Not everything is doom and gloom these days as witnessed by the Bay Area’s strong housing market.
Highlights for the San Francisco East Bay real estate market:
– the market is strong
– transactions are progressing steadily (see below)
– offices can open on a limited basis per very strict OSHA laws
– we are only 19% off listing inventory from last year
– staging of properties in Berkeley is still prohibited
The following are numbers for the week of May 4-10, 2020
Berkeley – 92 total transactions
Oakland – 614 total transactions (up from last week’s total of 582)
Piedmont – 17 total transactions
On the mortgage side, rates are super low which is great; however, guidelines are VERY tight meaning the borrower has to be more qualified and often with higher reserves. Mobile notaries are in high demand, are very busy and as a result of this and the higher risk they are assuming with the current coronavirus situation are charging more for their services.
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Until then, be well and be safe. I’ll talk to you tomorrow.
May you walk in beauty.