We all have them from time to time, the “ah-ha” moment. Mine came to me in Banana Republic, on my way to run an errand. Now, I absolutely hate shopping; I just don’t find it amusing. I have to make my way through racks and racks of disheveled clothing in the hope of finding one decent thing. It’s frustrating, boring and more importantly time-wasting. But just to see how drastically the major stores were reducing their inventory, I walked through Banana Republic, where they were advertising “up to 70% off”. “Sure, I thought to myself—I’ll bet it's all junk”. I started in on the rack of trousers—“nope, nope, nope, hold on . . . . Wow!” A pair of wool pants, classically cut, nice subtle pattern, great fit. Originally $98.00, now marked down to an unbelievable, $13.99. This was truly a bargain. Sold!
How does this experience explain the market for Marin home properties? It is exactly this same "Wow" experience that Buyers need to have in order to make a home property purchase decision in this market. Properties simply have to represent excellent value for money, and arguably the very best on the “rack” of property choices. The property has to evoke an immediate “Wow” reaction. And then the facts show, the home will sell. As recently as last week, just such a home sold in the Dominican, priced at $699,000, it had 4 offers on it, with 3 more waiting in the wings.
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