Prudential Shuts Down Offices In Expensive Marin County
Do you think that the real estate slowdown is only impacting low end and far out housing? Think again.
Prudential is on the process of shutting down most of their offices in tony Marin County, just across the Golden Gate Bridge from San Francisco. The ultra high end market of Marin has seen a decrease in sales of 34 percent in the past year and real estate offices that do not have a strong presence in the county are leaving or consolidating their offices.
What interests me is that the subprime loan market is a driving factor in Marin County real estate. I visited there for many years in the eighties and was always amazed at the amount of wealth that was around. To think that the market could be that impacted by subprime borrowing is worrisome to say the least.
Prudential is one of several real estate companies that has closed or consolidated in Marin. In May, Avalar Real Estate closed its Novato office and consolidated operations in Larkspur. Likewise, Coldwell Banker closed its Novato office, concentrating its operations in San Rafael, where about 60 agents are based.
Levi Swift, president of the Realtors association, said the slowdown in sales is due to the credit crunch and failure of the subprime market. via the Marin Independent Journal.
My wife has actually decided to study for and get her real eatate licence just so we dont ever have ...
I like your analogy in this article. The real estate economy really is like a patient who you cannot ...
Real Estate is hyper-local. Every market is different. Phoenix has already hit bottom and is starting to recover. We have ...
Great to hear that the big boys
are predicting recovery sooner than
most think.
Thanks for the value! 
I agree--good analogy. You have to crawl before you can walk. Right now, at least in Austin, many people would ...
I live in the Philippines and I am glad we are not on the lists... 
I have a few Litograghs of Presidents homes , made by Richard V. Sebring. yr. 1990 Do they have any ...
I see the question I have, but no response. I do not have a for sale sign up ...
Comment by homebuyerfirst on 2 July 2008:
I wish that we could say that the real estate business is going to be picking back up soon but I am not sure that it is with country in debt to our ears. Thanks for the post
homebuyerfirst
http://first-time-home-buyer-s.com