Hello Everyone,
Resist the urge to believe that the local real estate market has hit the snooze button. There is a lot of activity percolating just below the surface. The February 25th issue of Time Magazine "Right on Your Money" section features an article by Dan Kadlec with a headline that says "Ignore the Headlines! Except this one.----" The article goes on to quote Peter Lynch, the famed former manager of Fidelity's storied and mega-successful Magellan Fund on investment strategy that focuses on value and ignores what everyone else is doing. The article goes on to say that this is a great time to buy a home, citing favorable mortgage rates and other factors. The full article may be read at http://www.time.com/time/magazine/article/0,9171,1713483,00.html
In the past week, almost all price segments of the Marin County real estate market increased their percentage of listings in contract. There is only one segment that is in "strong buyers' " territory, and that is the $3million-plus SFR segment. Everything else is in "buyers' " market territory, and most of the segments are moving up the ladder towards "balanced".
The market may not have turned completely yet, but the media have started to play a different tune and consumers can't be far behind.
More next week.
Until then, best wishes to all,
Fred
p.s. for access to spreadsheets please see http://www.fredanlyan.com
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