How 'Bout a Little Real Estate Update

The past few months in real estate sales around the Bay Area have been very competetive.

Just last week I wrote an offer for a low-end Palo Alto condo and got beat out. There were 15 offers and my buyers offered more than the list price.

Similar reports come from agents, home owners and house hunters near and far. A friend who was selling her home in Hercules accepted an offer on her home that is allowing her to rent back for an unlimited amount of time so she can compete for a home on the Peninsula. 

Prices are still at all-time lows. But when people compete to buy homes, it raises the values. That is what we are seeing, little by little around here. 

I have talked to a few homeowners this week who are interested in selling but want to wait and see if the values go up more. 

We'll see what happens!

Karin Cunningham, "Your San Bruno Neighborhood Specialist," is a Realtor with Prudential California Realty. She can be reached at 650-438-3504 or karinc@prucal.com. Visit her on the Web at www.KarinCunningham.com or check out her blog, San Bruno Life, on Facebook.