The Fed's decision to cut interest rates is sure to have an impact on the Bay Area real estate market, with the move encouraging both potential home sellers and buyers to get into the action.Claudia Viek has been living in San Francisco's Bernal Heights neighborhood for about 50 years.Her 800-square-foot house, which is actually two attached earthquake cottages, has been what she calls home for the past three years.
He said while it wasn't a huge drop, it may be enough for buyers to get off the fence about purchasing a home in the Bay Area.'It may be that the price the client thought was unattainable is now attainable. But let's be real clear; that buyers' ability to afford a purchase price is only one side of that equation. There's also the seller's expectations,' he said.Platt advised that sellers manage their expectations on their prices after the interest rate drop.