Marin County Real Estate Market Blog | Marin Market Trends

 The IRS recently ruled in the taxpayer’s favor that it will not follow a tax court ruling that limited the amount of deductible home mortgage interest to $1 million. In short, the IRS ruling allows a taxpayer to deduct mortgage interest on up to $1.1 million of debt that is used to acquire, construct, or substantially improve a primary or second home, provided there is at least $100,000 of home equity securing the loan. The IRS rejected the tax court's holding that a taxpayer must demonstrate that debt treated as home equity indebtedness was not used for acquisition purposes because the definition of "home equity indebtedness" in the tax code §163(h)(3)(C) contains no such restriction. For many years, the interpretation of the deductibility of mortgage…
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Looks like the February summer weather is over and we're back to some chilly days and intermittent showers. Our tanks are already full and the landscaping is healthy but if nothing else, the rain means snow in the mountains for all those Marin skiers and snowboarders. Healthy also seems to be the current status of the Marin current real estate market and for the most part, the outlook looks promising. We are very busy with eager buyers looking for homes while the interest rates stay low, and willing sellers who see no drastic change in current pricing and have the desire to get on with their lives. There are currently just over 1000 homes -single family and condos - on the market of which 360 are in escrow. That's a  strong percentage of homes under

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The Marin luxury home market is very much alive and well  and the outlook for the year is excellent. There are currently 286 homes on the market in Marin over $1 million at a median price of $1.795, of which 50 are already in escrow and 9 have closed.  In the over $2million range there are 116 homes at a median price of $3.82 million and 15 of those are in escrow and 5 have already closed. The median price has remained constant since last year at the same time when it jumped 25% from 2009.

What we are seeing is more well qualified buyers looking for luxury homes now that prices have come down and they realize the long term upside of a luxury home in Marin is incredible. Although financing is available and interest rates are the lowest they've been in

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Because of the changing fronts on the economic and political horizon, and the resulting informational confusion, we're coming to the end of what has been one of the roughest and most frustrating years in Marin real estate. The overall economic outlook is one of a slow recovery from a deep recession. However, the economy faces some serious headwinds and there are several factors that will affect what that recovery might look like. Unemployment is a big one, and that will affect everyone, from the graduate who can't find a job and has to stay at home, to the breadwinner that has lost his job from downsizing. We expect the Fed to pump more money into the economy with a second round of quantitative easing (QE2), but continuing high unemployment could mitigate

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There are going to be some bumps in the road, and homeowners cannot expect any kind of discernible inflationary trend in home prices for a few years. Having said that, we all know that regardless of the market conditions, there sellers that have to sell and buyers that have to buy,  and there are some great opportunities out there.

From a seller's standpoint, what we know about the holidays is that January is traditionally the biggest month for transferees and re-location buyers and you need to make yourself available if you want to capture that market. We know buyers are also more emotional over the holidays, they are more serious, and they make quicker decisions, and they only see what is on the market at the time. In addition, as we said in our last

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Currently there are 1480 homes on the market in Marin and 28% of those are pending. The inventory is going to drop further in December and yet buyers do come out and buy over the holidays, so the pending  percentage will go up as the number of available homes drops.  Under $1million there are 1002 homes of which 33% are in escrow. In the $1 -$2 million range there are 289 homes of which 22% are in escrow and over $2 million there are 193 homes,  and only 12% are in escrow. This disparity is typical of all of California where there is far more activity in the lower price range. What is interesting is that in the luxury home arena,  we are seeing easier qualifying for loans and several all-cash deals. There are some very qualified buyers in the higher price

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We're heading into the last few months of the year and the real estate market is holding steady. The numbers have dipped slightly but some of that has to do with the time of year. There are approximately 1270 homes  on the market of which 316 are in escrow. That 27% in  escrow is the same as it was in our last report in June. Inventory is down and so is the number of sales, and the general public keeps getting inundated with the media reports on the volatile stock market, the stagnant employment  picture and the gruesome state of the California economy. So how does all this affect you as a homeowner? Here are the two most frequent questions we get asked:

1. Should we sell now to buy or wait for the market to improve? Answer: Time is not your friend in…
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 According to C.A.R. starting January 1, 2011, a seller's first trust deed lender cannot obtain a deficiency judgment against the seller after a short sale. This only pertains to the purchase money loan for the property. The Governor just vetoed the bill that would have extended California's anti-deficiency protection laws to cover re-finance loans. What this means is that if you have refinanced your home and are considering a short sale or going through one, and the amount collected on the short sale is less than the amount of the re-financed loan, you could be subject to a deficiency judgments for the balance. However, since every persons situation is different, and every  lender may have different  requirements, be sure you check with your financial

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123 Crescent Ave., Sausalito
$1,375,000

Living in Sausalito implies, water views, exciting architecture and living just a little on the edge. It implies a certain stylish sophistication but with a warmth and a novelty that makes for an exciting lifestyle. This home has all these qualities. With exotic curb appeal, this home delights the senses with dramatic vistas of the City and the bay from most rooms. There are two bedrooms, one and half baths on the main level and a separate bedrsuite/office with full kitchen on the lower level. 4928_02_400

Vaulted redwood ceilings and grandiose vistas from the many windows and skylights create exceptional light in this stunning contemporary home. The eyes wander over an interior that feels more like a sculpture than a home.

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San Anselmo is becoming more and more popular with buyers looking for that Marin town that "has it all". The town itself is small with unique shops, renowned antiques, boutiques and galleries with a wonderful choice of restaurants. The neighborhood is easily accessible to San Francisco with easy access to the freeway and has some of the best schools in the county with numerous playgrounds, parks and outdoor activities scattered throughout the area. There are certain neighborhoods within San Anselmo that offer choices of homes for every need and budget. Sleepy Hollow has larger lots and is close to open space, horseback riding and cycling facilities. There are several homes there that cater to  the  high end luxury market with gorgeous grounds.  The

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