Millennials (ages 18-29) make up the future’s home-buyer population. As the economy continues to strengthen, it’s important to know where future buying demand is headed. How do these youngsters prioritize real estate investment?

A recently released report by the Demand Institute (“Millenials and Their Homes: Still Seeking the American Dream”) unveiled many myths about these generations and their perception on owning property. Not so glum after all:

-       48% of Millennials plan to switch from renting to owning in the next 4 years

-       75% view home ownership as an important long-term goal

-       73% believe that home ownership is an excellent investment

-       60% plan to purchase in the next 5 years

Here are some other surprising facts…

Should I become a homeowner or should I continue to pay rent? This question continues to be prevalent in today’s market, especially for young people and first time home buyers. Aside from obvious budgetary restraints that prevent one from purchasing a home, the advantages of buying a home now heavily outweigh the disadvantages to waiting and continuing to fill your landlord’s wallet:

-       LOW RATES AND AFFORDABILITY. Mortgage interest rates haven’t been this low in decades. Why would you pay rent when affordability is at an all-time high? Buyers from 2000-2010 would give up a kidney to buy in today’s market instead. 

-       WHERE IS YOUR RENT MONEY GOING? Paying to live somewhere must be treated the same as any other investment. There is no…

Parents are willing to pay more for their kids to attend good schools. In some cases, quality of education is #1 on the list of criteria for buyers looking to invest in real estate. While water views, location, and attractive floorplan are important contributors to market price, a respectable school district might be the most substantial indicator of value and buyer demand. Marin County is no exception to this rule.

Let’s take an example that’s close to home. The Narodny Team just sold a home in San Rafael for $1,800,000. Take the same house, same flat street, same views, same ammenities, and give it a Kentfield address. The house would sell for $2,700,000+. Why? According to the Academic Performance Index, an organization that measures academic…

Are you looking for a way to touch the flavor of the wine country without going all the way to Napa. I know about a hidden treasure. Of course, nothing can replace Napa but if you have kids or restless family members try this one.

 

Take HWY 37 just inside Novato limits, (about 15 minutes from Mill Valley) then HWY 126 towards Sonoma and Napa. You will pass the Racetrack on your left and then Viansa on your right. Go about another 2 miles and you will see Gloria Ferrar on your left. Go there, sit on the deck, sip champagne and have some small bites.  Next stop is right across the main road at Cornerstone, Sonoma.

 

There is a wavy, wacky picket fence and a giant blue plantation chair at the entry. You can’t miss it.  There is a lovely deli, an amazing…

Despite the summer slowdown, the Marin market keeps moving ahead at a hot pace.  

Currently, there are 814 homes on the market of which 43% are in escrow and this is indicative of the ongoing challenge of a low inventory.  Approximately 71% of homes get multiple offers, and we continue to see a seller’s market with an average of 45 days on market. More high-end homes are selling with 26% of homes in the $1-$2 million range, 19% in the $2 -4 million, and 10% over $4 mill. The appreciation in value has put many homeowners in an equity position (market value exceeds debt) which has allowed sellers to sell without  a loss., and a huge reduction in distressed sales.

We are seeing many sales as investor purchases – approx 20% of the market - and more…

Caribbean Development Opportunity. We have 200 acres of prime and pristine acres of land on the Caribbean island of Dominica. This is a unique opportunity for development of a resort, private estate, agriculture and much more. Dominica is the most beautiful island in the Caribbean and this land has incredible views of the surrounding mountains and ocean in the distance. Price is $4,200,000.  We also have a rental available at the other end of the island directly over the ocean with 3-4 bedrooms and absolute privacy. Contact us if you have any questions or want some pictures of this incredible opportunity. peter@marinrealestate.net. 415-847-4899.

Marin Real Estate Market Update by Peter Narodny

Marin has always had the reputation of being one of the finest counties in Northern California. Now that San Francisco has been hit by a excessive demand for housing, buyers are quickly discovering Marin, where the schools, weather and quality of life is superb. The median price for homes has jumped to over 

$1 million, back to where it was in June of 2008, and the per square foot price is now $603 which is above the peak in 2007. With the low inventory, low mortgage rates, and declining foreclosures, the median price of a home has risen 20% over last year. Rents are also up, and in evaluating the choice of renting versus selling, it is important to realize not only the cost and tax consequences of…

With a seamlessly flowing floor plan and easy access to a level lawn area and large deck from the great room and master suite, this 3 bedroom/ 3 bath plus den home is ideal for backyard barbeques and entertaining guests. The main level includes a master suite, an en suite room, and another bedroom with access to a full bath and a separate laundry room. An updated kitchen with lots of storage, newly polished wood floors, high vaulted ceilings and a fresh coat of paint enhance the drama of this home and the setting.

The yard is exquisite with a large level lawn, a curving stairway to an upper level with hot tub and dining areas overlooking the valley. Professionally landscaped and quite private the yard is a haven with lots of sun and lots of spring…

Over the past decade, our world, and particularly the world of house hunters has become increasingly digital. Consumers are going online at a rapid pace to look for information to support their buying decisions. They watch “how-to” videos on Youtube, they read review site, they look up specific brands on search engines, and even research on the go with their smartphones and tablets.

As a realtor emphasizing and utilizing the benefits of social media and online/digital marketing is crucial. In 2005 only 11% of advertising budgets for real estate firms were allocated for online platforms. By 2010 that number had skyrocketed to 64%. The story is no different for home shoppers today.

Real estate professionals know that their customers are uber-connected…

Mill Valley has been a coveted locale for home buyers for the past thirty years. When Mill Valley homes go on market they are almost always the first ones scooped up.  One of our agents found this article while perusing the front pocket of her airplane seat. For those looking to buy, sell or simply living in Mill Valley it is a must read! Find out why these Marin Natives consider the swanky coastal town of Mill Valley so appealing!

  

Click to be redirected to the full article on the Departures website and their follow up article, A Return to 'A Return to Mill Valley'

And as always, check back in with MarinRealEstate.net for all your realty needs! One of our reliable and trustworthy professionals would be happy to answer any questions or concerns…