As discussed in “Should You Buy, Should You Sell? Part 1“, choosing to buy or sell in Marin County does not have a blanket answer. Volatility in the mortgage industry is definitely impacting the Marin real estate market. Some areas of Marin are being hit harder than others.
How does it impact you?
For Sellers
- Before you decide to sell, find out what is happening in your neighborhood. How many homes are on the market? Are they selling quickly? Some cities in Southern & Central Marin are suffering from such low listing inventory that homes are still selling rapidly and many with multiple offers despite the mortgage troubles.
- What is the condition of your property? Is it pristine and staged to sell? Is it located in a good school district? In some areas, buyers are still lining up to purchase nice homes in desirable school districts.
- Think outside the box. Talk to your agent about strategies to attract home buyers. Consider paying points to buy down a buyer’s interest rate. This will substantially increase the purchasing power of a buyer interested in purchasing your home.
Multiple offers are still happening on a regular basis. Don’t be hesitant to sell in this market. The key is to price your home right and prepare your home properly. Now is not the time to panic, nor to just sit on the fence. Research your options to find out what is best for you and your financial situation. Talk to a qualified real estate professional to find out if you should make a move now, or wait the market out.
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