Tuesday, September 28, 2010

Places to Buy Home and State of the Market in SF Bay Area

I thought you might like to read this. Just to pass on some real experience of my client in the Bay Area housing market, even in Livermore! It is a mixed bag situation and usually depicts a great momentum changes around the elbow of a growth curve. Time to act decisively in good potential neigborhoods.

"One of my older relatives are looking to relocate to the bay area. They are in the 80s age group. They are looking for a starter home 3 bed/2bath preferably 500,000. They are keen on a single family home with some garden. A good neighborhood with families is critical.


After looking at many south bay neighborhoods, we settled on South Livermore. I had never visited south Livermore before but we found it to have several nice neighborhoods and a cute but small downtown. These areas are closer to the south end where the vineyards are located (off 84) and there were also some good areas closer to the Livermore labs. We increased our budget a little bit and found very nice homes in very desirable neighborhoods. We were really surprised at how fast the homes was selling. One we really liked but was on a busy street sold on the afternoon, which we saw only in the morning. A couple of homes sold before we could even get to see them. These houses were about 1-8 DOM before they were sold. Makes me wonder about the downturn.

Anyway, we found our home and the sellers have accepted with one condition. They want to exclude their redwood deck from the inspection. What would the implications of this? If the risk is a few thousand $, then we can take the risk. However, unsure what larger implication this has."