January Newsletter
Our thoughts and prayers go out to all of those in Los Angeles affected by the fires. My brother, Kevin Lake, lives in Pacific Palisades and was a very instrumental part of saving multiple structures in his neighborhood. Kevin, thanks for being who you are.
My clients in both Marin and Aspen are reaching out about the impact of this tragedy on our industry as a whole. “Will those who lost homes consider a move to Marin County? What will happen with home insurance in Marin, which was already experiencing huge declines in commitments from insurers prior to the fires in LA?” Insurance is and will continue to be challenging for many in Marin and the Bay Area. You might consider calling your insurance company and understanding their position on the renewal of your policy going forward.
Critical insurance and necessary coverage:
Dwelling (covers the structure of your home): Best to insure for replacement cost, not market value.
Personal Property (protects your belongings within the home): Typically 50%-70% of dwelling coverage; opt for replacement cost.
Liability (covers legal costs of injury or damage on your property): Consider $100K+; umbrella policy recommended.
ALE (pays for temporary housing if your home is unlivable): Ensure coverage matches local rental rates.
Natural Disaster Insurance (wildfire, earthquake, flood): In California, most standard policies have stopped protecting against wildfires, resulting in homeowners purchasing specialized coverage.
Inventory in Marin is still historically low and has been since rates started to increase in Spring 2022. With the advent of heightened wealth due to Bitcoin surge, end-of-year wealth transference within families, and stock market gains in 2024, I believe that there will be heightened demand for homes in Marin which will put pressure on pricing. My prediction is the market will soon be returning to multiple offers due to market conditions including scarcity and presidential elections being now behind us. So, if you see a home you love, you may well want to act on that home. Many have been on the sidelines now for 3 years.
Please read below for my upcoming Marin listings and videos that will provide insight into how to successfully sell your home for a higher price. This month I highlight the critical decision around staging your home. I look forward to answering any questions you may have and am always happy to help; even if you are not actively buying or selling. All my best for a great start to 2025 for you and your family.
January Insights
Upcoming Listings
Active Listings
Recent Sales
Author of Real Estate Rescue
Real Estate Rescue: How America Leaves Billions Behind in Residential Real Estate and How to Maximize Your Home's Value
As one of the top producing agents in the United States, Tracy has sold more than $4 billion of residential real estate over the course of a 26-year career. Too often, Tracy has seen home buyers and sellers make seemingly innocuous decisions that result in leaving extraordinary amounts of money on the table without them knowing it. Her book provides homeowners a clear roadmap to fully monetize the sale or purchase of their home.
Tracy is currently writing her second book on residential real estate.
Tracy's Recent Press
All information provided is deemed reliable but is not guaranteed and should be independently verified. If your property is currently represented by a real estate broker, this is not an attempt to solicit your listing.
Residential market activity reported to BAREIS MLS. Data deemed reliable but may contain errors and subject to revision. All numbers are approximate.
DRE# 01209397