Front Page. Back Loaded.

We're sure many of you caught the front page headline in the Chronicle on October 11th. "State's Housing Market Agony Predicted to Deepen Next Year," it read. At Next Generation Real Estate, we agree. Statewide, the picture isn't pretty (unless you're a buyer with good credit, cash on hand, and a long term investment strategy, that is). And it doesn't look likely to improve right away. (Of course, headlines that include the word "agony" don't exactly soothe shattered confidence.)

But as we're always saying, do yourself a favor and read the entire article. Note the passage that says, "The median price for the state is expected to edge up 3.5 percent for this year." What?!? Huh?!? Why would prices go up when sales go down? Indeed, as the article points out, it's the lower end of the market that's really struggling. In fact, properties at higher price points are actually selling reasonably well and accounting for the uptick in median price. And guess where many of those high-end properties are located. Right here in San Francisco and Marin. Maybe you even own one.

As we're also always saying, you can't draw conclusions about a local market based on broader regional or national trends. Ask a Realtor (we know a couple good ones) how your local market is doing before you decide it's in the tank.

Of course, even Marin and San Francisco have come back to earth from their dizzying heights. "What goes up..." and all that. But looked at under a clearer lens, both local markets offer a prettier picture than you might expect.

If you'd like an in depth market analysis of your home or neighborhood, don't hesitate to get in touch.