Bay Area Real Estate Sales.com Newsletter

March 2007

 

IN THIS ISSUE:

Marin Home Sales Statistics

Marin Housing Market Sales Volume Jumps

What Did Your Neighbors’ House Sell For?

Is Shopping For A New House Driving You Crazy?

How To Sell Your Home At The Highest Possible Price

Update On Liz’s Micro Preemie Daughter

What Do Liz’s Clients Say?

Fast Facts

 

 

MARIN HOME SALES STATISTICS

 

These statistics show how many homes are available for sale in Marin, and of those how many are currently in contract (either pending or contingent. For the 6^th month in a row, the Marin overall real estate market is in a “Buyers Market.”

 

I feel that there has been a big shift in the market the last month. Unlike the last few months, there are approximately 100 LESS homes for sale this March (688) then there were in March 2006 (782). The percentage of homes in contract was very similar to February (28.78%) It is almost a Balanced Market (30%) and is fairly close to that of a year ago, when 34% of available Marin homes were in contract. As I predicted in last month’s newsletter the market seems to be more active, and other agents have confirmed this to me.

 

I believe that the market is going to continue to heat up. I personally know of at least 5 multiple offer situations in just the last week. A fixer property in Corte Madera ($1M) had 9 offers, a $1.7M fixer in Tiburon at 6 offers, and 2 completely rebuilt properties priced over $2M had over 2 offers each. I believe there were actually many more multiple offers

 

The overall Marin Real Estate market is in a “Buyers” market, where almost 29% of all listed homes are in contract, there are some interesting facts to note: Fairfax surprisingly heated up to an Extreme Sellers market, Corte Madera, Greenbrae and Larkspur (Central Marin) are all in a “Sellers Market”. Mill Valley and San Rafael are both in a “Balanced Market”, Kentfield, Novato, Ross, San Anselmo, Ross, and Tiburon are all in a “Buyers Market.” Belvedere and Sausalito both seem to be in the worse shape, as they are in a “Strong Buyers” market.

 

As far as price range break-down: as I mentioned earlier, the homes priced under $500,000 (are there any in Marin?) are in a Strong Buyers market, but this month, homes priced from $500K to $749 are in a Sellers Market. Homes priced from $750,000 to $1.99M are in a balanced market. What is very interesting to note is that homes in the $2M to $3M range are in a Balanced Market. Homes over $3M are in a Strong Buyers market.

 

I’m always searching for ways to bring my clients and readers more local real estate statistics. I’m pleased to announce the launch of my new Marin home Sales Statistics page. To view, go to: Marin Real Estate Statistics.

 

If you know of anyone who would like to receive this monthly newsletter or is thinking of either buying or selling a home please let me know. I’d love your referrals!

 

 

 

 

 

**Based on information from Bay Area Real Estate Information Services, Inc. (BAREIS). Information has not been verified, is not guaranteed, and is subject to change and is based on one period of time.”

***Includes all: Sale Pending & Contingent properties

 

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

 

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MARIN HOUSING MARKET SALES VOLUME JUMPS

(Data from DQNews.com and MarinIJ.com)

 

All Homes	No Sold Feb-06	No Sold Feb-07	Pct. Chg	Median Feb-06	Median Feb-07	Pct. Chg
Alameda	1,307	1,356	3.7%	$580,000	$585,000	0.9%
Contra Costa	1,426	1,160	-18.7%	$568,000	$537,000	-5.5%
Marin	219	228	4.1%	$799,000	$829,000	3.8%
Napa	99	93	-6.1%	$620,000	$612,500	-1.2%
Santa Clara	1,776	1,654	-6.9%	$667,000	$677,000	1.5%
San Francisco	429	375	-12.6%	$740,000	$757,500	2.4%
San Mateo	568	528	-7.0%	$735,000	$720,000	-2.0%
Solano	528	458	-13.3%	$455,000	$445,000	-2.2%
Sonoma	492	453	-7.9%	$529,500	$515,000	-2.7%
Bay Area	6,844	6,305	-7.9%	$618,000	$620,000	0.3%

Source: DQnews.com

 

 

The median price of a single-family home in Marin increased less than half a percent last month - to $929,500 - over the previous February, but saw the largest jump in sales volume - nearly 25 percent - among the nine Bay Area counties.

 

Single-family sales totaled 167 in February, up from 134 in February 2006, according to DataQuick Information Systems, a La Jolla-based real estate information service.

 

The jump is consistent with the real estate history of Marin County as far as sales go. Marin has limited new construction, top-notch schools and continues to be a highly desirable place to live.

 

The Marin median condo price rose by 2.3 percent to $544,000 last month, up from $531,750 the year before, and sales fell 12 percent to 58, from 66.

 

Marin's overall market activity was strongest in the Bay Area with the overall median price, including condominiums, increasing by 3.8 percent to $829,000 last month from $799,000 last year.

 

Marin also saw the largest increase in overall sales, which jumped by 4.1 percent to 228 from 219 last year. Overall sales in all other Bay Area counties dropped by 6 percent or more. To some extent today's market is the result of buyers and sellers locking horns, refusing to give in to the other side's idea of what a house is worth," said Marshall Prentice, DataQuick president. "But we're also seeing the after-effects of the historic housing boom of recent years."

 

WHAT DID YOUR NEIGHBORS’ HOUSE SELL FOR?

 

The Neighborhood Homes Sold listing is a weekly reader feature of the Sunday San Francisco Chronicle. The data posted here is typically recorded a few months after the property officially sold. This is the public data available in the published tax records. The home addresses, sales price, number of bedrooms, square footage and the year the homes were built are based on information supplied from Bay Area counties' property transaction records which, in some cases, may not be complete.
Previous editions of Neighborhood Homes Sold

Click on the following links to see what price homes sold for in your neighborhood:

 

03/25/07 03/25/07 Marin Home Sales

03/18/07 3/18/07 Marin Home Sales

03/11/07 03/11/07 Marin Home Sales

03/04/07 03/04/07 Marin Home Sales

02/25/07 2/25/07 Marin Home Sales

 

IS SHOPPING FOR A NEW HOUSE DRIVING YOU CRAZY?

By Liz McCarthy

 

Does this describe your typical Sunday? You start your morning with a cup of coffee pouring over Sunday's listings of open houses. You circle the ones you want to see, get out your map and then set out on a day of visiting houses. I've found that after viewing 4 or more homes, my clients find it difficult to keep houses' features separate. Here are some suggestions in your search for a new home:

 

Build an open house kit. Your kit should include a folder with pockets, pen, paper, home-shopping-checklist forms, paper clips or a stapler, and a digital camera.

 

Know your must-haves. It's easy when you are viewing a house that has an amazing city view and a beautifully redone kitchen to forget that the house doesn't have a 2-gar garage, which was one of your must-haves. If you have a printed list of what you are specifically looking for, you'll better be able to eliminate houses that don't match your must-have criteria. Remember, you said they were must-haves for a reason. You can use the form: Home Shopping Needs and Wants Checklist found on my website: Home Shopping Needs & Wants Checklist

 

Be realistic. I've had clients that had unrealistic expectations of "finding their perfect dream house." You may have to compromise on some of your wish-list items. Be sure to prioritize must-have "needs" versus nice-to-have "wants."

 

Keep a written log of all the houses you visit. You can use pre-printed Home Shopping Checklists like the ones found on my website: Open House Checklist . On this page you'll find a link to download a copy of this form to print out, make copies of and bring to the houses you visit. Take a few minutes to fill it out once you get back in your car. Take special note of any features you loved or that you really disliked. Staple or paperclip a copy of the house flyer to your checklist. Once you are back home you'll be happy to have taken the extra time.

 

Take pictures. Bring a digital camera with you and snap a few pictures of either features you love or that you don't like. You can also use a video camera or a digital camera that takes videos to record yourself pointing out special features. I've had clients form a mental picture of a feature inside a house (like a wall or windows) that didn't exist once they viewed the house a second time. If you don't have a digital camera, I'd be more than happy to take pictures of houses we visit together and give you a CD to take home with you.

 

Be prepared to act quickly. If you find a house that fits the majority of your criteria and fits all your must-haves, you need to be prepared to act quickly. The majority of home-buyers tend to want the same features, which means it's likely that the house will be sold by the next weekend. Have a pre-approval letter ready from your mortgage broker/banker.

 

Oh-no, there's going to be multiple-offers. In multiple-offer situations its best to imagine that another buyer got the house for a price that you would have been willing to pay. That should be your offering price! Put your best offer out there initially when there are multiple offers so that you can start spending Sunday's enjoying your morning coffee in your new home and thinking of the poor souls who are still in the hunt for the perfect house!

 

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

 

HOW TO SELL YOUR HOME AT THE HIGHEST POSSIBLE PRICE

Making a mistake in selling a home can cost you hundreds or thousands of dollars in lost profit. Often home sellers make the same mistakes over and over. Avoiding these mistakes is easy and takes little time and effort on your part. Take the time with your home sale and follow the guidelines in this report.

 

1. Distress Selling: At times, selling quickly is unavoidable. That’s when knowing the right techniques to sell your homewithout looking desperate and making yourself a target for low bidders really pays off. Know all there is to know about the market before listing and work hand in hand with the right real estate professional. Ensure that you are not settling for the first offer through the door.

 

2. Best Home in the Neighborhood: Your home is one of your most personal possessions. Don’t be blind to flaws and needed cosmetic improvements. This will cause overvaluing of the home, hurting it’s chances to be sold. Listing with the right agent gives you a well informed third eye that will help you price your home at a fair market price.

 

3. Limited Home Viewing: Buyers want to view a home on their own time schedule. Unfortunately their time schedule does not always coincide with your time schedule. Leave a lockbox or key with your agent so your home can be shown when you are not around. You never know if the one who got away was your buyer.

 

4. Restrain Emotional Decisions: Don’t allow a few hundred dollars to ruin a sale. That money will mean very little to you in the long run. Take a look at the big picture and react rationally. Use sound business judgment!

 

5. Make Cosmetic Improvements: Prospects make up their minds within the first twenty minutes. First impressions can make all the difference in selling your home. Spending $1,200 on new carpet might add another $4,000 to the price of your home. Get an objective point of view from your real estate professional. They can provide you with a list of items that will maximize the profit of your home sale.

 

6. Disclose Property Flaws: Property disclosure laws require sellers to list any flaws required by your state. If you are unaware of flaws or attempt to cover them up, you risk losing the sale and finding yourself in court. Get professional assistance from your agent who can introduce you to qualified inspectors and ensure the smooth sale of your home.

 

7. For Sale By Owner: Most homeowners who decide to sell their own home do so because they believe they can save the commission paid to the real estate agent. Everything has a price and selling a home carries a high one. The enormous amount of time and effort required to sell a home often surprises the "For Sale By Owner." Furthermore, many costly mistakes can be avoided with the right guidance.

 

8. Refusing to Trust Your Agent: Would you tell a physician that you’ve decided to run your own tests and come to your own diagnosis? By choosing the right Realtor, you can relax and trust their judgment. The right agent is a valuable team member who will protect your best interests and make your sale as profitable as possible.

 

9. Know Your Market: Most homes that do not sell in their first listing period are priced too high. Conversely, most homes that sell quickly are priced too low and cheat the homeowner out of profits. You need to understand the market and evaluate the value of your home based on fact, not gut instinct or conventional wisdom. A professional agent knows the market, just as you know the market for your business.

 

10. Choosing a Realtor Based on Personal Relationships: Home sellers often pick a friend or family member as their agent. Choose an agent with a strong track record and aggressive Marketing Plan. A top producer knows the market well and can generate many buyers. Selling your home is one of the most important decisions you’ll ever make! Base it on good, sound business sense and the rewards will add up.

 

Before you make one of your most important decisions regarding your home sale shouldn’t you become as informed as possible? By aligning yourself with a top agent you ensure that all the important issues and seemingly insignificant but....very important....details are handled professionally. Your home sale should not be a grueling ordeal. The more informed you are, the better chance you have of making a sound business decision.

 

UPDATE ON LIZ’S MICRO PREEMIE DAUGHTER

 

Many of my clients are aware that I gave birth to Micro Preemie Twins 13 weeks early in October of 2005. Both of my daughters together weighed a tad over 3 pounds. Sadly, my first born, Corinne only lived for 3 hours. Her surviving twin, Kaitlyn spent 127 days in the NICU. Kaitlyn has been home with us now for over a year and is 17 months old. She is doing amazingly well for how sick and tiny she was at birth.

 

March 2007 Update: She was quite sick a month ago with a respiratory infection and lost a pound. Her overall weight is now close to 20 pounds. (That’s more than 12 times her birth weight: 1.5 pounds). We were lucky to stay out of the hospital however.

 

She has learned to walk on her own, but still prefers to use mom’s finger or any available furniture. All of therapists are amazed at -Kaitlyn’s motor skills, she really is a miracle how far she has come. Kaitlyn’s vision was recently re-checked and she definitely has some impairment. She just got her first pair of eye glasses a week ago, and we were surprised how quickly she took to wearing them; I think she must know how much clearer things look. We’ve found that she is smiling a bit more and it has helped her walking skills immensely.

 

Sadly, she still does have some medical issues that we are dealing with on a daily basis. She has a paralyzed vocal chord and doesn’t vocalize much. Kaitlyn doesn’t eat anything by mouth; she is fed 100% via a feeding tube, which has been surgically implanted into her stomach - she has horrible reflux and oral aversions and still vomits multiple times a day. She is also socially delayed; she only started smiling a few months ago. After spending your first 4 months of life in a hospital being prodded and poked and then vomiting every day since, I don’t think I would smile much either. With all she’s been though she’s an incredibly good natured baby.

 

I have been changed forever by experiencing the pain of loosing a child and having a medically fragile daughter. I have been amazed by all the people that have reached out to us to give us support during these tough times that I want to try to give back to the community of premature babies. I have started a local support group for preemie moms, a support group for children with feeding issues, as well as a virtual micro preemie support group. If you know of anyone who can benefit from these groups, please let me know! I continue to chronicle Kaitlyn’s progress and am absolutely amazed that her blog has received 90,000 visits! She has a fan base from all over the world. If you would like to check in on Kaitlyn, you can visit her blog at: http://lizmccarthy.blogspot.com/

 

WHAT DO LIZ’S CLIENTS SAY?

 

“Liz McCarthy represented us when my husband and I recently bought our condo. She has a great personality. We both liked her a lot and felt like she was very thorough, honest and hard working. She always took the time to check in and update us on how things were progressing with the sale. We felt like Liz had our interest in mind and was looking out for us. We didn't feel pushed like some realtors can make you feel.

 

My husband and I would definitely recommend Liz to our friends. We had a very pleasant experience and we look forward to working with her in the future.”

-Anja & Antonio Volpicelli, General Manager Frantoio Italian Restaurant, Mill Valley

 

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

 

“High-Touch through High-Tech”: Did you know that Liz McCarthy is ePro Internet Certified by the National Association of Realtors and that 70 percent of home buyers today use the internet in their home search? Why are you still working with a Realtor who isn’t a technology expert?

 

What this means to you:

 

Home Buyers: Liz is an expert in helping save you time by using the internet, email and other technology resources to help save your valuable time and money. She knows how busy you are!

Home Sellers: Liz will hire a professional photographer and market your home extensively on the internet: a personal property website (see www.417Greenfield.com or www.50milland.com for samples), she will post your home on over 50 websites.

 

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FAST FACTS

 

Marin median SFR + condo price– Jan07: $865; 2006: $864,000 [Source: BAREIS]

Marin average SFR + condo price-: Jan07: $1,133,000; 2006: $1,089,129 [Source: BAREIS]

Marin median SFR home price – Feb 07: $950,000; 2006: $956,000 [Source: BAREIS]

Marin median condo price – Feb07: $551,000; 2006: $548,000 [Source: BAREIS]

 

Calif. median home price –Jan 07: $559,640) [Source: C.A.R.]

Calif. highest median home price Jan 07: Santa Barbara So. Coast $1,150,000 [Source: C.A.R.]

Calif. lowest median home price by C.A.R. region Jan 07: High Desert $317,380 [Source: C.A.R.]

Calif. First-time Buyer Affordability Index - Fourth Quarter 06: 25 percent [Source: C.A.R.]

 

Mortgage rates - week ending 3/15/07: (Source: Freddie Mac)

·          30-yr. fixed: 6.14%; Fees/points: 0.4%

·          15-yr. fixed: 5.88%; Fees/points: 0.4%

·          1-yr. adjustable: 5.42%; Fees/points: 0.7%

 

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

 

Be sure to check out all the other great content & features of my website:

www.BayAreaRealEstateSales.com

 

The Bay Area Real Estate Newsletter is provided to you by:

 

Liz McCarthy

“High-Touch through “High-Tech”

Real Estate Broker, e-PRO certified

Vision Real Estate

Liz@BayAreaRealEstateSales.com

415-250-4929

 

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