Mill Valley, CA Real Estate News

By Kyle Frazier, Kyle Frazier , CRS & Marin CA Realtor
(Christie's Great Estates | Pacific Union International)
The good new is that it seems the media has turned a corner on its reporting of the U.S. and worldwide economies, as well as the housing market. Positive press coverage has permeated all forms of media and is certain to change the tide, although it will take time. Significantly, San Francisco agents are reporting a significant surge in sales and prices. We know from past experience, that once San Francisco recovers, surrounding communities recover in a geo-concentrically expanding fashion. Yet, the Mill Valley, CA. real estate market continues to limp along, offering hope of recovery, but not fully reaching the plateau (or nadir, as it were). Pardon the inevitable mixed metaphors, but it seems the real estate market is like an elite athlete with an ankle sprain, constantly at risk of f...
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By Kyle Frazier, Kyle Frazier , CRS & Marin CA Realtor
(Christie's Great Estates | Pacific Union International)
Barring special circumstances, there is generally nothing more important to sellers than the net amount of funds they retain when their home is sold. As every real estate professional will attest, pricing correctly for the market at the outset of the listing period is far and away the most important factor in the sales process — as they say, "price conquers all buyer objections." Each year in the real estate industry, numerous books are written, classes are taught, and sermons are delivered on the topic of pricing. Managers implore their agents to advise their clients about the dangers of over-pricing and agents natter on amongst themselves about the importance of this element of the home sales process. Nonetheless, homes come on the market that are overpriced based on recent market da...
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By Kelley Eling, Realtor Extraordinaire
(Fathom Realty Group)
As of October 9, 2009 only 20% of available listings in Mill Valley are in escrow. For the month of September 2009 24 homes sold in Mill Valley for an average final selling price of $1,082,292. The average original asking price of these homes was $1,191,152. The range of final selling prices was from a low of $340,000 to a high of $2,900,000. Of the 24 homes that sold (3 of which were distress sales) 1 sold at the original asking price, 1 sold over, and all others sold for less. It took these homes an average of 67 days to sell. To see everything that is currently for available for sale on our MLS, click here. For more information about this area visit my website or feel free to contact me directly.
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By Kyle Frazier, Kyle Frazier , CRS & Marin CA Realtor
(Christie's Great Estates | Pacific Union International)
The Mill Valley, CA. real estate market fulfilled low expectations in August 2009 with 22 sales — same as in July 2009. It has become apparent over the past several months that asking prices have largely halted their downward spiral. As is evident in the graph below, which tracks the median price per square foot (down from $740 to $612), in Mid-June prices flattened out in Mill Valley and have more or less remained stable. It will be interesting to see whether this flattening out carries over into the sales prices of homes trading this Fall and Winter.   Based on last month’s sales total of 22, we currently have an overall inventory of homes sufficient to last a bit more than 5.5 months (virtually the same as August 2009) — this is called the absorption rate.    [Click HERE for the res...
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By Kelley Eling, Realtor Extraordinaire
(Fathom Realty Group)
As of September 11, 2009 only 22% of available listings in Mill Valley are in escrow. For the month of August 2009 25 homes sold in Mill Valley, for an average final selling price of $898,834. The average original asking price of these homes was $1,003,470. The range of final selling prices was from a low of $385,350 to a high of $1,775,000. Of the 25 homes that sold, 2 of which were distress sales, 3 sold at their original asking price and all others sold for less. It took these homes an average of 115 days to sell. To see everything that is currently available on our MLS click here. To learn more about this area visit my website or contact me directly.
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By Dave DuPont, Where Experience Meets Results
(Decker Bullock Sothebys Realty)
Year 2000 Census: This pegged the population of Mill Valley (CA Real estate) at 13,615 with 6,281 total housing units, 2.2 people per house, and a mean income of $134,116. (Please see chart below.) The next census will be out within a year. Mean income data can tell us a lot about home prices, such as whether the implied average home prices are in line with Fair Value estimates, current average prices, or historical prices. For instance: ▶ Estimated 2009 average household income for Mill Valley is $180,000 ▶ Averare incomes imply Mill Valley can support SFR prices at $1.33m ▶ My fair value estimate for average home prices is $1.365 ▶ 2004-2009 historical prices average $1.38m ▶ Current prices are hovering -15% below at around $1.15m This means several things, i.e., the lack of high-end ...
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By Renee Adelmann
(Marin Modern Real Estate )
I'm happy to announce the sale of my most recent  Mill Valley listing located at 132 Richardson Drive. Located in the desirable Mill Valley Strawberry neighborhood, this 4 bedroom / 2 bathroom home was built in 1949 and featured a variety of updates including an updated kitchen, new flooring, new paint (both interior & exterior), and updated bathrooms. I worked closely with the sellers to prepare the home for sale and was happy to work with them on the listing and sale of their Mill Valley home. The final sale price for 132 Richardson Drive in Mill Valley was $950,000. Please contact me if I can assist you with the purchase or sale of a Mill Valley home! Whether you are looking for a Mill Valley luxury home or a simple starter condo in Mill Valley CA, I'd welcome the opportunity to help...
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By Kyle Frazier, Kyle Frazier , CRS & Marin CA Realtor
(Christie's Great Estates | Pacific Union International)
The Mill Valley, CA. real estate market remains predictably unpredictable — after just 17 sales in May 2009, we had a robust 29 sales in June 2009, followed by 22 sales in July 2009. As I noted in last month’s report, the decline in sales numbers this month was expected as families focus more on vacations and outside activities. And September will bring even fewer home sales, along with a moderate rise in inventory and increased buyer activity. Over the past quarter in much of Marin County, it has become apparent that asking prices have halted their downward spiral. As is evident in the graph below, which tracks the median price per square foot (down from $740 to $615), in Mid-June 2009 prices flattened out in Mill Valley. It will be interesting to see whether this flattening out carri...
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By Kelley Eling, Realtor Extraordinaire
(Fathom Realty Group)
As of August 13, 2009 only 19% of available listings in Mill Valley are in escrow. For the month of July 2009 22 homes sold in Mill Valley for an average final selling price of $963,591. The average original asking price of these homes was 1,094,445. The range of final selling prices was from a low of $400,000 to a high of $1,925,000. Of the 22 homes that sold 1 sold at the original asking price, 2 sold over, and all others sold for less. It took these homes an average of 86 days to sell. To search our MLS and see everything that is currently available for sale, click here. For more information about this area visit my website or feel free to contact me directly.
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By Kyle Frazier, Kyle Frazier , CRS & Marin CA Realtor
(Christie's Great Estates | Pacific Union International)
Boyle Park (Mill Valley, California) Homes and Real Estate. Boyle Park is great neighborhood and the park itself is one of my family's favorites, with a large playground, tennis courts, picnic areas, softball/baseball field, creek, and more. The neighborhood is within easy walking distance to town square and Park Elementary School. Boyle Park is bordered by E. Blithedale and and Country Club. It is sunny and an easy commute location. There are a number of homes bordering the park itself. Prices range generally, from $1 million to $2.5 million, with occassional exceptions on either side. The combination of Mill Valley's idyllic location nestled beneath Mount Tamalpais coupled with its ease of access to nearby San Francisco has made it a popular home for many high-income commuters. Over t...
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By Kyle Frazier, Kyle Frazier , CRS & Marin CA Realtor
(Christie's Great Estates | Pacific Union International)
Sycamore Park (Mill Valley, California) Homes and Real Estate.    Mill Valley's Sycamore Park is widely viewed as one of the best neighborhoods in Mill Valley because of its easy walk to town square, easy commute location, picturesque shady tree-line streets, and overall friendly atmosphere.   Sycamore Park was a community built during WWII. Many owners remain from those early days and have witnessed the many transformations the city and neighborhood have undergone.    In the 1950's, the park at Sycamore Park became Mill Valley's first Little League field, lovingly kept by parents and interested citizens. There are several other parks in and around Sycamore Park, including Freeman Park and Boyle Park. Today's Sycamore Park is once again lovingly cared for by the city and the people. It...
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By Kyle Frazier, Kyle Frazier , CRS & Marin CA Realtor
(Christie's Great Estates | Pacific Union International)
The Mill Valley real estate market remains predictably unpredictable — after logging 17 sales in May 2009, we had a robust 29 sales in June 2009. Typically, sales slow down as Summer begins and families focus more on vacations and outside activities. That slowdown will be reflected in July sales numbers. Nonetheless, there is serious value in Mill Valley right here, right now. This is true for every price band. Note to buyers: write offers! A closed mouth does not get fed. If you would like my Mill Valley Hot List, call or e-mail me: (415) 350-9440 | Kyle@MillValley101.com.     The above chart tracks asking prices and shows that since November 2007 prices have slid from about $740 per square foot to about $615. As I have noted in market updates relating to other towns in Marin, asking ...
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By Kelley Eling, Realtor Extraordinaire
(Fathom Realty Group)
As of July 8, 2009 only 15% of available listings in Mill Valley are in escrow. For the month of June 2009 33 homes sold in Mill Valley for an average final selling price of $1,383,636. The average original asking price of these homes was $1,536,136. The range of final selling prices was from a low of $520,000 to a high of $5,000,000. Of the 33 homes that sold 3 sold at their original asking price, 1 sold over, and all others sold for less. It took these homes an average of 98 days to sell. To see everything that is currently available for sale, click here. To learn more about this area, including all the fun things to do around here,  visit my website or contact me directly.
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By Kyle Frazier, Kyle Frazier , CRS & Marin CA Realtor
(Christie's Great Estates | Pacific Union International)
Readers of my monthly reports on Mill Valley, CA. are well aware of my love for Mill Valley. And what's not to like? For starters: (1) A quick and easy commute to San Francisco, (2) often spectacular views of the Bay, the Golden Gate Bridge (a short 5-10 minutes down HWY 101), and Mt. Tam, (3) excellent schools, (4) pleasant weather, (4) a mellow, laid back ambiance, (5) a town square unlike any other in Marin (you have to go to the town of Sonoma for anything like it), (6) diverse social events (think Mill Valley Film Festival & The Dipsea Race), (7) lots of good restaurants, and (8) excellent shopping choices, including non-gentrified, family-owned boutiques and shops of all kinds. Along with all this, there is serious value right here, right now. This is true for every price band in ...
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By Kelley Eling, Realtor Extraordinaire
(Fathom Realty Group)
As of June 3, 2009 only 18% of available listings in Mill Valley are in escrow. For the month of May 2009 20 homes sold in Mill Valley for an average final selling price of $1,131,200. The average original asking price of these homes was $1,219,890. The range of final selling prices was from a low of $500,000 to a high of $2,650,000. Of the 20 homes that sold 4 sold for over their original asking price and all others sold for less. It took these homes an average of 69 days to sell. To see everything that is currently available for sale through out MLS click here. To learn more about this area visit my website or contact me directly. To see some of the fun things to do around here click here.
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By Kyle Frazier, Kyle Frazier , CRS & Marin CA Realtor
(Christie's Great Estates | Pacific Union International)
The median price per square foot has dipped to about $575 per sq. ft. (which is down from well over $800 in mid-2007). While some buyers believe prices may slip a bit more, as noted above, most appreciate the fact that interest rates are very appealing. Indeed, mortgage math punishes those who don't lock in at or near the lowest rate possible. For example, if prices dip another 5% and interest rates go up just 1%, the monthly payment would increase rather significantly for an $800K home with 20% down (call me for exact numbers relating to a given situation).  Down from April 2009, the percentage of homes in escrow under $800,000 slipped to 21%. I have a fixer listed in Homestead Valley that is a super value play, priced at $768,800 (3 Beds/3 Baths, 14,000 sq. ft. lot backing Molino Park...
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By Kyle Frazier, Kyle Frazier , CRS & Marin CA Realtor
(Christie's Great Estates | Pacific Union International)
We are consistently asked by our clients (sellers), "when will our markets return to normal?" We formed our definition of a normal Marin County market in our Q3 2008 Luxury Newsletter (call us for a copy) only to be followed by the October '08 stock market meltdown. A normal Mill Valley market over the past ten years has been an annual average of 377 single family homes sold (31 per month). For the past six months the total has been 78 (16 per month). The number of units sold is off roughly 50%. Without closings we have limited comparables to make investment decisions. We are all looking for recent closings to benchmark property values. In the stock market we know CitiGroup Inc. will not soon return to its September 2008 value of $25 per share. In turn, we do not expect Mill Valley real...
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By Kyle Frazier, Kyle Frazier , CRS & Marin CA Realtor
(Christie's Great Estates | Pacific Union International)
We ♥ MV There are many reasons we ♥ Mill Valley ("MV") CA and here are a few of them: A quick and easy commute to San Francisco often spectacular views of the Bay and Mt. Tam excellent schools pleasant weather a mellow, laid back ambiance a town square unlike any other in Marin (you have to go to the town of Sonoma for anything like it) the dog park diverse social events (think Mill Valley Film Festival) lots of good restaurants "The Song" Outdoor Art Center (my wife and I got married there) excellent shopping choices, including non-gentrified, family-owned boutiques and shops of all kinds virtually unlimited access to nature Tenessee Valley to Tenessee Beach walk  Country Club Lucretia Little History Room Sunnyside Tony's Shoe Repair (388-5935, 38 Corte Madera Ave.) O'Hanlon Center for...
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By Kyle Frazier, Kyle Frazier , CRS & Marin CA Realtor
(Christie's Great Estates | Pacific Union International)
Readers of my monthly reports on Mill Valley, CA. are well aware of my love for Mill Valley. They are also among the most informed consumers of Marin real estate (why else would they be reading my blog?). As such, despite my bias favoring Mill Valley, these consumers KNOW that Mill Valley presents serious value — right here, right now. This is true for every price band. Here are some numbers to contemplate: (1) just eleven homes sold in Mill Valley last month — a slow market; (2) of the eleven homes that sold, four were priced under $800K; (3) the bread-and-butter price band is experiencing an abysmal 8% to 13% escrow rate; (4) the current absorption rate (AR) for homes in Mill Valley’s sweet spot (homes priced between $1 million and $2 million) is an amazingly high 17.25 months.  Note...
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By Kelley Eling, Realtor Extraordinaire
(Fathom Realty Group)
As of April 6, 2009 only 10% of available listings in Mill Valley are in escrow. For the month of March 2009 only 11 homes sold in Mill Valley for an average final selling price of $1,232,818. The average original asking price of these homes was $1,404,273. The range of final selling prices was from a low of $555,000 to a high of $3,150,000. All of these homes sold for less than their original asking price. It took these homes an average of 107 days to sell. To see everything that is currenlty available for sale through our local MLS, click here. To learn more about this area visit my website or contact me directly. And, now, for a photo of Bayfront Park with Mt. Tam enshrouded in clouds in the background:
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