Archive for November, 2006

Fall in Marin

Friday, November 3rd, 2006

I could not resist sharing this picture of Lincoln Park in San Anselmo.� Isn�t Marin a great place to live.

Warren Carreiro
415-846-7286

Fall in San Anslemo

Take Advantage of the Buyers Market

Wednesday, November 1st, 2006

Some homes are selling at bargain prices, how can you take advantage? Several motivators encourage sellers to accept a low bid. A few of them are purchasing a new home without selling first. The home started overpriced and has been sitting on the market too long. A divorce, job transfer, financial problems or seller that have adjustable rate mortgagees that are rising faster than expected; as well as a sellers reduced income. It is the Realtors job to determine why a house is on the market and the motivation of the seller. Think of this as helping someone get their home sold; if they dont like your offer they dont have to accept it. Sometimes sellers will ask, Why doesnt someone just offer me a lower price? Some sellers dont want to lower the price because they feel any offer they receive will be under the asking price so they want room to negotiate. If the asking price seems out of line and you like the home write an offer based upon the value you feel is correct.
Some homes with unique features or superb locations are still selling quickly with multiple offers. Remember just because you can get a low price does not necessarily mean you have a good deal. In a soft market poor location, an awkward floor plan can be some of the most difficult to sell.
Prices are down, interest rates are low so, if you plan on living in the home for several years this may be the time to take the plunge and get the home you have always wanted

Warren Carreiro

415-846-7286

The Most Expensive Homes in Marin

Wednesday, November 1st, 2006

In the last five years, the most expensive home sold in the Marin MLS was $10,000,000, located in Tiburon. There currently are twelve homes listed ranging in price from $10,000,000 to $27,000,000. This does not include an expired listing for $35,000,000. To be sure, these are extraordinary homes, however, if the past is an indication of the future these will not be easy to sell. Using the rule of thumb of 1 %, the annual property tax on the $27,000,000 home will be $337,500. If you had to ask, you probably can not afford it!

Warren Carreiro

415-846-7286

What the Changing Real Estate Market Means to You

Wednesday, November 1st, 2006

Sellers have turned over control of the Marin Real Estate market to buyers. This is great news if you are looking to buy a home or condominium. For the most part gone are the days of multiple offers and seller wish list. I am often asked, prices are coming down, should I wait to purchase?. If history is an indication of the future the answer to that question is dont wait.
We have all seen the headlines about real estate prices, they are going up, they are going down. Often one piece of a story makes the headline because it is sensational. Many factors affect the price of real estate; economy, jobs, interest rates, supply & demand, etc. In Marin, the supply islimited, not many new homes can be built, so when we talk about supply we should be discussing the supply of active listing for sale. This tends to be a leading indicator of where prices are heading. When the number of active listings is low, sellers are seeing multiple offers. When the number of active listing increases, it turns to a buyers market.
Around this time last year Marin had approximately 1,000 active listings, currently we have 1,400. In line with this increase in inventory, prices have softened. What I find interesting is from the middle of July the number of active listing has leveled off.
Marin Active Listings

Warren Carreiro

415-846-7286