Sorry, Summer. Fairfax housing price went up like the rest of Marin, hippie town or not.
The majority of the short sales and foreclosures we have seen so far are in the least expensive parts of Marin county, such as Novato and certain parts of San Rafael. We are seeing some of the short sales and foreclosures start to occur in Southern Marin but they are still far and few in between. If there is any good properties with lower prices, they are pretty much 'googled up' quickly - with multiple offers also.
The other thing that's in play is the stimulus plan where first time homeowners can get up to $8,000 tax credit if they purchase by 11/30/09, the interest rate is low, the government is really encouraging the lenders to work with homeowners on loan modifications and delaying foreclosures. Those initiatives are having an effect on the market and we are seeing a shortage of short sales and foreclosures during the past few months. Two of my clients just successfully modified their loans, which means their houses will not be one of the distressed properties on the market. These are all parts of the equations.
You really need a good Realtor who knows how to advise you on purchasing short sale and bank owned properties to keep an eye out for you, advice you and guide you through the process when a good property comes on the market. I have been very successful in chaniing my focus and helped my client sell / acquire those properties.
I like to tell my clients that if they try it, they will at least have a chance of getting a house and if they don't even try it, they will never get it. Staying on the sideline will just be that.
I will be happy to get you started. just email me or give me a call.
Frank Howard Allen Realtors