Signs of Recovery

Posted by Alex Narodny on Tuesday, February 15th, 2011 at 3:08pm.

Looks like the February summer weather is over and we're back to some chilly days and intermittent showers. Our tanks are already full and the landscaping is healthy but if nothing else, the rain means snow in the mountains for all those Marin skiers and snowboarders. Healthy also seems to be the current status of the Marin current real estate market and for the most part, the outlook looks promising. We are very busy with eager buyers looking for homes while the interest rates stay low, and willing sellers who see no drastic change in current pricing and have the desire to get on with their lives. There are currently just over 1000 homes -single family and condos - on the market of which 360 are in escrow. That's a  strong percentage of homes under contract and although we expect a big jump in inventory come Spring, we don't expect a shortage of buyers. Although we don't anticipate home values to escalate, we do see a continued demand for Marin homes and a stabilization of the market. We also see a strong demand for the "upper end" with buyers looking for homes in good neighborhoods and coming in with allot of cash, which is something we have seen lately. In the over $1.5 million we are seeing a number of homes not officially on the market but available to show. There is an exclusivity to this approach which appeals to sellers, and with the right exposure to the top agents, it's a viable way to sell a  home when inventory is down. The bottom line is that right now there is optimism about the Marin real estate market, and we see ourselves being very busy in the next six months with eager buyers and sellers ready to make a transition. Let us know if you have any questions about specific neighborhoods and what may be available that is not officially on the market.

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