San Rafael, CA

San Rafael, California real estate sales were brisk in October 2009. We experienced 44 trades, up from 31 in September 2009. The entry level price band (under $600K) remains at hot, with 70% of home now in escrow, up from 64% last month. Meanwhile, the $600K to $800K price band (a mix of entry level and move-up homes) remains nearly the identical to last month (36% of these homes are in escrow).

It is no secret that our current real estate environment in San Rafael favors buyers, not only because of the state of the market, but also because of superior interest rates, FHA loan availability (allowing purchase loans up to $729,000 with 3.5% down), and a shifting mindset by both buyers (who are ready to pull the trigger) and sellers (who are ready to do what it takes to sell). Meanwhile, housing inventory for single family homes fell to 135 homes (from 154 last month).

As reported this Summer, San Rafael listing prices experienced a brief rise from March to June, but that trend has reversed and resumed its downward trajectory. By comparison, asking prices in Novato have been rising for several months, leading many to believe that the bottom has formed in Novato. It does not appear this transition has fully settled in San Rafael.

[Click HERE for the rest of the article, courtesy of www.SanRafael101.com]

As of November 6, 2009 34% of available listings in San Rafael are in escrow.

For the month of October 2009 57 homes (8 of which were distress sales) sold in San Rafael, for an average final selling price of $728,242.

The average original asking price of these homes was $768,712.

The range of final selling prices was from a low of $140,000 to a high of $3,100,000.

Of the 57 homes that sold 8 sold at their original asking price and 10 sold for more than their original asking price.

It took these homes an average of 97 days to sell.

To see everything that is currently available for sale through our MLS, click here.

To learn more about this area, visit my website or feel free to contact me directly.

I just sold this Eichler home located on a sunny and quiet lot in Marinwood California.

Originally listed with another agent for almost 1 year who was unable to sell the property, I was able to list, re-stage, aggressively market, and sell this Eichler home for over the asking price before the first public open house.

This was a very fulfilling transaction for me since the sellers were anxious to move on with their lives and move into a retirement community however they couldn't make the transition until their home was sold. Once they re-listed their home with me, I immediately went to work on staging it with current furnishings, painted several walls, had the home professionally photographed, and then implemented a fresh online and offline marketing campaign for the home which signficantly enhanced its visibility to prospective buyers.

The result was an above asking price offer before the first public open house. The final sale price was $645,000 and my clients were elated to receive this price which was $50,000 more than what they had just been told their home was worth in this current market by their previous agent.

If you are thinking of selling a home in Marin County, I would welcome the opportunity to assist you! Contact me at 415-342-4537 to request a free, no-obligation estimate of your homes value and to also learn more about my unique, online & offline marketing campaign that will make the sale of your home a success!

Renee Adelmann, Owner & Realtor Marin Modern Real Estate

San Rafael, California’s real estate market continues leaning heavily on foreclosures and short sales for volume. The entry level price band (under $600K) remains at a slow boil with 64% of home are now in escrow, same as last month. Meanwhile, the $600K to $800K price band (a mix of entry level and move-up homes) rose to 38% of homes in escrow from 31% in September 2009).

It is no secret that our current real estate environment favors buyers, not only because of the state of the market (e.g., prices back down to 2003 levels in many cases), but also because of superior interest rates, FHA loan availability (allowing purchase loans up to $729,000 with 3.5% down), and a shifting mindset by both buyers (who are ready to pull the trigger) and sellers (who are ready to do what it takes to sell).

Housing inventory for single family homes in San Rafael fell to 154 homes (from 169 last month). It is interesting to note that while San Rafael’s inventory has risen and its percentage of homes in escrow has dropped, Novato (the next city north) has experienced the opposite. In fact, in the move up market, Novato sales rates eclipse San Rafael’s by a long-shot.

As reported this Summer, San Rafael listing prices experienced a brief rise, but that trend has reversed and resumed its downward trajectory. By comparison, asking prices in Novato have been rising for several months, leading many to believe that the bottom has formed in Novato. It does not appear this phenomenon is being replicated in San Rafael.

[Click HERE for the rest of this report, courtesy of www.SanRafael101.com.]

As of October 9, 2009 31% of available listings in San Rafael are in escrow.

For the month of September 2009 42 homes sold in San Rafael for an average final selling price of $633,508.

The average original asking price of these homes was $687,268.

The range of final selling prices was from a low of $99,000 to a high of $1,250,000.

Of the 42 homes that sold (17 of which were distress sales) 3 sold at the original asking price and 5 sold over the original asking price. All others sold for less.

It took these homes an average of 103 days to sell.

To see everything that is currently for available for sale on our MLS, click here.

For more information about this area visit my website or feel free to contact me directly.