How's the Market?

The other day someone poked their head in the door at my office and with a smile that was a frown turned upside down, squeaked, "How's the Market?" There it was again. The dreaded question, like a mosquito buzzing around my head in the dark. 

Well, what would my answer be this time? I sized him up and thought maybe he would be the analytical type and I could impress him with my "up to the minute" market statistics, bar graphs, and colored pie charts. Or, maybe he just wanted me to wow him with my best professional opinion based on over 25 years in the business, backed up by the professional opinions spouted in the IJ, of course. Or, wait a minute! He could be a potential seller interviewing me for his spectacular new listing! Or one of those coveted pre-approved buyers just waiting to find the perfect house, which of course only I happen to know about. What to do...

I know. I could cover all of those scenarios with a one word answer: "Great!" 

And that would be the simple truth if you are a realistic buyer or seller.

But a blanket statement on the market is never one-size-fits-all. While external factors such as supply and demand, prices, and interest rates dictate the feasibility of buying or selling a home, personal factors ultimately determine the state of the market and if now is the right time for YOU to buy or sell: are you in a place in your life where you need to downsize? Do you have a growing family that needs more space? Were you just relocated for a new job? Do you want to be closer to family? Would you prefer to have your cash in equity? Are you pursuing a lifestyle change? 

If now is the time, you’re in luck, because the external market factors are quite attractive. Interest rates have been hovering around all-time lows, there are many homes for sale at reasonable prices in Marin, and many buyers are out there looking for the perfect house. We’ve seen the return of some multiple offers, cash deals and quick closings.

No one has a crystal ball to predict when the “perfect” moment is to maximize value. But, as I told the inquiring mind in my office, right now the market in Marin County is just plain “great!”

How does the market look in your eyes? I'd love to hear in the comments below.