Corte Madera CA Real Estate 2009 Review

February 12, 2010

Filed under: Corte Madera — dwdupont @ 7:27 am

Marin County Real Estate
In the last 44 years, there have been only two years (excluding 2008 & 2009) when average home prices in Marin County have decreased from one year to the next: -1.2% in 1991 and -1.4% in 1992– after the S&L crisis.

Marin County average residential home prices fell -12.7% in 2008 and -21% in 2009.  

 A unit-sale weighted average of Southern, Central & Northern Marin show Southern Marin prices are down -17.4%, Central Marin down -13.1%, and Northern Marin down -18.4% from 2008 levels.

For much more more information from a mile high perspective please see right nav bar, click & read “Marin Update”.

Corte Madera Real Estate
Corte Madera Real Estate is down about 25% from its peak in 2007. SFR homes are off 22% and condos are down 13%. Units sales of condos have held up better than unit sales of SFR which is why average prices for all residential are down more than either SFR or condos.

33% of the homes on the market are in contract in Corte Madera. This is a very positve number and is a great example of the surge in demand that hit the market in mid November and continued into February.  In a typical year most sellers pull their unsold listings off the market around Thanksgiving and keep them off thru Super Bowl Sunday.  We are currently seeing the most demand since Summer of 2008. Sellers are advised to list their homes as soon as possbile. note that 67% of homes in the bottom quartile are currently in contract.

Corte Madera CA Real Estate Current market data

Corte Madera CA Real Estate Current market data 2

We should start to see more inventory hitting the market every day for the next 90 or so days.

Below is the the 40 year price chart for Corte Madera. Notice how similar it is to the Marin Average.

Corte Madera CA Real Estate 35 Year house price table

Corta Madera tracks the Marin average very closely…

Corte Madera CA Real Estate Annual Return line chart

Notice the rates of return above and below when you add the effects of leverage (mortgage). Why would you invest your money in anything else? During the early Bubble years I worked at Merrill Lynch as CFP/Financial planner/advisor and everyone i spoke with in the Bay Area was investing in real estate. Young professionals were taking $50,000 bonus’ and leveraging up into $2mm investment properties. I tried to tell everyone we were approaching the end of the cycle and that prices were bound to correct. Unfortunately– there was no data to draw from that showed that real estate prices could actually go down… so everybody assumed it was a risk free investment; and by comparison stocks, bonds and mutual funds looked relatively boring with low returns.

Below: notice the drop in Lot Values and location values for Corta Madera SFR and Condos… my buyers have used this information to create value for themselves in both their negotiations as well as their targeting of homes… Call Dave for more information 415-867-6611

The next 5 Graphs represent quarter pricing relative to the same time period over a period of years. While Corte Madera has seen a 14% price drop, it is more mild that other towns which are showing more volatility.

Corte Madera CA Real Estate Quarterly House Price Data

This picture is worth a thousand words..:

Corte Madera CA Real Estate Quarterly House Price Data  2

Corte Madera CA Real Estate Quarterly House Price Data 4

Anatomy of a bubble:

Corte Madera CA Real Estate Quarterly House Price Data 5

In the above and below graphs by quarter it is easy to see the seasonality of real estate in Marin. The spring is clearly our chance to get you the best prices of the year.

Corte Madera CA Real Estate Quarterly House Price Data 6

Corte Madera CA Real Estate Quarterly House Price Data 7

The below graphs show you similar data as the above  5 graphs only by year instead of by quarter. By comparing similar graphs using different time periods we start to understand buyer behavior given the economic conditions and it helps us in our marketing and our negotiations. Please call Dave for more explanation 415-867-6611:

Corte Madera CA Real Estate annual House Price Data

Corte Madera CA Real Estate annual House Price Data 3

Corte Madera CA Real Estate annual House Price Data 2

Corte Madera CA Real Estate Rate of return table

In 2008 and 2009, Dave and the DuPont Group are leading agents in Marin County Real Estate. Since the recession began in earnest in 2008, Dave personally closed over 36 sales and $47m in real estate sales, and his group has closed over $60m. For 2 years running Dave has sold more homes than any other agent at DB Sotheby’s Intl Realty. The data in these pages represents the extra mile we go for clients and is our competitive advantage over other agents in all parts of Marin. Now is not the time to select an agent to represent you because they are a friend or even because they may have represented you in the past. The work habits most realtors has evolved over the past 20 years are not translating well into selling homes in today’s real estate environment where home buyers make decisions because of financial considerations as opposed to emotional ones.

Dave is a Certified Financial Planner (CFP), Certified Financial Manager (CFM), received his MBA from Pepperdine University, a CA real estate broker and worked for approximately 10 years in the San Francisco financial district. This Blog works in conjunction with The DuPont Groups primary web site.

Please call me to discuss this information in more detail 415-867-6611 – Dave

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