Archive for January, 2012

Mortgage rates jump reversing 3 week trend

Thursday, January 26th, 2012

Fixed mortgage rates climb as the housing market ended 2011 on a high note. Still, this marks the eighth consecutive week 30-year below 4 percent.

Freddie Mac today released the results of its Primary Mortgage Market Survey in which the 30-year fixed-rate mortgage (FRM) averaged 3.98 percent with an average 0.7 point for the week ending January 26, 2012, down from last week when it averaged 3.88 percent. Last year at this time, the 30-year FRM averaged 4.8 percent.

Frank Nothaft, vice president and chief economist at Freddie Mac, reports, “Fixed mortgage rates ticked up this week as the housing market ended 2011 on a high note. New construction of one-family homes rose 4.4 percent in December to an annualized rate of 470,000, the most since April 2010. Existing home sales increased 5.0 percent at the end of the year to 4.61 million houses, the largest amount since May 2010. Furthermore, pending home sales in November and December averaged the highest reading since the March and April 2010 period.”

Mortgage Rates 1-26-12
Primary Mortgage Market Survey [Freddie Mac]

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New $45 million waterfront Belvedere home

Wednesday, January 18th, 2012

The site of 41st Marin Designer Showcase, this world-class Belvedere estate on a rare 1+ acre waterfront lot is one of the finest homes in Northern California.

$45,000,000

425 Belvedere Ave

Belvedere, CA

7 beds, 11 baths

15500 sf, 2012 year

More Info >>

New world-class Belvedere estate on rare 1+ acre waterfront lot. Panoramic views of SF, GG Bridge, Sausalito & Bay Bridge. Aprox. 15,500 sq. ft. with 7 bedrooms, 9 full & 2 half baths, pool, spa, sauna, steam room, gym, magnificent terraces, gourmet kitchen, wine cellar, luxurious master suite, theater, office, elevator.

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Priciest property in Marin for 2011

Tuesday, January 10th, 2012

The sale of this 9,000 sq. ft. exceptional Ross estate for $13.5 million in October set the benchmark in 2011 for the highest Marin home sale for the year.

$13,500,000
104 Laurel Grove
Ross, CA

6 beds, 5.5 baths
8665 sf, 1987 year

One of Marin’s most breathtaking estates, with nearly 9,000 sq. ft. of masterfully designed interiors on over 2.2 acres of park-like grounds and level lawns. Beautiful and grand, with formal living & dining rooms, stunning kitchen/family room w/ 2 separate office areas. Top-floor master suite with 2 huge closets and lavish marble bath. Exquisite outdoor living w/ pool, enormous lawn and turf sports field.

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Marin home prices up in December

Wednesday, January 4th, 2012

Marin home prices last month rose 3 percent over the previous, home sales shrank a notable 13.5 percent during the same period.

Prices of single-family homes were up 3.1 percent in December compared with November, according to BAREIS MLS® – the Marin MLS provider. Of the 13 cities we track, eight posted increases, with an average home price of $951,328. Corte Madera, Fairfax and Tiburon posted the biggest monthly increases. The pace of home sales for December was down 13.5 percent, 141 vs. 163 in November.

Marin home prices were down 2.3 percent in December compared with last year, $951,328 vs. $973,910 in December 2010. During the same period, the pace of Marin home sales was down 10 percent, 141 last month vs. 157 in 2010.

Area

Average

Sale Price

Median

Sale Price

Total

Sales

Avg.

DOM
All Marin
 $951,328
$675,000
141
99
Belvedere
 $2,910,833
$3,652,500
3
144
Corte Madera
 $1,002,188
$970,000
8
90
Fairfax
 $735,000
$586,750
4
120
Greenbrae
 $796,000
$796,000
1
115
Kentfield
 $1,368,750
$1,497,500
4
59
Larkspur
 N/A
N/A
0
N/A
Mill Valley
 $1,196,800
$818,000
18
97
Novato
 $588,137
$512,000
 35
95
Ross
 $425,000
$425,000
1
33
San Anselmo
 $814,584
$725,000
13
93
San Rafael
 $668,194
$637,000
33
97
Sausalito
 $1,483,200
$1,825,000
5
105
Tiburon
 $2,117,143
$1,800,000
7
143

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