Bay Area Real Estate Market is Hot Even in Hardest-Hit Areas

Areas where the housing crash hit hardest are starting to boom again with buyers eager to purchase a home. This is true in the Bay Area, from Oakley to East San Jose. All of the cities in this area are similar in that they have a small amount of inventory and lots of potential buyers. Median sales prices have risen anywhere from 27 to 51 percent. Because the overall inventory for sale is low (as in a lot of places around the country), sellers are receiving multiple offers for their home and often receiving more than the asking price. Sometimes they are getting all cash offers which helps sweeten the pot. Although we can’t predict the future, the current housing market is prime for sellers. Read the full article here: http://www.mercurynews.com/business/ci_23302664/bay-area-real-estate-market-is-hot-even