Tom Lyons's (tomlyons) Blog

In 2008, prices have come down so much that REO's hitting the market at these low prices receive as many as 10-15 offers on them within days. On one Northern Livermore house, a 35 year old fixer at 1300 sq. ft., priced at $334K .... there were 10 offers within a week. Of course it took the bank o...

It's not well known to the general public right now, but in the SF bay area we may have hit the bottom of the market in many cities. True, most of the action is in REO homes, but the prices have dropped so much on these as we marched through 2008 ...many cities now have only a 2-3 month absorbsio...