Archive for May, 2006

New York Times has error on Marin Real Estate

Wednesday, May 10th, 2006

 

May 10, 2006 

 

Today the electronic version of the New Times has an article that discusses the real estate “chill” and they happen to mention a home in San Rafael, California at 57 Marina with an original asking price of $1,450,000 now down to $949,000.  The REAL Original listing price was $1,045,000, somewhat of a difference. 

 

http://www.nytimes.com/2006/05/09/business/09home.html?ex=1147406400&en=306cfc6710d45eb2&ei=5087%0A 

 

By the way, the San Rafael, California and Marin County California in general are not a buyers market at this time. 

 

Warren Carreiro 

Are Marin Homes Selling Over the Asking Price?

Sunday, May 7th, 2006

Last week (May 1 – 5) forty-eight homes and condominiums sold in Marin real estate MLS service.  A little follow-up shows of those 48 homes: 

15 had a Price Reduction. 

Zero had a Price Increase. 

18 Sold At the Asking Price. 

7 Sold Over the Asking Price but 2 of those sold over the Reduced Asking Price. 

21 Sold Under the Asking Price but 9 of those sold Under the Reduced Asking Price. 

The bottom line is most homes are selling under the Asking Price and most homes with a price reduction sell under the reduced price.
Homes that are in good condition and priced correctly sell for the best price.

Update on Marin Real Estate

Tuesday, May 2nd, 2006

When we quote statistics on Marin homes you have to understand that the numbers you see are on closed sales so that typically means pricing the home, getting it ready to sell and closing escrow.  That time period from start to finish is usually two months or so.  The reason I mention this is Realtors usually feel a change before the statistics show the change.  That being said I ran the numbers on Marin homes sold between $1,000,000 and $1,500,000 for last month, the same month last year and the change from March 2006 and April 2006.  Marin homes in this price range, if priced properly and in excellent condition often are selling fast and many with more than one offer.¼br />  

Following is the information on Marin Single Family Homes priced between one and one point five million.
April 2005: Number of sales 66, Average Days on Market 36, Sales to Ask Price 105%*
April 2006: Number of sales 56, Average Days on Market 43, Sales to Ask Price 100%*
March 2006: Number of sales 48, Average Days on Market 69, Sales to Ask Price 102%*
The rain has stopped and people are buying again, homes are not staying on the market as long.
* Sales to Ask Price is for homes sold in the first 30 days.