Marin Real Estate

Marin Real Estate News

Bay Area Real Estate Sales.com Newsletter

April 2007

IN THIS ISSUE:

Marin Home Sales Statistics

Marin Housing Market Sales

What Did Your Neighbors’ House Sell For?

Paying Over Asking Price Can Be A Good Deal

Attention: For Sale By Owners!

Please help us Walk to Save Babies

What Do Liz’s Client’s Say?

Fast Facts

MARIN HOME SALES STATISTICS

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 7^th 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 2^nd 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!

MARIN HOME SALES STATISTICS - BY CITY AS OF 4/15/07
City	Total	Active	Number in Contract***	Percent in Contract*	Type of Market* (See Key)
Belvedere	20	17	3	15%	Strong Buyers
Corte Madera	29	20	9	31%	Balanced
Fairfax	18	9	9	50%	Strong Sellers
Greenbrae	25	18	7	28%	Buyers
Kentfield	30	18	12	40%	Sellers
Larkspur	21	12	9	43%	Sellers
Mill Valley	117	68	49	42%	Sellers
Novato	315	244	71	23%	Buyers
Ross	21	14	7	33%	Balanced
San Anselmo	59	41	18	31%	Balanced
San Rafael	247	171	76	31%	Balanced
Sausalito	54	44	10	19%	Strong Buyers
Tiburon	84	60	24	29%	Buyers
Others	68	57	11	16%	Strong Buyers
Total Marin 4/15/07	1,108	793	315	28.43%	Buyers
Total Marin 3/15/07	966	688	278	28.78	Buyers
Total Marin 2/15/07	893	631	262	29.34%	Buyers
Total Marin 1/15/07	720	548	172	23.89%	Buyers
Total Marin 12/15/06	898	669	229	25.5%	Buyers
Total Marin 11/16/06	1,197	902	295	24.64%	Buyers
Total Marin 10/15/06	1,401	1,095	306	21.84%	Buyers
Total Marin 9/15/06	1,395	1,127	268	19.21%	Strong Buyers
Total Marin 8/18/06	1,346	1,029	317	23.55%	Buyers
Total Marin 7/13/06	1392	1077	315	22.63%	Buyers
Total Marin 6/16/06	1323	959	364	27.51%	Buyers
Total Marin 5/18/06	1,177	817	360	31%	Balanced
Total Marin 4/10/06	977	629	348	36%	Sellers
Total Marin 3/15/06	894	597	297	33%	Balanced
Total Marin 12/23/05	622	504	118	15%	Strong Buyers
Total Marin 9/11/105	1,012	651	361	36%	Sellers

MARIN HOME SALES STATISTICS - BY PRICE RANGE AS OF 4/15/07
Price	Total	Active	Number in Contract***	Percent in Contract*	Type of Market* (See Key)
$100,000-$499,999	137	108	29	21%	Buyers
$500,000-$749,999	226	155	71	31%	Balanced
$750,000-$999,999	243	165	80	33%	Balanced
$1,000,000-$1,499,999	216	150	66	31%	Balanced
$1,500,000-$1,999,999	117	86	31	26%	Buyers
$2,000,000-$2,499,999	48	33	15	31%	Balanced
$2,500,000-$2,999,999	32	29	3	9%	Extreme Buyers
$3,000,000-$3,999,999	43	29	14	33%	Balanced
Over $4,000,000	47	40	7	15%	Strong Buyers
Total Marin 4/15/07	1,109	793	316	28%	Buyers

DAYS ON MARKET (DOM)**
Date	Average	Median	Maximum
Mar	75	36	1,181

*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

March Sales Statistics
(Single-family Homes)
	Prices		Unit			Change from last year
	Median	Average	Sales	DOM	SP/LP	Median	Average	Sales
Marin	$1,000,000	$1,298,712	173	79	98.8%	0.0%	-2.3%	-8.5%
Belvedere	$2,397,750	$2,397,750	2	120	93.8%	-31.5%	-31.5%	0.0%
Corte Madera	$969,000	$1,168,639	9	53	105.8%	-18.1%	0.9%	50.0%
Fairfax	$755,000	$940,367	6	88	104.2%	-6.3%	-16.3%	-30.0%
Greenbrae	$1,292,500	$1,473,125	8	30	101.1%	33.2%	51.9%	300.0%
Kentfield	$3,500,000	$4,047,600	5	70	97.0%	119.4%	152.9%	-28.6%
Larkspur	$1,300,000	$1,609,000	7	47	98.3%	-18.8%	9.1%	75.0%
Mill Valley	$1,194,250	$1,435,188	24	51	99.8%	-3.3%	3.4%	-35.1%
Novato	$764,000	$871,539	37	82	98.6%	-11.6%	-9.5%	-11.9%
Ross	$2,027,500	$2,027,500	2	165	95.5%	-34.6%	-37.8%	-66.7%
San Anselmo	$832,500	$1,064,313	8	55	99.4%	-17.8%	-3.5%	-50.0%
San Rafael	$882,500	$1,051,316	40	60	99.1%	-0.8%	9.7%	0.0%
Sausalito	$1,275,000	$1,565,000	5	187	98.7%	-12.7%	-2.2%	-37.5%
Tiburon	$1,800,250	$2,077,844	12	93	98.0%	-40.0%	-34.2%	33.3%

March Sales Statistics
(Condos/Townhomes)
	Prices		Unit			Change from last year
	Median	Average	Sales	DOM	SP/LP	Median	Average	Sales
Marin	$603,000	$640,270	55	64	99.6%	4.1%	10.3%	-17.9%
Corte Madera	$635,000	$635,000	1	22	97.8%	-3.1%	-7.7%	-80.0%
Greenbrae	$520,000	$611,600	5	48	100.0%	7.2%	9.6%	66.7%
Mill Valley	$759,000	$968,800	5	28	99.5%	6.8%	36.3%	-37.5%
Novato	$432,000	$460,357	7	107	100.9%	-25.9%	-16.7%	-66.7%
San Rafael	$639,000	$619,763	19	69	98.8%	27.8%	23.7%	-9.5%
Sausalito	$640,000	$607,076	11	60	100.2%	-6.3%	-11.1%	450.0%
Tiburon	$750,000	$951,667	3	23	100.4%	4.2%	33.4%	-40.0%

FREE…..You can search for Marin listings directly on BayAreaRealEstateSales.com: Search for Homes

MARIN HOUSING MARKET SALES

(Data from DQNews.com and MarinIJ.com)

All Homes	No Sold March-06	No Sold March-07	Pct. Chg	Median March-06	Median March-07	Pct. Chg
Alameda	2,056	1,840	-10.5%	$580,000	$598,000	3.1%
Contra Costa	2,098	1,443	-31.2%	$571,500	$575,000	0.6%
Marin	384	289	-24.7%	$826,000	$825,000	-0.1%
Napa	152	124	-18.4%	$650,000	$590,000	-9.2%
Santa Clara	2,632	2,052	-22.0%	$672,000	$682,500	1.6%
San Francisco	631	640	1.4%	$769,500	$753,000	-2.1%
San Mateo	811	796	-1.8%	$750,000	$755,000	0.7%
Solano	829	527	-36.4%	$460,000	$445,000	-3.3%
Sonoma	750	606	-19.2%	$550,000	$520,000	-5.5%
Bay Area	10,343	8,317	-19.6%	$626,000	$639,000	2.1%

Source: DQnews.com

WHAT DID YOUR NEIGHBORS’ HOUSE SELL FOR?

The Neighborhood Homes Sold listing is a weekly reader feature of the Sunday San Francisco Chronicle. The data posted here is typically recorded a few months after the property officially sold. This is the public data available in the published tax records. The home addresses, sales price, number of bedrooms, square footage and the year the homes were built are based on information supplied from Bay Area counties' property transaction records which, in some cases, may not be complete.
Previous editions of Neighborhood Homes Sold

Click on the following links to see what price homes sold for in your neighborhood:

04/01/07 April 1 Marin Home Sales

04/08/07 April 8 Marin Home Sales

04/15/07 April 15 Marin Home Sales

4/22/07 April 22 Marin Home Sales

PAYING OVER ASKING PRICE CAN BE A GOOD DEAL

By Dian Hymer

Given the recent negative press about the state of the residential real estate market, it's understandable that buyers would be reluctant to offer more than the asking price. Yet, some buyers are finding that a list-price offer is not enough. Multiple offers are making a comeback in some markets.

A couple from San Francisco, who had resolved to pay no more than the list price, is now resigned to do so for the right property. They were surprised to find that there were multiple buyers seriously interested in each of the first three listings they considered buying. The one they chose to offer on received three offers. The winning bid was for $10,000 more than they offered.

Exhausted and disappointed from the experience, the San Francisco couple realized that if they wanted to buy a good house in their first-choice neighborhood, they would have to be prepared to compete.

Some buyers in this situation would decide to wait to buy until there are more listings and fewer buyers. A downside of this approach is that waiting in a market that's short on inventory could mean paying a higher price later.

Although appreciation has been flat to negative in many areas of the country, there are pockets of the market -- like the starter-home markets in Oakland and Berkeley, Calif., and Brooklyn, N.Y. -- where there aren't enough homes for sale to satisfy the demand. This tends to put an upward pressure on prices.

HOUSE HUNTING TIP: Does it make sense to pay over the asking price in a market that could soften further? The answer depends on how much over asking you have to pay and how long you plan to own the property.

Some sellers are still pricing their homes low to stimulate buyer interest. In this case, paying over the asking price may not mean paying over market value. Check the sale price of the most recent comparable sales in the area to determine if paying over asking is too much. Your real estate agent can help you with this.

Even if a listing is fairly priced, paying more might make sense depending on your circumstances. If the house will serve your long-term needs and you're confident that you won't be moving for five or 10 years, paying an extra $10,000 is probably worth it. However, if your future is uncertain, it could be risky to pay more than the asking price.

A job transfer that forces you to sell in a soft market soon after buying, could leave you in a precarious position -- particularly if you financed the purchase with a mortgage for 100 percent of the price. Unless you have financial assistance from your employer, you might have to pull money out of savings to cover your selling costs. If the value of your home has declined you might not be able to sell for enough to pay back the mortgage.

Another factor to consider before offering more than the list price is whether the house will appraise for your offer price. Typically, a lender's mortgage commitment is conditioned on an appraisal of the property that substantiates that the buyer is not overpaying. Most lenders require that the appraisal report include three comparable listings from the neighborhood that sold within the past six

months.

Due to the general slowdown in the housing market, some lenders are tightening up on their appraisal requirements. Recently, an appraiser who was appraising a property in Oakland's Upper Rockridge neighborhood was instructed by the lender to use comparable sales from the last three, not the last six, months.

THE CLOSING: To protect yourself, include an appraisal contingency in your purchase offer so that you won't risk losing your deposit should you back out of the contract because the property doesn't appraise for the purchase price.

FREE…..You can search for Marin listings directly on BayAreaRealEstateSales.com: Search for Homes

ATTENTION: FOR SALE BY OWNERS!

By unknown Author

Why People Are Afraid To Buy From You!
Many homeowners believe that to maximize their profit on a home sale they should sell it themselves. At first glance, they feel selling a home is simple and why should they pay a broker fees for something they could do themselves? In fact, close to 25% of all the homes sold last year were sold for sale by owner (FSBO).

However, close to half of the FSBO’s said that they would hire a professional next time they sold. Thirty percent said they were unhappy with the results they achieved by choosing FSBO. Why?

Many FSBO’s told us that the time, paperwork and everyday responsibilities involved were not worth the amount of money they saved in commissions. For others, the financial savings were even more disappointing. By the time they figured the amount of fees paid to outside consultants, inspectors, appraisers, title lawyers, escrow and loan officers, marketing, advertising... they would have been better off having paid the broker’s fee which would have included many of these charges up front.

Selling a home requires an intimate understanding of the real estate market. If the property is priced too high, it will sit and develop a reputation for being a problem property. If the property is priced too low, you will cost yourself serious money. Some FSBO’s discovered that the lost money as a result of poor decisions outweighed the commission.

Before you decide to sell FSBO, consider these questions and weigh the answers of assuming the responsibility versus employing a professional. A little time spent investigating up front will pay off tenfold in the end.

Questions To Consider:

Do I have the time, energy, know-how, and ability to devote a full forced effort to sell my home?

One of the keys to selling your home efficiently and profitably is complete accessibility. Many homes have sat on the market much longer than necessary because the owner was unwilling or unavailable to show the property. Realize that a certain amount of hours each day is necessary to sell your home.

Am I prepared to deal with an onslaught of buyers who perceive FSBO’s as targets for low balling?

One of the challenges of selling a home is screening unqualified prospects and dealing with lowballers. It often goes unnoticed... how much time, effort and expertise it requires to spot these people quickly. Settling for a lowball bid is usually worse than paying broker commissions.

Am I offering financing options to the buyer? Am I prepared to answer questions about financing?

One of the keys to selling, whether it’s a home, a car... anything, is to have all the necessary information the prospective buyer needs and to offer them options. Think about the last time you purchased something of value, did you make a decision before you had all your ducks in a row? By offering financing options you give the home buyer the ability to work on their terms and open up the possibilities of selling your home quickly and more profitably. A professional real estate agent will have a complete team, from lenders to title reps for you to utilize...they’ll be at your disposal.

Do I fully understand the legal ramifications and necessary steps required in selling a home?

Many home sales have been lost due to incomplete paperwork, lack of inspections or not meeting your states disclosure laws. Are you completely informed of all the steps necessary to sell real estate? If not, a professional would be a wise choice.

Do I have the capability of handling the legal contracts, agreements and any disputes with buyers before or after the offer is presented?

Ask yourself if you are well versed in legalese and if you are prepared to handle disputes with buyers. To avoid any disputes it is wise to put all negotiations and agreements in writing. Many home sales have been lost due to misinterpretation of what was negotiated.

Have I contacted the necessary professionals....title, inspector (home and pest), attorney, and escrow company?

Are you familiar with top inspectors and escrow companies? Don’t randomly select inspectors, attorneys, and title reps. Like any profession there are inadequate individuals who will slow, delay and possibly even cost you the transaction.

PLEASE HELP US WALK TO SAVE BABIES

I used to see pictures of tiny babies born extremely early and said "wow, they are so tiny, isn’t medical science a miracle! " and then went on about my day.

My life changed forever when I gave birth to my twin daughters 13 weeks early on 10/4/05. They each only weighed 1.5 pounds. As you may know, our first born daughter Corinne didn't have amniotic fluid for 10 long weeks and sadly her lungs didn’t develop so she died in my arms 3 hours after she was born. Her sister Kaitlyn today continues to suffer from the lasting effects of being born so early. After spending 4 months in the NICU, she had an additional 200 doctor and therapy visits for the first year of her life. She is doing extremely well now for how sick she was, but she is still fed 100% with a feeding tube, wears glasses, has a paralyzed vocal chord from a heart surgery when she was 4 days old and is developmentally quite delayed.

Well it's that time again. I feel very strongly about the cause to help save premature births. I'm "lucky" as I know why I delivered my babies so early (my problems were caused from an amnio gone wrong); But many, many perfectly healthy women go into labor early every year and have no idea why.

The March of Dimes has made the prevention of Premature Births their largest campaign in helping prevent Birth Defects. Premature birth is the #1 cause of newborn death. It has reached epidemic proportions in the U.S., endangering the lives of more than half a million babies. And it's growing at an alarming rate. That's why we need you to participate in Walk America.

With your support, the March of Dimes can continue to fund research and programs to prevent premature birth and other threats to babies' health.

2 Ways to help:

Walk with us: We'd love to have you walk with our "McCarthy Family Team" in names of both of our twin daughters, Kaitlyn and Corinne McCarthy.

Walk America March of Dimes Walk Details:

Saturday 4/28/07

9:00 am at Chrissy Field in San Francisco

Call Liz 415-250-4929 if you'd like to walk with us so we can arrange to meet beforehand

To register to walk with our team, click here:

Walk with us

Donate to March of Dimes:

If you are unable to walk with us but would like to make a donation in honor of Kaitlyn and Corinne, please click here:

Donate to March of Dimes

I have been changed forever by experiencing the pain of loosing a child and having a medically fragile daughter. I have been amazed by all the people that have reached out to us to give us support during these tough times that I want to try to give back to the community of premature babies. I have started a local support group for preemie moms, a support group for children with feeding issues, as well as a virtual micro preemie support group. If you know of anyone who can benefit from these groups, please let me know! I continue to chronicle Kaitlyn’s progress and am absolutely amazed that her blog has received 90,000 visits! She has a fan base from all over the world. If you would like to check in on Kaitlyn, you can visit her blog at: http://lizmccarthy.blogspot.com/

WHAT DO LIZ’S CLIENTS SAY?

“We especially appreciated Liz’s candor and her ability and willingness to articulate all the facts and issues that we should be considering. Obviously, we wanted to make the right decision for ourselves, but were not always certain that we were considering all of the important issues. Far from being pushy, Liz has a talent for understanding her clients and providing them with balanced, thoughtful advice. She helped us reach our own conclusions without pushing us in any specific direction.”

-David and Alyssa Morris, San Rafael

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

“High-Touch through High-Tech”: Did you know that Liz McCarthy is ePro Internet Certified by the National Association of Realtors and that 70 percent of home buyers today use the internet in their home search? Why are you still working with a Realtor who isn’t a technology expert?

What this means to you:

Home Buyers: Liz is an expert in helping save you time by using the internet, email and other technology resources to help save your valuable time and money. She knows how busy you are!

Home Sellers: Liz will hire a professional photographer and market your home extensively on the internet: a personal property website (see www.417Greenfield.com or www.50milland.com for samples), she will post your home on over 50 websites.

FAST FACTS

Marin median SFR + condo price– Mar07: $867;000 2006: $864,000 [Source: BAREIS]

Marin average SFR + condo price-: Mar07: $1,139,000; 2006: $1,089,129 [Source: BAREIS]

Marin median SFR home price – Mar 07: $1,000,000; 2006: $956,000 [Source: BAREIS]

Marin median condo price – Mar07: $603,000; 2006: $548,000 [Source: BAREIS]

Calif. median home price –Feb 07: $564,700 [Source: C.A.R.]

Calif. highest median home price Feb 07: Santa Barbara So. Coast $100,000,000 [Source: C.A.R.]

Calif. lowest median home price by C.A.R. region Feb 07: High Desert $319,860 [Source: C.A.R.]

Calif. First-time Buyer Affordability Index - Fourth Quarter 06: 25 percent [Source: C.A.R.]

Mortgage rates - week ending 4/19/07: (Source: Freddie Mac)

· 30-yr. fixed: 6.17%; Fees/points: 0.5%

· 15-yr. fixed: 5.89%; Fees/points: 0.5%

· 1-yr. adjustable: 5.47%; Fees/points: 0.7%

FREE…..You can search for Marin listings directly on BayAreaRealEstateSales.com: Search for Homes

Be sure to check out all the other great content & features of my website:

www.BayAreaRealEstateSales.com

The Bay Area Real Estate Newsletter is provided to you by:

Liz McCarthy

“High-Touch through High-Tech”

Real Estate Broker, e-PRO certified

Vision Real Estate

Liz@BayAreaRealEstateSales.com

415-250-4929

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