Archive for April, 2009

Tiburon home sells for $9 million

Monday, April 27th, 2009

The sale of this magnificent Tiburon estate in late March for $9,000,000 set the record price so far this year in ‘09 for Marin County home sales.

$9,000,000

3 Rolling Hills Rd.

Tiburon, CA

6 beds, 8 baths

7475 sqft, 2008 year

One of Tiburon’s premier lots with sweeping views of San Francisco, the Golden Gate Bridge, Angel Island and Mt. Tamalpais. The 7,500 sqft new gated estate was listed for $10,500,000. The home features 12’ ceilings, radian heat, an elevator, infinity pool, spa, gym, home theatre and game room.

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Mill Valley Home Sales for Q1, 2009

Saturday, April 25th, 2009

Home sales in Mill Valley fall in the first quarter of ‘09 and buyers are taking advantage of the lowest prices in years.

The average sales price for Mill Valley is down 23% from its peak of $1,499,000 in 2008, presently at $1,151,000. During the same period, Marin County declined more than 25%.

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Mortgage Rates

Thursday, April 23rd, 2009

Mortgage rates dip in April, hovering just above all-time low.

Freddie Mac released the results of their mortgage market survey today, and the 30-year fixed-rate mortgage averaged 4.80% for the week ending April 23, 2009, down from 4.85% in March. It has been below 5% for six straight weeks.

The all-time low of 4.78% was recorded the week of April 2. Freddie Mac’s survey dates back to 1971.

Last year at this time, the rate averaged 6.03%.



Long-term rates now lower than short-term [Freddie Mac]

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Marin Home Sales for Q1, 2009

Friday, April 17th, 2009

Home sales in Marin County decline in the first quarter of ‘09 and buyers are finding discounted bargains.

Sales volume is down 49% from March 2007, and 15% from last year. Inventory, on the other hand, is up 25% and 9%, respectively. The increase in inventory and lack of demand (only 23% in contract) is putting pressure on home prices, which are down considerably. The average sales price for Marin is down 38% from its peak of $1,368,000 in 2007, presently at $840,000.

It’s definitely a buyer’s market and Marin homebuyers are taking advantage of the heavily discounted prices. We haven’t seen deals like these since 2003-’04, and this makes for a great opportunity for anyone in the market looking to buy.

If you have any questions, or would like more info about a specific area, please contact us at 888.DREAM-13 or by email.

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Too much property tax?

Wednesday, April 8th, 2009

The recent drop in home sales has some Marin homeowners wondering if they’re paying too much in property tax, and has prompted many to ask for a review of their property’s assessed value.

Property tax is largely based on the purchase price, and with home values approaching 2004-’05 levels, it’s estimated that there are hundreds of homes in Marin County that qualify for reassessment. The county is required to reduce the tax value when it finds instances of declines and a review could lead to a tax break, particularly for those who bought recently.

You can ask the Marin County Assessor-Recorder’s Office for an informal review by completing this form. You must provide 3 comparable properties that sold between Jan 1 – March 31, 2009.

If you need any help with your application, please don’t hesitate to contact us at 888.DREAM-13 or by email.

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Hot Properties | Top Marin homes for sale

Tuesday, April 7th, 2009

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 >>

$2,795,000
Belvedere, CA
2 Beds, 3 Baths
More Info >>

$2,675,000
Larkspur, CA
4 Beds, 4.5 Baths
More Info >>

$4,175,000
Mill Valley, CA
4 Beds, 3.5 Baths
More Info >>

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Neighborhood Homes Sold

Sunday, April 5th, 2009

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 March…

$4,900,000
30 Peninsula Rd, Belvedere
5 Beds, 6 Baths, 3425 sqft, 2006 yr
$5,000,000 (list)
2% below!

$2,300,000
4 Woodland Pl, Kentfield
4 Beds, 3.5 Baths, 3793 sqft, 1995 yr
$3,250,000 (list)
30% below!

$1,760,000
560 Edgewood, Mill Valley
4 Beds, 3.5 Baths, 3463 sqft, 2008 yr
$2,645,000 (list)
33% below!

$1,300,000
27 Vista Clara, Sausalito
3 Beds, 2 Baths, 1917 sqft, 1953 yr
$1,250,000 (list)
4% over!

$9,000,000
3 Rolling Hills Rd, Tiburon
6 Beds, 8 Baths, 7475 sqft, 2008 yr
$10,500,000 (list)
15% below!

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Market Report | March 2009

Friday, April 3rd, 2009

Last month home sales in Marin saw a nice jump from February, median price up 12%, but continued their overall slide downward from last year’s stellar performance.

The median price of a single-family home in Marin was $720,910, down 20% from $905,000 last year, and 89 homes were sold – down from the 105 homes in March 2008. In February, the median home price in Marin was $644,500 and 62 homes were sold.

The bulk of March’s decline was from the sale of distressed property in Novato and San Rafael, which have been hit particularly hard by the downturn in the housing market. The median price is down 23% and 21% from a year ago, respectively.

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