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July Marin County Home Sales Stats

Posted on August 4, 2008 by Ginger Wilcox

July Marin home sales numbers are in and the results are about what I expected.  The number of Marin homes for sale increased by about 10 percent, while the number of homes going into contract was relatively flat from last year.  The number of homes sold was down just fourteen percent.  While sales are still down from last year, the gap between sales of 2007 and 2008 is closing. In June, sales were down 20% from the previous year, so we did see a slight improvement.

July 2007 July 2008 ∆ % ∆
For Sale 1,099 1,219 111 10.10
Under Contract 182 184 2 1.10
Sold 204 176 -28 -13.73

*Statistics pulled from BAREIS MLS. Single Family Residential Only.

Larkspur or Lupine

Posted on by Ginger Wilcox

larkspur

According to Marin 101, the town of Larkspur could have been called Lupine.

The city’s developer, Charles W. Wright was looking for a name for the town he was building.  His wife Georgiana saw a hillside covered in blue flowers and thought they were Larkspur, a flower she remembered from England.  The flowers were actually native Lupine.

The other option was Graystone, a local rock.  Thankfully Larkspur won out!

Image courtesy of Buttersweet

Pacific Union Marin County Green Efforts

Posted on July 30, 2008 by Ginger Wilcox

pacunion I am very excited to report that my office’s efforts to go green are working.  Pacific Union has reduced it’s garbage by more than 50% over the last couple of months.  The reduction is due in large part to the elimination of paper plates,  napkins, plastic cutlery, and plastic bottles. 

We now use recycled copy paper, and I often find paper being reused.  I truly appreciate the efforts of our green police, although the motion sensors on the lights can be a little disturbing, especially if the lights go off and you get caught chatting with someone in the kitchen in the dark!

Way to go green, Pacific Union Marin! 

How is the Marin Real Estate Market?

Posted on by Ginger Wilcox

When will the real estate market rebound?

I get this question daily along with the “other” question “how is the Marin real estate market?”

How do I answer that question? Well- the Marin real estate market is unbelievable. One word can actually sum it up- Unbelievable!

Marin has lots of micro-markets. It is hard to make sweeping statements about our real estate marketplace in Marin. What is happening in one Marin neighborhood, may be completely different than another –not too far away. One home gets multiple offers, 3 blocks away another Marin home is languishing on the market. Unbelievable!

As always, location, schools, price range and condition continue to drive our market. I feel like I say this 100 times a month and many people just aren’t listening- a home has to be in tip top shape to garner immediate attention. This means staging, staging, and staging. It also means a fresh coat of paint in most situations, fresh plants (curb is appeal can make you or break you)

Avram Goldman, President and CEO of Pacific Union GMAC Real Estate says this in July 20th The Goldman Report:

When will the market rebound? That is the million dollar question. A recent article in CNNMoney.com by Amanda Gengler explored this topic. Amanda asked a number of experts as to what are the signs of a rebounding market.

The indicators were:

  1. positive job growth
  2. a shrinking housing stock
  3. shrinking number of days on the market
  4. prices falling at a slower pace
  5. a shrinking ratio of housing prices to rents
  6. a rising housing affordability index (an increasing number of buyers that can afford to buy a home).

At this point our market has 3 of the indicators mentioned—our housing stock has declined significantly since the beginning of the year—the affordability index has been increasing since the end of last year—and finally the pace of falling home prices has been diminishing. When the other two factors kick in we will be headed for the rebound that Amanda discusses. One final note, it was pointed out that real estate is a local game. According to the National Assn. of Realtors median prices for existing single family homes was actually higher than a year ago in a third of the country’s metro areas.

The same variations exist here in our own market. One size does not fit all.

One size truly does not fit with regards to Marin real estate. If you are considering selling your Marin home, talk to a Marin County real estate expert who can help guide you through the process. Preparation is everything! If you are thinking about purchasing a Marin home, this is an incredible opportunity to find a home. Consult a qualified Marin real estate agent who can assist you in getting the best deal available!

Marin Home Buyers To Receive Little Benefit From New Tax Act

Posted on July 28, 2008 by Ginger Wilcox

The Foreclosure Prevention Act recently passed by Congress (and expected to be signed soon by the President) does not appear to offer much benefit to Marin home buyers and Marin homeowners.

Among the highlights of the Act is the First-Time Home Buyer Tax Credit. This “credit” is essentially an interest-free loan to first-time buyers (buyers with no ownership in a principal residence during a 3 year period prior to purchasing a new home) up to $7,500.

The limitation (certain to impact many Marin home buyers) is that the credit begins to phase out for taxpayers with adjusted gross income in excess of $75,000 ($150,000 in the case of a married filing joint return). The “credit” received by the taxpayer is then generally required to be repaid over the following 15 years as an interest free loan.

Reduced Home Sale Exclusion Allowance

Among the negatives of the Act (also referred to as revenue raisers) is the reduced home sale exclusion for periods that a home was not used as a principal residence. This provision would limit the availability of the gain exclusion of up to $250,000 ($500,000 for married filing joint return) for homes used as vacation homes or rental properties after January 1, 2009. Under the current law, taxpayers can convert their vacation home or rental property to a principal residence and use the gain exclusion law if they meet the 2 of 5 year use and ownership requirements (one caveat for gain from former rental properties is that previously taken depreciation is generally recaptured and subject to a federal tax of up to 25%).

While the new Act may not benefit Marin homeowners, hopefully it will go toward improving slumping home sales in other parts of the country.

Greenbrae Surprise for Burgers and Fries

Posted on July 26, 2008 by Ginger Wilcox

FifisDinerGreenbrae

Looking for a great burger and fries in Marin? Fifi’s Diner in Greenbrae’s Bon Air Shopping Center is a great little find. The tiny restaurant is located near Peet’s Coffee and Mollie Stones in the Bon Air Shopping Center. I first started going there for frozen yogurt but soon found that it is a great spot for a burgers, chicken and even a great caesar salad. I have been told breakfast is excellent too.

The atmosphere is very casual and kid friendly. Seating inside is limited but there are ample tables and chairs outside- a great spot for lunch on a sunny day in Greenbrae! This is definitely a great neighborhood spot in Marin for casual fare.

This isn’t a healthy stop (more of a greasy spoon type place), but it sure tastes good!

Try it out:

Fifi’s Diner
284 Bon Air Shopping Center
Greenbrae, California
415-461-3247

Marin High School Drop Out Rate Lowest in State

Posted on July 18, 2008 by Ginger Wilcox

Digital Image by Sean Locke<br /> Digital Planet Design<br /> www.digitalplanetdesign.com Well this is good news… According to the Marin IJ, Marin County has the lowest high school drop out rate in the State of California. The state average is 24.2 percent compared to Marin’s 6.9 percent. I firmly believe the strong school systems in Marin are a key factor for the relative stability in the Marin County housing market.

We often hear a lot about the quality of education in Marin elementary schools and Marin middle schools, but it is nice to know it continues on through high school!

SF Ferry Outing for Kids

Posted on July 15, 2008 by Ginger Wilcox

IMG_1674 A reader emailed me yesterday asking for a suggestion of something fun to do with kids visiting from outside of Marin County.  The kids ranged from 9 to 13. 

I suggested catching the Larkspur Ferry and taking it to the SF Ferry building.  It is a fun TaylorsRefreshersplace to explore.  Follow your explorations with dinner at Taylor’s Refreshers– think yummy milk shakes, burgers, etc. (I personally love their sweet potato fries- YUM!)  It is not your average burger joint- the menu features a wide variety of choices and adult beverages as well. 

If you wanted to go further in to San Francisco, you can easily catch the trolley just outside the ferry building and head over to Pier 39 and Fisherman’s Wharf.  

SanFranciscoTrolleyCarThis adventure is great for kids of all ages and is really good at any time of day as well.   The Ferry Building features a farmer’s market on Tuesdays ( 10am-2pm) and Saturdays (8am-2pm) as well.

Simple, inexpensive and fun (even for Marin locals!)

Marin “Best Place to Raise a Family”

Posted on July 14, 2008 by Ginger Wilcox

MarinFamily Marin County makes the list of “America’s Best Places to Raise A Family” according to a June 30, 2008 article on www.forbes.com. Marin ranked #15 on the list of 20 best places.

Forbes used 10 data points for their ranking. Among the areas under consideration were education, housing, cost of living, crime, air quality and commute time.

As indicated in the article, the “rankings are skewed toward counties with good school districts.” This move certainly worked in Marin’s favor given the strong performance of our school system. The consideration of low crime, air quality (this summer excluded) and commute times were also likely favorable considerations for Marin.

Not in Marin’s favor was the cost of housing / living. The article cited a median home price of $901,900 as the most expensive on the list.

In case you needed it, the Forbes article is further confirmation of why people continue to move here. Despite the high cost of housing, people find value in the school system and quality of life. It is for these reasons that Marin’s home prices have held up so well in these difficult times for our nation’s housing market.