Marin Apartment Market Picking Up in the Third Quarter

After two quarters of real estate investors sitting on the sidelines, the market has suddenly come alive and investors are out in full force. With interest rates at historically low levels at around 6.25%, and competing investments paying paltry returns, investors feel confident again about the local real estate market.

In just the past two weeks, more smaller income properties went in to contract in Marin County than the previous six months combined. Since real estate investing has everything to do with consumer confidence, recent headlines in Northern California newspapers, have helped fuel this new interest. Many industry observers have noted that the worst is over and the housing market is on a rebound. This statement can be born out with recent reports that sales had increased more than 11% in June from the previous month.

I expect that the smaller income property sales will follow and we will see dramatically increased activity in the last two quarters of the year.

Rents that were falling at the beginning of 2009 have now flattened out and we do not expect any more downward adjustments for the remainder of the year. If we are now truly in economy "recovery" mode, the best time to begin investing is now.

Happy hunting!!
 
Katherine J. Higgins
Investment Broker
Mobile: (415) 302-7730