Mar 2011 Closed Sales Single Family Residences
	Days on Market	List Price	Selling Price
Average	106	$1,093,693	$1,036,000
Median	54	$841,454	$814,500

Mar 2011 Closed Sales Condos
	Days on Market	List Price	Selling Price
Average	136	$470,000	$445,630
Median	116	$349,000	$327,000

Despite formidable world events across the Middle East and Japan and the resulting volatility of the equity markets, the first quarter of 2011 experienced positive trends in many San Francisco Bay Area real estate markets, Marin County included.

Most importantly, we are experiencing a recovery in our clients' confidence. We believe this is a result of historic low interest rates, stabilized pricing in our real estate markets and a general feeling that "the worst" is behind us and that 2011 may be a better year than we expected in late 2010. I also believe that due to Marin County’s close proximity to San Francisco we are in a good position to recover quickly due to all the reasons people live in Marin: Our schools, close to San Francisco, natural beauty, open space and more.

Even though we pended the same number of homes this March as last March (191), year-to-date pending sales are up 11%. This increase in demand, however, has been accompanied by a 13% reduction in listing inventory. As I remember from my college economic class: An increase in demand with a decrease in supply means Higher Prices. This of course is finally some much needed good news for sellers.

I still believe the most active demographic continues to be buyers with families seeking good public schools, remodeled/updated homes with flat lawns or views, 4 bedrooms and 2.5 bathrooms with a preference for walk-to-town location and Southern Marin.

Buyers are continuing to make purchase decisions mostly due to the value they perceive. The sales cycle as measured by days-on-market for correctly priced homes is generally favorable. One of the first question home buyers are asking is: “How long has the home been on the market?” They are asking this question as if the home is older than 30 days, they know they can get a price reduction. Sellers who set sales prices greater than the market with a hope of “finding the right buyer” will be just setting themselves up for disappointment. The market is currently full of “value hunters” with a buyer’s wealth tending to make him that much more focused on value. Additionally, home sellers who “discount” comps because they were Short Sales or foreclosed are not accurately setting the market price for the home.

Single Family Homes: The current average home price for Single Family homes in Marin as of 4/17/11 is $1,095,000. For the month of March the Average selling price was: $1,036,000 and the median was $841,454. In March it took 106 average days for Single Family Homes to go into contract. The overall Marin asking price per square foot is $495/square foot.

Condos: The average sold price for Condos in Marin County for the month of March was: $470,000 and the median: $349,000. It is taking an average of 136 days for condos to go pending. The overall Marin asking price per square foot for condos is: $291/square foot.

There are currently 1,356 homes and condos listed for sale in Marin County as of April 21. The overall market, with 420 (31%) of those homes are currently under contract (escrow) means the market is considered to be in a “Buyers Market”.

Of course, homes sales in Marin vary greatly by town and by price point. Find your city and price range on the next chart to see how your area is fairing compared to the rest of the County.

For the first time I am including my overall percentage of homes in contract in graph form rather than in a chart. I hope you like this new format as much as I do! The following rates are calculated by taking all of the currently active Properties divided by the number that are under contract (Contingent and Pending). This percentage can give you an overall view of the health of the market (*see the Market Legend below to see what market type that pending number falls into). The higher the percentage the “hotter” the market is for sellers, meaning there are often multiple offers with competitive pricing, which ultimately drives the price up.

Whenever we have a low inventory, homes that were previously on the market but failed to sell will sometimes attract offers from buyers with creative agents. With few exceptions, Marin cities did quite well in March.

*Market Legend

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.”

Analysis by City:

Marin County Home Sales

Looking at data as of 4/21/11, the following towns are all in a “Sellers Market”: Corte Madera, Fairfax and Novato (with over 36%-45% of all homes for sale in contract). San Anselmo, Greenbrae and San Rafael are in a healthy “Balanced Market”. And the following towns: Larkspur, Mill Valley and Sausalito are in “Buyers Markets”, and lastly, the most expensive zip codes: Belvedere, Kentfield, Ross, Tiburon area all in “Strong Buyers Markets”.

Analysis by Price Range:

Marin County Pending Home Sales

Homes priced under $750K are moving quickly in a “Sellers Market”, with 36% - 42% of all listed homes for sale in contract. The under $750K market is extremely competitive, especially when short sale homes are listed at the right price, often multiple offers are coming in with bidding over asking. Homes priced from $750K - $1.5M are in a “Buyers Market”. Homes priced from $1.5M - $2M are in a “Strong Buyers Market”. But interesting to note that homes priced from $2M - $2.5M have heating up a bit from last month, as they are now in a “Buyers Market”, with 22% of homes under contract, and homes priced $2.5 - $4M are in a “Strong Buyers Market”.

April is always traditionally a pivotal month in real estate. Families start making plans to move over the summer months, and historically, from April through mid July, the rush is on. The following chart shows over the last 3 years when the most homes were listed, traditionally more homes are listed for sale in the 2nd Quarter of the year (and more specifically in April and May than in any other time). With Easter being late this year, I think the big spring selling season was delayed a bit, as folks don’t want to list their home during spring break.

If you've been waiting for the market to turn-around, your wait may be over. Give me a call, text or drop me an email. I'd be happy answer any of your real estate questions.

Marin County Homes for sale

***Includes all: Sale Pending & Contingent properties

SEE LIZ’S LISTINGS

In 2010 Liz was in the top 5% of all Marin Real Estate Agents. She was a Top Producer for McGuire real estate and was recently honored at the annual McGuire Sales Meeting in San Francisco. Liz is also a member of both the Marin Platinum Group as well as the Marin Top Agent Network.

2 Courtney Lane, Mill Valley – Coming Soon

Price being set: $929,000 or may be available for rent

3 Bedrooms/2.5 Bathrooms

1,956 square feet

Fabulous spacious Strawberry single family home, (approx.1956 sq. ft.) in beautiful condition. Single Family Home with no HOA dues, Light & bright feeling w/ a terrific split level floor plan. Hardwood floors, Formal Dining Room, Family room (or eat-in kitchen), Living room with fire place, nice Kitchen & lovely Master bedroom suite. All bedrooms are sensational. Large wrap around deck. Attached two car garage. Close to shopping, schools and recreation. Easy commute to S.F. A must see inside!

33 Calumet, San Anselmo – On Market

PRICE REDUCTION $869,000!! (Was $929,000)

3 Bedrooms/2 bathrooms

1700 square feet

This house was completely remodeled and is just what home buyers are looking for in today’s market: wonderful curb appeal, comfort, close to down town San Anselmo, wonderful sunny back yard. This is a short sale

This home can be seen starting on Thursday 3/24 for the Brokers Open as well as Sunday 3/27.

www.33Calumet.net

417 Rydal Ave, Mill Valley – Coming Soon

$829,000 (Final price still being set)

3 bedrooms/2 bathrooms

1688 square feet

Wonderful Mid-century Modern Mill Valley Homestead Valley home with floor to ceiling windows with stunning views of Mount Tamalpais. This private, 1/4 acre property borders Open Space with direct access to miles of hiking trails. The Sunny and bright 3 bedroom/2 bathroom home is in a nature-lovers paradise with large gracious windows throughout. Open, split level floor plan, cathedral ceilings, large living room with fireplace. Spacious view deck for entertaining and a 2 car garage. Peaceful, park-like setting. Just minutes to Homestead Community center+ Pool & Whole Foods as well as an easy commute to San Francisco. It’s located on a private cul-de-sac in one of Mill Valley’s most sought after neighborhoods.

COMING SOON! If you have an interest in this property it can be seen before being staged and hitting MLS! Contact Liz today.

www.417Rydal.com

20 Elizabeth Place, Inverness

$1,375,000

5,000+ square feet

5 Bedrooms/4bathrooms

2 acres

This wonderful property, known as Point Reyes Vista, offers perhaps some of the most spectacular views in all Marin. The Pacific Ocean Farallon Islands are directly in front, The Marin headlands and glimpses of Tomales Bay to the West, and Olema Valley and Mt. Tamalpais are to the East. This 14 room, 5000+ square foot home on 2 acres has 5 bedrooms, 4 bathrooms, 2 grand living rooms, 4 out buildings, 2 ponds, 2 driveways, fireplace, wood stove, AC + Heat, & so much more! A portion of home is being used currently as a vacation rental, go to: www.PointReyesVista.com.

www.20Elizabeth.com

677 South Eliseo, Greenbrae –$589,000

2 Bedrooms/2.5 bathroom, plus 1 a large bonus room

1800+ square feet, one of the largest condos in Greenbrae I’ve ever seen!

This Greenbrae end-unit Condo is located in a rarely available small complex with water views. This spacious 1800+sf unit has two large bedrooms and 2.5 baths, plus an additional large room. On the main level the living room leads out to a deck overlooking the wonderful waterway views. There is a dining area as well as a separated large room that is currently being used as an office. The unit has incredible storage space with large closets and an attached garage with interior access. The small 10-unit Silver Pavilion complex has a swimming pool, sauna and a boat dock, and offers access to nearby bike trails along the waterway. This location offers an easy commute to San Francisco and excellent schools! Incredible $ per square foot value.

www.677SouthEliseo.com

Liz’s Current Escrows:

573 Idylberry Road, San Rafael – List price: $789,000

www.573Idylberry.com

59 Rockrose Way, Novato –List price: $549,000 short sale

www.59Rockrose.com

6 Park Crest Ct, Novato – List price: $259,000 short sale

www.6ParkCrest.com

7 Cecilia Court, Tiburon – List price $1,795,000 (representing buyers)

640 Cedarberry, San Rafael – List Price: $599,000 (representing buyers)

Liz Just Sold:

20 Woodland Rd, Fairfax $449,000 (represented buyers, was off market)

63 Alconbury Way, Novato $575,000 (represented sellers, short sale)

11 Maxwell Court, Mill Valley $1,590,000

142 Vida Court, Novato $639,000

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

95 Westwood Drive, Kentfield $2,799,000

WHAT IS YOUR MARIN HOME WORTH TODAY?

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

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

Of course, if you have any questions please call me at 415-250-4929 or drop me an email at Liz@BayAreaRealEstateSales.com

FORECLOSURES/BANK OWNED AND AUCTION PROPERTIES

Type	Number as of 4/21/11
Pre-foreclosure	431
Auction Sale	442
Bank Owned	432
TOTAL	1,305

Marin County Foreclosed homes

I’ve been tracking the Marin County Foreclosure data since April of 2009. The number of Pre-foreclosure homes continues increased quite a bit (431) from last March (387), and additionally the number of homes up for auction decreased 442 from 485. And the number of bank owned properties also increased 432 (from 418). and that are bank owned continues to inch up. The total number of distressed homes in Marin as of 4/21/11 is up from last month (1,305 versus 1,290).

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

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

MARIN SCHOOL, COMMUNITY & HOME SEMINAR

Starting in 2010 Liz starting conducting regular Marin School, Community and Home Seminars. To date, she has held 7 of these seminars to rave reviews! In these seminars, Liz goes over:

1. Marin Schools

2. Preschool information

3. Micro Climates of Marin

4. Commuting to and from San Francisco

5. Marin Communities

6. Average Home prices in different Marin towns

7. Current Mortgage Market update (given by a banking/mortgage expert)

In the spring, Liz has 1 dates set:

Monday May 16 from 7:00pm – 9:15

1040 Redwood Highway, Mill Valley

If you are interested in attending an upcoming seminar, you can find the dates, locations and details to RSVP here:

www.MyMarinHouse.com

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 and Blog:

What is happening in the Tahoe Market?

Click on the link above to view the graphs for this article: The graphs show numbers for Lake Tahoe real estate in 2011 compared to last year. Almost all numbers increased this year compared to 2010. Sales volume for single family homes increased by 23% and condos increased by 7%. The number of units sold also increased for both single family homes (6%) and condos (12%). The median price of single family homes increased by 11% and the average price of single family homes increased by 29%. The median price of condos increased by 15% and the average price decreased by 6%.

WHAT DO CLIENTS SAY ABOUT WORKING WITH LIZ MCCARTHY?

"We first met Liz through our local Southern Marin Mother’s Club and told her we were considering purchasing a home at some point in the future. As first time buyers, we presented Liz with the almost impossible challenge - to find a family home, on a large plot, in Mill Valley with a very very tight budget and she completely came through for us - not only that but we found our dream home in record time - after only 4 weeks of searching!!! Liz has great knowledge of the area, of what to look for in a property and she was honest with us when we presented ideas to her about what we could realistically achieve. Her experience and respect in the Marin real estate market was of a huge benefit to us when negotiating to buy our house, she made sure we were successful in our bid and we had a smooth transaction from start to finish. We thoroughly enjoyed working with Liz and would recommend her to anyone wanting to buy a home in the Marin area, her down to earth and friendly nature makes working with her a pleasure."

-Jon & Samantha Howe, Mill Valley, July 2010

Liz’s comments: The Howe’s are doing a major fixer on this home (it needed a LOT of work). Sam has a blog about the remodel, you can check on their project here: I don’t know how they are doing it, they have 4 people living in the house (one of t hem is a 3 year old) and Sam is pregnant with another baby! I can’t wait to see the final project. I checked in a few weeks ago and was already amazed at how much progress they had made.

http://howemoneypit.wordpress.com/

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