Archive for the ‘Kentfield’ Category
Selling a home in areas served by the Ross Valley Sanitary District got a little more complicated as of January 1st. Thanks to the new Ordinance 66, when you list a property in Fairfax, Greenbrae, Kentfield, Larkspur, Ross, or San Anselmo you now will have to have a pressure test performed on the sewer lateral if the home is more than 20 years old or the lateral hasn’t been replaced in the last 20 years. Then if the line doesn’t pass the test it will have to be replaced, and as they are saying that pretty much any older sewer lateral will fail that test, basically it’s going to mean that everyone selling a home with an older line in the RVSD will need to replace it or negotiate with the buyer to take on that responsibility. This testing requirement is also triggered by any remodeling project that costs $75,000 or more or involves adding a bathroom.
This is a big deal. Replacing a sewer lateral is often a $6,000 to $10,000 job, but can be more than that if it’s a long run or a complicated situation. And to make matters worse for some sellers, the ordinance also says that shared laterals are no longer acceptable, so if your property shares a line with a neighbor you will need to create a whole new lateral, which could get really messy if that means you need permission to dig up your neighbor’s yard and there is no easement in place.
Sellers should keep in mind that RVSD has a lateral replacement grant program under which they will pay for half the cost of replacement up to $4,000, as long as money is available in the fund for the fiscal year. Since this new ordinance will mean a lot more people will be taking advantage of that program, it might be wise to get a jump on applying if you’re going to be selling a home with an older lateral and you’re considering just doing the work up front.
While we applaud efforts to fix faulty sewer lines and think it’s an important health and environmental issue, we’re not fans of placing the burden on homeowners at the time they go to sell their property. There should be a better way to handle this than making it a point of sale requirement.
As of this writing there is no info on Ordinance 66 on the RVSD website, which is a little surprising, but here is a link to the FAQ they have made available. We have a feeling you’ll be hearing a lot more about this issue in the coming months. Feel free to get in touch with us if you need advice about the best way to approach dealing with the issue when selling your home.
To be honest, Kent Woodlands seems like the sort of place chickens would be welcome, considering the big lots and rural feel, but apparently the CC&Rs say otherwise. Hopefully the members of the KWPOA will vote to allow them to stay, assuming they aren’t creating a disturbance.
We’ve talked before about the cool program the Ross Valley Sanitary District has had in place for the last few years, where they’ll pay for half the cost (up to $4000) of a new sewer lateral for homes in the district that qualify. Unfortunately the money has dried up for now. I talked with someone at the office who said to keep checking back as they think they’ll have funds again sometime before July, so it sounds like this might be a temporary situation.
You can get more info at their website, www.rvsd.org, or by calling (415) 259-2949.
I snapped this photo on a hike this morning of Mt. Tam from Crown Road in Baltimore Canyon. The colors were amazing after the evening rains. This hike is one of my favorites. You can take Crown Road to the left and down to Dawn Falls. We choose the trail head to the right, which leads you up on the ridge to view all of Marin’s gorgeous hills.
The Crown Road trail is accessible via Kentfield.
From Sir Francis Drake, take College Avenue into Kentfield. Turn right on Woodland, left on Evergreen. Follow Evergreen up the mountain. Turn left Crown Road and continue to the end of the road. Parking can be difficult on weekends.
There have been 50 Marin homes over three million dollars sold since January 1, 2010.Â In the same time frame last year, there were 37 homes over three million dollars sold in Marin. Yes, despite the mortgage mess the overall luxury home market has actually improved since 2009 in terms of number of sales.
As you can see in the chart above, the town of Tiburon tops the list of the most homes over three million dollars sold.Â The bulk of the luxury home sales are still under 3.5 million.
Top Ten Most Expensive Homes
The top ten most expensive homes sold year-to-date in Marin are as follows:
|Ross||1 Upper Rd Ross, CA 94957||17,500,000||1/15/10||14,000,000|
|Ross||7 Laurel Grove Ave Ross, CA 94957||10,000,000||1/20/10||8,000,000|
|Tiburon||3680 Paradise Dr Tiburon, CA 94920||8,800,000||4/2/10||7,800,000|
|Belvedere||8 Eucalyptus Rd Belvedere, CA 94920||7,500,000||10/19/10||7,140,000|
|Tiburon||4639 Paradise Dr Tiburon, CA 94920||7,485,000||8/3/10||7,000,000|
|Tiburon||133 Sugarloaf Dr Tiburon, CA 94920||6,995,000||7/15/10||6,900,000|
|Sausalito||77 Harrison Ave Sausalito, CA 94965||8,750,000||4/15/10||6,834,000|
|Tiburon||232 Trinidad Dr Tiburon, CA 94920||7,995,000||3/10/10||6,500,000|
|Kentfield||65 Rock Rd Kentfield, CA 94904||5,500,000||5/17/10||5,500,000|
|Mill Valley||401 Lovell Ave Mill Valley, CA 94941||5,695,000||9/26/10||5,500,000|
Both the price per square foot and the list price to sales price ratios were almost identical in 2009 and 2010.Â What’s to come for the luxury market?Â It’s still unclear how the meltdown of the mortgage markets will impact the overall economy and confidence in the real estate market. We’ll be watching carefully to see what’s next.
*information from Bay Area Real Estate Information Services.
Forbes recently published their list of America’s most expensive zip codes, most of which have seen very sluggish home sales.Â As part of the story, they focused on real estate markets that have tremendous value for being the luxury home market “next door” to the toniest of neighborhoods.Â The Marin County neighborhoods of Kentfield and Greenbrae received the majority of the focus in the story which I was interviewed for.
Kentfield has seen prices decline 20% this year while Greenbrae is only down 9% according to stats by Altos Research.
IÂ was thrilled to open an email earlier today from Kentfield School District Superintendent Mary Jo Pettigrew.Â In the letter to Bacich and Kent parents, Mary Jo said the school board reinstated 21 classroom aides and approved the hiring of a 5th grade teacher to keep class sizes small.Â The funds for the positions are coming from “receipt of federal stimulus monies, a lower projected reduction in categorical funding for 2009-2010 from the state, the continued support of the Kentfield Schools Foundation and the fiscal prudence of the District.”
Despite lower property tax revenues and state budget cuts, the school has been able to keep small class sizes and enrichment programs such as art, music, woodshop, drama and physical education.
In addition to being good news for parents, the news is great for Kentfield/Greenbrae property owners.Â The high ranking school district helps keep property values in the community steady.
Interested in living in the Kentfield School District?
This market profile is a snapshot of what is happening in Kentfield. Home prices remain flat this week, The number of Kentfield homes for sale and the days on the market are both climbing. The Kentfield market action index has been trending down lately, indicating a weakening market.
Kentfield Real Estate Market Update
There are currently 45 homes* for sale in Kentfield, California. There are 5 homes under contract. (*single family)
|Median List Price||$1,799,000|
|Highest Priced Home in Kentfield (single family)||$9,995,000
126 Cypress, Ave Kentfield
|Lowest Priced Home in Kentfield (single family)||$875,000
17 Laurel Grove Avenue, Kentfield
|Asking Price per Square Foot||$715|
|Average Days on Market||99|
|Percent of Properties with Price Decrease||42%|
|Median House Size (sq ft)||2,988|
|Median Lot Size||0.25-0.50 acre|
|Median Number of Bedrooms||4.0|
|Median Number of Bathrooms||3.0|
|Market Action Index||8- Cold! Buyer’s Market|
The Market Action Index answers the question: “How’s the Kentfield Real Estate Market?” By measuring the current rate of sale versus the amount of inventory. Index above 30 implies seller’s market conditions. Below 30, conditions favor the buyer.
Kentfield Real Estate Market Data effective as of June 28, 2009. Data provided by AltosResearch and Bay Area Real Estate Information Services, Inc. Are you a Kentfield real estate junkie? Sign up to receive very detailed real-time market reports in your email. Just register and let me know which neighborhoods you are interested in. Download a sample report.
View current Kentfield homes for sale.