How many prospective home buyers feel that way? Why is there no motivation or urgency to purchase real estate in today’s market?There are a number of factors involved, but the biggest is confidence . Confidence has eroded to the point where we are now enmeshed in the proverbial vicious cycle. Once people lose confidence it takes a lot to restore it. Think about the person you trusted with your money, emotions – you name it. Once they’ve abused your trust, how likely are you to believe in them again. Not very likely at all. These days, that’s where it is with all things financial. Prospective home buyers in today’s market are worried that what they buy today won’t be worth as much next month. In some cases that’s true. However, all markets are cyclical. Just as we are suffering a severe credit crunch and declining home prices today, you can be assured we will once again experience a booming real estate market and readily-available funds. When will that be? That’s the tricky part, and by waiting for what you decide is the bottom of the market”  you may very well miss the best opportunity to buy intelligently now.

Yes it is true that qualifying for a mortgage loan is more difficult than it’s been for several years. It better be. The ease with which loans were made in the absence of any documentation or qualification is one of the biggest causes of this mess – from the ballooning real estate prices to the Fed’s bailout of the troubled American International Group (AIG)” . All do to reckless lending practices and an over-zealous Wall Street. Keep in mind that home prices, especially in Marin County, are lower and softer than they’ve been in decades and interest rates are still historically low. Does this qualify as the bottom?

Soon you may look back and realize the bottom of Marin’s real estate market has come and gone. These next few months may or may not be the bottom, but buying conditions – soft prices, low interest rates and a large housing inventory – are certainly optimal! Buying conditions haven’t been this favorable in Marin County for almost two decades. What are you waiting for?