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Politics : High Tolerance Plasticity -- Ignore unavailable to you. Want to Upgrade?

To: energyplay who wrote (13345)	4/18/2002 2:20:30 AM
From: Warpfactor	Respond to of 23153

Energyplay, Housing is in very short supply in the East Bay. Anything under $450K is snapped up very quickly often with multiple bids. Not quite to the extent of Y2K but much stronger than last year. Looked in the local Alameda paper last week, all the 2 and 3 BR homes have "pending". All of them except a couple of condo's. I'd think Silicon Valley where you are is experiencing a similar scenario - it's not that far away. One caveat: Houses over $600K are sitting longer. In the Sunday paper, comps are listed compared to last year. Places like Menlo Park, Atherton, Marin County where the average home sales price in 2000/2001 was well over $1,000,000, these high end areas have come down quite drastically, like 40-50% YOY. Specific to the under $500,000 market, the Bay Area is probably largely immune to a housing downturn that may grip many other parts of the nation, for reasons we've expounded upon before. BTW, I am not sure that the rally is not for real. Nonetheless I've been very careful. Already sold most of the tech stuff I picked up Friday. Which wasn't much to begin with. Warp