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News and insight into Marin´s highly unique real estate market
Mortgage rates hit a record low in March.
Freddie Mac reported Thursday the rate on the 30-year fixed-rate mortgage averaged 4.85% for the week ending March 26, 2009, down from 5.07% in February. Mortgage rates have now been below 5% for five consecutive weeks.
Last year at this time, the rate averaged 5.85% and the 30-year mortgage has not been lower since Freddie Mac started keeping records back in 1971.
Another record low for mortgage rates [Freddie Mac]
Each month we study the local sales trends and highlight the top deals in the county. Here’s a look at the hot buys for February…
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121 Palm Ave, Corte Madera |
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90 Vasco Ct, Mill Valley |
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1404 Grand Ave, San Rafael |
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675 Hawthorne Dr, Tiburon |
This beautifully appointed four bedroom, 3 bath Craftsman-style Corte Madera home has a wonderful open floor plan with plenty of room for play.
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$1,695,000 Buena Vista Ave. Corte Madera, CA 4 beds, 3 baths 2536 sqft, 1953 year More Info >> |
Features a slick open kitchen with top-of-the-line appliances, concrete countertops and eating bar. Fab family room off kitchen which opens to backyard. Private master suite with vaulted ceilings, great light and big views. Beautifully landscaped backyard + level lawn, stone patio, BBQ and play area. Located in one of Marin’s most sought-after areas with fine dining, shops and award-winning schools.
We track every new listing and post reviews of the hottest new properties in Marin County. In addition, you can search the full MLS and view all homes for sale… MLS Search >>
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$1,450,000 |
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$3,125,000 |
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$1,300,000 |
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$3,850,000 |
Last month home sales in Marin continued their decline, median price down 15% from January.
The median price of a single-family home in Marin was $644,500, down 30% from $911,500 last year, and 62 homes were sold – down from the 80 homes in February 2008. In January, the median home price in Marin was $765,000 and 71 homes were sold.
The bulk of February’s decline was from the sale of distressed property in Novato and San Rafael, which have been hit hard in the recent months. The median price is down 33% and 35% from a year ago, respectively.
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