I think I have seen it all. The Market has gone crazy...bananas. In just 6 months, I have seen prices fly up to near 2007 prices...20, 30 , 40% jumps....multiple offers with 15-20 offers 15% over asking price and no contingencies. It really is wild out there after so many years of snail slow real estate with prices falling.
Why?
Inventory was just terribly slow last year....we have the lowest interest rates EVER...and finally the media has decided the market is recovering.
I am conflicted. When I look in my crystal ball of Marin Real Estate future...it is cloudy.... Part of me feels like this is a mini bubble, prices will fall a bit, and the market will settle down once we get a flood of new listings or rates creep up....the other part of me thinks that this is the fastest most amazing recovery in history.
Whew!
Wednesday, March 6, 2013
Subscribe to:
Posts (Atom)
