Home Buying in Fremont>Question Details

Jennifer Wong, Real Estate Pro in Fremont, CA

How's the current market in Fremont, are there a lot of buyers, do we still over bid? Any changes in bidding situation?

Asked by Jennifer Wong, Fremont, CA Tue Jun 11, 2013

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7
Hi Jennifer,

I put together a short market update in addition to the advice below.
Hope you find it useful. There are still multiple offers, but maybe it is not as many as before.

June 2012 to June 2013 Listings are down approx. 25%

Median home selling prices;
2001...........450K
2006...........700K
2009...........540K
2012...........580K
2013...........720K

Possibly due to supply and demand, prices in some areas are higher than the peak of 2006. Most of that increase came in 2013.

Sit down with a Broker and discuss your needs and the market conditions in your price range.

Brian
0 votes Thank Flag Link Sat Jul 27, 2013
Fremont is still lucractive and many home sellers still have an unique advantage in a market filled with demand; however, in a price sensitive market, the list price of the home has been commensurated to the expectations of the buyers which have been very tricky. We are still seeing many mutiple offer situations.
0 votes Thank Flag Link Thu Jun 27, 2013
Fremont continues to be hot and I am not talking about the temperature! Fremont is a desirable area because of excellent schools, a wide variety of housing stock, a location that is good for commuting to the job centers on freeways and public transit, a very diverse ethnic component and other factors.

Multiple offers continue to be the order of the day.
0 votes Thank Flag Link Sun Jun 16, 2013
I agree with the other agents comment below and I can tell you that I personally held an Open House for my listing here in Fremont today and it was unbelievable that so many buyers came thru. There are a lot of buyers still looking for homes in Fremont and certainly the bidding wars will continue during the summer time. I don't feel that it's slowing down with so much competition still. It will be very interesting to see how many offers I end up getting on my listing. Please feel free to email me if you would me to keep you posted and Good luck with your home search, feel free to call/email me if you would like my Real Estate services.

Cheers,

"Rimmy" Gurinder Sandhu
510-676-6224
Rimmy.Sandhu@bhghome.com
0 votes Thank Flag Link Sat Jun 15, 2013
In my opinion, it's still a heavy seller's market here in Fremont. There are still a lot of buyers and most of my listings are still obtaining multiple offers above asking price. However, I do feel that the market is starting to slow down. When I say "slow down" though, I mean that instead of 20 offers on a property there's only 8. There were a lot of factors that added into the wild buying craze these past few months; such as the low interest rates, low inventory, and rising stock market, etc. I've had many buyers just decide to take a step back and wait for it to cool down before they step back into the market once again.

You're correct, the market vastly affects how you make a bid and the terms you can set. If you still want to purchase a home right now, you still have to be very aggressive in your offers. Work with an knowledgeable Realtor to walk you through the best ways of doing so. Also, location matters great. Parts of Fremont have been on a scalding erupting volcano of appreciation, while some others have just been hot. I know purchasing a home in Fremont right now can be very difficult, but I wish you the best of luck.

P.S. check out my latest blog article that describes some other factors that are going to be affecting the market very soon.

Regards,
Andrew Hong
Excel Realty
http://www.Fremontexcelrealty.com
0 votes Thank Flag Link Tue Jun 11, 2013
Buyer maket is still hot but now more inventory in the maket.so not too much over bidding.buyer still paying higher than asking price.
Web Reference: http://www.joesellshome.com
0 votes Thank Flag Link Tue Jun 11, 2013
Hi Jennifer,

The market is still very good in Fremont, and the Bay Area.
Depending on the price, condition, and location there are overbidding. But maybe not on all properties. You need to work with your Realtor very closely in today's market and work together and you'll find a great home.

good luck,
Brian
0 votes Thank Flag Link Tue Jun 11, 2013
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