Wednesday, January 5, 2011

California real estate market – a few facts of interest…

As I meet clients, I like to sometimes touch on a few little known facts of the real estate market in our state – which I have experienced myself first-hand in several cases in our local Cities of Mountain View, Los Altos and Palo Alto.
One of these facts is that buyers continue to face in many instances a competitive market, as evidenced by the following graph, showing that nearly half of properties sold attracted multiple offers:In 2010 the percentage is expected to still be over 50%.

Also, the number of all cash sales typically is around 8 to 10%, year after year. It is now around 20%. (a preference for real estate investment, over other types of investments, which may be perceived as too volatile?)
 However, it is also true that the net cash to sellers has seen big changes:
This information is available from the California Association of Realtors, in a study that I will be glad to send you upon request.
Thank you for reading.

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