Fannie Mae Offers New Buyer Incentives on Homepath Homes

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New Buyer Incentive on Fannie Mae HomePath® Homes

Fannie Mae is offering buyers up to 3.5% in closing cost assistance on HomePath properties through December 31, 2010.

Buyers must meet the following qualifications to be eligible for the incentive:

  • HomePath property sale must close on or before December 31, 2010 and close within 60 days of offer acceptance
  • Only owner occupants purchasing a HomePath property as their primary residence will receive up to 3.5% in closing cost assistance
  • the initial offer must be submitted on or after September 23, close within 60 days of offer acceptance and close on or before December 31, 2010. No bonus will be given for investor purchases.
  • Buyers must request incentive upon submission of initial offer in order to be eligible.

Note: Offers submitted after November 15, 2010 may be difficult to close by incentive deadline of December 31, 2010.

Terms & Conditions:

  • The 3.5% seller contribution is to be used towards closing costs, including a home warranty, if desired and available.
  • Retail and public entities are eligible for the incentive however pool and auction sales, and sales to investors are not eligible.
  • Fannie Mae reserves the right to remove any property from promotion or end the promotion at any time. Any dispute over the payment of a bonus shall be resolved by Fannie Mae in its sole discretion.
  • Buyers should consult their lenders for guidance on financing. Lenders and mortgage products may impose their own limitations on the use of the 3.5% incentive. For example, the lender may consider the incentive a Seller Contribution and limit the amount to 3.0%. In those instances, the remaining 0.5% will no longer be available to the buyer.

See link to search for Fannie Mae Homepath Homes

Marin County Bank Owned/REO/Foreclosures as of 06/06/09

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!

 

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 – 

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!

 

find a Realtor

 

Novato Real Estate Market Overview, April 01, 2009

Millworks Novato

 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%

 

 

Marin County Bank Owned (REO, Foreclosure) Homes, Farms, Ranches. Update 02/20/09

Single Family Homes (Note – There is a Separate List for Townhome / Condo)

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 Advise 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!) 

The towns included in this list are Marin County towns South Marin, Central Marin, North Marin 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

Marin County Bank Owned Single Family Homes   Marin County Bank Owned Single Family Homes

Updates since 02/08/09 –  4 SOLD – A couple all cash sales, a couple over asking prices.

38 Total Listings – 30 Active, 4 Pending, 4 Sold

  • New –  1611 Center Road, Novato, 
  • Pending – 24 Elmwood Court, Novato
  • Pending – 1212 Lynwood Drive, Novato
  • Pending – 52 Austin Avenue, San Anselmo
  • Pending – 26 Stasia, Novato
  • Sold – 1 Plaza Loma, 3/2, 1092 sf $410,000
  • Sold – 8 Wilson Hill Court, Novato, 3/2.5, 2388sf, $530,000
  • Sold – 25 Durham Road, San Anselmo, 4/2, 1533sf $573,500
  • Sold – 931 Butterfield San Anselmo, 3/2, 2115sf $875,000

contact a real estate agent

_________________________________________________

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

 MARIN, SONOMA, S.F. BAY AREA REAL ESTATE – Beveldere, Corte Madera, Greenbrae, Kentfield, Larkspur, Marinwood, Mill Valley, Novato, San Anselmo, San Rafael, Sausalito, Tiburon; Cotati, Penngrove, Petaluma, Rohnert Park, Santa Rosa. Starter Home to Luxury Property. REO (Bank Owned), Short Sale, View Homes, Architecural Distictive Homes. Investment, 1031 Exchange. Chinese Realtor.

Marin County Bank Owned (REO, Foreclosures) Homes – Townhomes, Condos – updated 02/20/09

TOWNHOME / CONDOS – 02/20/09 (Note there is separate post for Single Family Residence)

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 Advise 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!) 

The towns included in this list are Marin County towns South Marin, Central Marin, North Marin 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

Marin County Bank Owned Townhomes / Condos Marin County Bank Owned Townhomes / Condos

Updates since 02/08/09 –  28 Total Listings – 22 Active, 4 Pending, 2 Sold

  • New – 7 Oak Crest Court, Novato – 3/2, 1460 sf – Western Oaks, Best Deal!
  • New – 2 Park Crest Court #C, Novato – 3/2.5 1460 sf. – Western Oaks, closer to Redwood Blvd
  • New – 47 Sequoia Glen, Novato – 3/2.5, 1529sf.  South side of Redwood Blvd.
  • New 35 Fairfax St #27 – San Rafael – Bahia, 2/1, 864 sf, Grerat Investment
  • New 241 Playa Del Rey, San Rafael – Bahia, 3/1.4, 1116 sf
  • Pending – 110 Oliva Court, C, Novato
  • Pending – 17 Oliva Drive, E, Novato
  • Pending – 12 Oliva Drive, D, Novato
  • Pending – 1289 Maple Court, C, Noavto
  • Sold – 50 Sonoma St #7, San Rafael $100,000
  • Sold – 25 Andrew Drive, Tiburon, $151,000 (Unbelievable low price for Tiburon, but NOTE – This property’s current tenant has a recorded legal 75 year lease at $1,285/month rent controlled.  There is 48 years remaining on lease.

 contact a real estate agent

__________________________________________________

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

 MARIN, SONOMA, S.F. BAY AREA REAL ESTATE – Beveldere, Corte Madera, Greenbrae, Kentfield, Larkspur, Marinwood, Mill Valley, Novato, San Anselmo, San Rafael, Sausalito, Tiburon; Cotati, Penngrove, Petaluma, Rohnert Park, Santa Rosa. Starter Home to Luxury Property. REO (Bank Owned), Short Sale, View Homes, Architecural Distictive Homes. Investment, 1031 Exchange. Chinese Realtor.

Marin County Bank Owned / REO / Foreclosures

Due to strong demand from my past and current clients and the interest from the prospective clients who might not have been able to purchase a home during the past sellers market, I will be providing you with list of current Bank Owned (REO – Real Estate Owned, and Foreclosed) homes. The list will be updated on a daily basis.

(Word of Advise from your Realtor – One thing I would like to stress is not to get hung up on ‘Bank Owned’ – They may or may not be the best deal in town. There are GREAT Deals out there from motivated sellers who understand the market and who need/want to sell. I will be able to help you to find the best deal and best house for you, Bank Owned or Not!)

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

I will include Single Family Homes, Farms and Ranches in one link; and Condos/Townhomes in another link:

* Marin County Bank Owned Single Family Homes

* Marin County Bank Owned Condos / Towhomes

 

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

MARIN, SONOMA, S.F. BAY AREA REAL ESTATE – Beveldere, Corte Madera, Greenbrae, Kentfield, Larkspur, Marinwood, Mill Valley, Novato, San Anselmo, San Rafael, Sausalito, Tiburon; Cotati, Penngrove, Petaluma, Rohnert Park, Santa Rosa. Starter Home to Luxury Property. REO (Bank Owned), Short Sale, View Homes, Architecural Distictive Homes. Investment, 1031 Exchange. Chinese Realtor.

Make Dreams Real – Rotary Club of Novato Sunrise Youth Services

How does Marin REO, Bank Owned, Short Sale Affect Marin Housing Prices?

14defaults_mdHow do Foreclosures, REOs (Bank Owned), Short Sales affect the Marin Housing Market? A question often discussed on the national, regional and local newspaper, but none can be better answered by your local Realtor.

Being a Marin Realtor active on many major online forums, I have been chatting online on and off with a future Marin (I think, or at least I hope, she is finally favoring Marin county after a year’s research) buyer for the past year.

marincountyreoShe has been on the fence to buy properties in Marin for just as long; mostly because she misses SoCal with warmer beaches, for personal reasons and, I think, having difficulty adjusting to the higher housing price in the Bay Area; especially Marin – Wanting an excellent location, great house, wonderful schools, but the higher price makes her think twice, …., and changes are always hard!

So, a year later, she posted a question about Marin Housing Market… she wonders if the future of foreclosures and REOs (Bank Owned Homes) in Marin will have an impact on the overall pricing.

Here is my answer to her question on how the foreclosures and Bank Owned properties are affecting Marin Real Estate Market:
———————————————————————-
“First, as I have always said, and I stand by that statement – Marin county, due to it’s unique qualities, does hold its value compare to other areas. Marin Real Estate value, although dropped some, will go back up sooner – but you have heard my preaching on that before, so I won’t go there.

As it’s in any market, the fundamental is if there are foreclosures and REOs, the price will go down; both due to the nature of foreclosures and REOs but also due to the fact that sellers that do HAVE to sell are realizing that fact, though, very reluctantly.

Novato, the north most part of Marin county has seen the blunt of it; especially the condo/townhome market, and entry level homes, but the trend also trickles down to the higher end market – really good for home buyers like yourself.

Southern Marin has largely been unaffected, but we are seeing a slow trend to go towards that way. Since those houses were mostly purchased with more equity in the homes, most are safe, but you do have very few that are not. Those will be the ones who suffer and bring down the values.

Some effect is also due to the general economy, which, for the first time in many years, affected the high tech and financial sectors; which in turn, affect the affordability of the higher end market here and in other desirable places of the Bay Area. You will see some of those houses, not nearly the magnitude of the lower end housing, but few will also go on the distressed list and prices in those dropping slightly.

On the flip side, Marin is Marin, and people do love Marin – make sure you go to http://www.SylviaSellsMarin.com to read about Marin County!

moneysign1The buyers who could not afford before, the bargain hunters, the ones who sold their homes before the market drop and are renting now, the investors, ..,etc are taking full advantage of this market and the declin(ed,ing) interest rate.

I know, because we have weekly office meetings discussing the traffic (and Frank Howard Allen is the #1 company in Marin county) and I personally hold open houses almost weekly for my sellers (always nice to get that one more buyer in for my sellers) and in doing so, I get a pulse of the market and customers, I see them out there.

A great deal is a great deal and they jump in there. Multiple offers and even flipping on homes are back again, and people with large down payments as well as cash buyers are moving in.

My clients and I looked at many areas, tons of houses, spend lots of months, and at times, write several offers before they get the best deals on the houses they want and need. But that’s what it takes in Real Estate, before, now and in the future, to get the right house

If you have a Realtor – and you should get one who will look out for your best interest – he/she should do the same for you. .

As always, I would love to actually talk to you about this and provide you with details. So, drop me an email or give me a call, if you will.

Best wishes in 2009!
Sylvia

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

MARIN, SONOMA, S.F. BAY AREA REAL ESTATE – Beveldere, Corte Madera, Greenbrae, Kentfield, Larkspur, Marinwood, Mill Valley, Novato, San Anselmo, San Rafael, Sausalito, Tiburon; Cotati, Penngrove, Petaluma, Rohnert Park, Santa Rosa. Starter Home to Luxury Property. REO (Bank Owned), Short Sale, View Homes, Architecural Distictive Homes. Investment, 1031 Exchange.

Make Dreams Real – Rotary Club of Novato Sunrise Youth Services