Please scoll down to see Q2 2011 Data. Also please consider that I compile all this data personally. Your choice to work with us will save you money as the incredible time commitment required to assemble and publish this data each quarter results in much stronger and more dynamic negotiations which ultimately benefit you whether you’re a buyer or a seller:

Big Picture:
A distinct surge in positive home buying sentiment appeared in the first few months of 2011 triggered primarily by people wanting the recession to be done with and reacting to each positive media announcement as proof that the “Great Recession” was FINALLY OVER!  Unfortunately, the earthquake and tsunami in Japan, and the revolutions in the Middle East combined with dismal US economic data domestically reversed this media consumer trend and scared the home buying turtles back in their shells.

The current statistics clearly indicated a double dip in prices in Marin County—the severity of which is town dependent: Tiburon is having its worst year on record while Ross, and Kentfield are having quite positive years. This broad based double dip in prices is more reflective of sellers finally accepting the new pricing structure that a general decline in the pricing structure itself.

This double dip in prices combined with rising (energy) prices hint to a potential rough economy for a year or two ahead. I anticipate 5 more years of  challenging real estate market conditions broken up by brief periods of buying activity.

Seller Tips:

• Sellers need to be priced properly, on the MLS, and on lockbox available for buyers to see at a moment’s notice to capture these fleeting spikes of buyer activity.
• The market has never been more price dependent and buyers never more informed and  price conscious. Homes must be priced within a “window of perceived value” in order to garner offers—otherwise the property won’t get many showings and is quite unlikely to sell.
• The typical seasonal trends of strong Springs and slow Summers & New Years have changed and now any time of the year is an equally challenging time list your home for sale. We never know when these spikes of buyer activity will occur and during the Great Recession they have occured sporadically year yound.

Buyer Tips:

• Success for home buyers is dependent on a quick trigger finger. Homes sit until prices fall into the window of perceived vale and then they sell very quickly. Don’t lose the deal because of a rounding error in highly charge negotiations.
• Buyers need to price homes by lot value and structure cost in addition to “the comps”. I have recently seen some homes trade for too much and others not enough because of valuation uncertainty.

Novato CA Real Estate & Novato CA Homes

The DuPont Group is a dynamic real estate team active in Southern and Central Marin communities. Dave received his MBA from Pepperdine University and is a Certified Financial Planner (CFP). Please call or email us anytime for more information

Employment leads real estate which is why it is so important to measure regional economic data together with statistical trends to find opportunities or anomalies in our markets. The more recent the “comp” the less it tells us about these trends in real worth, and the more it tells us about buyer psyche and current market value. From this perspective at the top of the market homes were trading no closer to their inherent value than they were at the bottom of the recession. We use a full business cycle of data to determine “fair value” and trailing 12 month data to show where homes are trading in relation to fair value.

For most towns of Marin County including Novato, the outlook for real estate is fair—which is very good relative to most other places in the nation. The market for Commercial office space is picking up in San Francisco and this foreshadows new jobs and greater demand in 6-12 months. The current double dip we are seeing in prices in Marin is more reflective of the cost of construction, the dated nature of many homes and sellers of those dated homes becoming acclimated to the new pricing structure—i.e. dated homes are selling closer to lot value given the costs inherent in bringing them up to current trends in buyers tastes and wants.

As you scan the data below please consider that we compile all this data personally. We don’t buy it and paste it here. Your choice to work with us will save you money as the incredible time commitment required to assemble and publish this data each quarter results in much stronger and more dynamic negotiations which ultimately benefit you whether you’re a buyer or a seller.

The DuPont Group is a dynamic real estate team active in Southern and Central Marin communities. Dave received his MBA from Pepperdine University and is a Certified Financial Planner (CFP). Please call or email us anytime for more information