Eichler Market Update - Marin & San Francisco
We've just passed the mid-point for 2009 so I wanted to provide a quick update on the market for Eichler Homes in Marin County & San Francisco, CA.
A total of 19 Eichler homes have sold in San Rafael from January 1 - June 30, 2009. In the second quarter of this year ("Q2"), 10 Eichler homes were sold and I'm proud to say that I was responsible for 50% of all Eichler Home Sales in San Rafael during the second quarter of 2009 (representing either sellers or buyers).
Taking a closer look at Q2 home sales, the market for homes priced under $750,000 was quite hot in both Marin & San Francisco. The demand for homes was fueled by competitive interest rates which fell as low as 4.35% for jumbo loans. Additionally, FHA loans were readily accessible which allowed buyers to purchase a home with a small down payment (as little as 3.5% down).
Towards the end of Q2, the market shifted as rates shot up to near 5.85%, bringing with it a tangible slowdown to the number of homes going into escrow. It's of interest to note that home prices have not come up since the beginning of 2009 but they are stabilizing and multiple offers are becoming much more commonplace with appropriately priced homes (my last 3 Eichler listings received multiple offers within 1 week of hitting the market).
Eichler Listings: Marin & San Francisco
Currently there are 17 Eichler listings in Marin County which range in price from $549k - $1.895M. There are also 5 Eichler listings right now in San Francisco (all condos) which are priced from $575k - $1.998M. In addition to these current listings, I'm aware of several Marin Eichler homes, two Walnut Creek Eichler homes and one single-family Eichler home in San Francisco which aren't on the MLS and should be hitting the market within the next few months. If you'd like to learn more about current or upcoming Eichler listings and have me represent you as your buyers agent, feel free to send me an email or call me directly at 415-EICHLER (415-342-4537).
Finally, I wanted to invite you to attend my Eichler open house scheduled for this weekend from 1-4pm (property address: 128 Golden Hinde Blvd, San Rafael, CA 94903). This home is move-in ready and was recently reduced to just $675,000! Feel free to stop by if you'd like to preview this home or simply meet to discuss your Bay Area real estate needs.
Renee Adelmann, Owner & Realtor
Marin Modern Real Estate / San Francisco Modern Real Estate