Archive for September, 2007

Sales of Five plus Million Dollar Homes Takes off in Marin

Tuesday, September 25th, 2007

First time buyers may be having a tough time getting into Marin real estate (and they have some great deals to choose from) but that doesn’t seem to be the case for the exceptional luxury homes.  Just look at the number of sales for homes five million and higher (these figures are for January 1st thru September 25th of each year. 

Year           Number of Sales

2007                  24

2006         12

2005         12

2004         10

2003         10 

Warren Carreiro

warren@RealtyOfMarin

www.RealtyOfMarin.com

415-846-7286

The Marin Realtor

Friday, September 7th, 2007

 You may have noticed that I have changed my URL from

http://www.themarinrealtor.com/ to

 http://www.realtyofmarin.com/

I am a REALTOR® and the National Association of REALTORS® kindly pointed out that descriptive words should not be used in front of the word REALTOR®  because it is not in compliance with the trademark rules. If you search the Web you will notice that many REALTORS® still are not in full compliance, but not me, any longer. 

I kind of like Realty of Marin anyway, how about you?

Warren Carreiro, nee The Marin Realtor

Broker

warren@RealtyOfMarin.com

warren@RealtyOfMarin.com

Marin County August 2007 Sales Stats

Friday, September 7th, 2007

I’ve had the sales stats prepared for publishing on my Blog but I kept holding off on releasing them.  The numbers don’t look bad, sales are down, but that is not the issue.  When the market is rapidly changing the stats lag and don’t tell the real story. As a Marin REALTOR, I can tell you what you already know; Marin real estate sales are slow. 

In some areas prices are taking a hit.  Novato entry level homes are sitting on the market.  The banks actually require buyers to qualify for loans, what a novel idea.  If you have a good down payment and credit, loans are available at decent rates.  The most expensive loans are fixed rate, 30 year Jumbo (over $417,000).  If you go with a five or seven year fixed rate loan rates are very competitive.

Where are home prices going in Marin?  Like everyone else I don’t have a crystal ball but I can say that in the past forty years the average sales price in Marin (based on MLS) has increased in all but two years, 1991 and 1992.  That drop in average sales prices was less than 3%.  What other California counties have that type of stable price history?

August 2007

Marin Median Price                       $940,000

Median Days on Market                56

Number of Sales                            223

August 2006

Marin Median Price                       $890,000

Median Days on Market                50

Number of Sales                           300

A few things about these numbers; one month is too short a time period to see the whole picture and they also don’t take into account the sales (which have not closed yet) since the mortgage mess hit the fan.  It is a buyer’s market, and buyers are finding some good deals. 

Warren Carreiro, Broker

warren@RealtyOfMarin.com

Marin County Real Estate

Marin REALTOR