Pacific Union International | Marin Luxury Homes Report (November 2010)

Pacific Union Int’l – Christie’s Great Estates | Marin County, CA Luxury Home Sales (November 2010) — With 13 trades again in October 2010 (same as the prior month), the luxury property real estate market in Marin County (properties and estates over $2 million) continues to perform in the face of uncertainty. As it is becoming clearer that the overall economic and housing environments are improving, real buyers are making legitimate offers. Pricing in the marketplace certainly suggests “value.” In line with normal seasonal adjustments, the inventory of luxury homes for sale is down (we currently have 149 luxury homes on the market).

Cities recording luxury home sales between $2 million and $4 million in October 2010 included: Tiburon (4), Belvedere (2), Corte Madera (1), Sausalito (1), and San Anselmo (1). These homes averaged 141 days on market. Their average sales price was $2.459 million (roughly $557 per square foot), with an average of 2,459 square feet.

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

Christie’s Great Estates | Tiburon / Belvedere | November 2010 Home Sales Update

Tiburon and Belvedere home sales rose a bit in October 2010 as we experienced twelve sales. Below are the percentages of homes in escrow in each of the major price bands:

• 36% of homes priced under $2 million;
• 7% of homes between $2 million and $3 million;
• 14% of homes between $3 million and $5 million;
• 0% of homes over $5 million.

Tiburon and Belvedere homes that sold in September 2010 exhibited the following characteristics:

• Number of Sales: 12
• Average Days on Market: 128
• Price: $2.369 million
• Square Feet: 3,488
• Price per Square Foot: $668

If you have any questions or would like a custom market analysis of your home’s current likely sales price, please call me at (415) 350-9440. My name is Kyle Frazier. I am a Broker, Certified Residential Specialist (CRS), and Certified Luxury Home Marketing Specialist (CLHMS) with Christie’s Great Estates | Pacific Union International Realtors. It is always my pleasure to be of service.

Pacific Union Mill Valley Real Estate Report (November 2010 Home Sales Update)

October 2010 home sales in Mill Valley totaled 20. These trades sold for an average price of $997, 159 (this figure is much lower than normal as last month’s sales were nearly all under $1.5 million, which is somewhat unusual — September sales averaged $1,307,026) and the homes averaged 2,065 sq. ft. (or about $501 per sq. ft.). It seems September 2010′s sales reflected extreme buyer caution as 19 of the 20 sales were under $1.5 million — on any given month we would expect about 1/2 the sales to be over $1.5 million. Certainly the 13 sales under $1 million helped to clear out some lingering inventory in this entry level price band.

[The remainder of this article is available at www.MillValley101.com]

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 [email protected] 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 e-mail me at [email protected]. It is always my pleasure to be of service. Christie’s Great Estates | Pacific Union International.

San Rafael CA Real Estate Market (Pacific Union October 2010 Home Sales)

San Rafael, California real estate sales in October 2010: 35 homes sold. The entry level price band (under $600K) remains strong — 30 of these homes are currently in escrow. Meanwhile, the $600K to $800K price band (a mix of entry level and move-up homes) remains buyer-friendly and accounts for another 22 of homes in escrow. Interestingly, the entry level market is virtually the only segment of San Rafael inventory experiencing any meaningful traction — for example, of the 35 homes which sold last month, 24 were priced under $800,000. The inventory for single family homes for sale has decreased a bit this month as inventory is absorbed and very few homes come to market this time of year. There are currently 172 homes active on the MLS.

Averages relating to the 28 homes which sold in October 2010 are as follows:

• days on market 123 days
• sales price was $645,316
• home size was 1,814 square feet
• $356 per sq. ft.

Homes in Lucas Valley, Loch Lomond, and Peacock Gap generated the most calls and showings this past month. If you would like me to run the exact numbers for your San Rafael neighborhood or if you have any questions about our many delightful communities, just give me a call at (415) 350-9440. My name is Kyle Frazier. I am a Broker, Realtor, Certified Residential Specialist (CRS), and a Certified Luxury Home Marketing Specialist (CLHMS), with Christie’s Great Estates | Pacific Union International. It is always my pleasure to be of service.

New Homes | The Landing at Hamilton Field, Novato (Marin County, Bay Area)

Located just 16 miles North of the Golden Gate Bridge, The Landing at Hamilton is Hamilton Field is a secluded enclave of luxurious homes reflecting timeless style and contemporary conveniences. These thoughtfully designed homes focus on sophistication, beauty, and community. Residents enjoy spacious and refined interior spaces, modern conveniences, adjacent to a rich wildlife sanctuary. Click HERE for a Virtual Tour of our Model Homes.

An unrivaled passion for excellence and detail is exhibited in each home. The Landing at Hamilton benefits from easy access to recreation, dining, shopping, schools, transportation, and the myriad benefits of living at Hamilton Field in Novato. Pricing begins at approximately $840,000 for the smallest homes and ranges up to approximately $900,000 for the larger homes. There will be four models in up to three elevations, ranging from ~2,432 square feet to ~3,000 square feet.

Please contact Kyle Frazier, Community Sales Director with Pacific Union International Realtors at (415) 350-9440 or [email protected] for more information.

The Landing at Hamilton – Fact Sheet

WEBSITE www.TheLandingNovato.com

LOCATION Hamilton Field, Novato

COMMUNITY SIZE 3.3 Acres

TOTAL UNITS 27 Homes

UNIT SIZES 2,432 to 3,073 sq. ft. – 3 to 5 Bedroom, 2.5 to 4 Bath

FLOOR PLANS Four floor plans

AVERAGE HIGH July:  81°F,  December: 56°F

PROJECT DESCRIPTION

The Landing at Hamilton is a secluded enclave of 27 new, luxurious three- to five-bedroom homes that range in size from 2,432 square feet to more than 3,000 square feet. Designed by the award-winning KTGY Architects and developed by Barker Pacific Group, the four models offer spacious floor plans and refined interior finishes, with options to customize additional rooms as home office, den, loft or library.  The ample lot sizes are an average of 5,500 square feet and can easily accommodate a garden, grassy play area, or peaceful retreat.  With exteriors reflecting Traditional, Craftsman or Mission-era styles, each home is carefully designed to reflect the tastes of the owner.  Together, the residences comprise a sophisticated and beautiful neighborhood in one of Marin’s most attractive settings.

Over the past two decades, Hamilton Field has transitioned from a former US Air Force base to Marin’s largest residential community, with homes offering a rich assortment of new, modern amenities and whose environs meet every need.

Many Hamilton residents work at the adjacent Hamilton Landing, an office park and business hub located at the one-time airplane hangars.  Plus, the new development borders the Bay Trail that runs along the Hamilton levee, adjacent to the Bay wetlands restoration project.  Some of the homes in The Landing neighborhood will have views of the wetlands – the second largest wetlands restoration project in the United States.

Residents will enjoy a short drive to some of Marin’s best shopping and restaurants, including Hamilton Marketplace and Vintage Oaks Novato.  From Peet’s Coffee to Jennie Low’s; from Paradise Foods to Costco – the rich assortment of local amenities, restaurants and retailers make The Landing at Hamilton the perfect setting for Marin’s modern lifestyle.

Community

• Several Parks
• Great Schools
• Newly Renovated Community Pool
• Bay Trail
• YMCA Gym
• Library
• Art Center
• Baseball, Tennis, Basketball, and Sport Courts
• Skateboard Park
• Amphitheater
• Business Park (Hamilton Landing)
• Nearby Shopping and Restaurants
• Convenient Southern Novato Commute

HOME AMENITIES

• 10-Foot Ceilings
• Stainless Steel Appliances
• Granite Countertops
• Designer Cabinetry
• Modern Wiring (including pre-Wiring for Solar)
• Dual Zone Heat and Air Conditioning
• Dual Glazed Windows
• Ample Yard Space
• Laundry Rooms with Sinks
• Energy-efficient oversized windows
• Custom-home options & upgrades
• Many Homes with Views

Marketing

Pacific Union International | Kyle Frazier, Broker Associate | (415) 350-9440

Novato Real Estate Market Update (November 2010)

Even through the suppressed months of sales experienced through most of Marin County, California (from May through October, sales were down county-wide as the stock market fell), Novato’s real estate market continues showing resilience and strength. Indeed, buyers continue questioning pricing in Southern Marin, especially at the high end. Meanwhile, many are looking North (Novato is just 16 miles North of the Golden Gate Bridge) and stepping fearlessly into the Novato homes market. They can confidently do this because Novato’s bottom has formed and pricing reflects unquestionable value.

What You Get Comparison (Novato v. Mill Valley) — Based on last month’s average sales price in Mill Valley, buyers with a $997K budget got a 2,065 square foot house (likely built 50 or 60 years ago and located in a flood zone, the hills, or a choppy neighborhood).

In Novato, buyers with a $997K budget can buy a brand new home (at The Landing, for example) with 5 Beds, 3 Baths, 3,073 square feet, in the flats (not a flood zone), with a pool and park across the street, within a 2-minute walk of YMCA and 3-minute walk to the Library, and access to the Bay Trail. All this is a mere 12 or 13 minutes up HWY 101. Take into account the time it takes to drive surface streets into Mill Valley, any time factor related to the commute into The City can be a wash.

Decision – You be the Judge. Many buyers believe that Novato provides much more bang for their hard earned buck.

[Click HERE for the rest of the article, courtesy of www.Novato101.com]

Marin Luxury Homes Report (Christie’s Great Estates October 2010)

Christie’s Great Estates | Marin County, CA Luxury Home Sales — With 13 trades in September 2010, the luxury property market in Marin County (properties and estates over $2 million) again performed admirably in the face of uncertainty. As it is becoming clearer that the overall economic and housing environments are improving, real buyers are making legitimate offers. Pricing in the marketplace certainly suggests “value” and inventory is steadily increasing — there are now 163 homes actively on the market.

Cities recording luxury home sales between $2 million and $4 million in September 2010 included: Tiburon (4), Mill Valley (1), Belvedere (1), and Kentifield (2). In addition, Nicasio and Stinson Beach also recorded one sale appiece. These homes averaged 154 days on market. Their average sales price was $2.748 million (roughly $784 per square foot), with an average of 2,748 square feet.

Marin County’s ultra-luxury market (homes priced in the $4 million and up range) witnessed three sales last month. These homes averaged 100 days on market. Their average sales price was $5.06 million (roughly $1,177 per square foot) and 4,484 square feet. We currently have 60 homes for affluent buyers to choose from in this high end price band.

Note: As a member of the Marin Platinum Group, I have access to a database with several dozen luxury homes not currently offered on the MLS, but available for sale. Please contact me regarding your specific desires.

By: Kyle Frazier, Certified Luxury Home Marketing Marketing Specialist (CLHMS), Certified Residential Specialist (CRS), Broker Associate, Realtor | Christie’s Great Estates — Christie’s Great Estates. Call Kyle Frazier at 415/350-9440 for more luxury home market information in San Francisco and Marin Counties.

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

Marin County, CA (October 2010 Real Estate Report)

Overall in Marin County, the bottom for pricing seems to have formed. The average price of a Marin County single family home has once again surpassed $1 million. In addition, for the seventh consecutive quarter (since Q1 ‘09) both the average and median price of a single family home has experienced modest appreciation.

Possibly the most interesting phenomenon is this modest price appreciation (2% per annum) occurring in a market of significantly lower units closed.  The number of homes sold in third quarter ‘10 under $1 million fell -16% from the same period a year ago. The number of homes sold over $1 million fell -3% from the same period last year after a -36% drop from Q3 ‘08 to Q3 ‘09. What this tells us is that while the number of sales has slowed dramatically in the past two years, prices have now firmed and we have caught a glimpse of the bottom.

Buyers continue to be cautious and generally only take action on well maintained, well priced homes. Sellers’ pricing of their homes remains critical as buyers feel most comfortable when the list price is within 3% – 5% of fair market value.

One of the most interesting buying opportunities today is the increasing availability of mortgages at historically low interest rates. Buyers in today’s market have the unique good fortune of acquiring real estate when both the home itself and the mortgage are “on sale”. This combination of stable prices and extremely low interest rates provides a unique affordability factor for those in the market.

In this mortgage environment, we are seeing jumbo loans, up to $2 million in loan value, 80% loan-to-value (or $2.5 million purchase price), priced at 5% for a 30 year fixed loan and no points paid at closing. It is only a matter of time before mortgage interest rates and real estate values begin to rise together. And when they do, a 1% increase in interest rates generally equals a $100,000 drop in the price of a home that a borrower can afford.

Looking forward thru Q4 ‘10, we expect stability in pricing, maybe 2% annual appreciation rates, and we expect units sold to remain flat. When the volume (units sold) in local markets increase, the negotiating leverage between buyers and sellers will likely move towards an equilibrium – we do not expect this buyers’ market to maintain its strength in the foreseeable future. The ultimate opportunity seems to be stable housing prices, excellent inventory levels and exceptional mortgage interest rates.

If you have any questions or would like a custom market analysis of your home’s current likely sales price, please call me at (415) 350-9440. My name is Kyle Frazier. I am a Broker, Certified Residential Specialist (CRS), and Certified Luxury Home Marketing Specialist (CLHMS) with Christie’s Great Estates | Pacific Union International Realtors. It is always my pleasure to be of service.