February 2010

Found 8 blog entries for February 2010.

I wanted to let friends, clients and  visitors to the Marin Modern Real Estate website know that I have an upcoming Eichler listing in Marin County that will be hitting the market within the next few weeks.   

Located at 794 Las Colindas in San Rafael's popular Terra Linda neighborhood, this well-maintained and move-in ready Eichler home features 3 bedrooms, 2 bathrooms, an updated kitchen, and mature, well-maintained landscaping.   2-car garage parking.

The location of the home provides excellent proximity to top-rated schools (both pre-schools and Dixie School District grade schools),  grocery &  specialty food stores (Scotty's Market, Three Twins Ice Cream, Panchitos, Weezy's Grass Fed Shed, Lo Coco's Pizzeria, Sushi Roll ), and the convenient

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I just listed a classic mid-century modern Alliance home in San Rafael and wanted to share news of this new listing with our clients and visitors before the property hits the market!

Located at 405 Hibiscus Way in San Rafael, this 3 BR / 2 BA Alliance Home is located on a quiet street in the Terra Linda neighborhood of San Rafael.   This Alliance home features classic post-and-beam construction and is reminiscent in design to Eichler homes found throughout San Rafael.    Property features include an open floorplan, high beam ceilings, newer eco-friendly flooring (bamboo), in floor radiant heat, wonderful landscaped yard for relaxing and entertaining, and 2 car garage parking.    Located in San Rafael's Dixie School District.

The property will be

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The Marin real estate market continues to be active, which is always encouraging. But what is really interesting is the contrast in the data. More homes sold in January 2010 than January 2009. 113 single family residences sold, as opposed to 82 the year before. That's almost 39% more homes sold this January. Conversely, the median price of homes in January 2010 is down to $640,000, compared to $750,000 in January 2009. That's a decline of nearly 15% from last year, as reported in the Marin Independent Journal.

While this surprised some people, these results suggest that folks are focused on homes under $1 million, where financing is more readily available, and more people have the ability to qualify for loans. Plus, homebuyers are looking for discounts

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Whether buying a new property or refinancing an existing loan, it is essential to get a professionally constructed and detailed appraisal report. Since every property is unique, with marketability determined not only by set amenities like the number of bedrooms and square footage, but also by more nuanced factors such as the view, a seasoned, local appraiser is crucial.  This is especially so in non-conforming areas such as Marin where architectural styles vary and geographic features distinguish small pocket neighborhoods, impacting values. Unfortunately, the Home Valuation Code of Conduct (HVCC) adopted by most lenders in May 2009 has made contracting a good appraiser a more tenuous prospect.

HVCC requires appraisals to be ordered through Appraisal

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One question that is on most of our minds regarding real estate is...are we at the bottom yet?? Though no one has a crystal ball there are indicators that are saying that there is a good chance we are.  If you have been standing on the side lines wondering when to jump in, this may be your opportunity.  To give you an example, Novato in 2000 the median price for single-family home was nearly $479,000 and in 2009 that same house is $541,000, an increase of $62,000 in ten years.  During this 10 year period this house spiked to $830,000 then down again to $541,000.  However, in areas like Sausalito in 2000 a median home was $1.03M, skyrocketed to $1.45M in 2007 and now is at $1.1M. In San Rafael in 2009 the median price of a home was $702,000 sold ten years

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I wanted to let our  friends and website visitors know that I have 4 different mid-century modern listings coming up in Marin within the next several weeks in case you, or someone you know, might  be interested.

My upcoming listings include:

  • 1 Double-A Frame, Atrium Model Eichler Home in Upper Lucas  Valley (5 bedrooms) - $885k
  • 1 Courtyard style Eichler Home in Upper Lucas Valley (4 bedrooms) - $800k
  • Remodeled Eichler Home in Terra Linda North (3 bedrooms) - $669,900
  • 1 mid-century modern Alliance Home in Terra Linda North (3 bedrooms) - $685,000

These listings will be priced from $685,000 - $885,000 and I anticipate a lot of interest since this has been a hot price range for Marin Eichlers over the past few months and these

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Although it’s common knowledge that the major banks have been criticized for denying millions of loans, there is a false assumption that one’s own credentials are necessarily stronger than those who’ve been declined. While many borrowers are rejected for low income, poor credit scores, lack of equity, etc, strongly credentialed candidates are also routinely denied mortgage financing. Many reasons explain why solid loan files get rejected, including shoddy underwriting, today’s compromised appraisal process, or minor anomalies within a borrower’s loan package. Some lenders may reject certain properties while others not. Keep in mind that the loan process is inherently chaotic –even in a good housing market –as its goal is to commodify the unique

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I just helped my clients close escrow on a house in Novato in a great location. We were competing with multiple buyers and after three weeks of back and forth, finally negotiated a deal for $635,000 with the bank that owned it!

The house is a large 5 bedroom/3 bathroom beauty set on almost an acre in the sought after Country Club neighborhood,  It has a huge brick patio in the back yard, remodeled chef’s kitchen and bathrooms, separate family room plus wood floors throughout. It's close to shopping, public transportation and The Marin Country Club.

I would be happy to help you with all of your real estate needs as well. Contact me whether you are looking for a Novato entry-level home, a luxary Novato home or a home in Southern Marin neighborhood.

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