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Sylvia Barry, MARIN, S.F. North Bay Real Estate’s Blog

By Sylvia Barry, MAS, CIPS, SRES | Agent in Marin County, CA
  • Marin Real Estate - Bank Owned / REO / Foreclosed Homes as of 07/16/09

    Posted Under: Market Conditions in Marin County  |  July 19, 2009 11:17 PM  |  2,304 views  |  No comments

    MARIN COUNTY BANK OWNED / REO / FORECLOSED HOMES

    UPDATED 07/16/09 (last updated 06/06/09)

    By Popular Demand ... Thanks for emailing... Here is the updated report as requested!

    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 property for you in Marin and Sonoma county, Bank Owned or Not!  (O.K. I still have to work on the new Blog 'Tale of a Short Sale', but there are other priorities)  

    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 07/16/09)

    It has been 1 and 1/2 months since I last (06/06/09) 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.

    The Marin housing market is heating up again, as evident in the new 'sellers' market.  Lack of supply and increasing demand play a big role in that - Economics 101, I am sure.  This can be attributed to a few reasons:  Continuing interest in first time homebuyers taking advantage of the up to $8,000 tax credit from the government, interest rates stay historicacl low, including the new friendly Jumbo ($729,000 in Marin county), consumer believing the market has hit the bottom (as evident by many multiple offers), the lenders are required to hold of for an additional 90 days before starting the foreclosure process - allowing distressed homeowners the opportunity to work out their loans with the lenders - we have heard quite a few successful loan modifications), short sales are getting easier to approve, less stress for buyers, and much more.  

    And 1 and 1/2 months later, the famous, but accurate remark of: "The Bottom of the Market is Hindsight"   Don't be the one who missed out on the opportunity. Changes between 06/06/09 and 07/16/09!  66 Totals!

    • 19 Active - Rumor had it and now Luxury REOs are finally on market.  Vacation at home with Bay and Mt. Tam views in Sausalito - speaking of breathtaking views!  check out that 178 Santa Rosa Avenue.  Belvedere REO? with stunning water view, small but sure

        ~ Continue watching for outstsanding properties on REO list! ~

    • 29 Pending (Contingent, Pending) a gorgeous home in Larkspur - 5 Wittshire Avenue, inescorw just after 3 days; 1190 Cambridge (short sale at $470K, now REO at $372,900) in escrow after 2 days, probably multiple offers too!  On the other hand, a major fixer (or tear down) in San Anselmo, first priced at $1,350,000 went into escrow when it was reduced to $1M in May. 
    • 18 Sold since 06/06/09 - Remember that super hot deal on Sun Lane? Sold for  $710K (12.72% over asking) ALL Cash. One of those, no offers, but then suddenly many offers came in.  A Shea Home in Pointe Marin closed in 21 days for $855K (last sale in 06 for $1,150,000)

    Changes between 06/06/09 and 07/16/09 for:

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

    54 Total Listings - 

    Questions about the current market? a specific property? The Incentive?  Ready to Buy? Ready to Learn?  Call your trusted Realtor to give you personalized updates...

  • Fannie Mae Suspends Foreclosure Sales - Effect on Buyers and Sellers

    Posted Under: Market Conditions in Marin County  |  February 13, 2009 5:08 PM  |  2,302 views  |  No comments

    Fannie Mae today announced a suspension of all foreclosure sales and evictions of occupied properties through March 6 in anticipation of the Administration's national foreclosure prevention and loan modification program.

    See the News Release in this link...

    As a Realtor in Marin County, I have witnessed in January and the first part of February that there is a slow down of fforeclosed as well as short sale homes in Marin (although Marin County's foreclosure rate is much lower compare to the rest of California) due to previous suspension of Fannie Mae foreclosure sales to the end of January.

    This can be a two-edged sword where it can be a good news for home owners who have been facing competition with REOs and short sales properties and have seen big price drops on their properties; but it is, on the other hand, tougher on the buyerswho are taking advantage of and start getting used to the idea of buying REO properties.   

    A simple Rule of Supply vs Demandsays that as supply of REO / Foreclosure homes gets lower, the price of existing homes for sale will go up, at first, temporary, and hopefully, with the successful implementation of the new Bail Out Plan, permanently. 

    Coming from a difficult Marin Home market, I both rejoice in the saving of the existing home owners and their families who are losing their homes due to the subprime mortgage they have,  toughen job market, and the unstable economy; I am also sorry for the buyers who might finally be able to move into their first time home due to the declining housing market and now may or may not be able to........ 

    Where should the buyers look when there is no REO (Bank Owned) on the market?  Look at Well Priced Homes (many sellers have dropped price considerably due to the softening market www.2197Vineyard.com), Short Sales (requires hard work, patience but it can be well worth it) and get an agent who is diligent in looking for homes, strong in negotiation to help you find that perfect home.  

    Perhaps one day when the economy is stronger, we can take a collective sign of relief and cheer for the stable economy, strong housing market and solid job market where all can have a stable job, good income and own their home and fulfill their American Dream Once Again! 

     _________________________________________________________________________________________________

    Sylvia Barry, Realtor, ePRO
    Marin Realtor for Marin Luxury 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. 

  • Marin County Bank Owned (REO) Homes, Farms, Ranches, Condos/Townhomes

    Posted Under: Market Conditions in Marin County  |  February 11, 2009 2:25 PM  |  2,763 views  |  No comments

    O.K. I did not do the 'daily' update as I promised in the previous related blog - just to explain (or excuse :-)) and I have changed the previous blog to say that I will post the list as relevant information become available. ..

    1. I don't blog for the sake of blogging..  
    2. There was not much change to the REOs / foreclosures and
    3. As Realtors, my priority is to take care of my clients. I choose not to spend time posting something when there is no relevant activity. 

    (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 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

    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), but I should have new ones by then!

    * Marin County Bank Owned Single Family Homes - 

    • a couple in Bahia, San Rafael were coded incorrectly by the listing agent.  Those are the ones priced at $120-140K.  shoudl be Condo/Townhomes instead of SFR. 
    • 45 Elmwood is new,
    • 13 Ash Court, what a great deal now at $949,000 - Luxury, almost new home in Pointe Marin, 4, 31/2 and 4405 sf Shea home!   I have to admit that the house has it's PROs and CONs. Give me a call to find out 
    • You missed 1945 South Novato Blvd - went into contract.  A cute house, huge lot!

    * Marin County Bank Owned Condos / Towhomes (24 on market)

    and if you are really ready to buy?  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
    __________________________________________________________________________________________________

    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

  • Marin County Bank Owned / REO / Foreclosures

    Posted Under: Home Buying in Marin County  |  February 8, 2009 11:20 AM  |  2,527 views  |  No comments
    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 frequently on www.SylviaSellsMarin.com depending on relevant activities.  

    (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

    find a Realtor

    __________________________________________________________________________________

    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

  • Marin County Real Estate 2008 Year End Results vs. 2005, 2006, and 2007, Straignt from MLS

    Posted Under: Market Conditions in Marin County  |  January 31, 2009 12:25 PM  |  2,235 views  |  2 comments

    The Bay Areas Real Estate Information Systems (BAREIS) Multiple Listing Service (MLS) for Marin County, CA, just released 2008 Year-End Statistics with comparison to those of 2005, 2006 and 2007. 

    A Reminder and/or Refresher - 2005 and 2006 were full blown Sellers Market in Marin County where houses wentin a blink of eye and multiple offers abound, while 2007 saw the tail end of the frenzy sellers market, and the start of slight downturn. 

    By 2008, everything changed.  2008 was a very difficult year for sellers - starting with the bubble deflating, and lending industry collasping where there was virtually no money to lend for a while and interest rate, oil price increased in response, stock market crashing, etc, etc……. 

    We started to see Distressed Homes for Sale - starting with Loan Modification, Short Sales with Notice of Default filed, Notice of Trustee Sale sent and finally, Foreclosures (Bank Owned, REO)  These events all push prices down and making buyers wait - for the lowest (bottom) of the market- BTW, is there such a thing call the Bottom of the Market while you are in the thick of it?  (Good thing is things started to stabilized some)

    So, with that introduction..  here are the charts released by BAREIS MLS just today (01/30/09).

    Marin County 2008 Year-End

    In Comparison to 2007, 2006, and 2005

    The numbers provided are based on the number of Single Family Residential, Condo/Co-Op, Farms and Ranches sold in Marin County, CA (BAREIS)


    marunits3NUMBER OF HOME UNITS SOLD in MARIN COUNTY  - number of homes sold saw a stead decline from 2005 to 2008. 

    3407 in 2005 

    2844 in 2006 83.5% of 2005

    2507 in 2007 88.2% of 2006

    2081 in 2008 83% of 2007

    2008 figures is 61.1% of 2005 - Sales volume is definely down



    maraveragesellingprice3AVERAGE SELLING PRICE for MARIN COUNTY HOMES (Average Selling Price means adding up all Marin Real Estate sales and divide that by number of units for that year) At the end of 2008, we are back to 2005 figure

    $1,078,819 in 2005 

    $1,091,526 in 2006  101.18% of 2005

    $1,223,678 in 2007  112.11% of 2006

    $1,075,,500 in 2008 87.89% of 2007

    2008 figure is 99.69% of 2005 - back to 2005 level 


    marmediansellingprice2MEDIAN PRICE FOR ALL HOMES SOLD IN MARIN COUNTY (Median Price is the middle price for all Marin Homes Sales)

    $850,000 in 2005

    $864,500 in 2006  101.71% of 2005

    $900,000 in 2007  104.11% of 2006

    $790,000 in 2008  87.78% of 2007

    Median Price stayed stable over thru 2007, with a big dip in 2008 - many homes sold are Short Sales, REOs (Bank Owned/Foreclosures).

    2008 is 92.94% of 2005 - not that bad! 


    maraveragedomAVERAGE DAYS ON MARKET FOR MARIN COUNTY HOMES SOLD

    Number of Days on Market saw steady climb.    

    47 in 2005

    67 in 2006    142.55% over 2005

    73 in 2007    108.96% over 2006

    83 IN 2008   1.137% over 2007


    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

  • Marin County Real Estate 2008/2007 November, December Market Comparison Report

    Posted Under: Market Conditions in Marin County  |  January 31, 2009 12:19 PM  |  2,197 views  |  No comments

    Bay Area Real Estate Information Service (BAREIS) Multiple Listin Service (MLS) just released two month Marin County Homes Closed Sale Comparison reports for 2007 and 2008.  The two months period covered are November and December. 

    The report includes Single Family Residencies, Condo/Co-Op, Farms and Ranches, Mobile and Floating Homes.  The towns covered are all Marin County towns - Beveldere, Corte Madera, Greenbrae, Kentfield, Larkspur, Marinwood, Mill Valley, Novato, San Anselmo, San Rafael, Sausalito, Tiburon and other West Marin towns such as Point Reyes, Bolina,..,etc

    We can see that anything PRICE related has a dramatic drop - Average Price, Median Price, and Adjusted Average Price.  A lot of the pricing changes have something to do with the distressed properties now in Mairn county (from Novato, slowly going down to South Marin) - Short Sales, REO (Bank Owned), Foreclosures or just super motivated sellers. 

    The highest and lowest prices were not included so that a $19,000,000 does not have a dramatic impact on the prices of the other homes - Guess whose home is that $19,000,000 sale ...  Wouldn't you want to be THAT Realtor?  Come Back and Check later... :-)  


    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

  • Marin County Bank Owned (REO) Homes - Take Advantage Now!

    Posted Under: Market Conditions in Marin County  |  December 30, 2008 9:55 AM  |  2,453 views  |  No comments

    This is one of the very rare times in history where there are bank owned homes in Marin county, coupled with low interest rate; definitely a great time for buyers to take advantage of the current buyers market, even in Marin county.

    marincountyreoI  have many clients who asked me about Bank Owned (REO - Real Estate Owned) properties in Marin county.  Although Rare in comparison to other counties in California, we are seeing more bank owned properites in Marin county with the majority in Novato, then San Rafael, and trickle down to Southern Marin county.

    Several of my clients have taken the opportunity and bought bank owned homes, a couple are listed on multiple listing, and one bought before the house went on multiple listing from an investor associate of whom I have built a nice working relationship with. 

    A sample of currently bank owned properties are listed below - 

    One unit in Belvedere, Tiburon
    Area  Belvedere, Tiburon, Marin County Bank Owned - Extremely desirable area, and will normally have no foreclosured properties, but there is a very special reason for this  low price/bank owned in such desirable area - ask me for details. 

    One unit in Corte Madera, Larkspur
    area - Corte Madera, Larkspur, Marin County Bank Owned

    None in Greenbrae, Kentfield
    - Not too surprisingly that there are no bank owned home in Kentfield, Greenbrae area considering we just had 12 offers on a basically tear down house (Trustee Sale) all because of the highly desirable location for Greenbrae, Kentfield 

    None in Ross
     - Same reason as Greenbrae, Kentfield on why there is NO Bankowned in Ross

    None in Mill Valley -
    Same thing about Mill Valley Bank Owned - None in such desirable area.

    3 Bank Owned properties in San Anselmo - A little west, but still short commute to the city, full of charm and character, a town you don't want to miss!

    21 bank owned proeprties in San Rafael -
    fabulous time to buy in San Rafael - these bank owned properites in San Rafael are from Canal area, Terra Linda, Spinnaker Point, Santa Venetia area, Civic Center area, all the way to Gerstle Park.  Homes are condos, contemporary homes, Eichler homes, newer constructions, you name it!  

    26 in Novato
     - Novato is the north most city in Marin County.  These bank owned properties in Novato, Marin make Novato a 'relatively' affordable place to live now.  Several condos have restricted usage, a couple are in flood zone, some have higher HOA fees, but most of the others are excellent buys - many are gobbled up with multiple offers - make sure you don't wait for competition if you are interested in any of these properties.

    And there is even ONE in West Marin - Muir Beach Bank Owned Homes... just waiting for
    you to finish it up.....

    My hope for 2009 is that the homeowners who own distressed homes will be able to take advantage of the government's bail out plans and avoid foreclosures
    .......

    This means there will not be as many foreclosure properties as forecasted, and that's a good thing in my book.... So, take advantage of today's foreclosure inventories to set your foot in Marin County! 

    Sylvia Barry, Realtor, ePRO
    Marin Realtor for Marin Luxury 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.

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