While most other real estate markets have experienced a frightening freefall, Marin County, California—a bucolic enclave across the Golden Gate Bridge from San Francisco—has merely “softened a bit.” Those are the words of Karen Hardesty, a long-time veteran of Marin County real estate who shares an office in quaint Tiburon with her daughter Chelsea. Further, Karen sees the recent decline in Marin property values, modest in comparison to other communities, as a “correction that’s been long overdue.”

Hard to believe but Karen (who has been a real estate broker in Marin since 1982) says that the current correction is the first downturn she has experienced in Marin. “Historically we would experience aggressive appreciation for a period of time and then values would stay at a plateau for 2-5 years. Before the current softening of the market it had become rather insane with multiple offers on desirable properties pushing the prices out of the realm of reality. I hate those frenetic times. They are not good for buyers or sellers.” Well, that hardly sounds like typical broker speak. Perhaps Karen’s attitude comes from the fact that the Hardestys, who have separate businesses under the banner of McGuire Real Estate, live and work in a highly unique spot on the map.

 Marin County, with a stable population of a quarter million, has historically been resistant to development. Karen calls the county’s mindset “no-growth oriented.” Seventy percent of Marin is open space. “As opposed to other areas all over California, we are not in competition with homes in developments,” Karen says, adding that people are drawn to Marin County, or plant firm roots there, mainly for its natural beauty and exceptional public schools. The Hardestys work in a small boutique office—just a block from the water. In contrast to the hustle bustle found in a lot of realty firms, the McGuire office exudes a sense of calm. “I would say we eat, breathe and sleep real estate—it’s a twenty-four/seven job, but our clients would never know it,” Chelsea says with a conspiratorial chuckle. The Hardestys sacred philosophy is pretty simple: clients first. Happy customers who enjoy the experience have led to continued repeat and referral business.. “When I hear other brokers desperately saying ‘I have to sell a house, I’ve got to get these people into something, I cringe,” Chelsea says. “Clients proceed at their own pace with the assurance that we are sensitive to their needs and timeframes.”

 Karen started in the real estate business in 1979 in Newport Beach, California. She knew right away it was a fit and provided her with the ability to work full time and still arrange her schedule to be there for her small children. “From the beginning it was obvious to my clients that their needs came first. Because of that the referrals started coming in immediately. Many of my clients have become dear friends through the years. I consider this one of the greatest rewards of this business.” Chelsea, meanwhile, was running the U.S. Equities division of Bank of America in London when her mother was diagnosed with cancer in 2001 and given three months to live (Karen has long been cancer-free). Chelsea returned to Marin County, continued in the financial business, but “living in a corporate environment was getting old, so she decided to run her own business the way she wanted. It was only natural that Chelsea turn to real estate.

 That was in 2003, and she hasn’t looked back. Although their businesses are separate, mother and daughter routinely cover for each other. They also share similar priorities: For instance, a portion of each transaction goes to causes that focus on helping children. Working so closely together has, Chelsea says, “enhanced our relationship. We’re good friends, we travel together occasionally, we have friends in common, we socialize together, but we make sure we have time apart. It’s definitely given us a deeper understanding and appreciation of each other.” - Eric Snider