Out of curiosity, do you know how many of your offers were from foreign nationals? I've seen some articles talking about how overseas investors are driving up property prices and was wondering if it was true in your case.
The biggest problem is operational for these huge towers. The occupancy rates are all over the place with wild fluctuations. It makes things like staffing and water pressure difficult to manage.
The San Francisco and San Jose metro areas ranked ninth and sixth from the bottom, with all-cash deals representing only 28 and 24 percent of purchases, respectively. All-cash sales in San Francisco peaked at 36 percent in the first quarter of 2010, Zillow said.
http://www.sfchronicle.com/business/networth/article/All-cas...
I doubt it's overblown.