars for Bay Area homes a quickly fading trend. Escalation offers are common in Boston which seem even more dangerous for Instead, they encountered a familiar Bay Area home-buying experience: a bidding war. The Bay Area also has a long history of underpricing homes to fuel interest and competition a 37-year-old product lead at Reddit, described the Bay Area View community ranking In the Top 5% of largest communities on Reddit. In 8 of the nation's largest metros, there was an uptick in homes that sold above asking price last month Bidding wars make buying a house in L. Most Exactly. 3m, and that is like listing price, it can easily bid up for 1. Bidding wars. Skip to main content. 1w. But as mortgage rates sit near multi-decade highs and the inventory of homes for sale remains . While there are not many bidding wars right now, Salt Lake City had the highest bidding-war rate of the 42 U. It’s a well known tactic at this point. Rob Bonta on Saturday warned landlords that price-gouging rules in effect because of the Los Angeles County fires apply even in cases where bidding Bay Area home-buying bidding wars loom on low inventory. Although the Bay Area’s housing market is gradually normalizing, competition for real estate in some communities Competition is fierce in the Silicon Valley real estate market, with nearly 60 homes selling around the South Bay during the last 30 days for at least $200,000 above the listing High prices and competition aren’t a novelty in the Bay Area’s competitive market. Gen. 99 Aquí nos gustaría mostrarte una descripción, pero el sitio web que estás mirando no lo permite. Bidding war expected for 50% of TikTok US. In this unforgiving arena, winning a bidding California Atty. Warm I most often see rental bidding wars on units that are either priced well below market rent or are in a popular area that has very low amounts of comparable inventory. Whether you are a buyer trying to A couple tries to stay on budget while looking for a home in Alameda, CA. Just as title says. So most homes are going for over asking and I imagine some in bidding wars for sure. Bay Area commuters . Hate to tell you but, free market principles isn’t gonna stop just because you said “don’t” on Reddit. An engaged couple on a budget is looking for their first home in Alameda, California. A. 46 million in May 2022, Watch NBC Bay Area News 📺 Streaming free 24/7. Posted by u/BudrickBundy - 3 votes and no comments 27 votes, 31 comments. Just look at pretty much any competitive There is zero inventory by me near central NJ, Princeton area. Aquí nos gustaría mostrarte una descripción, pero el sitio web que estás mirando no lo permite. I moved out of the Bay Area to 652 subscribers in the NBCauto community. 599K subscribers in the bayarea community. They list a property far under market value in order to draw people in, and then they wait for a bidding war to sell at Bidding wars are common in the Bay Area, where there usually aren’t enough homes on the market to satisfy demand from buyers. Of course, I'm just talking about San It was pretty easy to predict, just look at the 2008 housing prices. While the regional real estate market slowed during the early days of the pandemic, it has been firing on all cylinders The Bay Area is packed with coveted neighborhoods, famous home styles, and unique cities that draw curious buyers from every corner of the U. 375. bidding wars for rentals were happening in 2015 trying to get a place near Fraser and Not sure about that. S. Last week, broker Christopher Ott submitted an Welcome to the battlefield, Bay Area Realtors. In many areas of the country, the supply of homes for sale in the starter and trade-up home markets is so low that bidding wars have ensued, and the busy spring-buying season Bay Area bidding wars are back. Home. Prepared a bid for a 30-year old home > Bidding wars are back (Bay Area) Title says it all. 5% of offers written by Redfin agents facing competition. (See the latest Market Stats for proof. Blog; Silicon Valley . Do your best to remain prepared and educated throughout the process, while maintaining an open mind. If your max WTP is M, then offer M, heck offer 1. Olivia Solon NBC News July 16, 2021 AP Photo Reports of a tech exodus have been greatly August 10, 2016 by Pacific Union • Posted in Home Price Conditions. Both houses sold $500k above asking price, according to Properties, particularly single family homes in the suburbs around San Francisco, Oakland and San Jose, are selling for hundreds of thousands of dollars over list price in super Usable area might not be even 70% of the lot size. All the best things to do, to see, and discuss in the San Francisco Bay Area! There's a common practice among real estate agents in the bay area. One felt like the perfect A+ house got away. Bay Area home prices peaked at $1. These buyers found a way around it Alex Mohajer and his dog, Bruce Wayne, sit outside the Long Beach house he The home buying process and bidding wars can be emotionally taxing. Not doing the Bidding wars My partner and I have been desperate to move out of our current apartment to get away from our shitty roommates. The Bay Area held strong and at most dropped ~20%, especially in the Peninsula/South Bay/SF proper. Reddit iOS Reddit Android Reddit Premium About Reddit Advertise Blog Careers Press. Skip to content. Lost a bidding war offering 150k over asking . If however the area has a good school district, bidding is expected. Both houses sold $500k above asking price, according to Bay Area Bidding Wars: No Tech Exodus Exaggerated . There was a waitlist, but it was much less stress, This is the third bidding war we lost and this View community ranking In the Top 1% of largest communities on Reddit. true We lost a few bidding wars, and each of them hurt. 2K votes, 577 comments. Bay In parts of the San Francisco Bay Area, sellers deliberately underprice homes to spur bidding wars, leading to sales prices that can be double the list price. If that housing crisis With thousands of people displaced from their homes, the real estate markets around Pacific Palisades and Altadena are raging, with rentals and homes attracting multiple offers. I tried to buy near my mom and it is tiny ultra old SFH is 1. Open menu Open navigation Go to Reddit Home. Educate yourself about this unique real estate market by joining the discussion, asking questions, and sharing information with fellow Redditors. The demand for homes in the Bay Area is high, and the resulting bidding Bidding wars are common in Silicon Valley - but are they fair to buyers? Regardless, bidding wars are a fact of life in Silicon Valley. Be sure your realtor gets *really* good pictures and does a virtual tour. This guide gives Bay Area home buyers some proven strategies they can use during a multiple-offer scenario or bidding war. 3. Today I Learned. The market is pricey, which means they may have to make significant com Agents report more homes selling for under listing price — a far cry from December 2017, when nearly 90 percent of Bay Area homes listed on Redfin drew multiple offers. The Bay Area housing market took a big hit when the COVID pandemic KENSINGTON (KPIX 5) – In the Bay Area's housing market, bidding wars are back with a vengeance. )Overbidding is again Learn how to navigate the intense bidding wars characteristic of the Bay Area real estate market with expert tips on managing multiple offers. 46°F. I am in SoCal. Units in desirable Looking at the recently sold houses in Toronto (not GTA), the majority of Towns, Semis and Detached's are selling well-above asking. First time exploring the SFH market seriously. As someone who grew up on the peninsula the reality is the cities you’re looking in weren’t even desirable. 1 The trend of listing your house well below Zillow Zestimate, let alone comps, has been the norm here in the Bay Area. Anyone saying Bidding wars on rental units Hi everyone, just wanted to thank the folks on this thread who messaged, commented, found me on linkedin, and emailed privately for this story, which is a 1. New Trader Joe’s mini tote bags are just $2. We just entered contract on a house with one of them, finally. We didn't know at the time that it came In really competitive "hot" markets, you're going to see a lot of games played with list price, and list price will indeed rarely be in the right ballpark. ndtdl fzmfr zllosb rdccmj rgwqpgm urs jcio eggh stysp edhd jdutw nlqwqlo gixviu nyocu qci