Saturday, June 30, 2012

The Bust is Busted!!
As I mentioned here last week, current statistics on Marin housing show improvements in both numbers of homes sold and the median prices for those sold homes. True, there are exceptions to the trend--there always are exceptions to any trend, but the overall move is up--make that UP! Well, in the latest monthly Case-Schiller report, the trend appears to be even more broad based than last week's Marin stats indicated. Of the twenty metropolitan areas that C-S covers, all but one showed an increase in preices over the like period from last year. Better yet for we folks living in the SF Bay area, our area had the largest gain of any area!
So, what does this mean? Well, it means that this is a great time (have you heard me say this before?) to be a buyer or seller. If you're buying, these stats, coupled with continued record low mortgage interest rates, make this a perfect time to be on the market looking for a home, or, if you're happy with your present house, an investment property. Combining cheap rates with a continued upward value trend, a trend that most experts are now predicting will continue, is a great way to build wealth! Buy now--watch values rise and at some time in the future, cash out, or use your then existing property base to expand your real estate portfolio.
If you're thinking of selling, what better time to do so? Low rates mean that more people are able to afford to buy your property, and the increasing values mean that more folks are likely to have an interest in doing so. This is something that could in its own way help you receive a higher price for your property.
If you're interested in either side of the market, or just want to get some good advice, call us--we'd be happy to help you in any way we can. Peter: (415) 279-6466; Jane: (415) 531-4091.

Friday, June 22, 2012

You Heard It Here First!!
Based on numbers from the County Assessor's office, prices and sales in the County have risen this past month. The median price, $781,083, was up slightly from where it was in May of last year, while number of sales, as good a market indicator as any, rocketed up by 36.1% from the year earlier figure. More specifically, there were 230 single family homes in the county sold in May of this year. Mill Valley accounted for 20 of these, while Tiburon had 6, Sausalito had 7, Corte Madera had 12 and Larkspur had 7. Mill Valley's median of $1,120,000 was up 13.1%.
So what does all of this mean? It means that, as I've reported here in the recent past, the market is heating up and, when coupled with continued low interest rates (more on that below), this is an excellent time to buy or sell! People are looking for homes and they come flush with cash I(their own or the banks'). If you have your home on the market, and it is ready to go and properly priced for its details, you'll very likely have a buyer at your door--possibly more than one.
If, on the other hand, you're a buyer, the low rates are still an excellent reason to get moving and buy! When you put that on top of the comparatively inexpensive prices (compared with a few years ago), you have a winning combination! Time to call your Realtor!
I mentioned above I'd have a comment on the continued low rates. This week, the rates (have you heard this before?) dropped to a new historic low for 30 year fixed rate money: 3.66%! Fifteen year fixed rate loans also dropped from the prior week--to 2.95%. While not a record, it's within a couple of basis points of the all time low for 15 year money.
Need help? Want to get some info? Call us! Our contacts: Jane: (415) 531-4091; Peter: (415) 279-6466. We'd be happy to help.

Friday, June 08, 2012

The Latest From Here:
Impossible as it may seem (I mean, How much lower can they go?!), mortgage rates dropped again this past week to, as always lately, a new record low! In an announcement made this morning, the rate for a 30 year fixed loan dropped to 2.94%! Hell, that's almost having the bank pay you to borrow, rather than the usual other way around. In case that's not low enough for you, fifteen year money is now at a fixed rate of 2.34%. So, what does that mean, aside from the obvious fact that money is still getting cheaper? Well, as I've said many times here previously, if you are a buyer, it can't be a better time to ratchet up your hunt for the perfect home! I mean, these rates can't go on forever! Cheaper money means either you buy your home for a lot lower monthly payment, OR, you can buy more house for the same amount of money that you previously were willing to pay. Suddenly, that extra bedroom or bath or a large family room is no longer a fantasy to be put off!
If you're a Seller, what better time to get your home on the market to take advantage of the increased ability of Buyers to buy your home? More buyers can also mean multiple offers and the resulting possibility of a higher selling price.
Got you thinking? Than pick up the phone, or fire up your computer, and get in touch with us! Email:  .  Tel: (415) 531-4091 (Jane) or (415) 279-6466 (Peter). Don't wait!