While realtors are not yet dancing in the streets like Egyptians, some of us did last night at the Marin Valentine's Ball, a wonderful fundraiser for four very deserving charities in Marin at the Civic Center. It was an awesome event ...
But this is supposed to be about Marin real estate, where there is also good news:
The Spring Market is beginning with a nice little bang, especially at the lower end. There were many new listings last week in the lower price ranges which got multiple offers and are now in contract, some with back-up offers in place. The good ones, especially under $850k, are selling quickly. The percentage of all single family homes under $1m in contract is now over 30% in southern Marin, making it a clear sellers' market. Talking with many young couples from the city, often with a baby or two in tow at open houses, has made it apparent that these young families are tired of having their lives on hold while they wait for the economy to settle down. There's also a belief that interest rates will continue to inch upward.
In the higher price ranges, there were about a dozen decent new $2m plus homes that came on market this week, many of them in Mill Valley,with a couple in Tiburon and Kentfield, and a notable 4 bd/4bath in a prime Larkspur neighborhood. This week will tell us more about how well that end of the market is doing. Up until now,with mostly recycled listings from last year to choose from, these buyers were holding back, keeping the percentage in contract in the low 20s, a buyer's market.
I will take a closer look at the emerging top end category of $4m to $10m homes next, and will post on that soon. In the meantime, let us know if you have any questions about what's going on in Marin. This is clearly the most promising market since the Spring of '08, when we first started getting nervous about our 'too good to be true' housing market. Now that we have learned that lesson, we advise moving forward with caution if you are a buyer. Don't jump too fast or too high. This early burst of activity could just be pent up early Spring demand that will taper off as inventory grows. To sellers, we say "get a move on" since no one knows how deep this buyer pool is.
An important disclaimer: Never forget that our cystal ball is a little glitchy, as all honest ones are! Our real estate informaion is deemed reliable, but not guaranteed. And if there is going to be dancing in the streets, we'll be the first to let you know!
Pat Ravasio
Frank Howard Allen Realtors
#1 Agent in Larkspur & Corte Madera 2010
Stats are from Bareis MLS, and are approximate, limited to towns in southern and central Marin County.
But this is supposed to be about Marin real estate, where there is also good news:
The Spring Market is beginning with a nice little bang, especially at the lower end. There were many new listings last week in the lower price ranges which got multiple offers and are now in contract, some with back-up offers in place. The good ones, especially under $850k, are selling quickly. The percentage of all single family homes under $1m in contract is now over 30% in southern Marin, making it a clear sellers' market. Talking with many young couples from the city, often with a baby or two in tow at open houses, has made it apparent that these young families are tired of having their lives on hold while they wait for the economy to settle down. There's also a belief that interest rates will continue to inch upward.
In the higher price ranges, there were about a dozen decent new $2m plus homes that came on market this week, many of them in Mill Valley,with a couple in Tiburon and Kentfield, and a notable 4 bd/4bath in a prime Larkspur neighborhood. This week will tell us more about how well that end of the market is doing. Up until now,with mostly recycled listings from last year to choose from, these buyers were holding back, keeping the percentage in contract in the low 20s, a buyer's market.
I will take a closer look at the emerging top end category of $4m to $10m homes next, and will post on that soon. In the meantime, let us know if you have any questions about what's going on in Marin. This is clearly the most promising market since the Spring of '08, when we first started getting nervous about our 'too good to be true' housing market. Now that we have learned that lesson, we advise moving forward with caution if you are a buyer. Don't jump too fast or too high. This early burst of activity could just be pent up early Spring demand that will taper off as inventory grows. To sellers, we say "get a move on" since no one knows how deep this buyer pool is.
An important disclaimer: Never forget that our cystal ball is a little glitchy, as all honest ones are! Our real estate informaion is deemed reliable, but not guaranteed. And if there is going to be dancing in the streets, we'll be the first to let you know!
Pat Ravasio
Frank Howard Allen Realtors
#1 Agent in Larkspur & Corte Madera 2010
Must see this large home with huge potential in Larkpur's Hillview Neighborhood:
98 Cornell Avenue, Larkspur, CA 6 Bedrooms/4 Baths. Just reduced to $1,389,000
Listed by Bob and Pat Ravasio, Frank Howard Allen
Call us for a private showing!
CA License #01394550Stats are from Bareis MLS, and are approximate, limited to towns in southern and central Marin County.
Hello, I love reading through your blog, I wanted to leave a little comment to support you and wish you a good continuation. Wish you best of luck for all your best efforts.
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