Market Conditions in 94804>Question Details

Mogelt, Home Buyer in 94804

How are the property values holding up in the Marina Bay section of Richmond?

Asked by Mogelt, 94804 Thu Nov 29, 2007

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4
Hi Mogelt -

There is a LOT on the market in Marina Bay, everything from higher priced single family homes to small, inexpensive condos. So the answer is "it depends". The higher end units have lost value, but at a smaller percentage than the less expensive one. Just last week, there was an auction to sell off many of these lower priced condos. You should expect that this auction attracted lots of investors, so many of these units will become rentals.

That being said, Marina Bay is a great location. The homes on the water are lovely, and many of the condos have great views. My opnion is that this will always be an attractive area in which to live, but for the short term, it may be difficult to sell homes there because of the glut. If you plan to buy and hold, then you should be able to get something at a great price today, and to sell it at a reasonable profit in a couple of years.

GOOD LUCK!

ida
1 vote Thank Flag Link Thu Aug 21, 2008
I'm seeing some pricing stabilization throughout many areas of the bay. The good thing about this community, is that it is one of the most desirable in Richmond, so prices will stabilize faster here, compared to the Iron Triangle.

I've sold a few REO units at Marina Bay and have recommended it to several buyer clients both as an investment and as a great place to live. If I can be of further assistance then please visit me anytime at sfoluxury.com
Web Reference: http://www.sfoluxury.com
0 votes Thank Flag Link Wed May 11, 2011
For condos, there is even a list of $81,579 for 1bd/1ba. Because of the owner occupancy ratio of only 30%. It is hard to get loan. I do not know if the price will drop a little further or not.
0 votes Thank Flag Link Fri Sep 11, 2009
Depends on when you bought ;-) Right now it appears as if they have plateaued.
0 votes Thank Flag Link Fri Jul 10, 2009
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