July in Marin: Sunny Summer Slowdown Starts Early

Summer is here in Marin and what a great time to live in northern California. The kids are out of school by the end of June and many go back in August, so July is our only full vacation month for families. And vacation they do. As I write this, local roads, shopping malls, markets and even the gym are basically empty as most people seem to be anywhere but here. So where do they go?

Our county is one of the most beautiful in the state, so a local Staycation is always an option. But still, friends, family and clients tend to head to Tahoe, Hawaii, southern Cal or any number of places. As for me, I’m heading to Austin Texas for the first time to visit Kathryn’s family. Her brother-in-law, John, runs a large fireworks show there and I’m told the one for the Fourth is a doozy. So you know what that means. That’s right! Like any boy at heart, I’ll be begging to press the button to send the colorful sky bombs aloft. Stay tuned for more!

As for the real estate market, the slowdown which started early for us this year continues. What used to happen beginning July 5th, now tends to start in mid June, with an overall slowness being felt pretty much in all price ranges. That doesn’t mean “deadsville”, just from frenetic to only fairly steady and still busy. The lower and mid range of any of our twelve towns continues to outperform any other sector and stay robust. Multiple offers still abound as buyers lock in mortgage rates that are still cheaper than paying rents. You think home prices here are high, do some research on the rent for that property you’re looking at and you’ll be astounded to see that the rent often exceeds your monthly mortgage payment. And with prices continuing to slowly go up, buying is usually the smart long term move if you plan on being there at least two years.

That’s it for now. Enjoy July wherever you are. Any real-time questions though, let me know what I can do to help. Thanks for reading and here’s to a great 2018 for all of us.

TS

Text or call 415.377.5222 or ted@gomarin.com

Filed under: Marin Real Estate Blog by Ted Strodder