Posts Tagged ‘trends’
Marin Market Weekly Update 1.21.2011
Friday, January 21st, 2011
Enthusiasm in Marin Market
Wednesday, January 19th, 2011The first two weeks of January we are noticing unprecedented enthusiasm in the market as buyers are sensing that we are at the bottom. There is a notable lack of seller inventory and a pent up demand for buyers who have watched interest rates begin to rise. Recently a home that had been on the market in Kentfield for over $2M for over 200 days received two offers and sold at 95% of list. A house listed in Greenbrae at $1.3 is receiving at least 8 offers today.
Marin Market Weekly Update 1.14.2011
Friday, January 14th, 2011
Bay Area Prices Down An Average of 44% From 2007 to 2009
Monday, March 1st, 2010Thought that you would like a quick visual on the state of the Bay Area housing market.
The average price decline for the Six County Bay Area for the period 2007 to 2009 was -44%, arguably the peak of the market to the present day. However, the story isn’t uniform in every region, or in every neighborhood. The largest decline was in Contra Costa County, at an average decline of -52%, and the smallest decline was San Francisco County at -20%.
Whether you are buying or selling, estimating value today is a challenge. Always check the micro-markets of the neighborhoods that interest you. Recent monthly stats indicate that prices in the San Francisco area may be stabilizing and growing.
Marin Real Estate January 2010 Update
Friday, February 5th, 2010What is happening for Marin Real estate in January? It is often said that winter is a great time to purchase real estate in Marin. Many of my Marin buyer clients have purchased wonderful homes at great values in winter because the homes may not show as well or because the sellers have decided that they are committed to opening the next chapter in their lives and therefore will sell their home at “market value”. Market value is what a willing AND able buyer will pay. Today that means a lot of different things. What would you do if you encountered one of these 5 recent Marin Real Estate situations that all took place in Southern Marin in January?
1) The day before this house was to close and after removing contingencies the buyer walked. No fault of property; everything was ready to close–but the buyer lost their enthusiasm for the house overnight and decided to walk costing them 3% of purchase price.
2) The seller, after diligently working to prepare their home for sale and after less than a week on the market received an all cash offer well above the list price with only 3 days to remove contingencies. But the seller then changed their mind and decided not to sell. Buyer then offered more money hoping to sway the seller to no avail. Seller pulled the house from the market.
3) A high quality home underpriced by listing agents received 10 offers. Agents on the listing side were not easy to work with and did not divulge critical information necessary to make timely decisions. One of the highest bidders, an all cash offer walked because they couldn’t get the info they needed.
4) A Short Sale (seller owes more than house is worth) received 8 offers but no one knows what the bank will accept and how long it will take to negotiate-could be months, putting buyers’ needs in limbo.
5) A house on the market for over 100 days at a reduced price finally went into escrow for a first time buyer. The Appraisal doesn’t appraise due to issues pertaining to mold and the lender won’t lend on it. All these situations are real and require a tremendous amount of skill and diligence to work with to have successful results. It also takes a committed team of Real estate agents that are knowledgeable and professional to work through these issues which at times can be challenging. But you never know..it is my job to make sure that your transaction is as smooth and seamless as possible and you never know..it just might be that way! Check my website for the Marin Market Update for statistics on January activity by city and price point. Enjoy!
