Facebook IPO Stirs Up San Francisco Bay Real Estate Market

Facebook IPO Stirs Up San Francisco Bay Real Estate Market

Posted on 24. May, 2012 by in News

Facebook’s IPO generated what some are calling the “The Facebook effect” on San Francisco’s real estate market. According to mortgage banker and real estate blogger Julian Hebron, people are trying to buy property in the area as fast as possible in order to not be priced out when the tech boom raises prices.

In his blog, “The Basis Point,” Hebron refers to a recent case where a 3-bedroom, 1-bathroom home received 51 offers and sold for $1.4 million. “That’s the most offers I’ve seen in 10 years. And a different property that week got 23 offers.” Hebron wrote. “When droves of newly wealthy individuals suddenly rush to low-inventory market at the same time, it can drastically impact the market,“ continued Hebron.

Read More: http://www.marketwatch.com/story/facebook-effect-on-bay-area-real-estate-2012-05-18?pagenumber=1

Related Posts
What Property Managers Need to Know Now About the Real Estate Market
Rentals are the Newest Hope in the Real Estate Market
Top Reasons To Be Optimistic About Real Estate Market In 2012
Rental Housing and Real Estate Market Trends for 2010
Real Estate Brokers Turn to Managing Properties

Tags: , ,