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is still buyer market in CA bay area?

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roroku

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May 27 - US
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White Picture

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Overall sold in the West 1.17 millions, up 3.5% compare with March, 2009 median price at $222,600, Year over year -21.8%
http://money.cnn.com/2009/05/27/real_estate/existing_home_sales/index.htm?postversion=2009052711
San fernando valley, the part of Los Angeles, CA. the house of 1.5 millions peoples.
The median price of a previously owned single-family house increased 4 percent to $360,000, up from $347,000 in March.
"I'm expecting foreclosures to continue to drop," Roberts said. "I keep hearing about Tsunami II, but I don't see any evidence of this showing up.", ( Roberts is one of most negative view peoples)
According to the CSUN report, which covers Glendale through Calabasas, sales of new and previously owned houses and condominiums jumped 39 percent, to 1,338 properties from 960 a year earlier.
Sales also increased 6 percent from 1,261 in March, the eighth consecutive month of significant year-over-year
http://www.dailynews.com/business/ci_12452923
I don't think The Bay area market is different from Los angeles, California. many of the doomers agreed with that too !
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1 Yes

May 27
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daveyjones2007

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Marin is still a buyer's market although the $1m+ market has come back from the dead.  SF is a supposedly a buyer's market but I keep seeing good locations selling at high prices.
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June 02
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akoi

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On the peninsula in the San Francisco Bay Area it is a buyer's market.
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June 01
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You will know only when you plunge into the market, if not you look like the blind fortune-teller.
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June 01
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rjon.101

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anyone view the bay area market as a sellers  market, especially since interest rates are now on the way up
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June 01
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rjon.101

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Here is a headline every one will love

San Francisco Area Home Sales Surge on Foreclosures (Update1
link is
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=arIDEg9x_xbA

OOOOOPPSSSS   check the dateLast Updated: October 21, 2008
 we all know what has happened to prices  since this last headline

Point is increasing volume does not garrentee increasing prices. and to compare 2009 volume to 2008 or 2007 is a lttle crazy (for me) what is relevant to looking for price increasing in what wa the volum in 2004-2005-2006   when present volume matche s 2005 level I will be watching for price increases.

NOW for some more relevant up to data news
title  Mortgage Delinquencies, Foreclosures, Rates Increase (Update2)
May 28, 2009
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=a2zH6o6F7Wuc


U.S. Foreclosure Filings Hit Record for Second Month (Update1  Last Updated: May 13, 2009
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=axqD7veWb2wM

make of this information what you will. But it is a sign of foreclosures not going away.
remember www.responsiblelending.org  all the projected forclosures for 2009 in Ca ( link on previous posting) about 450,000 next 4 years 1.5 million that is Ca only.


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0 Yes

May 29
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rjon.101

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her is you answer with actual fact reported by a large news organization wihtout an agenda to get you to buy anything.I read its facts and conclude that the bay area is still a buyers  market and I read it will be for a long time.

http://www.bloomberg.com/apps/news?pid=newsarchive&sid=atBfoEWN00Ww

title is San Francisco Home Prices Fall 41% on Foreclosures (Update2
last updated may 21, 2009 

there are several good article on how bad real estate is in th ebay area on bloomberg,  but if you like feel good statements like buy now cause it feels good and other nice sales lines you may not want to read about statistics and actual occurances.
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1 Yes

May 27
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roroku

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so. The answer is not???? most reasonable house sold out above asking price???
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0 Yes

May 27
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Spleng

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It might be a buyers market in certain awful neighborhoods, for example Richmonds:

Iron Triangle

But that doesn't mean you should buy there.

Like space_acer says, most of the bay area is still far far away.

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May 27
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space_acer

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LOL! you havent seen anything yet...
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May 27
 

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