Why I’m Certain That Market Values Will Increase in Marin & Sonoma County in 2013

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This week North Bay Luxury Real Estate focuses on increasing market values in Marin & Sonoma counties.  The market for luxury homes in the North Bay is definitely on the upswing.

Why I’m Certain Real Estate Values Will Increase in 2013

Watch the video above, or read the text version below:

Hi, this is Tracy Otsuka with Sotheby’s International Realty. I want to talk to you today about why I am certain that home values in Marin and Sonoma counties will increase in 2013. And I’ve never gone out on a limb like this before, but I’m going to say that absolutely we will see an increase for a number of reasons.

Number one: The home median sold price is up by double digits, three
months in a row at this point. Sonoma County had a 23.8% increase at the
end of 2012. For Marin county, it was a 14.5% increase.

Number two: Inventory has decreased 56% in Sonoma County from this time last year and 62% in Marin County for that same period.

Number three: The average days on the market, is down 42.7% in Sonoma County and 31.9% in Marin County. That’s less than 90 days to sell a home in Marin County and 60 days to sell a home in Sonoma County.

Number four: Inventory. The number of listings coming on the market is down 39% in Marin County and 49% in Sonoma County. There are only 13 new luxury properties listed since the New Year in Sonoma County and only 10 in
Sonoma county.

Number five: Almost all listings are getting multiple offers.

Number six: We have historically low interest rates that continuing to
be low.

Number seven: We have improved unemployment. The unemployment rate for Marin is down to 5.8% and 7.7% in Sonoma County. That as of November of 2012.

Number eight, and finally, foreclosure inventories are way down. The notice of defaults are down 64% and notice of trustees sales are down 48%.

So it’s a good time to buy and a really good time to sell.  I’d love to hear what you think. You can also catch me
on all of the social sites: Twitter, LinkedIn, Google+, Facebook.  Have a great day, and we’ll chat soon. Bye-bye.

Join us every week for more video updates from Tracy, the North Bay Luxury Real Estate, premier broker.  Please contact her at 415-668-2020 or 415-668-2020 if you would like more information, or wish to sell or purchase a luxury home in the North Bay.

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