Marin Mortgage News

The latest news on mortgages and green-lending practices in Marin County and the San Francisco Bay Area.

Found 126 blog entries about Marin Mortgage News.

2016 has proven to be an unusual year for the Marin real estate market. With the equity markets in turmoil over the exit of Britain from the EU (and the resignation of their Prime Minister), there will be a delay in U.S. interest rate hikes for the foreseeable future.
While that bodes well for our real estate market, the free fall of equities needs to be contained lest we see a fallout in real estate prices come this fall when bonuses are paid.
So many of our buyers rely on the benefit of their equity position for their down payment that Marin is likely to see a home price correction unless the international market corrects itself and fast.
Locally, we are certain to have continual expansion of tech companies and a continued inflow of top-level employees

1,035 Views, 0 Comments


 

poster2_800.

 

 

This year there will be 100 master street painters who will create an amazing gallery on the streets near the San Rafael Mission. It's a very fun and eye-candy experience to see these creations!  A feature this year will be a 3D painting of Rome's iconic Trevi Fountain.. a major highlight of this this painting will actually take 5 days to create by world-famous Master Madonnara, Julie Kirk-Purcell, and a group of  young adult artists being who are being mentored on anamorphic technique (dictionary.com defines anamorphic as having or producing unequal magnifications along two axes perpendicular to each other).

There's activities, music, food and fun for all at this yearly event.  Here are some of the

1,086 Views, 0 Comments

 

a_pen_on_top_mortgage_royalty_free_clipart_picture_081204-171839-910018_300

 

 

I just read a very interesting article by Kenneth R. Harney, who writes a syndicated column, The Nation's Housing, (New York Times, Chicago Tribune, Inman News, etc.) titled, "Fannie Mae Making Credit Habits into Mortgage Issue." The article was saying that folks with credit cards are considered either a "revolver" or a "transactor" which is determined by whether they make small or minimum payments on their credit card (revolver) or whether they pay off their credit card debt in full each month (transactor). 

Up to now lenders didn't care which we were as long as we were current on any payments.  Credit reports show exactly that too-whether you are current or whether you are in default or late on any and they never showed what we

1,197 Views, 0 Comments

img_1606_800.

 

I had the pleasure of representing the new owners of 20 Burning Tree Drive in the County Club section of Novato.  My clients have grown "kids," that moved to San Francisco and so they decided to sell their home in England and come across the pond, too!  On the must have list was a house with lots of light, picturesque views and great outdoor space for enjoying our California weather....and this property has it all and so much more!  Boasting large bedrooms, 2 family rooms, large LR and DR,  an office and even a wine cellar, this home will be the beginning of making many new wonderful memories for this fabulous family! 

If you are looking for a property to start making your new memories a reality, please give me a call and we can get those…
1,180 Views, 0 Comments

7470dd25ac00c7c03e02fa7c3ca7d935-medium_360 bc988cbbc56c4c3f1b5877a0945a116a-medium_360

 

4e0ccffef18f903df164914ae42163f8-medium_540  

 

bce3ffdb089015ee47ec13565251f6f7-medium_360_01  

 

The pavered sidewalk takes you past a fountain and thru a beautiful wood and iron door into a spacious entry hall.   The main floor of this impeccably maintained home features a formal living room with a gas fireplace , a dining area, an upgraded kitchen with  granite counters, large built-in refrigerator, center oversize island with electrical and storage, as well as  a bedroom with full bathroom.   Up the semi-circular, floor lighted stairway the landing allows you to go 3 different ways: to the large bonus family room, or to the Master bedroom area or to the Jack and Jill bedrooms. The large Master bedroom has a walk-in closet, large jacuzzi tub with it's own TV, separate shower and double sinks.

This property also has custom wood

1,166 Views, 0 Comments

 

realestate-2_120

 

 

I know you've read and heard over and over what a highly competitive market we are in. The Bay Area always has been a very desirable place to live, and with low inventory, high demand and lots of buyers out there (both all cash and financing buyers), this truly is a strong sellers market. Having said that, a buyer can compete and win.  Read on!

When working with a buyer, many of us put in offers for our clients only to find we are in a multiple offer situation, repeatedly... and this can cause all of us, clients and agents, to feel stressed and anxious.

So, what is the best way to navigate the market?  I find the best thing I can do is, right from the beginning, be completely honest with my clients by giving them all the

1,336 Views, 0 Comments

Who's Mortgage Do You Want To Pay?

 questionrealestate_01

The rent vs. buy question comes up all the time in Real Estate. Now more then ever that threshold is changing and renters considering a purchase have to crunch the numbers and make a decision. Rent or buy?

With continuing high demand, low inventory and rising home prices rents are also rising.

 rent-and-buy-keys-showing-house-and-home_zyxyjmw__400_01

There are a number of rent vs. buy calculators that can provide a window into your specific situation. Are you making a high enough monthly rent payment that would cover a mortgage? When you figure in your total payments or PITI (principle, interest, taxes and insurance) and tax benefits could you be paying towards your mortgage or are you financing your landlords mortgage?

A simple calculator is however,

2,030 Views, 0 Comments

Standard lender guidelines preclude financing on condo projects in which any single entity controls more than 2 units or 10% of a project. I have a great funding source that has no restrictions regarding the number of units or percentage of units controlled by a single entity (such as the developer or an investor). They are fine with either new developments or established projects where control has been turned over to the HOA. The investor offers 80% financing to $3,000,000 and even allows for Asset Depletion as a supplemental income source (see below). Here is a bit more information on this great program:
  • Offered for Primary Residences or Second Homes, only.
  • 80% financing offered to $3,000,000.
  • Flexibility with income qualification. Lender allows for
1,921 Views, 0 Comments

Loans for first-time buyers tend to be more restrictive, especially in the realm of Jumbo financing. Down payment requirements and credit scores are expected to be higher and overall loan sizes are generally scaled down. Here is a loan program to get around these limitations and the financing terms are highly competitive. Financing is offered on a range of products (30-year fixed, 5 and 7-year fixed ARMS) and is structured with an 80% first mortgage and a 5% second for down payments as low as 15% on loans to $1.5 Million. (This supports a purchase price just shy of $1,765,000.) 5% equity lines are offered with favorable margins as well as 30-year fixed second mortgages. Pricing is highly competitive and the program is quite well-suited to the needs of

1,611 Views, 0 Comments

People Moving In - People Moving Up - People Moving Down - People Moving Out

house-icon-shows-home-investing_g1eb3-wu_148

There have always been more people who want to live in Marin than there are homes to sell them.  That's nothing new.  A common refrain these days from "fence sitting" sellers is, "I don't want to put my home on the market because I might not find a replacement property."  It seems to be creating a self-fulfilling prophecy of low inventory and off- market match-making. The real estate PR machine keeps stoking the fire.

What feels a little different about the current real estate market is the imbalance in the type of housing and the demographics driving the market. A healthy real estate market depends on people moving in, moving up, moving down and moving out. The

1,316 Views, 0 Comments