13 Apr Novato CA Real Estate Q1 2011 Update
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 â€œcompâ€ 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 â€œfair valueâ€ 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 fairâ€”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 andÂ 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 structureâ€”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 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
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