04 January 2011
Year End Report
As you might expect, the news continued its negative slant in the real estate arena and the numbers reflect that. Bodega Bay and the entire Coast saw reductions in price over the past twelve months, much of this due to the lack of activity in the upper end. Lower priced homes continue to bring out buyers, causing downward pressure on higher priced homes. This is expected to continue through much of 2011 but still provides plenty of great opportunities throughout the market - even at the high end.
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1 comment:
Thanks for this report Steve, much appreciated as always.
Right now there appears to be quite a gap between the lower priced homes that are selling, and the higher priced ones that aren't.
Do you think the higher priced homes will come down due to the pressure you mentioned? If sellers stubbornly refuse to reduce, how long do you think they'll have to wait to get their asking prices?
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