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Home loveMarin County, people, places, culture and real-estate

Foreclosure Report, California – February 2010

Posted on March 19, 2010 by Ginger Wilcox

Foreclosure Radar released the February 2010 California Foreclosure Report today.  The report had some interesting data.  Highlights of the report:

  • Notice of Default’s were up 20% in February after 4 months of declines.  This is to be expected based on rise in delinquencies.  Despite the increase, they are down year over year almost 40%
  • Foreclosures are down.  There was a 14.34% decrease in the number of properties going back to the bank at the courthouse steps.  The number of foreclosures going to 3rd party investors at the court house steps was also down 2.72%.  These numbers are very low based on the number of delinquencies.
  • Foreclosure cancellations remains flat because loan modifications are not happening- “hamp has failed”.
  • Bank owned inventory (REO’s) are up even with foreclosures down because resales are slow

Check out the full report below:

Junior League of San Francisco Fashion Show- Through the Looking Glass

Posted on March 18, 2010 by Ginger Wilcox

Exploring By the Bay

The 84th Annual Junior League of San Francisco Fashion Show takes place this weekend.  Tickets are still available for this awesome event that has raised millions of dollars for Bay Area community programs like Compass Community Services, the International Rescue Committee, San Francisco Child Abuse Prevention Center and Support for Families of Children with Disabilities. It is the largest event of its kind in the nation.  The show is professionally produced in partnership with Macy’s.

I was fortunate enough to model in the program last year and have been a volunteer on numerous occasions.   What an experience it is to be behind the scenes!  Hundreds of volunteers dedicate a huge amount of time to put on this truly spectacular event.  It is well worth the price of admission and benefits many worthwhile community programs.

  • When: Friday, March 19, 2010

    Champagne Luncheon
    Silent Auction Reception 10:30 AM
    Luncheon and Live Auction 12:30 PM
    Fashion Show 1:15 PM

    Black-Tie Dinner Gala
    Silent Auction Reception 6:00 PM
 Dinner and Live Auction 8:00 PM
    Fashion Show and Dancing 9:00 PM
  • Where: The Fairmont Hotel, San Francisco, 950 Mason Street at California
  • More Info
  • Purchase Tickets
  • Junior League of San Francisco’s Mission Statement: The Junior League of San Francisco, Inc. is an organization of women committed to promoting voluntarism, developing the potential of women, and improving communities through the effective action and leadership of trained volunteers. Its purpose is exclusively educational and charitable.

What can I expect?  I found this video on YouTube.  It is from an old show.  Each year has a different theme and feel, but the video gives you a great idea of the event. Enjoy!

The Federal Reserve Statement- A Simple Explanation Of (March 16, 2010 Edition)

Posted on March 16, 2010 by Ginger Wilcox

Putting the FOMC statement in plain EnglishToday, the Federal Open Market Committee voted 9-to-1 to leave the Fed Funds Rate unchanged, in its target range of 0.000-0.250 percent.

In its press release, the FOMC noted that the U.S. economy “has continued to strengthen” and that the jobs markets “is stabilizing”.  It also said that business spending has “has risen significantly”.

This is a slight departure from the Fed’s January statement in which housing was not mentioned and business spending was said to be “picking up”.

It’s also the sixth straight statement from the FOMC in which the Fed described the economy with optimism.  This is a signal to markets that 2008-2009 recession is over and that economic growth is returning.

The economy is not without threats, however, and the Fed identified several:

  1. High unemployment threatens consumer spending
  2. Housing starts are at a “depressed level”
  3. Consumer credit remains tight

The message’s overall tone, however, remained positive and inflation is within tolerance limits

Also in its statement, the Fed confirmed its plan to hold the Fed Funds Rate near zero percent “for an extended period” and to end its $1.25 trillion commitment to the mortgage market by March 31, 2010. Fed insiders estimate that the bond-buying program lowered mortgage rates by 1 percent since its start.

Mortgage market reaction to the Fed press release is, in general, ambivalent. Mortgage rates in Marin are unchanged this afternoon.

The FOMC’s next scheduled meeting is a 2-day affair, April 27-28, 2010.

Vintage Fairfax Bungalow- 59 Cypress, Fairfax

Posted on March 10, 2010 by Ginger Wilcox

New Listing:  59 Cypress, Fairfax $799,000

What We Love:

We love this listing for it’s vintage charm and the great location just minutes from downtown Fairfax and a quick bike ride away from miles of hiking and biking trails, waterfalls and endless open space.

Cool Details:

  • Front Porch- a throwback to yesteryear (We love front porches!)
  • Vintage fireplace with bricks from the San Francisco’s 1906 earthquake
  • Bathrooms renovated to capture that perfect period charm
  • Two separate parcels create a unique opportunity for a new buyer to get creative
  • Great home to entertain family and friends with a spacious deck back opening out to a backyard oasis perfect for entertaining friends and family

All the Specs:

  • 3 bedrooms, 2 baths
  • Hardwood floors
  • Recently remodeled kitchens and bathrooms
  • Sunny double lot with enormous level lawn
  • Entertaining deck
  • 2 car garage
  • Off-street parking for 3+cars
  • Mature fruits trees
  • Tons of storage
  • Finished 3 room basement with laundry room

Visit 59 Cypress, Fairfax:

  • Call Stephen 415-720-7832

Move to one of our favorite Marin towns!

Larkspur’s Famous Magnolia Tree

Posted on March 5, 2010 by Ginger Wilcox

This gorgeous Magnolia Tree sits along Magnolia Avenue in Larkspur, just across from Marin Primary School. The tree is in stunning full bloom right now! The story I have been told is that a dentist lived in the home and in lieu of payment, a gardener client planted the tree. It may have originally been two magnolia trees together.

If you know the real story about this Larkspur beauty, I would love to hear it!

~Ginger

Time to invest in Marin Real Estate?

Posted on March 4, 2010 by Ginger Wilcox


If you are unable to see the video above, please click here


According to the the National Association of Realtors®, “distressed homes” represented nearly 2 of every fifth home sold in January 2010.  Clearly, real estate investors in Marin County and around the country are taking advantage of good deals on inexpensive property.  But there’s risk involved.

This NBC Today Show interview first ran in March 2009, featuring real estate expert Barbara Corcoran. Despite its age, the message remains relevant. Today may be a terrific time to buy a bank-owned home — just make sure you do your research first.  There’s plenty of ways for investors to get burned.

Some of the tips in the video include:

  • Buy in your own backyard
  • Start small, then build to a bigger portfolio
  • Watch receipts — rent rolls don’t matter if tenants aren’t paying rent

Corcoran also gives pointers on how to evaluate a prospective tenant.

Foreclosures may represent a significant number of 2010’s total Marin County home sales and will offer interesting opportunities to bona fide real estate investors.

Remember, the stats and the data are from 12 months ago, but the advice stays meaningful.

Fairfax Real Estate Update- March 2010

Posted on March 3, 2010 by Ginger Wilcox

There are 12 active homes for sale in Fairfax and 10 homes under contact. Six Fairfax homes have sold this year. The average list price for a single family home is $748,120. The average sales price is $747,333. The average days on the market for a Fairfax home sold in 2010 was 157 days. The table below shows the trends for the month of January over December 2010, for 1 year and for 15 months.
1 Month
1 Year
15 Months
Dec
2009
Jan
2010
%
Change
Jan
2009
Jan
2010
%
Change
Nov
2008
Jan
2010
%
Change
For Sale
 10
12
20%
22
 12
-44.5%
30
12
-60%
Sold
8
2
-75%
1
2
100%
2
2
0%
Pended
4
4
0%
3
4
33.3%
5
4
-20%

Fairfax Home Sales Year to Date

  • 35 Azalea Ave $501,000
  • 79 Hillside Drive, $595,000
  • 28 Oak Tree Lane $626,000
  • 4 Spring Lane $656,000

Fairfax Real Estate Market Data effective as of March 2, 2010. Data provided by Bay Area Real Estate Information Services. Are you a Marin real estate junkie? Sign up to receive very detailed real-time market reports in your email. Just register and let me know which neighborhoods you are interested in.

Happy Birthday Fairfax- 79 years!

Posted on March 2, 2010 by Ginger Wilcox

Photo Courtesy of Uzvards on Flickr

Fairfax is one of my favorite Marin communities and today it celebrates it’s 79th Birthday! The Town of Fairfax was incorporated in 1931. Fairfax still retains its eclectic downtown area, features a vibrant local live music scene and is bustling with energy. Simultaneously, Fairfax is one of the prettiest outdoor communities with access to miles upon miles of hiking and biking trails, reservoirs, and more. Just outside the town you will find the Mt. Tamalpais Game Refuge and the Marin Municipal Watershed with thousand of acres of open space land reaching from Mt. Tamalpais to the Bolinas Ridge.

According the 2000 U.S. Census, 7,319 residents live in Fairfax.

Wishing a very happy birthday to the Town of Fairfax, California!

~Ginger

Larkspur Real Estate Market Update

Posted on by Ginger Wilcox

There are 15 active homes for sale in Larkspur and six homes under contact.  Four Larkspur homes have sold this year.  The average list price for a single family home is $1,252,067.  The average Larkspur home has been on the market 100+ days.  The table below shows the trends for the month of January over December 2010, for 1 year and for 15 months.  Keep in mind that Larkspur is a very small community and the statistics are easily skewed because of the small number of homes sold each month and year.
1 Month
1 Year
15 Months
Dec
2009
Jan
2010
%
Change
Jan
2009
Jan
2010
%
Change
Nov
2008
Jan
2010
%
Change
For Sale
12
14
16.7%
24
14
-41.7%
24
14
-41.7%
Sold
4
2
-50%
1
2
100%
1
2
100%
Pended
0
3
n/a
0
3
n/a
o
3
n/a

Larkspur Home Sales Year to Date

  • 34 Diane Lane $628,000
  • 60 Diane Lane $775,000
  • 135 Tulane Drive $975,000
  • 362 Madrone Ave $1,391,000

Notice the price point of homes sold in 2010 in Larkspur.  The lower end of our real estate market continues to move, albeit slower than in the past.

Larkspur Real Estate Market Data effective as of March 1, 2010. Data provided by Bay Area Real Estate Information Services. Are you a Marin real estate junkie? Sign up to receive very detailed real-time market reports in your email. Just register and let me know which neighborhoods you are interested in.