Marin Real Estate Guide

This market profile is a snapshot of what is happening in Larkspur.  Home prices are up this week in Larkspur while the average days on market continues to to climb.  The market action index has been on the rise- a positive indication for the market. Continue Reading »

This market profile is a snapshot of what is happening in San Rafael.  Home prices are down again this week in San Rafael while the average days on market continues to to climb.  Inventory has been tightening.  The market action index remains flat. Continue Reading »

This market profile is a snapshot of what is happening in Corte Madera.  Home prices are down again this week in Corte Madera while the average days on market continues to to climb and home inventory is tightening.  The market action index remains flat. Continue Reading »

This market profile is a snapshot of what is happening in San Anselmo.  The median list price bounced up this week in San Anselmo while home inventory and days on the market are climbing.  The market action index remains flat. Continue Reading »

This market profile is a snapshot of what is happening in Fairfax.

Home prices are down again this week in Fairfax while the average days on market continues to to climb.  The market action index remains flat. Continue Reading »

This market profile is a snapshot of what is happening in Tiburon.

Home prices are down again this week in Tiburon while the average days on market continues to to climb.  The market action index remains flat. Continue Reading »

This market profile is a snapshot of what is happening in Mill Valley. The number of listings  has been tightening and days-on-market increasing
recently. Continue Reading »

In Marin County, real estate has always been a GREAT long time investment.   Interestingly enough, we have only had one dip in average sales price in the last 42 years.  That dip occurred in 1991-1992.  Both of my neighbors have owned their homes for almost 40 years. I am sure they are happy with the investment.

Today is Blog Action Day, where bloggers around the country focus on a single cause.  This year, bloggers around the country are writing about poverty in an effort to raise global awareness about this very important issue.

Poverty is a huge issue in the bay area with huge disparities between the affluent and the poor.  Did you know that there nearly 600 homeless teenagers in Marin County alone?  That number is staggering and heart wrenching.

Under the direction of MarinLink, the first ever Project Homeless Connect was held in San Rafael last year and repeated in April.  The program is modeled after San Francisco’s tremendously successful Project Homeless Connect where volunteers come together to help those in need get the services that are critical to their health and well-being with resources such as medical and dental care, mental and substance abuse counseling, shelter and public assistance information.

If you are thinking about getting involved to help fight poverty there are many Marin organizations that I know would love your money and/or time!  Here are just a few to get you thinking:

• Marin Link- Project Homeless Connect
• Adopt A Family of Marin
• Beach House/A Home Away From Homelessness
• Gilead House
• Homeward Bound of Marin
• Novato Human Needs Center
• Open Door Ministries
• Ritter Center
• St. Vincent de Paul Society
• Warm Wishes

In response to the slowing pace of economic activity and intensified turmoil in financial markets, the Federal Reserve cut the its key rate by 50 basis points, or 0.5%, last week ahead of its regularly scheduled meeting at the end of October. The action was globally orchestrated with banks around the world, including the Bank of England, the European Central Bank and others in Canada, China, Switzerland and Sweden, who also cut rates on the same day. There are multiple ways this cut will have a direct effect on consumers:

• The Prime Rate will follow the Fed Fund rate cut and also drop by 0.5% - currently standing at 4.5%
• Auto loans, equity lines and credit cards with rates tied to prime will now be cheaper

So why didn’t mortgage rates go down? Two main reasons…

• Mortgage rates are set based on where mortgage bonds trade in the open market. They are not directly tied to the Fed Fund Rate although monetary policy does play a big part in mortgage rates. However, the bond market tends to anticipate any monetary policy action the Fed takes so usually by the time the Fed acts, the rate cut has already been fully priced into the bond market.
• Also, amid the current financial chaos, investors are selling assets across the board – equities and bonds included. This sell-off, combined with record volatility in the market, is causing a short-term increase in rates. Don’t get me wrong…rates are still quite good…just a bit higher than we saw the past week.

Along those lines, I keep hearing in the media (as I’m sure you do!) that banks aren’t lending to each other or to consumers and that borrowers are unable to get mortgages, car loans or equity lines due to the credit freeze. This is absolutely not the case so let me once again be clear on this…WE ARE CLOSING MORTGAGE LOANS!! We are processing, underwriting, and closing loans daily and have money to lend!

So…as usual…don’t believe all you hear from the supposed experts on TV!

Stacey Fleece is a Mortgage Loan Consultant with Countrywide Home Loans in Mill Valley.