East Bay Modern Real Estate Launched for Bay Area Architectural Home Enthusiasts

San Francisco, CA (PRWEB) July 26, 2011

East Bay Modern Real Estate, a full service residential real estate brokerage firm specializing in modern and architectural properties, announced their entry into the East Bay residential real estate market and the launch of their new website www.EastBayModern.com .

Established and launched by Renee Adelmann, one of the Bay Area's premier architectural realtors, East Bay Modern represents a logical expansion for the company, which has established roots and a proven track record in surrounding Bay Area communities including Marin County (Marin Modern Real Estate) as well as San Francisco (San Francisco Modern Real Estate). With the launch of East Bay Modern Real Estate, the firm will strengthen its ability to service clients in both Alameda and Contra Costa County.

"For years we've had clients ask us if our company would ever expand into San Francisco's East Bay to better serve the needs of today's modern day home buyers and sellers," commented Renee Adelmann. "We've long recognized the market opportunity in the East Bay given its rich architectural history and the abundance of modernist properties; however, it was critically important for us to launch the East Bay Modern brand in a way that was both reflective of our organization's commitment to quality and also value-added to consumers. With this in mind we've spent well over a year on the development of the East Bay Modern brand to insure that we would exceed clients' expectations.     I'm extremely proud of our team's work and we look forward to assisting clients with the sale or purchase of a home, loft or condominium in the East Bay."

To coincide with the launch of East Bay Modern Real Estate, the company unveiled its new website which includes hundreds of pages of unique website content including in-depth information on East Bay towns, modern and mid-century modern residential architecture, East Bay lofts for sale , an online guide to Eichler homes in the East Bay , listing alerts for enthusiasts of modern real estate and robust home search capabilities.    East Bay property search capabilities include the ability to search across a variety of criteria including towns, neighborhoods, price ranges, property types, street addresses, MLS #, keywords, school districts, map location, and more.

Renee Adelmann added, "Our East Bay Modern website is designed to help educate the public on unique modernist architecture in the East Bay while at the same time providing home buyers with a one-stop resource for exploring residential real estate in both Alameda and Contra Costa Counties, California.     Whether consumers are looking for a modern or traditional home, a luxury estate or an affordable REO, we've got them covered. The site complements our strong online presence in both Marin County and San Francisco and further strengthens our ability to service the needs of our modern-day home buyers and sellers in the East Bay.

Marin County Real Estate Market Update: Where are we at mid-year ...

Tracking the number of sales of single family homes for the first six months over the past three years shows a steep increase from 2009 to 2010 and almost identical numbers compared to last year for 2011: 931 single family homes sold in the first half of the year compared to 923 at the same time last year.

These figures herald particularly good news since sales were artificially inflated during the first half of 2010 due to Federal Tax Credits for homebuyers.  This statistic is very encouraging and points towards increased stability in our market, which should in time lead to recovery. 

High Demand and Low Supply:

Demand continues to be high with eager buyers out in force at open houses.  June sales were up 25.3 % from May.  Year-over-year they were up 0.5%, pointing to stability.  This unusual surge in sales is surprising as the Marin County real estate market usually peaks in the spring and then takes a siesta during the summer months.  Is it because of the wet spring and unpredictable weather we’ve had during spring and early summer?

Not only are buyers writing more offers, but the most desirable properties are receiving more and more multiple offers, often significantly over asking.  

Price-wise things are looking up compared to May.  The median price for single family rose 3.7% in June compared to May, and was very slightly down (0.09%) year-over-year. The average price was up 2.6%, year-over-year.

Supply is the lowest it’s been in the last 24 months and 30% lower than it was in June 2010, with months’ supply of inventory at 3.7 months for Single Family Homes.  This should put upward pressure on Marin County home prices.

What’s selling by price point?

Each market segment behaves very differently however, with the below $1 million price segment continuing to represent the lion share of the market due to the high percentage of distressed property sales in that price range: out of 73 distressed property sales, there were only 7 over $1 million.  Distressed property sales represented 26% of all sales in Marin County in June, 20% of single family residence sales and 47.5% of condominium sales.  For more information, read my Marin County June 2011 Foreclosure Report.

What’s selling in your neck of the woods?

The City-by-City report shows 4 of the 13 cities covered with increased percentages in contract since May.  Fairfax leads the pack with a slight surge to 46.67% from 45.95%.  Larkspur, Belvedere and Tiburon are also up.  Greenbrae, Novato, San Rafael and San Anselmo, despite percentages in contract slightly down, are still doing well and in the “Seller’s Market” territory.

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