Marin Real Estate Pulse

Beginning January 1, 2006, REALTORS® representing buyers have an ethical duty to advise their clients that sellers may not treat offers as confidential. More specifically, when entering into a buyer agreement, REALTORS® must advise potential clients of “the possibility that sellers or sellers’ representatives may not treat the existence, terms, or conditions of offers as confidential unless confidentiality is required by law, regulation, or by any confidentiality agreement between the parties.” 

As a point of clarification, California law generally does not require the existence, terms, or conditions of offers to be kept confidential by either a seller or a listing agent representing the seller exclusively. However, parties may voluntarily enter into a confidentiality agreement. 

Over the past year Marin had changed from a strong Sellers Market to a Neutral or Buyers Market.  At the start of 2005 over 50 percent of the homes on the market were in escrow.  By the end of 2005 the number changed to 30 percent. 

What do these numbers mean?  Generally accepted definitions are: 

• Buyers Market < 25% of listed homes in escrow 

• Neutral Market 25% – 40% of listed homes in escrow 

• Sellers Market >40% of listed homes in escrow 

Marin Real Estate is now in a more “normal” market, one that does not favor either buyer or seller.  This is good news for buyers who can now look around a little before jumping in and at the same time, overall prices are holding so sellers are doing okay too.  Obviously, specific towns and homes are exceptions to these rules.  Call me if you want to know the specifics for your home or town. 

Those of us with children usually take into consideration the schools and their ratings when purchasing a home.  What you may not realize is some schools don’t have the capacity to take all new students that want to enroll. 

In San Rafael, Glenwood Elementary School, one of the top rated in Marin, has reduced their kindergarten enrollment from 80 last year to 60 students this year. This change has to do with classroom capacity, not a change in direction.  Glenwood residents have first grabs at the open spots but if more than 60 show up even residents children will have to go to a different school.  If you don’t live in Glenwood your chances for transferring you child look bleak this year.