Selling your house
Bay
Area Real Estate Sales.com Newsletter
April
2010
In
This Month’s Issue:
How
is the Marin Real Estate Market Performing?
See
Liz’s
Newest Listings
Trying
to Evaluate the Marin Real Estate Market?
New
State Tax Credit and Mortgage Debt Relief
Foreclosures/bank
Owned and Auction
Properties
Search
the Marin multiple Listing Service
Looking
for a Lake Tahoe Vacation Home?
What
do Clients Say About Working with Liz McCarthy?
HOW
IS THE MARIN REAL ESTATE MARKET PERFORMING?
|
March
2010 Closed Sales
Single
Family Residences |
|
|
Days
on Market |
List
Price |
Selling
Price |
|
Average |
101 |
$980,140 |
$935,590 |
|
Median |
49 |
$799,000 |
$780,000 |
|
March
2010 Closed Sales
Condos |
|
|
Days
on Market |
List
Price |
Selling
Price |
|
Average |
94 |
$420,468 |
$418,589 |
|
Median |
55 |
$379,000 |
$375,500 |
We
have seen the median price increase 10.2% from March 2009 to March
2010 and the number of units sold increase 65% during that same
annual period. What we see from all of this data is that the
median price of a home in Marin has increased from a year ago but
looking at it at the height of the market (July 2005) the median
price of a home in Marin has gone from $1,000,000 in July 2005 to
$785,000 as of March 2010. This median price decline from the height
of the market equals a decline of 21.5%.
The
monthly increases in the median home price is now trending in the
right direction but we still have a long way to go to bring us back
to the prices of 2005, when the market was at the height of
over-heating. Days on market is also decreasing showing that we
are getting inventory sold quicker.
Surprise,
surprise, the overall Marin is in a “Balanced Market”
category. Even though the inventory has gone up recently, the amount
of homes in contract has increased proportionally, which means the
over all market has remained in a Balanced market.
Analysis
by Price Range:
Homes
priced under $500,000 are selling extremely quickly “Strong
Sellers” Market, especially in Novato, often times with cash
offers being made by investors. Homes priced from $501K - $749K are
in a “Sellers” Market. All homes priced over $750,000
are in varying degrees of “Buyers” markets, it’s
interesting to note that there seems to be more excess inventory for
homes priced $1,000,000 - $1,500,000 “Strong Buyers”
Market for homes priced as compared to homes priced from $1,500,000
to $2,500,000.
Analysis
by City:
Currently (as of April 28th,
2010), Corte Madera, Fairfax, Greenbrae, Novato, and San Anselmo are
all in Sellers Market, and Novato, not surprisingly as it’s had
the largest over all price reduction is in a Strong Sellers Market.
Belvedere and Sausalito are both in “Strong Buyers”
markets, as not many homes have been selling in those 2 towns. You
would also expect that the higher priced communities (Tiburon,
Sausalito, Ross, Mill Valley, Kentfield and Belvedere) would show
slower absorption of homes through the sales cycle as well as a lower
percentage of those in contract.
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.
|
MARIN
HOME (CONDO + SFR) SALES STATISTICS - BY CITY AS OF 4/28/10 |
|
City |
Total |
Active |
Number
in Contract*** |
Percent
in Contract* |
Type
of Market*
(See
Key) |
|
Belvedere |
36 |
29 |
7 |
19 |
Strong
Buyers |
|
Corte
Madera |
45 |
28 |
17 |
38 |
Sellers |
|
Fairfax |
40 |
25 |
15 |
38 |
Sellers |
|
Greenbrae |
46 |
26 |
20 |
43 |
Sellers |
|
Kentfield |
42 |
32 |
10 |
24 |
Buyers |
|
Larkspur |
36 |
28 |
8 |
22 |
Buyers |
|
Mill
Valley |
195 |
148 |
47 |
24 |
Buyers |
|
Novato |
328 |
173 |
155 |
47 |
Strong
Sellers |
|
Ross |
23 |
17 |
6 |
26 |
Buyers |
|
San
Anselmo |
97 |
62 |
35 |
36 |
Sellers |
|
San
Rafael |
373 |
259 |
114 |
31 |
Balanced |
|
Sausalito |
94 |
79 |
15 |
16 |
Strong
Buyers |
|
Tiburon |
113 |
87 |
26 |
23 |
Buyers |
|
Others |
110 |
87 |
23 |
21 |
Buyers |
|
Total
Marin 4/28/10 |
1578 |
1080 |
498 |
31.56% |
Balanced |
|
Total
Marin 3/15/10 |
1211 |
801 |
410 |
33.86% |
Balanced |
|
Total
Marin 2/14/10 |
1098 |
712 |
386 |
35.15% |
Balanced |
|
Total
Marin 1/14/10 |
717 |
477 |
240 |
33.47% |
Balanced |
|
Total
Marin 12/17/09 |
1090 |
676 |
414 |
37.98% |
Sellers |
|
Total
Marin 10/14/09 |
1529 |
1038 |
491 |
32.11% |
Balanced |
|
Total
Marin 8/19/09 |
1533 |
1070 |
463 |
30.2% |
Buyers |
|
Total
Marin 7/23/09 |
1533 |
1097 |
436 |
28.44% |
Buyers |
|
MARIN
HOME SALES STATISTICS - BY PRICE RANGE AS OF 4/28/10 |
|
Price |
Total |
Active |
Number
in Contract*** |
Percent
in Contract* |
Type
of Market*
(See
Key) |
|
$100,000-$499,999 |
344 |
168 |
176 |
51 |
Strong
Sellers |
|
$500,000-$749,999 |
366 |
232 |
134 |
37 |
Sellers |
|
$750,000-$999,999 |
295 |
210 |
85 |
29 |
Buyers |
|
$1,000,000-$1,499,999 |
246 |
205 |
41 |
17 |
Strong
Buyers |
|
$1,500,000-$1,999,999 |
126 |
100 |
26 |
21 |
Buyers |
|
$2,000,000-$2,499,999 |
58 |
46 |
12 |
21 |
Buyers |
|
$2,500,000-$2,999,999 |
37 |
31 |
6 |
16 |
Strong
Buyers |
|
$3,000,000-$3,999,999 |
47 |
35 |
12 |
26 |
Buyers |
|
Over
$4,000,000 |
59 |
53 |
6 |
10 |
Extreme
Buyers |
|
Total
|
1578 |
1080 |
498 |
32 |
Balanced |
|
*Key
to
market type: |
|
0%
- 10% of Homes in Escrow: Extreme Buyers |
36%
- 45% of Homes in Escrow: Sellers |
|
11%
- 20% of Homes in Escrow: Strong Buyers |
46%
- 55% of Homes in Escrow: Strong Sellers |
|
21%
- 30% of Homes in Escrow: Buyers |
56%
- 100% of Homes in Escrow: Extreme Sellers |
|
31%
- 35% of Homes in Escrow: Balanced Market |
**Based
on information from Bay Area Real Estate Information Services,
Inc. (BAREIS). Information has not been verified, is not
guaranteed, and is subject to change and is based on one period of
time.”
***Includes
all: Sale Pending & Contingent properties
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 top.
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!
SEE
LIZ’S NEWEST LISTINGS
Liz
has 2 homes currently listed and has already closed over $5,500,000
in sales for in 2010!
Just
Listed:
35
Bayview Ave, Mill Valley
$2,099,000
This
home is not currently on the MLS
5
Bedrooms and 3 bedrooms
http://www.35Bayview.com
This
beautifully updated and light-filled Mill Valley home is ideally located just
steps from Mill Valley's restaurants, theatres, schools and shops.
Enjoy the beautiful flowering gardens and stone patios. This five
bedroom, three bathroom home also includes a media room and office or
playroom perfect for flexible living, privacy and serenity. The
recently remodeled kitchen opens up to a sunny deck that overlooks
downtown Mill Valley and the adjacent hills. Limestone entry,
hardwood and bamboo floors, designer paint colors and space for a
wine cellar. French doors from master bedroom lead to gardens.
Downstairs has a private separate entrance as well as a two car
garage. This property rates a Walk Score of 97 out of 100, a Walkers
Paradise. Top rated Mill Valley schools and just a short commute to
San Francisco make this house ideally situated.
Just
Listed:
106
Summit Ave, Corte Madera
$725,000
(this home’s price will likely be greatly reduced once we get
approval to conduct a short sale)
2
Bedrooms/1 bathroom, plus 1 BR/1Bathroom
On
the top of Christmas Tree hill in Corte Madera, this home that was
originally built in 1912 hasn’t been on the market since 1962.
An artistic retreat on top of it all, this home has wonderful views.
http://www.106Summit.com
Liz
Just Sold:
10
La Rosa, Larkspur $2,400,000
20
Elizabeth Place, Inverness $1,200,000
100
Rockrose Way, Novato $810,000
67
Pinheiro Circle, Novato $656,500
55
Buena Vista, Novato $520,000
TRYING
TO EVALUATE THE MARIN REAL ESTATE MARKET?
I’ve
mentioned in the past, I’m constantly on the look out for
information to better prepare my clients to understand the local real
estate market. I’ve got 2 great new stat evaluation programs
that I’m providing FREE of charge to my clients and viewers of
my newsletter!
1.
FREE NEIGHBORHOOD EVALUATION REPORT:
If
you would like a personalized Market evaluation of YOUR home, within
minutes of submitting your request, or if you are a home Buyer and
want to do a Market Snapshot of a particular zip code, that works
too! Check it out, I PROMISE you you’ll love what you see!
These reports will include recent comp data, charts, trends and more.
You will receive an updated neighborhood report every month with
upgraded comp data:
Free
Marin
Neighborhood Report
FREE
HOME VALUATION REPORT TOOL:
Not
as graphically pretty as the above report, but will actually give you
a VALUE of YOUR home. Additionally, you can make changes to your
“home” which will change your homes valuation. This is
nice for running scenarios (like do I add on to my house to make it
bigger or add bedrooms?) This report will give you an instant home
valuation. You do have the option of entering your email address to
receive updates of when new homes sell.
Free
Marin Home
Value Report
http://valuemap.facorelogic.com/ValueMap.aspx?licenseCode=6b9fa4be3bba4158a24c88bd859ee069
3.
DETAILED
MARKET EVALUATION REPORT BY CITY:
Fabulous
stats program that breaks down city statics. Will show you weekly
average and median prices, days on market, Additionally, you can sign
up to receive a detailed weekly market update of your interested
city. Whenever you view this page the graphics will automatically
update to the most current data, so check back often, or even better,
sign up to receive alerts of when new statics are released by city.
FREE
Statistical Reports by Marin Town
4.
FORECLOSURE
ACTIVITY
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
Of
course, if you have any questions please call me at 415-250-4929 or
drop me an email at Liz@BayAreaRealEstateSales.com
NEW
STATE TAX CREDIT AND MORTGAGE DEBT RELIEF
A
new California State Tax credit was put into place that and is to
start on May 1st
for First Time Home Buyers and Buyers of new homes. Trying to figure
out if you qualify for any of the tax credits? The State and Federal
Tax credits may be a bit confusing to home buyers, if you are
confused, I have a great spreadsheet to explain who qualifies for
what credit and when the deadlines are. Click on the following link
to view a clear Tax credit chart.
Additionally,
on Monday 4/12/2010, Gov. Arnold Schwarzenegger, signed the Bill
SB401 which will eliminate state
taxes
on forgiven mortgage debt from 2009 through the end of 2012. The US
Government has already put this in place. A big relief for California
homeowners who have a loan modification, short sale or foreclosure.
You can find out more here:
FORECLOSURES/BANK
OWNED AND AUCTION PROPERTIES
|
Type |
Number
as of 4/30/10 |
|
Pre-foreclosure |
459 |
|
Auction
Sale |
482 |
|
Bank
Owned |
407 |
|
TOTAL |
1348 |
I
can provide you a list of all of the current properties in any of the
above types anywhere in Marin.
I’ve
been tracking the Foreclosure data since April of 2009. The overall
chart above shows a slow and steady rise in the number of Bank owned,
Notice of Default (pre-foreclosure) and Auction sale properties. .
I
have access to all of these homes!! If you would like me to pull a
more customized list for any town in Marin that will show:
Pre-foreclosure, Auction and/or Bank owned properties, just email me:
Liz@BayAreaRealEstateSales.com
FREE…..You
can search for Marin listings directly on BayAreaRealEstateSales.com:
Search
for Homes
Back
to top
SEARCH
THE MARIN MULTIPLE LISTING SERVICE
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
Corte
Madera Homes For Sale
Fairfax
Homes For Sale
Greenbrae
Homes For Sale
Kentfield
Homes For Sale
Larkspur
Homes For Sale
Mill
Valley Homes For Sale
Mill
Valley Condos For Sale
Novato
Homes For Sale
Novato
Condos
Ross
Homes For Sale
San
Anselmo Homes For Sale
San
Rafael Homes For Sale
San
Rafael Condos For Sale
Sausalito
Homes For Sale
Tiburon
Homes For Sale
Marin
Luxury homes priced over $2M - $3M Marin
Luxury Home Search:
Marin
homes priced over $3M Marin
Luxury Home Search:
Floating
Homes for sale: Sausalito
House Boats
Back
to top
LOOKING
FOR A VACATION HOME IN LAKE TAHOE?
Liz
is happy to announce a new partnership with Linda Granger, a top Lake
Tahoe Real Estate Broker. From this point forward, I will include a
link to her blog. If you would like any detailed information on
homes in Lake Tahoe, let me know and I will get you in touch with
Linda. You can search for Tahoe Homes directly from the Lake
Tahoe Home Search:
The
2010 1st Quarter Stats are out! Here is the most recent response to
the popular question – “How’s the market?”
The graphs below show the numbers. The first quarter of 2010 has
started out with some positive numbers and good signs of growth in
real estate sales for the Truckee/Tahoe area. There have been
significant increases in the numbers of home sales throughout the
area for this quarter (January 1 – March 31) compared to the
same dates for 2009.
To
read more Lake
Tahoe Real estate Facts, click here
WHAT
DO CLIENTS SAY ABOUT WORKING WITH LIZ MCCARTHY?
“We
had the pleasure of working with Liz on both in the sale of our
apartment and purchase of our new home. Our first step was to sell
our co-op apartment in Terra Linda. In this current market, this was
a potential challenge. But Liz guided us through the process, from
pricing it to sell and staging our home, to the endless paperwork
involved in selling a co-op.
Then
we were clear to go house hunting. We set our sights on Novato.
Through her web listings, we were able to view many homes in our
price range. She took us to many homes including foreclosures and
short sales. We ended up finding the perfect home: great location
and layout. It had everything we were looking for in a new home.
She negotiated on our behalf to get a great deal and once again
guided us through all of the paperwork. We love our new home and
know that we will have many special memories here. We would
recommend Liz to anyone looking to buy or sell a home in the Bay
Area. She is friendly, knowledgeable, and hard working. She spent
many a night working towards making our dream of new home come true.
Thanks Liz.”
-Doreen
and Jeff Gurrola
THE
BAY AREA REAL ESTATE NEWSLETTER IS PROVIDED TO YOU BY:
If
you would like to have Liz help you sell your Marin home or help you
find a home, or you know of someone that could benefit from her
services, just send her an email: liz@BayAreaRealEstateSales.com
or give her a call: 415-250-4929
Be
sure to check out all the other great content & features of my
website:
www.BayAreaRealEstateSales.com
Liz
McCarthy, PMN
Real
Estate Broker, e-PRO certified
McGuire
Real Estate
415-250-4929
Liz@BayAreaRealEstateSales.com
www.BayAreaRealEstateSales.com
BLOG:
http://bayarearealestatesales.blogspot.com/
Facebook:
http://www.facebook.com/lizsmccarthy
Twitter:
http://www.twitter.com/lizsmccarthy
DRE
License Number: 01421997
Spam
Free Guarantee
We
do not share, sell or rent our mailing list and we do not place
pop-up ads on your computer.
