With very few homes for sale for first time home buyers, it has become heart breaking for many families. Not only for buyers trying to "move up", but especially for first time buyers.
Just a month ago, I had a one bedroom Condo for sale on the peninsula, facing the El Camino, and received several offers. When I called the agent who brought in the best offer, she screamed with joy! Really! She then told me that her clients had written 14 offers in the past few months, only to be rejected.
In Foster City, this year, a home in "fragile condition" sold with 10 offers. Another in original condition sold with a preemptive offer.
I do believe that as more inventory is made available the housing chaos will settle.
Additionally, with rentals pricing on the rise, it's difficult for some home sellers to put their homes on the market, because they have nowhere to go.
