East Bay CA Markets Nearing Ceiling?

3 Replies

I've noticed that a bunch of obviously investor owned properties have been dumped on the market in my local area.  Concord, Pleasant Hill, Martinez, Pittsburgh, Antioch.  Volume shot up from near non-existent.  Also noticed several multi-families appear on the market.

Anybody, know what is going on?

Nearby in Hayward I'm seeing fixer upper SFHs sitting, while nice, but not updated properties are still commanding prices above comps. Looking at multis, but most are unrealistically priced. Have not noticed a significant influx though. Id say ppl in your neck of the woods are listing in anticipation of an interest rate increase.

The thing that annoys me about Hayward multifamily is that people price it per market rents when their actuals are way behind.  Apparently, there is no shortage of buyers who don't know that you can only catch up at 5% a year per the Hayward Rent Stabilization Ordinance.