South Bay Realtor Says Soaring Housing Prices Set to Pause
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South Bay Realtor Says Soaring Housing Prices Set to Pause


HISTORICAL HIGH. BUT REALTORS SAY NOW… MAY BE A GOOD TIME TO TRY AND BUY A HOME — IF YOU CAN: KPIX5’S MARIA MEDINA IS LIVE IN SAN JOSE WITH SOME NEW NUMBERS… MARIA? ((NATS OF OPENING DOOR @ :09)) WELCOME — TO YOUR NEW HOME, IN SAN JOSE: ((ROBERT GOSALVEZ/BAY AREA REALTOR: “946 we’re asking for one point one million”)) A MODEST THREE-BEDROOM, TWO AND HALF BATH — THAT JUST SOLD FOR 1-POINT-3 *MILLION, TWO-HUNDRED THOUSAND OVER THE ASKING PRICE. ((ROBERT: “200 the owner here put new countertops stainless steel appliances 202”)) ((GRAPHIC HERE)) ACCORDING TO CORELOGIC, THE MEDIAN PRICE — FOR HOME SALES — IN THE BAY AREA — FOR APRIL… HIT A RECORD HIGH OF 850- THOUSAND DOLLARS. THAT’S UP, MORE THAN 2 PERCENT FROM MARCH — AND UP MORE THAN 13-PERCENT COMPARED TO LAST APRIL. ((END GRAPHIC)) AND WHAT’S DRIVING UP PRICES? VERY LOW SUPPLY… AND HIGH DEMAND. ((ROBERT: “459 and that data is about a month old 501”)) BUT REALTOR — ROBERT GOSALVES — OF KELLER WILLIAMS REALTY — SAYS… JUST IN THE LAST FOUR WEEKS — THE MARKET — IS EXPERIENCING WHAT HE CALLS A PAUSE… IN HOME PRICE CHANGES: ((ROBERT: “345 45 today there’s a little bit more inventory maybe about twenty percent more than there was a month ago 51 and now we’re starting to see some properties sit on the market a little longer 53”)) AND THAT’S GOOD NEWS — FOR BUYERS, HE SAYS… ((ROBERT: “341 four weeks ago you had eight ten twelve offers on every property 45” ((ROBERT: “53 some properties are still getting multiple offers 57 most of them are getting the three and four range is what we’re seeing 400”)) ((GRAPHIC HERE)) STILL — THE REAL ESTATE MARKET — IS FRUSTRATING FOR MANY… ACCORDING TO A NEW KPIX / SURVEY- U-S-A POLL — A WHOPPING 68- PERCENT OF CALIFORNIANS SAY THE COST OF LIVING IS — QUOTE: UNBEARABLE. WITH 25-PERCENT — THINKING ABOUT LEAVING THE STATE. ((ROBERT: “733 hang in there the market will hopefully cool off a little bit”)) ROBERT SAYS — IF YOU’RE IN THE MARKET FOR A HOME… DON’T GIVE UP… JUST YET. ((ROBERT: “738 this pause is a great time to jump in 40 but persistence is really important 41 just keep persisting keep trying keep looking and you will succeed 46”)) A NEW TWIST IN THE HEATED FIGHT OVER A SEX ED COURSE IN FREMONT.

5 Comments

  • J Smith

    Interest rates going up… The bubble is going to burst soon. Also a ton of people leaving California will cause a market drop!

  • NeDouble S

    20% more homes are because of fools getting loans for homes they can't afford to pay for. Kind of like when someone pays $200,000 over the asking price. SMH. People willingly put themselves into a hole just to look like they have a great life to fake friends in the fake world of social media, only to have reality slap the taste out of their mouth when the bank foreclose and then the rest of the country pays for their stupidity.

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