BLOG - in Transition

MARIN LIVING - EARTHQUAKE INSURANCE FOR YOUR HOME?

I was on a national real estate discussion website and answering a question one of the fellow Realtors posted, about whether she shoudl buy earthquake insurance is she moves to California.  This made me think. We do have earthquake insurance for my own home because it gives me piece of mind being in the earthquake zone.

The question got me curious, so I googled it and found a nice article about the subject 'Do you Really Need Disaster Insurance'?

In the subject, it also has a link to 'Fortified ... for safer living' on the Institute for Business and Home Safety.  Thought I'd share both with you.  Good read.

30 Years Average Interest Rate Chart

Ofttimes I turn around, I hear people ask if this is still a good time to buy.  They read and heard so much about the troubles in Lending Institutions and how quite a few large companies have either shut down or been bought out; how lenders have tighten their lending practices and how interest rate has jumped for subprime and Jumbo loan.  

I recently received a chart showing the last 30 years average interest rate At 6.25% (1 point), we are still in the historical low rate - so, this is still a good time to buy Real Estate in Marin or elsewhere.

Call me at (415) 717-0293 or email me to receive the 30 years average interest rate chart.

Still a Good Time to Buy Real Estate in Marin

Sitting on the fence and wondering about if this is a good time to buy Real Estate in Marin?  kim Locklin from North Coast Mortgage provided the following insights at our office meeting today on why this is still a good time to buy real estate in Marin or the Bay area:  

• Housing pricings locally relative to income and interest rates are not over-valued.
  
• Local in come are rising and the unemployment rate is LOW.   The last housing bust happened when there was a very high unemployment rate.  Marin’s unemployment rate is below the national average.
  
• Companies are expanding.  Commercial space has the lowest vacancy rates for the last 14 quarters in San Francisco.  Marin has had the strongest quarter since 2001.  Think:  Hamilton Field Park expansion quickly (possibly Disney), Genentech, Autodesk and all the support services around them.
  
• Interest rates are still at 30-year low levels.
  
• If interest rates drop next year, more buyers will enter the market.  More buyers means more competition, possibly multiple offer situations.  Buyers who buy now can always refinance at a lower rate.  But, they get a home at a lower price today and can bank the appreciation!
  
• According to the statistics on Foreclosure rate - Foreclosures in Marin for second quarter, 2007 were up 103.4%, but this only represents 118 units total being foreclosed on.  To put this into perspective, there were 53,943 units statewide that went into foreclosure in the same period.

Please call me if you want to check into mortage and housing options, I will be very happy to assist you.