Bob Weir to Help Casa de Milagros

November 20, 2008

Casa de Milagros (a home for orphaned children in Peru’s Sacred Valley) will be the beneficiary of a night of musical and spoken word performances featuring Bob Weir, Ray Manzarek (from The Doors), esteemed poet Michael McClure, Rob Wasserman, Maria Muldar, and Jay Lane will be on hand.

The benefit is to take place Sunday evening, November 30th, at 7 p.m. at 142 Throckmorton.

Tickets are $50. Call 383-9600, visit the box office at 142 Throckmorton Theatre, or click on 142throckmortontheatre.com for tickets and/or additional information.

Mill Valley Real Estate Market Report (November 2008 Home Sales Update)

November 13, 2008

Like many of us, Mill Valley buyers are doing all they can to busy themselves in an effort to avoid being confronted with the dismal stock market results over the past few weeks. On the bright side, from a real estate perspective, the massive retrenchment taking place on the The Street is resulting in many folks liquidating those assets and looking to place them into an attractive alternative. And as luck would have it, Marin real estate provides a good outlet for these investment dollars. Yet, the market in Mill Valley does not yet reflect the expected uptick in sales numbers at the low end. I would expect that at least 50% of homes under $800,000 in Mill Valley would be in escrow, but that is not the case.
Overall, Mill Valley’s real estate market is cruising through the Autumn with little momentum. The market remains one favoring flexible buyers intent on making sacrifices in order to obtain value. Customarily for this time of year, sellers who don’t need to sell will now wait for the promise of the new year. Yet, I expect this Winter we will see many of the so-called “undercover buyers” (e.g., financially stable people waiting for the “right time” to buy) writing strong offers in an effort to take advantage of the confluence of two factors: (1) the apparent nadir of the market in general; and (2) the Wintertime’s seasonal leverage which favors buyers. I am talking with lots people who fit this profile. Although prices have not receded in Mill Valley quite like those of Novato (click HERE for Novato101.com’s market analysis for November 2008), these “undercover buyers” are eagerly investigating their options.   
Continuing a trend first noted in my September 2008, we are actually seeing a reduction in the percentage of entry level homes in escrow across the board. Interestingly, even the entry level is down to just 15% of homes in escrow (down from 53% in July 2008 and 20% in September 2008). Overall, the number of homes for sale in Mill Valley is down to 101. The vast majority of homes are priced between $1 million to $2 million and just 9 of those homes are currently in escrow. Meanwhile, the luxury market in Mill Valley (homes from $2 million and up) has clearly entered into an early hibernation this year as buyers are stepping back from major purchases during these unsettled economic times. Zero luxury homes are in escrow at the time of this writing–a great environment for portfolio buyers.
 
Mill Valley homes that sold during the past month averaged 98 days on the market and sold for an average price of about $1.443 million and including about 2,185 sq. ft. (about $652 per sq. ft).      

 

Price Range

Total Active Homes

Pending Listings

Up to $800K

11 (down 1)

15%

$800K – $1 mil.

15 (up 3)

12%

$1 mil. – 1.5 mil.

34 (down 8)

11%

$1.5 mil. – $2 mil.

16 (down 12)

20%

$2 mil. – $4 mil.

22 (up 4)

0%

$4 mil. & Up

4 (up 2) 

0% 

 

Homes in Boyle Park, Middle Ridge, Almonte, and Cascade Canyon continue to be in low supply and high demand. If you would like more information, just give me a call at (415) 350-9440 or e-mail me at Kyle@MillValley101.com. It is always my pleasure to be of service.

Mill Valley Embraces Green Building

November 7, 2008

On the commercial side, any project over 2,500 sq. ft. or any remodeling which exceeds $500,000 must attain a “Leadership in Energy and Environmental Design” silver rating.

For residential homes, new construction under 3,500 sq. ft. must attain 50 points under the “Build It Green” rating system (verified by a GreenPoint inspector). And new homes bigger than 3,500 sq. ft. must attain 60 points. Also, remodels that increase floor area by 50% will have to meet the 50-point requirement. 

It is expected that the additional cost for new homes will be abut $1,150 to $3,000. Green building considerations include the use of sustainably harvested lumber, waste recycling, low water usage, energy-efficient building practices, and other design features intended to reduce the environmental impact of construction and housing.