Hot New Listings | June 29, 2007

Weekly feature highlighting the top new listings in Marin. Here is the best of the week...

• 3 Edgewater Rd, Belvedere - $2.92MM
  Pristine one-level Belvedere Lagoon home with
  boat dock. More Info >>



• 216 Morningsun Ave, Mill Valley - $1.249MM
  Very clean Mill Valley home with sweet bay views,
  easy commute. More Info >>

Hot New Listings | June 22, 2007

Weekly feature highlighting the top new listings in Marin. Here is the best of the week...

• 30 Tamalpais Ave, Larkspur - $2.195MM
  Stunning Madrone Canyon remodel. Pool, slate patios,
  level lawn, great views. More Info >>



• 366 Lovell Ave, Mill Valley - $4.395MM
  One-of-a-kind modern design Mill Valley trophy home.
  More Info >>



• 95 Tamalpais Ave, San Anselmo - $849K
  Cute 1940s cottage on a private street-to-street level
  lot with terrific light. More Info >>

Marin home prices on the decline?

The Marin IJ recently reported a slip in Marin home prices. However, stats from BAREIS (the local MLS provider) shows the median hit a new record of $1,155,000 in June. So, while not entirely accurate (as usual), here's the article from the IJ…

After breaking through the $1 million barrier in April, Marin's median home price fluttered back to earth in May. The median price for a detached home in Marin was $925,000 last month. The median was down from a record $1,010,000 in April - the first time any California county passed the $1MM mark - but still up 2.8% from May 2006.

The median price for a Marin condo or townhouse was $592,000 last month, up 8.2% from the previous May. Sales of detached homes rose 10.4% year-over-year, while condo sales fell 10.4%.

John Karevoll, a DataQuick analyst, said he expects Marin real estate will eventually return to the $1 million threshold. "The numbers always bounce around," he said. "I think it just has to do with mix. The overall trend in Marin is prices are going to go up."

Marin's median price continued to lead the state. Market observers said it was unlikely that the recent surge in Treasury yields - which has made home mortgages more expensive - will have a significant overall impact on Marin. Read More >>

Bay Area home sales

The following chart compares Bay Area single-family home and condo/townhouse sales with a month ago and a year ago. According to this study, Marin County single-family sales are up 2.8% from May ’06, while condo/townhouse sales are up a whopping 8.2%.

Click on the graph below for complete details...

Hot New Listings | June 15, 2007

Weekly feature highlighting the top new listings in Marin. Here is the best of the week...

• 2 Diane Ln, Larkspur - $1.195MM
  Charming updated cottage, beautifully landscaped,
  sunny, A+ location. More Info >>



• 61 Matilda Ave, Mill Valley - $925K
  Modest house on a sweet flat lot in Sycamore Park
  with approved plans for a 2,000 sqft house.
  More Info >>



• 375 Summit Ave, Mill Valley - $2.75MM
  Fabulous Middle Ridge knoll-top setting on a
  spectacular 25,000 sqft lot, funky '50s house.
  More Info >>

Mortgage rates hit 10-month high

From CNN Money...

Mortgage rates jumped to the highest level in 10 months after recent reports on unemployment, wage growth and labor costs fanned growing fears about a pickup in inflation, Freddie Mac said Thursday.

The average rate on 30-year fixed-rate loans climbed to 6.53 percent for the week ending June 7, from 6.42 percent the previous week. Last year at this time, 30-year mortgage rates averaged 6.62 percent. The rate is the highest since Aug. 10, 2006, when it averaged 6.55 percent.

The 30-year rate stood at 6.15 percent on May 10th, just before it turned sharply up.

Doug Duncan, chief economist for the Mortgage Bankers Association (MBA), expects mortgage rates to top out near 7 percent by the end of the year. Read More >>

Hot New Listings | June 8, 2007

Weekly feature highlighting the top new listings in Marin. Here is the best of the week...

• 2 Villa Ct, Kentfield - $1.325MM
  Interesting contemporary remodel, wonderful large
  level grassy yard. More Info >>



• 187 Locust Ave, Mill Valley - $1.195MM
  Classic vintage Sycamore Park home with tons of
  charm and curb-appeal. More Info >>



• 101 Thalia St, Mill Valley - $1.749MM
  Nicely remodeled Boyle Park Craftsman home, good
  feel, easy walk to town. More Info >>



• 1825 Mountain View Dr, Tiburon - $3.395MM
  Updated contemporary with expansive views of the
  bay, situated on a private 1/2 acre. More Info >>

C.A.R. forecasts 14 percent sales decline, modest increase in median home price for state

The CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) today projected a 14 percent decline in single-family home sales this year, and forecast a 1.8 percent increase in the median price of a home. C.A.R. Executive Vice President Joel Singer delivered the Association’s 2007 Midyear Housing Market Forecast as part of the California REALTOR® Showcase and C.A.R.’s Legislative Day activities this week in Sacramento.

Sales are expected to fall to 410,500 units in 2007, a 14 percent decline from the 477,460 pace recorded in 2006, according to the forecast. The median price of a home will reach $566,500 this year, a 1.8 percent increase from the $556,640 median for 2006.

“Sales have declined in all areas of the state, but higher-end markets have experienced somewhat smaller declines,” said C.A.R. Vice President and Chief Economist Leslie Appleton-Young. “Sales are weakest in areas that had a lot of new home building in recent years or those areas that had been popular for second home purchases. Read More >>

Marin brokers market share report

The following graph compares the top Marin County brokers side-by-side. Frank Howard Allen easily steals the show with 24.5% of the market share, while Pacific Union comes in second at 16.4%.

Click on the graph below for complete details...

Neighborhood Homes Sold | May 2007

Every month we review the recent sales in Marin and spotlight the most surprising transactions in the marketplace. Here are a few hot buys in May that caught our attention...

1. 5 Vineyard Way, Kentfield - $5MM
   5 bedrooms, 4 baths, 3793 sqft, 1953 year
   
   + List Price: $3,998,000 ($1054/sqft)
   + Sales Price: $5,000,000 ($1318/sqft)
   + SP/LP: 25.06% over asking!


At 25% above asking, this 1-acre estate in Kent
Woodlands breaks a new record for Marin.


2. 33 Bayview Ave, Larkspur - $1.76MM
   3 bedrooms, 3 baths, 1874 sqft, 1938 year
   
   + List Price: $1,649,000 ($879/sqft)
   + Sales Price: $1,760,000 ($939/sqft)
   + SP/LP: 6.73% over asking!


This redone Palm Hill home sells in 3-days for
nearly 7% over the list price.


3. 15 Alta Vista, Mill Valley - $1.31MM
   3 bedrooms, 2 baths, 1487 sqft, 1930 year
   
   + List Price: $1,249,000 ($839/sqft)
   + Sales Price: $1,310,000 ($881/sqft)
   + SP/LP: 7.58% over asking!


Once again, that Mill Valley lifestyle commanding
a hefty premium as usual.

Market Summary | May 2007

May was another landmark month for the Marin housing market. While slightly below last month’s record high, the median price for a single-family home still holding steady at $1,035,000. This marks the second month in a row above the once elusive $1MM threshold.

Here's a quick snapshot from the MDH Newsletter with a summary of the market trends for May...

Hot New Listings | June 1, 2007

Weekly feature highlighting the top new listings in Marin. Here is the best of the week...

• 254 Bayview Ave, Belvedere - $3.495MM
  2 houses, street-to-street lot with breathtaking
  views of the bay, possible TIC. More Info >>



• 28 Stetson Ave, Kentfield - $1.189MM
  Beautifully updated vintage charmer, quite tree-
  lined street. More Info >>



• 33 Orange Ave, Larkspur - $1.625MM
  Newer Craftsman built 2002, highly sought-after
  location. More Info >>