Marin County Real Estate Blog

The Real Estate Scene in Marin

Mark Lomas 415-789-7777 — 2010-03-05T04:06:00Z

The Anlyan Report

Mark Lomas 415-789-7777 — 2010-03-05T03:59:00Z

While the number of Bay Area Home Sales have fallen the median price is up from the same time last year. Marin is bucking the trend with 144 single family residence sold to February 16^th of this year, as opposed to 98 single family residences sold during the same period in 2009, a 46.95% increase.
Condo home sale were up also to 50 sales in 2010 versus 47 sales during the same period in 2009, an increase from last year of 6.3%.

The average sales price for this period for Single Family residences is $1,037,231 dollars vs. $846,678 in 2009. Caution is advised in interpreting these results due to such a small sample size this early in the year. Still, the numbers are at least interesting, and bear watching.

Also, the inventory is still low with only 792 homes shown as Active on the Marin Multiple Listing Service as of February 16^th, 2010. This compares with 952 homes on the market at the end of February 2009.

The under the $1 million dollar market is very hot with 46.4% of listed homes in contract, while the over $3 million dollar plus market is still lagging with only 7.25% of homes in contract.

So far, early results are encouraging, but when ever asked "how’s the Marin Real Estatge market doing?" I remember what Robert Beadle from Coldwell Banker in Greenbrae once said when asked the same question, his response: "it changes every day."

Stay tuned, and this site will continue to keep you apprized of what’s going in within the Real Estate Scene here in Marin County. And, thank you for checking out the Real Estate Scene here in Marin County, California!

Marin Real Estate Statistics for 2010

Mark Lomas 415-789-7777 — 2010-02-26T15:38:00Z

Wondering what's going on in Marin County Real Estate?
Here are the Statistics for January 2010 ,and Market Trends for the past 12 months.
If you'd like to know more about what's going on in your neighborhood
feel free to email me at MDLomas@gmail.com or call me at 415-385-7404 cell/direct

Testimonial For Mark Danforth Lomas

Sunday Online Open Houses

Mark Lomas 415-789-7777 — 2010-02-25T14:47:00Z

Click here for: Sunday Marin County Online Open Houses by the Marin Independent Journal

Here's another version for Marin County Sunday Open Houses by the Marin Association of Realtors

Marin Online Open Houses

San Francisco Resident Wins Marin Dream Home!

Mark Lomas 415-789-7777 — 2010-02-20T22:00:00Z

San Francisco Resident Win's "Marin Dream House"

Win this $2,000,000 Marin County Dream House or Choose $1,600,000 in Cash!
For More Information Go To: Marin Dream Home
Or Call: 1-888-999-4540

   For a third 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 "dream home" priced at $2 million.
   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 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.
   The nonprofit lost about $200,000 a year in funding from the Marin Community Foundation 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.

Marin Real Estate in "Real Time"

Mark Lomas 415-789-7777 — 2010-02-20T14:48:00Z

     This Graph will change Towns every 7 seconds

Mark Danforth Lomas * Marin Luxury Homes and Properties

(415) 789-7777 work v.m. * (415) 385-7404 cell/direct

                      MDLomas@gmail.com

       Testimonials For Mark Danforth Lomas

Marin Real Estate

Mark Lomas 415-789-7777 — 2010-02-20T02:49:00Z

February 19, 2010 Marin Independent Journal

Sales Up in Marin County as Median Price Slips

Affordable Housing in Marin and other Bay Area counties remain "Out of Reach" for many

Marin County is State's Healthiest

San Francisco Resident Win's "Marin Dream House"

406 Paradise Drive in Tiburon, California

Mark Lomas 415-789-7777 — 2010-02-19T02:47:00Z

406 Paradise Drive is located in the Point Tiburon community just a short distance from downtown Tiburon. This rarely offered 2 story, 3 bedroom 2 and 1/2 bath residence is offered for $1,965,000.
The first Open House will be this Sunday February the 21st from 1 to 4pm.

Sunday Online Marin Open Houses

Mark Lomas 415-789-7777 — 2010-02-16T17:43:00Z

Click here for: Sunday Marin County Online Open Houses

Tiburon Real Estate

Mark Lomas 415-789-7777 — 2010-02-16T17:11:00Z

An email is circulating around Marin County right now that clearly misrepresents that Company's position in Tiburon real estate sales, and listings. This company has skewered the statistic to such a degree it would appear they're the leading real estate company in Tiburon? This company's advertising practices has landed them before various Grievance Committees at the Marin Association of Realtors in the past. And,because the Marin Association of Realtors has no means to reign in this kind of bad behavior, it reflects poorly on all us who practice real estate here in Marin. Disengenuous, deceptive, and dishonest Advertising is a Violation of the Code of Ethics. The problem is, without hiring an attorney, there's no way to enforce the Code? It truly is a sad state of affairs, and hence, has rendered the Marin Association of Realtors as an ineffective Association.

Here are the real stats for real estate in Tiburon.

Best Real Estate Web Sites in the Bay Area (Marin included)

Mark Lomas 415-789-7777 — 2010-02-15T15:52:00Z

RELOCATION.COM names San Francisco Bay Area's Best Real Estate Agent Web Sites!

Press Release

New York, PRNewswire: Relocation.com , the leading online consumer resource for moving services, today announced its listing of the best "Real Estate Agents Blogs" in San Francisco.

"Access to listings is still a crucial part of a real estate web site, but the content of the blog is also very helpful for people who are moving or considering moving to a particular city or neighborhood," said Ron Asher, the founder and chairman of Relocation.com. "The Blogs we selected excel in providing relevant market data about the community, as well as an insight into what might be like to live there."

The Top Real Estate Web Sites in the San Francisco Bay Area:

* Marin County Real Estate        The Real Estate Scene in Marin   from Mark Lomas

* The Front Steps                         The Front Steps     from Alex Clark

* Absolutely Foster City Blog   Absolutely Foster City Blog   from Jim Minkey

* San Mateo Real Estate Blog    San Mateo Real Estate Blog    from Vicki Moore

* The White Oaks Blog                White Oaks Blog

* Living Well in San Mateo          Living Well in San Mateo   from Stoklosa,Williamson,&Williamson

How Relocation.com chose these web sites:

A Local Touch: The best real estate agent web sites offer a unique voice that can not be found on a media web site or general web site, providing an "insight" that helps people learn more about that community.

The successful agent web site/blogs blend vivid pictures, interesting vignettes about local community life, and a discussion of the issues that affect the community, like local elections or school board meetings. "People who are moving to a new community like to see a personal touch in the real estate web site/blog," said Asher.

Market Data: House hunters love market data. Whether they're comparing the costs of one neighborhood to the next, or keeping an eye on prices in their target neighborhood, this neighborhood specific data can be a challenge to find on the web. The best real estate agent web sites provide that information, as well as top notched analysis around it, giving would be homebuyers crucial data to help make their decision when moving.

Real Esate Knowledge: People with varying degrees of real estate knowlege visit these web sites, so these sites provide a mix of information that target a variety of knowledge levels. " These sites demonstrate the agent's real estate knowledge and their ability to convey information in a way that people can understand," says Asher. These sites target people who are looking to purchase homes in those areas.

If you're thinking of selling your home, and you'd like an edge up in today's unique real estate marketplace, these agents clearly have excellent internet marketing skills. If that's the difference you're looking for, call one of them today!

113 Paradise Drive in Tiburon, California

Mark Lomas 415-789-7777 — 2010-02-13T15:12:00Z

Just listed! 113 Paradise Drive in Tiburon, California This wonderful two bedroom two bath Point Tiburon residence offers spectacular views of San Francisco, and is located just a short distance from downtown. No steps, all on one level.
Check out the video, and if you'd like to preview this home, give me a call or email me at:
Mark Danforth Lomas 415-789-7777 or MDLomas@gmail.com Offered at: $1,945,000

Sean Penn and Robin Wright Sell Their Ross Home

Mark Lomas 415-789-7777 — 2010-02-06T15:53:00Z

It looks like Sean Penn and Robin Wright (she dropped the Penn name) are really going to divorce this time, with the recent sale of the Penns’ Marin County home.

The deed was just recorded on Jan. 20 , and the sale price was not revealed. The Penn’s originally listed their home for sale in August 2008 for $15 million. Purchased in 1996 for $2.1 million, the 7,557 sq. ft. home has since been renovated and sits on 2.2 acres. It was built in 1933.

Since announcing their divorce last summer, Robin moved to LA to be near her daughter who is attending college.

Marin Luxury Home Sales For 2009

Mark Lomas 415-789-7777 — 2010-02-05T15:21:00Z

In 2009 the Marin Luxury Homes market had 128 homes that Sold over two million dollars compared to 222 in 2008, and 288 in 2007. In the chart below are twenty of Marin’s most expensive home sales for 2009. If you'd like more details on any of these properties, contact me at MDLomas@gmail.com or 415-789-7777

Marin Real Estate

Mark Lomas 415-789-7777 — 2010-02-03T05:34:00Z

Marin Real Estate

Mark Lomas 415-789-7777 — 2010-01-30T16:13:00Z

Marin Real Estate Report by Fred Anlyan: Bay Area December Home Sales Strongest in Three Years

Front page article in the 1.22.10 Marin IJ exclaims "Home sales, median price up". At the same time stocks in the Dow take a 200 point one-day dive on fears about proposed new bank regulations as well as concern about Fed Chairman Bernanke's re-appointment problems. Investors want to be optimistic but still cautious, skittish, reacting to news and rumors by selling stocks. Mortgage rates improved slightly on the poor financial news.

A January 21 article by San Diego-based MDA DataQuick titled "Bay Area home sales strongest in three years" noted that December's Bay Area sales of 7,828 units were the month's highest since 8,372 were sold in December of '06. Article goes on to say that home sales are still skewed towards the low end of the market, a fact the writers attribute to tax incentives and sales of distressed properties. Also notes that lender reluctance currently the most significant obstacle to further improvement in the Bay Area housing market. States that December Bay Area foreclosure re-sales made up about 32% of re-sale activity compared to 48% in Dec of '08 and the high of 52% in Feb, '09. Full text of article available at :

Bay Area Home Sales in December Strongest in Three Years

Here in Marin County, YTD unit sales of single family residences (SFR) were 48 as of January 19, up 17% over the 41 units sold in the same period last year, while condo's unit sales were down 5.5% at 17 vs. 09's 18 during the same period. Average list and sold prices up for both categories of housing showing significant increases but this may be due to the as yet small number of sales, and therefore subject to change as the year continues.

Inventory for both condo's and SFR's beginning to increase slightly, a normal trend for this time of year as sellers who waited out the Holidays bring their properties to market or place them back on the market after temporarily withdrawing them. County-wide, the under-$1million market continues to be most active by far, with 45.75% of SFR's and 44.5% of condo's in the price range in contract. Upper end of the market still sluggish, largely due to difficulty in obtaining "jumbo" loans. Buyers with cash continuing to pick up great deals. Varies by city/town, neighborhood, etc. See last City-by-City report for details (attached again for convenience).

Many feel the local market has bottomed out and is on the upswing. Many buyers shopping for property before rates and prices go up. Experienced local REALTORS still the best source of information and assistance.

Belvedere Hawthorne Nursery School Kitchen Tour, Boutique, and Grand Raffle

Mark Lomas 415-789-7777 — 2010-01-16T21:57:00Z

Don't miss this Exclusive Opportunity! The Belvedere Hawthorne Nursery School Kitchen Tour takes place Tuesday, February 9th, 2010 from 9:30am to 2pm!

Don't miss an excellent opportunity to take an exclusive look at some of the most beautiful kitchens in Tiburon and Belvedere! Enter the Grand Raffle to win Fabulous prizes! Shop at our Valentine Boutique and enjoy a Waterfront Luncheon at the San Francisco Yacht Club in Belvedere.
Tour tickets are: $40 in advance, $45 at the door. Raffle tickets: $5 each, 6 for $25. Luncheon:$30
For more information: call 415-721-3204 or
visit their web site at: Belvedere Hawthorne Nursery School Kitchen Tour

The Number One Real Estate Company in Marin County Celebrates it's 100th Anniversary

Mark Lomas 415-789-7777 — 2010-01-16T21:47:00Z

Frank Howard Allen Realtors celebrates being the Number One Real Estate Company in Marin (hands down) for 2009, and their 100th Anniversary! 1910 - 2010! As the leading Residential Brokerage in Marin Frank Howard Allen continues to provide the highest level of service among their competitors. If you're thinking of buying or selling in today's real estate market give yourself the "edge", and go with the best. For more information about Frank Howard Allen's real estate services contact me at 415-789-7777 or 415-385-7404 cell/direct.

Point Tiburon Townhome Just Listed

Mark Lomas 415-789-7777 — 2010-01-16T15:49:00Z

This rarely available 2 story, 3 bedroom, 3 bath Point Tiburon residence is available for sale at $1,995,000. For more information about this wonderful property contact Mark Lomas at 415-385-7404 direct/cell or 415-789-7777 wk.v.m.

406 Paradise Drive in Tiburon, California

John and Yoko Slept Here

Mark Lomas 415-789-7777 — 2010-01-14T20:42:00Z

The Windmill House

It was the summer of 1972. A couple of years earlier Rosa Burke Perez had completed construction of the hillside home that she and her then-husband, Neil E. Davis, had built a few blocks from downtown Mill Valley. Winding circularly, this unique all-redwood house has no right angles, a dozen levels, and 18 stained glass windows.

On the afternoon of June 23^rd, her youngest daughter’s 5^th birthday, Rosa was saying goodbye to small party guests when the phone rang. It was Diane Nilson, an acquaintance who knew that in a week Rosa and her four children were traveling to Mexico.

“I know someone who might want to rent your house while you’re gone,” Diane said. “It has a lot of privacy, doesn’t it? Because they’re very famous. You can’t tell anyone...it’s John and Yoko.”

It turned out that Diane was a friend of Peter Bendrey, who had just driven John and Yoko on a two-week trip from New York to San Francisco. Now staying in a Japantown hotel, they had decided to rent a house for a month. Diane asked if she and Peter could come over that evening after a customarily late dinner with John and Yoko in Sausalito.

When Rosa answered the expected knock on her front door, there, to her astonishment, stood John Lennon.

"Hi, I'm John,” he said, as a group of five filed in. “This is Yoko. This is Peter...Diane...Elliot." (Elliot Mintz, radio personality and press representative.) John was wearing a black jacket with a button that said, "I'm crazy."

As Rosa gave them a tour of the house, her young daughters tumbled out of a bedroom. She introduced the girls, then remembered that she couldn't reveal the names of her celebrated guests. She looked beseechingly at John, who introduced himself and Yoko as "Fred and Ada Schwartz."

When they all stepped out onto the master bedroom deck, John gazed out and said, "It's like living in a windmill. I always wanted to live in a windmill." Elliot would later refer to it as The Windmill House.

After the tour they retired to the living room for almost an hour. A distinctly sweet smell soon filled the air. Peter did the rolling, and John was visibly appreciative.

The deal had been struck. Rosa would begin her Mexican vacation a couple of days early, and John and Yoko and Peter moved in on June 28^th, 1972. On August 1^st they autographed an album for their hosts and departed. When Rosa returned, she quickly checked to see if John had taken her hint: Having recently begun writing graffiti on her bathroom wall, she left pens handy. Something had indeed been added. In what looked like John’s handwriting were the words "The maya the merrier!" (‘Maya,’ Sanskrit for ‘create,’ means ‘illusion’ in Hinduism and Buddhism.)

Story by Rosa Burke Perez and Mark Lomas
Rosa's email is: rosa@rosacoloredglasses.com
Rosa's website is:www.rosacoloredglasses.com

Without revealing the street in Mill Valley's name...does anyone know the street this house is on?
Hint: Love All

Real Estate Today Radio

Mark Lomas 415-789-7777 — 2010-01-13T15:37:00Z

Anlyan Report

Mark Lomas 415-789-7777 — 2010-01-12T16:36:00Z

Emerging from the traditionally quiet period of the year (regarding real estate, that is), we see that is has not been all that quiet. Numbers of accepted offers for both Single Family Residences (SFR) and Condominiums were double or more than in the same period in the last two years. Months Supply of Inventory at the end of December was 3.5 for SFR's and 4.1 for Condo's, lowest in over two years. Total SFR units sold finished 2009 at 1656, 5.5% more than 2008. Condo's at 497 sold for the year down just 2% from the year-ago figure. Some of this activity, no doubt, due to buyers desire to get taxpayer credits while they last and to take advantage of historically low interest rates which are bound to go up sooner or later. The question is when. Will the Fed start to raise interest rates while employment is still at 10% +? Is there another round of foreclosures coming that will depress housing prices further. As the toy crystal ball I had as a child was fond of saying: "answer hazy, ask again later". One thing is for sure. Buyer taxpayer credits will end, and interest rates will eventually rise. Prices and interest rates are excellent now. Many think this is a great time to buy. Time will tell.

City-by-City report out this week shows percentage in contract down in 5 Marin cities and towns, up in 7, and essentially unchanged in one (San Rafael, 37%). Belvedere lowest at 14.29% in contract, even after a 2 point rise, while Fairfax has the top spot at 59%, and still-hot Novato comes in a close 2nd at 53.6%. Pricing still critical in all Marin County markets, with overpriced listings sitting on the market and eventually withdrawn, cancelled, or selling for significantly less than properties "priced right" from the beginning. No time to push the envelope or test the market. Pricing, preparation, and presentation still critical factors in listing and selling a home. Sellers advised to seek the advice of experienced local REALTORS who know the market.

2010 promises to be an interesting, and perhaps a pivotal year for real estate. It will be interesting to see what happens.

Move Your Money...Now!

Mark Lomas 415-789-7777 — 2010-01-09T22:30:00Z

Nothing was more frustrating in 2009 than working with the large banks that took tarp money from the American taxpayers. When trying to work with these banks, the complicated Mortgage Maze one now has to navigate has made homebuying more difficult then ever before. So, how does this help the taxpayers that bailed out the banks? As things stand now, the only real benefactor of the tarp money are the large banks. Could there be a solution?

This video encourages you to consider moving your money out of these banks into local community banks. Local community banks create jobs and lend money to small businesses where you live. Now might be the time to seriously reconsider doing buisness with those banks that are hesitant to loan the tarp monies.

And, if you put your money in a Community Bank (like at the large banks) you are insured by the FDIC. It's a great video!

Thoughts on Undergrounding Wires in Marin

Mark Lomas 415-789-7777 — 2010-01-09T21:44:00Z

The $625,000 ongoing litigation regarding the Del Mar undergrounding underscores the highly divisive, expensive and unfair nature of such projects forced upon local residents by town management and well-heeled (often brand new) residents. The assessments for individual property owners for the numerous Tiburon and Belvedere undergrounding projects have ranged from $20,000 to $35,000 or more (give projections for the most recent projects), a substantial amount, especially in today's very difficult economy.

Determination for "membership" in each undergrounding project has generally been dictated by a visit from a town engineer, who has drawn up a district for eventual action based upon the view that the homeowner is benefiting from the removal of the various utility poles and equipment. We were recently included in a future "district" because we can see some wires a block away: there are no wires on our immediate street.

The driving force behind such districts formulation has often been new (often dual-income), wealthy homeowners, who also realize that they will likely have moved on "up the hill" or elsewhere by the time the assessment or tax bill comes due. So, they get their clear skies with no fiscal risk. That risk is left to be underwritten by the long term homeowners in the district, who have learned to live with the utility poles, and more importantly, may not have the same level of disposable (truly appropriate word for this purpose) income enjoyed by the young professional families that promote such expensive and non-critical expenditures.

Furthermore, whatever visual or safety benefits accrue, they are experienced not just by the immediate neighbors in a district, but by the entire town populace at various times. Therefore, if Tiburon and Belvedere believe so strongly in the value of undergrounding , they should find another broader funding solution. This would be more equitable that forcing a few citizens to shoulder a very onerousand unfair cost, just because they happen to live under PG&E's hardware.

Until this issue is properly aired and resolved among the citizens of both towns, an immediate halt tothe formation and implementation of undergrounding districts should be enacted. I am sure a great number of out neighbors would appreciate the opportunity to rethink what appears to be an expensive, divisive, unfair and frankly, unnecessary public works program.

This post was written by Peter G. Engler and appeared recently in the Ark newspaper

January 4, 2010 State Appeals Court Overturns Tiburon Assessment Ruling

A State Appeals Court has REVERSED a Marin Superior Court ruling on the LEGALITY of a Special Undergrounding District Assessment in Tiburon, siding with property owners who claimed they were being taxed disproportionately.

In a decision issued last Thursday, a three Judge panel of the state 1st District Court of Appeal ordered the Marin Court to overturn Judge James Ritchie's April 2007 ruling in favor of Tiburon.
State Appeals Court Overturns Tiburon Assessment Ruling

Marin Real Estate - Myth vs. Reality

Mark Lomas 415-789-7777 — 2010-01-02T13:54:00Z

     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

November's Statistics Down From October

Mark Lomas 415-789-7777 — 2009-12-18T18:26:00Z

Today the Marin Independent Journal came out with the headlines: Top Story: Drop in Home Prices Bucks Regional Trend. And once more we're back to interpreting misleading headlines:

John Rusting, a real estate instructor at College of Marin and certified appraiser in the East Bay, said it's hard to put much stock in such statistics given Marin's variety of micro markets and generally higher prices. Rusting said, "I sincerely doubt that home values in Ross are dropping, when you look at things countywide, for every 15 sales in Novato and one good sale in Ross or Kentfield, you average this out and it can be deceiving. Novato remains the hotbed for activity in Marin Real Estate. Rusting also said, "It's holding overall numbers back as opposed to the East Bay where the median price is starting to creep up."

For the whole article click on: Marin Independent Journal Article December 18, 2009

Seal Sculpture off Bridgeway in Sausalito, California

What's Today's Buyer's Profile?

Mark Lomas 415-789-7777 — 2009-12-16T15:35:00Z

What does today's buyer of real estate look like? Here are some statistics from the National Association of Realtors that you'll find very insightful, especially if your thinking of selling.

NAR has recently released the 2009 Profile of Home Buyers and Sellers. The report compiles the results of 9,138 surveys returned by buyers and sellers who sold or purchased a home between July 2008 and June 2009. The surveys were sent to buyers and sellers based on deed transfers and other public records. The complete report is available for purchase at www.realtor.org . Here are some highlights I found interesting:
•·         47% of all buyers were first time buyers.
•·         62% of first time buyers reported that the primary reason for buying a home was the desire to be a homeowner, 35% of all buyers reported that as the number 1 reason.
•·         The median age of all buyers was 39, same as last year.
•·         83% of all first time buyers are under the age 44.
•·         62% of all buyers are under age 44.
•·         68% of the buyers surveyed in the Northeast make less than $100,000 per year.
•·         63% of all buyers had no children under the age of 18 residing at home.
•·         Buyers in the Northeast moved an average of 10 miles from where they currently lived.
•·         90% of all buyers used the internet to search.
•·         84% of buyers reported the photos to be the most useful information.
•·         The number one action taken after viewing a home online was to drive by or visit the home.
•·         66% of buyers reported that they used a print ad to search, but only between 84% to 90% (depending on the print medium) reported that those sources were "not useful".
•·         36% of buyers found the home they purchased through an agent, 36% found the home they purchased online, less than 3%found the home they purchased in a print ad.
•·         77% of buyers purchased their home with an agent.
•·         85% of sellers sold their home with an agent.
•·         39% of the mortgages were FHA loans.
•·         87% of buyers viewed real estate as a good investment.So, besides making a handy list, what else does the report tell us? It tells us specifically who the buyers and sellers are, what they want from us, where they want to go and most importantly, what their priorities are.
           Valuable information?
If you're thinking of selling in 2010, and want to get the edge in this every changing, and very challenging real estate market, call me today. Mark Danforth Lomas    Frank Howard Allen Realtors 415-789-7777

Video, The Real Estate Game Changer

Mark Lomas 415-789-7777 — 2009-12-13T17:43:00Z

According to the National Association of Realtors, only 1 percent of Realtors are using video to market their listings, yet 73 percent of all sellers would list with an agent who uses video to market their property. Translation? Using video to market your listings give you a 99 percent edge over the competition.

Here's why: after Google, YouTube is the most used search engine in the world. Also Google's algorithm appears to rank videos higher than podcasts, blogs, or static web sites. Using video clearly helps your search engine ranking. Also, Google now has new software that translates the voice track on video into searchable text. This means Google can search whatever you say on your video so don't forget to mention the address, city, state, and zip code.

If you're considering marketing your home here in Marin, and you'd like to learn more about how to use the latest techniques in technology to market your home, feel free to email me at: MDLomas@gmail.com or give me a call at: 415-789-7777 today.

107 Paradise Drive in Tiburon: Open Today (December 13, 2009) from 2 to 4pm

Marin Real Estate

Mark Lomas 415-789-7777 — 2009-12-11T17:05:00Z

What's Been Happening in Marin Real Estate? You can't tell a player without a program, so here's the program. Marin Real Estate legends Jeff Sterley and Barry Crotty have both returned to Frank Howard Allen Realtors. Jeff will be managing the Novato office, and Barry is taking over the Tiburon office. Brent Thompson has left Frank Howard Allen, and is now the Manager for Pacific Union. Morgan Lane's Mark McLaughlin recently has merged Marin newcomer Morgan Lane with Pacific Union,and we wish them all the very best!

Earlier this year Pacific Union suffered a massive exodus of agents to Alain Pinel, almost their entire Greenbrae office left. Steve Dickason, Alain Pinel's new Marin general manager (previously Pacfic Union's Greenbrae manager) recently reported at a Realtors networking group meeting at the Acqua Hotel in Mill Valley that the hardest hit markets in Marin right now are Ross, Belvedere, Kentfield, Tiburon, and Greenbrae.

There's a lot of curiousity as to what the new Pacific Union will look like? Morgan Lane focused on the high end of the market here in Marin that's now turned "soft." Not the easiest time to launch a new company, so we wish them all the best! A lot of agents in Marin are wondering if Pacific Union's rebranding will be similar to Coke Cola's attempts to rebrand Coca Cola when they rolled out their "New" Coke campaign. Time will tell, sit back and wait and see what an existing company looks like with a new attitude, and new advertising. I imagine that Pacific Union will roll out a very aggressive ad campaign in 2010. At the same time, Frank Howard Allen Realtors will be celebrating their 100th Anniversary of helping buyers and sellers throughout Marin County.

Realtor of the Year

With great pleasure I'm am very happy to announce that Kevin Patsel has been named "Realtor of the Year!" Kevin manages the Coldwell Banker office in Greenbrae and is one of the best in the business. Katie Beacock, the Marin Association of Realtors President said, "It's unusual for us to give it to an office manager, but Kevin has worked above and beyond!" Earlier this year another company attacked Kevin in an email recruiting letter that sent angry ripples throughout Marin County's real estate community as the email foundd it's way into everyone's inbox. Talk about payback, and Happy Endings! Congratulations Kevin!

Also, Bill McKeon, of Greenbrae and a realtor with Alain Pinel has just been installed as the new President of the Marin Association of Realtors for 2010! All the best Bill!

Buisness Week Magazine: " If You Don't Buy A House Now, You're Either Stupid or Broke"

Business Week Magazine Article December 2009

Marin Luxury Real Estate

Mark Lomas 415-789-7777 — 2009-12-06T15:39:00Z

Agassi You Tube Home To Be Demolished?
Once the Roundhill Estate, then Andre Agassi's and Steffi Graf's home later purchased by Stuart Peterson of YouTube fame for 20 million in 2006, now has a Gilmartin Drive adddress and plans to demolish the 12,400 square foot mansion, and put up a 15, 250 square foot mansion.
Agassi Mansion Faces Demolition in Tiburon

Marin Real Estate

Mark Lomas 415-789-7777 — 2009-12-05T14:54:00Z

Bloomberg News "Wealthy Investors PlanTo Buy More Real Estate"

Mercury News: President of Alain Pinel Realtors Resigns

Agassi Estate To Be Demolished & Enlarged
One of Tiburon's most famous estate homes is going from Big to Bigger! YouTube investor Stuart Peterson and his wife, Gina, who bought the Agassi estate on Gilmartin Drive in 2006, plan to tear down the mansion and all the accessory buildings and build an evan grander complex. For the whole story click on the link below:

Agassi Estate To Be Demolished & Enlarged

Third Quarter Housing Prices Show Signs of Life

Mark Lomas 415-789-7777 — 2009-11-26T15:34:00Z

S&P/Case Shiller Home Prices Indices

Just the Facts!

Mark Lomas 415-789-7777 — 2009-11-20T20:48:00Z

Marin Independent Journal Article November 19, 2009

Bloomberg News Bay Area Sales Are On The Rise

The Anlyan Report

Mark Lomas 415-789-7777 — 2009-11-14T16:34:00Z

Listing agents are starting to set offer dates again for attractively-priced homes, especially REO's (bank-owned real estate). Many of these are attracting multiple offers which often go over asking price but not necessarily by a large margin. One listing agent in Novato recently had multiple offers on a property, had the deal fall through twice. The property had multiple offers each of three times it was on the market. It closed escrow on the third try, over asking price. Especially in Novato, cash is king. Investors offering all cash deals or large cash down payments, quick closes, sometimes as short as 7 days. Buyers well-advised to write good solid offers but not to feel pressed into situations they are not comfortable with.

(People that live in glass houses.....)

City-by-City report out this week shows 11 of 13 covered cities and towns increased percentage in contract. Greenbrae and Novato bucking the trend with decreases but probably not tremendously significant. Greenbrae most likely the result of small sample size and Novato decreasing 4 percentage points but still leading the County with 50% of all listings in contract as of November 1.

Marin County SFR and Condo reports showing all price points with an increase in percentage in contract as of November 3. Condo's under $1million, led by the Novato REO market, particularly strong at 46% in contract. SFR's under $1million at 42% in contract. See City-by-City Report for variation by city/town.

Current average Days on Market (DOM) for SFR's is 106 vs. 86 at this time last year.

For Condo's it is 116 DOM vs. 104 in Oct. '08. SFR YTD units sold at 1312 on Nov 3 vs 1393 same time last year, or -5.8%---- compares favorably with -10% at last report.

Condo YTD units sold at 407 vs 426 in Nov., 2008 or -4.5%-- a slight improvement over last report's -4.8%. Average sold prices still down with SFR's at $996,458 vs. $1,298,170 last year and Condo's at $372,301 vs. '08's $495,281. Remember, this is partially a function of market-mix (meaning that lower-end homes were a higher percentage of sold homes) and not all price decline.

(How to build up in today's market - Create from the bottom.....)
Market conditions look hopeful. May be anticipating economic recovery. Home Buyer Tax Credit extension approved by Congress goes to President Obama for signature.

Beautiful Tiburon Rebuild/Remodeled Home in one of the "Hidden" neighborhoods
along the Tiburon Bike Path

Ross Rumor

Mark Lomas 415-789-7777 — 2009-11-09T15:37:08Z

The operative word here is Rumor. Word is that Halle Berry is in the process of buy

The Anlyan Report

Mark Lomas 415-789-7777 — 2009-10-23T14:58:00Z

On October 16, 2009,the Dow Jones closes at 9995, pulling back slightly from Thursday's 1-year high close of 10,062. Marin IJ pours cold water on the nascent flames with front page headline "Tough month for Marin real estate". The article compares September's real estate sales to those of August. A more appropriate comparison would be to September of 2008. That comparison would show activity up considerably while prices are admittedly down due to sales of bank-owned property and the sluggishness of the upper end of the market. IJ article notes "---Marin bucked an upward trend in home sales elsewhere in the Bay area". According to an October 15 article by La Jolla, CA-based DataQuick information services, the average sales volume decline in the Bay Area comparing Sept 08 to Sept. 09 is 8.4%, while Marin County declined only 3.5%. The article states that the median price decline for the area was -8.8% while Marin declined only 6.5%. Full text of the article available at:

http://www.dqnews.com/Articles/2009/News/California/Bay-Area/RRBay091015.aspx

NRT MarketQuest reveals the following statistics:

Single Family Residences: Accepted offers in Sept '08=143, in August '09, 207, and in Sept '09, 244. Ratio of accepted offers to new listings in Sept '08 at 49% while Sept '09 at 80.8%. Sales down a bit from Sept '09's 149 units to this September's 143 units.

Downtown Tiburon and the Corinthian Yacht Club Harbor

Condo's: Accepted offers in Sept '08=58, in August '09, 70, and in Sept '09, 89. Ratio of accepted offers to new listings in Sept '08 at 55.2% while Sept '09 at 106%. Sales down a bit from Sept '09's 55 units to this September's 50 units. Sold median price of condo's at $395K in September of '09 actually up over both August '09 at $375K and Sept '08 at $325K.

These facts do not seem to warrant front page doom and gloom. Under- $1million sector of the market at a very robust 41.25% in contract for Single Family Residences and 43.71% in contract for condo's. The big question is when sales in the upper end of the market will re-ignite. This segment is mostly SFR's, as very few condo's in this price range, usually fewer than 20 units at any given time. Answer revolves around availability of "Jumbo" loans which have been scarce since the financial meltdown last year. Major opportunity still exists for all-cash buyers of high-end homes as well as those with large down-payments and exemplary credit/earnings.

Fred Anlyan, Coldwell Banker in Greenbrae

Marin Independent Journal Article

Marin Independent Journal "Default Notices Spike in Marin County"

Number One in Marin County Real Estate

Mark Lomas 415-789-7777 — 2009-10-17T14:50:00Z

Who's who in Marin County Real Estate? Now you know...just the facts!

The Martha Property in Tiburon, California

Mark Lomas 415-789-7777 — 2009-10-11T18:40:00Z

After 35 years of legal battles and court opinions the Martha Property (110 Acre Parcel) dispute continues in Tiburon. For an update on what's happening check out these links:

Marin Independent Journal Tiburon Deal Possible in Development Fight

Town of Tiburon Staff Report on the Martha Property

50 Hillcrest in Mill Valley, California

Mark Lomas 415-789-7777 — 2009-10-04T13:34:00Z

Open Sunday October 11, 2009 from 1-4pm

When thoughts turn to Mill Valley images of giant redwoods, a wonderfully intimate downtown, and a very natural - very comfortable lifestyle comes to mind. Nestled in the heart of Mill Valley this sophisticated home looks out over a green valley towards views of downtown San Francisco. Lushly landscaped grounds compliment this amazing 3 bedroom 2 bath home that's located just a short distance from downtown.

A formal entryway leads you into a huge living room with recessed lighting, an integrated entertainment system, and beautiful oak hardwood floors. The rooms in this home have all been orientated to the outdoors and views which create a fluid indoor outdoor experience complimented by the extensive decking.

Offered at: $1,795,000 By Mark Lomas (415) 789-7777 and Kirsten Wolfe (415) 789-7724

Just the Facts!

Mark Lomas 415-789-7777 — 2009-10-01T14:28:00Z

DOM: Days on Market

It's What Your Agent Knows That Counts

Mark Lomas 415-789-7777 — 2009-09-28T20:36:00Z

Marin Magazine October 2009 article: It's What Your Agent Knows That Counts

Are Banks Stalling The Housing Recovery?

Mark Lomas 415-789-7777 — 2009-09-23T15:16:00Z

Chase Bank Incompetent? Or, Deliberately Stalling Housing Recovery?

You’ve seen the massive ad campaign played out on television’s everywhere in California for Chase Bank? "We all shine on" , the John Lennon song plays in the background while a surfer paddle outs to the surf? Not sure who’s suppose to be "shining on", but it sure isn’t Chase Bank.

If you know anything about Chase Bank’s short sales practices then you know that Chase Bank, with all our TARP money (25 Billion), is understaffed and not able to handle the volume of short sales they have.

If you make an offer on one of their short sales properties, your lucky if you hear back from Chase Bank in a couple of months. And, then it can be weeks/ months before you know if your offer is accepted or rejected ?

Everything about Chase’s methodology is counter productive...

Also, Chase doesn’t always accept these offers, that then go to foreclosure and then the bank sells the property for less then if they had sold the property when it was a short sale???

According to a national Title Company(approximately) only about 50% of short sales ever sell. Why would anyone make an offer on a short sale with those odds?

Why doesn’t Chase Bank have the staff to handle their huge inventory of short sales? There are huge numbers of trained professionals (mortgage brokers, financial experts that recently lost their jobs) that could step in quickly and help? Why aren’t they hiring and training? Even if these jobs are temporary, there is a very talented pool of people that could step in and help.

If Chase Bank was more efficient in their handling of short sales, more homes would be selling sooner than later, and the housing market could recover sooner. Why is the TARP money being spent by the large banks on acquiring smaller banks, and massive ad campaigns when they should be hiring people to take care of the business they don't seem to be able to handle?

Is Chase Bank incompetent? Or, are the banks deliberately stalling the Housing recovery? Where's the Government oversight?

Sausalito Floating Homes Tour

Mark Lomas 415-789-7777 — 2009-09-20T16:26:00Z

Sausalito Floating Homes Tour
September 26, 2009 * 11am to 4pm
Tickets: $35 Reservations Recommended
For More Information: 415-332-1916
Sausalito Floating Homes Tour

Eichler Homes Tour

Mark Lomas 415-789-7777 — 2009-09-15T15:34:00Z

On Saturday, September 19, 2009, from 11am to 4pm
Please come out and enjoy the Eichler Homes Tour
Open Hearts, Open Homes - A benefit for Hospice by the Bay

Tickets are limited * Reserve Now! 415 - 526 - 5500

Eichler Home Tour 2009

Eichler's of yesteryear.....

Eichler's of today...

Eichler Home Tour 2009

Marin Real Estate Statistics as of September 1, 2009

Mark Lomas 415-789-7777 — 2009-09-03T15:29:00Z

September 1, 2009, "Just the facts"!

DOM: Average "Days on Market"

Existing Homes Selling Fast

Mark Lomas 415-789-7777 — 2009-08-21T21:29:00Z

Existing Homes Selling Fast! August 21, 2009

Mark Lomas * * * Transparent Real Estate * * * 415-789-7777

The Anlyan Report

Mark Lomas 415-789-7777 — 2009-08-16T16:00:00Z

Single family homes inventory dropped slightly and the percentage of homes "under contract" is UP in almost all price ranges. Single family homes in general are continuing to do well with over 27% of these homes in contract. Homes under $1 million are very HOT with 38% in contract, an increase of about 1% from the last report published here. Of course this varies considerably by town and neighborhood. Particularly notable is a pick up in activity upper end properties.

Condo inventory is up by just a handful of units. The percentage of condos under contract right now are around 38% and continues to reflect a strong demand by investors, and first time buyers. Also to note, at this time, Lenders are taking seriously into consideration the ratio of owner occupied units vs. rental units. This is an important statistic for prospective buyer to check out early in the game.

Fred Anlyan, MBA Broker Ass. , Coldwell Banker Greenbrae

"Where We Live" San Francisco Chronicle Tiburon Article

Mark Lomas 415-789-7777 — 2009-08-09T16:07:00Z

San Francisco Chronicle Tiburon "Where We Live" Article August 9, 2009

180 Rancho Drive in Tiburon,California

Mark Lomas 415-789-7777 — 2009-08-09T14:52:00Z

Very "Hot" new listing in Tiburon, California.

Open this Sunday August 9, 2009 from 1 to 4pm.

Your House As Seen By....

Mark Lomas 415-789-7777 — 2009-07-30T13:55:00Z

Your House As Seen By:

Yourself...

Your Buyer

Your Lender

Your Appraiser

And... Your House as seen by
the Marin County Tax Assessor

Signs of Life

Mark Lomas 415-789-7777 — 2009-07-29T12:12:00Z

Marin Foreclosures Down From Last Year

Signs of Life in Bay Area Real Estate * * * Other Signs of Life

Who is the Number One Real Estate Company in Marin?

Mark Lomas 415-789-7777 — 2009-07-23T14:31:00Z

Anlyan Report

Mark Lomas 415-789-7777 — 2009-07-23T13:57:00Z

Hello Everyone,

According to the July 18 Wall Street Journal "The Dow ended the week up 7.3% at 8743.94, taking just five days to recover almost all the 7.4% decline of the previous four weeks-----." The article went on to say this was the strongest weekly gain for the Dow since March. Look for more volatility in stocks in the coming weeks and months, but outlook overall appears hopeful.

Here in Marin County, single family residences (SFR) gained back a bit of ground compared to 2008, with 89 homes sold between June 30 and July 14 vs. only 74 in the same period a year ago. This brought YTD unit sales up to 724 compared to 849 last year at this time or -14.7%. In our report two weeks ago the figure was -18.06% so almost a 20% improvement over the two week period. In spite of this, percentage in contract figures for SFR's slipped slightly in all except the over $3million price range with that increase due to changes in only 3 units so probably not significant. Overall SFR percentage in contract slipped from 26.7% to 25.12%, losing its toehold on "sellers' market" status and drifting back into "balanced" territory. The hot under-$1million segment also cooled just a bit from 39.06% in contract to 37.26%, still technically a strong sellers' market but with not much power behind pricing, sellers still advised to pay careful attention to recent comparable sales, stage well, and go with the flow. Inventory overall down slightly to 1210 units from 1236 at last report.

Condo inventory in the County up 5 units from 321 to 326 since the June 30 report. Condo market still red hot with 38.03% of MLS-listed units in contract as of July 14. In the under-$1million segment, a scorching 40% in contract on that date. YTD units sold slipped again for the second reporting period, but still 11.9% ahead of this time last year with 234 YTD units sold vs. '08's 206 Average price of YTD sold units at $369,173 vs. $538,912 last year at this time. Part of this of course due to price deterioration, but quite a bit of it the result of "market mix", meaning a large percentage of the units on the market are lower-end properties, many of them bank-owned foreclosures. Multiple offers not uncommon in this segment. With more foreclosure activity still to come, opportunity for interested buyers should continue for a while but won't last forever!

Fred Anlyan, Coldwell Banker Greenbrae

Morgan Lane purchases Pacific Union

Mark Lomas 415-789-7777 — 2009-07-20T18:56:00Z

Morgan Lane purchases Pacific Union

SF Gate's Article: Boutique Morgan Lane Buys Pacific Union

SF Business Times Morgan Lane / Pacific Union Article

According to the Daily Pundit/ San Francisco Real Estate Blog: Morgan Lane has purchased Pacific Union. And, it appears Avram Goldman - Pacific Union's CEO will not be going along for the ride. Many people feel Avram was responsible for half of the Pacific Union agents exodus to Alain Pinel Realtors. When that took place earlier this year the Daily Pundit ran a Pacific Union "Death Watch" on their blog.

58 Spencer Avenue in Sausalito, California

Mark Lomas 415-789-7777 — 2009-07-18T16:41:00Z

This listing is "en fuego!"...Red Hot! And, will be open this Sunday. 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! Open this Sunday July 26, 2009 from 1 to 4pm!

The Martha Properties in Tiburon, California

Mark Lomas 415-789-7777 — 2009-07-17T14:54:00Z

      On August 28, 2007 the Marin County Board of Supervisors approved a legal settlement that gives the Martha Company the right to build 43 homes on it's 110 acres on the tip of the Tiburon Peninsula. Although this tract of land is located in Tiburon ,it is an area that is governed by the County of Marin.

Ariel view of Martha Properties 110 Acres in Tiburon, California

      Key parts of this settlement agreement are:
* Reaffirms a 1976 judgment that gives the Martha Company the right to build 43 home sites on 1/2 acre lots
* Some homes will be permitted on the Tiburon Ridge and "upland greenbelt"
* Limits the Marin Planning Commission role in reviewing application to one advisory meeting
* Requires the County to defend the Martha Company from any third party litigation (ex.neighbors)
* Waives the requirement to build any affordable housing or pay in lieu fees
* 14 month deadline for acting on the new developments application from time of filing

Mark Lomas * TheRealEstateScene.com * 1st Published September 2007

Median Home Price in Marin Rises

Mark Lomas 415-789-7777 — 2009-07-17T13:33:00Z

Marin Median Home Price Rises

Lender Appraisal Concerns

Mark Lomas 415-789-7777 — 2009-07-16T13:40:00Z

NEW LOAN DISCLOSURES RULES MAY POTENTIALLY AFFECT CLOSE OF ESCROW

Starting July 30, 2009, if the APR on an initial Good Faith Estimate is no longer accurate (within 0.125% range) at close of Escrow, a lender must provide a residential borrower with a new disclosure and a three day right to rescind before consumating the loan, Realtors and borrowers are forewarned that due to the new three day waiting period, a lender's failure to timely provide corrected disclosures has the potential of delaying funding of the loan at close of escrow. (from the California Association of Realtors)

OTHER LENDING CONSIDERATIONS

Visit msnbc.com for Breaking News, World News, and News about the Economy

June's Statistics

Mark Lomas 415-789-7777 — 2009-07-15T14:53:00Z

June Housing Numbers Show Improvement

Mark Lomas 415-789-7777 — 2009-07-15T13:47:00Z

Visit msnbc.com for Breaking News, World News, and News about the Economy

It's a Lender's Market?

Mark Lomas 415-789-7777 — 2009-07-04T18:38:00Z

      I just attended a Marin based real estate networking meeting where a local realtor asked, " is this a buyer's or seller's market? When someone responded that it was a "Lender's Market" ,more than a few local realtors shared some stories that would give anyone pause applying for a mortgage.
      The moral, or point to this post is how important it is to work with a reputable LOCAL lender in today's real estate market. Mortgage Broker's and Lender's are famous for telling you at the front end that they can make it happen. Unfortunately, that's not proving to be the reality. The real estate web site "Active Rain" ran a post recently: "Why Loan Officers Kill Deals, Cost You Time, Cost You Money, and Anger Customers." In this article they list the 3 most common lies among lenders today are: 1.I'm as busy as I've ever been   2.No problem, I can get that done...and,   3.We can close in two weeks.

       Recently I sold a house in Northern Marin. The day before closing, the lender who was in Southern California decided to do a last second desk review appraisal for the purchase ,and dramatically lowered the value of the house? From the time of the original appraisal, done by a local appraiser, there were new comparables/comps to suggest the original appraisal had undervalued the property. None the less, the underwriter in Southern California required that the buyer put in another $60,000 towards the purchase, or they would not fund. The lender had the buyer over a barrel. The lender knew the buyer's finances, and knew they had the where with all. The lender also knew the buyer had removed their contingency for loan approval, and was legally obligated to close this purchase, or the buyer would lose the 3% deposit they'd already put into escrow. The buyer was not happy.
       In the beginning I had recommended a local lender to the buyer.  The buyer decided to go with an old friend that was a mortgage broker in Southern California. If we had gone with my recommendation we could have avoided all kinds of problems. Most importantly, we could have worked with a lender that understood Marin County Real Estate, and Marin Real Estate property values.
       To be redundant, choose a local Mortgage Company, Mortgage Broker, Lender, Bank, or Credit Union. Expect problems if you choose someone out of Marin, including online lenders with little or no experience here locally.
       Whatever choice you make, I recommend that you include in your loan contingency removal the following language: "Buyer hereby removes the loan contingency subject to the following: Seller and Buyer agree that if, after the removal of the Buyer's Loan Contingency and without fault of the Buyer - a change in the loan commitment or lowering of appraisal by Buyer's Lender, Buyer may terminate this Agreement and shall be entitled to the return of the Buyer's deposit."
       Navigating the Mortgage Maze has never been more difficult. If you'd like to be refered to a reputable local lender please feel free to email me, or give me a call.   MDLomas@gmail.com   or 415-789-7777



More Lender Horror Stories

Housing and the Economy

Mark Lomas 415-789-7777 — 2009-07-02T14:33:00Z

Visit msnbc.com for Breaking News, World News, and News about the Economy

Housing Flashes

Mark Lomas 415-789-7777 — 2009-06-21T02:17:00Z

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

Luxury Homes in Marin

Mark Lomas 415-789-7777 — 2009-06-09T23:57:00Z

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

The Anlyan Report

Mark Lomas 415-789-7777 — 2009-06-08T15:18:00Z

GM declared bankruptcy this week. After months of foreshadowing almost an anticlimax except to those directly affected--- dealers, employees, suppliers, automobile owners and buyers and a list of others. It used to be said that what is good for GM is good for the country. And what is not good for GM----------. Theoretically, after shedding substantial debt and unprofitable divisions the company will emerge leaner and more competitive. Remains to be seen. We wish them luck for the sake of all concerned. At the start of business on Monday, June 8, GM as well as Citigroup will be dropped from the Dow Jones Industrial Average. They will be replaced by Cisco Systems and Travelers insurance. Just goes to show that no company is too big to be subject to the basic rules of business and markets.

Dow Jones closed out the week today (6/5/2009) at 8763, up about 12 points and holding up pretty well but people watching all this are still wary, skittish, waiting for another shoe to drop, wondering if the Marin County housing market has hit bottom or still has further to go. Crystal ball says "answer hazy, ask again later", but previous cycles have shown that although it is difficult to exactly time the bottom of the market it is still beneficial to buy near the market lows, and easier to do on the way down than on the way back up.

Perception, it's how you look at things!

City-by-City Report for June 1 shows Novato and San Rafael still with very strong sales at 46% and 35% of listings in contract, respectively, followed closely by Corte Madera at 36% and San Anselmo at 33%. On the other end of the scale, Tiburon in the basement with only 5 of 111 listings in contract, or 4.5%. Kentfield next at 11%, and Sausalito at 14%. Mill Valley at only 19.7% or 39 out of 198 listings in contract, but this a steady and consistent improvement from 14% on May 5 and 10% on March 31.

Single Family Residences (SFR) in the County inventory actually down about 17 units from last report to 1230, of which 327 or 26% were in contract on June 2. Homes under $1million at 38% in contract (248 of 639), down just a bit from last report's figure of 40.25%. Upper end of the market still stuck due to challenges in obtaining "jumbo" mortgages. The money is out there but it takes time and determination to get the loans through for qualified borrowers. Well worth doing to take advantage of fabulous (I almost want to say "once in a lifetime") deals on purchase prices. YTD SFR sales at 479 units compared to 599 at this time last year, or down 20%. This shows continued progress from -21.5% at last report.

Condo's in the County at 37.62% in contract overall and 39% for units under $1million (all but 14 units). 179 units sold YTD as of June 2 compares to 149 at the same time last year or up 20%. As we have discussed before, average sales price for YTD units sold $363,326 vs. last year's $564,096 and days on market up from 95 last year to 114 now. Lower sales prices not an accurate representation of loss of market value because they also reflect to a considerable degree REO (bank-owned properties) "fire-sale" pricing and lower-end units on the market. Markets vary greatly by town, neighborhood, street, and specific complex and can be challenging to understand. Best bet is a local, experienced real estate agent who is familiar with current inventory and pricing and recent sales.

Fred Anlyan
Broker Associate
Coldwell Banker Greenbrae

Leslie Appleton-Young, Economist for the California Association of Realtors reports in the Marin Independent Journal:
Economist ties Marin to Nation's Housing Woes