Very interesting comments from Leslie Appleton Young, Chief Economist @ CAR. Two quotes seem to be relevant to our high end sellers and more mainstream buyers respectively.
High End Sellers - "In the upper end, we have unrealistic sellers who are very nostalgic" for the boom years, said Leslie Appleton-Young, chief economist for the California Association of Realtors.
Main Stream Buyers - One bright spot in the market is an increase in the number of investors seeking real estate, Appleton-Young said. According to the CAR survey, 23 percent of recent transactions were all-cash, an indicator the buyer was likely an investor.
If 23% of buyers are "investors", two fundamentals must be near certain:
1. Marin County home pricing, on average, is stable to rising modestly!
2. Marin County real estate is considered a very strong 5 year investment.
Here is link to the article - http://www.marinij.com/business/ci_16565704?source=email
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