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Marin Real Estate Market Summary – January 2010

Posted on February 8, 2010 by Ginger Wilcox

marin-home-sales-january-2010

The number of homes sold in January 2010 was up 38.7% over January 2009.  86 Marin homes were sold.  Even more positive for the market, the number of homes pending was  up 61% over January 2009, which seems to indicate we will see a very nice boost for February home sales.  The number of homes on the market actually decreased by 22.2% year over year.

Marin County Real Estate Market Summary- January 2010

  • Home for sale- 473
  • Homes sold- 86
  • Median home price – $725,000
  • Average sold price – $1,118,000
  • Average active listing price – $1,947,000
  • Average price per square foot-  $495
  • Lowest priced home sale in Marin – 78 Madrone, Woodacre, $297,500
  • Highest priced home sale in Marin- 1 Upper Road, Ross, $14 million

The data provided is for single-family residential homes.  Interested in receiving regular updates on Marin real estate market statistics? 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.

Belvedere-Hawthorne Nursery Schools Kitchen Tour

Posted on February 4, 2010 by Ginger Wilcox

belvedere-tiburon-kitchen-tourLooking to get a sneak a peak at some of Belvedere and Tiburon’s finest kitchen?  Don’t miss the annual Belvedere-Hawthorne Nursery Schools Kitchen Tour coming up next week.  The tour generally features five to six kitchens, often with gourmet treat along the way.  I am very sad that I will be flying on a plane to Wichita, Kansaas, so I will miss it for the first time in years.  In addition to the tour, there is always a great boutique and a lunch option at the San Francisco Yacht Club.  Transportation is provided between each of the homes.

  • What: Belvedere-Hawthorne Nursery Schools Kitchen Tour
  • When: Tuesday, February 9 , 9:30am – 2pm
  • Tour Tickets: $40 in advance, $45 at the door.
  • Raffle Tickets: $5 each, 6 for $25. Luncheon: $30.
  • More information: www.belvedere-hawthorne.com or (415) 721-3204.

Please go and tell me all about it!

Mill Valley Real Estate Market Update- week of Jan 22, 2010

Posted on January 26, 2010 by Ginger Wilcox

What is happening in the Mill Valley real estate market?  The charts and stat table below reflect single family homes in Mill Valley.

[altos_chart st=”CA” cid=”318″ zid=”527″ rt=”sf” ra=”a,c” q=”a” left=”median_price” size=”m” timeSpan=”e” link=”http://www.blogbythebay.com/marin-real-estate/marin-real-estate/marin-real-estate-market-reports/marin-real-estate-market-reports-sign-up/” endDate = “2010-01-22″ /]

[altos_stat_table st=”CA” cid=”318″ zid=”527″ rt=”sf” format=”narrow” endDate = “2010-01-22″/]

Listing inventory in November and December dropped dramatically as is typical when sellers pull their homes off the market for the holidays.  We have a spike in new inventory as homes come back on the market post holidays.  We expect those numbers to continue to rise as we head into spring.  There are a large number of homes “not on mls” but available to show. As with Tiburon, you will notice a heavy concentration of home sales are under the $1,200,000 price point.

Mill Valley home sales since January 1, 2010

  • 242 Eldridge Ave Mill Valley, CA 94941 $514,800
  • 764 Panoramic Hwy Mill Valley, CA 94941 $612,000
  • 23 Mono Way Mill Valley, CA 94941 $635,000
  • 23 Strawberry Cir Mill Valley, CA 94941 $775,000
  • 220 Julia Ave Mill Valley, CA 94941 $855,000
  • 45 Mountain View Ave Mill Valley, CA 94941 $895,000
  • 89 Alta Vista Ave Mill Valley, CA 94941 $987,000
  • 37 Matilda Ave Mill Valley, CA 94941 $990,000
  • 324 Deertrail Ln Mill Valley, CA 94941 $1,000,000
  • 65 Ethel Ave Mill Valley, CA 94941 $1,010,000
  • 297 Ricardo Rd Mill Valley, CA 94941 $1,150,000
  • 38 Birch St Mill Valley, CA 94941 $1,163,000
  • 137 Sunnyside Ave Mill Valley, CA 94941 $1,813,000
  • 647 Glenwood Ave Mill Valley, CA 94941 $1,875,000
  • 460 Summit Ave Mill Valley, CA 94941 $1,950,000
  • 57 South Knoll Rd Mill Valley, CA 94941 $2,075,000
  • 10 Kite Hill Ln Mill Valley, CA 94941 $2,165,000

Mill Valley Real Estate Market Data effective as of January 22, 2010. Data provided by AltosResearch. 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.

Tiburon Real Estate Market Update- Week of Jan 22, 2010

Posted on by Ginger Wilcox

What is happening in the Tiburon real estate market?  The charts and stat table below reflect real estate activity for single family homes in Tiburon.

[altos_chart st=”CA” cid=”388″ zid=”513″ rt=”sf” ra=”c” q=”a” left=”median_price” size=”m” timeSpan=”e” endDate = “2010-01-22″ /]

[altos_stat_table st=”CA” cid=”388″ zid=”513″ rt=”sf” format=”narrow” endDate = “2010-01-22″/]

Despite the nice pretty chart showing median home list prices increasing, this does not reflect Tiburon closed home sale prices.  At the end of December 2009, the average Tiburon sales price was $1,932,000 versus the average list price of $4,298,000.  As much as I love stats, they are easily skewed with a small number of sales/listings.

There have been two single family home sales in Tiburon year to date.  They are:

  • 136 Geldert, Tiburon, CA for $1,810,000
  • 208 Taylor, TIburon, CA $3,425,000

There was only one home sold in Tiburon in January 2009 and two in February 2009.  Based on the number of homes under contract, the Tiburon market will look much better in February 2010 over last year for closed sales.  The majority of activity continues to take place in the lower end of the market (under $1.3 million).

Tiburon Real Estate Market Data effective as of January 22, 2010. Data provided by AltosResearch. 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.

HUD Suspends 90-day Flipping Rule for FHA Borrowers

Posted on January 15, 2010 by Ginger Wilcox

In continued governments efforts to bolster the housing market, the U.S. Department of Housing and Urban Development suspended the rule that prevents “flipping” of properties for 90 days.  Current FHA guidelines prevent borrowers from obtaining mortgages on a home owned by a seller for less than 90 days.

The policy change will enable vacant properties to be sold and occupied much quicker, reducing vacancies and helping to stabilize neighborhoods where vacant, foreclosed homes sit.  Buyers will  now be able to use FHA financing to purchase bank owned, HUD owned and private resells, expanding the pool of homes available to FHA buyers. The move also has a significant benefit for investors purchasing and reselling bank owned properties.

The waiver takes place on February 1 and will remain in effect for one year.  FHA insured financing is available for home buyers with a loan amount less than $729,750 in Marin County.

Beauty & the Beast Comes Alive for Bay Area Children

Posted on January 13, 2010 by Ginger Wilcox

CTSA-Beauty-and-the-beastOne of my favorite annual events is back and I almost missed it!  The Children’s Theatre Association of San Francisco (CTSA) brings Beauty and the Beast to life for bay area children this month and next.  CTSA is a non-profit organization run entirely by volunteers who dedicate their time to bring live performances to school age children.  During the month of December, CTSA performs for school children, many who would not otherwise have the opportunity to see live theater.  The funds raised from the Saturday paid performances in January and February are used to offset production costs.

  • What: The Tale of the Beauty and the Beast performed by the Children’s Theatre Association of San Francisco.
  • When: Saturdays at 10:30 am and 1:00 pm.  The final performance will be on February 13th.
  • Where: California Palace of the Legion of Honor
  • Tickets: Tickets are $12.00 + $1.80 processing fee for online & telephone orders.  Click here for more information about buying tickets.

This has been an annual tradition that I started with my children.  The actresses are adult volunteers. Don’t be surprised- the program doesn’t have children in it!  The volunteers make the costumes and the set.  It is definitely “home grown” in a delightful way.  The performance are always very sweet and tailored specifically for elementary aged children. I hope you enjoy it!

Marin County’s Most Expensive Home Sales 2009

Posted on January 12, 2010 by Ginger Wilcox

Marin County’s luxury housing market was challenging last year. 128 homes over two million dollars sold in Marin last year compared to 222 in 2008 and 288 in 2007. Despite the economy, some pricey Marin homes were still selling and some special luxury homes were even sold above the listed sales price. Below are Marin’s twenty most expensive home sales for 2009. Click the pins on the map to see the home list price and home sale price or view the complete list in the table below.


View Marin’s Most Expensive Home Sales of 2009 in a larger map

Street Address Listing Price Selling Price
324 Palm Ave Kentfield, CA 94904 $10,500,000 $9,800,000
106 Diablo Dr Kentfield, CA 94904 $9,995,000 $9,200,000
3 Rolling Hills Rd Tiburon, CA 94920 $10,500,000 $9,000,000
140 Antonette Dr Tiburon, CA 94920 $8,500,000 $7,500,000
90 Via Los Altos Tiburon, CA 94920 $6,500,000 $6,500,000
456 Belvedere Ave Belvedere, CA 94920 $7,350,000 $6,250,000
32 Meadow Hill Dr Tiburon, CA 94920 $6,950,000 $5,880,000
9 Acela Dr Tiburon, CA 94920 $5,950,000 $5,500,000
450 Belvedere Ave Belvedere, CA 94920 $6,300,000 $5,400,000
193 Gilmartin Dr Tiburon, CA 94920 $5,995,000 $5,375,000
429 Golden Gate Ave Belvedere, CA 94920 $5,795,000 $5,200,000
16 Edgewater Rd Belvedere, CA 94920 $5,500,000 $5,100,000
8 Sandy Ln Mill Valley, CA 94941 $5,495,000 $5,000,000
11 Fernhill Ave Ross, CA 94957 $4,595,000 $5,000,000
30 Peninsula Rd Belvedere, CA 94920 $5,000,000 $4,900,000
12 Laurel Way Kentfield, CA 94904 $3,650,000 $4,500,000
10 Crest Rd Belvedere, CA 94920 $4,825,000 $4,350,000
125 Woodland Rd Kentfield, CA 94904 $4,495,000 $4,225,000
349 Bay Way San Rafael, CA 94901 $4,500,000 $4,185,000
1 Madrona Ave Belvedere, CA 94920 $4,950,000 $4,100,000

Marin Property Taxes to Decline

Posted on January 9, 2010 by Ginger Wilcox

Good news for Marin homeowners- Marin property taxes will decline this year due to a 0.237 percent drop in the California Consumer Price Index.  The reduction will amount to $2.60 per $100,000 in assessed value.

marin-property-taxThe decline is for the fiscal tax year running from July 2010 through June 2011 and is caused by a decline in the California Consumer Price Index from October 2008 through October 2009. The property tax reduction is mandated by Proposition 13.  According to the Marin IJ, this is the first time since the passage of Proposition 13 in 1978 that the inflation factor has been negative.

What is Prop 13?

Under Proposition 13, the annual real estate tax on a parcel of property is limited to 1% of its assessed value. This “assessed value,” may be increased only by a maximum of 2% per year, until and unless the property undergoes a change in ownership. At the time of the change in ownership the low assessed value may be reassessed to full current market value which will produce a new base year value for the property, but future assessments are likewise restricted to the 2% annual maximum increase of the new base year value.   -Wikipedia

Property can be reassessed when a change in ownership takes place, or when a home is remodeled.  The assessed value can also be reduced if the real estate market declines.  Homeowners in Marin can petition the Marin County Tax assessor to reduce their individual property taxes if their home has declined in value.  The request must be submitted between July 2 and October 31 and is based on the market value as of January 1.

Writing an offer on a short sale

Posted on January 8, 2010 by Ginger Wilcox

If you are buying a home in Marin County, it is fairly common to find yourself writing an offer on a short sale these days.  You may find yourself writing lots of offers.  The process is not for the weak at heart or the impatient.   What you need to know:

What is a short sale? If a home is being sold for below what the current seller owes on the property and the seller does not have other funds to make up the difference at closing, the sale is considered a short sale.

What is an auction sale? After a property owner has been been given a NOD (Notice of Default) a sale date will be set by the lender.  The property will be sold at the court-house steps.  If no one purchases the property at the auction, the property is then owned by the bank and it’s t typically listed for sale through a REALTOR.  Buying property at auction can be a risky process as, you are purchasing that property with any outstanding liens. After a property owner has been been given a NOD (Notice of Default) the lender will file a NOTS (notice of trustee sale) & a sale date will be set by the lender.  The property will be sold at the court-house steps.

How is it different than a foreclosure? A foreclosure is when the seller’s lender has taken back title of the home and is selling it directly.  Often times it’s referred to as a REO sale, which means the bank owns the property. A short sale often occurs when a homeowner attempts to sell the property to avoid foreclosure.

If you are going to write an offer on a Marin County short sale, you need to:

  • Be patient! First you must come to agreement with the seller to buy the home.  The seller’s lender (or lenders, if there is more than one mortgage) then has to approve the sale before you can close. When there is only one mortgage, lender approval typically takes about two months. If there is more than one mortgage with different lenders, it can take four months or longer for the lenders to approve the sale.  Time frames can vary widely based on the lender(s).  Homes with multiple loans on the property are much more difficult to get approved through the short sale process.
  • Get your financing in order. Get preapproved.
  • Be flexible. Lenders like no-contingency offers and flexible closing terms.
  • Don’t give up your right to have inspections.  Homes that are in a short sale position may have deferred maintenance.  It can be difficult to negotiate repairs with a lender.  Keep this in mind when you write your offer.

    • Short sales are becoming much more common in the Marin real estate market.  If you are hiring an agent, make sure to hire someone with short sale experience to help guide you through the process.  An experienced agent will help you research records before you write an offer, aid in the inspection process and follow up regularly with the lender to make sure the process is moving along smooothly.  Short sales require a significant time investment for you and your agent, make sure you choose one willing to do the leg work.

    Recycling your Christmas Tree in Marin

    Posted on December 26, 2009 by Ginger Wilcox

    The stockings are no longer hung by the chimney with care and you may be thinking of disposing that Christmas Tree.  There are lots of options to recycle your tree in Marin, from curbside pickup to drop-off locations. The Marin Hazardous and Solid Waste JPA provides this information about Marin Christmas Tree recycling.

    Marin County Curbside Christmas Tree Collection

    Marin Sanitary Service

    For Larkspur, Greenbrae, Kentfield, Las Gallinas Valley,  Ross, San Anselmo, San Rafael, Fairfax and Ross Valley (Sleepy Hollow and Oak Manor) trees will be collected at the curb on your regular yard waste pickup day during the month of January.  If trees are greater than 6 feet in length, please cut them in half.  Remove all metal stands, plastic tree bags,and ornaments.  Flocked trees will not be accepted.

    Mill Valley Refuse

    For Almonte, Alto, Belvedere, Corte Madera, Mill Valley, Homestead, Strawberry, & Tiburon put trees out on the curb
    on any regular greenwaste collection day, starting the week after New Year’s.  Trees taller than 5 feet in length must be cut in half.  Flocked trees are OK.  All apartment building tenants should contact their manager. They will set up one day for all Christmas tree collection.

    Novato Disposal

    During the week of January 11th customers may place whole trees at the curb the night before their regular collection day. Additionally, trees may be cut to fit inside your yard waste container for collection on your regular service day.  Remove all lights, tinsel ornaments and stands. Flocked trees will not be collected.

    Sausalito/Marin City

    Bay Cities Refuse customers in Sausalito can put trees at the curb on your regular greenwaste pickup day January 4th through 8th or January 18th through 22rd.  Customers in Marin City can put trees at the curb on your regular green waste pickup day January 8th and January 22nd. No metal stands or flocked trees and remove all ornaments.

    Redwood Empire Disposal

    For Bolinas, Forrest Knolls, Inverness, Marshall, Muir Beach, Nicasio, Olema, Point Reyes Station, San Geronimo, Stinson Beach, West Marin and Woodacre cut trees to fit inside your yard waste container. Remove all lights, tinsel ornaments and stands. Flocked trees will not be collected.

    Tamalpais CSD

    Cut trees into pieces no longer than 2 feet in length and 2 feet wide and place trees in your green waste cart on regular green waste collection day for free pick up.  You may also place your tree curbside the week of January 4th – 8th.  After January 8th, there will be a $15.00 fee for tree pickup.

    Marin County Christmas Tree Drop-Off Locations

    Kentfield: January 2nd through 14th, Parking Lot #12 (south of gym), College of Marin

    Larkspur: January 2nd through 14th, Piper Park, 250 Doherty Drive
    January 2nd through 14th, Fire Station, 15 Barry Rd. Niven Park, Drakes Landing Road

    Marinwood: January 2nd through 14th, Marinwood Fire Station, 777 Miller Creek Road.-Fire House. Flocked Trees and trees with wooden stands in place will not be accepted.

    Novato: Take your whole tree to the San Marin High School parking lot December 26-27, January 2-3 and 9-10 from 9 am – 5 pm only. The High School asks for a $5 donation ($10 for flocked trees) which helps fund Safe Grad Night, San Marin’s Safe & Sober Party for graduating seniors. You may schedule a pick-up at your door for a $10 fee ($20 for flocked). Call 899-9223 to schedule an appointment.

    Point Reyes: December 26th-January 12th, 8:00 am-5:00 pm.  4th & B Streets.-Fire House. Flocked Trees and trees with wooden stands in place will not be accepted.

    Ross: January 2nd through 14th, Marin Art & Garden Center (across from fire station).

    San Rafael: Fire Stations January 2nd through 14th:

    • 210 3rd St. (3rd & Union)
    •  Pickleweed Community Center (Canal Area)
    • 3530 Civic Center Dr. (Civic Center)
    • 955 Point San Pedro Road (Glenwood Area)
    • Manuel T. Freitas Parkway & Del Ganado (Scotty’s Market Parking Lot)
    •  Marin Resource Recovery Center During the month of January, 2 trees per customer accepted free of charge.
    (There will be a charge for flocked trees.)

    Sausalito: Trees can be dropped off at the recycling area behind the old
    bus barn on Coloma Street (Old Martin Luther King School
    property) until January 15th.

    Stinson/Bolinas: Trees can be dropped off at Bolinas-Stinson Recovery Park, 25 Olema Bolinas Rd. Monday-Saturday 11am-5pm. No flocked trees, tinsel, ornaments or stands will be accepted.

    Tam CSD: Bring your tree to the Tamalpais Valley Community Center parking lot and leave it next to the mulch piles no later than January 30th.

    Tomales: December 26h-January 12th, 8:00am-5:00pm. 599 Dillon Beach Rd.-Fire House.  Flocked Trees and trees with wooden stands in place will not be accepted.

    Woodacre: December 26th-January 12th, 8:00 am-5:00 pm. 33 Castle Rock Road.-Fire House.  Flocked Trees and trees with wooden stands in place will not be accepted.