Q4 2017 Market Update: What? Tax Reform?

Marin County median prices edged up yet again, by an overall 5% for 2017.  Interestingly, some of the biggest gains were in the most expensive markets, contrary to expectations that reduced deductions from property taxes and mortgages would put a damper on high priced homes.  Tiburon (+21%), Kentfield (+28%). 

As the full implications of the tax changes are digested, look for increased competition for homes under $1MM, where property taxes will still meet the $10K per year limit on deductibility.  2018 is expected to be another year of appreciation in our market. 

Call today for a consultation about home buying and selling strategies that will deliver the real estate experience you seek!  I guarantee a fact-filled, pressure-free conversation!

My promise to you remains unchanged: candid, truthful and professional real estate advice and services. Always!       

2017 3rd Quarter Update

Tragic Wine Country Fires

Though technically the fires did not happen in the 3^rd quarter, it seems impossible to think of anything else right now. I trust that you, your family, friends, pets, and businesses are all safe. If you or anyone you know needs information or assistance with real estate related matters, I can help; just give me a call. The sheer number of people displaced and needing replacement housing suggests that effects will be felt here in Marin and indeed in the greater part of the Central and North Bay areas. Some displaced people will look to make a permanent change, others will rent and begin the process of rebuilding. 80% of owners rebuilt after the Oakland Hills fire. Early indications are that rents in Marin will increase (any increases about 10% are considered “gouging” and are a punishable offense, according to a front-page Marin IJ article 10/19/17). Expect some homes currently “For Sale” to be withdrawn and relisted as “For Rent.” Some displaced residents will buy, figuring the time to rebuild will take several years at least. Overall, I expect the fire will produce firmer rental rates and sales prices. 

2017 Q1: Appreciating Market Rises Again

Just when we thought the market was flattening out after 6+ years of appreciation, it has come roaring back this Spring. Long-awaited interest rate increases and high employment are producing exceptionally strong sales prices. Thinking of selling? Don’t wait- let's list your home now. Thinking of buying? Let’s design a savvy strategy that keeps you ahead of your competition and gets you your dream home now.

Year End 2016: Something for Everyone!

Year End 2016: Something for Everyone!

Buyers still have historically low rates, Sellers have high prices. 2017 is the year to fulfill your property objectives. 

Prices continued to moderate as the year drew to a close, ending the year up 8.1% overall versus 13.6% and 9.4% for 2015 and 2014 respectively. Increased interest rates, political concerns, and normal cyclical pressures all combined to produce a positive, but more moderate year. Most real estate professionals expect more of the same as we get underway in 2017. And lets face it, 8+% is still an incredible result! 

2016 Q1 Market Update- Marin County Single Family Home Sales

2016 Q1 Market Update: Say it isn’t Slow!
Overall, Marin house prices continued higher, but in individual towns, some were up, others down. Could this be the beginning of price moderation? This has been a topic of conversation amongst real estate professionals for several months now—the fact that the market feels as if it is slowing down. Whereas 2 years ago, we might see 10 offers on a property, now it is closer to 3-5. And wow, we are starting to see real negotiations taking place and with them, monetary concessions from Sellers. Still a high priced market, to be sure, but some welcome moderation is returning. A “normal”, balanced market would make for a nice change! Call me today for ideas on how YOU can benefit from these market shifts. 

2015 3rd quarter update

Market Update Q3 – 2015:  Pausing for Breath

Overall Marin activity for Q3 ’15 shows little change from last year at this time.  Units sold were up less than 1% and prices were up less than 1/2%, confirming what real estate professionals have been feeling for the past 4 months, a moderating market.  One of the key metrics that agents track is the proportion of MLS listed properties that are under contract.  In April 2015, 50% of the 776 MLS listed properties were under contract.  Now, 6 months later, 40% of the 759 MLS listed properties were under contract—a 10% decline in this important metric.   Out in the field, we are still seeing multiple offers, but instead of 10, we may be seeing 3-5.  And properties are taking longer to get into contract.  This moderating trend is giving exhausted Buyers new energy and opportunities for accepted offers. 

3^rd Q ended with average single family home prices reaching $1,371,375, an impressive 10% increase from 2013. Good news for Sellers; for Buyers too. Higher prices mean more Sellers are 
now willing to list/sell! The supply of homes available for sale is still below long term trends (2.3 months  of inventory versus something like our “normal” 4 – 4.5 months), yet is significantly higher than the 1.25 – 1.5 months of inventory which we were seeing at in the 1^st quarter of this year.  And mortgage rates are declining again, with some 30 year jumbo loans below 4.0%. With more selection and lower mortgage rates, motivated Buyers can still find their dream home before the end of the year!  Call me today to discuss your objectives for buying or selling as we move toward 2015!