Did Housing Price Went Up 33% or Less? Seller Market! Multiple Offers! Price Bidding Wars!

Data from professional sources such as DataQuick shows 33%

over year increase on median price.

http://blog.sfgate.com/stew/2013/01/16/bay-area-home-prices-surge-fastest-pace-in-decades/

This doesn't mean that the price of a particular house has gone up 33%  over the year,

so don't panic.  The median price is sometimes misleading because it shows the mid 

point of all selling price.  If the mix of people buying more expensive house goes up 

compared to lower priced house, median price goes up even if the price for individual 

house has not moved a single bit.  Also note that the monthly median price figure is

quote volatile (kind of like daily stock price) and can jump up or down significantly

from month to month.

With that said, this median price increase is a combination of the two.  My clients 

are definitely seeing solid competitions in making offers to buy properties.  The low end 

still has the most competitions with lots of investors with tons of cash in the mix.

However, I am seeing more action in the mid-range where many buyers are looking at also.

Whether this price increase will continue in the near term or move up a bit more or slow

down a bit is anybody's guess.  However, I think it is safe to say that the "great real 

estate sale of 2008-2012" is over.  If you still want to own your own place (it is as much

a lifestyle choice as it is a financial decision), time to get moving.

My Real Estate Team is very experienced in negotiation and seasonal advise, which includes among other things, an experienced real estate attorney.  Every transaction that I managed is also reviewed by multiple experienced people to ensure that things are done properly. Over the years, I have helped clients overcoming all sorts of thorny issues, before- during -and -after the real estate transactions,and in many cases, saved them tens of thousands of dollars.  Buying a house is a very important and complicated decision,   Make sure you have the right representation.

Call me when you are ready.  Have you gotten a loan pre-approval yet?  

www.RealtorLisaWu.com