may 2009: Marin County, CA. Real Estate Update — May 2009 (Homes For Sale & Price Ranges) - 05/21/09 03:58 PM
The leading indicator of future sales is the number of homes in escrow at a given time. We have experienced over 60 new escrows in five of the past seven weeks and over 70 for the past three weeks. May 2009 new escrows will likely surpass the levels of April and May 2008. As you can see from the below chart (which goes back 6 months), the number of escrow is up 105% and sales are up 30%. 
The upsurge in sales and escrows is seasonal, but also due to low 5% interest rates on conforming loans right now. We are also … (0 comments)

may 2009: Tiburon & Belvedere Real Estate Market Report (May 2009 Home Sales Update) - 05/21/09 03:53 PM
As inventory collects in Southern Marin's toniest locales (Belvedere and Tiburon), we are starting to see and hear about more offers being submitted. Certainly, sellers frustrated by the lack of activity have in some cases taken what they could get. Most recognize that our new economy, post-Equity Market Meltdown, has shifted the pricing and value expectations of buyers. While I perceive a high level of pent up buyer demand, buyers seem to be willing to wait things out. Much of this behavior is based on expectations of further price declines weighed against likely increased interest rates in the near to mid-term … (0 comments)

may 2009: Mill Valley CA. Real Estate Market Report (May 2009 Home Sales Update) - 05/21/09 03:51 PM
The median price per square foot has dipped to about $575 per sq. ft. (which is down from well over $800 in mid-2007). While some buyers believe prices may slip a bit more, as noted above, most appreciate the fact that interest rates are very appealing. Indeed, mortgage math punishes those who don't lock in at or near the lowest rate possible. For example, if prices dip another 5% and interest rates go up just 1%, the monthly payment would increase rather significantly for an $800K home with 20% down (call me for exact numbers relating to a given situation). 
Down … (0 comments)

may 2009: Novato CA Real Estate Market Update (May 2009 Home Sales Report) - 05/15/09 03:17 AM
While the pipeline of new properties and overall inventory levels increases dramatically throughout most of Marin County, CA (this is the prime selling season, after all), Novato's inventory level has remained very steady over the past 3 months. Just 151 single family homes are currently for sale. There were 152 homes for sale in April 2009 and 142 in March 2009.
Novato's absorption rate (e.g., the number of months of inventory currently available in Novato) again dipped dramatically. In March, Novato had 7.9 months of inventory, in April there was 6 months inventory, and today there just 4.97 months of inventory. … (0 comments)

may 2009: San Rafael CA Real Estate Market Report (May 2009 Home Sales Update) - 05/15/09 03:15 AM
As noted last month, San Rafael CA's real estate market is increasingly fueled by foreclosures and short sales. The low end (under $600K) is just on fire with "fire sale" prices. We are currently experiencing an amazing 69% pending ratio for homes priced at or below $600K (up from 31% in February). San Rafael's bread and butter homes, priced between $600K and $800K continue selling at a moderate pace with 29% of homes in escrow. Increasing affordability, low interest rates on conforming loans, an increased presence of FHA loans, and a shifting mindset are all resulting in a strengthening market. Additionally, … (0 comments)

 
Kyle Frazier, Kyle Frazier , CRS & Marin CA Realtor (Christie's Great Estates | Pacific Union International) Rainmaker large

Kyle Frazier

Kyle Frazier , CRS & Marin CA Realtor

Mill Valley, CA

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Christie's Great Estates | Pacific Union International

Office: (415) 448-1118

Mobile: (415) 350-9440

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Real Estate information about Marin County, California--Mill Valley, Sausalito, Tiburon, Belvedere, Corte Madera, Larkspur, Greenbrae, Kentfield, Ross, San Anselmo, San Rafael, and Novato. Community descriptions, sales information, and more.


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