Mortgage distress is rising in affluent areas around the Bay Area, according to a Chronicle analysis of foreclosure notices.

Not very positive, especially when the article mentions Greenbrae and other “high end” zip codes in the Bay Area.  Well, here’s what I’m seeing locally:

So far, so good this Fall.  Asking prices have remained steady and are slightly above price levels from 2006.  Certainly not where we were in 2007, but these seem to be holding well.

What about the number of Greenbrae homes available for sale (a.k.a “inventory”):

Definitely rising….

So yes, markets like Greenbrae are showing trends the don’t exactly jive – you’d expect prices to fall a little with the increased number of homes of the market.

October has been the busiest month in Marin all year for sales, but we are also seeing a buzz in the general market.  Open houses are busier, even my web traffic has been up this month.

It’s never a perfect science but getting in to the details is important.  Real estate is local and you can’t believe everything you read in the newspapers.

Courtesy of Altos Research

In May 2009, the average sales price in Greenbrae is down 18.4% over May of last year.  In Kentfield, it was down 12.6%.  In the same time period, home prices in neighboring San Anselmo were down 47.4%.

Families in our district pay a premium for homes to be in this fantastic and unique school district.  It is exactly why I purchased my home in Greenbrae when I was pregnant with my daughter.  The programs that make these schools strong are in jeopardy.  In a letter on the Kentfield School District’s website, Kentfield Schools Foundation President Marita Daly says this:

The weak economy has created budget constraints beyond our District’s control. As enrollment continues to rise and funding shrinks, the enriched education we have provided for years is at risk. Our District has already made many budget cuts, which are listed on the District website. The Board of Trustees needs another $1.5 million in revenue to fund current programs that are integral to our schools and dear to our hearts. The state reduces its funding by the hour, so this number will certainly change.

We are asking that every family respond to make sure we are very clear about what you value, so that the Foundation may properly represent you. The future of our schools lies in our hands.

If you would like to make a donation to minimize the impact of these budget cuts on our schools and our community, you may make your donation here.

Greenbrae Real Estate Market Update

The Market Action Index answers the question:
“How’s the Greenbrae 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.

This year I have the honor of chairing the Kentfield Schools Foundation’s biennial fundraiser.  This year’s event, A Saturday in Seville, promises to be a spectacular evening when approximately 400 guests will feel like they have been transported to Spain for an evening of tantalizing cuisines, scintillating music, and fabulous live and silent auctions.  The event will take place at the Mt. Tam Racquet Club in Larkspur on Saturday, May 2, 2009. 

• What:  A Saturday in Seville, The Kentfield School Foundation’s biennial Tombola fundraiser
• When:  Saturday, May 2, 2009, 6:00 pm
• Where:  Mt. Tam Racquet Club, Larkspur
• Why: Raise key funds in support of the the Kentfield School District (Bacich Elementary and Kent Middle Schools). With drastic budget cuts in the public schools, funds from the Kentfield Schools Foundation are needed now more than ever.  This biennial provides a significant portion of funds to the budget of the Kentfield School District.  Please come out and support our schools!

Save the date and mark your calendars for an exciting escape to Spain benefiting a great cause!

If you don’t like living in the fog, these pictures demonstrate is an excellent reason to drive just a couple more exits north on the 101 freeway.  As you can see, the fog sits on the mountains between Mill Valley and Corte Madera/Larkspur.  While Mill Valley, Tiburon, Belvedere, Sausalito and San Francisco are socked in with fog, often the rest of Marin is sunny (and frequently 5-10 degrees warmer).

Unfamiliar with Marin?  It is important to understand the many weather micro-climates of the communities. A few miles (even within the same city) can mean a substantial difference in fog, light, wind, sunshine, and even rain.

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Looking for a great burger and fries in Marin? Fifi’s Diner in Greenbrae’s Bon Air Shopping Center is a great little find. The tiny restaurant is located near Peet’s Coffee and Mollie Stones in the Bon Air Shopping Center. I first started going there for frozen yogurt but soon found that it is a great spot for a burgers, chicken and even a great caesar salad. I have been told breakfast is excellent too.

The atmosphere is very casual and kid friendly. Seating inside is limited but there are ample tables and chairs outside- a great spot for lunch on a sunny day in Greenbrae! This is definitely a great neighborhood spot in Marin for casual fare.

This isn’t a healthy stop (more of a greasy spoon type place), but it sure tastes good!

Try it out:

Fifi’s Diner
284 Bon Air Shopping Center
Greenbrae, California
415-461-3247

Our little cities in Marin County are so close together, I think it is confusing to everyone. So how does this whole city/town/county thing work in Marin?

Part of Greenbrae is unincorporated, meaning it is not part of a city or town with its own government. Another part of Greenbrae is incorporated into Larkspur. Need a building permit and you live in that half of Greenbrae? You go to the City of Larkspur. Live in the unincorporated are of Greenbrae? Permits and other services fall under the domain of Marin County.

The zip code for Greenbrae is 94904. 94904 is also the Kentfield zip code. Like Greenbrae, Kentfield is also unincorporated.

The school district for Greenbrae is not the Corte Madera -Larkspur School District, it is in the Kentfield School District. Go figure.

Got it?