I have never been ‘IN’ the Novato July 4th parade before.  A few times I was there, I was a bystander, watching for my then young sons marching down Old Town Grant Avenue as part of Novato Summer Music Institute Marching Band.  It was fun watching them, but I had never be IN one before.

Yesterday, I got the taste of actually being in the Parade while riding the truck with the Penguin Empire Robotics Team (San Marin High School Robotics Club).  I have to say that it was a lot of fun riding with the students, pretending that I was helping (yes, they knew exactul what to do). and waving to the bystanders (now that I am in it, I might as well enjoy the parade!)

The parade drew record entries and recrod crowds – presumably the difficutl economy kept a lot of people home during the summer; but being in Marin for the summer can not really be considered a hardship, I have to say.  

There were over 200 entries; including the perennial entry of fleet of antique tanks and military vehicles (a private collection, can you believe that?), basset hound parade and they are very serious about that (yes, hundreds of them and their proud owners – brings smile to my face everytime I think about that), MY personal favorite is the Pini Hardware Plunger Brigade, this year, with an automatic toilet built by Penguin Empire adviser Mike Sousa (I think Pini Hardware did the garbage can routine one year), many student groups – the Novato Summer Institute, Five Charming Lads from San Marin, San Marin Jazz Choir, Marin Summer Theater, Novato Unified School District, Various Novato schools and Novato School Fuel thanking Novato for passing Measure A+ for Kids campaign, dace clubs, Taken do clubs, anti-tax protesters, archers, musketeers, Coast Guard Strike Team, and much more.

It’s also fun to see so many friends and neighbors out there watching and enjoying the parade.  Novato, a town of 50K+ population, a lay-back and very friendly town can seem so small and personal where we seem to know everyone and care about everybody!

Oh, not to forget about the Penguin Empire Team – the students did great and the crowds were awed by the awesome robot whenever we stop (we did stop a lot more than we were allowed to).  The students remotely controlled the robot, drove it down the ramp, made some tight turns, performed a couple of routines (unfortunately, due to the crowd, we were not able to show the full potential of the robot) and drove it back up the float.  The crowds were quite enthusiastic about the robot and the team  

Here are a few picturs to share with you (Sorry, I was too busy to be IN the parade and did not have time to take as many picturers as I have liked!):

And the Parade is not complete without the viewers cheering us on!

Come and check out these fabulous new homes in a small new community of 9 homes on Olive Court. Back up to privately owned open space and centrally located, these 9 new homes boasts same architectual details and top-of-the-line constructions, materials similar to those in Olive Ridge with the convenience of close to downtown Novato, Trader Joes, future Whole Foods, future SMART Train stations and such.

Homes are single story homes and two story homes. One will come with a pool. Homes have granite slab counters, glass tiled backsplash, stainless steel appliances, beautiful cabinets, recessed and decorative lightning, cathedral ceilings, beautiful fireplaces, hand rubbed hardwood floors, build-in cabinets in family room, central heat and central air conditioner; GREEN FEATURES and much more… 

3 OLIVE COURT A PLAN $899,000

• 2,840 sf living space (approx)
• 11,204 sf lot (approx)
• Single Story 3 bedrooms, 2.5 baths
• Office/Hobby Room
• 19 foot ceilings in living room
• 2 car garage
• Centrail Air Conditioning

19 OLIVE COURT, C PLAN, $999,999

• 3,444 sf interior space (approx)
• 9,369 sf lot (approx)
• 5 bedrooms, 4 baths
• butler’s pantry
• Backs up to Open Space
• 3 Car tandem garage
• Centrail Air Conditioning

27 OLILVE COURT, C PLAN, $999,000

• 3,444 sf interior space (approx)
• 9,632 sf lot (approx)
• 5 bedrooms, 4 baths
• Butler’s pantry
• Backs up to Open Space
• 3 Car tandem garage
• Central Air Conditioning

CHECK OUT SOME INTERIOR PICTURES OF THE HOMES – BUT NOTHING BEATS COMING OUT AND SEE THEM FOR YOURSELVES!!!

ARTIST RENDERING OF THE ESTABLISHED NEW OLIVE COURT COMMUNITY

SEARCH AND SAVE HOMES FOR FUTURE REVIEW?

CLICK SEARCH FOR MARIN/SONOMA HOMES 

Sylvia Barry
Frank Howard Allen
Cell (415)717-0293
Search and Save Homes for Future Review? Click http://www.sylviasellsmarin.com/SearchMarin/SonomaHomes
website www.SylviaSellsMarin.com #1 Marin, Sonoma Real Estate Resource

MARIN COUNTY BANK OWNED / REO / FORECLOSED HOMESUPDATED 06/06/09 Due to strong demand from my past and current clients and the interest from the prospective clients, I am providing you with list of current Bank Owned (REO – Real Estate Owned, and Foreclosed) homes.  The list will be updated freqeuently depending on relevant activities.   (Word of Wisdom from your Realtor -  In addition to REO (Bank Owned) properties, there are GREAT Deals out there if you look hard enough.  I will be able to help you to find the best deal and best house in Marin and Sonoma county for you, Bank Owned or Not!Come back for a new Blog ‘Tale of a Short Sale’, about my client’s latest Short Sale purchase, which hopefully I will be able to post within a day or two)  The towns included in this list are Marin County towns South Marin, Central Marin, North Marin and West Marin (yes, we even have a few in South, Central and West Marin).  Specifically: Belvedere, Bolinas, Corte Madera, Dillon Beach, Fairfax, Greenbrae, Kentfield, Lagunitas, Larkspur, Mill Valley, Muir Beach, Nicasio, Novato, Marin County, Olema, Point Reyes Station, Ross, San Anselmo, San Geronimo, San Rafael, Sausalito, Stinson Beach, Tiburon, Tomales Single Family Homes, Farms and Ranches are in one link; and Condos/Townhomes are in another link.  Note that the link expires in 30 days (Per MLS rule). Marin County Bank Owned Single Family Homes   Marin County Bank Owned Single Family Homes (Updated 06/06/09) It has been close to four months since I last (02/20/09) posted Marin REO proeprties - taking care of my clients tends to get in the way of posting online.  However, never hestiate to email me if you need current info. Many homes went into escrow since March for quite a few reasons:  Obama Stimulus plan gave optimism in the market as a whole; first time homebuyers taking advantage of the up to $8,000 tax credit from the government, interest rate was the lowest (4.875% for 1 pt., 30 year conforming… although inching up) for a long time, consumers believe the market has hit the bottom (as evident by many multiple offers recently), lenders are open to loan modifications (we have heard quite a few successful loan modifications), short sales are getting easier to approve, less stress for buyers, and much more.   The most famous, but oh, so accurate line is: “The Bottom of the Market is hindsight” - You only find out you have reached (actually, passed) the bottom of the market is when you look back.  Don’t be the one who missed out on the opportunity. Changes between 02/20/09 and 06/06/09!  103 Totals!   16 Active - Best Deal – Check out Sun Lane property in Novato; over 1/2 acre lot. Sold in 2004 in original condition for close to $900K.  Gorgeous location in Pleasant Valley.  The owner completely remodeled the house and the house is now a bank owned property for $629K – as another agent in my office said; this is a screaming deal!!!  29 Pending 7 sold between 02/20/09 and 02/28/09 14 Sold in March 13 sold in April 22 sold in May  2 closed since June 01/09. Changes between 02/20/09 and 06/06/09 for: Marin County Bank Owned Townhomes / Condos Marin County Bank Owned Townhomes / Condos 90 Total Listings -  18 Active 19 Pendings 4 SOLD between 02/20 and 02/28/09 18 Sold between 03/01 and 03/31/09 18 Sold between 04/01 and 04/30/09 11 Sold between 05/01 and 05/31/09 and…  2 Sold since June READY TO BUY (or not quite yet?)  Call your trusted Realtor to give you personalized updates... This is our profession and we should NEVER be TOO BUSY to help you!

 

A controversial project due to the sheer size, the location and what it is and what it is not (a bit vague?  Ask me!), Millworks Novato had it’s grand opening today (April 25th).  What a pleasant surprise the development is!

As a Novato resident and a Realtor; although I missed the design, approval phases of the project; I, as many Novatans,  have watched with great interest and concerns in the progress of the building.   Today, I got to tour Millworks with my friend, Barbara.  We came away quite impressed!

Millworks – According to the developer, Millworks Novato is “Nestled among the North Bay’s rolling hills landscape, charming Old Town Novato is the home to Millworks, and environmentally sustainable and pedestrian-friendly new home community”. 

Millworks Novato

The building, sits atop the coming-soon Whole Foods,  located at the east end of Old Town Novato, consists of 124 flats and townhomes.  The homes are designed to be a combination of 1 bedroom/1 bath, 2 bedrooms/2 baths flats and 2 bedrooms/2 baths plus Den Flats. 

Amentities — Other than a few larger units on selected locations; first and second floors are mostly for Whole Foods and parking for Whole Foods and third floor is mostly for residents parking.  In addition, there is a library, a fitness center and a social room for gatherings.

'Roof Garden - Living Roof' on 4th Floor

Roof Garden – One of the Millworks’ most unique design is the rooftop garden on the 4th floor where the interior units all have patios on the ‘Roof Garden’.  This Living Roof - centrally located with open sky courts – have living gardens and flag stone patiors, gives the 4th floor residents a sense of being on the ground floor which is a very appealing, surprising feature!

Views Galore – For outdoor lovers, the floor to ceiling windows brings tons of sunshine and the breathtaking surrounding Novato hill views inside.  I can only imagine how beautiful the night time views will be with the twinkling lights from the distance.

Kitchen and Living Room

The Interiors - Millworks have open floor plan where kitchen opens into living and dining rooms (area - depending on plan).  Kitchens have granite slab counter tops, break fast bar, Bosch stainless steel, Energy Star appliances, Kohler sinks and faucets.  Bathrooms have Kohler faucets, Marble slab counters and surrounds on bathtubs.  Dual flush toilets conserve water.   All units are equipped with air conditioners (although I always say that we really don’t need that in Novato – the breeze from the ocean cools down most hot days by night).  Schlage hardware, recessed lighting, sustainable flooring, cable ready.

Green Features at Millworks

Building and Living Green – Millworks is also designed with ‘Building Green’ in mind as Sustainable is a big concern for environmental minded Marin Residents.  The building is designed with

• Money Saving features such as emergency efficiencies while determining the direction of the building (South facing), insulation grades,  dual paned windows, doors, Energy Star appliances..
• Preserving Health – such Cabinet doors are free of formaldehyde, none-toxic and low VOC Materials are used throughout
• Environmentally Sustainable- Pre-engineered lumber, waste recycling during construction, Build-in recycling centers, sustainable flooring’s and cross ventilation windows are some example of the environmentally friendly design.

The Units and Pricing – One Bedroom / One Bath unit (812 sf to 883sf) starts from the low $400,000s; Two Bedroom / Two Baths Flats (1260 sf to 1360 sf) starts from the mid $400,000s and the Two Bedrooms, Two Bath plus Den Falts (1452 sf to $1595sf) starts from the high $500,000.  

HOA Fees – HOA fees ranging from $393 to $494 monthly.  An interesting chart provided by Millworks compares  HOA fee to the average single-family detached homowner’s regular maintenance cost per year, and of course, Millworks HOA seems more reasonable according to the chart - email me if you are interested!

Keep in mind the price includes standard features, and any and all upgrades will be additional costs to the buyers.

As a baby boomer and looking forward, I thought this will be a great place to retire – low to no maintenance, single story (elevator up/down), walk to town, new, green building, etc.  Having a Whole Foods downstirs works well also.   However, as a  young, single professional living in Chicago many years ago, I also enjoyed staying in downtown highrise for the amentities it provides (Millworks is not close to the 45th floor I was on before).  

Releases - The current plan the developer has is to release 10 homes at a time while gauging the interest ,control inventory and proper pricing. 

Tax Credit - And don’t forget the Federal First Time Homebuyer Up to $8,000 Tax Credit as well as the California State Up to $10,000 Tax Credit for purchasing new contrustions !

Interested in Checking out Millworks? - I enjoyed my visit to Millworks with Barbara.  Let me know if this stirs up your curiosity.  Please give me a call (415) 717-0293 or email me at sylvia@SylviaSellsMarin.comif you want to check out Millworks.  I would love to come with you and get your input about the building that changed the face of Old Town Novato, For Better For Worse, and hopefully, since it’s already here, we will make it ”For Better’ because that’s the only way we can all benefit! 

In order to stimulate purchases of newly constructed homes as well as encouraging home ownership; the State of California has issued a (up to) $10,000 tax credit for homebuyers of new contruction properties.

 

Here are the details of the plan:

 

1)  This credit only applies to new homes that will be used as a primary residence and is limited to the first 10,000 new home purchases.

 

2)  The credit is for $10,000 or 5% of the home’s price, whichever is less.
 

3)  There is no down payment requirement to receive the $10,000 tax credit.

 

4)  There are no maximum income limitations so any buyer purchasing a new home can qualify.
  

5) The $10,000 tax credit is just that, a credit, not a loan, so if the home remains your primary residence for two years, you do not have to pay any portion of the tax credit back. If you sell the home in less than two years, then it has to be paid back at time of sale.
  

6) The new home cannot be located outside of the United States and it cannot be inherited property or a gift.

April 2, Thursday, hike a moderate/easy 1A hike in Muir Woods, via Fern Creek and Camp Alice Eastwood. Meet at 9:30 at Miller and Locust in Mill Valley (at the bus stop). Back by 1.30. Share carpool costs. Rain cancels. Sponsored by the Marin Group Sierra Club.

April 3, Friday, the Marin Bushwackers Hiking Club presents a two-hour, “exhilarating and educational, off-the-beaten-track hike for in-shape hikers.”?  Meet at Tennessee Valley Trailhead gate at 5:30 p.m.?  For more specific directions and information, call John at (415) 331-0100.

April 4, Saturday, Two-hour  hike on moderate trails with md-hike wine and cheese sevrved overlooking the pacific, followed by optional dinner and socializing at the Mt. Home Inn. Meet at 4:30 p.m. in the parking area across from the Inn on Panoramic Highway in Mill Valley. Cost is $15. Sunset Hike and Dine Club. To reserve a spot, call (415) 331-0100.

The Fairfield Osborn Preserve offers Saturday hikes through May 16 so visitors may observe the diverse fauna and flora of the popular nature preserve on Sonoma Mountain operated by Sonoma State University. Tours are appropriate for families, friends and individuals. Visitors should be able to hike two to four miles over uneven ground. Sturdy shoes, long pants, drinking water and a snack are highly recommended. General admission is $3. Visitors 12 and younger are admitted free.

Hikes are held every Saturday at 10 a.m. There will be no hike on April 18. The Fairfield Osborn Preserve is located at 6543 Lichau Road in Penngrove. For more information or directions, call (707) 795-5069 or e-mail fairfield.osborn@sonoma.edu or visit online, www. sonoma.edu/org/preserve.

On Thursday, April 9, hike nine miles from Mill Valley towards Sausalito. Discover this 1A easy Bay path from East Blythdale Avenue in Mill Valley along the Bayside towards the Bay Model, guided by a docent . Meet at 9:30 a.m. in front of the Maria Maria restaurant at 651 East Blythedale Ave. in Mill Valley. Return by 1:30 p.m. Rain cancels. E.mail-rgwatson@pacbell .net. or call (415) 461-9255.

Sunday, April 12. Angel Island picnic and hike. An easy 2A hike with 360-degree views of all the bay, and to see results of the Angel Island fire. Hike to the top of Mt. Livermore and then have lunch on the beach. Bring liquids and a potluck dish for 6 to share. Meet at 9:45 a.m. at the Angel Island Ferry dock in Tiburon. $13.50 fare. Back by 4 p.m. Rain cancels. E-mail rgwatson@pacbell.net. or call (415) 461-9255.

Thursday, April 16. China Camp. Explore the Shoreline Trails of China Camp in San Rafael. An easy 1A hike. Meet at 9:30 at the Civic Center Post Office on San Pedro Road in San Rafael. Back by 1:30 p.m. Share carpool costs. Rain cancels. E.mail-rgwatson@ pacbell.net.

Thursday, April 23: Ocean view trail. A moderate/long 1A hike from Rock Springs to the Top of Cataract Falls with a view of the ocean and Stinson Beach. Carpools from Miller and Locust at the Mill Valley bus stop at 9:30 a.m. Back by 2:30 p.m. Rain cancels. E.mail rgwatson@pacbell. net or call (415) 461-9255.

Sunday, April 26. Lakes and waterfalls hike to Bass Lake/Alamere falls. A 2A moderate hike from Palomarin trailhead. Bring towels if desired for an optional dip in Bass Lake. Meet at Fairfax Parkade at 9:30 a.m. Rain cancels. E.mail rgwatson@pacbell.net or call (415) 461-9255.

Thursday, April 30, hike the Dipsea Trail and Muir Woods. A moderate 1A/B hike on the Dipsea trail and through Muir Woods. Meet at Miller and Locust in Mill Valley (at bus stop) at 9:30 a.m. Return by 1:30 p.m. Share carpool costs. Rain cancels. E.mail rgwatson@ pacbell.net or call (415) 461-9255.

May 3. Sunday. Drakes Estero. A moderately paced and a most charming 2B tour to the ocean of the beautiful Drake’s Estero area on Point Reyes. Carpool at 9:30 a.m. from Fairfax Parkade (opposite Fairfax Theater). Back by 5 p.m. Bring lunch and liquids. Share carpool costs. Rain cancels.

May 7. Thursday. Blackie’s Pasture. A very easy 1A from Blackie’s Pasture. Hike from the parking lot at Blackie’s Pasture towards Tiburon and back, stopping at a yummy bakery with a fabulous San Francisco view. Meet at 9:30 a.m. at Blackie’s Pasture on Tiburon Boulevard. Back by l p.m. Bring your taste buds.

Sylvia Barry, Realtor, ePRO
Marin Realtor for Marin Luxury Real Estate
Marin, San Francisco North Bay
Frank Howard Allen Realtors
website: www.SylviaSellsMarin.com
Blog: www.AllAboutMarinHomes.com

SERVING MARIN, SONOMA, S.F. BAY AREA – FOR ALL YOUR REAL ESTATE NEEDS Beveldere, Corte Madera, Greenbrae, Kentfield, Larkspur, Marinwood, Mill Valley, Novato, San Anselmo, San Rafael, Sausalito, Tiburon; Cotati, Penngrove, Petaluma, Rohnert Park, Santa Rosa.

 Millworks Novato (going strong with a lot of interest -check with Sylvia to see)

Novato Real Estate Market started to pick up after the gloomy winter – Yes! (by the way, is there such a thing as gloomy winter in Marin?  – we are so spoiled, when there are more than a drizzle and a little bit of wind, we complaint about the weather and then secretly congratulate ourselves for being in such a wonderful place – there is a premium there :-))

Thanks to the press, both prnt and online and yes, the Obama Stimulus plan, the buzz out there is this is a great time to BUY in Marin county.  Finally, we have affordable prices (o.k. affordable is a relative term), but more affordable houses here in Marin.

The condo/townhome cotinue to pick up pace, as well as the below $500K single family homes.  These are the ones that went thru the worst downturn and were the ones who led the short sale / foreclosure pact, but are now being recognized as the best purchases in town.  

Many former renters find it costs them less to own than to rent; in the mean time, they are able to enjoy the write offs from owning a home. 

That buzz drives the market right above it to go up.  ’Starter’ homes up to $700,000 saw across board increases in % Pending.  Being able to sell the condos and entry level homes means they can also move upward.  

This allows the $500K – $700K homes to see the biggest surge in % pending. 

The $800K and up range still lag behind – many are waiting for lenders to come up with the policy for Super Jumbo (between $625K and $729K) pricing structore.  Other move up buyers have their homes on market, are relunctant to ‘buy contingenty upon sale’ are hoping to sell and move into upper end houses here in Novato.  

Overall inventory starts to climb, as we expect it to be in Spring.  Homes for sale went up 25 homes, from 305 to 330 in a month (March to April). With the slower release of foreclosures, the inventory is not growing as much as we thought it would.   

Make Sure You are not waiting for the ’bottom’ of the market. Remember, that is always hindside, by the time you look back, the bottom has already came and went. 

Call Sylvia now to discuss the market and the trend, get familiar with the buying process, and start hunting.  It’s never too late to get ready.     

Give me a call at (415) 717-0293 or email me at sylvia@SylviaSellsMarin.com for inventories on the market, whether REO, Trust Sale, start home, luxury homes.. I will be very happy to find the best house / investment property for you! 

It will be my pleasure to serve you!  

category		Total Units/ In Escrow		% Active		% Pending	% +/- since 09/10/08
All SFD’s and CID’s		330/120		64%		36% (N)	+1%
SFD’s		231/75		68%		32% (N)	+2%
CID’s		99/45		55%		45% (S)	+0%
$0 -$500K SFD		64/34		47%		53% (S)	+2%
$500,001-$600K		35/15		57%		43% (N)	+15%
$600,001 – $700K		27/10		63%		37% (N)	+9%
$700,001 - $800K		28/7		75%		25% (N)	-2%
$800,001 – $999,999		35/2		94%		6% (B)	+2%
$1M – $1.25M		18/2		89%		11% (B)	-2%
$1.25M – $1.5M		14/3		79%		21% (B)	+3%
$1.5M+		10/2		80%		20% (B)	-13%

• Buyer’s Market  < 25%
• Neutral                25% – 40%
• Seller’s Market   > 40%

 

 

 According to Kentfield Architect, Sarah Robinson, an Alumni of the Frank Lloyd Wright School of Architecture; that Being Green is not just to tear down and build from scratch but it’s about “Seeing the untapped potential that already exists.” Kentfield, Marin County Architect, Sarah Robinson, was thrilled, when her house earned the ‘Most Sustainable Renovation’ Award from the prestigious Metropolitan Home Magazine. www.Methome.com

Robinson’s 1963 fixed-upper home incorporated the following winning features:

1) Retain and Expand upon the original mid-century contemporaries design. Robinson’s usage of rich wood, glass, American clay plaster and copper echoed the ’sensual surfaces’ from the outdoors. She also retained the original custom mahogany paneling and cabinetry.

2) Resourcefulness- Adding 1200sf space (office, family room, extra bedroom) blow the building allows Robins the retain the original footprint of the building. Large dormer captures light and provides views of outdoors

3) Usage of Reflective Surfaces Such as stainless steel, high gloss woods, glass cabinets, white ceilings makes the most of the natural light that streams into the space.

4) Reused 80% of the original building material and incorporated with recycled materials from other sources – including reuse of the redwood framing from the attic for additional trim, exterior siding and new kitchen dormer. She also bought the seconds from a local tile manufacturer (Heath Ceramics in Sausalito).

5) Incorporated the outside environment to be the primary decorative feature for the home by using ‘floor-to-ceiling glass’, adding skylights and creating a large dormer to bring the outside in.

6) Usage of Energy-Efficient Mechanical Systems Suchas soy-based form insulation, Eco-friendly American clay plaster, no-VOC paint and double-paned windows.

Footnote – I was contemplating about what to write for the RED HOT contest on ActiveRain eCO-All Star Group’s March challenge, and my upcoming presentation to my Rotary Club (of Novato Sunrise www.Novatosunriserotary.org  about LEED and Local Green Buildings, when the Marin IJ Article about Local Architect, Sarah Robinson’s winning design caught my eyes. This is an excellent, timely example of how to creat a “RED HOT” Eco-Friendly, Sustainable Home while thinking Creatively Outside of the Box.

The idea of not having to build an eCO-friendly building from scratch, using recycled, reused, local materials to avoid the commonly expensive GREEN features, which is the main concern in a heathy economy and a huge hinderance in the current dismal economy while creating stunning buildings in the process makes this RED HOT for me!

* The post incorporated information from Met Home and Marin Independent Journal. – a news article caught my eyes and just in time for the RED HOT entry!

Stafford Lake, Novato, CA

The last time I did a blog post on Novato Real Estate Market Statistics was back in November, 2008 – almost seems like an eternity; so much has happened in the past four months.  I have to say, the fun and challenge is all in there.   

Novato Real Estate Market statistics stays pretty flat with a few big gain in percent pending - under $500K starter single family homes had a gain of 10% to a strong sellers market at 51% pending; the midrange, properties between $700K and $800k enjoyed an 8% increase in pending.  The total now reach 27%, moving towards the right direction. 

The Biggest gais are the over $1,25M market – I guess people with money can take advantage of the softening market and buy luxury homes when the prices are low; a couple I know bought with cash! One thing to keep in mind is that due to the very small volume of the homes avaialbe, a house or two sale makes a huge difference percentage wise. 

The ratio is held steady by dwindling inventory – overall inventory dropped by another 20%, from 370 to 305. This can be attributed to several reasons -

* The normal beginning of the year brings slower new inventories

*  The bail out plan gives many home owners hope and they decided to refinance or negotiate for a ’loan modification’  Whether they will get their loans modified is irrelevant for this moment.  The reality is it brings down the available homes market. 

* Sellers are holidng onto their properties for the right moment - either the prices go up or when they HAVE to sell.  This also limits the inventory.

This is a great time to buy, with bargains abound, whether it’s in Novato, San Rafael or Southern Marin.  Bank owned homes or sellers with plenty of equity are pricing homes low to attract multiple offers. 

Make Sure You do not spend TOO MUCH time waiting for the right price and when you finally buy, you already missed the bottom of the market.

Just Remember, The Bottom of the Hill is all hindsight – You don’t know it’s here and when you discover it’s the bottom, you have already missed it!

Give me a call at (415) 717-0293 or email me at sylvia@SylviaSellsMarin.com for inventories on the market, whether REO, Trust Sale, start home, luxury homes.. I will be very happy to find the best house / investment property for you! 

It will be a pleasure to serve you!  

category		Total Units/ In Escrow		% Active		% Pending	% +/- since 09/10/08
All SFD’s and CID’s		305/107		65%		35% (N)	+6%
SFD’s		207/63		70%		30% (N)	+7%
CID’s		98/44		55%		45% (S)	-2%
$0 -$500K SFD		61/31		49%		51% (S)	+10%
$500,001-$600K		32/9		72%		28% (N)	-2%
$600,001 – $700K		29/8		72%		28% (N)	-2%
$700,001 - $800K		26/7		73%		27% (N)	+8%
$800,001 – $999,999		24/1		96%		4% (B)	-6%
$1M – $1.25M		15/2		87%		13% (B)	-4%
$1.25M – $1.5M		11/2		82%		18% (B)	+18%
$1.5M+		9/3		67%		33% (N)	+24%

• Buyer’s Market  < 25%
• Neutral                25% – 40%
• Seller’s Market   > 40%

 

---

 

Sylvia Barry, Realtor, ePRO
Marin Realtor for Marin Luxury Real Estate
Marin, San Francisco North Bay
Frank Howard Allen Realtors
website: www.SylviaSellsMarin.com
Blog: www.AllAboutMarinHomes.com

SERVING MARIN, SONOMA, S.F. BAY AREA – FOR ALL YOUR REAL ESTATE NEEDS Beveldere, Corte Madera, Greenbrae, Kentfield, Larkspur, Marinwood, Mill Valley, Novato, San Anselmo, San Rafael, Sausalito, Tiburon; Cotati, Penngrove, Petaluma, Rohnert Park, Santa Rosa.

This post addresses the Federal Tax Credit for Qualified First Time Home Buyers.  Look for new post for California Tax Credit.

Note that the Federal and California tax credits are very different from each other, and the methods for claiming the credit are likewise very different.

The good news is that the first time home buyer credit allows qualifying home buyers who bought their homes between April 8, 2008 and December 1, 2009 to claim their first home buyer tax credit.

This summary is provided for general information only and does not apply to any individual situation. Remember to advise all buyers who are interested in qualifying for either or both of these credits to consult with their own tax advisors.

FEDERAL TAX CREDIT (FIRST-TIME BUYERS ONLY)

Amount: $8,000 if home purchased in 2009, but no more than 10% of the purchase price of the home (half that amount if married filing separately). $7,500 if purchased before 2009.

Expires: December 1, 2009

Only First-Time Homebuyers Can Claim the Credit: In general, buyers can claim the credit if they are a first-time homebuyer.

 Buyers are considered a first-time homebuyer if:

• They purchased their main home after April 8, 2008, and before December 1, 2009.
• The buyer (and spouse, if married) did not own any other main home during the 3-year period ending on the date of purchase.

Main home. A main home is the one the buyer lives in most of the time. Not limited to new construction. It can be a house, houseboat, house-trailer, cooperative apartment, condominium, or other type of residence.

The Credit Cannot Be Claimed If:

• The buyer’s modified adjusted gross income is $95,000 or more ($170,000 or more if married filing jointly).
• The buyer is a nonresident alien.
• The home is located outside the United States.
• The buyer acquired their home by gift or inheritance.
• The buyer acquired their home from a related person.

No Repayment of Credit: There is no repayment of this credit if the home is purchased in 2009. However, the buyer must repay the credit if the home ceases to be their main home within the 36-month period beginning on the purchase date. (Note: For homes purchased before 2009, the tax credit is subject to repayment rules.)