The real estate market in Bay Pointe Ca. | The East Bay Homes and ...

The real estate market in Bay Pointe Ca. is entering a Turbulent period. Confusion is Normal when the Bay Pointe real estate begins to change direction, especially when the market is reaching a bottom. In this Bay Pointe Real Estate market, because of the size of the bubble, expect the confusion to last Awhile. There are many signs of the Bay Pointe Real Estate market reaching bottom. We?re going to look at the three of the most important ones. The first sign of the Bay Pointe Real Estate reaching bottom is the re-appearance of cash-buying investors. We?re there. They are bidding up the prices of the best of the Bay Pointe entry-level homes. Not only that, investment companies some out of country, formed for the express purpose of buying real estate, are buying Bay Pointe properties in bulk direct from the banks. The second sign of a bottom is low inventory. Active listings of single-family, Bay Pointe re-sale homes are the lowest they?ve been since January 2006. The number of active listings is only 39% of the peak reached in September 2006. The third sign we look at is Bay Pointe foreclosures. Are they dropping? Initial notices of default have dropped on the Bay Pointe home owners Notices of sale have dropped also. Properties going back to the bank have dropped as well. Finally, the total number of properties owned by banks has dropped. I expect you?ve been reading about ?phantom inventory? and the massive number of bank-owned properties expected to hit the market soon. Many of those foreclosures will never hit the market because, as was mentioned above, investment companies are buying bank-owned properties in bulk. If they decide to flip them, then inventory will increase, but there are reports that many of these properties will become rentals. In the meantime, there are many entry-level buyers competing against all-cash investors for a shrinking inventory of good homes. For a list of the homes still active just click here http://bestBay Pointe agent.com/lss
Tony Shropshire
925-777-9400
Lic. Dre 01204520
NMLS 239042

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