Ok ladies and gents, this is crazy. Check out this list of multiple offers from this week:
Julia St., Berkeley, Duplex, REO last I heard there were 17 offers
Halkin Lane, Berkeley, regular sale: 3 offers after price reduction
Cochrane, Oakland, regular sale, 5 offers
Davis St, Oakland, short sale, 3 offers
Angels Bay Ct., Richmond, regular sale, had accepted offer in 24 hours
Liberty St., El Cerrito, regular sale, 4 offers after 162 days on market and a price reduction
…and this is just in one week.
Fear is infectious. And that is what the media is portraying. Fear, fear, fear. This is the cheapest market we have seen in two decades ( S A L E ! ) and in the East Bay, there are some people out there who aren’t afraid (see above sales), who understand that now is the time to take advantage of the low low interest rates ( again, S A L E ! ), and who realize that we are living on a pot of gold.
The market is shaking and moving over here and the tipping point is uh-comin’.