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Ted Strodder


415.377.5222
Golden Gate
Sotheby's International Realty
189 Sir Francis Drake Blvd
Greenbrae CA 94904

July Home Sales in Marin: Market Dynamics Remain For Buyers and Sellers

It’s July in Marin, one of our nicest months for weather and outdoor activities. Granted, our temperate climate allows for great hiking, biking and general playtime around the county nearly all twelve months of the year. But May thru October are the most predictable for warmth and clear skies. Don’t get me started on the last few winters, where we saw 70 degrees in January and very little rain. That’s for a whole different blog. For now, those of you who live here, enjoy one of the best places to live in the whole United States. Not the most affordable, mind you, but certainly some of the highest quality living you can find, but with an ever-increasing desire for new residents to live here also. Hence, the driving force of our slowly appreciating home prices, which brings a challenge for not only transplants, but also for existing residents.

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Riding at Stafford Lake, Novato

As anyone who has followed our home sale market knows, inventory is always tight here. In any given area, there are a fixed supply of homes and condo’s for sale. In some small towns, like Larkspur or Kentfield, it’s likely you’ll see a total of 6-10 places for sale in the entire town, in all price ranges. Smaller areas, like Greenbrae? Sometimes only 4-5 homes for sale. Total. So choices remain slim and smart buyers tend to get used to these two words pretty quickly: compromise and flexibility. Well, that’s three words, but you get it.

Most agents tell their buyers to look for a 6 out of 10 home. If they find that, consider making an offer. If it’s got 7 or 8 out of 10, make a strong offer, 9 out of 10, just buy the place at almost all costs. Rest assured, there is no 10 out of 10. At least not in my 29 years, regardless of the sales price. I sold a house to one of the early Google engineers, who bought a new house for $5.1 mil. They spent $150,000 opening a kitchen wall and changing quite a few things around to make it their own. After that work and the installation of an organic garden, it was then a 10 out of 10 for them. So buyers, be flexible. I’m sorry about the limited choices here. In most other areas of the entire country, you would have a lot more to choose from, but that’s the way it’s always been here.

As of July 1st, there are 341 homes for sale in the entire county. Add in total condo’s and you get 411 housing choices in our county of 255,000. This is down from 440 this time last month. And this is the busy listing season, so if you see something out there that’s even just “attractive”, maybe consider it. The sooner you buy the cheaper it will be, yes, but also the less of a tax base you’ll have going forward. Even if prices trickle up 6%-8% a year on average, Prop 13 calls for a maximum of a 2% increase each year. It’s not a lot, but it tends to add up once you get over $1 mil in sales price.

Sellers? Any honest agent will tell you that selling your home shouldn’t be difficult. The challenge is, where you gonna move to? If it’s Houston or Phoenix, you will have dozens of homes to choose from in every price point. Here, not so much. So do your research and have a plan in place before you even think of selling.

That’s it, enjoy July wherever you are. If you want to friend me on Facebook, drop me a note and we can connect to stay in touch!

All the best,

TS

Text or call 415.377.5222

ted@gomarin.com