Kevin McGinnis and Associates of Frank Howard Allen just sold another Novato home. This time it was 712 Del Mar Avenue, a custom-built Cape Cod-style home on a beautifully landscaped lot. It featured four bedrooms, two baths and a gourmet kitchen with oversized island.
As part of his outstanding Novato real estate service, Kevin had the home professionally staged by Picture it SOLD! Home Staging so it would stand out among its competitors in this "crowded" marketplace. He also provided professional, wide angle photographs of the property, which are so critical in the successful marketing of a home. According to the National Association of Realtors, 87% of buyers begin their home search online. So, having quality photos - and lots of them - is more important than ever in attracting potential buyers to the house.
Kevin also marketed the property on dozens of other real estate websites, including a personalized website created just for 712 Del Mar: http://712DelMar.com He also posted a show on You Tube to capture even more internet "eyeballs."
Kevin held the house open on regular Sundays, used strategically placed real estate signs, bought newspaper advertising, generated property flyers and followed up promptly with all interested parties. In the end, as always, the smart work paid off, and the sellers were happy with the result and could move on with their lives out of state!
If you are thinking of selling in 2009, we can help. Kevin McGinnis and Associates understands the Novato real estate market and can give you the best information to assist in your decision making. We look forward to working with you!
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We've heard a lot about interest rates lately. Just yesterday the Federal Reserve cut one of its key interest rates to zero. While that won't directly affect mortgage interest rates, it did cause rates to fall.
Yesterday, the average interest rate on a 30-year fixed mortgage was 5.01%. That's down from an average 5.29% just last week! Today, our in-house mortgage broker here in my office said she found a rate for a 30-year fixed at just 4.60%. These are the lowest rates in 4-1/2 years.
At that rate, it's really not worth even being in the lending business if all you're going to make is 4.60%! And rates may even be headed lower. The government is doing all it can to bring them down below 4% in order to spur more home sales.
I take away from this a sort of "perfect storm" (to re-use an already tired cliche) in the housing market. Low, low, low interest rates with housing prices off their highs by as much as 30% in some places here in Marin. And in the north end of the County, Cal Trans is just about finished with the widening project that could shave 20 minutes off the morning and evening commutes to Northern San Rafael and Novato.
Needless to say, I'm optimistic about 2009! Drop me a note or visit my website at www.BestHomesMarin.com
I happened to run some numbers for home sales in Novato the other day, comparing October, 2007 to October, 2008. I was astonished at a number I found.
In 2007, Novato's average price for a single-family home was $790,550. This year, that number fell to $739,359, representing a 6.5% decline. Average days on market stayed exactly the same year-over-year at 113.
But the number of homes sold really surprised me. In October, 2007, 20 single-family homes changed hands. This year, it was 36, or an 80% increase over last year!
Of course, the lower end of the market is leading the way and more expensive homes remain a tough sell. But clearly investors believe we're at a great time to buy and have stepped up to the plate. While I knew sales were up, I had no idea that number was as high as it was.
This alone should counter the gloom and doom headlines and offer some hope that eventually we will reuturn to a healthier market.
If you are familiar with Marin County Real Estate at all, you know that Tiburon and Mill Valley are situated right next to each other. Each is in Southern Marin, close to the Golden Gate Bridge and San Francisco. Each is highly desirable and each abounds with beauty.
But in this year's changing real estate market, they are both very, very different.
First, Tiburon's average home sales price this year is $1,865,457. Last year-to-date it was $2,084,147, representing a drop this year of 10.5%. Not bad, compared to other parts of the country, but very difficult to believe in Southern Marin. Home sales are down almost 21%, and average days on market is 107 this year compared to just 59 last year.
Next door in Mill Valley, however, this year-to-date average selling price is $1,494,507. A real bargain compared to Tiburon, right? Well, that number represents about a 16% RISE in prices over last year's $1,283,893 prices! That's astonishing given that unit sales have dropped 40% year-over-year.
It just goes to show you that all real estate is local, even in Marin County. It pays to know your market and it pays to do your homework.
As always, please email with questions kmcginnis@fhallen.com or call (415) 725-1911. Take care! www.BestHomesMarin.com
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Kevin McGinnis and Associates of Marin and Sonoma provides premium service through communication, competence and skill. Kevin uses the latest technology to market homes in this changing environment.
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