Well, just today I was asked by the guy where I get my weekly supply of bagels where I thought the housing market was going--and hopefully NOT through the hole in the center. I told him that as the economy moves back and forth, it has become very much a town by town and home by home situation. If this sounds familiar, it's because I have been discussing it with some regularity here for awhile. now, his immediate prospects are not as rosy as yours (assuming you live in Marin). He lives in Vallejo and commutes to Mill Valley on a daily basis. In Marin, however, there are at least some areas where we do see some increase in values. To some degree, it's house by house, but more frequently, the direction is up. That's not UP as in there goes the rocket into orbit, but it's more likely up as in slightly more than it was a month ago. Exceptions by town would include Novato and San Rafael. Interest rates are still having an effect on sales, as the rates continue to set new low records almost weekly. A quick call to our in-house mortgage guys at Mortgage Services Professionals confirms this. If you want a quote, give them a call: (I415) 380-2160 and ask for Adam or Dave. As you've heard me preach before, lower rates makes your home more and more attractive to buyers, so it's a good time to consider listing. If you're a buyer, what better an incentive than renting your money for less from the bank? Call us to help value your home for the best deal possible, or, again if you're a buyer, to help you find exactly the home you're looking for.
Separately, one thing that would definitely stimulate the housing market would be a solid upturn in the employment markets. Obama laid out a very cogent plan last night. If you want to get this economy going, get in touch with your reps in DC and tell them to get working on it! The sooner they do, the better for everyone!