As your local Realtors®, we are bringing you this recap of 2011 real estate activity in Bel Marin Keys to keep you informed and educated. You will see, listed on the reverse side, all the homes that sold in 2011. Based on Multiple Listings, the number of sales increased 25% in 2011 over 2010 ( 25 from 20). However, the average sale price in 2011 decreased 20% over 2010.
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Fifteen of the sales in 2011 (including the one sale of 1/2/12) were distressed properties, meaning they were either a short sale or bank owned, as opposed to only 6 in 2010. This one factor helps to partially explain the decrease in average sale price in 2011.
As we write this to you, there are 3 properties on the market for sale and 3 properties in the process of selling. These properties are listed below.
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None of us have a crystal ball to tell us the future, but there are some promising signs that things may be improving. Interest rates are going to be the lowest we will see for a very long time, over the next few months. All of our sales colleagues agree, we have a string of Buyers ready to go but at this point the inventory is very low. Even though there are some real problems out there, there is a glimmer of positive light looking down this year’s tunnel. It doesn’t mean the market is going to rebound to where it was 5 or 6 years ago, but it does mean, if anyone is going to sell – don’t wait until further into spring! Go for it now when competition is low and Buyer’s focus is strongest. We would be happy to help you maximize your return on the sale of your property.
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