Archive for the ‘News’ Category
President Obama followed up his State of the Union mention regarding more help for underwater homeowners with an announcement yesterday. Looks like there will be hurdles, including congressional approval, and it’s linked to a tax on banks. But making it possible for people to refinance and take advantage of low interest rates so they can keep their homes sure sounds better than more short sales and foreclosures.
An interesting year continues, with things still a little wacky in the Marin housing market. We’re still seeing multiple offers on some homes, and then there are some listings that are sitting for months. At the risk of sounding like a broken record, one thing that’s pretty glaring is the continued lack of inventory, especially really desirable houses. Looking at the stats for June, the number of residential properties in Marin is the lowest it’s been in any June in at least the last five years. And the months supply of homes based on pending sales is the lowest it’s been in any month since 2007. It’s 45% lower than this time last year, and 17% lower than June 06!
The conventional wisdom says that July and August aren’t the best time to list a home since people are on vacation, but this could be a good time for sellers to throw that thinking out the window and take advantage of the lack of competition.
Looking at the Marin County stats across all residential properties and price ranges through last month, pendings (houses going into escrow) ticked back up and inventory remained lower than any May since 2007. With all the doom and gloom in the media lately about the housing market nationwide, I guess we should feel good that Marin is looking like a different story right now.
With relatively low inventory and sales still pretty brisk the months supply is as low as it’s been in quite a while. It was at 3.4 in May, meaning at the current rate of homes going into escrow it would take 3.4 months to exhaust the current supply. That number was 4.9 in May 2010, and 3.1 back at this time in 2006.
As always, if you’d like stats for your particular town or price segment feel free to drop us a line at info@sfnorth.com.
It is that time of year again- The Junior League of San Francisco Home Tour! I look forward to this event all year long. I might be slighly biased- I was fortunate to have had the opportunity to chair the event in 2006 (The Give My Regards to Broadway Tour) but if you haven’t been, you shouldn’t miss this tour. Think stunning homes, great architecture and fabulous interior design. The tour is features private San Francisco residences most people never have the opportunity to explore.
Now celebrating its 15th year, the Tour has been recognized by national media such as the Wall Street Journal as one of the nation’s premiere residential tours. This year the event will take place on October 2 and 3 in the Gold Coast of Pacific Heights – an exclusive section of Pacific Avenue between Divisadero and Lyon.
I have put together a slide show with a sneak peak at some of the homes’ interiors. I can’t show you the exteriors because the addresses are not able to be released until you arrive at the tour, but let’s just say- this tour is off the charts!
Photos courtesy of Kira Stackhouse of Nuena Photography. Video features sound. If you are unable to see this video in your reader, click here
The Evening Home Tour + Preview Party takes place on Friday, October 2 at the Hamlin School from 5:30 – 10:00 pm. This event provides an intimate setting in which guests can view the homes before they open to the public, with door-to-door service and an exclusive cocktail reception. Tickets are $165/person.
The Home Tour takes place on Saturday, October 3 takes place from 10:00 a.m. – 4:00 p.m., and enables members of the public to walk through some of San Francisco’s most architecturally distinct residences. VIP tickets are $115 and include door-to-door service, viewing of a museum-quality art collection, and tasting of culinary delicacies from Bay Area restaurant chefs. General admission tickets are $65.
Highlights include:
* A 5,000 square foot home built in 1918 with some innovative “green” elements – such as a sustainable garden that naturally recycles water via a hydroponic system to a koi pond, and a garage partly made of recycled milk gallon containers.
* A former three-unit apartment complex built in 1936 that has been transformed into a spectacular, brand new home with 10,000 square feet on four levels, plus a 2,500 square foot roof terrace with city and bay views.
* An Edwardian residence designed in 1910 which has recently undergone a significant renovation, taking great care to keep the integrity of the original home while adding in modern inconveniences.
I have seen a LOT of home tours. The Junior League of San Francisco’s is NOT to be missed.
About The Junior League of San Francisco
The Junior League of San Francisco, Inc. is an organization of women committed to promoting voluntarism, developing the potential of women, and improving communities through the effective action and leadership of trained volunteers. Its purpose is exclusively educational and charitable. Since its inception in 1911, the Junior League of San Francisco, Inc. (JLSF) has provided the community with an estimated 6 million volunteer hours and more than $22 million through direct community grants, advocacy, and membership training and development.
As a problem surfaces within the community, the JLSF is frequently the first organization to recognize and address the issue, providing volunteer energy, financial assistance and public support. Often in collaboration with other community groups and/or the public sector, the JLSF designs and launches a program, then works to achieve community impact and measurable results. For the period 2007-2012, the JLSF focus area is to Support and Strengthen Families in Need. This focus is defined as supporting Bay Area families in need via direct service, advocacy and grantmaking. Volunteers participate in programs that promote comprehensive services focused on meeting life’s basic needs and strengthening all generations within the community with community partners such as:
- Compass Community Services – JLSF Signature Program
- International Rescue Committee
- San Francisco Child Abuse Prevention Center
- Support for Families of Children with Disabilities
- Image via Wikipedia
Just a reminder that traffic is likely to be a bear this coming weekend in Marin County. The Bay Bridge is scheduled to close from Thursday at 8pm to 5am Tuesday. Friday is probably going to be the biggest traffic mess when San Francisco commuters head over the Richmond/San Rafael Bridge. Add in Labor Day weekend travelers departing the city or heading to it and it could be ugly. Officials are advising holiday travelers to leave Thursday instead of Friday. To top it off, the Sausalito Art Festival takes place this weekend. If you are heading into Marin for that- take the Golden Gate Ferry!
Patience may be the name of the game, but if you don’t have to commute, don’t!
I just finished watching 60 minutes and its segment about real estate. First off, let me say that I am a regular 60 minutes viewer. I enjoy the show. I don’t believe everything I watch because the nature of the program – they often seem to take sides in covering an issue, which I don’t mind.
If you live in the Ross Valley, you should have received a ballot for the “annual storm drainage fee” for the Ross Valley Flood Protection and Watershed program. This “fee” would apply to homeowners in Flood Control District Zone 9 (Fairfax, Greenbrae, Kentfield, Larkspur, Ross and San Anselmo) . The fee will cover capital improvements to “repair and replace drainage infrastructure, enhance and establish drainage system and floodway maintenance programs” and provide habitat restoration projects.
Owners of condos are expected to pay around $30 per year, while owners of single family homes are expected to pay between $125-180 per year. The fee is capped out at $180 for residential and $6,000 per year for commercial. If there is a simple majority yes vote, the fee will take effect in 2008. If the fee is adopted, an annual hearing will take place to determine the fee for the following year. The is limited to a maximum of 3% per year and will end in 20 years.
So, is this tax good? This tax is critical to Ross Valley residents and Marin County. The economy of our community could be destroyed by a bad flood. Businesses and residences will be destroyed. Lives could be lost. Vital services could be damaged. The vitality of our local communities could disappear, causing home values to plummet. Schools could be closed for extended periods of time, impacting our children’s education. Residents who live in Flood Zone 9 whose homes have not flooded may not feel like they should have to pay the tax. My home is not in the path of potential floods but I believe my property contributes run off which is part of the problem. I believe everyone in the district should contribute to resolving improving flood protection for the area.
This program will preserve our community, its economy, residents, businesses and schools. Even if your specific home does not flood, you will still be impacted in some way.
For more information on the tax, visit: