How's the market in early 2012?? Marin County Real Estate
Wednesday, February 1, 2012
The market is still in the process of stabilizing; the number of homes selling is increasing, but prices generally are vulnerable.
Low interest rates are fueling activity
Distressed sales will continue into 2012
Homes in current, move in condition are selling far quicker and for more money than homes that aren’t.
If you are planning any changes for 2012, let’s talk now so I can help you formulate the most profitable strategy possible!
My promise to you remains unchanged: candid, truthful and professional real estate advice and services. Always!
Posted bySusan Coleman at 5:21 PM 0 comments
Labels: 2011 Real Estate, 2012 Real Estate, Marin County, Marin Real Estate, San Rafael Real Estate, Top Agent, Top Agent Marin, Top Producer
3rd Quarter 2011- Hot Pockets and Distressed Owner Services
Tuesday, October 11, 2011
Mortgage rates dipped below 4% for 30 year, conventional mortgages and just in time, as conforming loan limits (the maximum mortgage amount that will be guaranteed by Fannie Mae, Freddie Mac, or FHA) for Marin have been reduced from $729,750 to $625,500, effective October 1, 2011. So, assuming a 20% down payment, homes costing more than $781,875 will require "jumbo" mortgages and "jumbo" pricing. This compared to $912,188 at the old level. Still a great time to be a Buyer and indeed to be a Seller as the low mortgage rates mean Buyers have more to spend and more Buyers will be able to qualify.
Our market continued largely as it has for the last 2 quarters: the number of homes sold is increasing, but prices remain weak. Homes are selling and selling well, if they are priced realistically for this market. We saw flurries of activity this quarter (yes, with multiple offers) in some of the higher priced segments of some cities. These hot pockets were transitory however. Expect this to continue until jobs, jobs and jobs start to recover.
And finally, while I have been successfully advising buyers and sellers on short sales for some time, I am pleased to announce that I now hold the SFR (Short Sale & Foreclosure Resource) certification from the National Association of Realtors. If you know anyone who wants/needs information on the plusses and minuses of a short sale, I guarantee a confidential, informative and helpful conversation.
Posted bySusan Coleman at 3:09 PM 0 comments
Labels: 2011, distressed owner services, Jumbo loans, Marin County, Marin Real Estate, Mortgage Rates, Short sales
Pragmatism - 1st Quarter 2011 Update
Thursday, May 5, 2011
In general terms, the market continued to show solid gains in the number of homes selling, with 382 single family homes selling in Q1. (509 units, when condos are included). Prices, however, were lower in 8 of 13 of Marin’s communities, demonstrating that Sellers are still having to be pragmatic in this market. The rough decline since the “peak” in 2007? Approximately 20% overall in Central Marin. I’m hearing less from Sellers about “waiting for the market to ‘recover’ ” before selling, though many continue to rent out their properties. If that can be done at a positive or neutral cash flow, great. If not, the monthly negative cash flow pushes the so called “recovery” date even further into the future. As I’ve stated before, the decision to act or not, really depends on where you want to go next, literally and figuratively. Buyers continue to be extremely well informed on prices and relative values, thanks to the internet. Most will hold out for the right home, in the belief that prices will remain stagnant or weak. Continued low interest rates are benefitting both Buyers and Sellers. Look for an active Q2 as sales delayed from Q1 due to wet weather, get underway.
My promise to you remains unchanged: candid, truthful and professional real estate advice and services. Always!
Posted bySusan Coleman at 3:34 PM 0 comments
Labels: Buyers, Marin Real Estate, Mortgage Rates, Real Estate, Sellers
Market Update- "Consolidation Continues"
Wednesday, March 2, 2011
For the most part, Sellers came to terms with the "new" market in 2010. Slightly more than 3 years after the first credit difficulties emerged in the sub-prime market (8/07), the data show an increase in the number of single family homes sold in Marin, 2010 v. 2009, in all cities except Ross and Novato. However, the prices at which sales are occurring were lower in 2010 than in 2009 in over half of our cities. In other words, despite lower prices in some towns, Sellers are indeed moving ahead with their lives. Sales were advanced into Q1 2010, due to tax incentives aimed at both new and experienced Buyers, which then expired in April. In 2011, I expect a continued pragmatism on the part of market participants. We’ll likely see more short sales and indeed foreclosures in the middle and higher end of the market. Mortgage rates are still extremely attractive, and represent an opportunity for both Buyers and Sellers.
My promise to you remains unchanged: candid, truthful and professional real estate advice and services. Always!
Posted bySusan Coleman at 1:29 PM 0 comments
Labels: Buyers, Marin Real Estate, Mortgage Rates, Real Estate, Sellers
Has the Market Bottomed Out?
Monday, November 1, 2010
One of the ways Realtors, including this one, get new listings is by calling "expireds"—the loose trade term for those listings which did not sell, and have expired or in fact been cancelled. The idea is that the Sellers of these homes are the most motivated and represent one of the best opportunities for doing business in the near term. Sometimes the home was marketed ineffectively: poor exposure, lousy photos, inadequate knowledge of the amenities. Sometimes it’s as “simple” as unrealistic pricing. No matter what the reason for not achieving a sale, the subsequent actions of these Sellers can provide a good indicator of what Sellers at the forefront of the market are thinking. And right now, many of them are choosing to lease out their properties, rather than reduce their price to achieve a sale. Many of these properties, my latest rough estimates are as high as 30%, are being leased out until the Spring selling season, when the thinking goes, sales will pick up . . . . are these Sellers just putting off the inevitable or is this trend a signal to Buyers that this really is the bottom? We never know until the bottom is behind us, but many of us in the real estate business can’t believe the deals that are out there for Buyers right now. Couple this with incredibly low interest rates (30 year conventional mortgages as low as 4.0% recently) and it’s a hard market to beat for value. And those low rates benefit Sellers too, by enabling more ready, willing and able Buyers to be active. Why wait?
Regular quarterly statistics: see my website: www.MarinHomeProperties.com
Posted bySusan Coleman at 1:20 PM 0 comments
Compelling Stabilization
Thursday, July 1, 2010
The trend toward stability continued with increased numbers of homes selling in all Marin towns, except Ross, where the number of homes sold is usually so small, one cannot really discern a trend. Prices showed mixed improvements, reminding us again that the answer to “How’s the market?” depends on property price range and town. One of my colleagues, in giving me feedback on one of my listings, just used a word that perfectly captures Buyers’ attitude: “compelling”. Homes must be marketed to show compelling features that translate into lifestyle benefits in order for a Buyer to make an offer. And, in this credit scarce market, the compelling features have to significantly outweigh the challenges of the home. Why? Because 1200 single family homes are currently available for sale in Marin. 214 sold in June. Technically, this is approximately 6 months worth of inventory, and is termed a “neutral” market, but the sheer number of homes available means that Buyers will view a lot of homes before making a purchase decision.
Need help understanding what you can achieve in this market? Call me today for a fact-filled conversation--guaranteed confidential and pressure-free!
Posted bySusan Coleman at 1:44 PM 0 comments
Marin Real Estate Update- First Quarter 2010
Friday, April 2, 2010
Stabilization continued across most towns in Marin during the First Quarter. Most of the market forecasters that I’ve read predict continued stabilization, but no real appreciation to speak of for the next 3 years and some predict longer than that. I rarely hear Sellers saying “I’ll hold off selling until the market recovers” anymore. Why? Because we are finally understanding that “recovery” probably doesn’t mean the sustained levels of double digit appreciation that we saw several years ago. So, Sellers are getting on with their lives and it shows in much more realistic listing prices. Are you renting out your property, waiting to sell until the market improves? Check that your negative carry isn’t pushing your breakeven sale price even further out into the future. Call me if you’d like me to run some numbers for you. In the meantime, Buyers continue to press their advantage, and are only submitting offers to purchase when properties evoke a “wow, that’s a good value” response. Buyers really are doing their homework; expect a flurry of activity as the Federal tax credits for homebuyers expire at the end of April.
Need help understanding what you can achieve in this market? Call me today for a fact-filled conversation--guaranteed confidential and pressure-free!
Posted bySusan Coleman at 8:00 AM 1 comments
