The Oakland Real Estate Market is HOT
Posted by Hamid Grinage on Wednesday, May 30th, 2012 at 2:41pm.I'm happy to say, that there is definitely a significant increase in activity compared to this time last year. Multiple offers are becoming more and more common, I've had several clients in the past few months get outbid on properties. One recent client purchased a home in Castro Valley and paid over 25k over the asking price.
The inventory of homes for sale has went down, which means that naturally demand is increasing. In addition to near historic low interest rates, this has led to our Market in Oakland and the surrounding East Bay to really heat up. I'm hopeful that this also means that we are closer to the days when foreclosures and short sales are just a small fraction of the market...as they should be. Condo developers are putting units on the market that they have previously had as rentals, another indicator that the market is improving.
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The Oakland Real Estate Market is HOT
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