As you know the market has shifted a wee bit. I read an article not long ago about the depressed market in Detroit. Where is a house sells at all, it may sell for the price of a car. There are even homes that are boarded up. My daughter lives in Salt Lake City. The market there in the past few years had been quite brisk. Today however, on the outskirts of Salt Lake, prices are falling, many people are losing their homes. Guess what happens when that happens? Rents go up, available rentals are fewer.This scenario is being played out throughout the country. But there are places in the country where the market is still strong.
We are so luck to live in Marin. Besides it's natural beauty and enviable lifestyles, these down times are much less notable here. Here, in my experience, there may be fewer homes sold, but prices remain quite good. Visit http://www.greathomes.org/adpages/frame-mlsstats.html to view statistic from 1965.
In 2007, as seen during other slower years, our sales are down but this
year our prices on average have increased 8.8%
Normally September is one of the busiest months for Real Estate sales in Marin. This September our sales were down. The uncertainty of the mortgage crisis impacted sales by keeping would be buyers away. Many of these buyers have opted to wait it out. Therefore the number of people looking for rentals is on the rise. Thus, rental prices are also on the rise.
How are you feeling about this market? Ultimately, no matter how many statistics tell you Marin is a great place to invest, your own personal circumstances will dictate how the Real Estate Market is for you.
For me.... this has been my best year yet and I hope you can say the same!
2 comments:
Ok, how do you get so many apples from the front apple tree??
pattibott@mac.com
Well, Glenn dug a very deep hole. Now the tree actually is getting watered on a regular basis. Anyone wanting apples are welcoem to come visit and take a few!I have three giantic bags inside the house, so if the apples appear gone...knock!
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