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.
“I’ve been very happy here, but now it’s time to get a larger place to live,” Viek told CBS News Bay Area.
She’s been looking to sell her home and buy a bigger home for her son and daughter-in-law to move into.
“It’s been hard actually. I’ve been looking for seven months, and it hasn’t been much inventory,” she said.
But now, after learning that the interest rates were dropped half a percentage point by the Federal Reserve Wednesday, she is hoping for a bit more relief in the market.