May Marin Real Estate News

May Main Real Estate News

Bay Area Real Estate Sales.com Newsletter

May 2008

IN THIS ISSUE:

Marin Home Sales Statistics

More Detailed Analysis of The April Marin Market

Forecasters See Weak Economy Even If Housing, Credit Improve

2007 Cost Vs Value Remodeling Report Now Available

What Did Your Neighbors' House Sell For?

Search the Marin Multiple Listing Service for A New Home

Fast Facts

The Bay Area Real Estate Newsletter Is Provided To You By:

MARIN HOME SALES STATISTICS

By Liz McCarthy

The overall Marin Market is again in "Buyers Market" category for the 4^th straight month in a row. Kentfield, interestingly is in a "Balanced" Market as my most recent stat analysis as of Mary 21, 2008. For more details on the April market, see the story below:

More Detailed Analysis of The April Marin Market Be sure to check out the individual cities and price ranges of homes you may be interested in buying/selling in the chart below. Homes priced over $3M are in an "Extreme" or "Strong Buyers Market" category.

There is a lot of great information contained in this month's newsletter. I hope you find it informative.

If you would like to see all of the recent home sales (by address) in Marin my Real Estate company (Vision Real Estate) publishes these here: http://westbayre.com/frame_main.htm

MARIN HOME (CONDO + SFR) SALES STATISTICS - BY CITY AS OF 5/21/08
City	Total	Active	Number in Contract***	Percent in Contract*	Type of Market* (See Key)
Belvedere	21	18	3	14%	Strong Buyers
Corte Madera	46	33	13	28%	Buyers
Fairfax	41	33	8	20%	Strong Buyers
Greenbrae	28	23	5	18%	Strong Buyers
Kentfield	36	25	11	31%	Balanced
Larkspur	35	28	7	20%	Strong Buyers
Mill Valley	175	131	44	25%	Buyers
Novato	451	352	99	22%	Buyers
Ross	19	14	5	26%	Buyers
San Anselmo	85	67	15	18%	Strong Buyers
San Rafael	407	315	92	23%	Buyers
Sausalito	65	51	14	22%	Buyers
Tiburon	89	74	15	17%	Strong Buyers
Others	87	62	25	29%	Buyers
Total Marin 5/21//08	1582	1226	356	22.50%	Buyers
Total Marin 4/15/08	1375	1085	290	21.09%	Buyers
Total Marin 3/16/08	1157	913	244	21.09%	Buyers
Total Marin 2/18/08	949	742	207	21.81%	Buyers
Total Marin 1/17/08	802	674	128	15.96%	Strong Buyers
Total Marin 12/18/07	932	757	175	18.78%	Strong Buyers
Total Marin 11/17/07	1,146	904	242	21.12%	Buyers

MARIN HOME SALES STATISTICS - BY PRICE RANGE AS OF 5/21/08
Price	Total	Active	Number in Contract***	Percent in Contract*	Type of Market* (See Key)
$100,000-$499,999	311	220	91	29%	Buyers
$500,000-$749,999	344	266	78	23%	Buyers
$750,000-$999,999	294	242	52	18%	Strong Buyers
$1,000,000-$1,499,999	274	215	59	22%	Buyers
$1,500,000-$1,999,999	138	103	35	25%	Buyers
$2,000,000-$2,499,999	72	53	19	26%	Buyers
$2,500,000-$2,999,999	51	40	11	22%	Buyers
$3,000,000-$3,999,999	41	37	4	10%	Extreme Buyers
Over $4,000,000	57	50	7	12%	Strong Buyers
Total Marin 5/21/08	1582	1226	356	23%	Buyers

Key to market type:*
0% - 10% of Homes in Escrow: Extreme Buyers	36% - 45% of Homes in Escrow: Sellers
11% - 20% of Homes in Escrow: Strong Buyers	46% - 55% of Homes in Escrow: Strong Sellers
21% - 30% of Homes in Escrow: Buyers	56% - 100% of Homes in Escrow: Extreme Sellers
31% - 35% of Homes in Escrow: Balanced Market

**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

MORE DETAILED ANALYSIS OF THE APRIL MARIN MARKET

After two months of declines, the median price for single-family, re-sale homes in Marin County rallied for a 12.7% from March, down 5.6% year-over-year. Sales of existing single-family homes rose smartly, gaining 42.7% from March, but were off 30.7% year-over-year. Year-to-date, home sales are off 33.5%. The median price for condos rose 4.2% to $508,000 compared to March, but it was down 7.6%, year-over-year. Condo sales were up 6.3% from March, but down 19% year-over-year. Existing Single Family Home sales as of May 15, 2008 along with the Average, number of units sold and Median sale price is as follows:

CITY	AVERAGE PRICE	# UNITS SOLD	MEDIAN PRICE
Marin Country	$1,418,000	496	$1,050,000
Belvedere	$3,728,000	8	$2,900,000
Corte Madera	$1,283,000	21	$1,045,000
Fairfax	$746,000	16	$729,000
Greenbrae	$1,869,000	8	$1,856,000
Kentfield	$2,738,000	17	$2,495,000
Larkspur	$1,784,000	14	$1,574,000
Mill valley	$1,613,000	59	$1,370,000
Novato	$769,000	112	$706,000
Ross	$4,357,000	11	$3,100,000
San Anselmo	$1,346,000	47	$1,000,000
San Rafael	$1,035,000	113	$875,000
Sausalito	$1,826,000	13	$1,700,000
Tiburon	$2,489,000	32	$2,000,000

Complete monthly sales statistics for Marin County are below. Monthly graphs are available for each city in the county. (just contact me if you'd like a specific city)

April Sales Statistics
(Single-family Homes)
	Prices		Unit				Change from last year
	Median	Average	Sales	DOM	SP/OLP	SP/LP	Median	Average	Sales
Marin	$1,020,000	$1,381,584	147	75	93.5%	97.1%	-5.6%	-1.0%	-30.7%
Belvedere	$2,500,000	$2,936,333	3	100	92.3%	96.9%	-20.6%	-15.2%	-25.0%
Corte Madera	$1,275,000	$1,670,333	5	23	98.1%	98.1%	27.5%	48.2%	-28.6%
Fairfax	$812,800	$812,800	2	106	96.0%	98.9%	-6.3%	-16.3%	-30.0%
Greenbrae	$1,600,000	$1,793,333	3	13	101.6%	101.6%	28.0%	43.1%	0.0%
Kentfield	$1,700,000	$3,036,111	9	70	79.4%	92.6%	-33.6%	1.0%	-10.0%
Larkspur	$1,333,790	$1,750,895	4	58	94.5%	95.7%	1.8%	31.3%	-42.9%
Mill Valley	$1,512,333	$1,768,854	16	37	99.3%	99.9%	12.0%	11.9%	-61.0%
Novato	$615,250	$688,383	32	107	93.2%	96.7%	-20.9%	-22.9%	-15.8%
Ross	$3,100,000	$3,100,000	1	0	96.9%	96.9%	29.7%	30.3%	-66.7%
San Anselmo	$1,127,500	$1,381,436	18	42	97.1%	97.3%	3.9%	17.0%	20.0%
San Rafael	$871,000	$908,856	36	77	94.7%	97.1%	-4.3%	-12.6%	-21.7%
Sausalito	$2,400,000	$2,222,000	4	90	91.7%	96.6%	113.3%	74.1%	-55.6%
Tiburon	$1,840,000	$2,016,642	10	48	99.2%	100.0%	5.1%	-1.2%	-33.3%

SP/LP = Sales price divided by the listing price at the time of sale
SP/OLP =Sales price divided by the price for which the property was originally listed

April Sales Statistics
(Condos/Town homes)
	Prices		Unit				Change from last year
	Median	Average	Sales	DOM	SP/OLP	SP/LP	Median	Average	Sales
Marin	$508,000	$542,644	34	97	91.9%	96.8%	-7.6%	-8.3%	-19.0%
Corte Madera	-	-	-	-	-	0.0%	n/a	n/a	n/a
Greenbrae	-	-	-	-	-	0.0%	n/a	n/a	n/a
Mill Valley	$548,000	$780,100	5	57	96.4%	96.4%	-14.4%	24.1%	-28.6%
Novato	$379,950	$379,779	14	69	94.3%	97.5%	-17.6%	-17.1%	27.3%
San Rafael	$535,000	$636,722	9	172	89.2%	96.8%	-13.4%	2.8%	-35.7%
Sausalito	$521,000	$521,000	2	124	86.3%	95.1%	-26.1%	-20.4%	-33.3%

The real estate market is very hard to generalize. It is a market made up of many micro markets. For complete information on a particular neighborhood or for an evaluation of your home's worth, call me. If I can help you devise a strategy, call or click the buying or selling link in the menu to the top.

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!

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

FORECASTERS SEE WEAK ECONOMY EVEN IF HOUSING, CREDIT IMPROVE

The worst of the housing downturn and credit crunch may end this year but unemployment will rise and the economy will continue to weaken and fall into a short-lived and shallow recession, according to a survey released by the National Association for Business Economics (NABE).

Making Sense Of The Story For Consumers

56 percent of economists surveyed believe the U.S. already is in a recession or will enter one this year, up from 45 percent in February. Economic growth also will slow from a projected 1.8 percent in February to 1.4 percent in the current survey - well below last year's 2.2 percent growth figure and next years projection of 2.3 percent growth. If correct, the new prediction for 2007 will mark the slowest growth since the 2001 recession. Weakness in the housing sector was cited as the most significant factor in the slowing economy.
The group remains hopeful that the housing downturn will hit bottom in 2008 but predict that prices will continue to fall into 2009. Economists were equally divided in their opinion of which quarter of 2008 would see a bottom for home sales.
The group said it expects the credit crunch to soften later this year, opening the door to some improvement in the housing sector. They expect the Fed to maintain interest rates through the rest of 2008 but believe it could increase key rates from 2 percent to 3 percent by the end of 2009.

To read the full story, please click here: Weak Economy Article

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

2007 COST VS VALUE REMODELING REPORT NOW AVAILABLE

If you would like your OWN copy of the full report, please email me. Copy write laws prohibit me from publishing this data on my website. email

Each year since 1988, REMODELING's Cost vs. Value Report has compared construction costs for common remodeling projects with the value they add at resale in 60 U.S. housing markets. This year's Report has all 15 legacy projects (formerly, 10 were surveyed each year in rotation), plus the "upscale" versions of 5 projects introduced two years ago. New this year are upscale versions of roofing and siding replacement projects.

The reason this report is so helpful to homeowners and home buyers, it can give you some estimates of what remodeling projects will cost and what you can expect to recoup at resale. It's important to note that the report is specific to the San Francisco Bay Area. Here are some facts from the report:

Job	Cost	Value	Cost Recouped
Major Kitchen Remodel-Upscale	$123,476	$126,779	102.7%
Major Kitchen Remodel - Mid-range	$64,617	$69,518	$107.6%
Master Suite Addition - Upscale	$265,265	$227,096	85.6%
Master Suite Addition - Mid-Range	$125,837	$132,667	105.4%

Other projects that are included in the report: window replacement, bathroom additions/remodel, roofing, garage addition and more. Due to copyright issues, I am unable to display the entire San Francisco Bay Area Region Report on my website. I would be more than happy to email you the report, just send me a quick email with the subject: REPORT

What Do the Numbers Mean?

If some cost figures appear too high or too low, one cause is the leveling effect of averaging. High demand for remodeling services in some parts of a given metro area may drive prices up, but this is often countered by lower demand - and lower prices - in another part of the same city. Also, seemingly small differences in size, scope, or quality of finishes can dramatically affect final project cost.

Averaging also affects the "value" side of the equation. In an actual real estate transaction, the amount recouped for a given remodeling project depends on the condition of the rest of the house, as well as the value of similar homes nearby and the rate at which property values are changing in the surrounding area. Location in an urban, suburban, or rural setting will also affect a home's value, as will the availability and pricing of new and existing homes in the immediate vicinity.

In some cases, the value of the remodeling project at resale is more than 100% of its original cost. This usually happens in markets where property values are rising very rapidly, but it can also occur when buyers regard certain types of remodeling projects as "standard." For example, in a neighborhood where most houses have two bathrooms, adding a bath to a home that has just one may increase the resale value of the home beyond the cost of construction. In fact, not adding the bath could cause the home to sit on the market for much longer than is normal and to eventually sell for less than similar homes in the area.

When resale value is a major factor in a homeowner's decision to remodel, the best course of action is to consult with a local remodeler about construction cost, and ask an experienced Realtor about home prices in the neighborhood.

Again, I'll send you the report for free. Just email me by clicking on the following: Liz@BayAreaRealEstateSales.com and ask for the Report.

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

WHAT DID YOUR NEIGHBORS' HOUSE SELL FOR?

Are you Curious to know what the Median home price is in your neighborhood?

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:

May 25 Marin Home Sales

May 18 Marin Home Sales

May 11 Marin Home Sales

May 4 Marin Home Sales

April 27 Marin Home Sales

I can also send you a link to view ALL of the current and past home sales in Marin. I am not allowed to publish this data publicly, so you'll have to email me and I'll send you the link. Just click here to send me an email automatically: email

SEARCH THE MARIN MULTIPLE LISTING SERVICE FOR A NEW MARIN HOME

The following links will take you to home searches for different cities in Marin.
All search results are displayed from the highest price to the lowest price. You can scroll through pages at a time.

Belvedere homes for sale: Belvedere Homes For Sale
Corte Madera homes for sale: Corte Madera Homes For Sale
Fairfax homes for Sale: Fairfax Homes For Sale
Greenbrae homes for sale: Greenbrae Homes For Sale
Kentfield homes for sale: Kentfield Homes For Sale
Larkspur homes for sale: Larkspur Homes For Sale
Mill Valley homes for sale: Mill Valley Homes For Sale
Novato homes for Sale: Novato Homes For Sale
Ross homes for sale: Ross Homes For Sale
San Anselmo homes for sale: San Anselmo Homes For Sale
San Rafael HOMES for sale: San Rafael Homes For Sale
San Rafael CONDOS for sale: San Rafael Condos For Sale
Sausalito homes for sale: Sausalito Homes For Sale
Tiburon homes for sale: Tiburon Homes For Sale

FAST FACTS

Stats:

You can download reports by actual average home prices by county, by city, Days on Market and Number of Units Sold stats:

This is VERY important information to analyze if you are looking to buy or sell a home this year.

Marin 2007 Home Sales Stats

You can find Year end 2007 stats for EVERY city in Marin by clicking here: Detailed 2007 Analysis by Marin City

If you would like to see all of the recent home sales (by address) in Marin my Real Estate company (Vision Real Estate) publishes these here: Homes Sold in Marin

Marin median SFR + condo price- Apr08: $875,000 2007: $899,000 / 2006: $864,000 [Source: BAREIS]

Marin average SFR + condo price-: Apr08: $1,223,000; 2007: $1,220,000 / 2006: $1,089,129 [Source: BAREIS]

Marin median SFR home price - Apr08: $1,020,000; 2007: $1.025,000 / 2006: $956,000 [Source: BAREIS]

Marin median condo price - Apr08: $508,000; 2007: $570,000 / 2006: $548,000 [Source: BAREIS]

Calif. median home price -Mar08: $413,980 [Source: C.A.R.]

Calif. highest median home price Mar08: Santa Barbara So. Coast $1,140,000 [Source: C.A.R.]

Calif. First-time Buyer Affordability Index - 1^st Quarter 08: : 44 percent [Source: C.A.R.]

Mortgage rates - week ending 5/22/08: (Source: Freddie Mac)

· 30-yr. fixed: 5.98%; Fees/points: 0.5%

· 15-yr. fixed: 5.55%; Fees/points: 0.5%

THE BAY AREA REAL ESTATE NEWSLETTER IS PROVIDED TO YOU BY:

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.

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

Liz McCarthy

"High-Touch through "High-Tech"

Real Estate Broker, e-PRO certified

Vision Real Estate

Liz@BayAreaRealEstateSales.com

415-250-4929

Is this email going into your junk folder? If so, add Liz@BayAreaRealEstateSales.com to your address book to ensure that all future BayAreaRealEstateSales.com emails appear in your mailbox.

Spam Free Guarantee

We do not share, sell or rent our mailing list and we do not place pop-up ads on your computer.