Friday, May 22, 2015

Broker's Corner 5/19/15: Bay Area Sticker Shock

Bay Area Sticker Shock! 
Ray Shay
Broker/Owner
Shay Realtors 

Shay Realtors regularly has clients moving in and out of San Diego. Recently, Google and other bay area technology companies have been poaching engineers from Qualcomm and other local technology companies.  That's when we get the phone call to help them sell their homes at a great price. 
Our clients moving north to the Bay Area have experienced sever sticker shock. It's not uncommon for homes to sell several hundred thousand dollars over asking price with no repairs to be made by the seller and no appraisal contingency. 
It is so interesting to hear the stories.  Two of our recent buyers are moving from
Bay Area Housing Prices 
Silicon Valley to San Diego.  To say the least they are living large.  Real estate looks pretty attractive coming from an area where you can easily pay 1.5 million for a three bedroom two bath fixer with about 2400  square feet of living space. 
I believe in years to come people who are shocked at our current sale prices will be pushed back farther in the heels when San Diego runs out of land to build new homes.   The limited supply will ultimately result in increased values.

If you are interested in knowing that value of your home or how much it will sell or rent for just give me a call.  There is no obligation and it is good to hear what is currently occurring in the housing market.
Have a great day,  
Ray Shay
858 449-4970

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