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Sure, I follow. At the same time, we've still got tons of all-cash buyers in the Bay Area. Those $6.5m+ POS properties are still selling like hot cakes (surpr
by metadat 4y ago
Sure, I follow. At the same time, we've still got tons of all-cash buyers in the Bay Area. Those $6.5m+ POS properties are still selling like hot cakes (surprisingly).
Outside of SV, I expect you'll see such a drop.
- datalopers 4y agoI agree it may be a bit more muted in the Bay area, though in dotcom we saw a 10% retraction and great-recession saw a 30% retraction.
- Hermitian909 4y agoI'm curious how many are paying cash and how many are using delayed financing to make cash offers? The latter is usually just a mortgage + a fee to get the advantage of a cash offer. I know these shot up in popularity during covid but I don't know where you'd find stats on the split. Point being, if most of those cash offers are really a 30-year mortgage in a trench coat, the peninsula might slump very quickly in the near future.
- metadat 4y agoReal estate isn't my full-time job at the moment, so I'm the wrong person to ask! All I can say is there's still a ton of cash sloshing around Silicon Valley. It could be awhile before is dried out, if ever. The VCs still have a ton of dry powder and they aren't moving out of Sandhill.