03 Jul Belvedere CA Real Estate Data Q2 2011
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 youâ€™re a buyer or a seller:
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 â€œGreat Recessionâ€ was FINALLY OVER!Â 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 Countyâ€”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 ofÂ challenging real estate market conditions broken up by brief periods of buying activity.
- Sellers need to be priced properly, on the MLS, and on lockbox available for buyers to see at a momentâ€™s notice to capture these fleeting spikes of buyer activity.
- The market has never been more price dependent and buyers never more informed and Â price conscious. Homes must be priced within a â€œwindow of perceived valueâ€ in order to garner offersâ€”otherwise the property wonâ€™t get many showings and is quite unlikely to sell.
- The typical seasonal trends of strong Springs and slow SummersÂ & 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.
- 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. Donâ€™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 â€œthe compsâ€. I have recently seen some homes trade for too much and others not enough because of valuation uncertainty.
Belvedere CA Real Estate & Belvedere CA Homes
Statistically, Belvedere is having another terrible year. The pricing structure for the town was reset lower by the financial crisis & recession and sellers have yet to adjust. Buyer preferences currently favor flat yards, a pool, and warmer summer days, leading them north to preferential neighborhoods in Ross, Kentfield and Larkspur.
Homes need to be properly priced and positioned to capture fleeting moments of buying activity. This can take a few hours or 3 months. The idea of pricing a home high in the hopes of “finding the right buyer” no longer pertains to the current market. Very few homes have sold in the high end, due mostly to pricing.
In an average year during the last business cycle 31 homes change hands at about $3 million. The trailing 12 months show 33 homes have sold at a price 6% below the business cycle mean and 10% below by $/SQFT; average days on market is 185!
As you scan the data below please consider that we compile all this data personally. We donâ€™t buy it andÂ 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 youâ€™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