Marin Home Sales Soar! Some tips for you-

Below is an article from the Marin IJ. "Marin Single Family Home Sales Soar".   Prices are creeping up, in response to supply and demand (low supply, high demand), low mortgage rates and comparatively low prices (relative to the peak of 2006 – 2007). Chances are, if you’ve been looking for a home for some time, that when you DO find the “right” home, a dozen other Buyers will think it’s the right home for them too. How to remain competitive, as a Buyer in this sort of a market?

1. Move your price point DOWN 10%, to give you room to respond in a multiple offer situation.

2. Re-examine older listings that have failed to sell and in this case examine 10% ABOVE your target price. Sellers may not reduce their price on the MLS, but after 45+ days on the market, may be softening on their attitude to offers at less than the stated asking price.

3. Re-examine your “wish list” to see if some previously “must haves” have become negotiable.

4. Write offer terms that are quick, clear and clean. Can you pay “all cash”? Can you inspect before getting into contract, so that you do not require inspection contingencies? Can you close in less than 30 days? All of these “tighter” terms will make your offer more competitive.

Buyers are finding homes every day, as this article demonstrates— by thinking “outside the box” you can be one of them! Call me with any questions or further thoughts.

Best, Susan


Marin Independent Journal

Marin Single-Family Home Sales Soar

By Janis Mara

Marin Independent Journal

Posted: 08/16/2012 04:11:51 PM PDT

Marin single-family home sales shot up in July and the median sale price increased to $820,000, according to figures Thursday from the county assessor's office.

A total of 248 single-family home sales were recorded in Marin in July, up 113 percent from 116 a year earlier and the highest monthly figure since June 2011. The median sale price was up from $790,000 in July 2011.

Total condominium sales rose 27 percent year to year, to 65 in July, up from 51 in the same month in 2011; the median condo price was $349,000, compared with $339,000 a year earlier.

"This isn't surprising, because we are seeing pressure on prices now," said George Crowe, a Realtor with Alain Pinel in Corte Madera. "So many houses are getting multiple offers and getting bid up over asking price, so that's going to bring up the median price."

The law of supply and demand is one of the factors behind the price increases. Crowe said inventory is tight in Marin, a phenomenon that began sometime around April.

Only 569 single-family homes were on the market in Marin in July, compared with 772 in July of last year, according to Bay Area Real Estate Information Services, a multiple listing service.

The number of condos for sale dropped even more dramatically; there were 240 condos on the market in July 2011, compared with a mere 92 this July.

"There was a glut of condos for awhile and prices dropped, but that probably ended a year ago," Crowe said. "It was hard to sell condos for awhile, but that has changed."

A total of 262 properties on the market entered a contract for a pending sale in July, and the exact same number of properties entered such a contract a year earlier.

"Inventory has shrunk and even the rental market is very tight," said Jeff Marples, a Sausalito real estate broker.

"People are getting more optimistic and saying, 'Rather than taking a loss, I will hold on and rent my house because I can rent it for more than my mortgage,'" Marples said. That way, the broker said, homeowners can keep their homes and wait to sell when the market is better.

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Market Continues to Stabilize- A Window of Opportunity

Low mortgage rates and a low inventory of homes for sale continue to result in increased numbers of homes sold and increasing prices in many towns in Marin.  What does this improvement look like?  Sales results for “move-in ready” up-to-date homes are responsible for much of these improving results.  Results for homes that require updating—cosmetic, structural or both—are still sobering.  Across the board, accurate pricing based on a realistic analysis of the comps is essential.  Buyers remain well-educated and savvy, ready to pay for value when they see it, but expecting appropriate adjustments for homes that need work of any sort. 

If you have been waiting to buy or sell, “until the market improves” this could be your window of opportunity.  

Call me today for a fact-filled, pressure free conversation about how I can help you get the best results possible!

How's the market at the end of the 1st Quarter? "Multiple Offers and Brisk Sales"

It’s the end of the first quarter and already 570 homes have sold this year. And another 547 are under contract to sell. Technically, this is a Sellers’ market and we are seeing multiple offers and brisk sales throughout the county. So, what’s going on? Simple:


1. Very little inventory (i.e., property) for sale—very good for Sellers.


2. Low home prices.


3. Historically low mortgage rates (3 7/8% - 4 1/8%)—very good for Buyers.

It’s unusual to have these conditions occurring simultaneously. If your life circumstances (or those of someone you know) would be improved from changing where you live (kids grown--time to downsize, new baby on the way--need more space, loss of a spouse or partner, marriage, divorce, job transfer etc., big bonus, reduced income) call me! I can advise you on how to structure your sale or purchase strategy to get the best of what this market has to offer.

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

How's the market in early 2012?? Marin County Real Estate

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!