Bay Area California Real Estate Blog and News

15 Vallejo Wy, San Rafael - Another Eichler Sold!

I just assisted one of my buyer clients in the purchase of this mid-century modern Eichler-built home at 15 Vallejo Way in San Rafael.    Listed for sale at $799,000, I helped my Eichler buyers purchase 15 Vallejo Wy for $755,000.

Built in 1961, this 1,741 sq ft Eichler home featured 4 bedrooms / 2 bathrooms, an updated kitchen with newer appliances, remodeled bathrooms, newer flooring, newer paint, sheetrock,  infloor radiant heat with copper pipes, and garage parking + carport.  The home also had a swimming pool and a relaxing private yard with views of the surrounding hills. 

I enjoyed working with my clients on the purchase of an Eichler listing in Marin County and would welcome the opportunity...

SOLD! 208 Sausalito Street in Corte Madera

corte madera home sold by marin modern

My listing located at 208 Sausalito Street in the Chapman Park neighbohood of Corte Madera just closed escrow today.    I listed, staged, aggressively pre-marketed and marketed this listing both online and offline and was able to sell the home in just 7 days for 100% of the original asking price.

This split-level, California style bungalow featured 2 Bedroom / 2 Bathroom, an updated kitchen / bathrooms / lighting, hardwood flooring, a Finlandia sauna, lush landscaping, and 1 car garage parking.  964 square feet per tax records.   Excellent location with close proximity to shopping, public transportation, nearby parks, and more.     Listed and sold for $715,000.

I enjoyed...

Listed & SOLD! Original Eichler Home in San Rafael

Eichler home sold by Marin Modern Realty

My uber-original Eichler listing at 8 Anchorage Court in San Rafael just closed escrow today.   I listed, aggressively marketed, and sold this fabulous Marin Eichler home in just 6 days!   

Located at 8 Anchorage Ct in the Terra Linda neighborhood of San Rafael, this was an incredibly original and well-preserved atrium-model Eichler home.  Property features included 4 bedrooms, 2 bathrooms, remodeled kitchen with new appliances, updated VCT tile flooring, a large private and light-filled atrium, custom track-mounted shoji screen window coverings, a built-in George Nelson wall unit and bookcase system, and a private and spacious backyard which backed up to open space.    ...

Lowest Rates Ever!

I generally avoid writing about interest rates as they tend to be even more transitory than the constantly shifting lending guidelines we’re forced to deal with. Whereas investor guidelines may change on a weekly basis, mortgage interest rates can make dramatic shifts on any given day. My focus when building a file is therefore directed toward the more tangible elements that support a loan – qualifying income, credit scores, likely loan-to-value ratios, and matching the borrower to the best-suited lender. While there is no sure way to guess when and where the lowest rate will be found, especially with a purchase transaction’s compressed timeline, careful positioning of a loan package is the best way to insure a favorable outcome.

That said, sometimes mortgage rates take such remarkable turns (either upward or downward) that one must take stock. Over the past couple of weeks, we have seen the lowest rates in history and those in the process of refinancing or moving forward with purchases may find...

Marin Eichler Homes Update - Summer 2010

With the first 6 months of 2010 behind us, I wanted to provide our clients, friends and  visitors with a mid-year Eichler real estate update for Marin County.

From January 1 - June 30th, a total of 25 Eichler homes have sold in Marin County. In the second quarter of this year, 12 Eichler homes were sold and I’m proud to say that I was personally responsible for more than 40% of all Eichler Home Sales in Marin during the second quarter of 2010 (representing either sellers or buyers).    Additionally, my Eichler listings sold for more than 99% of their original list price in just 32 days on average whereas Eichler homes that were not listed by me took more than twice as long to sell (80 days on average) and only sold for 96.1% of their original asking price.

Taking a closer look...

2010 Marin Residential Real Estate Market Update

Looking at the entire county's performance, we saw the sharpest decline in home values over the last 5 years from 2008-2009.  With the new Obama administration taking the helm, banks going under, job losses, short sales and foreclosures at abundant levels, and global market concerns, consumers pulled back from the market and the values took a sharp decline. The average sales price of a home in Marin in 2008 was $1,075,509 and in 2009 the average sales price dropped to $853,390. 

With values declining by 21%, interest rates hovering at an all time low and government incentives for first time home buyers, consumers were starting to feel like we were close to hitting the bottom of the market. Because of these events, we are starting to see some improvements in the market at different price points and categories. Numbers show that year to date, the average sales price for a home in Marin is $914,065. That is a 7% increase from the year before!  That's great news if you plan on selling your home this year.

Of course, value...

A Unique Mortgage Offers Flexibility For Strong Borrowers

A unique mortgage type that came to the U.S. market just a few years ago is gaining popularity and can offer significant advantages for borrowers with good cash flow and savings. Sometimes referred to as an “offset account” it operates as a first lien, equity line of credit that is joined to a full service checking account. Variations of this loan have been some of the more popular home financing options in the UK and Australia for many years, so it has a proven track record. However, don’t expect major U.S. banks to follow suit anytime soon as it would cut into their profits. For now, they offer offset loans only to their largest depositors.

This mortgage, marketed by just a few banks (including CMG as the Homeowner Accelerator or HOA), essentially marries a borrower’s mortgage to their checking account and can greatly reduce the compound interest one would pay on a conventional mortgage. Borrowers are encouraged to deposit their salaries and any other income sources into the account in order to...