Every 7 Seconds This Graph Will Change Towns

                                                      
                                            MARK DANFORTH LOMAS 
                         415-789-7777  Frank  Howard Allen Realtors

Marin County Real Estate   "Transparent Real Estate"  Consumer Advocate 2009
                                                                

        

        

Click here for:     Sunday Marin County Online Open Houses 

        

     On June 15, 2009 Phillip Bruce Raful, 21 year resident of Marin and state-certified appraiser, wrote in the Marin Independent Journal:   Tip O'Neill, the late House speaker, once famously said," All politics is local."  The same is true for real estate.
     To understand Marin's real estate values, you need to understand that there is no such thing as a national real estate market.  I'm a long-time real estate appraiser in Marin County, so it surprises me when people ask how much the value of their home has fallen, as oftentimes, the answer is zero, because it depends on the market segment that their home is in.
     The value of your home depends on what it is, where it is, what it's condition is, and what the amenities are compared to other homes in your market segment.  
     For most of Marin, the market is steady and stable.
Click here to read the whole article: Marin Real Estate - Myth vs. Realty

        

Marin Independent Journal Article: Median Home Price Dips

MSNBC: Housing Flashes Signs Recession May Be Ending

MSNBC: Mortgage Rates Fall Back From 7 Month High

        

This listing is "en fuego!"...Red Hot! And, will be open this Sunday  June 21, 2009 from 1-4 pm. For more information about this NEW Sausalito listing call the listing agent, Kirsten Wolfe, at: 415-328-5431  If you're looking for a wonderful home in Southern Marin prepare to fall in love!

        

Luxury Housing Sector in Marin County Looks Up
The real estate slump experienced last year looks like it’s about to take a turn for the better, especially in places like California which bore the brunt of the downturn. Marin County for one is looking up in terms of its luxury home sector, according to a report from real estate service provider Coldwell Banker Residential Brokerage. According to the report:

• There has been an increase in the sale of luxury apartments and houses over the past six months
• Homes that are more than a million dollars are being taken off the market faster now than in the last two years.
• Homes are now closing faster, in under 100 days rather than in under 150 days a few months ago.
• The perception that the housing market cannot get any lower than this and that prices are only going to rise upwards has brought about this renewed interest in home ownership.
• People are realizing that low interest rates are soon going to be a thing of the past and that the buyer’s market may not last much longer; so they’re using the low prices to snap up good homes.
• More and more people are coming to open houses as serious buyers and more sales are being closed than ever before.
• The housing sector is looking up in all cities of Marin County
• Homes are selling for as much as 90 percent of their asking rates, a significant improvement from the 83 percent that was registered a few months ago.

And if you thought these signs of prosperity were being exhibited only by the rich and famous, the overall housing sector in the area is also showing signs of having reached rock bottom. Prices are set to go up again, and now is the time to buy if you’re a first time homeowner.

By-line:

This article is written by Kat Sanders, who regularly post at her blog The Fixer Upper Blog. She welcomes your comments and questions at her email address: katsanders25@gmail.com

        

        

Conforming Loans - Full Doc  (up to $417,000) ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ 30 Year Fixed Rate 5.25% @ 1 point          Payment per $1,000 = $5.522 Rate 5.75% @ 0 point          Payment per $1,000 = $5.836   5 Year ARM Rate 4.38% @ 1 point          Payment per $1,000 = $4.993 Rate 4.88% @ 0 point          Payment per $1,000 - $5.292

High Balance Conforming ($417,001 to $625,500) ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ 30 Year Fixed Rate 5.63% @ 1 point          Payment per $1,000 = $5.757 Rate 6.13% @ 0 point          Payment per $1,000 = $6.076   5/1 ARM Rate 4.88% @ 1 point          Payment per $1,000 = $5.292 Rate 5.50% @ 0 point          Payment per $1,000 = $5.678     Temporary High Balance Conforming ($625,501 to $729,750) ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ 30 Year Fixed Rate 5.88% @ 1 point          Payment per $1,000 = $5.195 Rate 6.50% @ 0 point          Payment per $1,000 = $6.321   5/1 ARM Rate 4.88% @ 1 point          Payment per $1,000 = $5.292 Rate 5.50% @ 0 point          Payment per $1,000 = $5.678

Jumbo (to $5,000,000) ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ 30 Year Fixed Rate 6.50% @ 1 point          Payment per $1,000 = $6.321   3/1 I.O. ARM Rate 4.75% @ 1 point          Payment per $1,000 = $5.217  Rate 5.25% @ 0 point          Payment per $1,000 = $5.522   5/1 I.O. ARM Rate 4.88% @ 1 point          Payment per $1,000 = $5.292 Rate 5.38% @ 0 point          Payment per $1,000 = $5.600   7/1 I.O. ARM Rate 5.50% @ 1 point          Payment per $1,000 = $5.678 Rate 6.00% @ 0 point          Payment per $1,000 = $6.000   10/1 I.O. ARM Rate 5.50% @ 1 point          Payment per $1,000 = $5.678 Rate 6.00% @ 0 point          Payment per $1,000 = $6.000   ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~    Adjustable Rate Mortgage (ARM) rates may adjust to higher rate at the end of their fixed rate period. This is not a loan commitment, nor is it guarantee of any kind. This comparison is based solely on estimated figures and information available at the time of production. Interest rate assumes FICO score of 720 or greater, single family dwelling, owner occupied. California Department of Real Estate - real estate broker license #01111899.

        

        

Link to Article: Marin Home Sales Increase



                                        Search the Marin County MLS
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                 Marin County Sunday Online Open Houses 
                                   Sunday Marin County Online Open Houses 

        

        

     Despite the struggling economy, every month more than 5000 people buy a house in the Bay Area.  What do these people know that others may not?  Are these people investing in a declining market? It appears that despite the economy there are plenty of people who've decided that it is time to buy.  Many of these buyers are bargain hunters that are buying now because they perceive that they're are good deals out there.
     MDA Dataquick analyst Andrew LePage suggest, "that at least two thirds of the market is split between investors and first time buyers.  And, that the balance is mainly people that have to buy because of a new job or other life events."
     Also, many homes here have returned to the realm of reasonable prices, with the median Bay Area home hovering below $300,000.  The Bay Area median price peaked in the spring of 2007 at $720,000.  This reflects a huge shift toward sales in more affordable neighborhoods.
     People who buy homes without planning to live in them remain a steady and increasing force in the market.  While it's difficult to pin down exactly which buyers are investors, one sign is the address to which new property tax bills are sent.  Two years ago, about 10 percent of home buyers had tax bills sent to an address other than the newly purchased house.  By February of this year that was up to 18.7 percent.
     In Marin County, in the last couple of weeks, sales have definitely picked up.  It's taking at least 10 days to get a reputable home inspection company out to a property for inspections where just weeks ago there wasn't any wait.  Is this just a "seasonal" pick  up, or have we stopped bouncing off the bottom?



Sign(s) of the times? A cluster of real estate signs heading onto Belvedere Island Sunday May 17, 2009

(resources for this article are the  S.F.Chronicle and Dataquick Systems)

        

The rumors are that McGuire Real Estate has purchased Vision Real Estate ,and will be making a formal announcement on Wednesday.

        

       Desperation strikes! There's an email circulating around Marin County real estate offices these days from the owners of a local real estate company's owners pointing out the differences between their company and another  real estate company here in Marin.  What appears to be a comparison between the two companies turns out to be an unnecessary hit piece that not only attacks the company, but personally attacks the manager of one of their offices.  One of the owners that's circulating this email is an attorney.  On the face of things one might think the email is just pointing out the differences between the two companies with information that may be factual. How clever. Because, when it's said and done, it's a company trying to build themselves up by putting their competition down, instead of promoting themselves based upon their own merits.

      Has the market ,or this company sunk so low, this company has to resort to these kind of tactics? Why would you even think of promoting yourself by demeaning your competitor? Is this their business model?

      In my 25 years of working as a real estate professional in Marin, I have ever seen this kind of behavior. What are these people thinking?

San Francisco Real Estate Blog Joins the Conversation

        

      For the life of me I cannot figure out why someone would Twitter?  I don't understand the appeal of virtual stalking unless you're a celebrity desperate for attention?  So far, I can't think of anyone other than Hunter S. Thompson that would be interesting enough to be interested in what their doing.  My problem is  Hunter S. Thompson is dead. I'm confused, is Twitter for twits?  
     As professional realtors we're inundated with initiations from social networking sites like Facebook,  LinkedIn,Plaxo,Ning, Twitter,Merchant's Circle and that's just the tip of the iceburg. When is enough, enough?
     To participate on any of these sites takes a lot of time. But, is it time well spent?  These sites have been around for a couple of years now.  Have they lived up to their promises of creating more opportunities for real estate professionals?                    
                                                              

        

Home Loan Financing Returns To Days Of Common Sense (Marin IJ Article)

Rental Rates Drop in Marin County (Marin IJ Article)

The 5 C's in Home Financing have returned.

They are cash flow,capital,character,collateral, and credit score. For more about  how "Common Sense" has returned to real estate financing, check out the link above.

Rates on 30 year mortgages fell slightly last week but remained just ahead of record lows posted this month according to Freddie Mac on Thursday.  Average rates dipped to 4.8 percent from 4.82 the previous week. Last year at this time, the average rate on a 30 year mortgage was 6.03 percent. It has been below 5 percent for 6 straight weeks.

        

   What do Real Estate agents do to earn their commission ? Ever heard that question? Here's a comprehensive and humorous take on that very question from a Home Inspector who's worked closely with Real Estate practitioners.
   "They don't do @*!?&% thing! Why they just stick a sign in the yard and make easy money.  I could do their job any day of the week."
   Well, maybe you could do their job.  But it just won't be any day of the week.  And if you intend to be successful at it (which means satisfying a bunch of clients, mortgage lenders, appraisers, and countless other associates), it will probably be EVERY DAY of the week as well as most nights, weekends, holidays, anniversaries, special occasions, sick days, snow days, and unpaid vacation days.
   Understood, there are Real Estate agents, and then there are good Real Estate agents.  Just like Doctors, Lawyers, and Indian Chiefs.  This article is about the good ones.  The ones who go to work before,during, and after the times mentioned above.
   To serve their clients and stay competitive in their profession, today's Real Estate agent are expected, assumed, requested, required, and or demanded to perform, be knowledgeable of or have access to the following: Information Brokerage Services, Multiple Listing Services, tax rate adviser, appraiser, mortgage lender,financial planner, legal expert, credit counselor, city planner (fortune teller),building inspector, chauffeur, shuttle service, travel agent, tour guide, delivery boy, order taker, public relations expert, therapist,marriage counselor, family doctor, nurse, baby sitter, advertising executive, general contractor, construction estimator and superintendent, and multi-talented subcontractor (not excluding locksmith, yard man, maintenance man, garbage man, plumber, electrician, decoder scientist for alarm systems and programmable thermostats).
   They're often perceived as the bad guy when interest rates go up and the bad guy when your house doesn't sell by 10am the next day.
   It's helpful if their talents include being a diplomat, a negotiator, a referee (similar to those used in Roller Derby and Monday Night Wrestling) and, in general, a walking bureau of information for everything about anything - including whose check is good and whose wife or husband isn't.
   They must know about schools, churches, governments, public utilities, crime rates, world affairs, this weeks jail term for this weeks Environmental Protection Agency violations, future developments that no one has ever dreamed up yet, transportation, shopping, day care, soccer, T-ball,how many termites it takes to eat a house, every homeowners association formed since 12 BC and what kind of fences they don't allow, should you water and fertilize the Bermuda grass before, during, or after mowing, the best place in town to buy pizza, if you can buy beer on Sundays, and at least two dozen other skills and talents that I don't have room to mention.
   So, be nice to your broker/agent.  Next time you start thinking. "They have it so easy", go spend a day with them.  You'll soon realize that, like most of us, they work hard for their money, and your satisfaction really is important to them.



 MARIN COUNTY, CALIFORNIA  * * *  MARK DANFORTH LOMAS * * *
             "Helping Sellers and Buyers in Marin for over 20 years! 
                                  "Transparent Real Estate"
            THE REAL ESTATE SCENE.COM * * * 415-789-7777
                                * * * MDLomas@gmail.com * * *

        

     Recently the local news reported that Realtors in the East Bay had had their real estate lockboxes broken into.  The Realtors they'd interviewed were warning their clients out of concern for their client's protection and safety.  The 800 lb. gorrilla in the real estate industry is slowly coming into focus as the public begins to realize the potential dangers that can occur when listing their homes online.
     Approximately 75% of people who begin their search for properties begin their search online. The most popular of these site at this time is Realtor.com.  What percentage of these people are actually professional criminals?
     Are professional criminals using the Multiple Listing Service to their advantage? The realtor's Multiple Listing Service is  an excellent schematic for robbing houses. All the interior photo shots you could want plus a virtual tour to tell you everything you could want to know about a property.
      So what are Realtors doing to advise their clients to protect themselves, and their properties?  Most real estate companies now use a document to advise people to remove any valuables from their home including drugs.   Is anyone asking why do these real estate companies have you sign off in this regard? Because things happen, and more often then the real estate industry would have you believe. 
     Even Realtors are taking steps to protect themselves at Open Houses, or when they go to meet someone at a property.  For obvious reasons, it would not make sense to explain what these precautions are. 
     For self serving reasons many real estate online services do not want these concerns to rise to the surface which could threaten their very existence.  Yet as the economy continues to suffer, criminal activity seems to be on the rise.  And, what is the National Association of Realtors, the California Association of Realtors, and locally the Marin Association of Realtors doing to help protect the consumer?  
    These associations seem to be at the beck and call of all these large corporate real estate sites that have been exploiting the databases off of Realtor's backs the last 3 to 4 years.   Realtors have been led to believe that the greatest exposure you can create for your client is a good thing. List your home on the local MLS and allow the listing to filter out into every kind of imaginable web site.  And now, the 800 lb. gorrilla enters the room.
    When you go to list your property with a real estate professional ask them what they'll do to market your property.  Ask your professional what are the advantages and disadvantages to listing your property on the internet.  Many will not even know why you've asked this question.  Ask if Zillow's zestimages are always accurate.  Can a disgruntle person post negative comments about your property on Trulia?  How many referal companies that sell leads back to realtors will have your information. Will your real estate  professional put a lock box on your property instead of showing your home themselves whenever a realtor or a realtor with a client wants to see your home.  That's the old business model.  Good for the client, a lot of work for the realtor. Or, just list your property on the MLS and internet, and then what?
     Should real estate professionals fully disclose to their clients the myriad of ways someone with criminal intent can use the various real estate sites on the internet to their advantage, and threaten the well being and safety of their clients? What do you think?

        

APRIL 17, 2009

Low End Drives Marin Market Marin IJ Article April 16, 2009

Mortgage Rates Continue To Fall

Housing Index Post Biggest Jump in 5 Years!

Mortgage Relief Goes To 6 Lenders



ONLINE OPEN HOUSES for APRIL 19, 2009

        

Marin County Real Estate Market Trends

It appears we've been "bouncing off the bottom" for a couple of months now. Investors and first time buyers have realized the opportunities out there.  There appears to be a pick up in property sales in all price ranges the last few weeks. The question is, as we bounce off the bottom, will this market get some lift?  Are the recent sales just seasonal? Or, does this reflect  we've hit the bottom, and are moving forward?

        

        

Frank Howard Allen Ranked Number One by North Bay Business Journal
 
The North Bay Business Journal published its list of top ranking Residential Real Estate Brokerages and once again Frank Howard Allen has ranked number one. The ranking is by sales volume and includes brokerages with offices in Sonoma, Napa and Marin counties.

It's never been more critical when deciding what Real Estate company you should align yourself with.  Times have changed.  Discount brokers are disapearing. Small boutique real estate companies are having trouble keeping their doors open.  A large company here in Marin recently had almost half their agents switch over to a new company here in Marin, that's still trying to figure out how to make inroads into the Marin real estate marketplace.

Frank Howard Allen Realtors is locally owned since 1910, and continues to lead the way in Marin County Real Estate

If you're thinking of buying or selling in today's changing real estate market  please feel free to give me a call. Over 20 years of local experience in this unique marketplace.  Mark Danforth Lomas * 415-789-7777 * MDLomas@gmail.com

        

Marin IJ Article - Protecting the View - Does Not Protect Views

Another misleading article from the Marin Independent Journal that offers false hope by implying that the Town of San Anselmo is considering rules that would help settle homeowners disputes over views. It will not.

If there is a vacant lot or one story home in front of you, chances are, that at no time did  those properties (owners) relinquished their property rights.  And, if the house in front of your view wants to expand their property within their rights, why are newspapers and council people suggesting otherwise? 

Unless you live in a subdivision that clearly spells out  in their CC&Rs (Covenants, Conditions, and Restrictions) height restrictions, or live in an area where such restrictions clearly exist by law, there is no law protecting your views in California at this time.

As people who live in Southern Marin know these "Tree and View Ordinances" set up by various Towns and Cities in Southern Marin are nothing more than guidelines that allows that particular Town or City to not get caught up in these kinds of neighbor disputes. "You got a problem? Here's our "Tree and View Ordinance. Good luck, and good bye!

And if all else fails, and the guidelines are unable to resolve a dispute, the ordinances recommend that you attempt Mediation with your neighbor. And, if that fails, Arbitration. And, if that fails you will need to Litigate. 

A family in Tiburon protested the construction of a second story proposed by the owner of house directly in front of them. The second story would effectively block their views of the bay, San Francisco, and the Golden Gate Bridge over Sausalito.  They were told they had had a "borrowed view" for 29 years.  The Town of Tiburon approved the second story. 

What's really upsetting here is the number of realtors that don't have a grasp on this information.   If you have any questions in this regard you need to talk to an attorney.

        

Mortgae Rates Fall, Set Yet Another Record

        

        

Protect Yourself From the Conficker Worm

Conficker Worm reaches Go Time, to no effect (MSNBC)

Pending Home Sales on Rise in February

        

Mill Valley Real Estate Broker Arrested for Finance Scams From the Marin IJ

Video March 25, 2009 (MSNBC) Realtor, "It's a great time to buy a home!"

        

     Keep an eye on Inman News, and other advocates for large real estate technology corporations.  If you're not familiar with Inman News visit the Inman News real estate web site.   Bradley Inman, once a real estate journalist for the San Francisco Chronicle ,created Inman News which appears to be a real estate web site that tries to cover almost everything and anything about real estate.  Inman News also supports cutting edge technologies that affect the real estate industry.  It  appears that Inman News is an advocate for large internet corporations like Zillow, Trulia, and others.  Just visit one of their Real Estate Connect conferences, and check out all their sponsors.  Is Inman News an advocate for real estate professionals, consumers, or large internet corporations?  
     Realtors really need to keep an eye on Inman News.  While promoting companies like Zillow (at this time technically, Zillow is not a VOW) and Trulia realtors need to ask if these companies really support their clients best interest?  And, more importantly ,do their clients really want any kind of alliance with these companies?
     Upon closer examination, as many realtors have found out, these companies are really a two edge sword that potentially can harm or help their sellers.  A client here in Tiburon, California was upset when he saw Zillow zestimate his house's value at 1.3 million.  The zestimate also provided some public records information that was wrong.  The public records had the properties square footage off by over 10,000 square feet. Angered and frustrated, my client hired a local licensed appraiser that the lenders here in Marin County rely upon, and his formal appraisal came in $700,000 dollars over Zillows? I called the appraiser who said that he could defend this appraisal in court, and that his valuation was actually conservative.  He felt this particular property (mostly flat,waterfront, 280 degree unobstructed views of the Bay Bridge,San Francisco,the GG Bridge, Sausalito through to Mount Tamalpais) would probably sell well over his valuation.  So, if my client put his house on the market, how does Zillow help?
     Trulia, another internet company exploiting access to the MLS database created by realtors, is also supported by Inman News. A big concern with Trulia is that anyone can leave a comment about a property.  And, many of the comments about property listings are questionable.  Some are damaging. Would you want just about anyone gossiping about your new listing, including some neighbor, or someone else with a grudge? 
     Well, good news is on the way.  Litigation has been settled by the National Association of Realtors, the Department of Justice in regards to Virtual Office Websites such as Zillow and Trulia that have been exploiting the data provided by realtors from their local MLS databases.       If you don't want any internet company publishing possibly significantly inaccurate valuations of your home you can choose to opt out.
    If you don't want any internet company putting any kind of comment about your home on their site you can choose to opt out.  
    In  Marin County the MLS database provided by B.A.R.I.E.S is an independent company not affected by this litigation. But, the listing agreement with B.A.R.I.E.S does allow for the seller to opt out of having their home listed on the internet.  Many people have privacy and safety considerations, and should be aware that if they'd like, they can opt out of having their home listed on the web.
   

    

        

On March 21, 2009 George Lucas presented Haskell Wexler with the Tiburon Film Festival's "Lifetime Achievement Award!" Haskell gave George his first big break in the business and the two have been friends ever since.  This is a wonderful warm and loving exchange between two good friends.  Enjoy!

        

The Tiburon International Film Festival comes to town on March 19, 2009 (Opening Night Gala at the Corinthian Yacht Club - tickets still available: 415-789-8854) through March 27, 2009.  Check out their web site at: Tiburon Film Festival



The hottest ticket for the Festival is Saturday night, March 21st, for the film Medium Cool.  George Lucas will be presenting a tribute and the "Lifetime Achievement Award" to Oscar Wining Cinematographer and Director Haskell Wexler before or after the film.

        

Inman News: Reforming Real Estate
Reforms The Real Estate Industry Should Consider, or Not? 

Brighter Light At End Of Housing Tunnel
By Schwab Chief Investment Strategist Liz Sonders

        

        

Bolinas House That's Seen It All! Once a casino, and home for the Jefferson Airplane

Marin Real Estate Sales Down in January 2009 from January 2008

Why Do I Have To Pay My Neighbor's Mortgage?

Obama Unveils 75 Billion Dollar Housing Relief Plan

Man Loses Job Then Wins Marin "Dream House" 


 
Sunrise, as a ship heads out the Golden Gate

 

        

Real Estate Tales From the Front Line!

D-Day Vet's Tale Parallels Mortgage Crisis

White House Closes In On Housing Plan

JP Morgan and Citigroup Haulting Foreclosures

Homebuilder Sentiment Up From Historic Low



Dock of the Bay -  Strawberry / Mill Valley looking out at San Francisco

        

A local newspaper photographer contacted me on February the 19th to share
that there was a dead body on board. The body had been dead for over a week.
February 25, 2009 UPDATE from The Ark Newspaper
The body found was Stephen Joseph Angel, and his next of kin has been notified.
Toxicology reports are Pending

        

        

For more information about this home or a private tour
feel free to contact me at 415-789-7777,
or email me at: MDLomas@gmail.com
And, please leave a "Comment" below to share your thoughts about this kind
of marketing strategy.

Beautiful contemporary Del Mar home offered for $3,600,000.  3 bedrooms, 4 bathrooms,
 3,291 square feet, and built in 2003. Purchase this home and the seller will throw in
a F430 Spider Ferrari.

SF Gate's Take On This Kind Of Marketing (Blog w/comments)

        

        

Mortgage Trends

Rates on 30 year mortgages edged down last week, but remained above 5  percent, Freddie Mac reported last Thursday.  The average rate on a 30 year fixed mortgage dipped to 5.1 percent last week from 5.12 the previous week.  Last year, at this time, the 30 year fixed rate was 5.68 percent.

Mortgage rates have been declining since the Federal Reserve said in late November it would buy up $500 billion in mortgage backed securities to get banks to loan more money in hopes of bolstering the housing market.

Market Update

Yesterday Jim Staats of the Marin Independent Journal reported that Marin's million dollar home sales took a dive last year.  This reflects the number of sales and does not reflect average or median prices.  The Marin Independent Journal real estate headlines for the past few months have been very dramatic and sometimes misleading.  But, over dramatic headlines sell newspaper so...

Here's Jim Staats article:  Marin's Million Dollar Homes


Also in Marin County Real Estate News!

Martha Property Update
On February 4th, 2009 the Ark Newspaper reported on an Enviromental Impact Report hearing at the Tiburon Town Hall on January 27th, 2009.  This hearing drew a large crowd of local residents opposed to development of the Martha Properties. The "Last Chance Committee"  (the local open space preservzation organization) led of the public comments with Joanna Kemper who lives on a neighboring street near the project who suggested that,"If you can roll back other regulations, such as those for affordable housing, to 1976, what if you rolled back the limits on house sizes to 1976?"

Understandably, the neighbors near the Martha Property are upset with the project where they'll have to endure the traffic and construction impacts effects once construction begins.  During the process this will have a negative impact on anyone in and around this area trying to sell their home. Who would want to live next door to a huge construction project?  Curiously, after the project is completed, it will actually raise their property's values (depending, to some degree, on what market conditions are at that time). 

There is also a rumor in town that some residents that currently live in the unincorporated area of Tiburon and near the Martha Property, might try to annex into the incorporated part of town to thwart the Martha Company's efforts.

For more details, pick up a copy of the Ark Newspaper (February 4, 2009)

Marinwood Considers Annexation in San Rafael.  For the whole story click: Marinwood Annexation into San Rafael

        

     A eucalyptus grove's fate is at stake as a trial opens between two combative neighbors in Larkspur. This case involves a decade old dispute between Dr. Anne Wolffe on Bayview Avenue in the Palm Hill neighborhood of Larkspur and her neighbors.   Michael and Joan Mindel and Catherine and Lawrence Way have filed a suit against Wolffe saying that the trees pose a safety threat to them.
     According to the Marin Independent Journal the Mindals have slept in different parts of their home, and have also left their home over concerns that a tree or large limb might fall on their home.  Wolffe was the first of the three parties to move to the area. Wolfee's attorney pointed out that the neighbors had a chance to inspect the propertys that they had purchased, and see what they were moving next to . Also, that the situation is natural and was not created by Wolffe, and that this case is really about property rights.
     The plaintiffs may be fearful, but that fear alone might not  be a reason to cut down these trees. The area is full of trees and Wolffe's attorney said he didn't see how his client's trees presented any more of a hazard than others.
      I'm not familiar with the details of this case, but I am worried that this might open the floodgates for more litigation against anyone that has an issue with a neighbor's tree or trees. If the plaintiff prevails here it will encourage others to file similar lawsuits.
      If you have issues with trees you should not buy a house near trees. Or, if you buy a house, you should do a thorough investigation during your "due diligence" period that would include investigating any trees on your prospective property, or a neighbor's property that could affect your property.  It would seem that these people should sell their house ,and move back to the City.  
     As many of your already know there are tree disputes between neighbors throughout Marin County.  If you are a property owner in Marin County I highly reccomend a book by Nolo Press called Neighbor Law.  I was so impressed by this book I bought a copy for the local police where I live.  And, they not only were impressed, but use the book as a resource.
     Knowing what the law is can help you avoid these kind of disputes which are emotionally exhausting and expensive.  Neighbor Law (Fences,Trees,Boundaries, and Noise) by attorney Cora Jordan 6h edition was published March 2008. I've seen the book retail  from $17.99 (electronic version) to $46.98 (for the hard copy version).Neighbor Law by Cora Jordan   
    Nationally syndicated columnist Robert Bruss wrote: " This is a well written and complete book that is a fun, and an educational read....4 Stars!  Excellent!"

Also in Marin County Real Estate News.   

      

For the whole article click:  Has Marin Real Estate Market Hit Bottom?    More misleading headlines?

        

Keep On Smilin' by Wet Willie
and some of the best Political Cartoons
about the Times we're living in.....

        

(Ariel View of the Martha Properties)

More than two years after a Federal Judge ruled that a 1976 judgement giving the Martha Company the right to build 43 homes or more sites on it's 110 acre Tiburon parcel, the company has submitted a new application to the County of Marin.   The Martha Company is seeking the maximum 43 lots for homes that would range in size from 5,500 to 8,750 square feet on lots of one half acre or larger.

The plan proposes extending Ridge Road and Mountain View Road above Old Tiburon to create 33 lots - three of Mountain View and 30 off Ridge Road - and constructing 10 lots adjacent to a new road to be built off Paradise Drive.

The County of Marin announced in 1997 that it would abide by the 1976 ruling.

The Marin County Community Development Department will hold a Public Meeting on January 29, 2009 at 7pm at the Tiburon Town Hall.  This will give the Public an opportunity to comment on the Project.  The property lies outside the Town limits and is within the County's jurisdiction.

Also in Marin County Real Estate News:
On January 22, 2009 the Marin Independent Journal reported that "Home Prices Dive at End of '08."  The headline is misleading and does not reflect that the overall news for Real Estate sales in 2008 in Marin was not that bad.  Yes, in December of 2008 the numbers were off from this same time in December of 2007, but overall - sales in 2008 was more balanced than this article would have you believe.   And, December of any year typically reflects the slowest month of the year for sales. For the whole story here is the link to the article: 

        

This chart shows the activity of Top Brokers in Marin County.
This chart reflects Market Share in $ volume. 
GMAC here is Pacific Union which was recently sold. 
If you view the Pacific Union vs. Alain Pinel post below
you'll see that Pacific Union is in "transition" right now. 

This chart reflects market share in UNITS SOLD


This Data reflects sales from January 1, 2008 to December 31, 2008

        

You'll love this wonderful Tiburon home's unobstructed views of San Francisco through to the Golden Gate Bride and out to the Pacific.  This home is uniquely situated (backs onto open space) and offers privacy and seclusion, in a very natural and serene setting. Remodeled in 2001 this property offers a state of the art kitchen, Brazillian hardwood floors, 3 bedrooms including Master Suite with fireplace, 3 and 1/2 baths, hot tub, sauna, wraparound decks, and a front row seat to possibly the best views Tiburon has to offer. Offered at: $3,295,000 For more information, or a private tour, contact Mark Lomas at 415-789-7777 or email to MarinRealEstate@gmail.com

        

Yesterday the Marin Independent Journal's headline reported, "Marin Real Estate Scene Has Jolt!"  In a shakeup of the local real estate scene,  more than 60 agents are leaving Pacific Union (Marin's 4th largerst real estate brokerage) for Alain Pinel.

While Avram Goldman, Pacific Union's chief executive, declined to be interviewed ... Steve Dickason, Greenbrae Pacific Union's outgoing manager, " said that he had clashed with upper management at Pacific Union over proposed budget cuts. There was a definite disagreement on what could be done to reduce expenses and retain the agents.  I didn't believe with what was being asked of me to do that I would be able to retain the operation at all. I thought it was too drastic a cut."

For the complete story click :  Marin Independent Journal Article 

        

      At one time Coldwell Banker owned OpenHouse.com but didn't know what to do with it, so they sold it to the Realogy Service Group.  I met with representatives from the Realogy Service Group at the Inman Real Estate Technology conference in San Francisco earlier this year and discussed their web site with them. As you'll see, the site here still has a lot to be desired, in particular Marin County Open House listings:  OpenHouse.com
      So, what's happening with Online Open Houses? And, in particular in Marin County?  Amazingly, a lot of people including Marin Realtors, are unaware that an excellent Online Open House resource is available through the Marin Independent Journal.  Here's the link:  Marin County Online Open Houses
      Curiously, two groups in Marin County are attempting to create their own Online Open House web sites right now.  One, I've been asked to not discuss at this stage in it's development.  I will be happy to discuss this in the near future because this particular entity I have serious reservations about, and how it is proceeding.  Basically, they're recreating what the Marin Independent Journal offers without the same reach the Marin IJ has.  The other company attempting to create an Online Open House web site is CleanOffer.com.  David Faudman, of CleanOffer, gave a demonstration of what they're creating in Greenbrae a couple of weeks ago.  The trouble David said that Cleanoffer is having is that only about 40-50 percent of Marin Realtors list their listings for Sunday Open Houses on the Marin County MLS?  As such, their Online Open House offering is an incomplete resource in this regard at this time.  
     

        

It's no secret. A huge exodus of agents from Pacific Union Real Estate have moved to incoming Alain Pinel Realtors (who currently are negotiating office spaces here in Marin).  On the San Francisco Real Estate Blog there are some amazing comments on this subject.  Check out: Pacific Union "Death Watch"   

Not my choice of verbage but ....

(scroll down once you get to the site to find all these posts and comments!)

I have many friends at Pacific Union and Alain Pinel, and I wish them all well.

        

Novato, A Century of Gentle Seasons, is a new video about the History of Novato.  If you'd like more information on how to acquire  a copy please contact me at: MarinCountyRealEstate@gmail.com

        

     Tough times? This too, will pass.For some, this economy is "the best of times" ; for others, it is "the worst of times."  Wall Street has gone from the "season of light" to the "season of darkness."   In the midst of the current economic uncertainty, there are those who look to future with great trepidation.   For them, it is the "winter of despair."  Others look to the future through the eyes of an optimist.  For them it is the "spring of hope."
     That some people are able to maintain a positive focus and perform admirable and successfully, regardless of the conditions that surround their efforts, has always fascinated me.  Faced with identical circumstances, some people rise to the challenge, tapping into the best of themselves, and achieve what other can't even imagine.  Consider this:  In tough times, 25 percent of businesses fail, 70 percent survive, and 5 percent thrive.
     On a broader scale, some people play the cards they are dealt while other people fold em' and go home.  Some people thrive on the challenge; others wilt in the heart of the battle.  The resilience of the human spirit is nature's way of equipping us with the fuel we need to soar above whatever obstacles we encounter.
     Since 1854, we have experienced 33 economic downturns in the U.S., each lasting about one and one half years, followed by an expansion of about three years.  It seems we've discovered a way to handle these downturns more effectively over the past 60 years.  Since 1948, we have had 10 recessions; the average contraction is 11 months, and the average expansion is four years.  We spend 80 percent of our time in good economic times.  If you work in business long enough, you will experience a downturn.
     What's the point?  Economic nirvana is always followed by economic nervousness that is always followed by nirvana that is always followed by nervousness.  It's a cycle.  The most important thing to know about tough times is that they pass and are replaced by good times.    Businesspeople who wring their hands today will ring their cash registers tomorrow.  Tough times?  This too, will pass.

(This article was written by Tom Reilly)

        

     Rates on 30 year mortgages fell to a record low for the third straight week, and borrowers took advantage of the drop, sending new applications soaring.
     With the Federal Reserve on the verge of pouring hundreds of billions of dollars into the U.S. housing market, mortgage rates have plunged to the lowest level since Freddie Mac started tracking data in 1971.
     Low rates are a great opportunity for borrowers with solid credit.       According to Peter Coy of Business Week, " thank the U.S. Government for trying to jump start the stalled housing market by buying up mortgage backed securities."  Coy also suggested that rates are probably headed lower in 2009 raising the question of whether you should borrow now or wait for a better deal.  The experts are sharply divided over this one.  If you're a gambler, wait. If you can't sleep at night worrying that rates might go up, borrow now.  Also, if you're considering a new loan, get a fixed rate.   And, if you have an ARM (adjustable rate mortgage), keep it for now.  Right now I've heard that Freddie Mac and Fannie Mae are looking for a credit score of 720 points although I've heard from local mortgage brokers here in Marin that there are lenders that will consider a lower credit score.  And lastly, the highest hurdle for many buyers has been lender's debt to income standards.   For conforming loans monthly mortgage payments cannot exceed 28 percent of gross income, while all debt payments cannot exceed 36 percent of gross income. 

        

     Glen Roberts of Inman News recently reported that "the idea of a national multiple listing service has moved out of the realm of science fiction and into the realm of serious discussion"   David Charron, president and CEO for Metropolitan Regional Information Systems, the largest multiple listing service in the United States said that, "the idea of a national MLS is a wonderful thing!" And, that he expects rapid change in the MLS industry, evolving into "an entirely different business" in the next 18 months.
     David Charron would be one of the benefactors if we were to go down this road.  And, the realtors that provide the MLS data  would be further compromised as big business steps in and dictates how our industy should operate. When will someone from NAR, CAR, and  the local Associations stand up and say no to all these corporations that have invaded our industry?  We create the data, and then all these lead generation companies try to sell leads back to us?   Why aren't they paying for access to this data?  How did thet take over control our MLS data?  We created the data their expoiting. They should be paying us!
     Where's the leadership?  Any Internet company that is in the business of exploiting the real estate industry is given carte blanche when accessing our  MLS data...why?
    Any efforts to 'nationalize" the MLS will only continue to erode our relationship with the MLS data that we create.  Local associations need to take control of their own MLS data and it's distribution to what extent they can.   Our current leadership believes that there is very little that we can do? Why are we so intimidated by these large internet businesses that feed on us?   Now more than ever, at the local level, realtors need to stand up and defend our industry before the David Charron's take it away from us.
    A national MLS is good for the corporations that want to control the data.  With so many internet side vendors they'll make a fortune on the backs of the realtors who create the data.
   Really, how many realtors need to practice out of state?   Now that the markets are in transition and struggling, predators are everywhere.  Who's watching the store?

        

        

        

     The Associated Press reported that rates on 30 year fixed rate mortgages fell to a record low for the second straight week, causing refinancing applications to surge to the highest level in more than 5 years, a month after the Federal Reserve pledged to channel billions to prop up the sinking U.S. housing market.
     Freddie Mac reported on 12/24/2008 that average rates on a 30 year fixed rate mortgage, dropped to 5.14% last week, down from the previous record of 5.19% set the previous week.  The rate was the lowest since Freddie Mac's weekly mortgage rate survey began in April 1971, and the 8th straight week of declines.
     The average rate on a 15 year fixed rate mortgage droped to 4.91% last week from 4.92% the previous week. Rates on five year adjustable rate mortgages fell to 5.49% from 5.6%.  Rates on one year adjustable rate mortgages rose to 4.95% from 4.94%.  A mortgage broker from Winter Haven, Florida suggested borrowers must have at least a FICO score of 600.

        

Short in Name Only   by Jo-Ann Carol Cubello

     When a lender allows a property to be sold for less than the remaining balance on the mortgage loan to facillitate a sale by a financially distressed owner, it's called a short sale.
     A short sale can be a winning situation for a buyer looking for a house listed below market value.  Mortgage companies typically want to work with buyers and sellers to prevent foreclosures.  That's why, if a  seller is current on the loan and the value of the property has fallen, a lender may consider a discounted payoff.
     However, here's what you need to know before jumping headlong into a short sale:   Lenders have a deluge of foreclosed properties and short sales on their books and, consequently, it can take several weeks to three months for a lender to agree to a short sale offer.
     Short sales can be frustrating, especially if the lender refuses your bid, pushes back with possible renegotiations, or receives a higher bid.  In the event a second or third lien holder (i.e.entity holding a form of security interest granted over the property to insure the payment of a debt) is not being cooperative, it helps to have a little extra cash on hand to meet unanticipated demands for a larger payoff balance and expedite the process.
     A Realtor experienced in short sales can protect your interests, guide you through each step, check important details, and provide advice when you encounter a speed bump.
     Good to know: The success of short sales is about 50 percent, according to anecdotal reports from Lenders and Realtors.  That percentage should increase as lenders streamline the process.  Also, a short sale does not involve a foreclosed property.  However, the owner of a property can fall into default - and foreclosure - during a lengthy approval process.

        

     Rates on 30 year fixed mortgages dropped last week to their lowest levels in 37 years, as the Federal Reserve pledged to pour money into the mortgage market in an effort to spur the moribund U.S. housing market.  Freddie Mac reported Thursday that average rates on a 30 year fixed rate mortgages dropped to 5.19 percent, down from the year's previous low of 5.47 percent, set the previous week.  The rate is the lowest since Freddie Mac's weekly mortgage rates survey began in 1971.
     The rates do not include points.  The nationwide fee for 30 year and 15 year mortgages averaged 0.7 of a point last week.  The fee on a five year adjustable rate mortgages averaged 0.6 of a point, while the fee on one year adjustable rate mortgages averaged 0.5 of a point.
     In Marin home sales continued to fall in November.  Sales of single family, resale homes were off 33.6% year over year.  Year to date, home sales were down 21.7%.  The median price for single family, resale homes fell 7.3% in November compared to the year before.  The average price was off 17.6% while the average price was down 21.2%.  Condo sales were strong again last month, up 31.4% year over year.  The median price for condos in Marin County fell 24.9% from October, a drop of 56.7% compared to November of 2007.
MORTGATE INTEREST RATES AS OF DECEMBER 10, 2008

30 Year Fixed Conforming to $417,000 + 0.500 points: 4.875%
30 Year Fixed Jumbo          to $625,000 + 0.000 points: 5.375%
5   Year Fixed Jumbo          to $1 Million + 0.500 points: 5.750%
7   Year Fixed Jumbo          to $1 Million + 0.500 points: 6.125%

On December 18, 2008 La Jolla based Data-Quick Real Estate News reported:
Full Text Data Quick Article

On December 19, 2008 The Marin Independent Journal reported that Home Prices and Sales had Fallen
Full Text of Marin Independent Journal Article

Also on December 19, 2008 The Marin Independent Journal reported on Interest Rate Volatility
Full Text Interest Rate Volatility Article

        

HAPPY HOLIDAYS FROM MARIN COUNTY REAL ESTATE!
May peace break into your house, and may thieves steal all your debts.
May the pocket of your jeans become a magnet for $100 bills.
May love stick to your face like Vaseline, and may laughter assault your lips.
May your clothes smell of success like smoking tires.
May happiness slap you across  the face,
And, may your tears be those of joy!
May 2009 be the best year of your life !!!

Santa fields a double play at the Northgate Mall in San Rafael next to Macys.

 
No L?  Holiday Salutation on Bridgeway in Sausalito.....NOEL!

 

A volunteer at the Marin Community CanTree at the Northgate Mall
helps collect food.  If you can, please bring any Food contributions
to the CanTree at the Northgate Mall (next to Macy's and Santa). 
For more information in this regard scroll down to the Marin Community
Food Bank post below. 

HAPPY HOLIDAYS! Thank you one and all for supporting this web site.

        

     The Town of Tiburon and City of Belvedere are uniquely situated such that their own geographys plays an important role in why crime statistics are so low in these areas.  With one road in and one road out, these communities have proven themselves more difficult for criminals because of this dynamic.  None the less, thefts remain the most commonly committed felony in Tiburon. According to the Town of Tiburon's virtual newsletter "Tiburon Talk" published November 28, 2008, "In 2007 Tiburon experienced 99 thefts from vehicles, 15 residential burglaries, and 10auto thefts.  Most of the crimes occurred between midnight and dawn, and most thefts were from unlocked cars."  The department publicized the problem in the Ark and in a Town Newsletter, and encouraged the public to lock their cars and homes, and to conceal valuables left in their cars.  Good advice wherever you live.

     The Chief of Police for Tiburon, Micael Cronin, is proposing two fixed cameras on Tiburon Boulevard and one on Paradise Drive.  The cameras would be focused on the traffic lanes in a direction and at an angle that would most likely capture the vehicle's license plate.  While the images would be available in real time, the system would not be monitored in this manner except in extraordinary circumstances.  Images would be purged after a specified period.
    This proposal will be brought forward to the Tiburon Town Council in a public hearing early in 2009.  Most of the concerns voiced at this time are in regard to privacy issues. 
  Big Brother? Or, good idea?

A new website in Marin County  More Marin  has posted another very good article on this subject.

        

The  Analyan Report 

     The city by city report out this week shows Novato and San Rafael continue to be strong performers, pushed along (particularly in Novato) by REO (bank owned properties) sales at bargain prices.  Novato at 34.7% in contract for single family homes and condo sales combined.  Normally we would characterize this as being within a breath of a "strong seller's market which we think of as 35% or more in contract. This market is much more sensitive to price so sellers should be dressing up their homes and pricing them for today's market.  Greenbrae turned in the only other solid performance, but on such a light volume that one unit more of less could have swung the statistics another way.  It appears that everything else within central and southern Marin is in a strong "buyer's territory."
                   Novato City Hall

      Single family residences total listings are down to 889.    Everything is a buyer's or in a strong buyer's market on a county wide basis except under the 1 million dollar mark and under the entry level  market which is at 26.9% in contract, just into seller's market territory.   Sellers should be aware that this is partially a misnomer as sales are very sensitive to price, presentation, and buyer perception.

      Here are the stats for the 7 days that ended on December 2, 2008:   There were 40 new listings, and 32 price reductions.  28 listings went contingent, 9 pending, 20 sold,41 expired, and 33 were withdrawn or temporarily taken off the market.   

  (San Francisco Yacht Club Marina in Belvedere)        Condos and townhomes lost just a bit of ground from last week, but the under 1 million dollar mark segment (all but 8 units) still at 34.18% in contract, a very strong showing and close to the 35% " strong sellers market" threshold.  The condo inventory is down to 283 from last week's inventory of 306.   For the 7 days ended on December 2, there were 10 new listings and 17 price reductions.  7 condos went contingent, 9 pending,13 sold,18 expired,and 14 were withdrawn or temporarily off the market.

Special thanks to Fred Anlyan for his contribution to this website.  Fred's email is: fred.anlyan@cbnorcal.com

        

        

David Cook at the Tree Lighting ceremony at the Rockefeller Plaza
in New York City...singing John Lennon's Happy Christmas!

        

Frank Howard Allen in Tiburon has placed a large collection can in front of their offices at 1660 Tiburon Boulevard in downtown Tiburon (across the street from the Tiburon Fire Department).  The can is placed in front at 9 am every morning and resides there till 5 or 6 o'clock pm.

This is a wonderful opportunity to help those that cannot help themselves this Holiday Season.  If you're unable to "drop off" canned foods, and live in Southern Marin, please contact me and I will come pick up your canned contributions.

You can reach me at:  415-385-7404  cell or email me at MDLomas@gmail.com

Mark Danforth Lomas, Frank Howard Allen Realtors, 1660 Tiburon Boulevard, Tiburon,California   415-435-1000 

        

        

     Mortgage rates dropped for a third straight week, reflecting the impact the weakening economy is having on financial markets.  Freddie Mac reported Thursday that rates on a 30 year fixed rate mortgage averaged 6.04 percent last week, down from 6.14 percent the previous week.  It marked a sharp decline since rates hit a a recent high of 6.46 percent during the week of October 16, 2008.
     Concerns about the economy and worries over the fate of Detroit automakers have caused Wall Street's major stock indexes to hit levels not seen since 2003, sending investors swiftly into government debt.
     Thirty year mortgages rates hit a high for the year of 6.63 percent in late July and then dropped to seven month low of 5.78 percent and for the week of September 18, shortly after the government took control of Freddie Mac and Fannie Mae.

        

What does Tomorrow hold for Marin Real Estate?

 Photo: Flickr by Xero 79

Here are two articles that recently ran in the Marin Independent Journal Newspaper

Marin Independent Journal November 22, 2008 "Home Sales Look Good"

Marin Indpendent Journal November 21, 2008 "Home Sales Up While Median Price Drops"

What does tomorrow hold for Marin Real Estate?  Leave a comment and share your thoughts!

And, if you have a moment, check out my  Marin History site with the Marin Indpendent Journal!

        

        

Bay Area Homes That Owe More Than Home Is Worth Map

        

On November 9, 2008 Marni Leff Kottle wrote a very timely article, "It's a Different Market for Home Sellers" in the San Francisco Sunday Chronicle's Real Estate Magazine:
It's a Different Market for Home Sellers

And, back in October Marni also wrote another timely and very insightful article about how hard the credit crunch has hit the Bay area. Here's that article that was published in the San Francisco Chronicle:

        

President Elect Barack Obama...a new beginning.  Throughout Marin County there seems to be a collective sigh of relief with the election of Barack Obama as our new President.  Last Sunday, throughout Marin, traffic at Sunday Open Houses appeared to pick up.  Momentarily, there seems to be signs of hope and optimism.  Best wishes to President Obama, and his family!

        

        

Marin's home sales increased on the strength of condominium sales last month while prices continued to drop, mimicking Bay Area trends.   The median price of a single family home in Marin last was $825,000, down from $860,000 last year.  159 single family homes were sold, about the same as the 158 homes sold in September 2007 reported DataQuick of San Diego on Tuesday.
Marin Independent Journal's article: Condos Buck Up Marin Home Sales
And, check out my Marin History web site with the Marin Independent Journal: Marin History

        

     Sunday evening, around around 9pm, smoke and a red glow over Angel Island could be seen from the Tiburon Peninsula. By 11:30 pm the media reported that an estimated 75 to 100 acres on the east side of Angel Island was burning.  This morning the media reported that about 200 firefighters were battling a 250 acre wildfire. The photos below were taken from Sausalito and Tiburon October 13, 2008 between 9am and 10am.

Angel Island Fire from Sausalito 9am October 13, 2008


Angel Island from Downtown Tiburon


Helicopter Bailing Water From The Bay To Fight Fire

En route to Angel Island Fire

Firefighters prepare to relieve fellow firefighters on Island


A huge Helicopter siphoning water from the Tiburon Marsh
behind the Town Hall. The wind from the helicopter was blowing
me backwards as I took this photo... while the Tiburon Police
cleared the area.

At this time the fire has spread from the east facing side of
Angel Island to the North side of the 740 acre island. Angel
Island State Park has several historic buildings (that at this
time were not endangered) from the days it served as an
important station for the West Coast as well
as a military facility.

        

    How did we find ourselves in such an economic mess?  How could the powers that be not have the foresight to see what was right around the corner?  We've been led to believe that the sub prime mortgage melt down was the cause, when the truth of the matter is - it's the derivatives, created by the repeal of the Glass-Steagall Act by a greedy Banking industry.
    The Glass-Steagall Act, passed in 1933, mandated the separation of commercial and investment banking in order to protect depositors from the the hazards of risky investment and speculation - the cause of the 1929 Stock Market crash.  It worked fine for 50 years until the banking industry began lobbying for its repeal during the 1980s.
    The main cheerleader for the repeal was Phil Gramm, but there is plenty of blame to go around here. Both Republican and Democratic Senators and Congressmen supported this disgraceful bow to the banking industry which was eagerly signed into law by Bill Clinton in 1999.
    According to Wikipedia, many economist have criticized the repeal of the Glass-Steagal Act as contributing to the current economic volatility in the Stock Market.  The banking industy laid out more the 200 million dollars for lobbying in 1998 according to the Center for Responsive Politics. The banking industry succeeded  in their two decades long effort to repeal the act.  This lust for banking largesse is as wanton among Democrats as Republicans - right up to the current campaign, according to the Phoenix Business Journal.  Both McCain and Obama have accepted substantial amounts of money from Wall Street bankers, investment and securities firms, and their executives during this campaign cycle.


    Personally, I believe the Glass-Steagall Act needs to be re-enacted.  Before we bail out the banking industry, insurance firms, and Wall Street some reforms and regulations need to be put into place or the game will just continue. 
    The American International Group - AIG - upon receiving $85 Billion Dollars from the government recently sent executives to a $440,000 retreat at a posh California resort?  Where's the oversight?  How many times can the taxpayer's trust be betrayed before someone steps in and does something? Congress seems to only act in times of crisis... is anyone listening?!
    Late in the game our government realized what had to be saved was not the housing market or the dollar, but the financial derivitives industry: and the precepice from which it had to be saved was an "event of default" that could collapse a quadrillion dollar derivatives bubble, a bubble that could take the entire global banking system down with it.
     Right now  derivatives represent the biggest financial market in the world.  Derivitives are financial instruments that have no intrinsic value, basically they're just bets.  "The point everyone misses" wrote economist Robert Chapman a decade ago,"is that buying derivatives is not investing.  It's gambling, insurance and high stakes bookmaking.  Derivatives create nothing and they serve to enrich non producers at the expense of the people who do create real goods and services."  As bets, you can hedge your bet that something will go up by placing a side bet that it will go down. Hedge funds hedge bets in the derivatives market. Bets can be placed on anything, from the price of tea in China to the movements of specific markets.
                                                                                                                        
     What to do?  Re-enact the Glass-Steagall Act for starters.  Separate commercial banking from the stock market. Then, have Congress focus on the Dirivatives Bubble and articulate a solution, simply and clearly. Steve Krofts on 60 Minutes last week did a great job of explaining what's happening.  Where's the political discourse?
     Just my opinion.

Some of the information for this post was gathered from Wikipedia, William Kaufman's "Shattering the Glass - Steagall Act", the Phoenix Business Journal, and Ellen Brown's post on her blog (Web of Debt) It's the Derivatives Stupid!

        

     The current issue of the San Francisco Business Times has a special supplement "Luxury Living" that  features the top 4 Zip Codes in the Bay Area where property values continue to go up despite the general downturn of the real estate market.  One of those Zip Codes is 94920 (Tiburon and Belvedere) here in Marin County.
                         
     A brief excerpt from the article:  Yes, residents cite the excellent public schools, the burgeoning sense of community, and the Tiburon International Film Festival  as reasons for moving to tony Tiburon or Belvedere, but really, in Marin's highest earning Zip Code it all comes down to the views.
     You'd be hard pressed to find a house on Belvedere at any price that doesn't have a glimpse of water.  At an average sales price last year of almost $3.9 million dollars, a view  may not be too much to ask.
     "One of the economic factors that increases desirability is there's very little land, if any to build on," said  Mark Lomas , a realtor with Frank Howard Allen  and a Tiburon/Belvedere resident since 1976. " To build, people usually have to buy a property, and gut it."
                                            
      Mark Lomas  with fellow realtor  Kirsten Wolfe preview an unlisted property on Belvedere Island that is being offered for over 8 million dollars.  For more information about this spectacular property located on Belvedere Avenue (Not on MLS)  contact Mark Lomas at: 415-789-7777  or   Kirsten Wolfe  415-789-7724.
For the whole story from the San Francisco Buisness Times click:                                       

        

    On September 19, 2008 the Marin Independent Journal reported that, "Marin home sales continued to decline last month, but buyers who snapped up foreclosed houses at discounts propped up Bay Area sales." This news along with Wall Street's meltdown, has caused many prospective buyers to move over to the sidelines to wait and see how this will play out.  And yet, there are those who feel that with the Government's intervention on Wall Street this might be the first signal of having hit the "bottom". Truly, it's anyone's guess at this moment, but there are still many buyers in Marin County that are still actively looking.  Time will tell...

                                                                                                                                
For the whole story click here:
Marin Independent Journal Marin Home Sales Article

And, if you have a moment check out my site with the Marin Independent Journal:
Marin History

        

     Back in the go go days of California Real Estate (2000-2006) more people were pursuing or were engaged in a real estate career than at any time in the history of California.  It was estimated that one out of every 52 adults in California had a real estate license.  The surge was attributed to the dot-com bust in 2000.  Real Estate became very attractive to those displaced in contracting economic sectors.
    According to Jeff Davi, Commissioner of the California Department of Real Estate, with the transitioning of today's real estate market the department is administering approximately 40 percent fewer examinations than a year ago. And, he believes that another factor that will contribute to fewer licensees will be license disciplinary actions.
                                                                           

    According to Davi, "The department is receiving complaints from buyers and borrowers who were involved in questionable transactions.  Perhaps these questionable transactions were occurring all along, but were masked by the hyper-appreciation in real estate prices.  Perhaps these transactions are a result of newer licensees, many of whom have never seen a down market, pushing the envelope to ensure another payday. Whatever the reasons for the increase in transactional complaints, we need to get the bad actors out of the business!" And then the Commissioner goes on to say," And we need your help to do it!"



   Davi then points out,"There are many things that reputable, conscientious real estate professionals can do.  First and foremost, if you are aware of any fraudulent activity, report it.  Then be willing to get involved.  Often the department receives anonymous complaints, but it cannot act on them because not enough information is provided.   Second, if you are contacted by a Department of Real Estate investigator, cooperate.  Cases of misreprensentations are often difficult to prove without reliable and credible witnesses."
   In conclusion Davi says that, "Consumers need to know that they can trust their agent, and that an agent is educated, experienced, and motivated to do the right thing for their clients.  Let's work together to ensure that a career in real estate is satisfying, and worth pursuing."

Marin Association of Realtors
40 Mitchel Boulevard
San Rafael, California   94903
415-507-1000
415-507-1031 fax

        

     For a lot of people, when considering moving to or within Marin County, the three most important things in real estate are schools, schools, schools.  A lot of home buyers factor in the school where they are moving when they consider making a puchase.  And, for those buyers without children, it is also an important factor when looking down the line for resale purposes.  As the most significant investment people will make in their lifetime, when purchasing a home, schools are a very important consideraton.
                                                                                                                        
     Recently, the Marin Independent Journal ran an article about how the Marin County schools excelled in the 2007 to 2008 school year as measured by the federal No Child Left Behind Act with 81 percent of all students meeting requirements for academic progress.

     "But seven Marin schools - nearly twice as many as last year  failed to meet their mandates, according to a report by the California Department of Education.  Educators say the increase is largely due to higher state and federal standards for English language learners."
                                                                               
For the whole article, and a chart with the Academic Performances Index Test Scores for Marin Public Schools, click on:  Marin Independent Journal Article September 4, 2008 Marin Schools

And, check out my web site with the Marin Independent Journal at: Marin History

        

    For the comedically challenged and humor impaired this post is not recommended. But for those of you a little more daring... here we go with a little real estate humor:
* Sign next to FSBO (For Sale By Owner): We shoot every third agent, and the 2nd one just left!
* This house has every new convienence, except low payments!
* By the time you pay for a house in the suburbs, it isn't.
* If you think no one cares that you're alive, try missing a couple of mortgage payments!
* I just listed a maintenence free house, in the last 25 years there hasn't been any maintenence!
* I never understood why my Realtor was always smiling?  I didn't think anybody could have that many teeth without being a barracuda!

        

     A couple of days ago I received a phone call from the San Francisco Business Times. The San Francisco Business Times is preparing an article that will come out on September 5th regarding some of the high end neighborhoods in the Bay Area, and how those neighborhoods have been affected by the current real estate market.  The San Francisco Business Times also wanted to know why people move to Tiburon and Belvedere?
     I shared that I believed that there are certain mico-communities in the Bay Area that have actually appeciated during the downturn in today's real estate market. And, Tiburon and Belvedere are just such markets.
     Homes here in Tiburon and Belvedere continue to appreciate because of macro economic factors unique to this area such as high desirability, natural geographical beauty, climate, lifestyle, lack of available land for new building, proximity to San Francisco and Silicon Valley (that are experiencing strong job markets), a stellar school system supported by the tax base, and being one of the most gorgeous waterfront communities in the world! 

Belvedere	Year	Average Sales Price	Tiburon	Year	Average Sales Price006
	2004	$1.669,561		2004	$2,702,455
	2005	$1.990,514		2005	$2,806,076
	2006	$1,976,550		2006	$3,082,290
	2007	$2,207,819		2007	$3,880,903

        

                                                              For a second year Community Action Marin, a San Rafael-based nonprofit, is offering a raffle to help fund its programs for the poor by offering raffle ticket buyers the chance to win a San Rafael "dream home" priced at $2 million.  Last year's winner chose the cash over the house that was priced at $2.1 million.  At the bottom of this post is all the information you'll need to participate in this event.

   Community Action Marin - which operates 15 programs that focus on mental health services, early childhood development, HIV/AIDS, food programs, the homeless and more. "The fact that the local anti-poverty agency is raffling off a $2.1 million house is a little ironic," said Gail Theller, the agency's exective director.  But cuts in funding by the Marin Community Foundation, the federal government and the state government left Community Action Marin with little choice, Theller said. 
   The nonprofit lost about $200,000 a year in funding from the Marin Community Foundation recently when the foundation's trustees decided to take money away from ongoing programs so they could finance new initiatives. In addition, Gov. Arnold Schwarzenegger eliminated funding for a homeless program that served the mentally ill when he sliced $703 million in health spending from the budget. That move cut $500,000 a year from Community Action Marin's budget, Theller said. 

   Stacy Swor, a Mill Valley lawyer who has been on the agency's board for 18 years, said, "The truth of the matter is we're being bled to death. Believe me, we've tried everything. Bake sales and car washes just don't do it these days.    "People are willing to support a charity if they can see something for their money," Swor said. "What we're faced with is ongoing operational expenses, and those are expenses that are just about to get contributions for."

   Although last year was the first time that a nonprofit in Northern California has used such a raffle to generate revenue, the practice has gained popularity in Southern California, where it has been used by St. Jude Medical Center, school districts and cultural organizations, Theller said. A law passed by the California Legislature in 2001 made it legal for nonprofits to conduct such raffles. 
   Still, the agency took no chances, Theller said. It checked with the state attorney general's office and the Marin County district attorney before proceeding with the raffle. 
   Last year Community Action Marin hired Neal Martin, a former high school school teacher who oversaw a similar raffle for a college prepatory school in Watsonville, to manage the raffle. Mount Madonna School sold 19,000 raffle tickets costing $150 each and raised about $1 million for the school while paying out a grand prize of about $1 million, Martin said. Community Action Marin expects to do better than that.
   "We are convinced we are going to net $2.2 million," Theller said last year.  This year, the same house, is offered in the raffle. (Last year the winner chose the cash option)


   Because Community Action Marin is also charging $150 per raffle ticket, it needs to sell 35,000 tickets to meet their goals. The prizes will be paid for with proceeds from ticket sales. If fewer tickets are sold than expected, Community Action Marin has reserved the right to reduce the size of the grand prize - to an even split of the raffle's total profits. The grand prize winner also has the option of a $1.6 million cash prize in lieu of the "dream house." 

   Theller said she found the house at 204 Southern Heights Blvd. in San Rafael by mailing letters to 100 people who were trying to sell homes in Marin. If the grand prize winner does opt for the cash, the owner of the house will be paid for holding the house out of the market for six months, Theller said. She declined to say how much. 
   Theller said she thought it would be difficult finding a homeowner willing to take their house off the market for so long, but half of the people contacted expressed interest. The owner of the San Rafael house had priced the home at $2 million, and will be paid that amount if the prize winner chooses the house. 

   People who buy the raffle tickets will know that they're giving to a worthy cause, Martin said.    "It's not a mystery - unlike the state lottery where the funds from the state lottery are going to end up being budgeted in the next fiscal year," Martin said. 
   Nevertheless, raffle winners will get no special treatment from the Internal Revenue Service. Like any raffle or lottery, prizes over $5,000 are subject to a 25 percent government tax, Martin said.
(Some of the information for this post was taken from an article by Richard Halstead, and was posted on the Marin Independent Journals web site: 9/6/2007)
For the most recent article by the Marin IJ click:   Marin IJ Article - Round Two for Dream Home Raffle
And, if you have a moment, check out my blog with the Marin Independent Journal at: Marin History

COMMUNITY ACTION MARIN'S 'DREAM HOME' RAFFLE ADDRESS: 204 Southern Heights Blvd., San Rafael
SIZE: 4,400 square feet, 4 bedrooms, 4.5 bathrooms; quarter-acre lot
DESCRIPTION: Bay views, chef's kitchen, lush landscaping, library suite, all-new appliances, infinity pool, gated entry
COST OF RAFFLE TICKET: $150
HOW TO ENTER: By phone, 800-431-5166; by mail, CAM Dream House Raffle, 29 Mary St., San Rafael, CA 91949; or by fax at 415-738-7664.  For More information click:    Marin County Dream House Raffle

        

* Stop reading now if you are even remotely humor impaired or comedically challenged!

          Yesterday's man or woman used to think, "if I need to find someone this way, I'm already lost!" But today, someone might say, " I don't have enough time to drive around and look at all the open houses/a potential homebuyer's version of "speed dating", so maybe I can use this service!"

        We've all seen those ads for E-Harmony -  where this scary looking guy comes out and tells us how great his dating service is,  and then tries to convince us that it's all scientific, and that people are matched on 92 points of compatibility! Yeah, right ...

       E-Harmony people are just regular folks like yourself,  not circus freaks, drooling sexual perverts, or couch humping Scientologists.  (Perish the thought) The product of your union wil be an "Everlasting Love!", not some head revolving, vomit spewing, bed wetting, priest cursing, ungrateful devil child, that you'll have to support till you're 18. (okay, maybe I have some issues) But ... if you're still a hopeless romantic, a word of advice ... look beyond the curb appeal!

        Speaking of which ... matchmaking and the promise of finding that perfect property is also here today!

        No doubt every prospective buyer, seller, and real estate agent has heard of the Multiple Listing Service. The real estate agent's "on the make" equivalent of a dating service.  Real estate agents even have their own codes to help inform potential suitors.  Possibly E-Harmony might want to implement this kind of methodology, as you'll soon see, into their 92 reasons to run for the hills! (The following is gender specific ... feel free to substitute whatever gender makes this PC for you ... or not!)

*New: A new listing!  The competition will be lining up for the first dance!  A new listing has that "special glow!" ... for now.

*Active: Active listing.  This gals has been danced around, but so far, no one wants to marry her.

*DOM: Days on the Market.  Everyone watches this number,  like the date on a milk carton. It is an indication of freshness.  The longer she sits on the shelf, the less desirable she becomes.

*CC: Contingent, but continue to show.  She says she's engaged, but there's no ring on her finger - the "due diligence period."   The wedding may still be called off,  especially if the finances don't measure up!

*BOM: Back on the market.  ewww...something could be wrong here.  Definitely not a first choice.  But if it's 2a.m., and you're drunk out of your skull and getting desperate, she might look pretty good.  Of course, you may have to overlook that little hump, the lazy eye, and her spooky resemblence to Karl Malden.

*TW: Temporarily withdrawn.   She's not pretty, and she knows it.  She realizes that if she wants more interest, she's gonna have to get a face lift, fix herself up, start going to the gym, and maybe buy a wonder bra.

*EXPIRED: Listed, but never sells.  She thinks she's Paris Hilton, but she looks more like Yoda after a night of heavy drinking.

*PENDING: Okay, she's bought the dress, had the rehearsal dinner, picked out the china pattern, and the wedding march has started.  Potentially the groom can still back out and run screaming up the aisle.  (Of course, such things usually only happen in the movies ... still, there's always the chance.)

*SOLD:  They're married!  Happily?  Who cares!?  It's re-harmony! (Cue music) " This will be an everlasting love ..."

That is, till he discovers that she has a raging case of dry rot in her basement, terminal fung sway, and a sagging back porch.  Oh well ...



Sausalito Tugboats with the Sleeping Maiden's full figure in the backdrop
(Mount Tamalpais)
Marin County Real Estate Blog
2008

        

        

     This is only my opinion, but in today's real estate market it's critical for anyone selling their property to know the difference between a prequalification letter and a preapproval letter when considering an offer from a prospective buyer.  Without either, unless it's an "all cash" offer, the seller should NOT consider the offer. Let me
explain:
                                 

      A few years back, lenders were happy to issue prequalification letters without the propspective buyer having submited a loan application or doing a credit check. When the real estate market became much stronger, and multiple offers were being made on a properties, prequalification letters carried little weight.  Experienced realtors knew that many of these prequalification letters were from prospective buyers whose finances and credit had not been formally verified. Hence, the introduction of the "Preapproval" letter.
     The preapproval letter led you to believe that the buyer had not only provided the lender all the financials the lender would need. It also suggested that the prospective buyer had submitted a complete loan application, that the buyer's credit worthiness had been verified, and the only consideration left would be that the property appraise at the price the buyer had offered.  It's not that simple anymore...       
     The mortgage industry seems to be re-inventing itself every day.  Lending parameters have changed since the go go days of real estate.  Loans that used to be "slam dunks" are difficult to fund in today's market. A Seller here in Marin County, that received an offer with a "Preapproval Letter" that should have closed Escrow weeks ago, is still waiting to see if the buyer will be able to get funding?  This is only my opinion, but I believe Sellers need to be more cautious then ever when accepting an offer these days.  My advice is that Sellers, and realtors representing sellers, need to review the actual loan application and the buyer's credit report, as you would if you were accepting a lease from a tenant.
                                                         
    The California Association of Realtors provides a Residential Purchase Agreement that most realtors here in Marin County use.  You need to aware are of Item 2 Financial  Terms, and Item G: Loan Applications.  It is my opinion that you only consider an offer that has 0 days for acceptance where it states the "buyer shall provide Seller a letter from lender or mortgage loan broker stating that, based on review of buyer's application and credit report, buyer is pre-qualified or pre-approved for the NEW loan specified in 2C above."  
     I believe this is a good start but may not be enough.  I recommend  that you ask to review the actual loan applicaton and credit report, and you need to specify that the buyer provide a pre-approval letter - NOT a pre-qualification letter in your response to an offer. It is also my recommendation, that if you are unclear with any aspects of an offer, you probably should consult with an attorney.

        

For the full story that appeared August 20, 2008 click here: Marin Median Home Price Slips

Check out my Marin History web site with the Marin Independent Journal: Marin History

        

     In 1990 the real estate market here in Marin County took a downturn.  One of the first things that resulted from the market shifting to a buyer's market from a seller's market was the disapearance of discount brokers and discount real estate companies.  Seller's learned then that the marketing process had become more complicated than paying a flat fee to have your home listed on the local Multiple Listing Service.  Recently, the Help-U-Sell Real Estate franchise company entered Chapter 11 bankruptcy proceedings after a group of regional operators filed an involuntary petition for bankruptcy.  Sign of the times?                              
  
     Ashton Asensio, the consulting and operating officer for Help-U-Sell said that," the brand itself will survive this bankruptcy, and that the franchisees should not impacted by corporate issues"  The company went through a similar bankruptcy proceeding during the last major downturn in the mid 1990s.  The company was founded in 1976.  Asensio also said, "as everyone is aware, the market is not the best and revenues generated by the franchisees were not adequate to sustain them at the level they were currently operating at." 
     In today's real estate market it's become even more critical for sellers and buyers to associate themselves with competent, and reputable real estate professionals.  The mortgage industry seems to be re-inventing itself almost daily. Navigating the maze of details required to purchase or sell a property these days has never been more challenging.
     If you have any questions in this regard, please feel free to email me at: MarinCountyRealEstate@gmail.com or call me at: 415-789-7777
*Some of the content for this post came from Glen Roberts Jr. of Inman News

        

     Frank Howard Allen is the North Bay market share leader once again, according to both dollar volume and units sold for 2007. Frank Howard Allen led the local market with 17.4% of the total dollar volume and 16.1% of total units sold in Marin and Sonoma Counties combined. For Marin County, Frank Howard Allen Realtors is also on top with 21.6% of total dollar volume and 23.3% of total units sold.  

     "I have to say, it's no surprise to me that our agents performed so well despite the very challenging market they faced last year. I know every agent has worked hard to stay on top and maintain a positive outlook. Clearly it's what makes the difference," says Noreen Smith of Frank Howard Allen administration. 
     In another key accomplishment, FHAllen has again ranked as one of the North Bay's Top 500 Businesses. At position 94, we are the only real estate company in the top 100 and the only privately-owned real estate company in the top 300.  
     "The energy and spirit of Frank Howard Allen is truly unique. As we approach our 100th anniversary, the amazing record of our company is one we can be proud of." says Becky Gould the General Manager.
THE NUMBER ONE REAL ESTATE COMPANY IN MARIN COUNTY!
 

        

     On August 9, 2008 the Associated Press reported: Fannie Mae Cutbacks Chill Mortgage Market!  Right now Fannie Mae is making bold cutbacks that according to the Associated Press will send shock waves through the mortgage market, especially after posting a quarterly loss Friday that was three times larger than Wall Street expected.
     To slow it's financial decline, Fannie Mae slashed its dividend to 5 cents a share from 35 cents a share and said it will eliminate loans for borrowers with solid credit scores, but little proof of income - or small or no down payments.  Fannie Mae is also raising fees that will passed along to borrowers as higher interest rates or closing points.
     The fear is that mortgage rates will keep climbing, making it harder for people to afford a mortgage or refinance their homes, and spur more foreclosures.  

      So, has any of this affected Marin County? On August 8, 2008 the Marin Independent Journal reported that Redwood Trust of Mill Valley shares slide 14 percent amid report of $46 million dollar loss in the second quarter.  Martin Hughes, Redwood's founder and chief financial officer said, "I can tell you we're not in a panic here.  We're sitting with a lot of cash.  We just put a bunch of money to work this quarter." 
Redwood Trust Article From the Marin Independent Journal
     Today the Marin Independent Journal reported that three banking institutions here in Marin County see stellar earnings this year  - for the whole story:  Marin's Banks Strong Despite National Slump
     Joan Thayer, the Marin County Assessor-Recorder noted that, "Marin, so far, has remained relatively, but not totally, unaffected by the housing crisis.  The reason for Marin's comparative good fortune is the lack of new development projects, limited new construction, and its continuing allure as one of the most desirable areas in the country in which to live.  Demand is high and the supply is limited.  Nevertheless, there are indicators the economic downturn has impacted this county and will continue to do so in the months ahead.   Since January 2007, we have experienced a significant slowdown in the number of real property sales in all categories: single family residences, multi-family, and commerical properties."
     Recently on the evening news a video clip of President Bush caught off camera talking about the economy after a news conference had the President accusing Wall Street of "getting drunk" and then asked, "when are they going to sober up?"  Did someone forget to tell the President he was the bartender?  Oh well...
     If you have a moment check out my Marin History web site with the Marin Independent Journal at: Marin History

        

2008 Home Sales

Town or City	Average	Median	Total Sales	Days on Market
All Marin	$1,357,580	$1,050,000	771	77
Belvedere	$3,447,538	$2,821,250	12	125
Corte Madera	$1,295,108	$1,100,000	34	38
Fairfax	$773,000	$729,000	23	72
Greenbrae	$1,593,183	$1,317,500	12	50

Kentfield	$2,582,857	$2,000,000	28	79
Larkspur	$1,768,428	$1,650,000	21	56
Mill Valley	$1,528,211	$1,350,000	102	60
Novato	$768,903	$710,000	159	102
Ross	$3,494,722	$2,225,000	18	54
San Anselmo	$1,311,714	$1,025,000	66	63

San Rafael	$1,011,073	$853,500	190	73
Sausalito	$1,735,367	$1,390,000	23	65
Tiburon	$2,606,677	$2,192,500	42	79

The Difference Between "Average Price" and "Median Price"

Average price and median price are terms used in the real estate industry that refer to the price of homes Sold during any given period of time.

The "Median Price" means that half of the homes sold during a given time were less expensive than the median price, and half of the homes sold during the same period of time were more expensive.

The "Average Price" combines the total price of all the homes Sold during a given period of time that are then divided by the number of homes Sold.

Source BARIES MLS single family homes sold. Information deemed reliable but not guaranteed.
All data subject to errors,omissions,and revisions.

Old Glory on Beach Road in Belvedere, California

        

Check out the numbers ... from July 15^th thru to July 31st there were 92 new listings of single family residences.  90 listings went into contract, 104 Sold, and 70 listings were withdrawn from the market . As of July 31, 2008

Condominiums had an good week too. Continuing their recent popularity, 19 units sold during this period, while only 18 were listed. 40 listings went under contract.. Market inventory was reduced from 401 to 391 units.

The price of gas began to drop, the weather warmed up, and suddenly people felt a bit better, while the stock market struggled to get back into profitable territory, showing renewed signs of life in spite of many challenges and continued adverse economic news. DataQuick, the La Jolla based source of real estate statistics continued its string of pessimistic reports while allowing that San Francisco and Marin Counties were better off than most other Bay Area markets.

So, what’s happening in Marin County Real Estate? Lots of activity here with buyers getting tremendous value, especially in Novato and San Rafael, and particularly in Condominiums which languished for too long and are now enjoying renewed popularity courtesy of their relative affordability--- a great opportunity for first-time buyers or downsizing sellers. Let's see what happens next! Our market typically enjoys increased activity in the fall. Buyers who have been waiting may recognize the opportunity they have been waiting for is here now. Experienced local real estate professionals can help mine the gold in this market - they know values, and are an important resource for buyers and sellers alike.

 (Special thanks to Fred Anaylan for some of the information for this post)

        

      Is the Marin Association of Realtors in a state of crisis?   Many members think so. What do you think?
      About 10 years ago the Marin County Association of Realtors maintained the Multiple Listing Service (MLS/property information) database for Realtors in Marin County.  This was prior to the internet becoming such an intricate part of our lives and businesses.  At that time the Marin Association of Realtors was worried that Microsoft might attempt to make inroads into our profession, and we relinquished the data we owned and controlled to third parties (which is now Bay Area Real Estate Information Services/BARIES.)  I was on the Board of Directors at that time, and protested this action. I felt we were allowing our fears to define us.
      When the Marin Association of Realtors (MAR) controlled the MLS the "Code of Ethics" and "Professional Standards" were respected.  Why? Because if you conducted your business in an unethical or in a non professional manner you could have your MLS privileges suspended.  Now that the MLS is operated by a third party, it appears that there are no mechanisms in place to enforce unethical conduct and unprofessional behavior.
       Over the last 10 years we've seen realtors, real estate companies, and VOWs (virtual office websites aka virtual offices without walls) marketing other realtor's listings as if they were the listing broker.  Misleading?  Confusing? That's just the tip of the iceberg! 
       In the last ten years we've begun seeing what Steven Colbert on The Colbert Report calls "truthiness" being practiced in Marin County Real Estate advertising.  It's not the truth, but some variation that has nothing to do with the truth. You think at first that it might be true, but when you examine it, it has nothing to do with the truth.
      How can there be two number one real estate companies in Marin County? How can there be multiple agents claiming to have been the number one agent in Marin.  How can  local newspapers, and other local publications print conflicting ads depicting two different companies claiming the mantel of being number one, oftentimes in the same publication? Not only is this a disservice to the company that truly is number one, but what kind of disservice is this to the public? You might think that the Real Estate profession would have established clear criteria and standards in this regard...wouldn't you?! 
       What happened to the Code of Ethics? 
       If there is a real estate agent, broker, or company in Marin County that is disingenuous, devious, deceptive, and dishonest in their advertising, does it matter?  Does this kind of behavior affect other real estate professional's ability to practice real estate fairly in the same environment ? Has "truthiness" become the new professional standard? 
       Is the Marin Association of Realtors in crisis?  As long as these kinds of concerns plague the membership many members believe there's a cancer eating away at the integrity of MAR.  It appears  that the organization has become ineffective and powerless.  The Marin Association of Realtors Board of Directors needs to take a long look at where it's been and where it want's to go. Or continue doing what they're doing and run the risk of becoming an unnecessary entity.

       This post was originally emailed to the current President of MAR, last year's President and now a member of the Board of Directors at MAR, and Ed Segal Cheif Operating Officer of MAR on 2/26/2008.  On 2/28/2008 the Board of Directors had a meeting. Afterwords, Ed Segal, said the Board would be taking actions to enforce the Code of Ethics and Professional Standards.

      

        

Click Here To Read Article

And, if you have a moment ,check out my Marin History Web Site with the Marin Independent Journal by clicking on the link below:

Marin Independent Journal's Marin History Web Site

        

     On July 14, 2008 Jeannine Aversa/Associated Press reported that the Federal Reserve and the Treasury will take steps to shore up mortgage giants Fannie Mae and Freddie Mac, whose shares have plunged as loses from their mortgage holdings threaten their financial survival.
     The steps are also being taken to send a signal to nervous investors worldwide that the government is prepared to take whatever necessary steps to prevent the credit market crisis troubles that started last year from engulfing financial markets and further weakening the economy and housing markets.
     The Feds said that, "this should help companies ability to promote the availability of home mortgage credit during periods of stress in financial markets." 

Lisa Benson/ Washington Post Writer's Group 7/25/2008

        

  Quick quiz?  Which mortgage company CEO took 140 million home in compensation while the company he founded lost 704 million dollars?  For Marcie Geffners article from Inman News click on the following link:
Countrywide's CEO Angelo Mozilo

        

     Last post I ran a headline that said, "Ignore the Headlines!"  Well, that might have been a little premature. Last Monday Indymac Bank, in an attempt to reassure depositors that the company is not near collapse, issued a response to letters to Federal Bank regulators from Senator Charles Schumer that "Indymac Bank's financial deterioration posed a significant risk to both taxpayers and borrowers."
     On Friday and Saturday depositers withdrew about 100 million dollars.
     The Center for Responsible Lending issued a report Monday claiming that interviews with former employees and lawsuits in 10 states showed Indymac pushed through loans based on bogus appraisals, worked closely with mortgage brokers who mislead borrowers about their rates and fees, and often treated elderly and minority consumers unfairly.
     While Schumer claimed Indymac Bank used brokered deposits to "finance rapid and irresponsible growth," Indymac said those deposits,"lowered the risk for Indymac Bank and improved our safety and soundness during this turbulent period."

     Fannie Mae and Freddie Mac reiterated Friday that the companies are adequately capitalized and that a government bailout is not imminent, but stockholders in the government chartered, publicly traded companies were not entirely reassured.
     Continuing a monthlong slide that intesified last Monday, Fannie Mae's shares fell 22 percent on Friday and Freddie Mac was off more than 3 percent.  Investors are worried loses at Fannie Mae and Freddie Mac could force those companies to issue more common stock to raise additional capital.  And, if the companies are unable to raise capital, and the government steps in to place the companies in a conservatorship, their shares would be worthless.

     

        

     When prices are falling few people have the discipline to buy stocks, a house, gold, art or any other asset.  But, for those who do "pull the trigger" excel in the long run.  As John D. Rockefeller famously said,"The way to make money is to buy when blood is running in the streets."
     In Marin County there are some areas where the streets are stained crimson (Novato). Consider this, the stock market is being pummeled, oil per barrel prices are going through the roof, and there's panic that we're in a recession.  The Fed rate cuts will lift the economy eventually, and the stock market wil typically starts responding just as the headlines get their gloomiest.  Sure, the market could fall again before recovering, but the "Recession" may be half over already - or we may avoid one all together. You just never know.
    But, let's say you're emotionally ready to be a homeowner.  You have good credit, plan to stay put for the next five years and have been waiting for the perfect entry point. Well, it may be time to get serious - before an inevitable rise in interest rates wipes out your advantage.  "The thing that will make home prices stop falling is the same thing that will push mortgage rates higher," says Lending Trees chief economist Jim Syinth.  So,anything you gain by a further drop in prices might be offset by rising financial costs.
    It's more complicated if you must sell before you can buy.  But, that logjam won't persist forever - and if it appears you'll be trapped for a few years, try to refinance at today's lower rates.  Risk always seem most acute when the headlines give you ulcers.  But that's exactly when you should think long term - and get off your thumbs.
    Ignore the headlines!

        

                                                              
     Independence Day is a heartbeat away and one of the beauties of life in the North Bay is the variety of fun events that our charming communities organize at this time of year. Read on to learn of the many unique ways to observe this all-American holiday. Happy Fourth!
 
Corte Madera-Larkspur
43rd Annual Corte Madera/Larkspur Chambers of Commerce 4th of July Parade - Elaborate floats, precision drill teams, classic cars and the Corte Madera Town Band.
Parade Time: 10:30 am
Route: From Redwood High in Larkspur, it moves down Magnolia into Corte Madera and continues down Tamalpais Ave to the Town Center.
Post-parade: Check out the festivities at Corte Madera's Town Park: arts and crafts, food and drink, carnival games, children's activities and live entertainment.
Info: (415) 924-0441.

Novato
16th Annual 4th of July Parade - Come see over 100 parade entries ranging from classic cars and vehicles from a military museum to Irish bagpipers and a Chinese drum and bell corps.
Parade Time: 10 am
Route: Downtown Novato, starting at the corner of Grant and Railroad Avenues 
Along the parade route, you will also find food and refreshment booths, and souvenir t-shirts.
Info: (415) 899-8900.

The 55th Annual Buckaroo Breakfast
Location: Redwood Credit Union parking lot: 1010 Grant Ave, downtown Novato
Time: Breakfast served from 7-10 am
Organizer: The event is presented by the Presbyterian Church of Novato.
Fee: There is a suggested donation of $5 for adults, $3 for kids. Proceeds will be donated to the Marin Community mission project.

First Annual Novato 4th of July Race
Tamalpa, a Marin running club, presents a "4 on the 4th" four-mile road race and a "Mayor's Mile" one-mile family walk/jog.
Starting time/place: 7:20 am at 7th and Grant, downtown Novato
Entry fee: $15, which includes a race mug and post-race goodies
To register, go to the Tamalpa website.
 
Ross
Annual Ross Commons Picnic - Pack your own lunch, or you can order from Eddie's. The picnic begins at noon and will take place at the Grove area of the Common.
Info: (415) 453-1453, ext. 176
 
San Rafael
Marin County Fair and Fireworks
The Marin County Fair (at Marin County Fairgrounds, Civic Center Drive) offers Marin County's official fireworks display. The July 4th concert features the Preservation Hall Jazz Band from New Orleans.
Fair admission: $12 to $14, and includes free carnival rides, exhibits, and music
Fireworks begin at 9:30 pm
Info: (415) 499-6400 or  www.marinfair.org
  
Sausalito
4th of July Parade and Fireworks - This year's parade will include the Cal Alumni Marching Band, floats of all shapes and sizes, and the Sausalito Fire Department.
Parade Time: 10 am
Route: Starting at South Bridgeway, it will move through downtown Sausalito to Caledonia St and into Dunphy Park.
Post Parade: A town picnic in the park with food, entertainment, raffles, tug-of-war, and an egg toss. Fireworks: 9:15 pm
For a complete schedule of the day's events, go to www.ci.sausalito.ca.us
 
 
Tiburon
Fireworks Cruise - One of the best ways to see the San Francisco fireworks display is from the Bay! The Angel Island-Tiburon Ferry Co. will offer a 4th of July fireworks cruise.
Boarding Time: 7:30 pm and departs at 8 pm
Place: The Tiburon ferry dock off Main Street
Fee: $40 for adults; $20 for children
Info:  (415) 435-2131.

Woodacre
4th of July Parade and Pancake Breakfast
Breakfast Time & Place: 8-11 am at the Woodacre Fire Station, 33 Castle Rock Rd.
Cost: $7 for adults; $3 for children
Parade Time: Noon
Route: Starting at the Woodacre Improvement Club (1 Garden Way), it follows Railroad Ave to the Dickson Ranch.
Post-Parade: A good old-fashioned celebration at Dickson Ranch - A family affair with games, face painting for the kids, competitions (including the men's ugly leg contest), horse rides, plenty of music, barbecue, bingo, and everyone's favorite, the flea market.

        

    Countrywide's takeover by Bank of America is approved while California and Illinois sue over misleading borrowers.  Officials in both California and Illinois have filed lawsuits claiming Countrywide misled borrowers into taking risky home loans.  For the complete story click on the link below:
Alex Veiga's Associated Press Article

        

     On June 19, 2008 the Marin Independent Journal newspaper reported that in May of 2008 home sales were up from the previous month , but that the volume of sales are down in comparison to this time last year.  287 homes sold in May of 2007 where this year in May only 178 homes sold.   As home sales continue to plunge across the Bay Area Marin remains an anomaly as the only county where the median price increased from $925,000 this time last year to $1,102,000.
     Corrina Rollins, senior real estate instructor at College of Marin for more than 20 years was not surprised by the price jump.  Corrina says, "Marin had only the lowest end of the market involved in sub-prime mortgage sales, and most of the homes that were selling were outside of that range." Corrina also says,"the typical seller in Marin, they can wait." Suggesting that  some sellers might wait out this marketplace before offering their home for sale.
     None the less, Novato has been hit harder than the rest of the county to the point where some companies have closed or curbed their operations.  In fact, Coldwell Banker has closed it's Novato office as has Avalar Real Estate.  Coldwell Banker's response was, "that with the sophistication of electronic communications, agents do not need much office support as they once did." 
      At this time Pacific Union has moved into a smaller office space in Novato.  Levi Swift of Pacific Union and current President of the Marin Association of Realtors says,"the real estate market is going through a cycle that has been exacerbated by the national economy."
      Larry Brackett, CEO for Frank Howard Allen, acknowledges that the Novato market has hit the city harder than elsewhere but thinks it has a bright future - especially when work on Highway 101 is finished and commuting becomes easier.  "Trader Joe's and Whole Foods think Novato is upwardly mobile," Brackett said of the two retail chains that are opening outlets downtown. "There are a number of very positive signs regarding the Novato market."
     In fact, Brackett said,"I've been recruiting  agents from Coldwell Banker offices in Greenbrae, San Rafael, and Novato.  I do not understand Coldwell Banker's business decision, but then I'm not running a national company."

And, if you have a moment, check out my Marin History web site at:
Marin Independent Journal's Marin History Web Site

        

     Realty educator Corina Rollins of Greenbrae says that if Marin's real estate market hasn't bottomed out yet, it's very close. "You are starting to see people move into the market, attracted by the low prices," said Rollins, senior real estate instructor at the College of Marin for more than 20 years. "We are as close to a buyer's market as we are likely to be," she said. Marin home sales remain lower than last year, though sales are picking up a bit after several months of record lows.

      The median price of a single-family home in Marin last month was $935,000, down from $1,010,000 a year earlier, and just 165 single-family homes were sold - down from 254 in April 2007, DataQuick Information Systems of La Jolla reported Tuesday. In March, the median single-family home price in Marin was $862,500, and 110 single-family homes were sold. April statistics included total sales of 216 single-family homes and condominiums, down from 313 in April 2007 - but up from 148 sales in March.

     DataQuick analyst John Karevoll said Marin remains a "unique market that doesn't seem to be too concerned with the ups and downs of mainstream meat and potatoes real estate in the state of California." "The issues that seem to concern Marin homeowners are not the issues that concern 97 percent of homeowners," he said. Describing last month's median price for a resale home in Marin as "stratospheric," Karevoll noted Marin was the first county in the state to exceed a million-dollar median price one year ago. "And Marin is going to be the first to re-cross it," he said.

     Levi Swift, president of the Marin Association of Realtors, said the statistics indicate "Marin County and San Francisco County are the ones holding up the best. É Realtors on the ground are seeing lots of traffic and if a house is properly priced, it sells and it sells pretty quickly." Across the Bay Area, 6,310 homes and condos sold. That was up 29 percent from 4,898 in March but down 15 percent from 7,447 in April 2007. The month-to-month jump was the strongest for any March-to-April in DataQuick's statistics, which go back to 1988. From last September through March, each month was the slowest on record.

     The median price for a Bay Area home was $518,000 last month, down 3.4 percent from $536,000 in March, and down 21.4 percent from $659,000 in April last year. Rollins said the combination of low prices and affordable rates may lead condo dwellers and those living in small homes to consider bigger homes. "But I don't think it's going to happen rapidly," said Rollins, a residential appraiser in addition to her teaching duties.

     The Marin market - especially among condos where the median price jumped to $508,000 in April from $477,500 in March - should benefit from a federal move to increase the conforming loan rate to as much as $729,750. The move cuts interest premiums.      Foreclosure property resales accounted for 26 percent of last month's Bay Area market. Foreclosure properties accounted for 9 percent of Marin's market. Appraising a home in foreclosure in a Petaluma subdivision, Rollins found 8 of the 9 homes for sale in the area were in some stage of foreclosure.

This article appeared in the May 20th, 2008 issue of the Marin Independent Journal.
For the full article and statistical graphs from DataQuick CLICK HERE
And, if you'd like to see my online journal with the Marin Independent Journal click -> Marin History