Archive for March, 2010

$10K homebuyer tax credit extended

Friday, March 26th, 2010

The hugely successful homebuyer tax credit legislation has been re-established and extended, signed today by Gov. Arnold Schwarzenegger.

The new law, AB 183, allocates a new $200 million credit for homes purchased between May 1 and Dec. 31, and between Dec. 31 and August 1, 2011. That’s twice the amount allocated for purchasers of new homes last year. Those funds were quickly depleted and builders have been asking for the credit’s return ever since.

The state has extended the $10,000 credit to first-time buyers of existing homes as well as buyers of new homes. The funds will be split evenly between the two groups, and buyers will have to occupy the home for at least two years.

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Mortgage rates inch up slightly

Thursday, March 25th, 2010

Mortgage rates inched up slightly this week, but still below 5 percent.

Freddie Mac today released the results of its Primary Mortgage Market Survey in which the 30-year FRM averaged 4.99 percent with an average 0.6 point for the week ending March 25, 2010, up slightly from last week when it averaged 4.96 percent. Last year at this time, the 30-year FRM averaged 4.85 percent.

Economists at the Mortgage Bankers Association are forecasting that rates on 30-year FRM will climb to 5.8 percent during the final quarter of 2010, average 6.2 percent in 2011 and 6.4 percent in 2012.

Mortgage Rates 03-25-10
Primary Mortgage Market Survey [Freddie Mac]

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$7.9 million Kentfield spread for sale

Monday, March 22nd, 2010

New property on the market in the flats of Kentfield on a gated 1/3 acre lot with 6-bedrooms, 8-baths is selling for $7.9 million.

$7,995,000
126 Cypress Ave
Kentfield, CA

6 beds, 8 baths
10800 sqft, 1937 year
More Info >>

The secluded property sprawls over 1/3 acres and features a 10,000 sq ft home with 5 en-suite bedrooms, large backyard with gardens, pool and outdoor kitchen. This property also includes a guest house w/ full bath, sport court & gym.

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Tiburon home sells for 5 percent above asking

Monday, March 15th, 2010

This very desirable one-level home in the Tiburon flats gets multiple offers and sells for $1,320,000 in the first week, 5-percent over the list price.

$1,320,000
15 Claire Way
Tiburon, CA

3 Beds, 2 baths
2028 sqft, 1953 year

Originally listed for $1,249,500, this home was recently remodeled and features a wide entry which opens to a Great Room w/ vaulted ceilings, open kitchen, large master suite that takes in the view and impeccable landscaping.

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Posted in Marin Homes Sold, Marin Real Estate | No Comments »

Marin ranked no. 19 wealthiest county in U.S.

Wednesday, March 10th, 2010

Marin County ranks No. 19 of the nation’s 25 wealthiest counties on Forbes richest list. The nation’s wealthiest counties are all suburban retreats outside of large cities, according to an analysis by Forbes.

Of the top 25, 19 of these counties are on the East Coast – just outside of New York City, Washington, D.C., and Baltimore. Williamson County, outside of Nashville, Tenn., and Forsyth County, outside of Atlanta, are the only Southern counties on the list. California has only two of the wealthiest counties, Marin and Santa Clara.

Counties No. 18 and 19 on the list are two wealth centers in California: Marin County and Santa Clara. As reported by Forbes, ‘picturesque and stylish Marin offers scenic vistas, health care industry and technology industry money–Kaiser Permanente and Comcast are among its major employers–and a median income of $88,101. Well-paid, highly skilled tech jobs boost the median income to $87,287 in Santa Clara.’

The data comes from the U.S. Census Bureau, which examines the average incomes in 1,889 counties. America’s 25 Richest Counties [Forbes]

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Hot new Marin homes for March

Friday, March 5th, 2010

We track all Marin real estate listings and feature the hottest new properties on the market in Marin County. Here’s the top Marin homes for sale.

$1,095,000
Corte Madera, CA
3 beds, 2 baths
More Info >>
$1,250,000
Greenbrae, CA
3 beds, 2 baths
More Info >>
$1,395,000
Mill Valley, CA
4 beds, 3 baths
More Info >>
$1,420,000
San Rafael, CA
3 beds, 3 baths
More Info >>
$1,595,000
Sausalito, CA
3 beds, 2.5 baths
More Info >>

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Market Report | February 2010

Thursday, March 4th, 2010

Home prices in Marin take a step back in February, while the number of homes sold continues it’s push forward in a big way.

The average price of a single-family home in Marin decreased for the first time in 3 months last period. In February, the average price came in at $1,001,703, down 7.23 percent from the previous month. Still, February’s average price marks an impressive 25 percent increase from a year ago, and the number of homes sold was up a whopping 66 percent during the same period.

The recent improvements in the Marin housing market are very encouraging, and we expect this trend to continue in the long-term. However, as inventory continues to build over the next several months, we may see some downward pressure on home prices. The stats for February seem to confirm our growing suspicion, at least for the moment, and we will be watching this trend closely.

Area

Average

Sale Price

Median

Sale Price

Total

Sales

Avg.

DOM*
All Marin
$1,001,703
$780,000
103
114
Belvedere
 $3,440,000
$3,440,000
2
209
Corte Madera
 $805,000
$800,000
3
108
Fairfax
 $584,000
$595,000
3
152
Greenbrae
 $1,935,000
$2,145,000
3
119
Kentfield
 $1,795,000
$1,925,000
3
127
Larkspur
 $1,083,000
$1,083,000
2
55
Mill Valley
$1,552,422
$1,415,000
16
102
Novato
 $630,882
$531,500
 24
132
Ross
 $2,197,500
$2,197,500
1
16
San Anselmo
$696,600
$722,500
8
68
San Rafael
$759,506
$652,950
24
100
Sausalito
 $895,000
$895,000
1
173
Tiburon
 $1,085,375
$1,050,000
8
155

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