If you read the San Francisco Chronicle or sfgate.com, you might have come across a very noticeable article (at least noticeable if you are buying, selling, or interested in Marin County real estate!) The article even got picked up by a national blog – Calculated Risk – which is widely read by Wall Streeters and investors.
Mortgage distress is rising in affluent areas around the Bay Area, according to a Chronicle analysis of foreclosure notices.
Not very positive, especially when the article mentions Greenbrae and other “high end†zip codes in the Bay Area.  Well, here’s what I’m seeing locally:
So far, so good this Fall. Â Asking prices have remained steady and are slightly above price levels from 2006. Â Certainly not where we were in 2007, but these seem to be holding well.
What about the number of Greenbrae homes available for sale (a.k.a “inventoryâ€):
Definitely rising….
So yes, markets like Greenbrae are showing trends the don’t exactly jive – you’d expect prices to fall a little with the increased number of homes of the market.
October has been the busiest month in Marin all year for sales, but we are also seeing a buzz in the general market. Open houses are busier, even my web traffic has been up this month.
It’s never a perfect science but getting in to the details is important. Real estate is local and you can’t believe everything you read in the newspapers.