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May 2008 |
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Upcoming Events
In This Issue |
Gary's
Corner
This is the first of what we plan on being a monthly newsletter to keep you informed on what is happening on DeSilva Island. It is sincerely our desire that you participate in this newsletter by keeping us up to date on important events in your lives that you feel comfortable in sharing with all of us and facts that relate and would be of interest to all who are fortunate enough live in this beautiful spot. I say this at the start of every meeting ... this is your home, no doubt one of your biggest investments. We want to make it the best place it can be ... a safe and happy home for you and your family. It is not the job of one person or a board to take care of that for you ... it is all of our responsibility to nurture this stunning property. So please come to the meetings, participate in the committees and if you can't do either of those and you still want to participate then simply be kind and respectful to your neighbors. That simple act goes a very long way. Just a reminder that the pool and spa is up and running for the summer. If you take advantage of the spa please remember to put the cover on when finished. There is no need to warm the Universe. If you happen see people at the pool or spa using it who do not live here and are not the guest of an owner ... then do not hesitate to report it. We had several issues of that happening last year. Remember all pool toys and personal items need to go home with you after your time in the sun.
DeSilva Island
Real Estate Update
As I am sure you have read in the papers, we are experiencing some real estate turmoil, and find ourselves in the midst of an adjustment cycle. However, in looking at Mill valley statistics, we are doing much better than most towns around us. The number of properties sold in April of 2008, is substantially down from April, 2007 and April, 2006. In April of 2007, 42 properties sold, and in April, 2008, only 15 properties sold. However, and here is the good news! The average selling price is up by 1.5% for single family homes in Mill Valley! I believe the microclimate, the easy commute to San Francisco, and the excellent schools makes Mill Valley a solid and secure real estate investment. When you read the papers, be happy that you live in Mill Valley and not in the "Bay Area." On DeSilva, we had a large number of properties on the market this year. In 2008, we have seen 5 condos change hands already, with a 6th still in escrow. The prices have held somewhat, with perhaps a slight decline. It is my sense, that the only reason for that, is a huge number of condos on the market at the same time, giving the buyers some sense of leverage. The old supply and demand rule was in effect here for a while. Given the lower number in transactions in Mill Valley overall, DeSilva actually did very well, having 5 (almost 6) transactions in a short period of time. We are attracting more seasoned and financially capable buyers, who recognize that we are in a financial storm, it will pass, and the long term outlook for DeSilva Real Estate is very positive. We are now without any properties on the market on DeSilva, so hopefully we will find that we can stabilize a little bit, and continue to grow equity on this little safe haven of DeSilva. |
Dear DeSilva Friends and Neighbors: 
Welcome to our DeSilva newsletter.
It is my goal to keep you updated in the current real estate market
on DeSilva, and around us.