Mortgage distress is rising in affluent areas around the Bay Area, according to a Chronicle analysis of foreclosure notices.

Not very positive, especially when the article mentions Greenbrae and other “high end” zip codes in the Bay Area.  Well, here’s what I’m seeing locally:

So far, so good this Fall.  Asking prices have remained steady and are slightly above price levels from 2006.  Certainly not where we were in 2007, but these seem to be holding well.

What about the number of Greenbrae homes available for sale (a.k.a “inventory”):

Definitely rising….

So yes, markets like Greenbrae are showing trends the don’t exactly jive – you’d expect prices to fall a little with the increased number of homes of the market.

October has been the busiest month in Marin all year for sales, but we are also seeing a buzz in the general market.  Open houses are busier, even my web traffic has been up this month.

It’s never a perfect science but getting in to the details is important.  Real estate is local and you can’t believe everything you read in the newspapers.

Courtesy of Altos Research