Bay Area California Real Estate Blog and News

New Tax Credit Rewards Buyers on First Come First Served Basis

Bay Area homebuyers will be pleased to learn of the new income tax credit signed into law by Governor Schwarzenegger on March 25, 2010. Assembly Bill 183 offers a tax credit of up to $10,000 for approved first-time homebuyers or buyers interested in purchasing a home that has never been occupied. The new credit’s implementation coincides with the existing $8,000 federal tax credit’s pending expiration. The new AB 183 credit is offered to qualified purchases closing between May 1, 2010 and August 1, 2011, on contracts fully ratified no later than December 31, 2010. The expiring federal tax credit applies to contracts signed by April 30 that close no later than June 30, 2010. Lucky buyers with contracts ratified by April 30 and whose escrows close by June 30, 2010 may be eligible for a combined credit of up to $18,000.

AB 183 offers approved first-time homebuyers or buyers of previously never occupied homes a credit of 5% of a purchase price or $10,000, whichever sum...

SOLD! 128 Golden Hinde Blvd in San Rafael - Eichler Home

Today I assisted my clients (both sellers & buyers) on the succesful sale of 128 Golden Hinde Blvd, an updated Eichler home located in San Rafael's Terra Linda Valley neighborhood.     The final sale price was $650,000.

This 3 Bedroom / 2 Bathroom, courtyard-style  Eichler Home (1,380 sq ft per tax records) backed up to open space and featured a number of updates to the bathrooms, kitchen, and flooring.     The home also featured a wonderful and inviting landscaped yard  and courtyard with ample room for both relaxing and entertaining.       Located in the Dixie School District, this home also provides easy access to the newly rennovated Northgate Mall, parks & recreation,...

Marin County Real Estate Update

Looks like Marin Real Estate is doing a bit better than last year.  

Marin home overall sales are up from Feb 2009-Feb 2010 by 37.8%!  The median prices are edging up from $573,409-$615,000.  Single Family Home sales in Marin (Feb 2009-Feb 2010) are up 52.6%! In Feb 2009 there were 76 homes sold and the same time this year (Feb 2010) there were 116 homes sold! This is a nice increase in sales.  The median home price in 2/09 was $640,000 and and in Feb 2010 it went up to $694,500 up 8.5%!  

Condos or townhomes sold in Marin in Feb 2009 to Feb 2010 is up 5.7%.  Median prices have gone down from $275,500 in Feb 2009 to $275,000 this year (Feb 2010) down -0.2%.

Interest rates are still at an historical low, 5% for 30 yr Fixed mortgage rate at the moment.

If you are not sure what your next step is contact me.  I am resourceful and I am happy to guide you through the process.  Spring is here and more properties...

332 Mt Shasta Dr, San Rafael - Eichler Listing Coming this Week!

upper lucas valley eichler home listed by marin modern realty

Home buyers looking for an affordable and move-in ready Eichler home in San Rafael's desirable Upper Lucas Valley neighborhood should run (not walk!) to my most recent Eichler listing which will be hitting the market later this week.

Located at 332 Mt Shasta in San Rafael, this 4 bedroom / 2 bathroom Eichler home is located on a quiet street on an extremely spacious lot (12,160 square feet per tax records).    The home features many original and desirable Eichler design elements as well as a number of thoughtful upgrades which enhance the overall design and function of this classic mid-century modern home in ...

100 Holmes Ave in San Rafael - SOLD!

Earlier today one of my buyer clients closed escrow on a fabulous modern home located at 100 Holmes Avenue in the Northridge neighborhood of San Rafael.      I proudly represented the buyers and the home closed today for $735,000.

Built in 1958, this 3 bedroom / 2 bathroom ranch-style home was extensively remodeled with a modern design theme featuring custom cabinetry in kitchen and throughout the home, stainless steel appliances, open bar-top kitchen eating area, and eco-friendly bamboo floors. 

Centrally located in San Rafael's Northbridge neighborhood, the home is within easy walking distance to schools, Marin Civic Center, the Jewish Community Center, Farmers Market and much more.

Contact me if I can assist you with your ...

Remodel to Sell!

Thinking about selling your home this spring or summer?  Have you thought about the repairs and improvements needed to make your home marketable? Do you know what it would cost? Do you know which improvements will yield you the best return on investment?

First of all, repairs to your home’s deficiencies should be top priority. Why? Because potential buyers will turn away by your homes deferred maintenance or they will discount your home for the deficiencies in their offer to you.  
If you don’t know what your home's deficiencies are, my suggestion is to conduct a home & pest inspection, that will reveal the deficiencies of your home. The reports can be extensive, but not every recommendation for repairs need to be addressed. 
When selling a home I counsel my clients to make the repairs and improvements that make my clients the best return on...

REO Foreclosure Loans and Great Options for Buying with 5% Down

Buyers interested in purchasing foreclosed properties or buying with limited down payment money have two excellent, under-the-radar programs to consider: HomePath and MyCommunityMortgage. Both programs are through Fannie Mae and provide huge advantages over more standard loan offerings.

Fannie Mae HomePath
Bank owned foreclosures, sometimes referred to as REOs or Real Estate Owned properties, are properties that did not sell in the initial foreclosure auction and which reverted back to the original lender or investor. Foreclosures can offer bargain shoppers fantastic deals and, as one of the largest investors in mortgages with millions of foreclosures on its books, Fannie Mae is a great place to begin the hunt.

When Fannie Mae owns the note on a foreclosure, the property is listed on Buyers can search the site by state and county to find current listings for properties, often at rock-bottom prices....

Tam Valley, Mill Valley - Shouldn't be overlooked!

Many homebuyers seek to move to Mill Valley for the family friendly community, highly rated public schools, low crime and great commute location to San Francisco. Mill Valley has a small town feel with over 25 neighborhoods.  So why would buyers discriminate buying a home from neighborhood to neighborhood? Could they be splitting hairs? It’s Mill Valley!! What more could you want in a place to call home.

It’s expensive enough to get into the real estate market in Mill Valley, why would anyone discriminate between neighborhoods? Buyers discriminate for various reasons when looking for a home; status, vibe in the neighborhood, micro-climate, access to amenities and commute.
Should they really be so picky? I can see why someone would want to live in walking distance to town, why people would prefer a slightly warmer climate, but that comes at a premium price. If you can afford the premium price,...

Marin Mortgage Loan Basics

Understanding Home Loans is something that has been a bit confusing for many.  It is something you "should" know about but you might not know.  Well, we all started somewhere didn't we?  Here is a brief synopsis of Home Loans which I hope will help you as you progress thru your search for a Marin home.

There are Conforming, Non-Conforming and Government loans.  The Conforming loans are supported by Fannie Mae (FNMA) and Freddie Mac (FHLMC), and this means that banks can find a ready “buyer” for the loan once it is made to you. This gives banks greater flexibility to approve loans and offer more competitive rates to the consumer. 

Conforming loans will primarily be fixed rate or variable rate loans, so you will have some options.  Non-Conforming loans are usually loans that fall outside of the loan amounts and characteristics supported by FNMA or FHLMC, so oftentimes jumbo loans...

110 College Ave, San Francisco - SOLD!

I'm pleased to announce that one of my buyer clients in San Francisco just closed on 110 College Avenue in San Francisco, California.

Located in San Francisco's Bernal Heights neighborhood, this vintage 5 room 2 level Victorian single family home was held by its owner for many years with many of the original details still intact.   The property featured a huge full basement, rear yard with established fruit trees, and a garage.    

This was a probate sale which required court confirmation and I assisted my buyers in securing the home as the first overbid.   The final sale price was $630,500.

I enjoyed working with my buyers on the purchase of this home in San Francisco and would welcome the opportunity to work with you!   Contact me and let me know how I can assist you with your San Francisco real estate needs!