As the New Year begins, prospective homebuyers in the high cost Bay Area are doubtless wondering if 2009’s record low mortgage rates will continue into 2010. Judging from market reaction to Chinese central banker Zhu Min’s December 17th statement that the U.S. can’t expect other nations to increase purchases of Treasuries to fund its entire fiscal shortfall, it appears the likely answer is “no.” In response to his comment, the yield curve on Treasuries shot up along with mortgage interest rates. Rates on 30-year fixed loans have since increased on average by .25% and most projections for 2010 suggest they may climb as much as 1% over 2009’s lows by year’s end.
Although an increase of 1% is certainly significant, this would still keep mortgage rates at…
I just assisted one of my clients with the sale of their 1 bedroom / 1 bathroom condominium in Novato, California. The transaction closed today and the final sale price was $144,200.
Located at 866 Tamalpais, Unit D, this upper level unit is located in a small condomimium complex in Novato with 22 units. The development is located within walking distance to historic Old Town Novato and is within close proximity to public transportation. The unit was freshly painted and featured updated flooring throughout.
Contact me if I can assist you with your Novato real estate needs. Whether you are looking for a starter condo in Novato or a Novato luxury home, I would welcome the opportunity to assist you!
The Pros and Cons of Fixed and ARMs
Not so long ago, anyone looking to buy or refinance a home could have easily been overwhelmed by the choices available in mortgage loan types. Let’s see…there were fixed rate loans, ARM loans, interest-only loans, negatively-amortized loans --- you name it, you could find it. For better or worse, those days are gone, as banks have substantially reduced their product offerings to consumers due to economic factors beyond the scope of this blog. But here’s what the savvy borrower needs to know about the most common loan types still available.
Fixed Rate Loans
Most of us intuitively understand this type of loan, and given a choice, most of us select this type of loan. The concept is straightforward. Take a…
It's the last day of 2009 however we're still busy assisting our buyer and seller clients in Marin County! Today our Eichler listing at 12 Del Haro Way in San Rafael will close escrow at a final sale price of $771,000 ($31,000 over the original asking price!).
I was the listing agent on this transaction and represented the sellers of this Eichler home which received multiple offers over asking within just 1 week of hitting the market. My colleague Erika Davito of Marin Modern represented the buyers.
About 12 Del Haro Way, San Rafael, CA 94903
Lovingly cared for 4 Bedroom / 2 Bathroom atrium model Eichler home located in the Terra Linda area of San Rafael. This well maintained and well landscaped Eichler featured a spacious floor plan…
Buying and selling real estate in Marin will pick up as Spring 2010 approaches. Many homes in Marin County zip codes were built before asbestos was banned in the United States. A giveaway can be those popcorn ceilings that you see in older homes. However, the only way to know for sure is to get it tested. Here's why--although asbestos was banned in 1978, builders were allowed to use up their asbestos texture supplies.
Asbestos is most dangerous in the dry powder form, so it should be handled by a professional. Testing your ceiling costs about $40, and is the first step. Of course, poporn ceilings might not be your taste regardless of whether or not asbestos is present. So here are some approximate costs to remove popcorn texturing via a…
I assisted one of my buyer clients in locating and purchasing this charming 4 bedroom / 3 bathroom single-family home located at 45 Gertrude Lane in Novato for $485,500, an extremely competitive price range right now for Novato real estate listings.
The transaction just closed today and I was excited that I was able to move swiftly to secure this home for my client since the property received multipe offers (18 to be exact!) within days of hitting the market.
About 45 Gertrude Ln, Novato, CA 94947
Built in1954, this updated 4 bedroom / 3 bathroom ranch style home is located on a quiet cul de sac with a spacious yard offering views of the surrouding hills. The home features a number of recent updates including a remodeled bathroom with new…
In an effort to acknowledge our hard-working real estate agents in Marin & San Francisco, we recently hosted a team holiday luncheon and as a gift we provided each of our Realtors with a Flip Video Camcorder for use in assisting their home buyer and seller clients.
We were proud to offer our agents this token of appreciation since 2009 represented our best year ever as a company and we definitely "bucked the trend" by growing our residential real estate business in both Marin & San Francisco (both in terms of transaction volume & sales volume). This growth was purely organic and wasn't a result of an acquisition, headcount expansion, or even opportunistically riding the foreclosure or short-sale wave. Instead it came thru extremely hard work and…
We are kicking off the new year by hosting another one of our most popular events - Marin First Time Home Buyer Seminar on Saturday, January 16th from 10:00am-11:30am. With falling home prices, low interest rates and government incentives, 2010 is an opportune time to buy your first home in Marin. But, before you buy, there are some critical things you must know about the purchase process before you become a homeowner.
Buying your first home is a big deal. Find out how to successfully position yourself to make today's market work for you.
Attendees at this FREE 1.5 hour seminar will learn:
- The benefits and cost savings of buying vs. renting
- Current financing options
- How to improve your credit score
- How to qualify…
By all accounts, 2010 is the year to buy a house. Here in Marin, home values have diminished to 2003 levels, fixed mortgage rates are sitting near record lows, and the foreclosure epidemic has created some amazing opportunities for bargain hunters. Adding to this golden window of opportunity are the thousands of dollars in tax credits to nearly all first-time buyers and the bulk of existing home owners who close a purchase by June.
With that said, here are the top considerations (in my opinion) if you are looking to buy a home in Marin in 2010.
1. Home buyers need a stable income stream from employment.
2. Prices to bottom out: After more than three years of falling, real estate values have shown signs of stabilization in recent months and…
I'm excited to annouce the addition of Bill Hansell, an architect based in Marin County California, as a guest blogger on the Marin Modern Real Estate website. Bill will serve as a contributing editor to our Marin County real estate blog and will offer expert advice and insight on all things architecture & design related in Marin and the San Francisco Bay Area.
Bill has assisted a number of our clients and we welcome the opportunity to have him share his expertise and knowledge "online" with our clients, colleagues, friends, and website visitors. You'll be able to track his contributions online by visiting various categories on our Marin blog including Marin Architectural Homes, Green Living in Marin County, the Eichler Homes Forum, and more.