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A Member Of Real Living

PacUnion.com


Jimmy Marin Real Estate Report

Q2. 2011


Pacific Union International Luxury Real Estate Report

Pacific Union International Luxury Real Estate Report

MARIN COUNTY

MARIN COUNTY

Q2. 2011

A Member Of Real Living

New Escrows Increase by 15% - 20% in Marin County Real Estate News vs. “Noise”

!iimmmmyy WWaannnniinnggeerr 990011 SSiirr FFrraanncciiss DDrraakkee BBllvvdd KKeennttffiieelldd,, CCAA 9944990044 441155..999900..88999900

We recognize the “noise” you are exposed to via national and regional real estate news and quarterly reports. Most of these reports track closings (sales) and are reported anywhere from 30 – 60 days after the completion of the research cycle (either monthly or quarterly). The information is, by design, general in nature and somewhat dated by the time it is published. The S&P/Case-Shiller Report Index™ and the First Republic Prestige Home Index™ both report sales on a month-to-date, quarter-to-date or year-to-date basis. These reports provide retrospective and relative indicators of value and activity; however, they do not provide insight into future trends on a local basis.

jjiimmmmyy@@jjiimmmmyymmaarriinn..ccoomm wwwwww..!iimmmmyyMMaarriinn..ccoomm DDRREE## 0011335522228877

Please understand that we believe real estate is local and furthermore, market activities and trends can be unique within a market (county) by neighborhood and/or by price point. We also believe that properties “under contract” or “new escrows” are the industry’s most meaningful indicator of near term trends. Our review of Marin County real estate “under-contract” or “in-escrow” reveals encouraging movement even though it isn’t peak season. The chart below illustrates current trends (by percentage) for properties currently “under contract” vs. the same time period twelve (12) and twenty-four (24) months ago. So, while your specific neighborhood may be performing differently and pricing may be less than meets our sellers’ expectations, our markets are continuing to accelerate, at least in terms of properties “under contract”.

Pacific Union International Luxury Real Estate Report

Q2. 2011

All Price Ranges

$1 million and Up

$3 Million and Up

Under Contract (v 24 months ago)

15.2%

20.7%

17.8%

Under Contract (v 12 months ago)

46.3%

65.5%

55.8%

Listing Inventory (v 24 months ago)

-7.7%

-30.1%

-11.37%

Listing Inventory (v 12 months ago)

-28.8%

-24.6%

19.4%

3.7

6.0

11.5

Months of Inventory

MARIN COUNTY

Listing inventory continues to exceed demand and increase at a faster pace than new escrows or properties under contract. Months of Inventory (above) illustrates that it would take between 3.7 and 11.5 months of current demand to exhaust the on-market inventory. This suggests that seller’s pricing is critical to be in the deal flow vs. in the active listing inventory. Do not underestimate the power of demand-based pricing. Price your property within local market demand tolerances and you will likely ratify a new escrow. Flirt with the high-end of your pricing range and prepare to simply be part of our inventory statistics.

A Member Of Real Living

Market Dynamics

Supply & Demand - # Homes (FS, UC, Sold) Jun-10 through Jun-11

In this market place, we encourage families to make housing decisions first, on the quality of the environment they are striving to accomplish at home and second, on the opportunity associated with their investment. It is our feeling that a “buy and hold” strategy for at least five (5) years will likely be a lucrative investment.

1800 1600

We do not see the “buyers’ window” closing. In a broader sense, we see more realistic sellers everyday which translates into more demand based, realistic pricing for pre-qualified, motivated buyers!

1400 # of Homes

Single Family Homes and Condos

1200

Please remember to seek out local news, trend analysis and advice for your real estate decisions. If you are a seller, be realistic on your presentation (by staging when recommended) and meet market demands with pricing. If you are a buyer, seize opportunities when they arise, as the truly best priced properties generally receive multiple offers.

1000 800 600 400 200 0 Jun 10

Jul 10

Aug 10

Sep 10

Oct 10

For Sale

Nov 10

Dec 10

Jan 11

Under Contract

Feb 11

Mar 11

Sold

Apr 11

May 11

Jun 11

Jimmy Wanninger !iimmmmyy WWaannnniinnggeerr

441155..999900..88999900 jjiimmmmyy@@jjiimmmmyymmaarriinn..ccoomm wwwwww..!iimmmmyyMMaarriinn..ccoomm 990011 SSiirr FFrraanncciiss DDrraakkee BBllvvdd,, KKeennttffiieelldd,, CCAA 9944990044


Pacific Union International Luxury Real Estate Report

Pacific Union International Luxury Real Estate Report

Q2. 2011

HOME COMPARISON

Q2. 2011

HOME COMPARISON

A Member Of Real Living

A Member Of Real Living

Marin County $1 Million & Under - SFH

Marin County $1-$3 Million - SFH

TIME PERIOD

Apr - Jun '09

Apr - Jun '10

'09 - '10 % Change

Apr - Jun '11

'10 - '11 % Change

TIME PERIOD

Apr - Jun '09

Apr - Jun '10

'09 - '10 % Change

Apr - Jun '11

'10 - '11 % Change

VOLUME

$198,920,570

$252,479,042

27%

$232,983,609

-8%

VOLUME

$202,171,700

$277,911,169

37%

$273,737,338

-2%

HOMES SOLD

305

375

23%

363

-3%

HOMES SOLD

127

177

39%

168

-5%

AVG. DAYS ON MKT

105

77

-27%

99

29%

AVG. DAYS ON MKT

79

81

3%

82

1%

MEDIAN PRICE

$680,000

$670,000

-1%

$631,400

-6%

MEDIAN PRICE

$1,470,000

$1,395,000

-5%

$1,465,000

5%

AVERAGE PRICE

$652,199

$673,277

3%

$641,828

-5%

AVERAGE PRICE

$1,591,903

$1,570,120

-1%

$1,629,389

4%

MAX PRICE SOLD

$1,000,000

$1,000,000

0%

$993,350

-1%

MAX PRICE SOLD

$3,000,000

$3,000,000

0%

$3,000,000

0%

Source: BAREIS, as of June 30, 2011

Source: BAREIS, as of June 30, 2011

Marin County $3 Million & Higher - SFH

Marin County $1 Million & Higher - SFH TIME PERIOD

Apr - Jun '09

Apr - Jun '10

'09 - '10 % Change

Apr - Jun '11

'10 - '11 % Change

TIME PERIOD

Apr - Jun '09

Apr - Jun '10

'09 - '10 % Change

Apr - Jun '11

'10 - '11 % Change

VOLUME

$235,284,700

$371,657,419

58%

$343,235,998

-8%

VOLUME

$36,113,000

$96,746,250

168%

$72,498,660

-25%

HOMES SOLD

136

201

48%

184

-8%

HOMES SOLD

10

25

150%

17

-32%

AVG. DAYS ON MKT

81

83

2%

84

1%

AVG. DAYS ON MKT

118

97

-18%

98

1%

MEDIAN PRICE

$1,487,500

$1,550,000

4%

$1,520,500

-2%

MEDIAN PRICE

$3,240,250

$3,350,000

3%

$3,800,000

13%

AVERAGE PRICE

$1,730,035

$1,849,042

7%

$1,865,413

1%

AVERAGE PRICE

$3,611,300

$3,869,850

7%

$4,264,627

10%

MAX PRICE SOLD

$5,200,000

$7,800,000

50%

$8,750,000

12%

MAX PRICE SOLD

$5,200,000

$7,800,000

50%

$8,750,000

12%

Source: BAREIS, as of June 30, 2011

Source: BAREIS, as of June 30, 2011

Marin County Market Statistics

Marin County Median & Average Home Price Q1 2009 - Q2 2011

Q2 2010 vs Q2 2011 APR - JUN

$1M and under

$1M and higher

VOLUME

-8%

-8%

HOMES SOLD

-3%

-8%

DOM

29%

1%

MEDIAN PRICE

-6%

-2%

AVERAGE PRICE

-5%

1%

Source: BAREIS, as of June 30, 2011

Q109

Q209

Q309

Q409

Q110

AVG. PRICE

$948,355

$984,557

$1,015,120

$996,236

$984,178

MEDIAN PRICE

$720,910

$775,000

$800,000

$753,000

$751,000

Source: BAREIS, June 30, 2011

WWee llooookk ffoorrwwaarrdd ttoo sseerrvviinngg yyoouu iinn 22001111..

Q210

Q310

Q410

$1,083,861 $1,022,077 $1,022,299 $816,500

$790,000

$763,500

Q1111

Q211

$937,817

$1,053,418

$705,000

$779,000


Pacific Union International Luxury Real Estate Report

Pacific Union International Luxury Real Estate Report

SONOMA

SONOMA

Q2. 2011

A Member Of Real Living

New Escrows in Sonoma Valley Reveal Encouraging Movement Real Estate News vs. “Noise”

!iimmmmyy WWaannnniinnggeerr 990011 SSiirr FFrraanncciiss DDrraakkee BBllvvdd KKeennttffiieelldd,, CCAA 9944990044 441155..999900..88999900

We recognize the “noise” you are exposed to via national and regional real estate news and quarterly reports. Most of these reports track closings (sales) and are reported anywhere from 30 – 60 days after the completion of the research cycle (either monthly or quarterly). The information is, by design, general in nature and somewhat dated by the time it is published. The S&P/Case-Shiller Report Index™ and the First Republic Prestige Home Index™ both report sales on a month-to-date, quarter-to-date or year-to-date basis. These reports provide retrospective and relative indicators of value and activity; however, they do not provide insight into future trends on a local basis.

jjiimmmmyy@@jjiimmmmyymmaarriinn..ccoomm wwwwww..!iimmmmyyMMaarriinn..ccoomm DDRREE## 0011335522228877

Please understand that we believe real estate is local and furthermore, market activities and trends can be unique within a market (county) by neighborhood and/or by price point. We also believe that properties “under contract” or “new escrows” are the industry’s most meaningful indicator of near term trends. Our review of Sonoma Valley real estate “under contract” or “in escrow” reveals encouraging movement. The chart below illustrates current trends (by percentage) for properties currently “under contract” as of the end of June. While your specific neighborhood may be performing differently and pricing may be less than meets sellers’ expectations, our markets are continuing to experience movement, at least in terms of units “under contract”. All Residential Properties (incl. Single Family/Condos/Ranches)

Pacific Union International Luxury Real Estate Report

SONOMA A Member Of Real Living

Q2. 2011

Total Listing Inventory

# of Properties Under Contract

% of Market Under Contract

Sonoma

211

58

27%

Glen Ellen

31

6

19%

Kenwood

19

4

21%

Over 35% under contract is usually indicative of a sellers’ market while under 25% is usually indicative of a buyers’ market and the range between 25-35% under contract indicates a balanced market. This suggests that a seller’s pricing is critical to be seriously considered as an attractive purchase opportunity for a qualified buyer v. simply one of a long list of active inventory of homes for sale. One should not underestimate the power of demand-based pricing. By listing the property within local market demand tolerances, it will likely ratify a new escrow. By flirting with the high-end of the pricing range, one should prepare to simply be part of the inventory statistics. In this market place, we encourage families to make housing decisions first, on the quality of the environment they are striving to accomplish at home and second, on the opportunity associated with their investment. It is our feeling that a “buy and hold” strategy for at least five (5) years will likely be a lucrative investment. We do not see the “buyers’ window” closing. In a broader sense, we see more realistic sellers everyday which translates into more demand-based, realistic pricing for pre-qualified, motivated buyers! Please remember to seek out local news, trend analysis and advice for your real estate decisions. If you are a seller, be proactive in your presentation (by staging when recommended) and meet market demands with pricing. If you are a buyer, seize opportunities when they arise, as the truly best priced properties generally receive multiple offers. As always, I am available to assist you with any of your real estate needs and look forward to hearing from you. Have a great summer.

Jimmy Wanninger !iimmmmyy WWaannnniinnggeerr 441155..999900..88999900 jjiimmmmyy@@jjiimmmmyymmaarriinn..ccoomm wwwwww..!iimmmmyyMMaarriinn..ccoomm 990011 SSiirr FFrraanncciiss DDrraakkee BBllvvdd,, KKeennttffiieelldd,, CCAA 9944990044


Pacific Union International Luxury Real Estate Report

Pacific Union International Luxury Real Estate Report

Q2. 2011

HOME COMPARISON

Q2. 2011

HOME COMPARISON & CITY STATS

A Member Of Real Living

A Member Of Real Living

Sonoma Valley* $1 Million & Under

Napa & Sonoma Counties $1 Million & Higher

Single Family Homes

Single Family Homes

TIME PERIOD

2010

2011

'10 - '11 % CHANGE

VOLUME

$81,652,065

$76,600,215

-6%

HOMES SOLD

176

167

-5%

AVG. DAYS ON MKT

110

109

-1%

MEDIAN PRICE

$429,500

$390,000

-9%

AVERAGE PRICE

$463,932

$458,684

-1%

MAX PRICE SOLD

$920,000

$970,000

5%

TIME PERIOD

2010

2011

10 - '11 % CHANGE

VOLUME

$162,847,500

$206,202,300

27%

HOMES SOLD

97

121

25%

AVG. DAYS ON MKT

176

214

22%

MEDIAN PRICE

$1,390,000

$1,350,000

-3%

AVERAGE PRICE

$1,678,840

$1,704,151

2%

MAX PRICE SOLD

$7,662,250

$4,800,000

-37%

Source: BAREIS, June 30, 2011

*Defined as BAREIS code B1300 Source: BAREIS, June 30, 2011

Sonoma Valley* $1 Million & Higher

Sonoma County Cities Stats Q2 ’10 vs Q2 ‘11

Single Family Homes

Single Family Homes

TIME PERIOD

2010

2011

10 - '11 % CHANGE

VOLUME

$41,234,250

$57,268,842

39%

HOMES SOLD

19

30

58%

AVG. DAYS ON MKT

188

143

-24%

MEDIAN PRICE

$1,725,000

$1,463,000

AVERAGE PRICE

$2,170,224

MAX PRICE SOLD

$7,662,250

*Defined as BAREIS code B1300 Source: BAREIS, June 30, 2011

CITY

# SALES Q2 2010

# SALES Q2 2011

SONOMA

102

93

-9%

$620,199

$634,708

2%

116

100

-14%

GLEN ELLEN

8

14

75%

$663,231

$1,071,857

62%

83

163

96%

KENWOOD

5

4

-20%

$1,242,180

$1,691,750

36.2%

210

126

-40%

PETALUMA

159

151

-5%

$444,782

$392,282

-12%

75

104

39%

-15%

ROHNERT PARK

77

84

9%

$324,406

$285,036

-12%

78

91

17%

$1,908,961

-12%

SANTA ROSA

530

485

-8%

$373,859

$364,045

-3%

96

111

16%

$4,800,000

-37%

HEALDSBURG

39

33

-15%

$627,467

$549,595

-12%

114

124

9%

WINDSOR

95

105

11%

$372,370

$361,778

-3%

84

104

24%

SEBASTOPOL

60

54

-10%

$667,670

$541,279

-19%

78

130

67%

Source: BAREIS, June 30, 2011

WWee llooookk ffoorrwwaarrdd ttoo sseerrvviinngg yyoouu iinn 22001111..

% CHANGE AVG PRICE AVG PRICE % CHANGE AVG DOM # SALES Q2 2010 Q2 2011 AVG PRICE Q2 2010

AVG DOM % CHANGE Q2 2011 AVG DOM


Pacific Union International Real Estate Report

Pacific Union International Real Estate Report

NAPA COUNTY

NAPA COUNTY A Member Of Real Living

Q2. 2011

Real Estate News vs. “Noise”

We recognize the “noise” you are exposed to via national and regional real estate news and quarterly reports. Most of these reports track closings (sales) and are reported anywhere from 30 – 60 days after the completion of the research cycle (either monthly or quarterly). The information is, by design, general in nature and somewhat dated by the time it is published. The S&P/Case-Shiller Report Index™ and the First Republic Prestige Home Index™ both report sales on a month-to-date, quarter-to-date or year-to-date basis. These reports provide retrospective and relative indicators of value and activity; however, they do not provide insight into future trends on a local basis.

!iimmmmyy WWaannnniinnggeerr 990011 SSiirr FFrraanncciiss DDrraakkee BBllvvdd KKeennttffiieelldd,, CCAA 9944990044 441155..999900..88999900 jjiimmmmyy@@jjiimmmmyymmaarriinn..ccoomm wwwwww..!iimmmmyyMMaarriinn..ccoomm DDRREE## 0011335522228877

As you can see in the graph below, sales volume has increased year-over-year in the mid-range market and dramatically so in the high end market. The number of properties sold has increased in all of Napa County markets, but again we are experiencing a vibrancy in the upper end market that we haven’t seen in quite some time. This is a reflection of the buyer’s confidence in that market and the value placed on what is being purchased. In the lower range market, median and average sale prices have fallen year-over-year primarily due to the number of properties being sold as short sale and bank-owned (REO) transactions.

Pacific Union International Real Estate Report

NAPA COUNTY A Member Of Real Living

Q2. 2011

2010 vs. 2011

Under $500K

$500K - $1M

$1M+

Volume

-6%

12%

68%

Units Sold

1%

12%

71%

Days on Market

20%

27%

47%

Median Price

-9%

3%

2%

Average Price

-7%

0%

-2%

We believe real estate is local and furthermore, market activities and trends can be unique within a market (county) by neighborhood and/or by price point, but do not underestimate the power of demand-based pricing. Price your property within local market demand tolerances and you will likely find a buyer willing and able to write an acceptable contract on your home in a short period of time. In this market place, we encourage families to make housing decisions first, on the quality of the environment they are striving to accomplish at home and second, on the opportunity associated with their investment. It is our feeling that a “buy and hold” strategy for at least five (5) years will likely be a lucrative investment. We do not see the “buyers’ window” closing. Interest rates continue to be at historic lows. In a broader sense, we see more realistic sellers every day which translates into more demand based, realistic pricing for pre-qualified, motivated buyers! Please remember to seek out local news, trend analysis and advice for your real estate decisions. If you are a seller, be realistic on your presentation (by staging when recommended) and meet market demands with pricing. If you are a buyer, seize opportunities when they arise, as the truly best priced properties generally receive multiple offers.

Jimmy Wanninger !iimmmmyy WWaannnniinnggeerr

441155..999900..88999900 jjiimmmmyy@@jjiimmmmyymmaarriinn..ccoomm wwwwww..!iimmmmyyMMaarriinn..ccoomm 990011 SSiirr FFrraanncciiss DDrraakkee BBllvvdd,, KKeennttffiieelldd,, CCAA 9944990044


Pacific Union International Real Estate Report

Pacific Union International Real Estate Report

Q2. 2011

HOME COMPARISON

Q2. 2011

HOME COMPARISON & CITY STATS

A Member Of Real Living

A Member Of Real Living

Napa County $500K & Under - Single Family Homes

Napa County $1 Million & Higher - Single Family Homes

TIME PERIOD

Apr - Jun '09

Apr - Jun '10

'09 - '10 % Change

Apr - Jun '11

'10 - '11 % Change

TIME PERIOD

Apr - Jun '09

Apr - Jun '10

'09 - '10 % Change

Apr - Jun '11

'10 - '11 % Change

VOLUME

$70,121,609

$83,717,831

19%

$73,962,630

-12%

VOLUME

$31,394,168

$29,266,250

-7%

$56,655,900

94%

HOMES SOLD

230

262

14%

256

-2%

HOMES SOLD

18

15

-17%

30

100%

AVG. DAYS ON MKT

88

87

-1%

101

16%

AVG. DAYS ON MKT

121

196

62%

300

53%

MEDIAN PRICE

$315,000

$325,000

3%

$285,000

-12%

MEDIAN PRICE

$1,593,334

$1,420,000

-11%

$1,515,000

7%

AVERAGE PRICE

$304,877

$319,534

4.8%

$288,917

-10%

AVERAGE PRICE

$1,744,120

$1,951,083

12%

$1,888,530

-3%

MAX PRICE SOLD

$500,000

$500,000

0%

$500,000

0%

MAX PRICE SOLD

$3,450,000

$3,900,000

13%

$4,775,000

22%

Source: BAREIS, June 30, 2011

Source: BAREIS, June 30, 2011

Napa City Stats Q2 2010 vs Q2 2011

Napa County $500K - $1 Million - Single Family Homes TIME PERIOD

Apr - Jun '09

Apr - Jun '10

'09 - '10 % Change

Apr - Jun '11

'10 - '11 % Change

CITY

# SALES Q2 2010

# SALES Q2 2011

% CHANGE AVG PRICE AVG PRICE % CHANGE AVG DOM # SALES Q2 2010 Q2 2011 AVG PRICE Q2 2010

AVG DOM % CHANGE Q2 2011 AVG DOM

VOLUME

$42,401,750

$40,123,471

-5%

$42,575,354

6%

NAPA

206

232

13%

$420,881

$461,523

9.7%

104

135

30%

81

68

-16%

$341,267

$277,468

-18.7%

81

80

-1%

HOMES SOLD

62

60

-3%

62

3%

AMERICAN CANYON

AVG. DAYS ON MKT

112

130

16%

174

34%

CALISTOGA

15

11

-27%

$687,065

$732,182

7%

224

151

-33%

MEDIAN PRICE

$635,000

$637,000

0.3%

$666,500

5%

ST. HELENA

19

23

21%

$1,144,284 $1,278,792

12%

103

228

121%

AVERAGE PRICE

$683,899

$668,725

-2.2%

$686,699

3%

YOUNTVILLE

6

5

-17%

$651,000

$576,732

-11%

154

143

-7%

MAX PRICE SOLD

$1,000,000

$995,000

-1%

$965,000

-3%

RUTHERFORD

0

0

0%

$0

$0

N/A

0

0

N/A

ANGWIN

2

0

-100%

$762,500

$0

-100%

46

0

-100%

Source: BAREIS, June 30, 2011

Source: BAREIS, June 30, 2011

WWee llooookk ffoorrwwaarrdd ttoo sseerrvviinngg yyoouu iinn 22001111..


Pacific Union International Real Estate Report

Pacific Union International Real Estate Report

SAN FRANCISCO

SAN FRANCISCO

Q2. 2011

A Member Of Real Living

“All politics is local,� the memorable one-liner coined by iconic House Speaker Tip O’Neill, is a concept appropriately convertible to the often-elusive practice of divining general real estate pricing and direction. Pundits’ pronouncements regarding national, state-wide and even “Bay Area-wide� real estate valuation and trends too often ignore the myriad and substantial differences between properties situated in, say, Presidio Heights vs. Pittsburg (CA or PA), Noe Valley vs. Newark (CA or NJ), etc.

!iimmmmyy WWaannnniinnggeerr 990011 SSiirr FFrraanncciiss DDrraakkee BBllvvdd KKeennttffiieelldd,, CCAA 9944990044 441155..999900..88999900

Accordingly, when faced with occasionally ominous proclamations – even from such well-regarded analysts as S&P/Case-Shiller – that “San Francisco� property values are going this way or that, careful and discriminating readers will take into account that S&P/Case-Shiller’s “San Francisco� is, in actuality, a combination of San Francisco, Contra Costa, San Mateo, Marin and Alameda counties. The disparities in terms of business base, cultural offerings, public services/infrastructure, economic vitality and general life-style, amenities, land scarcity and other factors between and among these five counties that influence real estate values are so striking as to call into question the usefulness of these predictions for the typical home-buyer and home-seller.

jjiimmmmyy@@jjiimmmmyymmaarriinn..ccoomm wwwwww..!iimmmmyyMMaarriinn..ccoomm DDRREE## 0011335522228877

So where did the city and county of San Francisco stand at the end of Q2 2011? Carrying forward the overall performance of condos in Q1, Year-to-Date Q1/Q2 figures reported to the MLS showed robust increases in number of units sold (in all price ranges) versus Q1/Q2 2010, even as median sales price trended modestly downward. An appreciably higher number of under$1M single family homes sold YTD 2011 than in Q1/Q2 2010, the median price (as with condos) slightly lower; volume and median sales price of higher-end SFHs were off to a somewhat great extent vs. 2010.

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Pacific Union International Real Estate Report

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Q2. 2011

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SAN FRANCISCO

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A Member Of Real Living

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Tenancies-in Common 7%

Condos â&#x20AC;&#x201C; and, remarkably enough, higher-end condos â&#x20AC;&#x201C; moved particularly well during the first half of 2011 as insightful and well-advised condo owners priced their units to sell. As was the case when we closed out Q1, opportunities (for home buyers and sellers alike) abound as we enter Q3. And again contributing to an atmosphere of success are the still unusually attractive home mortgage rates, though speculation continues as to how long they will remain in the basement.

Single Family Homes 48% Condos & Co-ops 45%

In any event, the prudent and perceptive buyer and seller will look behind and beyond real estate headlines â&#x20AC;&#x201C; whether doom and gloom or breathlessly positive â&#x20AC;&#x201C; and recognize that they may have limited (and perhaps even no) application to his or her particular situation. Because, like politics, â&#x20AC;&#x153;all real estate is local.â&#x20AC;?

Sincerely, TENANCIES IN COMMON

Jimmy Wanninger

CONDOMINIUMS

!iimmmmyy WWaannnniinnggeerr

SINGLE FAMILY HOMES As of June 30, 2011

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Pacific Union International Real Estate Report

Pacific Union International Real Estate Report

Q2. 2011

MEDIAN PRICE

homes sold comparison

A Member Of Real Living

A Member Of Real Living

Second Quarter Median Price By Property Type And Neighborhood ‘10

CONDOMINIUMS

$699K

SINGLE FAMILY HOMES

$1.02M $1.09M

$2.95M

‘10

$540K

‘11

$700K $3.1M $2M

‘10

‘11

‘10

‘11

$685K

$570K

$700K

$675K

$588K

$654K

$723K

$634K

$762K

$827K

$1.27M

$1.4M

$1.18M

$1.25M

NOB/RUSSIAN/ TELEGRAPH HILL

PAC HEIGHTS/ MARINA

‘11

‘10

$501K

$470K

$475K

$835K

$642K

$615K

$713K

$790K

$758K

$731K

SOMA/MISSION/ POTRERO

$1.3M

LOWER PAC HEIGHTS/ HAYES/NOPA

‘11

‘10

$469K

$567K

$734K

$639K

$995K

$1.06M

NOE/CASTRO/ HAIGHT

RICHMOND/ SEACLIFF

‘11

‘10

‘10

$723K

$435K $430K

$393K

$660K

$900K

$785K

‘11

‘10

$338K $595K

ST. FRANCIS  WOOD/ MIRALOMA/ FOREST  HILL

SUNSET/ PARKSIDE

Source: SFAR MLS, June 30, 2011

13

Single Family Homes Q2 2011 Sold Comparison

TENANCIES IN COMMON

‘11

$1.33M

Q2. 2011

‘11

‘10

$330K $542K

‘11

$357K $480K

LAKE MERCED/ INGLESIDE

$345K $424K

BAYVIEW/ EXCELSIOR

Apr - Jun 2011

Under $1 Million

'10 - '11 % CHANGE

$1-3 Million

'10 - '11 % CHANGE

$3 Million+

'10 - '11 % CHANGE

VOLUME

$296,839,038

-5%

$243,069,675

-9%

$106,612,769

-14%

UNITS SOLD

477

0%

157

-8%

24

-14%

AVERAGE DOM

66

25%

47

-18%

88

42%

MEDIAN PRICE

$624,000

-7%

$1,350,000

-4%

$3,502,500

-7%

AVERAGE PRICE

$622,304

-5%

$1,548,214

0%

$4,442,199

0%

Source: SFAR MLS, June 30, 2011

Condominiums Q2 2011 Sold Comparison Apr - Jun 2011

Under $1 Million

'10 - '11 % CHANGE

$1-2 Million

'10 - '11 % CHANGE

$2 Million+

'10 - '11 % CHANGE

VOLUME

$289,169,929

-12%

$120,588,969

5%

$80,465,500

93%

UNITS SOLD

483

-9%

93

4%

28

100%

AVERAGE DOM

76

4%

57

12%

74

10%

MEDIAN PRICE

$599,000

-4%

$1,207,500

-3%

$2,599,000

-8%

AVERAGE PRICE

$598,696

-4%

$1,296,656

0%

$2,873,768

-3%

Source: SFAR MLS, June 30, 2011

San Francisco Units Sold by Property Type and Neighborhood Q2 2011 TENANCIES IN COMMON

Tenancies In Common Q2 2011 Sold Comparison

CONDOMINIUMS

26 213

64 SOMA/MISSION /POTRERO

86

94

SINGLE FAMILY HOMES

0 20 128

1 10 114

19 106 10

NOE/CASTRO/ HAIGHT

BAYVIEW/ EXCELSIOR

SUNSET/ PARKSIDE

0 16 96

8

11 68

19

26

27

48 10

0 12

65

46

NOB/RUSSIAN/ ST. FRANCIS  WOOD/ PAC  HEIGHTS/ LOWER  PAC  HEIGHTS/ RICHMOND/ TELEGRAPH  HILL MIRALOMA/ SEACLIFF MARINA HAYES/NOPA FOREST  HILL

LAKE MERCED/ INGLESIDE

Apr - Jun 2011

$500K and under

'10 - '11 % CHANGE

$500K and higher

'10 - '11 % CHANGE

VOLUME

$13,389,276

-1%

$59,274,809

78%

UNITS SOLD

32

-6%

68

48%

AVERAGE DOM

105

4%

72

-18%

MEDIAN PRICE

$427,000

2%

$727,000

10%

AVERAGE PRICE

$418,415

5%

$871,688

20%

Source: SFAR MLS, June 30, 2011


Pacific Union International Real Estate Report

Pacific Union International Real Estate Report

EAST BAY

EAST BAY A Member Of Real Living

Q2. 2011

Real Estate News v. Real Estate “Noise”

There are two types of real estate information out there in the media. One we would call “noise” and is typically reported on a quarterly basis and covers a region or more often the nation. Most of these reports track closed sales and are reported anywhere from thirty to sixty days after the completion of the research cycle, either monthly or quarterly. The information is, by design, general in nature and somewhat dated by the time it is published. The S&P/Case-Shiller Report Index™ and the First Republic Prestige Home Index™ are two examples of this type of reporting. These reports provide retrospective and relative indicators of value and activity; however, they do not provide insight into future trends on a local basis.

!iimmmmyy WWaannnniinnggeerr 990011 SSiirr FFrraanncciiss DDrraakkee BBllvvdd KKeennttffiieelldd,, CCAA 9944990044 441155..999900..88999900 jjiimmmmyy@@jjiimmmmyymmaarriinn..ccoomm wwwwww..JJiimmmmyyMMaarriinn..ccoomm DDRREE## 0011335522228877

The other type of real estate information is provided by experts who work day to day in a local market. This information often looks similar to the information we provide in this quarterly newsletter. We believe that real estate is local, and further, that market activities and trends can be unique within a marketplace or county depending upon specific neighborhoods or even specific price points. We also believe that properties under contract (pending sales) or new escrows are the industry’s most meaningful indicator of near term trends. Our review of new escrows in the East Bay* real estate market reveals encouraging movement even though early summer is not usually considered the peak sales season. The chart below illustrates current trends by percentage for properties currently “under contract” versus the same time period twelve and twenty-four months ago. While specific neighborhoods may be performing differently and prices may be lower than meet sellers’ expectations, our markets under the million dollar price point are continuing to accelerate, at least in terms of units “under contract”. All Price Ranges

$ 500K to $1 Million

Under Contract (v 24 months ago)

38.5%

12.0%

34.8%

Under Contract (v 12 months ago)

39.2%

26.0%

-22.5%

Listing Inventory (v 24 months ago)

30.9%

19.8%

-7.7%

Listing Inventory (v 12 months ago)

8.9%

6.4%

-8.9%

2.1

1.9

3.1

Single Family Homes

Pacific Union International Real Estate Report

EAST BAY A Member Of Real Living

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Q2. 2011

Months of Inventory

$1 Million and Up

Source: EBRD June 30, 2011 *Oakland zip codes 94602, 94609, 94610, 94611, 94618, 94619, 94705, Piedmont, Berkeley, Albany, Kensington and El Cerrito.

As the Months of Inventory figures above indicate, the listing inventory in most price ranges is meeting current demand. Almost half of the sales in the second quarter closed at or above the original list price with an average of sixteen days on the market, confirming that the market responds quickly to well-priced properties and that a realistic list price is critical to attracting today’s qualified buyer. Do not underestimate the power of demand-based pricing. Price your property within local market demand tolerances and you will likely ratify a new escrow in your first three weeks on the market. Flirt with the high end of your price range and prepare to be part of inventory statistics. In this marketplace, we encourage buyers to make housing decisions based first on the quality of the home environment they are seeking and second on the opportunity associated with their investment. It is our feeling that a “buy and hold” strategy for at least five years will likely make today’s home purchase a lucrative investment. We do not see the “buyers’ window” closing. In a broader sense, we see more realistic sellers everyday, which translates into more demand-based, realistic pricing for pre-approved, motivated buyers. Please remember to seek out local news, trend analysis and professional advice for your real estate decisions. If you are a seller, be realistic about your presentation; stage your home when it is recommended and meet market demands with realistic pricing. If you are a buyer, seize opportunities when they arise, as the best priced properties continue to move quickly and often receive multiple offers.

Sincerely,

Jimmy Wanninger JJiimmmmyy !aannnniinnggeerr

441155..999900..88999900 jjiimmmmyy@@jjiimmmmyymmaarriinn..ccoomm wwwwww..JJiimmmmyyMMaarriinn..ccoomm 990011 SSiirr FFrraanncciiss DDrraakkee BBllvvdd,, KKeennttffiieelldd,, CCAA 9944990044


Pacific Union International Real Estate Report

Pacific Union International Real Estate Report

Q2. 2011

HOMES SOLD COMPARISON

Q2. 2011

HOMES SOLD COMPARISON

A Member Of Real Living

A Member Of Real Living

Albany All Prices - Single Family Homes

Oakland Area* All Prices - Single Family Homes TIME PERIOD

Apr - Jun '09

Apr - Jun '10

'09 - '10 % Change

Apr - Jun '11

'10 - '11 % Change

TIME PERIOD

Apr - Jun '09

Apr - Jun '10

'09 - '10 % Change

Apr - Jun '11

'10 - '11 % Change

VOLUME

$153,357,992

$196,325,373

28%

$170,309,174

-13%

VOLUME

$14,404,830

$12,629,580

-12%

$11,619,400

-8%

HOMES SOLD

240

308

28%

276

-10%

HOMES SOLD

23

20

-13%

19

-5%

AVG. DAYS ON MKT

35

32

-9%

41

28%

AVG. DAYS ON MKT

45

28

-38%

28

0%

MEDIAN PRICE

$632,500

$610,000

-4%

$572,500

-6%

MEDIAN PRICE

$620,000

$585,700

-6%

$585,000

0%

AVERAGE PRICE

$638,991

$637,420

0%

$617,062

-3%

AVERAGE PRICE

$626,296

$631,479

1%

$611,547

-3%

MAX PRICE SOLD

$2,000,000

$2,250,000

13%

$2,405,000

7%

MAX PRICE SOLD

$867,000

$975,000

12%

$1,089,000

12%

Source: EBRD

Source: EBRD *Defined by Oakland zipcodes: 94602, 94609, 94610, 94611, 94618, 94619, 94705

Piedmont All Prices - Single Family Homes

Kensington All Prices - Single Family Homes

TIME PERIOD

Apr - Jun '09

Apr - Jun '10

'09 - '10 % Change

Apr - Jun '11

'10 - '11 % Change

TIME PERIOD

Apr - Jun '09

Apr - Jun '10

'09 - '10 % Change

Apr - Jun '11

'10 - '11 % Change

VOLUME

$35,920,600

$35,328,000

-1.6%

$64,658,048

83%

VOLUME

$9,377,400

$13,573,000

45%

$10,097,000

-26%

HOMES SOLD

26

25

-4%

42

68%

HOMES SOLD

13

19

46%

14

-26%

AVG. DAYS ON MKT

37

19

-49%

20

5%

AVG. DAYS ON MKT

40

23

-43%

27

17%

MEDIAN PRICE

$1,141,250

$1,280,000

12%

$1,350,500

6%

MEDIAN PRICE

$775,000

$750,000

-3%

$702,500

-6%

AVERAGE PRICE

$1,381,561

$1,413,120

2%

$1,539,477

9%

AVERAGE PRICE

$721,338

$714,368

-1%

$721,214

1%

MAX PRICE SOLD

$3,100,000

$3,150,000

2%

$4,500,000

43%

MAX PRICE SOLD

$975,000

$935,000

-4%

$1,275,000

36%

Source: EBRD

Source: EBRD

Berkeley All Prices - Single Family Homes

El Cerrito All Prices - Single Family Homes

TIME PERIOD

Apr - Jun '09

Apr - Jun '10

'09 - '10 % Change

Apr - Jun '11

'10 - '11 % Change

TIME PERIOD

Apr - Jun '09

Apr - Jun '10

'09 - '10 % Change

Apr - Jun '11

'10 - '11 % Change

VOLUME

$98,352,844

$124,789,616

27%

$107,539,950

-14%

VOLUME

$27,821,120

$34,536,272

24%

$27,446,275

-21%

HOMES SOLD

138

152

10%

148

-3%

HOMES SOLD

50

63

26%

53

-16%

AVG. DAYS ON MKT

34

24

-29%

29

21%

AVG. DAYS ON MKT

35

30

-14%

35

17%

MEDIAN PRICE

$626,707

$727,500

16%

$655,000

-10%

MEDIAN PRICE

$542,500

$560,000

3%

$487,000

-13%

AVERAGE PRICE

$712,701

$820,984

15%

$726,621

-11%

AVERAGE PRICE

$556,422

$548,194

-1%

$517,854

-6%

MAX PRICE SOLD

$2,505,000

$2,300,000

-8%

$2,555,000

11%

MAX PRICE SOLD

$910,000

$834,136

-8%

$875,000

5%

Source: EBRD

Source: EBRD


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