As we head into the end of the year we are seeing positive activity in real estate sales. We have a high of 34% of the 1350 available homes in escrow. We realize that the scramble of first time home buyers for the $8000 credit is part of that along with the number of short sales and foreclosures being snatched up by investors. Nevertheless the high end - over $2mill - is also moving with 12% of the 200 homes in escrow. We are optimistic about next year, not that prices are going up but that interest rates will stay down and activity will increase. This is all good and if you're a buyer or seller there are some things to consider in your decision making for the next few months.
Marin County Home Buyers, don't wait to buy. There has never been more opportunity of inventory and prices, and keep in mind the tax ramifications of buying this year. It is critical that you solicit the help of a professional who can find what you are looking for and guide you through the maze of available inventory and the financing hurdles ahead. Top agents also have access to what's off the market and what's coming on in the future. We just sold two homes that never hit the market. This can be valuable information when looking at all your options.
Marin County Sellers, watch your timing. Most sellers are saying this time of year that they are going to “wait for the spring” and that may not be your best move. The holidays can be an excellent time to find the right buyer since the buyers who look over the holidays are serious buyers and they make quick decisions. These are the relocation buyers, the school district movers and the families that are visiting and want to move here and they will only see what is available. They have no idea of what is coming on in the spring. What we do for serious sellers is to let the top agents know it is available to show to qualified buyers by appointment only. We sold a home on Christmas day 2 years ago. The buyer came in and was in a hurry, loved the house all decorated for Christmas, put in an offer and went back to Connecticut. Here is another caveat. In the spring there will be a jump in inventory by 30%. What do you think that will do to the value of your home?