No one thought there was a real estate bubble in marin county. Always buffeted from the economy’s harsher cycles marin’s real estate seemed above the mundane. Things change. since the middle of 2008 we’ve watched housing prices plummet as much as 30% and more. An example is a condominium currently for sale at $90,000. this same condo sold 1 1/2 years ago for $275,000 (overbid, of course). $90K is the “asking price”. Who knows what it will sell for. Even at asking price that’s a 67% drop in “value”. If there’s another wave of foreclosures, especially in areas like San Rafael and Novato, prices in those towns will continue into even deeper declines the we witnessed in 2008.