The drop, which is typical for this time of the year, was expected. August’s decline is largely attributed to the ’summer slowdown’. However, besides the normal slowdown, the recent headlines about the plunging U.S. housing market hasn’t helped things. In July, sales of previously owned homes dropped a whopping 27.2 percent nationally and Marin homebuyers have been showing a cautious attitude since the news. Interestingly, home prices in Marin were actually up 4.23 percent in July and we suspect Marin also outperformed the national market in August as well.

In Marin, home prices are stabilizing and the market is making a slow recovery. However, I don’t think we are going to see steady growth. Marin real estate will probably remain choppy in the months ahead as the economy struggles to find its way.

]]> http://www.marindreamhouse.com/wordpress/?feed=rss2&p=1001 0 http://www.marindreamhouse.com/wordpress/?p=980 http://www.marindreamhouse.com/wordpress/?p=980#comments Thu, 26 Aug 2010 18:26:07 +0000 MarinDreamHouse.com http://www.marindreamhouse.com/wordpress/?p=980 Mortgage rates fell to the lowest level in decades for the ninth time in 10 weeks, as concerns grow that the economy is weakening.

Freddie Mac today released the results of its Primary Mortgage Market Survey in which the 30-year fixed-rate mortgage (FRM) averaged 4.36 percent with an average 0.7 point for the week ending August 26, 2010, down from last week when it averaged 4.42 percent. That’s the lowest since Freddie Mac began tracking rates in 1971. Last year at this time, the 30-year FRM averaged 5.14 percent.

Rates have fallen since spring as investors shifted money into the safety of Treasury bonds, lowering their yield. Mortgage rates tend to track those yields.

Primary Mortgage Market Survey [Freddie Mac]

$1,649,000 5 Bonita St. Sausalito, CA 3 beds, 3 baths 2454 sqft, 1904 year More Info >>

Originally listed for $1,868,000, this updated 1900’s Victorian enjoys beautiful Bay views and is located 1-block from shops & restaurants of Caledonia St. 3 bedroom + bonus room, office, gourmet kitchen, formal dining room, living & family room, fireplace, hardwood floors, mature landscaping and 1-car garage.

$7,000,000 4639 Paradise Dr. Tiburon, CA 5 beds, 5 baths 6000 sqft, 2010 year

Originally listed for $7,485,000, this modern paradise with breathtaking views of the bay features 5 bedrooms, 5 full baths with approximately 6,000 sq ft of living space on nearly 1.2 acres. Gated private drive, dbi infinity-edge salt water pool & spa, sliding walls of glass, patio with fireplace, beautiful gardens, large lawn and more.

Overall, July’s report looks positive. Especially considering summer is a particularly slow season for the housing market and a broader look at Marin home prices this year seems to indicate the market is making a recovery. Prices are up 11% from Q1 to Q2. Still, it’s a yo-yo economy with some uncertainty ahead.

]]> http://www.marindreamhouse.com/wordpress/?feed=rss2&p=960 1 http://www.marindreamhouse.com/wordpress/?p=946 http://www.marindreamhouse.com/wordpress/?p=946#comments Mon, 26 Jul 2010 17:31:30 +0000 MarinDreamHouse.com http://www.marindreamhouse.com/wordpress/?p=946 This world-class contemporary Tiburon estate located at the very top of Mt. Tiburon (aka ‘Top of the World’) sold in July for $6.9 million.

$6,900,000 133 Sugarloaf Dr. Tiburon, CA 4 beds, 8 baths 7449 sqft, 1991 year

Originally listed for $8.900,000, this outrageous Tiburon home features 4 bedrooms, 6 full baths & 2 half baths with 360 degrees of views. Gated & entirely private, this grand contemporary boasts approx 7,500 sqft of glass-walled interior space with unsurpassed views of the entire SF Bay Area.

Freddie Mac today released the results of its Primary Mortgage Market Survey in which the 30-year fixed-rate mortgage (FRM) averaged 4.56 percent with an average 0.7 point for the week ending July 22, 2010, down from last week when it averaged 4.57 percent. Last year at this time, the 30-year FRM averaged 5.20 percent.

The decline in mortgage rates over the past few weeks echoes the recent signs of weakening confidence in the strength of the national economy. Fortunately, things are faring much better for the Marin housing market. Marin home prices have stabilized for the most part, and buyers are taking advantage of all-time record low rates.

Primary Mortgage Market Survey [Freddie Mac]

$1,375,000 256 Evergreen Ave Mill Valley, CA 3 beds, 3 baths 2200 sqft, 1955 year More Info >>

Originally listed for $1,495,000, this single story 3-bedroom Mill Valley home is situated on a large level sunny lot in one of the most sought-after neighborhoods. Spacious modern kitchen just completed, remodeled master suite, hardwood floors, large sliders, skylights, fireplace and attached garage.