I toured more than 25 new listings yesterday and today, and overall, it seems many sellers are still living in the past, with prices set too high, while buyers are still waiting for prices to drop even more. As we 'celebrate' St. Patrick's Day by awaiting the arrival of an uncertain "Plume" of radiactivity, courtesy of Japan's record earthquake and tsunami, the drama of house hunting in Marin continues, but there are a few bright spots.
The lower end of the real estate market continues to do well, as the "starter home" price category is chugging along with over 30% of all available homes in contract. This category ranges from about $700k to $950k in the south county; and $400k to $800k in Novato and parts of San Rafael.
As far as individual listings go, there were a couple well-priced new properties in Greenbrae and San Anselmo and I am partial to our new listings in Corte Madera at http://www.11meadowridge.com/ and http://www.5madrono.com/.
Many buyers are somehwat motivated by fears of the ticking clock -- that interest rates may soon head the same direction as gas prices. But house hunting is a lot like choosing a mate, and so, unless there's some competition, buyers often don't see the need to be in any hurry to commit. Who knows, there might be a prettier girl (or house) coming just around the corner ...
We're working with several sellers to get their homes ready for market, and are encouraging them to move as quickly as feasible. Who knows how long this current pool of buyers will be around? The Spring market isn't getting any younger... But as long as inventory of good properties remains low, patience is a workable strategy for sellers already on market, since buyers may eventually realize that nothing better is likely to pop up.
So staying the course and not giving up is all we can advise to both house and spouse hunters. Have faith that the right one will come along. But keep your expectations in check. Hold out for perfection and you may end up empty handed. Be aware that the old 'biological clock' is ticking (both with interest rates, and just getting on with your life!). But don't let anyone make you panic and act too quickly, unless that plume turns out to be something of note.
Happy house hunting. Or selling. Either way, may we all find the perfect house, and the spouse to go with it! And that is my Irish blessing for day.
Pat Ravasio
Frank Howard Allen Realtors CA license #01394550
The lower end of the real estate market continues to do well, as the "starter home" price category is chugging along with over 30% of all available homes in contract. This category ranges from about $700k to $950k in the south county; and $400k to $800k in Novato and parts of San Rafael.
As far as individual listings go, there were a couple well-priced new properties in Greenbrae and San Anselmo and I am partial to our new listings in Corte Madera at http://www.11meadowridge.com/ and http://www.5madrono.com/.
Many buyers are somehwat motivated by fears of the ticking clock -- that interest rates may soon head the same direction as gas prices. But house hunting is a lot like choosing a mate, and so, unless there's some competition, buyers often don't see the need to be in any hurry to commit. Who knows, there might be a prettier girl (or house) coming just around the corner ...
We're working with several sellers to get their homes ready for market, and are encouraging them to move as quickly as feasible. Who knows how long this current pool of buyers will be around? The Spring market isn't getting any younger... But as long as inventory of good properties remains low, patience is a workable strategy for sellers already on market, since buyers may eventually realize that nothing better is likely to pop up.
So staying the course and not giving up is all we can advise to both house and spouse hunters. Have faith that the right one will come along. But keep your expectations in check. Hold out for perfection and you may end up empty handed. Be aware that the old 'biological clock' is ticking (both with interest rates, and just getting on with your life!). But don't let anyone make you panic and act too quickly, unless that plume turns out to be something of note.
Happy house hunting. Or selling. Either way, may we all find the perfect house, and the spouse to go with it! And that is my Irish blessing for day.
Pat Ravasio
Frank Howard Allen Realtors CA license #01394550
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.
ReplyDeleteMarin Real Estate