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QU IC K L INKS

Top Sales & Closed Sales For the Week

FROM ED’S DESK Dear Marin Colleagues,

Selma Hepp’s Blog

Marin Stats

Weekly Broker Tip

Pacific Union Tools

Concierge

Resources

Last week was a very difficult week for our Pacific Union Team when we learned of the tragic deaths of three of our colleagues in our Danville office. Events like these are always hard to grasp and having to experience the feeling of helplessness, knowing there is nothing we can do to change the outcome. It is also events like this that make us all pause and take stock of life and our love ones. We offer our support and love to our colleagues and their families and reinforce our belief that together we will get through this in time. On behalf of our Marin Team I have expressed our deepest sympathy to our family across the bay. God bless them all. The smoke hanging over Marin this last week is another reminder of the fragile balance of life and how things can change in an instant. The support we all share with each other is the most important and appreciated gift we can give. Cherish it! The Marin market continues to pick up and we are seeing increase in activity in all areas of Marin. Below are a few comments from our Chief Economist Selma Hepp who recently attended a Housing Market Conference. Thank you, Selma, for the great insight. •

33 of the 50 largest U.S. markets have seen annual rates of appreciation slow over the past three months. Seattle, recently the fastest-appreciating market, slowed by 2.3% (from 14.8% to 12.5%) over that time frame. Riverside (-2.1%), San Diego (-1.8%), Los Angeles (-1.8%), Sacramento (-1.4%) and San Francisco (-0.6%) are all California metros slowing more rapidly than the national average of -0.4%

However, California metros are still expected to see substantial price growth over the next year

According to Zillow forecast, home value growth through Q1 2019.

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Pacific Union Affiliates

San Francisco forecast up 5.5%

Los Angeles forecast 4.0%

And check out what you hard working people have accomplished. Congrats to all. Summary of Q2: •

PUI market share increased from 20 to 22% for volume, and from 14.2% to 15.9% for units

PUI outperformed the market with volume up 22.5% vs market up 11.5%; and units up 16.1% vs market up 3.6%

PUI volume and units growth outperformed the market in most all local areas, particularly in West Marin and San Rafael; but fared worse than the market in in Fairfax/San Anselmo area

Stay Strong my friends!

License # 01866771

Need Marketing Assistance Click here!


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M A R KET SHA R E Mill Valley

Novato

Belvedere

San Anselmo

Corte Madera

Greenbrae

Fairfax

San Rafael

Larkspur

Ross

Kentfield

Sausalito

Tiburon Marin County Market Share

CO N C I ER G E MARIN CONCIERGE TEAM

Lisa Srisavat Jerri Cohen Megan Penna Joan Simone Chelsea Dederick Amy Bowes Ashley Jennings CLICK HERE TO SUBMIT YOUR REQUEST


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TOP SA L E O F THE WEEK

Bill Smith Listing Agent $3,050,000 355 Margarita Drive, Belvedere

M A R I N STATS For Sale vs. Sold

Weekly Market Update

Avg. Price Per Sq. Foot

Months of Inventory

Days On Market: Sold

Average Price For Sale vs Sold

Market Share By City

1974- 2017 Ave Sale Price

Open House Graph

Source: Trend Graphic/Charts Bareis MLS (updated on the 6th of every month)


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Losses of Lower-Paying Jobs Drags Down California’s Employment Growth in June • The Golden State created 800 jobs (seasonally adjusted) in June, which is the lowest number since the recovery began in 2010 and follows an upward revision to 7,200 jobs added in May, according to the latest numbers from the state Employment Development Department. Nevertheless, notable losses in seven California industries dragged down the overall number of jobs added. Interestingly, industries with job losses generally employ lower-paid employees. The four industries that gained jobs added 16,200 positions, with half of them in education and health services, followed by information, government, and professional and business services. Among the seven industries that reported 15,400 job losses, the largest decreases were in leisure and hospitality; construction; trade, transportation, and utilities; and financial activities. Note that these industries have had some of the strongest job growth so far in 2018. In sum, while the overall number of jobs added appears low, the employment picture is very solid and suggests continued strong wage growth for California workers. • Over the year, California created 269,100 jobs, with nine industries adding a total of 272,800 positions and two industries losing a total of 3,400 jobs. The largest job gains were in educational and health services, up by 75,800 jobs; professional and business services, up by 42,200 jobs; and leisure and hospitality, up by 41,700 jobs. Other sectors that added jobs over the year were construction; trade, transportation, and utilities; government; information; manufacturing; and financial activities. Other services and mining and logging posted job declines. • California’s unemployment rate remained at a record-low 4.2 percent in June. Many metropolitan areas showed increases in unemployment rates.

Read more Here We encourage you to share Pacific Union’s daily blog posts via email, your own blog, or social media. All blog content is updated daily in VoiceStorm, which allows you to share posts to the most popular social networks with just a few clicks. Additionally, our team sends out a weekly Content Hit email each Monday, which contains everything you need to promote Pacific Union content on Facebook, Twitter, or your own blog. Check it out at blog.pacificunion.com


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W E E K LY B R O K ER TI P The Demand to Close Escrow Q: I am the Buyer’s Agent and another Broker represents the Seller. The Parties agreed that escrow would close 30 days after Acceptance; the Buyer has removed all contingencies and needs to have escrow close as scheduled which is about 5 days away. The Seller had no contingencies but his agent has now said that the Seller cannot close as agreed because he has not been able to find a replacement home he can afford. The Buyer is frantic; her e-mail states she expects me to “force the Seller to close as agreed.” Should we send a Demand to Close Escrow now? If we send a Demand to Close Escrow and the Seller does not close, must the Buyer cancel? Can the Seller just cancel after receiving the Buyer’s Demand to Close Escrow? A: Assuming that the Parties used the C.A.R. Residential Purchase Agreement (“RPA” form), the Buyer can send the Seller a Demand to Close Escrow (“DCE” form) but the RPA states in Paragraph 14G that the DCE “may not be Delivered any earlier than 3 Days before the scheduled close of escrow.” Therefore, based upon the facts in the question above, the Buyer needs to wait at least 2 days until the scheduled Close of Escrow is 3 calendar days away. NOTE: If the Parties used a different Purchase Agreement form (e.g., PRDS or S.F.A.R.), then no Demand to Close Escrow form can be sent since neither of those forms allow for use of that form. However, the SFAR Purchase Agreement does allow for a 2-day Notice to Perform to be given regarding the close of escrow. The PRDS Purchase Agreement has no requirement for a Demand or Notice related to the close of escrow.

Click here to read more ... DO NOT FORWARD TO CLIENTS. This Weekly Practice Tip is for the exclusive use of clients of Broker Risk Management and their agents. It may not be reproduced or distributed without the express written consent of Broker Risk Management. The advice and recommendations contained herein are not necessarily indicative of standards of care in the industry, but rather are intended to suggest good risk management practices. PRACTICE TIPS All Weekly Practice Tips are available at BrokerRiskManagement.com User ID: clientaccess, password: yard


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P RO D U CT TR AI NI NG S Topic: Moxi Listing Presentation When: 8/13/18 Time: 10:00-11:30am Trainer: Ashley Jennings Where: Larkspur Office 490 Magnolia Ave Larkspur, CA 94939

Let us know if you can make it! What is Moxi: Create a listing presentation that will help you stand out from your competitors. This program displays your content in a digital interactive way that keeps your clients engaged!

See you there! If you have any questions about the trainings please send an email to: ashley.jennings@pacunion.com


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2018 Advertising Online & Print Distribution, deadlines, and rates

*Some details will be updated as information becomes available. Advertising rates are subject to change. If you are interested in a specific publication that is not on this list, please contact your Marketing Coordinator directly. Co-op advertising rates are at your manager’s discretion.


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PREMIER SERVICE

@pacificunion


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Resources - Forms, Vendors, Services • Inspection Checklist and Forms • Pacific Union Marin Vendor Guide • FEMA: Marin Flood Zone Update

• Sewer City and Fire Inspections

Pacific Union Leaders Brent Thomson & Pat Heller to Speak at Industry Conference Pacific Union Chief Operating Officer Brent Thomson and Vice President and Branch Manager Pat Heller will be among the featured speakers at the second California Association of Realtors’ WomanUP! Conference on June 28-29 at the JW Marriott LA Live in Los Angeles. The two-day conference is part of CAR’s women’s outreach program to bring together a community of mentors and leaders to communicate, collaborate, and support one another in the real estate industry. For its program, CAR earned a nomination for an Inman Innovator Award from Inman News, which saluted the organization’s commitment to helping elevate women in the industry. Thomson oversees all aspects of Pacific Union operations, including the recruitment and performance of top real estate professionals. She also leads the executives of the firm’s Northern California region. “Women make up the majority of the real estate industry, yet they’re underrepresented in brokerage leadership,” she says. “This conference seeks not only to heighten awareness of these opportunities, but to inspire women to move toward them.” Thomson continues, “Building self-confidence and learning to trust myself has been a by-product of many successes, as well as failures. Learning to appreciate that a failed attempt was far better than no attempt gave me more freedom to express myself, think big, and respect the same in others.” Heller, who heads four Pacific Union Westside Los Angeles locations (Brentwood East, Marina Del Rey, Pacific Palisades, and Santa Monica), has led every office she’s managed over the last two decades to top five national revenue-production status. She sees the conference as an invaluable opportunity for women to gather both input from experienced brokerage owners and support from the real estate community as they pursue their leadership careers. “This is an empowering event for women across our field,” she says. CAR data shows that 60 percent of real estate professionals in California are women but only about one-third of leadership positions in brokerage firms with more than 100 professionals are led by women — a statistic that has been virtually unchanged in recent years. CAR held its inaugural WomanUP! Conference in Pasadena last year. More than 300 women and men attended the full day of professional development devoted to giving powerful women bold tools to take their careers to the next level.


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Affiliate Resources The Mark Company The Mark Company is the authority on urban residential real estate sales and marketing. Using The Mark Method, our unique approach aligns developer goals with buyer insights to deliver unbeatable results. Visit: themarkcompany.com

Property Management Pacific Union Property Management offers full-service property management to property owners, landlords and investors throughout the SF Bay Area, helping your clients to maximize luxury real estate investments. Visit: pacunionpm.com

Commercial Backed by Pacific Union’s strong name recognition and marketing foundation, our Commercial Brokerage specializes in buying, selling, and leasing commercial properties- apartments, office, retail, and industrial- for a mix of clients. Visit: pacificunion.com/commercial-real-estate

Rentals Gain access to the Bay Area’s most exceptional rental properties with the helpof our rental experts. Visit: pacificunion.com/leasing-rentals

Relocation Whether you are moving to or departing from the Bay Area ... whether your move is job-related or personal ... whatever your move, we’ve got you covered. Visit: pacificunion.com/relocation

ProInsurance In addition to homeowner’s coverage, ProInsurance provides competitive pricing on a full range of personal insurance needs. Visit: pacificunion.com/pro-insurance INTERNATIONAL PROINSURANCE SOLUTIONS, LLC.

To obtain more information and quote, contact Adrianne Peixotto at 415-223-5543 or email adriannep@proinsurance.com

The Benefit of Knowledge

Weekly Update 8.10  
Weekly Update 8.10