Monday, October 02, 2006

Welcome to the Richmond Report. Here, you’ll find helpful information about Marin County real estate. Check in whenever you feel like it. We hope you find the information posted here informative and helpful to you. If you have any questions, want some assistance regarding your own existing property or some help in finding just the right property to buy for home or investment, check in here any time at all. We’ll leave the light on for you.

One of the hottest local topics at the present time is what’s happening in the Marin real estate market. After eight or nine years of record increases in values, multiple offers, and sellers realizing huge gains on the sale of their real estate, a change has arrived on the scene. No, the so-called ‘bubble’ hasn’t burst. There never was a bubble, in our opinion. What HAS happened is that the market has undergone a slowdown, the effect of which is that buyers are taking their time before buying and they are also being much more particular as to how much they pay for a piece of property. Coupled with increased loan rates, this has resulted in longer periods of time on the market for a home before it sells, and more listings expiring unsold.

So, what can you do about this if you’re a seller? The most important thing you can do is not overprice your home. Price is always important in selling a house, but with the market leveling out more and more it has become more important now than ever. Some houses are not remaining on the market for much longer periods of time. Rather, they are still selling in 1-2 weeks, sometimes with more than one offer. The reason for these exceptions to the market is simple. They were priced correctly with the current market in mind. Curious what your home is worth? Give us a call. We’d love to help you.


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