Archive for the ‘Marin Real Estate’ Category
Looking at the Marin County stats across all residential properties and price ranges through last month, pendings (houses going into escrow) ticked back up and inventory remained lower than any May since 2007. With all the doom and gloom in the media lately about the housing market nationwide, I guess we should feel good that Marin is looking like a different story right now.
With relatively low inventory and sales still pretty brisk the months supply is as low as it’s been in quite a while. It was at 3.4 in May, meaning at the current rate of homes going into escrow it would take 3.4 months to exhaust the current supply. That number was 4.9 in May 2010, and 3.1 back at this time in 2006.
As always, if you’d like stats for your particular town or price segment feel free to drop us a line at info@sfnorth.com.
Time to look at the stats now that the April data is in. Inventory ticked up from March as expected, but is still substantially lower than it has been in April the last few years. These charts are for all single family homes in Marin County under 2 millon dollars.
Pendings (the number of homes going into escrow) have remained pretty constant from March, but months supply has ticked up a little because of the increased inventory. The market still feels more active than it has in a while, and we’re hearing the same from other agents, though it’s not across the board. Interest level in properties coming on still varies quite a bit depending on the nature of the home, how realistic the price is, and of course the location.
In 2010 we saw a lot of activity in the early part of the year, and then a decline from the beginning of Summer through the holidays. It’ll be interesting to see if this year things stay more consistent and if this feeling that the Marin market is heating up continues. As always feel free to drop us an email at info@sfnorth.com if you’d like stats for your particular area or price range.
There’s a real feeling of renewed activity in the Marin real estate market so far this year, and we’re seeing more multiple offers than we’ve seen in some time. One Kentfield property listed by an agent in our office received eight offers last week, and that’s not an isolated case. Many homes are getting multiple offers, and others have been selling before most buyers even get a chance to view them, either before actually hitting MLS or before the Sunday open house.
Now this is certainly not what’s happening across the board. There are still plenty of homes sitting on the market, and we’re still seeing price reductions in many cases. But in the more popular areas, homes that have a lot of the features most buyers are looking for–and that are priced correctly–are getting a lot of activity. We’re not back to the way things were at the height of the crazy market in 2005, where even less desirable homes were selling fast and for too much money, but we haven’t felt this level of competition for good homes in years. We’ll have to wait and see how much this is function of the time of year and a low supply, or if it keeps up through the rest of 2011.
Here’s a look at the months of inventory based on pending listings for single family homes under $2 million in Marin, meaning how many months it would take to sell all the homes currently on the market based on the rate at which they’re going into escrow. It was down to 3.3 months supply in March, which was 11.4% lower than the supply one year ago, and 43.3% lower than March 2009. The numbers for April will be out soon and I’m guessing they’ll further reflect the increasing activity and relatively lean supply, but I’ll post some charts when they’re available to give a better picture.
If you’d like market info and stats for your specific area of Marin or price range feel free to email me at gcrowe@sfnorth.com.
Wow, what a turn around at the old Larkspur Landing! We recently stumbled upon the Farmers Market, open every Saturday between 9am and 2pm. It’s the perfect place to bring the kids, eat lunch and let them run around the open grassy area or lounge with friends on the large picnic tables and benches. The vibe was amazing. There was live folk/bluegrass music and really yummy food, and the kids went on a pony ride and fed the ducks in the pond. It’s a great place to check out on a Saturday and meet up with your friends for lunch.
The mall has an open, family-friendly style, with a great combination of artisan foodie shops, high end boutiques, restaurants, and a yummy yogurt shop. Marin Brewing company is still there and a great place to sit out on the patio and have a beer and lunch. There are many new shops coming soon and I have a hunch this will be the new cool place to hang out and shop like it used to be 25 years ago. Check out their website for more info.
Hot off the press is 40 Oak Springs Rd near Sleepy Hollow. It’s a pristine and spacious 3/2 home, with an updated kitchen and master bath, and a cool open floor plan. The lot is mostly up-slope, but there’s a good sized flat section that’d be great for gardening or a play area. Asking price is $699,000.
For more info or to schedule a showing give us a ring at 415-578-0572 or email info@sfnorth.com.
If you are selling your home, one of the considerations will be whether or not to include a lockbox on your house.
What is a lockbox?
A lockbox is a metal box that typically attaches to the door of a home. House keys are placed inside to allow another real estate professional to access the property. Lockboxes are only accessible by agents who subscribe to the mulitple listing service and have a code to access the home. They either have an electronic key or an application on their smart phone. Once they enter the code they can open the box and remove the house key.
Are lockboxes safe?
The lockbox key codes update each evening, so any agent who loses their “key” or is removed from the system will not be able to open the lockbox. We used to leave keys at the office for agents who wanted to show a home. Lockboxes reduced lost keys and the expense involved in rekeying a property. Lockbox showing information can be downloaded by the agent to track who views the home and how often.
Should you use a lockbox?
Well, that depends! Lockboxes allow for tremendous flexibility for showing agents. Homes that use lockboxes are more likely to be shown because of the their ease of use and showing hours can be set up so an appointment is not necessary. Sad but true, many agents won’t show an appointment only listing because it requires too much advance preparation to set up the appointments. Additionally, many buyers feel more comfortable viewing homes when the listing agent and home seller are not present. Buyers are more likely to spend more time at properties where they feel they can view and talk freely.
What if someone steals my stuff?
Even with an agent in the property, theft could still occur. The best way to prevent theft is to remove valuables and prescription drugs before you put your home on the market.
When shouldn’t I use a lockbox?
We do not use lockboxes on many of our luxury properties (2+million). We want to make sure prospective buyers are qualified and we require a personal walk through with a member of our team to explain all of the unique features of the home. Additionally, the quantity of showings on a multi-million dollar home is significantly lower, making it easier to accommodate scheduling requests.
In general, we are strong believers in the use of lockboxes. The more showings you have, the greater opportunity you have to sell your home. If you are considering selling, please contact us!
Stephen just brought on a new two bedroom, two bath view home at 14 Island Drive in San Anselmo. It’s a cute house in a beautiful setting with lots of cool deck areas, including a sort of secret hot tub area through a door off the hallway. It has a nice updated kitchen, a living room with vaulted ceilings and fireplace, and a two-car garage. Definitely worth a look if you’re in the market for a two bedroom home. It’s on the very eastern edge of San Anselmo, so you get high scoring schools and a good commute to SF.
For a showing give us a ring at 415-578-0572 or email info@sfnorth.com.
If you are considering moving to Marin County, trying to get a feel for what you can afford to buy in the different neighborhoods can be daunting, especially with some of Marin’s steep price tags. Fortunately, not every home in Marin is a multi-million dollar luxury home.
So what can you buy in Marin?
Mill Valley
Many first time home buyers moving from San Francisco start their home search in Mill Valley. It’s charming, close to the bridge, and has a lively downtown area. Its proximity to the city also comes with a much steeper price tag then some of its counterparts. The median list price in Mill Valley is $1,140,346.
| 90-day stats for Single Family properties in MILL VALLEY, CA as of October 7, 2011 | |||
|---|---|---|---|
| Median List Price: | $1,039,192 | Average List Price: | $1,403,263 |
| Total Inventory: | 121 | Price per Square Foot: | $510 |
| Average Home Size: | 2,259 | Median Lot Size: | 9,136 |
| Average # Beds: | 3.44 | Average # Baths: | 2.75 |
| Homes Absorbed: | 8 | Newly Listed: | 7 |
| Days on Market: | 122 | Average Age: | 51 |
Fortunately, not every Mill Valley home is over a million dollars. Here are a few Mill Valley homes listed for sale under one million:
Showing properties
1 - 5 of 33.
See more city of Mill Valley real estate.
(all data current as of
2/11/2012)
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$999,000 : 171 Elm Ave, Mill Valley3 beds, 2 full baths
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$999,000 : 226 Amicita Ave, Mill Valley3 beds, 2 full baths
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$998,000 : 386 East Blithedale Ave, Mill Valley3 beds, 3 full baths
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$995,000 : 155 Hazel Ave, Mill Valley4 beds, 3 full baths
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$995,000 : 1005 Erica Rd, Mill Valley4 beds, 2 full, 1 part baths
Listing information deemed reliable but not guaranteed. Read full disclaimer.
View all Mill Valley Homes for Sale
San Anselmo
The town of San Anselmo is also known for it’s charming downtown area, proliferation of antique shops, and its proximity to hiking, biking and all of Marin’s fantastic scenery. The commute times in San Anselmo are longer, but your house money will go a lot further as evidenced by the chart below.
| 90-day stats for Single Family properties in SAN ANSELMO, CA as of October 7, 2011 | |||
|---|---|---|---|
| Median List Price: | $814,835 | Average List Price: | $1,059,208 |
| Total Inventory: | 59 | Price per Square Foot: | $466 |
| Average Home Size: | 2,027 | Median Lot Size: | 10,161 |
| Average # Beds: | 3.35 | Average # Baths: | 2.42 |
| Homes Absorbed: | 4 | Newly Listed: | 4 |
| Days on Market: | 111 | Average Age: | 57 |
Here are a few San Anselmo homes listed for sale under one million:
Showing properties
1 - 5 of 24.
See more city of San Anselmo real estate.
(all data current as of
2/11/2012)
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$995,000 : MLS # 21108819 in San Anselmo4 beds, 2 full baths
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$849,000 : 408 Oakcrest Rd, San Anselmo3 beds, 1 full bath
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$849,000 : MLS # 21200725 in San Anselmo4 beds, 3 full baths
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$829,000 : 129 Madrone Ave, San Anselmo2 beds, 1 full bath
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$829,000 : 800 Fawn Dr, San Anselmo3 beds, 1 full, 1 part baths
Listing information deemed reliable but not guaranteed. Read full disclaimer.
View all San Anselmo Homes for Sale
San Rafael
Moving on to San Rafael, the county seat of Marin, we also see more affordable homes with a median list price of $702,045.
| 90-day stats for Single Family properties in SAN RAFAEL, CA as of October 7, 2011 | |||
|---|---|---|---|
| Median List Price: | $726,377 | Average List Price: | $941,244 |
| Total Inventory: | 177 | Price per Square Foot: | $389 |
| Average Home Size: | 2,145 | Median Lot Size: | 8,390 |
| Average # Beds: | 3.66 | Average # Baths: | 2.60 |
| Homes Absorbed: | 12 | Newly Listed: | 12 |
| Days on Market: | 112 | Average Age: | 50 |
Here are a few San Rafael homes listed for sale under one million:
Showing properties
1 - 4 of 95.
See more city of San Rafael real estate.
(all data current as of
2/11/2012)
-
$999,000 : 12 Ninestone Ct, San Rafael4 beds, 3 full baths
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$989,000 : 27 San Marino Dr, San Rafael3 beds, 2 full, 1 part baths
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$925,000 : 227 Spring Grove Ave, San Rafael5 beds, 3 full baths
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$919,000 : 31 Santiago Way, San Rafael4 beds, 2 full, 1 part baths
Listing information deemed reliable but not guaranteed. Read full disclaimer.
View all San Rafael Homes for Sale
Learn More
These are just three of Marin’s cities. If you are interested in moving to Marin, please contact us to get a more in-depth look at where you can afford to buy.
If you are interested in learning more about Marin County price trends, supply and demand and leading indicators, check out our weekly Marin Market Trends Report By City.
It’s pretty common in Marin County for sellers to have a pest inspection done before putting their home on the market so potential buyers can know going in about issues like termites and dry rot, and whether they’ve been remedied. But it’s much less common for sellers to do other pre-listing inspections. Traditional thinking says that any buyer who gets into escrow will be ordering additional inspections (and paying for them), so why would a seller bother? Actually, there are some great reasons to do more than just a pest inspection up front.
Many sellers simply don’t want to spend the money when they don’t have to, which is understandable. A typical home inspection runs in the $400 to $600 range, so why not let the buyer bear that expense? That may seem like a smart way to see it, but that thinking can lead to surprises in the middle of the escrow and can end up costing much more than the inspection would have. What can end up happening is a buyer gets into escrow, tying up your property for weeks, and then uncovers previously unknown issues and proceeds to negotiate hard for the money to remedy them. You then have to decide whether to make considerable concessions or run the risk of having the deal fall through, which would leave you back at square one, but with a home that’s no longer new on the market and with issues that now need to be disclosed to any new prospective buyer.
If you know about problems before you bring your house on the market you then have time to figure out the best way to address them. Getting bids from tradespeople and deciding on the smartest and most cost effective course of action is an easier proposition when you’re not under the gun, negotiating with a clock running. Uncover those problems yourself beforehand, decide which make sense to deal with and how, and then you nip them in the bud before they have a chance to mess up your deal. And if you provide reports detailing any issues up front, a buyer will then need to take them into account when writing the offer rather than asking for a credit or repairs once in escrow.
Of course there’s quite a variety of inspections you could do depending on your situation, so your agent can help you determine which might make sense to spring for. In addition to the termite and home inspections we often recommend a sewer scope, for example. The $200-$300 it costs can be money well spent and give you some really important info. If your sewer lateral is shot and needs a $10,000 overhaul would you rather know that going in or have that news dropped on you in the middle of the escrow? And if you’re in the Ross Valley Sanitation District you can benefit from their Lateral Replacement Grant Program, whereby they’ll pay up to $4,000 of the cost.
Pre-listing inspections are about avoiding surprises and heading off problems before they can complicate your deal. Every situation is unique, but often doing investigations up front and getting needed repairs done prior to marketing your home can benefit you as a seller. You’ll be able to show your home in the best possible light, giving buyers confidence about their buying decision, and limit the potential for messy complications popping up down the road.
I snapped this photo on a hike this morning of Mt. Tam from Crown Road in Baltimore Canyon. The colors were amazing after the evening rains. This hike is one of my favorites. You can take Crown Road to the left and down to Dawn Falls. We choose the trail head to the right, which leads you up on the ridge to view all of Marin’s gorgeous hills.
The Crown Road trail is accessible via Kentfield.
Driving directions:
From Sir Francis Drake, take College Avenue into Kentfield. Turn right on Woodland, left on Evergreen. Follow Evergreen up the mountain. Turn left Crown Road and continue to the end of the road. Parking can be difficult on weekends.