Archive for October, 2007

Picture of San Anselmo Flood Dec 2005

Wednesday, October 31st, 2007

House
Downtown  San Anselmo under four feet of water December 31, 2005

We are coming up on the two year anniversary of the San Anselmo flood.  Real estate values in the flood zone tend to lower right after the flood but then after a few years it is forgotten, or the thinking is this will not happen again for decades.  If you are in a flood area my advice is to get flood insurance.

Warren Carreiro

Warren@RealtyOfMarin.com

Sneak Peek at October Marin Real Estate

Tuesday, October 30th, 2007

These figures are from BARIES MLS as of October 25, 2007.  Not all October sales are in but this is how it is looking.  First of all, contrary to some of the newspaper headlines, home prices in Marin are holding pretty well.  Sales are down, but prices are strong.  I would also like to mention that one month does not make a trend.  Also, those these numbers don’t really show it, prices are very soft in specific areas (Novato) and price ranges (the lower end).  These statistics are for all of Marin and include both single family homes and condominiums for all Marin county realty.

Year    #Sold    Median Price   Median Sq.Ft.

2007      132        $927,000        1,606

2006      197        $866,250        1,672

Warren Carreiro

warren@RealtyOfMarin.com

http://www.realtyofmarin.com/

Remember How Greenbrae Looked?

Monday, October 8th, 2007

House

This picture was taken from where the current Fire Department in Greenbrae is located near Bon Air. The Fire Department was there but the patch of water I was sailing in is now filled in with land, has homes, a park and a road.

Longs Drug Store in Bon Air Shopping Center was not built yet.  There was a drug store at the other end of the mall, currently Wells Fargo is taking that space.

Just to the right of the picture was a “yacht club” if you want to call it that. It was nothing more than a locked-in fenced area where we could keep the small sail boats.  We would have formal races on the weekends.  What do kids do today?

By the way, that is me in the sail boat.  If you have an old photo you would like to share send it to me.

Warren Carreiro

warren@RealtyOfMarin.com

http://www.realtyofmarin.com/

Selling Activity by Price Range for Marin Real Estate

Friday, October 5th, 2007

 October 5, 2007  It is a buyer’s market in Marin for single family dwellings for all price ranges except homes $500,000 or less. For most of the country  that price range would get you a nice home but not in Marin County. With Marin realty you get a starter home, either a fixer and/or on a busy street.  I should know, I am a Realtor, Warren Carreiro, and that was the type of starter home I had years ago.The reason it is a strong buyers market for the lower end is those are the buyers that were coming out of rentals and usually did not have a large down payment saved.  The banks said no problem, you can fog a mirror, so just sign here.  That is why we are in the credit mess.  I you have a down payment and good credit the money is there for you and at good rates.  If you can’t afford your payment when it adjusts your should not buy the house.

One method we use for getting a real-time snap shot of market activity is to look at the percentage of available homes in escrow. This tells us how strong the market is and we can look at this by price range and city or many other combinations.

Price Range               % in Escrow            Remarks 

Under 500k                 25%                           Neutral Market

500k -1 Million           18%                           Buyer’s Market

1-2 Million                  19%                           Buyer’s Market

2-5 Million                  10%                           Buyer’s Market

Over 5 Million            13%                           Buyer’s Market

The usual definition of a buyer’s market is less than 25% of homes in escrow.  This holds true for the majority of homes, however, for the high-end I don’t feel it accurately reflects market conditions.  For example, in Marin, sales of homes over five million dollars have doubled this year.  

Call or email if you have any questions.  Warren Carreiro
warren@RealtyOfMarin.com

http://www.realtyofmarin.com/