I'm excited to announce that I’ve got 553 Miller Creek Dr coming on the market in early April. There has been a lot of preparation that has gone into getting the house ready. To name just a few expensive things that have been done: both bathrooms and the kitchen have been remodeled, the electric has been updated, and the sewer and roof have also been replaced. It’s also been painted inside and out and the wood flooring has been refinished. There are 5 bedrooms and 2 bathrooms and we are still working on pricing the home. I’m going to have it staged and we’ll use drone photography which will look very nice. This home is truly turn key in a wonderful neighborhood. Stay tuned!
Two Eichler built homes on Nova Albion in Terra Linda recently went into contract. One was asking $1.099 and in rough shape, but the price was so low it likely attracted multiple offers and was overbid. The other was asking $1.725 and in very good condition. Remodeled Eichlers are commanding a premium on the Terra Linda market. Another Eichler around the corner on Golden Hinde was in original but excellent shape. Entering the house was like stepping into a time capsule from 1959, which the buyers must have valued greatly. The sellers were asking $1.395, received multiple offers, and should be closing any day now well over their asking price. I’ve also got an off-market Eichler in contract asking $1.465 in a nice location with views, but the house is in need of updating which is likely going to be very expensive.
A Kenney built home, 558 Tarragon Dr in Terra Linda recently went into contract. They had open houses on both Saturday and Sunday and after only 4 days on the market they received an acceptable offer. No date for reviewing offers was set, so the buyers jumped on the opportunity rather than stalling until another buyer potentially materialized to create a competitive situation. Tarragon was asking $1.215, and the property was well presented with nice staging, but it was a bit dated. While it also backed up to a busier street, Freitas Parkway, the buyers looked past that. The best time to sell a home that is on or backs up to a busy street is when inventory is lacking, like this early spring.
We are in a seller’s market in the 94903 zip code. Per the BAREIS MLS as of 3/21/24 (information deemed accurate but not verified and is subject to change) there were 20 single family homes on the market and 13 had accepted offers. San Rafael’s 94901 is not quite as strong with 35 active listings and 16 in contract, but it still is stolidly in favor of the sellers. Even with mortgage interest rates now back up closer to 7% than 6.5% demand has been very good in San Rafael. I’m not expecting that to change this spring, and we may even be strong throughout the year if interest rates come down a bit and inventory remains low.