Especially in the Bay Area. But you already knew that. Redfin found that since 2001, the average amount of time homeowners stayed in their current residence more than doubled from 4 to 10 years, creating less opportunity for first-time home buyers. Low rates and improving economic conditions boosted demand in 2015, but also caused homeowners to refinance under historically favorable terms and to invest in improvements rather than move.
Here are some Bay Area highlights of Redfin's findings:
Stephen Curry, the superstare behind the record-breaking Warriors team, recently bought a modest $3.2 million home in Walnut Creek. The house came on the market in April for $3.988 million and was more recently priced at $3.65 million. It previously sold for $2.5 million last year.
With 5 bedrooms, 5 bathrooms, and 8,000 square feet sitting on an acre of land, this two-story Mediterranean estate includes a 2,300 bottle wine cellar for lots of wine guzzling and 4 fireplaces for some more s'more making. Just in time for the holidays. |
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