Sellers beginning to make concessions as Bay Area home prices drop

For the first time in years, the tables are starting to turn in the Bay Area’s insane housing market — as prices drop, some sellers have been forced to make concessions.

They’re chipping in to help pay closing costs and even to buy points to lower mortgage rates — all to convince increasingly reluctant buyers that the time is right to purchase a home.

“I’m seeing sellers concerned about prices dropping,” said San Jose-based real estate agent Gustavo Gonzalez, who works with both buyers and sellers. While he said recent price drops have not been drastic, sellers are having to reset their expectations of what they can get for their

→ Continue reading at Silicon Valley

More from author

Related posts


Latest posts

Former Twitter employee is convicted in Saudi spy case

Ahmad Abouammo, a dual US-Lebanese citizen who at Twitter helped oversee relationships with journalists and celebrities in the Middle East and North Africa, was...

WWE reports additional expenses tied to Vince McMahon

The two additional payments, totaling to $5 million, were made in 2007 and 2009 and are unrelated to an investigation of his alleged misconduct...

Inflation still sucks, but we'll take whatever relief we can get

This story is part of CNN Business' Nightcap newsletter. To get it in your inbox, sign up for free, here.Where are we? How are...