Is this a seller's market in Marin?

Posted by Erika Mehrer on Monday, February 27th, 2012 at 8:06pm.

Well by statistical data, the months of inventory of housing in Marin would indicate that it is a STRONG seller's market in Marin.  The number of months it would take for Realtors to sell all of the inventory currently available for sale in Marin is 1.8 months.  4.5 months would be considered a balanced market.  Above 4.5 months, the market signs indicate the negotiation power is in the buyer's favor.  

With inventory being at an all time low for the last decade, interest rates at historic lows, consumer spending up, global economies trying to correct themselves, technology companies booming, jobless rate decreasing and home sales increasing, buyers are determining this is the time to get into the real estate market.  The bottom of the market has revealed itself.  Buyers are now competing with multiple buyers for the same home. This competition is driving prices upward and the signs are revealing that there isn't an end to the frenzy.   

Cash buyers are also a big contender in this market place.  With clean and easy terms, such as no financing or appraisal contingencies and a quick close, these cash buyers are appealing to sellers uncertain that they can unload their distressed homes in this market.

Given this market is a challenge for many Realtors vying to win these deals for their clients, the market still shows signs of hope for many buyers and sellers.  Working with a Realtor who is a top producer in their market is key to a buyer's and a seller's success in this market.  For the buyer, it is important to get the right counsel on negotiating the best winning offer and for the seller it is imperative to get the right counsel on best positioning the home for sale.  For example; if you are a buyer and you are competing for a home, you want to set yourself apart from the rest of the competition by considering other creative terms other than the best price that would appeal to the seller – maybe by adjusting the close or inspection timeframe, increasing your deposit or downpayment and spelling out different terms in the contract.  To best position a seller in this market, I would take a three prong strategy;  price the home just slightly below fair market value to attract multiple buyers and achieve a price higher than what you would have received if you would have priced it higher, present the home to highlight it's best features and promote the sale of the home via multiple online and offline marketing channels.

If you are searching for a Realtor that is going to be HONEST with you, guide you down the right path and set you up for success in this real estate market, feel free to get in touch with me.
Erika Mehrer, Realtor and Marin Real Estate Consultant, is known for great service and in-depth knowledge of the real estate market in Marin.  Erika is also on the Board of Directors for the Marin Association of Realtors and a member of the exclusive Top Agent Network in Marin.  For assistance with your real estate needs, please call or email: (415) 531-4945; Erika@MarinModern.com 

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