Mill Valley 101 Homes & Real Estate -- Kyle Frazier, Marin Realtor

Marin Real Estate (July 2010)

admin — Mon, 26 Jul 2010 19:42:22 +0000

We have multiple economic drivers and underlying fundamentals that impact our local real estate

markets. Housing prices, interest rates, job growth and inflation/deflation are significant variables in

the Bay Area housing market. While we could not predict either the economic shift that began in

August 2007 or the duration of the economic volatility caused by the shift, we do have a few very

positive fundamentals present today.

Interest rates for conforming mortgages ($729,750) and jumbo mortgages are currently at historic

lows since Freddie Mac started recording in 1971 – see rates in the mortgage rate table on page

two. Housing prices remain 20% - 40% off the 2006 / 2007 peak. Inflation is constrained mainly via

Federal Reserve policy and finally, the San Francisco Bay Area job market, while at a 20-year high

for unemployment has stabilized (10.5%) and may be illustrating signs of stability / modest growth.

Whether cyclical, seasonal or “bouncing across the bottom”, our real estate markets remain

volatile and somewhat unpredictable but they are showing early signs of demand returning to the

market versus the 2006 / 2007 peaks. Many of our indicators have turned positive (“green”) for the

first time in nearly two years. The most encouraging indicator is volume (units and $) returning to the

market. Although we are comparing statistically to Q2 2009 which was arguably the second worst

quarter we may have seen in recent history; the increasing volume is a reflection of client

confidence and a precursor to long term stability and ultimately appreciation. The charts on the

inside pages provide more specifics on the local markets.

I see opportunity in our real estate markets every day. My efforts are always focused on

balancing your priorities for a home, your investment and budget tolerances versus the

dynamics in each local market we serve. I strive to match these investment criteria with my

experience, market knowledge and timing to provide the best advice to you and your family.

Please call on me to review your thoughts on our real estate markets.

Marin Real Estate (June 2010)

admin — Mon, 26 Jul 2010 19:41:23 +0000

Year over year prices seem to have leveled in many price segments and locations within Marin — some areas have even seen prices increase (albeit nominally). Countywide supply and demand figures suggest an improving real estate environment. Supply is up 12% from last year and sales of entry level (3 bedroom, 2 bath homes with at least 1,500 square feet and priced under $1 million) are up a modest 10% from May 2009. Recent news reports in the local media have noted increased median prices, but that reflects the fact that luxury homes are selling once again after a lackluster 2009. I do not believe prices overall are increasing yet.

[For the rest of the article, Click HERE.]

Marin Real Estate (May 2010)

admin — Mon, 26 Jul 2010 19:40:35 +0000

We at Pacific Union International in Marin County, California continue to feel as though the 2010 real estate market is vastly different from that of 2009. Year over year prices seem to have leveled in most price segments and locations within Marin — some areas have even seen prices increase (albeit nominally). Countywide supply and demand figures suggest an improving real estate environment. Supply is up 7%. But the number of sales of 3 bedroom, 2 bath homes with at least 1,500 square feet and priced under $1 million, are up an incredible 191% from April 2009.

As noted in various recent articles, much of the strength in today’s home sales market stems from the red-hot entry level market segment. As would be expected, with relatively flat inventory and more sales, the absorption rate (e.g., the number of month’s worth of inventory) continues hovering at about 3 months for entry level homes. This is very low. Attractive loan terms and a pervasive sense among buyers that we have hit bottom, is resulting in sales. While in other parts of the country the first time hoe buyer credit has fueled sales, that incentive has had a minimal impact in Marin because of the relatively low income thresholds required to qualify. Below is a chart tracking escrows — roughly one-third of homes are in escrow (and this includes ALL homes in every price band).

Kyle Frazier, Broker Associate, Certified Residential Specialist (CRS), Certified Luxury Home Marketing Specialist (CLHMS), Realtor
Christie’s Great Estates | Pacific Union International Marin
(415) 350-9440
E-Mail Kyle Frazier

Marin Luxury Report (July 2010)

admin — Mon, 26 Jul 2010 19:39:07 +0000

As reported in June 2010, “real buyers” continue purchasing “done” homes in prestige locations such as Mill Valley, Belvedere, Ross, Kentfield, etc., along with “value” properties with locational upside, views of San Francisco, southern exposures, and knolltop properties. Marin County’s luxury home real estate market reflects increased sales velocity driven by buyer optimism. In the $2 million to $4 million price band, June 2010 sales eclipsed last year’s total, inventory is down from last year, and the number of homes with accepted offers (in escrow) is high. This combination of factors looks promising for continued improvement. And we are not alone — click HERE for a detailed snapshot of current national trends from the Institute for Luxury Home Marketing. I also believe that the imminent resolution of the tragic oil spill in The Gulf of Mexico will help improve public optimism, which has been suppressed by this calamity.

$2 Million to $4 Million Luxury Homes

True to last month’s prediction, trades were again up significantly in this luxury segment (with 20 sales, Marin County more than doubled last year’s total for the month and equaled May’s numbers) — another 24 homes currently in escrow (more than last month). Pending sales is a good leading indicator of increased sales next month. Certainly, buyers are feeling some urge to buy as it appears that the overall economic and housing environments are improving and pricing in the marketplace increasingly suggests “value.” Inventory remains relatively low at just 159 homes actively on the market (up by 22 from last month).

[Click HERE for the rest of this article, courtesy of www.ImagineMarin.com.]

Marin Luxury Report (June 2010)

admin — Mon, 26 Jul 2010 19:38:16 +0000

As reported in previous months, “real buyers” continue to snap up homes in prestige locations such as Mill Valley, Belvedere, Ross, Kentfield, etc., along with “value” properties with locational upside, views of San Francisco, southern exposures, knolltop properties. Without question, Marin’s luxury home market is showing signs of increased velocity and buyer optimism. In the $2 million to $4 million price band, May 2010 sales eclipsed last year’s total, inventory is down from last year, and the number of homes with accepted offers (in escrow) is high. This combination of factors looks promising for continued improvement. And we are not alone — click HERE for a detailed snapshot of current national trends from the Institute for Luxury Home Marketing. The below chart shows the dramatic increase in the number of luxury homes sold in Marin County, as compared with last year.

$2 Million to $4 Million Luxury Homes

True to last month’s prediction, sales were again up significantly in this luxury segment (with 20 sales, Marin County more than doubled last year’s total for the month). Incredibly, we have another 27 homes currently in escrow (more than last month). Pending sales is a good leading indicator of increased sales next month.Certainly, buyers are feeling some urge to buy as it appears that the overall economic and housing environments are improving and pricing in the marketplace suggests “value.” Inventory remains relatively low at just 137 homes actively on the market.

[Click here for the rest of the report courtesy of www.ImagineMarin.com]

Marin Luxury Report (May 2010)

admin — Mon, 26 Jul 2010 19:37:11 +0000

Pacific Union International is the leading broker for Marin County luxury homes.

As with many of Marin County’s micro-markets, Marin’s luxury home market is showing signs of increased velocity and buyer optimism. As reported in previous months, “real buyers” continue to snap up homes in prestige locations such as Mill Valley, Belvedere, Ross, Kentfield, etc., along with “value” properties with locational upside, views of San Francisco, southern exposures, knolltop properties. In the $2 million to $4 million price band, sales have eclipsed last year’s low numbers, inventory is down significantly and the number of homes with accepted offers (in escrow) is very high. This combination of factors looks promising for continued improvement. And we are not alone — click HERE for a detailed snapshot of current national trends from the Institute for Luxury Home Marketing. The below chart shows the dramatic increase in the number of luxury homes sold in Marin County, as compared with last year.

[Click on the following link for the rest of the report courtesy of www.ImagineMarin.com]

Pacific Union Real Estate Mill Valley CA. Real Estate Report (July 2010 Home Sales Update)

admin — Sat, 24 Jul 2010 14:54:13 +0000

The number of homes sold in the Mill Valley, California real estate market rose and Mill Valley’s touchstone price band ($1 million to $2 million) posted another solid month. In contrast to the previous three years, buyers now speak confidently about our market, recognizing that prices have tumbled significantly, interest rates are extraordinary, jobs numbers have improved, and media coverage concerning real estate has turned positive. Moreover, we are seeing an improved marketplace in San Francisco which is the bellweather for Mill Valley and Marin.

The number of homes for sale in Mill Valley is down incrementally to 143. After the brief slow period in the Summer we can expect increasing inventory after Labor Day. Mill Valley’s entry level price bands (under $1,000,000) are as strong as we have seen them over the past couple of years. Moreover, bread and butter homes of $1.5 mil. and up remain strong and that market segment exhibits undeniable leading indicators of a strengthening market. The chart below tracks prices of “for sale” and “sold” homes at or above $1.5 million compared with last year. Indeed, asking prices are down 6% and sales prices are up 17%. This trend is not evident in every price band.

Mill Valley’s 24 sales in June 2010 gave rise to the following averages: an average price of $1,239,025; and about 2,273 sq. ft. (or about $597 per sq. ft.). Note that the price per square foot number is prone to wild swings from month to month. For example, three months ago, the price per square foot was $640 in Mill Valley. This is because the composition of sales varies dramatically from month to month — at best, price per square foot is a blunt instrument. Homes in Tam Valley, Scott Valley, Sycamore Park, and Country Club generated the most calls this month.

If you would like more information about neighborhoods, sales, schools, or local Mill Valley services references, just give me a call at (415) 350-9440 or e-mail me at Kyle@MillValley101.com.

p.s. I currently have several clients who want to sell, but are waiting in the wings. Please contact me to determine if any of these opportunities fit your needs. I am also a member of the Marin Platinum Group with access to dozens of homes not “officially” on the market but available for sale. If you would like my Mill Valley Hot List, call or e-mail me: (415) 350-9440 | Kyle@MillValley101.com.It is always my pleasure to be of service. Christie’s Great Estates | Pacific Union International.

Pacific Union Real Estate Mill Valley CA. Real Estate Report (June 2010 Home Sales Update)

admin — Fri, 18 Jun 2010 15:49:02 +0000

Similar to May 2010, the number of homes sold in the Mill Valley, California real estate market rose and Mill Valley’s touchstone price band ($1 million to $2 million) posted another solid month. Buyers are again speaking confidently about the market as prices have tumbled, interest rates are extraordinary, jobs numbers have improved, and media coverage concerning real estate has turned positive. I have a strong sense that many feel a tailwind.

The number of homes for sale in Mill Valley is up marginally to 147. Summer is upon us, school is out, and the primary selling season has wrapped up. Mill Valley’s entry level price bands (under $1,000,000) are as strong as we have seen them over the past couple of years. Moreover, the luxury price band of $2 mil. to $4 mil. is HOT — 32% of these homes are in escrow) several with multiple offers — of course, the ones that are selling are priced extremely well). The chart below show that median sales prices have equalized for 3 bedroom, 2 bathroom homes under $1 million compared with last year.

Mill Valley’s 20 sales in May 2010 gave rise to the following averages: an average price of $1,161,875; and about 2,059 sq. ft. (or about $530 per sq. ft.). Note that the price per square foot number is prone to wild swings from month to month. For example, two months ago, the price per square foot was $640 in Mill Valley. This is because the composition of sales varies dramatically from month to month — at best, price per square foot is a blunt instrument. Homes in Tam Valley, Scott Valley, Sycamore Park, and Country Club generated the most calls this month.

Get It Now (Entry Level Mill Valley Home For Sale):

617 Springfield Way in Tam Valley is now on the market. Priced at $865,000, this private home (with a new roof in June 2010) sits on ~1/3 acre at the end of a serene cul de sac in a magnificent setting. It features 3 bedrooms and 2 baths upstairs, along with a large unit downstairs which would be perfect au pair quarters or income — it has rented out recently for ~$1,000/mo.

If you would like more information about neighborhoods, sales, schools, or local Mill Valley services references, just give me a call at (415) 350-9440 or e-mail me at Kyle@MillValley101.com.

p.s. I currently have several clients who want to be sellers, but are waiting in the wings. Please contact me to determine if any of these opportunities fit your needs. I am also a member of the Marin Platinum Group with access to dozens of homes not “officially” on the market but available for sale. If you would like my Mill Valley Hot List, call or e-mail me: (415) 350-9440 | Kyle@MillValley101.com. It is always my pleasure to be of service. Christie’s Great Estates | Pacific Union International.

Pacific Union International Mill Valley CA. Real Estate Market (May 2010 Home Sales Update)

admin — Sat, 15 May 2010 14:05:53 +0000

The number of homes sold in the Mill Valley, California real estate market rose again in April 2010 and Mill Valley’s touchstone price band ($1 million to $2 million) has posted another great month. As stated last month, it has been more than three years since buyers have spoken confidently about the market, but they are now. Low interest rates, improved jobs numbers, a string of positive local and regional real estate news stories, and a stronger stock market environment has buyers again feeling secure in the fact that they are buying with a tailwind.

The number of homes for sale in Mill Valley is tapering as we move through the Spring selling season — we now have 135 homes on the market. Mill Valley’s entry level price bands (under $1,000,000) are as strong as we have seen them over the past couple of years. Perhaps most telling is the fact that the median sales price in Mill Valley for 3 bedroom, 2 bath homes is up 31% from last year.

Mill Valley’s 25 sales in April 2010 gave rise to the following averages: an average price of $1,392,360; and about 2,398 sq. ft. (or about $575 per sq. ft.). Note that the price per square foot number is prone to wild swings from month to month. For example, last month, the price per square foot was $640 in Mill Valley. This is because the composition of sales varies dramatically from month to month — at best, price per square foot is a blunt instrument. Homes in Tam Valley, Scott Valley, Sycamore Park, and Country Club generated the most calls this month.

617 Springfield Way in Tam Valley is now on the market. Priced at $865,000, this private home sits on ~1/3 acre at the end of a serene cul de sac in a magnificent setting. It features 3 bedrooms and 2 baths upstairs, along with a large unit downstairs which would be perfect au pair quarters or income — it has rented out recently for ~$1,000/mo.

If you would like more information about neighborhoods, sales, schools, or local Mill Valley services references, just give me a call at (415) 350-9440 or e-mail me at Kyle@MillValley101.com.

Marin Real Estate (April 2010)

admin — Sat, 01 May 2010 03:52:50 +0000

The sun is out and spring sports are underway – it is officially real estate season. We have reviewed cyclical and seasonal trends in MarinCounty in an effort to predict the balance of 2010. We are more optimistic today than we have been in twenty four months. It seems consumer demand for Marin and San Francisco real estate is regaining its stride. While some real estate decisions can be postponed, eventually buyers need to buy and sellers need to sell. New listings and new escrows are both up over 100% since the turn of the year.

April 2009 marked the inflection point when buyers began cautiously re-engaging with the Marin County real estate market. A year later, Q1 2010 results for volume ($) and units (#) are up significantly in the core of the market. Like the job market, the first quarter of 2010 may also indicate the stabilization of pricing; a required first step in our market’s recovery. As we look forward in 2010 we are encouraged by the recent increase in MarinCounty (and Bay Area-wide) new inventory (listings). Since March 1st, MarinCounty has seen over 450 new listings. Over 175 of these homes have list prices in excess of $1 million.

We continue to analyze buyer behavior and sense their confidence when properties are well priced, staged, and properly presented. Buyers are dismissive of homes that are “over-priced” in order for sellers to leave room for “negotiations”.

[Click HERE for the rest of the article, courtesy of www.NorthBayRE.com.]