As the market changes are contingent offers back? I just completed two transactions that involved 3 parties,3 buyers and 3 sales. Two buyers had to sell their current homes to purchase their new home. A year ago this transaction would most likely not have been possible but we seem to be in a changing market. Not necessarily from a sellers market to a buyers market but definitely moving away from the strong sellers market, with crazy low inventory, that we have been experiencing the past several years. We are in a more balanced market.
I helped my clients purchase their home 4 years when they had a new baby. Now expecting their second child and with a parent living with them as a childcare giver, they are busting out of their 1241 square foot home. Like...
Monday, December 10 is the last day to pay the first installment of the 2018-2019 Marin County property taxes. Payments after that date will incur a penalty. Property owners can pay in person at the Marin County Tax Collector's office which is located at 3501 Civic Center Drive, room 202, San Rafael. They are open M-F 9:00am-4:30pm. Alternatively, payment can be mailed to Marin County Tax Collector, PO Box 4220, San Rafael, CA 94913-4220 but must be postmarked by December 10. It would be wise to get a postal receipt such as proof of mailing, or certified. Another option is to ...
According to statistics compiled from the Bareis MLS , there were 1937 sales of single family homes and condos in Marin County for the 1st 9 months of 2018. This compares with 1995 units sold in the same period of 2017, a decrease of 58 units or 2.9%. These statistics would seem to indicate that Marin County is performing better than much of the rest of the state. According to a November 12 blog post by CoreLogic, an Irvine, CA-based real estate information service, statewide sales of existing single family homes and condos in September were down 17.2% from the same period a year ago. The report said this was the largest year-over-year decline "for any month in nearly eight years". The CoreLogic report also notes that in September the statewide median price of a home (condos and Single...
What is a Preliminary Title Report?
A preliminary title report is issued prior to the transfer of title and details the conditions in which the title company will issue a title insurance policy.
Listing agents typically pre-open escrow so they can include a preliminary title report with the disclosure packet and see if there are any issues with the title that need to be cleared up.
A preliminary title report sets forth various details about a piece of real estate, including:
- Liens and encumbrances; including property taxes paid and owed
The preliminary title search gathers the information from the county assessors office...
The Long-running sellers' market for Marin real estate continues! It is relatively easy and quick to sell, but the process of buying can be longer and more difficult. That's because there's a shortage of inventory of homes for sale. This week, the MLS shows 469 listings for single family homes and condos. 204 of them, or 43%, are in contract. Currently, 45% of homes sold in November were on the market for 30 days or less, and an additional 35% sold in 60 days or less. That's a pretty fast-moving market!
If you're moving and have a home to sell, there are choices to make.The easiest way to go, by far, is to buy first, get your new home ready, then move and sell your current home vacant and staged. So, if you have plenty of funds to buy your new home without selling first, you are good to go. Most people though, even in Marin,...
Two Things First Time Home Buyers Need to Know
Buyers entering the real estate market are more savvy today than ever before. Prior to the internet age, buyers relied heavily on their Realtor to feed them information and listings and wouldn’t even begin their search until meeting with and committing to a Realtor. Now, at least 90% of buyers start their search online, research the process and properties for months, often years before calling a Realtor.
In this new age of information, we as Realtors need to work even harder to find and maintain buyer clients and we do this by providing value and insight into the process. We offer our knowledge of the specific cities and neighborhoods in our market, inside scoop on upcoming listings, and our connection and relationship with other agents.
Even though first time buyers, or buyers re-entering the market, have an endless supply of information and knowledge about the...
Listing Status Terms Defined
You have been searching properties on the internet for months and now you are ready to jump in and start a serious search for your new home. The properties that fit your criteria and budget have various status notes on them that keep changing and some properties disappear from the searches all together. What does all this mean?
Most common Status
- Contingent – show
- Contingent – No show
- BOM – back on...
2016 – Best Year Ever…AGAIN
Median prices – UP, Average prices – UP. The Marin real estate market remains as strong as ever.
Outlook for 2017
When is a Good Time to Buy?
The average home price in Marin in 1965 was $30,710. In 2000 it was $722,800, and last year it was nearly $1,200,000. In fact, in the last 51 years there have only been 3 years where the average price decreased. So, the answer is simple as soon as you can.
Reasons to Buy Soon:
1. High Rents
2. Very low interest rates
3. Tax Benefits
5. Pride of Ownership
If you are considering buying a home in 2017, be sure to register to attend our ...
September, with its 2.7 month supply of housing inventory, briefly offered us some hope of easing the shortage of homes for sale in Marin County. But October's final tally finds us back at a 1.7 month supply of homes in the Marin County housing market, continuing the shortage we have been used to seeing for quite some time now.
Number of Days on Market remained fairly stable, at 51 days for October, vs. 49 days in October of 2015, but new listings during the month were only 120 compared to 170 last year in the period, a 30% decrease. Sales prices were, on average, 100% of the list price at the time the transaction went into contract, and 98% of original list price, recognizing the fact that some listings had price reductions during the listing period. Only 161 Homes sold in October compared to 205 in 2015 and, at...
This conforming loan product is specially tailored to support
young doctors who've recently entered the work force and who are looking
to purchase a new home. As you know, one common thread linking most
fledgling doctors is a mountain of student debt. This debt is often on
deferment for a number of years in order to help newly employed doctors establish
their careers. Unfortunately, standard conforming guidelines mandate that even
future, deferred payments be included in all debt ratios. If
documentation is not available to outline what the future payment will be,
standard guidelines hit the borrower with a monthly payment equal to 1% of the
outstanding student loan balance. On $200,000 of student loans, this would
amount to an additional $2000 monthly payment being factored into the
borrower's debt payments, making it extremely difficult for...