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Still a Good Time to Buy Real Estate in Marin

Sitting on the fence and wondering about if this is a good time to buy Real Estate in Marin?  kim Locklin from North Coast Mortgage provided the following insights at our office meeting today on why this is still a good time to buy real estate in Marin or the Bay area:  


  • Housing pricings locally relative to income and interest rates are not over-valued.
  • Local in come are rising and the unemployment rate is LOW.   The last housing bust happened when there was a very high unemployment rate.  Marin’s unemployment rate is below the national average.
  • Companies are expanding.  Commercial space has the lowest vacancy rates for the last 14 quarters in San Francisco.  Marin has had the strongest quarter since 2001.  Think:  Hamilton Field Park expansion quickly (possibly Disney), Genentech, Autodesk and all the support services around them.
  • Interest rates are still at 30-year low levels.
  • If interest rates drop next year, more buyers will enter the market.  More buyers means more competition, possibly multiple offer situations.  Buyers who buy now can always refinance at a lower rate.  But, they get a home at a lower price today and can bank the appreciation!
  • According to the statistics on Foreclosure rate - Foreclosures in Marin for second quarter, 2007 were up 103.4%, but this only represents 118 units total being foreclosed on.  To put this into perspective, there were 53,943 units statewide that went into foreclosure in the same period.

Please call me if you want to check into mortage and housing options, I will be very happy to assist you. 

Posted by Sylvia Barry on August 2nd, 2007 2:41 PMPost a Comment (0)
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 MARIN REAL ESTATE
Sylvia Barry provides professional Real Estate Consulting for Marin Home Sellers or Buyers - Novato, San Rafael, Corte Madera, Kentfield, Mill Valley, Ross, Belvedere, Tiburon, Greenbrae, Larkspur, Marinwood, Nicasio, San Anselmo; as well as Sonoma County Sonoma Real Estate Consulting - Petaluma, Rohnert Park, Cotati, Santa Rosa, Penngrove. Marin County Real Estate, Marin County Homes, Marin Realtor,
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