Archive for the ‘Marin Market Trends’ Category
90 Mill Valley Real Estate Market Statistics
| 90-day stats for Single Family properties in MILL VALLEY, CA94941 as of August 27, 2010 | |||
|---|---|---|---|
| Median List Price: | $1,291,923 | Average List Price: | $1,564,894 |
| Total Inventory: | 164 | Price per Square Foot: | $584 |
| Average Home Size: | 2,408 | Median Lot Size: | 9,939 |
| Average # Beds: | 3.50 | Average # Baths: | 2.77 |
| Homes Absorbed: | 11 | Newly Listed: | 9 |
| Days on Market: | 104 | Average Age: | 46 |
View all active Mill Valley homes for sale.
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If you are unable to see the video above, please click here
According to the the National Association of Realtors®, “distressed homes” represented nearly 2 of every fifth home sold in January 2010. Clearly, real estate investors in Marin County and around the country are taking advantage of good deals on inexpensive property. But there’s risk involved.
This NBC Today Show interview first ran in March 2009, featuring real estate expert Barbara Corcoran. Despite its age, the message remains relevant. Today may be a terrific time to buy a bank-owned home — just make sure you do your research first. There’s plenty of ways for investors to get burned.
Some of the tips in the video include:
- Buy in your own backyard
- Start small, then build to a bigger portfolio
- Watch receipts — rent rolls don’t matter if tenants aren’t paying rent
Corcoran also gives pointers on how to evaluate a prospective tenant.
Foreclosures may represent a significant number of 2010’s total Marin County home sales and will offer interesting opportunities to bona fide real estate investors.
Remember, the stats and the data are from 12 months ago, but the advice stays meaningful.
In this video, California Association of REALTORS economist Leslie Appleton Young speaks to agents but it is good information for everyone. A couple of takeaways:
- Median home price in California has plummeted because of foreclosures.
- The California real estate market bottomed in 2007. Sales have increased dramatically in the last two years.
- The dollar volume of sales will have bottomed this year. It will be flat in 2010.
- Statewide numbers aren’t as important as local data (Follow my Marin market statistics!)
- If the government does not put more policies in place to put people to work and fuel job growth, the recession will go on for quite some time.
If you are unable to see the video, please click here
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Marin County Homes Sales Statistics, April 2009
| Marin County Home Sales | Apr 08 | Apr 09 | % Change |
| For Sale | 833 | 900 | 8% |
| Sold | 141 | 104 | -26.2% |
| Pending | 142 | 141 | -0.7% |
*Marin County Single Family Residential Home Sales
Are you a Marin real estate junkie? Sign up to receive very detailed real-time market reports in your email. Just register and let me know which neighborhoods you are interested in. Download a sample report.
*Report published May. 2009, based on data available at the end of Apr. 2009. Data provided by Bay Area Real Estate Information Services, Inc. Neither the Associations nor their MLSs guarantee or are in anyway responsible for their accuracy. Data maintained by the Associations or their MLSs may not reflect all real estate activities in the market. Information deemed reliable but not guaranteed.
This is reprinted with permission from an email sent to my company, Alain Pinel, by Alain Pinel Owner/CEO Paul Hulme.
Did you read the editorial in yesterday’s paper?
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THE AWFUL UNCERTAINTY OF THE FUTURE It is a gloomy moment in history. Not in the lifetime of any man who reads his paper has there been so much grave and deep apprehension; never has the future seemed so dark and incalculable. In France, the political cauldron seethes and bubbles with uncertainty. England and the English Empire is being sorely tried and exhausted in a social and economic struggle, with turmoil at home and uprising of her teeming millions in her far-flung Indian Empire. The United States is beset with racial, industrial and commercial chaos – drifting, we know not where. Russia hangs like a storm cloud on the horizon of Europe – dark and silent. It is a solemn moment, and no man can feel indifference, which happily no man pretends to feel in the issue of events. Of our own troubles, no man can see the end……….. |
This editorial sounds pretty gloomy, doesn’t it? The writer evidently was weighted down by present problems and quite ready to sell our Nation short. Did I say “present problems”? Excuse me, please. No, far from it. This editorial appeared before 9/11, Vietnam, before the Korean conflict, before World War II, before the Depression of 1929, before the First World War in 1914, before the Panic of 1891, before the Civil War in 1865.
It was an editorial in Harper’s Weekly – October 10, 1857. One hundred and fifty-two years ago! Yes, our country is going through difficult economic times, but hang in there. And remember, “The race goes not always to the swift nor to the strong, but to those who endure to the end.”
This, too, shall pass.
This market profile is a snapshot of what is happening in San Rafael. San Rafael home prices in the 94903 zip code have continued to trend down in recent weeks while home prices in the 94901 zip code have stayed flat. While the listing inventory in San Rafael has been decreasing, days-on-market has been increasing. The Market Action Index has been basically flat, not providing a strong indication of the direction of the San Rafael real estate market.
San Rafael Real Estate Market Update
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There are currently 180 homes for sale in San Rafael, California. There are 41 San Rafael homes under contract. |
||
| Area- Zip Code |
94901 |
94903 |
| Median List Price | $889,500 | $699,000 |
| Highest Priced San Rafael Home (single family) |
$4,500,000 349 Bay Way, San Rafael |
$6,500,000 1677 Lucas Valley Rd, San Rafael |
| Lowest Priced San Rafael Home (single family) |
$375,000 |
$379,900 842 Rincon Way, San Rafael |
| Asking Price per Square Foot | $450 | $407 |
| Average Days on Market | 126 | 149 |
| Percent of Properties with Price Decrease | 39% | 49% |
| Percent Relisted | 9% | 2% |
| Median House Size (sq ft) | 2,047 | 1,833 |
| Median Lot Size | 8,001-10,000 Sq. Feet | 8,001-10,000 Sq. Feet |
| Median Number of Bedrooms | 3.8 | 4.0 |
| Median Number of Bathrooms | 2.4 | 2.0 |
| Market Action Index | 14- Cold! Buyer’s Market | 15- Cold! Buyer’s Market |
The Market Action Index answers the question:
“How’s the San Rafael Real Estate Market?”
By measuring the current rate of sale versus the amount of inventory.
Index above 30 implies seller’s market conditions.
Below 30, conditions favor the buyer.
San Rafael Real Estate Market Data effective as of February 15, 2009. Data provided by AltosResearch and Bay Area Real Estate Information Services, Inc. Are you a Marin real estate junkie? Sign up to receive very detailed real-time market reports in your email. Just register and let me know which neighborhoods you are interested in. Download a sample report.