Marin, California: 

There's no shortage of articles and headlines focused on the demise of our real estate market nationwide.   The doomsayers have be predicting the burst of a mysterious ‘real estate bubble' for years.   And, we hear of another bank in trouble for questionable lending practices almost everyday.   It all sounds really scary, huh?

Well, I was really proud of the position taken by Tam Realty Realtor and owner, Kira Swaim, last week when interviewed by the Marin IJ for an article titled Single-family homes sales slide, median jumps by Jennifer Upshaw (see the article at http://www.marinij.com/portlet/article/html/fragments/print_article.jsp?articleId=6885364&siteId=234).  

Synopsis:   Homes will take longer to sell in a slower market (note: it's a slower market, not a cheaper market - and certainly not a bubble bursting market).   That is a bit scary for a market that spent the better part of the 21^st century enjoying skyrocketing prices, multiple offer scenarios and historically low lending rates.   Don't panic!   As Kira told the Marin IJ, solid, well-priced homes are still selling - even today, but they do take a little longer.   A recent study I completed reflected the time it takes to sell a 2 bedroom condo/townhouse in Novato, CA is currently a little over 3 months.   So, be prepared.   Homes won't sell in 1 weekend in this market (unless they are under-priced).   Of course, if you are in a situation where you can't wait to sell, then consider pricing the home accordingly.

Other thoughts and lemmings:   What is it about our makeup that makes us want to run the same direction as everybody else?   Could it be the same reason that cows in a field seem to always be facing the same direction?   Specifically, when the real estate market is red-hot, everybody wants in - even if it means paying a premium.   But, as the market slows, or in our case, becomes balanced, buyers want to wait.   Wait for what?   Wait for everybody else to help drive the prices up again?   Wait for a climate where you can't negotiate with sellers?   Wait for a market where you have to write an offer without prudent inspections and/or contingencies?   It doesn't make sense for homebuyers who are trying to buy homes to live in.   I concur that the days of the ‘quick flip with profit' are behind us...but that's not the typical buyer.   If you actually want to buy a home to live in - and to create a solid long term investment - buying as the market slows is sound advice.   What ever happened to ‘buy low, sell high'?   

Right now in Marin California we have a solid inventory, sellers willing to negotiate and a general lack of competition among buyers.  

This is a great time to consider buying in Marin!

Mitch Todd/Realtor

member of GreenerMarin

at Tam Realty

415-259-7082