Do Undervalued/Below Market Houses In Bay Area Exist?

[Edbert Chan]

I've been eyeing the Bay Area market for the past 5 years and to me, the only way to get a "good deal" (I'm talking about 5-10% below market/listing) is through negotiations alone (throw a non-contingency on the offer, find a property sold by a unexperienced real estate agent, etc.). 

The reason is that you're competing against a lot of tech millionaires who are ready to offer full cash for anything, including a burnt out husk of a house. While the pandemic should in theory have caused a seize on this, instead because of the lack of inventory, housing market prices have gone up.

People who have found these unicorn 10% deals, how did you do it?