Marin Real Estate News
Posted by Alex Narodny on Wednesday, February 29th, 2012 at 1:18pm
The year has started off with renewed optimism about the real estate market. The current inventory is 900 homes of which 42% are in escrow. That is the highest percentage we've seen in years and although that is a reflection of the low inventory, it is also indicative that there are buyers out there looking for homes in Marin! We're seeing buyers looking not only for a home but also for investments. The rental market is tight and interest rates are at an all time low 3.3%-4.5%. Some investments show a positive cash flow. That is not something we've seen in Marin for a while. Economic signs are all pointing in the right direction with unemployment the lowest it's been since 2009 and manufacturing up. Sellers have to realize that this is the time to turn a corner and put their home on the market. We might be recovering, but it is going to be a few years before we see the kind of appreciation that would give us the home values of 2006. There will also be short sales and foreclosures that will affect property values which is all the more reason to act sooner rather than later. In addition, sellers that are going to be buyers will have some great opportunities. The homes they buy today will appreciate in time. It's been a buyer's market for several years and it will be the same in 2012. Mortgage rates and reduced values will start to rise and buyers and sellers who recognize that will stand to realize tremendous gain in the years to come.
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