As home prices continue to rise, and interest rates are also increasing, there is definitely a softening in the market in the Bay Area. As reported in the San Jose Mercury News, many buyers are simply sitting on the sidelines and waiting. My advice? Now is a great time to buy if you want a deal. The closer we get to the holidays, and with this downturn in the market, there really are some deals to be had. Let me know if you want me to help you find a deal!
Thanks to Michael Vavricek for turning me onto this great interactive article about the currently booming North Las Vegas real estate market – and how it is a warning about the future or the real estate market. This is a fascinating and beautiful read. Check it out here.
Here is an oldie but a goodie. A truly terrifying tale of real estate horror. Enjoy!
Curbed SF is citing the Redfin Migration Trends publication as evidence that more and more Bay Area residents are thinking about moving to other cities. In fact, that number jumped by 10,000 people (18%) in just one year. Interestingly, though, despite this apparent interest in people moving out of the Bay Area, the population here just keeps increasing. Things that make you go, hmmm.
Four of the nine buildings in the Ice House Development at the corner of Filbert St and West Grand were burned to the point of having to be demolished yesterday. This is the fifth fire in the past 2 years of a new development. An arson investigation is underway.
Personally, I hope the authorities catch the creeps who are doing this. Sure, gentrification is an issue but this is NOT the way to combat it. Some of the units in the development were earmarked for low income housing. We have a housing crisis in Oakland. It is evident all over the city. Burning down new developments is cowardly and foolish. See KQED’s coverage here.
Another bit of storied San Francisco history is now up for sale according to Curbed SF. The famous strip club opened in 1969 in a 1924 building. There are LOTS of stories about what happened inside that club, and it is perhaps most noteworthy for inventing the “lap dance.” It will be interesting to see what happens to the space.