Metallica to perform in benefit for 'Marin History Museum'
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Friday, July 17, 2009
Wednesday, July 15, 2009
Marin Towns struggle to meet housing madates
"Towns across Marin are having trouble meeting housing requirements that have been mandated by the state government and determined by the Association of Bay Area Governments (ABAG). In Marin, only Belvedere met the June 30 deadline for submitting housing element plans.....
"The reason that it's difficult in Marin is there's a shortage of land available for development," said Peter Ramsey, a member of the Fairfax Planning Commission who also works for the Marin Housing Authority.
Much of Marin County has been set aside as permanent open space where no houses can be built, and in areas where development is encouraged there is often little space left for more housing units."
Read the full article from MarinScope:
Marin low Foreclosure rate compared to state
"San Francisco logged 70 foreclosure sales in the month of June, the fewest number of sales per population of any county in California, but still a 19 percent jump over May, according to a report released today by ForeclosureRadar.
Overall San Francisco saw one foreclosure per 11,779 residents. Two other Bay Area counties posted numbers that landed them in the top five of least foreclosure sales per population: Marin County had 50 foreclosure sales, or one per 6,037 residents; and San Mateo saw 151 foreclosures, one per 4,897 residents. In the bay Area, Contra Costa suffered the highest foreclosure numbers...."
Full article From San Francisco Business Times
Overall San Francisco saw one foreclosure per 11,779 residents. Two other Bay Area counties posted numbers that landed them in the top five of least foreclosure sales per population: Marin County had 50 foreclosure sales, or one per 6,037 residents; and San Mateo saw 151 foreclosures, one per 4,897 residents. In the bay Area, Contra Costa suffered the highest foreclosure numbers...."
Full article From San Francisco Business Times
Friday, July 10, 2009
Smith and Hawkins goes out of business
So long Smith & Hawken, it was nice while it lasted: The Smith & Hawken website says it all- "Thank you for 30 wonderful years in the garden."
For those of us who knew S&H back when it was that neat little store in Mill Valley with the wonderful gardening tools, Wednesday was a sad day.
Read more:
For those of us who knew S&H back when it was that neat little store in Mill Valley with the wonderful gardening tools, Wednesday was a sad day.
Read more:
Tiburon Spy on it's residents?
Just came across this article:
The posh and picturesque town that juts into San Francisco Bay is poised to do something unprecedented: use cameras to record the license plate number of every vehicle that crosses city limits....
Situated on a peninsula, Tiburon's hillside homes and waterfront shops are accessible by only two roads, allowing police to point the special cameras known as license plate readers at every lane that leads into and out of the town of 8,800.
Here is the link to the article: Tiburon spy on license plates
The posh and picturesque town that juts into San Francisco Bay is poised to do something unprecedented: use cameras to record the license plate number of every vehicle that crosses city limits....
Situated on a peninsula, Tiburon's hillside homes and waterfront shops are accessible by only two roads, allowing police to point the special cameras known as license plate readers at every lane that leads into and out of the town of 8,800.
Here is the link to the article: Tiburon spy on license plates
What do you think?
Friday, June 26, 2009
Horrible news!!
My client's Floating Home burnt down last night!!!
After I heard the news I called Jim (my client) and he said he was going to call me to tell me "that he wanted to drop the listing price." But I had already heard the news.
My heart goes out to him. His home was crafted entirely by him, it was some of the most beautiful wood work you could imagine.
From the Marin IJ:
"Firefighters with the help of two fire boats were able to contain an explosive two-alarm blaze Thursday afternoon that gutted one houseboat and nearly destroyed another on the Sausalito waterfront.
Watch video of fire
There are more pictures of his home on my listing website:
www.48LibertyDock.com
There is going to be a benefit for Jim, my client. As soon as I know more, I'll post it here!
After I heard the news I called Jim (my client) and he said he was going to call me to tell me "that he wanted to drop the listing price." But I had already heard the news.
My heart goes out to him. His home was crafted entirely by him, it was some of the most beautiful wood work you could imagine.
From the Marin IJ:
"Firefighters with the help of two fire boats were able to contain an explosive two-alarm blaze Thursday afternoon that gutted one houseboat and nearly destroyed another on the Sausalito waterfront.
Fire crews who arrived near the end of Liberty Dock at Waldo Point Harbor at about noon found a big column of smoke rising from a two-story houseboat at 49 Liberty Dock that was fully engulfed in flames. Fire then shot over to the neighboring houseboat at 48 Liberty Dock....
News story Link w/pictures of fireWatch video of fire
There are more pictures of his home on my listing website:
www.48LibertyDock.com
There is going to be a benefit for Jim, my client. As soon as I know more, I'll post it here!
Thursday, June 25, 2009
June Marin Real Estate News
To see the entire newsletter for June on my website:
Below you will find a break down by city and price range of how many homes are in contract compared to how many homes are listed. Overall Marin is in a “Buyers Market” category, but this is a bit misleading. The very low end of the market (homes priced under $500,000) is actually in a “Strong Sellers” market, which tips the overall averages. The high end of the market (over $2,000,000) is in an Extreme Buyers market. I think if you took out the low end of the market (condo sales) the market would be in an overall “Strong Buyers” market.
In Novato multiple offers have been the norm. (as can be seen by the fact that Novato is now considered to be in a “Strong Sellers” category).
Keep in mind that these multiple offers and the sellers market is in the low end, where there have been numerous foreclosures and short sales. The Middle to high end of the Marin market is s still challenged, as there is a lot of inventory and it’s harder to get Jumbo loans. This is especially the case for homes priced over $2,000,000.
I’ve heard of some distressed sellers taking offers for as much as $500,000 off the asking price. Every sellers’ situation is different, so It’s important that your buyers agent investigate the reasons as to why the seller is selling. If I can help you devise a strategy, feel free to contact me: Liz@BayAreaREalEstateSales.com
For readers of my newsletter, I recently listed a property downtown Mill Valley. http://www.208cortemadera.com/ This home has never before been on the market. Within the first week of listing it, I received 3 offers on the house. I was very surprised to find that all 3 of the offers came in UNDER list price. We ended up countering the buyers and closed on the house just this week (a very quick escrow) for list price: $899,000. During the entire time I was in escrow I continued to receive multiple calls a week for showings and to find out how the escrow was going. This shows to me that for the right property (this was a great fixer within 2 blocks of downtown) that there is strong interest out there for homes priced under $1M.
Foreclosure activity, in the article/chart below: you’ll see that the number of Pre-foreclosures, Auction and Bank-owned property was about the same as in May overall. The number in pre-foreclosure did decrease. If you’d like to see the bank owned homes on a map, you can do a search here: Search the Map Based REO (Bank Owned) Homes in Marin Click Here
LIZ HAS BIG NEWS!!!
I’ve always felt that working for a locally owned Boutique brokerage was a benefit to my clients. In order to serve my clients even better, I have exciting news to announce! Vision Real Estate has merged with McGuire Real Estate.
This is from the recent press release: "This merger provides new opportunities for McGuire and its clients. With the addition of the Vision team, we are able to extend our presence in Southern Marin County. We waited for the right opportunity to partner with a technologically-savvy marketplace leader such as Vision," said Charles Moore, CEO of McGuire Real Estate.
This is from the recent press release: "This merger provides new opportunities for McGuire and its clients. With the addition of the Vision team, we are able to extend our presence in Southern Marin County. We waited for the right opportunity to partner with a technologically-savvy marketplace leader such as Vision," said Charles Moore, CEO of McGuire Real Estate.
LIZ McCARTHY LISTINGS
208 Corte Madera Ave, Mill Valley:
Mid-Century Classic just a few blocks from downtown Mill Valley. This 1950's home has never before been on the market. Update it to current mid-century modern standards or build your dream home nestled in the redwoods just around the corner from town with it's many parks, schools and quaint shops. This home has been well-loved for many years by its owners. The gardens all around the house feature many varieties of plants and flowers and are all on drip-irrigation.
This won’t last long!
Price: $899,000
SOLD $899,000 in 41 days with 3 offers!
This won’t last long!
Price: $899,000
SOLD $899,000 in 41 days with 3 offers!
27 Rutherford San Anselmo
This is what you have been waiting for - Fall in love with this sunny and bright 2 Bedroom, 2 Bathroom charming San Anselmo home. You'll find 1930's period details, an updated kitchen with marble counters and high-end stainless-steel appliances, hardwood floors and decorator colors. It is just up the street from one of San Anselmo's award wining elementary schools. It has a sunny deck for entertaining, a flat, grassy yard and a private drive with a locking gate. Ample storage and parking for more info and pictures. This won’t last long!!! This property is currently contingent, but we are awaiting bank approval for the short sale.
Don’t forget about Liz’s 3 other listings:
22755 S Central Ave, Sonoma
Wonderful horse/vineyard property located in convenient East Sonoma with so many amenities you have to see it in person: 5 private acres includes: Breath-taking vineyard views, an organic Chardonnay vineyard (located in prestigious Carneros Vineyard Region), gated property, custom spacious main house with 2 master bedroom suites + additional room/office (no closet), 2.5 bathrooms, granite kitchen and stainless appliances, pool, sauna and landscaped back-yard, detached guest house (1BR/1BA) with private driveway/garage, separate artist/studio/retreat, beautiful barn with 5 horse stalls, tack room, electricity and water, paddocks and turn outs, hay barn with trailer parking the property even has numerous redwood trees for peace and tranquility.
Price reduced again – Make any offer, very motivated Seller!!
Price: $1,199,000 (was originally $1,790,000!)
48 Liberty Dock
Enjoy the Waterfront lifestyle in this almost new Floating Home in Sausalito. Stunning Remodeled home with Amazing attention to detail. Custom wood-work makes this home shine. It features an open floor plan and a full-size kitchen with plenty of beautiful maple cabinets, granite counters, stainless appliances and even a hidden drawer dish-washer. Down the wood stairs are 2 bedrooms and a full-size bathroom. The granite and limestone bathroom features a gigantic soaking tub, and full size shower. The attention to detail and quality throughout this home is hard to match. Peaceful mountain and water views. Come enjoy the lifestyle of living on a Floating home! On a highly coveted dock in a premier deep water location. Only 10 minutes from SF.
WHAT DO LIZ'S CLIENT'S SAY?
"We contacted Liz McCarthy after doing much research on the agencies in the area. We were attracted by the small, boutique nature of her agency as well as the fact that she is e-Pro certified. We were gifted a home through the estate of an alumnus and needed someone who could work efficiently through electronic means. She did a superb job coordinating clean-up, advertising and negotiating in very unusual circumstances.
Liz provided timely advice, support, and communication that kept the selling process going forward. Every phone call was returned and feedback given after every showing. We were in contract within weeks of the listing and her negotiations got us top dollar. We appreciate all she has done for us and would not hesitate to refer her to anyone looking to sell their home in the Mill Valley area."
- The Ohio State University Foundation, Columbus, Ohio (June 2009)
Wednesday, April 15, 2009
April Marin Real Estate News
Home sales in Marin bounced off the low set in February, rising 44.3%. Year-over-year, home sales were off 14.6%. Year-to-date, home sales are down 21.3%.
The median price for single-family, re-sale homes reversed course again in March, rising 9.9% from February. Year-over-year, the median price is down 21.2%.
The following chart tracks each property sale from March and shows the percentage of the listing price the seller received compared to how many days the property was on the market.
The chart shows that properly priced homes sell quickly and for close to, if not more than, their asking pricing.
Condo sales were up 6.3% year-over-year. Year-to-date, condo sales are up 24%. The median price for condos in Marin County fell 7.8% from February, a drop of 48.2% compared to March 2008.
If you have any questions please call me at 415-250-4929 or drop me an email.
The real estate market is very hard to generalize. It is a market made up of many micro markets. For complete information on a particular neighborhood or for an evaluation of your home's worth, call me.
If I can help you devise a strategy, call or click the buyers or sellers link to the top.
The sales price to list price ratio fell 0.6 of a point to 93.3%. The number of days it took to put a home into escrow rose sixteen to 102 days in March
The median price for single-family, re-sale homes reversed course again in March, rising 9.9% from February. Year-over-year, the median price is down 21.2%.
The following chart tracks each property sale from March and shows the percentage of the listing price the seller received compared to how many days the property was on the market.
The chart shows that properly priced homes sell quickly and for close to, if not more than, their asking pricing.Condo sales were up 6.3% year-over-year. Year-to-date, condo sales are up 24%. The median price for condos in Marin County fell 7.8% from February, a drop of 48.2% compared to March 2008.
If you have any questions please call me at 415-250-4929 or drop me an email.
The real estate market is very hard to generalize. It is a market made up of many micro markets. For complete information on a particular neighborhood or for an evaluation of your home's worth, call me.
If I can help you devise a strategy, call or click the buyers or sellers link to the top.
The sales price to list price ratio fell 0.6 of a point to 93.3%. The number of days it took to put a home into escrow rose sixteen to 102 days in March
FORECLOSURES/BANK OWNED AND AUCTION PROPERTIES AS OF 4/24/09
I get asked all the time to look for deals, as buyers want to purchase a "Foreclosed Property" or are looking for homes that are 50% of their value (as many parts of the country have had dramatic price reductions). As I've mentioned, in my many newsletters, Marin is made of of many Micro areas where home values have clearly not dropped like they have in other parts of the state/country. Yes, our prices oure down. But if you are looking for a "Foreclosure deal" be prepared that so is everyone else!
Now, let’s get into the detail on these homes and others that are on the MLS. The majority of the bank owned properties are listed on the MLS as the banks hire local real estate agents to sell the properties. In addition to these 266 bank owned there are also approximately 500 additional homes on the MLS being marketed along with these bank owned. These distressed properties will pull down the sales price for any home in the neighborhood.
To see the List of Marin Foreclosures chart click here:
Thursday, March 12, 2009
Amazing Horse Property in Sonoma
This property just had a HUGE price reduction as it's entered into a short sale. What a deal now, 5 acres of land in Sonoma with 2 houses, a pool, almost an acre of Organic Chardonnay vineyards, horse barn with 5 stalls, hay barn, and an additional building for an art studio or other activities.
Original price: $1,795,000
Now: $1,295,000!
Wonderful horse/vineyard property located in convenient East Sonoma with so many amenities you have to see it in person: 5 private acres includes: Breath-taking vineyard views, an organic Chardonnay vineyard (located in prestigious Carneros Vineyard Region), gated property, custom spacious main house with 2 master bedroom suites + additional room/office (no closet), 2.5 bathrooms, granite kitchen and stainless appliances, pool, sauna and landscaped back-yard, detached guest house (1BR/1BA) with private driveway/garage, separate artist/studio/retreat, beautiful barn with 5 horse stalls, tack room, electricity and water, paddocks and turn outs, hay barn with trailer parking the property even has numerous redwood trees for peace and tranquility.
For more info go to:
If you would like to see this Property in person contact:
Liz McCarthy
Marin and Sonoma Real Estate
415-250-4929
2 New Floating Homes
I have 2 fabulous Sausalito Floating Homes that have both just been listed. Are you looking for a once in a life time opportunity to live directly on the San Francisco Bay?
No similarly priced condo could ever match the opportunity of living on the water.
Here are more details:
48 Liberty Dock
Price: $679,000
2 bedrooms
1.5 bathrooms
This Floating home is practically new. It's been remodeled from top to bottom with impeccable attention to detail.
Enjoy the Waterfront lifestyle in this almost new Floating Home in Sausalito. Stunning Remodeled home with Amazing attention to detail. Custom wood-work makes this home shine. It features an open floor plan and a full-size kitchen with plenty of beautiful maple cabinets, granite counters, stainless appliances and even a hidden drawer dish-washer. Down the wood stairs are 2 bedrooms and a full-size bathroom. The granite and limestone bathroom features a gigantic soaking tub, and full size shower. The attention to detail and quality throughout this home is hard to match. Peaceful mountain and water views. Come enjoy the lifestyle of living on a Floating home! On a highly coveted dock in a premier deep water location. Only 10 minutes from SF.
More details and pictures: http://www.48libertydock.com/
47 Liberty DockPrice $549,000
2 bedrooms
1 bathroom
More info, video and pictures:
Tranquility, Sunshine, Great Neighbors, Stunning Views & only 10 minutes from San Francisco. One of Sausalito's finest internationally renowned Floating Home communities, this contemporary jewel is bright and sunny with an open floor plan and amazing views of Mt Tam and the Lagoon. On a highly coveted dock in a premier deep water corner berth. Kitchen newly updated with granite counters & new cabinets. Bathroom newly updated with custom vanity, concrete counters, bidet toilet and glass tiles. Brand new Brazilian Cherry wide plank hardwood floors throughout. A special old-fashioned neighborhood where people are happy and say hello. No similarly priced condo can match this enchanted waterfront home. Live the seaside dream.
If this isn't the Floating Home you are looking for, you can view all the listed floating homes for sale here:
Liz McCarthy, Real Estate Broker:
415-250-4929
Wednesday, October 29, 2008
October 2008 Marin Real Estate News
Sales of single-family, re-sale homes rose 36.1% year-over-year. Year-to-date, home sales are down 21.6%.
Prices dropped last month with the median price down 3.6% from August, and it was off 16.3% compared to last September. The average price lost 2.5%, a year-over-year decline of 20.7%.
Condo sales were strong last month, up 145.5% year-over-year. The median price for condos in Marin County fell 16.1% from August, a drop of 49.4% compared to September 2007.
Monthly Statistics
Complete monthly sales statistics for Marin County are below. Monthly graphs are available for each city in the county.
Read the entire newsletter here:
October 2008 Marin Real Estate News
Prices dropped last month with the median price down 3.6% from August, and it was off 16.3% compared to last September. The average price lost 2.5%, a year-over-year decline of 20.7%.
Condo sales were strong last month, up 145.5% year-over-year. The median price for condos in Marin County fell 16.1% from August, a drop of 49.4% compared to September 2007.
Monthly Statistics
Complete monthly sales statistics for Marin County are below. Monthly graphs are available for each city in the county.
Read the entire newsletter here:
October 2008 Marin Real Estate News
Saturday, December 15, 2007
December 2007 Newsletter
I hope this holiday season finds you and your family healthy and happy.
November sales of existing single-family homes in the nine-county region plummeted 39.4 percent, from 5,308 last year to 3,217 this year.
A major reason sales are sluggish despite falling prices in many regions is that it remains difficult to qualify for or afford jumbo loans, still necessary for average home shoppers in the pricey Bay Area. Since summer, when credit rules started getting stricter, fewer lenders are offering financing for more than the $417,000 conforming amount, and those that do are charging more or tightening lending standards. Buyers used jumbo loans for 44.1 percent of home purchases last month, compared with an average of 62 percent for the first seven months of the year, DataQuick said.
In Marin the story is slightly more robust than the majority of the SF Bay area, which is typical of our area which is a bit insulated from the downturn. Single Family Home sales for November in the 13 main cities that we track.
The same story this month as the last where Novato and San Rafael are the hardest hit areas relative to the rest of Marin. Condominiums in Novato have taken a 15-20 percent decline during 2007 and Single family homes about 10=12%. If you do not have to sell because of relocation or financial issues my recommendation is to hold on for the next 6 months.
I have not calculated the average days on market for this summary for one reason and one reason alone. The average days on market (DOM) per the Marin Multiple Listing Service (BAREIS) is NOT calculated correctly. It does not take into account a property that has been on the market with multiple brokers and those that have been removed for 30 days and then relisted. Once this is done it starts the days on market to ZERO. I will be doing an individual report on the actual DOM per community but it is very time intensive as the only way to accurately calculate the number is to look at the property history on each individual property. Since we have 659 single family homes on the market that will take a while. I promise to get you that information for the yearend report.
The median price for single-family, re-sale homes in Marin County was up 7.5% in November compared to last year. The average price was up 10.3%.
Home sales were flat in November at 137 units. Year-over-year, home sales were off 20.8%. Year-to-date, home sales are down 6.9%.
The median price for condos gained 6.0% to $600,000 from October, and it was up 20%, year-over-year. The average price rose 20.7% to $779,309, setting a new record high. Year-over-year, the average price was up 35.2%. Condo sales were up 16.7% from October, but were off 22.2% year-over-year. Year-to-date, condo sales are down 19.4%.
To read the entire newsletter go to: December newsletter
November sales of existing single-family homes in the nine-county region plummeted 39.4 percent, from 5,308 last year to 3,217 this year.
A major reason sales are sluggish despite falling prices in many regions is that it remains difficult to qualify for or afford jumbo loans, still necessary for average home shoppers in the pricey Bay Area. Since summer, when credit rules started getting stricter, fewer lenders are offering financing for more than the $417,000 conforming amount, and those that do are charging more or tightening lending standards. Buyers used jumbo loans for 44.1 percent of home purchases last month, compared with an average of 62 percent for the first seven months of the year, DataQuick said.
In Marin the story is slightly more robust than the majority of the SF Bay area, which is typical of our area which is a bit insulated from the downturn. Single Family Home sales for November in the 13 main cities that we track.
The same story this month as the last where Novato and San Rafael are the hardest hit areas relative to the rest of Marin. Condominiums in Novato have taken a 15-20 percent decline during 2007 and Single family homes about 10=12%. If you do not have to sell because of relocation or financial issues my recommendation is to hold on for the next 6 months.
I have not calculated the average days on market for this summary for one reason and one reason alone. The average days on market (DOM) per the Marin Multiple Listing Service (BAREIS) is NOT calculated correctly. It does not take into account a property that has been on the market with multiple brokers and those that have been removed for 30 days and then relisted. Once this is done it starts the days on market to ZERO. I will be doing an individual report on the actual DOM per community but it is very time intensive as the only way to accurately calculate the number is to look at the property history on each individual property. Since we have 659 single family homes on the market that will take a while. I promise to get you that information for the yearend report.
The median price for single-family, re-sale homes in Marin County was up 7.5% in November compared to last year. The average price was up 10.3%.
Home sales were flat in November at 137 units. Year-over-year, home sales were off 20.8%. Year-to-date, home sales are down 6.9%.
The median price for condos gained 6.0% to $600,000 from October, and it was up 20%, year-over-year. The average price rose 20.7% to $779,309, setting a new record high. Year-over-year, the average price was up 35.2%. Condo sales were up 16.7% from October, but were off 22.2% year-over-year. Year-to-date, condo sales are down 19.4%.
To read the entire newsletter go to: December newsletter
Thursday, November 15, 2007
November Marin Real Estate News
MARIN HOME SALES STATISTICS
Recent homes sales even though increasing from prior months are still dismal compared to what we have seen in the 5 previous years. There are thirteen towns in the county that we track and all of them are not showing signs of robust home sales. Sales for October in all of the 13 cities and the Total number of homes listed for sale are as follows:
The number of homes on the market in San Rafael and Novato account for 53% of the total homes actively being markets for sale. The activities in these two areas are extremely low with the percent in contract at 24% for San Rafael and 15.6% for Novato. The Novato percent in contract is one of the lowest I have seen in 5 years. This accounts for some of the turmoil in the Novato market.
On a general note in Marin County, the widening of 101 will be complete in 2008, adding four lanes from the Golden Gate Bridge to Novato. Once this is complete it will open up lots of the congestion on the freeway that is being experienced due to the construction. Many buyers might rethink buying in outlying areas such as Novato if the commute is appreciably easier. Only time will tell.
Home sales bounced back in October from a dismal September, due to the panic in the credit markets. Sales of single-family, re-sale homes rose 26.9% from the month before, but were down 32.5% year-over-year. Year-to-date, home sales are down 5.6%.
The median price for single-family, re-sale homes in Marin County rose 0.7% in October, compared to the month before, up 7.7% year-over-year. The average price fell 10.8% from the new record set in September. Year-over-year, the average price was up 14.1%.
The median price for condos lost 10.6% to $565,000, again, after setting a new record the month before, and it was up 3%, year-over-year. The average price fell 8.3% to $645,813, up 10.5% compared to October 2006. Condo sales were up 36.4% from September, and off 38.8% year-over-year. Year-to-date, condo sales are down 19.1%.
Read the entire newsletter: November Newsletter
Recent homes sales even though increasing from prior months are still dismal compared to what we have seen in the 5 previous years. There are thirteen towns in the county that we track and all of them are not showing signs of robust home sales. Sales for October in all of the 13 cities and the Total number of homes listed for sale are as follows:
The number of homes on the market in San Rafael and Novato account for 53% of the total homes actively being markets for sale. The activities in these two areas are extremely low with the percent in contract at 24% for San Rafael and 15.6% for Novato. The Novato percent in contract is one of the lowest I have seen in 5 years. This accounts for some of the turmoil in the Novato market.
On a general note in Marin County, the widening of 101 will be complete in 2008, adding four lanes from the Golden Gate Bridge to Novato. Once this is complete it will open up lots of the congestion on the freeway that is being experienced due to the construction. Many buyers might rethink buying in outlying areas such as Novato if the commute is appreciably easier. Only time will tell.
Home sales bounced back in October from a dismal September, due to the panic in the credit markets. Sales of single-family, re-sale homes rose 26.9% from the month before, but were down 32.5% year-over-year. Year-to-date, home sales are down 5.6%.
The median price for single-family, re-sale homes in Marin County rose 0.7% in October, compared to the month before, up 7.7% year-over-year. The average price fell 10.8% from the new record set in September. Year-over-year, the average price was up 14.1%.
The median price for condos lost 10.6% to $565,000, again, after setting a new record the month before, and it was up 3%, year-over-year. The average price fell 8.3% to $645,813, up 10.5% compared to October 2006. Condo sales were up 36.4% from September, and off 38.8% year-over-year. Year-to-date, condo sales are down 19.1%.
Read the entire newsletter: November Newsletter
Monday, October 15, 2007
October Marin Real Estate News
As expected, the credit crunch had a big impact on sales last month. Sales of single-family, re-sale homes fell 39.3% from the month before, and were off 33.3% year-over-year. Year-to-date, home sales are down 2.2%. We expect sales to be slow this month, then start to recover at the end of the quarter as the credit crunch is alleviated.
The median price for single-family, re-sale homes in Marin County fell 3.3% in September, compared to the month before, up 14% year-over-year. The average price rose 7.8% to set a new record, and was up 22.6% year-over-year.
The median price for condos soared 29% to $632,000, a new record, and was up 14.8%, year-over-year. The average price rose 11.2% to $704,114, up 18.4% compared to September 2006. With only 22 condos sold last month, these prices are certainly anomalous. Condo sales were down 52.2% from August, and off 60.7% year-over-year. Year-to-date, condo sales are off 17.1%.
Prices have not really declined here in Marin. What has declined is the number of sales as well as the percentage of homes under contract. As you can see from the numbers the average sales price has increased over the prior month as well as the prior year. The strongest segment of the market is the "luxury Market" those homes over $2 million. Buyers are still making offers on good properties.
The percentage of listed home in contract, "Pending listed ratio" is a good indication of the strength of each market. Anything between a 20%-25% ratio bodes a balanced market where we have an equal number of buyers and sellers. Anything less than 20% is pushing towards a buyer's market. As you can see from the numbers Marin is in a Buyer's market (see chart below), and has been there for at least the past 6 months. It is important to keep in mind that real estate in Marin is location specific, and you will need to drill down to each market segment before you draw a broad conclusion as some areas continue to have strength especially those towns in southern Marin with good school districts.
Buyers right now have the upper hand but if rates continue to move downward and the credit markets stabilize then the market will become more competitive for buyers. If you are pre-approved for a loan and are ready to make an offer now is as good a time as any to step in and test the waters.
Although the credit crunch is having an effect on home sales, there is money available at reasonable rates from portfolio lenders. These are lenders that loan their own money and do not bundle up the loans for re-sale on Wall Street. Some examples are ING, local credit unions, and some small local business banks. Also, Countrywide, and some of the bigger banks, are planning to keep more of their loans in-house.
The real estate market is very hard to generalize. It is a market made up of many micro markets. For complete information on a particular neighborhood or for an evaluation of your home's worth, call me.
If I can help you devise a strategy, call or click the buying or selling link in the menu to the left.
Monthly Statistics
Complete monthly sales statistics for Marin County are on my website. Monthly graphs are available for each city in the county. Just email me!
Read the entire October Marin Real Estate Newsletter October Newsletter
The median price for single-family, re-sale homes in Marin County fell 3.3% in September, compared to the month before, up 14% year-over-year. The average price rose 7.8% to set a new record, and was up 22.6% year-over-year.
The median price for condos soared 29% to $632,000, a new record, and was up 14.8%, year-over-year. The average price rose 11.2% to $704,114, up 18.4% compared to September 2006. With only 22 condos sold last month, these prices are certainly anomalous. Condo sales were down 52.2% from August, and off 60.7% year-over-year. Year-to-date, condo sales are off 17.1%.
Prices have not really declined here in Marin. What has declined is the number of sales as well as the percentage of homes under contract. As you can see from the numbers the average sales price has increased over the prior month as well as the prior year. The strongest segment of the market is the "luxury Market" those homes over $2 million. Buyers are still making offers on good properties.
The percentage of listed home in contract, "Pending listed ratio" is a good indication of the strength of each market. Anything between a 20%-25% ratio bodes a balanced market where we have an equal number of buyers and sellers. Anything less than 20% is pushing towards a buyer's market. As you can see from the numbers Marin is in a Buyer's market (see chart below), and has been there for at least the past 6 months. It is important to keep in mind that real estate in Marin is location specific, and you will need to drill down to each market segment before you draw a broad conclusion as some areas continue to have strength especially those towns in southern Marin with good school districts.
Buyers right now have the upper hand but if rates continue to move downward and the credit markets stabilize then the market will become more competitive for buyers. If you are pre-approved for a loan and are ready to make an offer now is as good a time as any to step in and test the waters.
Although the credit crunch is having an effect on home sales, there is money available at reasonable rates from portfolio lenders. These are lenders that loan their own money and do not bundle up the loans for re-sale on Wall Street. Some examples are ING, local credit unions, and some small local business banks. Also, Countrywide, and some of the bigger banks, are planning to keep more of their loans in-house.
The real estate market is very hard to generalize. It is a market made up of many micro markets. For complete information on a particular neighborhood or for an evaluation of your home's worth, call me.
If I can help you devise a strategy, call or click the buying or selling link in the menu to the left.
Monthly Statistics
Complete monthly sales statistics for Marin County are on my website. Monthly graphs are available for each city in the county. Just email me!
Read the entire October Marin Real Estate Newsletter October Newsletter
Saturday, September 15, 2007
September Marin Real Estate News
As always, it’s important to view the individual city and price range stats – see the chart below for more details.
For the first time the overall Marin Home Sales market is in a “Strong Buyers” Market.
The median price for single-family, re-sale homes in Marin County rose 6.6% in August, compared to the month before, up 8% year-over-year. The average price rose 2.5%, up 14.2% year-over-year.
Sales of single-family homes were down 12.3% from July, and were off 26.4% year-over-year. Year-to-date, home sales are up 1.2%. Marin is the only county in the Bay Area with higher home sales this year than last.
The median price for condos fell 16.9% to $490,000, a year-over-year drop of 10.7%. The average price lost 6.4% to $633,204, up 6.4% compared to August 2006. Condo sales rose 2.2% from July, but were down 14.8% year-over-year. Year-to-date, condo sales are off 11.4%.
August is a vacation month and home sales typically are slower than in other months. The activity since Labor Day shows that buyer's are in the market.
As you can see from the summary numbers in the report, median prices rose but the number of units sold are down over 26% from the prior year. This is a sign of uncertainty. Many sellers have pulled their homes off the market and are waiting for the market to stabilize. Many buyers are having an issue with the increased mortgage rates and are waiting for the Fed to lower the discount rate. I will give everyone an update at the end of the month. As always, drop me an email with any questions or call me at 415-250-4929.
I’m always searching for ways to bring my clients and readers more local real estate statistics. I’m pleased to announce the launch of my new Marin home Sales Statistics page. To view, go to: Marin Real Estate Statistics.
If you know of anyone who would like to receive this monthly newsletter or is thinking of either buying or selling a home please let me know. I’d love your referrals!
MARIN HOME SALES DROP, BUT MEDIAN PRICE IS UP
Marin's median home price hit the $1 million mark again last month, but sales of homes slid more than 32 percent compared with this time last year, a real estate research firm reported Thursday.
August's median price for single-family homes rose 8.7 percent from August 2006, when the median price was $920,000. The median price for condominiums in Marin last month - $520,000 - dropped 4.8 percent from $546,500 in August 2006.
The rise in the median - which has hit the $1 million mark three times this year - combined with the decline in volume signals a stable luxury market making up for the lagging low end that has been most affected by the mortgage meltdown, analysts said.
Yet to fully play out is the impact tighter lending practices, including restrictions this summer on jumbo loans over $417,000, have had on markets such as Marin, DataQuick analyst Andrew LePage said.
In Marin, 76.9 percent of borrowers took out jumbo loans in August. In the last week of the month, that number dropped to 69.1 percent, LePage said. "You can say that the jumbo situation had some impact on sales," he said. "It was not a large one - it was noticeable in the last week of the month. What's unclear is if this is the beginning of a trend."
Bay Area homes sold at the slowest pace in 15 years last month as market uncertainty intensified, forcing more buyers, sellers and lenders to the sidelines. Prices remained flat at the regional level but there were local variations, a real estate information service reported.
A total of 7,299 new and resale houses and condos were sold in the nine-county Bay Area in August. That was down 1.7 percent from 7,423 in July, and down 24.9 percent from 9,713 for August a year ago, according to DataQuick Information Systems.
Sales have decreased on a year-over-year basis the last 31 months. Sales last month were the lowest for any August since 1992 when 6,688 homes were sold. The strongest August in DataQuick's statistics, which go back to 1988, was in 2004 when 13,940 homes were sold. The August average is 10,170.
"Homes in the Bay Area are more expensive than elsewhere and most of them are financed with 'jumbo' mortgages. The turbulence in the mortgage markets has made it more difficult to get this type of financing. The question is: does this pull the plug on some market activity, or does it just slow things down? We won't know the answer for a few months," said Marshall Prentice, DataQuick president.
The median price paid for a Bay Area home was $655,000 last month. That was down 1.5 percent from the June and July peak of $665,000, and up 4.0 percent from $630,000 for August a year ago. The median was down in Solano, Sonoma and Napa counties and flat or up in the other counties.
Foreclosure resales accounted for 4.8 percent of August's sales activity, up from 4.5 percent in July, and up from 1.2 percent in August of last year. Foreclosure resales do not yet have a regional effect on prices.
Other indicators of market distress continue to move in different directions. Financing with adjustable-rate mortgages is flat, financing with multiple mortgages has declined significantly. Down payment sizes are stable, flipping rates and non-owner occupied buying activity is flat, DataQuick reported.
To read the entire September newsletter go to: September Real Estate Newsletter
Find out more great info on Marin Real Estate: www.bayarearealestatesales.com
For the first time the overall Marin Home Sales market is in a “Strong Buyers” Market.
The median price for single-family, re-sale homes in Marin County rose 6.6% in August, compared to the month before, up 8% year-over-year. The average price rose 2.5%, up 14.2% year-over-year.
Sales of single-family homes were down 12.3% from July, and were off 26.4% year-over-year. Year-to-date, home sales are up 1.2%. Marin is the only county in the Bay Area with higher home sales this year than last.
The median price for condos fell 16.9% to $490,000, a year-over-year drop of 10.7%. The average price lost 6.4% to $633,204, up 6.4% compared to August 2006. Condo sales rose 2.2% from July, but were down 14.8% year-over-year. Year-to-date, condo sales are off 11.4%.
August is a vacation month and home sales typically are slower than in other months. The activity since Labor Day shows that buyer's are in the market.
As you can see from the summary numbers in the report, median prices rose but the number of units sold are down over 26% from the prior year. This is a sign of uncertainty. Many sellers have pulled their homes off the market and are waiting for the market to stabilize. Many buyers are having an issue with the increased mortgage rates and are waiting for the Fed to lower the discount rate. I will give everyone an update at the end of the month. As always, drop me an email with any questions or call me at 415-250-4929.
I’m always searching for ways to bring my clients and readers more local real estate statistics. I’m pleased to announce the launch of my new Marin home Sales Statistics page. To view, go to: Marin Real Estate Statistics.
If you know of anyone who would like to receive this monthly newsletter or is thinking of either buying or selling a home please let me know. I’d love your referrals!
MARIN HOME SALES DROP, BUT MEDIAN PRICE IS UP
Marin's median home price hit the $1 million mark again last month, but sales of homes slid more than 32 percent compared with this time last year, a real estate research firm reported Thursday.
August's median price for single-family homes rose 8.7 percent from August 2006, when the median price was $920,000. The median price for condominiums in Marin last month - $520,000 - dropped 4.8 percent from $546,500 in August 2006.
The rise in the median - which has hit the $1 million mark three times this year - combined with the decline in volume signals a stable luxury market making up for the lagging low end that has been most affected by the mortgage meltdown, analysts said.
Yet to fully play out is the impact tighter lending practices, including restrictions this summer on jumbo loans over $417,000, have had on markets such as Marin, DataQuick analyst Andrew LePage said.
In Marin, 76.9 percent of borrowers took out jumbo loans in August. In the last week of the month, that number dropped to 69.1 percent, LePage said. "You can say that the jumbo situation had some impact on sales," he said. "It was not a large one - it was noticeable in the last week of the month. What's unclear is if this is the beginning of a trend."
Bay Area homes sold at the slowest pace in 15 years last month as market uncertainty intensified, forcing more buyers, sellers and lenders to the sidelines. Prices remained flat at the regional level but there were local variations, a real estate information service reported.
A total of 7,299 new and resale houses and condos were sold in the nine-county Bay Area in August. That was down 1.7 percent from 7,423 in July, and down 24.9 percent from 9,713 for August a year ago, according to DataQuick Information Systems.
Sales have decreased on a year-over-year basis the last 31 months. Sales last month were the lowest for any August since 1992 when 6,688 homes were sold. The strongest August in DataQuick's statistics, which go back to 1988, was in 2004 when 13,940 homes were sold. The August average is 10,170.
"Homes in the Bay Area are more expensive than elsewhere and most of them are financed with 'jumbo' mortgages. The turbulence in the mortgage markets has made it more difficult to get this type of financing. The question is: does this pull the plug on some market activity, or does it just slow things down? We won't know the answer for a few months," said Marshall Prentice, DataQuick president.
The median price paid for a Bay Area home was $655,000 last month. That was down 1.5 percent from the June and July peak of $665,000, and up 4.0 percent from $630,000 for August a year ago. The median was down in Solano, Sonoma and Napa counties and flat or up in the other counties.
Foreclosure resales accounted for 4.8 percent of August's sales activity, up from 4.5 percent in July, and up from 1.2 percent in August of last year. Foreclosure resales do not yet have a regional effect on prices.
Other indicators of market distress continue to move in different directions. Financing with adjustable-rate mortgages is flat, financing with multiple mortgages has declined significantly. Down payment sizes are stable, flipping rates and non-owner occupied buying activity is flat, DataQuick reported.
To read the entire September newsletter go to: September Real Estate Newsletter
Find out more great info on Marin Real Estate: www.bayarearealestatesales.com
Sunday, July 15, 2007
July Marin Real Estate News
Home prices are continuing the move upward and sales volume is moving slightly lower as buyers are being very particular on what they will buy in this environment. There are some areas that are holding up quite well under any perceived pressure for lower prices, those being Larkspur, Greenbrae, Mill Valley and Corte Madera. We have seen some record prices for homes sold in Corte Madera in the last month. 7 Grace Court sold for $3.3 Million; a wonderful 5 Bedroom 3 bath home on one half acre built in 2002. This was the second highest sale since a $3.6 Million home on Verona Place sold in May 2007.
The chart below shows a combination of Single Family Residences combined with condos. As the condo market has slowed down dramatically, it shows the overall market as a buyers market. When you break out the Single Family Residences, however, the market is closer to a balanced market.
As of July 11 there were 967 Single Family Homes on the market. Of those 252 are in contract which is 26% of the total. That leaves 715 homes on the market and available for buyers to enter into contracts. This overall calculates as a balanced/Buyers market. If you look at City by City you can see that Mill Valley is at 37%, Corte Madera at 52% and Greenbrae at 42%. Some of the lagging communities in % in contract are San Rafael at 24%, Sausalito at 25% and Novato at 23%. Remember that real estate in Marin is Community specific so you must look at the details to ascertain the Real Estate heath of each community.
The median price for single-family, re-sale homes in Marin County rose 12.1% in June, compared to the month before, and set a new record of $1,160,000. This is 7.9% higher than last June. The average price gained 0.2%, up 0.8% year-over-year.
Sales of single-family homes were down 7.1% from May, off 9% year-over-year. Year-to-date, home sales are outpacing last year's rate. Marin is the only county in the Bay Area with higher home sales this year than last.
The median price for condos rose 1.8% to $595,000, a year-over-year gain of 2.2%. The average price gained 1.5% to $644,772, down 0.2% compared to June 2006. Condo sales dropped 1.7% from May, and were down 3.3% year-over-year.
As always, it's important to view the individual city and price range stats - see the chart below for more details.
To see the entire newsletter go to: July Marin Real Estate News
The chart below shows a combination of Single Family Residences combined with condos. As the condo market has slowed down dramatically, it shows the overall market as a buyers market. When you break out the Single Family Residences, however, the market is closer to a balanced market.
As of July 11 there were 967 Single Family Homes on the market. Of those 252 are in contract which is 26% of the total. That leaves 715 homes on the market and available for buyers to enter into contracts. This overall calculates as a balanced/Buyers market. If you look at City by City you can see that Mill Valley is at 37%, Corte Madera at 52% and Greenbrae at 42%. Some of the lagging communities in % in contract are San Rafael at 24%, Sausalito at 25% and Novato at 23%. Remember that real estate in Marin is Community specific so you must look at the details to ascertain the Real Estate heath of each community.
The median price for single-family, re-sale homes in Marin County rose 12.1% in June, compared to the month before, and set a new record of $1,160,000. This is 7.9% higher than last June. The average price gained 0.2%, up 0.8% year-over-year.
Sales of single-family homes were down 7.1% from May, off 9% year-over-year. Year-to-date, home sales are outpacing last year's rate. Marin is the only county in the Bay Area with higher home sales this year than last.
The median price for condos rose 1.8% to $595,000, a year-over-year gain of 2.2%. The average price gained 1.5% to $644,772, down 0.2% compared to June 2006. Condo sales dropped 1.7% from May, and were down 3.3% year-over-year.
As always, it's important to view the individual city and price range stats - see the chart below for more details.
To see the entire newsletter go to: July Marin Real Estate News
Friday, June 15, 2007
June Marin Real Estate News
It’s hard to believe that the year is just about half over. Summer solstice (the longest day-light day of the year) was just last week. I hope that you and your family are having a wonderful 2007 so far and are enjoying the start of summer.
The median price for single-family, re-sale homes in Marin County fell 0.2% in May from the record set in April. This is 10.1% higher than last May. The average price fell 4.2% from April, up 15.4% year-over-year. Sales of single-family homes were up 13.2% from April, an increase of 16.5% year-over-year.
The median price for condos rose 6.4% to $584,500, a year-over-year gain of 9.8%. The average price gained 7.4% to $635,377, up 4.5% compared to May 2006. Condo sales were up 42.9% from April, and were up 3.4% year-over-year.
These statistics show how many homes are available for sale in Marin, and of those how many are currently in contract (either pending or contingent. For the 9th month in a row, the Marin overall real estate market is in a “Buyers Market.”
As always, it’s important to view the individual city and price range stats for more details:
Although the overall market shows that it’s a “Buyers Market’: Fairfax and Greenbrae are in a “Sellers Market,” and Larkspur and Mll Valley are in a “Balanced Market.” The remainder Marin towns are all in varying levels of “Buyers Markets.” It is very interesting that homes priced from $750,000 to $1.5M are all hovering very close to a Balanced Market.
My take on the current market: The real estate market is very hard to generalize. It is a market made up of many micro markets. For complete information on a particular neighborhood or for an evaluation of your home's worth, call me.
If I can help you devise a strategy, just let me know.
I think that the general consensus among agents currently is that there is a lack of inventory. Interest rates have been very good and there are buyers ready to purchase homes, but there is still a lack of homes that are finished and priced correctly. Multiple offers are becoming commonplace again, especially in popular walk-to-town areas like: Mill valley, Larkspur, Fairfax San Anselmo and San Rafael.
If you are looking to purchase a home, it’s important that you be ready with a pre-approval letter so that you can be ready if the home that fits your requirements comes on the market. Buyers once again have to forgo some of their “must-haves” and make compromises for what they are looking for.
MY ADVICE?
For buyers, the same as last month: prime property is selling quickly and, in many instances, with multiple offers. Buyers need to be prepared to make an offer immediately on prime property. That means you need to have a loan in place. For more information about buying in a multiple offer situation, call me.
For sellers, where your home is, the condition and what segment of the market it's in, entry-level, move-up or million plus, are the determining factors in whether or not you will be able to sell your home quickly and for a good price. Demand in the entry-level market has fallen, which will impact the move-up market. The million dollar plus market is pretty much immune to the sub-prime mortgage tightening.
The real estate market is very hard to generalize. It is a market made up of many micro markets. For complete information on a particular neighborhood or for an evaluation of your home's worth, call me. If I can help you devise a strategy, call or click the buying or selling link in the menu above.
I’m always searching for ways to bring my clients and readers more local real estate statistics. I’m pleased to announce the launch of my new Marin home Sales Statistics page. To view, go to: Marin Real Estate Statistics.
If you know of anyone who would like to receive this monthly newsletter or is thinking of either buying or selling a home please let me know. I’d love your referrals!
To read the entire June Marin Real Estate Newsletter, go to: June Marin Real Estate News
The median price for single-family, re-sale homes in Marin County fell 0.2% in May from the record set in April. This is 10.1% higher than last May. The average price fell 4.2% from April, up 15.4% year-over-year. Sales of single-family homes were up 13.2% from April, an increase of 16.5% year-over-year.
The median price for condos rose 6.4% to $584,500, a year-over-year gain of 9.8%. The average price gained 7.4% to $635,377, up 4.5% compared to May 2006. Condo sales were up 42.9% from April, and were up 3.4% year-over-year.
These statistics show how many homes are available for sale in Marin, and of those how many are currently in contract (either pending or contingent. For the 9th month in a row, the Marin overall real estate market is in a “Buyers Market.”
As always, it’s important to view the individual city and price range stats for more details:
Although the overall market shows that it’s a “Buyers Market’: Fairfax and Greenbrae are in a “Sellers Market,” and Larkspur and Mll Valley are in a “Balanced Market.” The remainder Marin towns are all in varying levels of “Buyers Markets.” It is very interesting that homes priced from $750,000 to $1.5M are all hovering very close to a Balanced Market.
My take on the current market: The real estate market is very hard to generalize. It is a market made up of many micro markets. For complete information on a particular neighborhood or for an evaluation of your home's worth, call me.
If I can help you devise a strategy, just let me know.
I think that the general consensus among agents currently is that there is a lack of inventory. Interest rates have been very good and there are buyers ready to purchase homes, but there is still a lack of homes that are finished and priced correctly. Multiple offers are becoming commonplace again, especially in popular walk-to-town areas like: Mill valley, Larkspur, Fairfax San Anselmo and San Rafael.
If you are looking to purchase a home, it’s important that you be ready with a pre-approval letter so that you can be ready if the home that fits your requirements comes on the market. Buyers once again have to forgo some of their “must-haves” and make compromises for what they are looking for.
MY ADVICE?
For buyers, the same as last month: prime property is selling quickly and, in many instances, with multiple offers. Buyers need to be prepared to make an offer immediately on prime property. That means you need to have a loan in place. For more information about buying in a multiple offer situation, call me.
For sellers, where your home is, the condition and what segment of the market it's in, entry-level, move-up or million plus, are the determining factors in whether or not you will be able to sell your home quickly and for a good price. Demand in the entry-level market has fallen, which will impact the move-up market. The million dollar plus market is pretty much immune to the sub-prime mortgage tightening.
The real estate market is very hard to generalize. It is a market made up of many micro markets. For complete information on a particular neighborhood or for an evaluation of your home's worth, call me. If I can help you devise a strategy, call or click the buying or selling link in the menu above.
I’m always searching for ways to bring my clients and readers more local real estate statistics. I’m pleased to announce the launch of my new Marin home Sales Statistics page. To view, go to: Marin Real Estate Statistics.
If you know of anyone who would like to receive this monthly newsletter or is thinking of either buying or selling a home please let me know. I’d love your referrals!
To read the entire June Marin Real Estate Newsletter, go to: June Marin Real Estate News
Tuesday, May 15, 2007
May Marin Real Estate News
The median price for single-family, re-sale homes in Marin County rose 8% in April, compared to the month before, and set a new record of $1,080,000. This is 9.6% higher than last April. The average price gained 7.4%, up 10% year-over-year.
Sales of single-family homes were up 22.5% from March, up 9.3% year-over-year.
The median price for condos fell 8.9% to $549,500, a year-over-year gain of 0.9%. The average price fell 7.6% to $591,536, down 5.8% compared to April 2006. Condo sales dropped 23.6% from March, and were down 30% year-over-year.
These statistics show how many homes are available for sale in Marin, and of those how many are currently in contract (either pending or contingent. For the 8th month in a row, the Marin overall real estate market is in a "Buyers Market."
As always, it's important to view the individual city and price range stats for more details:
Although the overall market shows that it's a "Buyers Market': Novato, San Rafael and Tiburon are the in that "Buyers Market" category and Belvedere, Ross, Sausalito are all in a "Strong Buyers" market. On the other hand, Corte Madera, Fairfax, Greenbrae, Larkspur and San Anselmo are all in a "Sellers" market; Mill Valley is in a "Balanced Market", but is close to a Sellers Market. As I indicated last month the spring market has "heated up" again where multiple offers are once again becoming commonplace.
Homes priced under $1M and over $1M are all in a "Buyers Market", whereas homes priced from $1M to $1.5M are in a "Balanced Market."
My take on the current market: The real estate market is very hard to generalize. It is a market made up of many micro markets. For complete information on a particular neighborhood or for an evaluation of your home's worth, call me.
If I can help you devise a strategy, just let me know.
I think that the general consensus among agents currently is that there is a lack of inventory. Interest rates have been very good and there are buyers ready to purchase homes, but there is still a lack of homes that are finished and priced correctly. Multiple offers are becoming commonplace again, especially in popular areas like: Anywhere you can walk to town in Mill valley, Larkspur, San Anselmo and San Rafael.
If you are looking to purchase a home, it's important that you be ready with a pre-approval letter so that you can be ready if the home that fits your requirements comes on the market. Buyers once again have to forgo some of their "must-haves" and make compromises for what they are looking for.
MY ADVICE?
For buyers, the same as last month: prime property is selling quickly and, in many instances, with multiple offers. Buyers need to be prepared to make an offer immediately on prime property. That means you need to have a loan in place. For more information about buying in a multiple offer situation, call me.
For sellers, where your home is, the condition and what segment of the market it's in, entry-level, move-up or million plus, are the determining factors in whether or not you will be able to sell your home quickly and for a good price. Demand in the entry-level market has fallen, which will impact the move-up market. The million dollar plus market is pretty much immune to the sub-prime mortgage tightening.
The real estate market is very hard to generalize. It is a market made up of many micro markets. For complete information on a particular neighborhood or for an evaluation of your home's worth, call me. If I can help you devise a strategy, call or click the buying or selling link in the menu above.
I'm always searching for ways to bring my clients and readers more local real estate statistics. I'm pleased to announce the launch of my new Marin home Sales Statistics page. To view, go to: Marin Real Estate Statistics.
For the whole May Newsletter, charts, graphs and more, go to: May 2007 Newsletter
Sales of single-family homes were up 22.5% from March, up 9.3% year-over-year.
The median price for condos fell 8.9% to $549,500, a year-over-year gain of 0.9%. The average price fell 7.6% to $591,536, down 5.8% compared to April 2006. Condo sales dropped 23.6% from March, and were down 30% year-over-year.
These statistics show how many homes are available for sale in Marin, and of those how many are currently in contract (either pending or contingent. For the 8th month in a row, the Marin overall real estate market is in a "Buyers Market."
As always, it's important to view the individual city and price range stats for more details:
Although the overall market shows that it's a "Buyers Market': Novato, San Rafael and Tiburon are the in that "Buyers Market" category and Belvedere, Ross, Sausalito are all in a "Strong Buyers" market. On the other hand, Corte Madera, Fairfax, Greenbrae, Larkspur and San Anselmo are all in a "Sellers" market; Mill Valley is in a "Balanced Market", but is close to a Sellers Market. As I indicated last month the spring market has "heated up" again where multiple offers are once again becoming commonplace.
Homes priced under $1M and over $1M are all in a "Buyers Market", whereas homes priced from $1M to $1.5M are in a "Balanced Market."
My take on the current market: The real estate market is very hard to generalize. It is a market made up of many micro markets. For complete information on a particular neighborhood or for an evaluation of your home's worth, call me.
If I can help you devise a strategy, just let me know.
I think that the general consensus among agents currently is that there is a lack of inventory. Interest rates have been very good and there are buyers ready to purchase homes, but there is still a lack of homes that are finished and priced correctly. Multiple offers are becoming commonplace again, especially in popular areas like: Anywhere you can walk to town in Mill valley, Larkspur, San Anselmo and San Rafael.
If you are looking to purchase a home, it's important that you be ready with a pre-approval letter so that you can be ready if the home that fits your requirements comes on the market. Buyers once again have to forgo some of their "must-haves" and make compromises for what they are looking for.
MY ADVICE?
For buyers, the same as last month: prime property is selling quickly and, in many instances, with multiple offers. Buyers need to be prepared to make an offer immediately on prime property. That means you need to have a loan in place. For more information about buying in a multiple offer situation, call me.
For sellers, where your home is, the condition and what segment of the market it's in, entry-level, move-up or million plus, are the determining factors in whether or not you will be able to sell your home quickly and for a good price. Demand in the entry-level market has fallen, which will impact the move-up market. The million dollar plus market is pretty much immune to the sub-prime mortgage tightening.
The real estate market is very hard to generalize. It is a market made up of many micro markets. For complete information on a particular neighborhood or for an evaluation of your home's worth, call me. If I can help you devise a strategy, call or click the buying or selling link in the menu above.
I'm always searching for ways to bring my clients and readers more local real estate statistics. I'm pleased to announce the launch of my new Marin home Sales Statistics page. To view, go to: Marin Real Estate Statistics.
For the whole May Newsletter, charts, graphs and more, go to: May 2007 Newsletter
Saturday, April 28, 2007
Marin Homes For Sale
Are you looking to make the move to Marin?
The following links will take you to home searches for different cities in Marin.
All search results are displayed from the highest price to the lowest price. You can scroll through pages at a time.
Belvedere homes for sale: Belvedere Homes For Sale
Corte Madera homes for sale: Corte Madera Homes For Sale
Fairfax homes for Sale: Fairfax Homes For Sale
Greenbrae homes for sale: Greenbrae Homes For Sale
Kentfield homes for sale: Kentfield Homes For Sale
Larkspur homes for sale: Larkspur Homes For Sale
Mill Valley homes for sale: Mill Valley Homes For Sale
Novato homes for Sale: Novato Homes For Sale
Ross homes for sale: Ross Homes For Sale
San Anselmo homes for sale: San Anselmo Homes For Sale
San Rafael HOMES for sale: San Rafael Homes For Sale
San Rafael CONDOS for sale: San Rafael Condos For Sale
Sausalito homes for sale: Sausalito Homes For Sale
Tiburon homes for sale: Tiburon Homes For Sale
FREE MARIN HOME SEARCH TOOLS
Free public website MLS access. You can set it up to automatically email you matching homes that fit your criteria. You can access this free MLS search here: Search for properties
If you don't yet have a Marin agent helping you, I would be more than happy to help. Please don't hesitate to contact me. I'd be more than happy to show you ANY of these homes, or give you a free home market evaluation- just give me a call!
Liz McCarthy
"High-Touch through High-Tech"
Broker, e-Pro Internet Certified
www.BayAreaRealEstateSales.com
Liz@BayAreaRealEstateSales.com
415-250-4929
Vision Real Estate
The following links will take you to home searches for different cities in Marin.
All search results are displayed from the highest price to the lowest price. You can scroll through pages at a time.
Belvedere homes for sale: Belvedere Homes For Sale
Corte Madera homes for sale: Corte Madera Homes For Sale
Fairfax homes for Sale: Fairfax Homes For Sale
Greenbrae homes for sale: Greenbrae Homes For Sale
Kentfield homes for sale: Kentfield Homes For Sale
Larkspur homes for sale: Larkspur Homes For Sale
Mill Valley homes for sale: Mill Valley Homes For Sale
Novato homes for Sale: Novato Homes For Sale
Ross homes for sale: Ross Homes For Sale
San Anselmo homes for sale: San Anselmo Homes For Sale
San Rafael HOMES for sale: San Rafael Homes For Sale
San Rafael CONDOS for sale: San Rafael Condos For Sale
Sausalito homes for sale: Sausalito Homes For Sale
Tiburon homes for sale: Tiburon Homes For Sale
FREE MARIN HOME SEARCH TOOLS
Free public website MLS access. You can set it up to automatically email you matching homes that fit your criteria. You can access this free MLS search here: Search for properties
If you don't yet have a Marin agent helping you, I would be more than happy to help. Please don't hesitate to contact me. I'd be more than happy to show you ANY of these homes, or give you a free home market evaluation- just give me a call!
Liz McCarthy "High-Touch through High-Tech"
Broker, e-Pro Internet Certified
www.BayAreaRealEstateSales.com
Liz@BayAreaRealEstateSales.com
415-250-4929
Vision Real Estate
April 2007 Marin Real Estate News
To view the stats for this month: April 2007 Marin Real Estate Home Sales
These statistics show how many homes are available for sale in Marin, and of those how many are currently in contract (either pending or contingent. For the 7th month in a row, the Marin overall real estate market is in a “Buyers Market.” We are still hovering close to a Balanced Market.
As always, it’s important to view the individual city and price range stats for more details:
Although the overall market shows that it’s a “Buyers Market’, only Greenbrae, Sausalito and Tiburon are the only cities still in that “Buyers” market. Fairfax is again (for the 2nd month in a row) in a Sellers market! This is the time to sell your Fairfax home. I believe this is the case because Fairfax has tended to be slightly less on the average sales. Kentfield, Larkspur and Mill Valley are all in a “Sellers Market.” Corte Madera, Ross, San Anselmo, and San Rafael are all in a “Balanced Market.
Homes priced from $500,000 to $1.5M are all in a “Balanced Market”. I think that the general consensus among agents currently is that there is a lack of inventory. Interest rates have been very good and there are buyers ready to purchase homes, but there is still a lack of homes that are finished and priced correctly. Multiple offers are becoming commonplace again.
If you are looking to purchase a home, it’s important that you be ready with a pre-approval letter so that you can be ready if the home that fits your requirements comes on the market. Buyers once again have to forgo some of their “must-haves” and make compromises for what they are looking for.
Recent local head lines are still selling newspapers, but when you drill down on articles you’ll find that the Marin real estate market hasn’t been affected by junk-bonds and foreclosures. For example, a recent Marin Independent Journal headline touted: Mortgage defaults up 55 % in Marin” “The number of home foreclosures initiated in Marin from January to March increased 55 percent over the first quarter of last year, a leading real estate research firm reported Monday.” but then the article continued to say: But Marin continued to enjoy one of the lowest default rates among California counties, according to DataQuick Information Systems.” DataQuick also said mortgages were least likely to go into default in Marin, San Francisco and San Mateo counties.
Defaults were most likely in Sacramento, Riverside and San Joaquin counties.
John Karevoll, an analyst with DataQuick, said the level of defaults and foreclosures in the Bay Area is still too low to drag down housing prices. But in the Central Valley and in Southern California's Inland Empire, there are enough foreclosures that any sign of recession could pose a big problem for housing prices there, he said.
My advice?
For buyers: the same as last month: prime property is selling quickly and, in many instances, with multiple offers. Buyers need to be prepared to make an offer immediately on prime property. That means you need to have a loan in place. For more information about buying in a multiple offer situation, call me.
For sellers: where your home is, the condition and what segment of the market it's in, entry-level, move-up or million plus, are the determining factors in whether or not you will be able to sell your home quickly and for a good price. Demand in the entry-level market has fallen, which will impact the move-up market. The million dollar plus market is pretty much immune to the sub-prime mortgage tightening.
The real estate market is very hard to generalize. It is a market made up of many micro markets. For complete information on a particular neighborhood or for an evaluation of your home's worth, call me. If I can help you devise a strategy, call or click the buying or selling link in the menu above.
I’m always searching for ways to bring my clients and readers more local real estate statistics. I’m pleased to announce the launch of my new Marin home Sales Statistics page. To view, go to: Marin Real Estate Statistics.
If you know of anyone who would like to receive this monthly newsletter or is thinking of either buying or selling a home please let me know. I’d love your referrals!
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