Bay Area Real Estate Sales.com Newsletter

June 2011 Marin Real Estate Stats

In This Month’s Issue:

Check Out Liz's New Video on You Tube:

June 2011 Marin Real Estate Market Update

See Liz’s Listings & Buyers Needs

What Is Your Marin Home Worth Today?

Foreclosures/Bank Owned And Auction Properties

Search The Marin Homes For Sale

Marin School, Community & Home Seminar

Looking For A Vacation Home In Lake Tahoe?

What Do Clients Say About Working With Liz Mccarthy?

JUNE 2011 MARIN REAL ESTATE MARKET UPDATE

There are currently 1513 active homes and condos for sale in Marin County. 473 of these homes (31%) are currently under contract, which equates to a “Balanced Market”.

Single Family Homes: The current average active/contingent home price for Single Family homes in Marin as of 6/14/11 is $1,552,000 and the median is $889,000. For the month of May the Average selling price was: $1,133,000 and the median was $799,000. In March it took 97 average days for Single Family Homes to go into contract. The overall Marin asking price per square foot is $456/sf down from my April where it was $495/square foot.

Condos: The current average active/contingent home price for Condos in Marin is: $424,000 and the median is: $342,000. The average sold price for Condos in Marin County for the month of May was: $373,000 and the median: $310,000.  It is taking an average of 78 days for condos to go pending. The overall Marin asking price per square foot for condos is: $281/square foot (down from April’s $291/sf).

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

The headlines continue to state that the real estate market is falling apart, that we are years away from recovery, but from my experience, here in Marin County, the Marin Real Estate Market seems to be alive and well. There was one house in Corte Madera that was rumored to have 11 offers come in! This house list price is $999,000. (34 Ash Ave, 34 Ash, Corte Madera 11 offers!

I personally have been involved in 4 multiple offer situations for my buyers and my listings have been receiving multiple offers.

Take that main stream news! There are a lot of home buyers out there taking advantage of the historically low interest rates. All experts agree that interest rates are going to go up, it’s just a matter of time. Borrowing money is going to continue to get harder as Freddie Mac and Fannie Mae tighten up lending requirements. A 1% increase in interest rates equates to an approximate 10% fall in prices.

Here in Marin we are experiencing a recovery in our clients' confidence. I 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 quicker due to all the reasons people live in Marin: Our schools, close to San Francisco, natural beauty, open space and more.

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/Central Marin.

As I am a member of the by invitation, two Marin Top agents groups: Top Agent Network and Marin Platinum Group, I continue to receive “Home Buyer Alert” emails from agents who have buyers looking to spend $1.5 - $3M and looking for family oriented homes. There seems to be a serious lack of inventory for these flat yard homes in walk-to-town locations. Most of the inventory that is sitting and not selling tend to be homes that don’t have the ideal family-oriented floor plan or location, or are priced to high.

So home sellers take note, if you want to sell in this market, your home needs to be competitively priced, well staged and finished and be in a move-in condition. The more family-friendly features the house has, the price can go up $/sf. The more the house is located up windy roads, with no flat yard, the $/sf needs to be decreased.

I’ve also noticed that the rental market has become very competitive. There seems to be a general lack of available rental homes in Marin, particularly in good school districts.

What Type of Market is Marin In?

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.

Analysis by City:

Looking at data as of 6/14/11, the following towns are all in a “Sellers Market”: Greenbrae and Novato (with 36%-45% of all homes for sale in contract) and Fairfax in a “Strong Sellers Market” with 50% of all listed homes in contract! Larkspur, San Anselmo, Sausalito and San Rafael are in a healthy “Balanced Market”. And the following towns: Belvedere, Corte Madera, Kentfield, Mill Valley are in “Buyers Markets”, and lastly, some of the most expensive zip codes: Ross and Tiburon area all in “Strong Buyers Markets”.

Analysis by Price Range:

Homes priced under $750K are moving quickly in a “Sellers Market”, with 36% - 43% 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 - $1M are in a “Balanced Market”. Homes priced from $1.M - $2M are in a “Buyers Market”. But interesting to note that homes priced from $2M - $2.5M have really slowed down in sales, and are in an “Extreme Buyers Market”, with only 10 of listed homes under contract, and homes priced $2.5 - $2.9M are perfuming a bit better in a “Buyers Market”.

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

SEE LIZ’S LISTINGS & BUYERS NEEDS

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.

Liz’s Buyers

Liz is currently working with a number of buyers who are ready to purchase a home right away. Here are some of what Liz’s clints are looking for, if you know of anyone selling a home that fits, please contact me right away!

NF: is looking for a home in San Rafael or San Anselmo in the $750,000 price range. Ideally this home will have views, a garage, is not on a busy street, and has period details (built in the 1920’s or so).

RM: Cash buyer. Is looking to purchase a home in Central Marin (Larkspur, Greenbrae Corte Madera, Kentfield or San Anselmo). This needs to be a family focused house with a flat yard that is out the family room, 4 bedrooms. $2,000,000+ range

KD: is looking for a family oriented house in Tiburon. 4BR preferred $1.7 range, does need to sell their SF house first

MF: a single woman, looking for a condo or 2 BR house, preferably in MV. Range Up to $750K

CB: A single mom, looking for a condo in Mill Valley, Up to $600K

PS: Just relocated from over-seas. Looking for a family friendly house in Mill Valley, up to $850K

Liz’s Listings:

143 Forbes Ave, San Rafael – Just Listed!

$645,000

2 Bedrooms/1 Bathroom

1000 square feet

This charming sunny and bright one level home located on a wonderful lot in the highly-sought after Forbes Neighborhood in San Rafael. This home features period details, wide-planked wood floors, decorator colors, a large fireplace, built-in bookshelves surrounding French paned casement windows. It has two covered porches, a large level lawn with mature and colorful landscaping, one car attached garage and additional off street parking. Located on the highly coveted Forbes Avenue which is an easy stroll to down-town, Sun Valley Park / playground as well as the top rated Sun Valley Elementary school.

www.143Forbes.com

33 Calumet, San Anselmo – Sale Contingent, Short Sale

$799,000!!

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

314 Rydal Ave, Mill Valley – Sale Pending

$849,000

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.314Rydal.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:

15 Toyon, Belvedere $1,550,000 (representing Buyers)

33 Calumet Ave, San Anselmo $799,000 www.33Calumet.net

314 Rydal Ave, Mill Valley $849,000 www.314Rydal.com

267 Elvia Court, San Rafael, $479,000 www.267ElviaCourt.com

Liz Just Sold:

2011

573 Idylberry Rd, San Rafael $759,000 (represented Sellers, sold off-market)

59 Rockrose, Novato: $505,000 (Represented Sellers)

640 Cedarberry, San Rafael $550,000 (Represented buyers)

6 Park Crest Court, Novato - $230,000 (represented seller and buyer)

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

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

2010

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

95 Westwood Drive, Kentfield $2,799,000

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

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

2. 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

I’ve been tracking the Marin County Foreclosure data since April of 2009. In June 2009, there were a total of 1,033 total distressed homes in Marin County (per the County Tax records) and as of June 2011, the number is 1,297. The number of Pre-foreclosure homes continues increased quite a bit (441) from last March (387), and additionally the number of homes up for auction decreased 430 from 485. And the number of bank owned properties also increased 426 (from 418). The total number of distressed homes in Marin as of 6/14/11 is actually down from April 2011 (1,297 versus 1,305). Unfortunately, the number of bank owned properties (426) correlates to a 2 months supply of inventory. Now it doesn’t’ mean that all of these 426 homes are listed for sale on the MLS.

Doing a quick search in our MLS, I show that currently 98 Bank owned homes are listed for sale in Marin County and 306 homes are listed as a short sale. What is a short sale?  A short sale is a sales transaction in which the seller's mortgage lender agrees to accept a payoff of less than the balance due on the loan.

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

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SEARCH THE MARIN HOMES FOR SALE

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

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MARIN SCHOOL, COMMUNITY & HOME SEMINAR

Are you considering a move to or within Marin County?

Starting in 2010 Liz starting conducting regular Marin School, Community and Home Seminars. To date, she has held 10 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)

Next Seminar date:

Saturday 6/18/2011

10:00am – 12:30 pm

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 are thrilled to finally have found in our dream home in Marin County! After years of casually browsing the market, a new baby put our house hunt on the fast track and we enlisted the services of Liz McCarthy to help us in our search.

As a young family starting out as first time home buyers, the process was somewhat daunting. Having Liz in our court made all the difference. She manages to be incredibly professional and genuine at the same time. She listened to us and took the time to get know us exactly what we were looking for in a property. She was proactive in our search and always right on top of new listings that fit our criteria.

Within months, Liz found the cottage of our dreams in Fairfax and helped us get an offer in before it even made it to the MLS!  It became clear immediately that other agents loved the opportunity to work with Liz as much as we did. We can honestly say that without Liz as our agent, we would not be living here now! Many thanks to Liz and her team at McGuire. We look forward to working with her again in the future and recommending her services to anyone in Marin. “
-Brad, Becky and Harlow McCutcheon, Fairfax, March 2011

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, Top Producer

2010 President Marin Women’s Council of Realtors

Top 5% of Marin agents 2010

Verified members of Marin Top Agent Network & Marin Platinum Group

415-250-4929

Liz@BayAreaRealEstateSales.com

www.BayAreaRealEstateSales.com

www.MarinwoodRealEstateBlog.com

Facebook: http://www.facebook.com/lizsmccarthy

Twitter: www.twitter.com/lizsmccarthy

DRE License Number: 01421997

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