BLOG - in Transition

Anyway, Paul provided a gerat link to relieve stress How to DeStress   I thought this can be a great tool for the buyers and sellers as a self-defense in today's real estate market, whether it's in Marin or Sonoma counties. 

Take a look, have a good laugh, and destress!

Always have fun in what you are doing and enjoy the biggest financial adventure of your life.  When you relax, that's when you can make the best decision in today's market.

Best, Sylvia

Wall Street Journal (12/21/07) said foreclosure filing for November surged 68% from a year ago, but dropped 10% from October (first double digit monthly decrease since April 2006).  RealtyTrac showed foreclosure filings for October zoomed 94% from a year ago but rose a modest 2% from September.

Does the modest sequential rise from September and then the double digit decrease from October; coupled with the recent Bush Bailout announcement, indicated that foreclosure activities overall might have peaked?  

Bush recently also signed into law the Mortgage Forgiveness Debt Relief Act of 2007 which will do away with the tax on homeowners who have mortgage debt forgiven in a short sale, refinance, or in a deed in lieu of foreclosure.   

Can this combined be a great New Years News for 2008?  I have also seen houses going into escrow, slowly but steadily during the past month.  Do the buyers finally tired of waiting and decide this might be as good a time to get a great deal as ever?   

Southern Marin has held steady and Novato has slowed down and has been seeing decreases in value during the past few months.  With the above news, I will be watching the market closely for sign of recovery! 

Marin Homes for Sale on the 1st of December

Year	SFR < $1M	SFR > $1M	Condo < $1M	Condo > $1M
2007	291	338	240	10
2006	272	343	203	9
2005	222	342	149	10

1. The number of single family homes over $1M available fro sale today is 31.1% greater than in 2005 and 7% greater than in 2006.
2. The number of single family homes under $1M for sale today is 8.5% less than in 2005, and 5.9% less than in 2006
3. The number of condominimums under $1M available for sale today is 61.1% greater than in 2005,and 18.2% greater than in 2006. \
4. Contact a REALTOR for updated facts of Marin real estate reports.  See a sample report at www.MarinCountyRealtors.com by clicking on the first link in the Community Bulletin Board section of the home page.
   
5. Information are based from BAREIS MLS and is deemed reliable but not guaranteed.  Information provided by Sunshin Marketing, a Marin based real estate research and marketing company

Marin Homes for Sale on the 1st of November

Year	SFR < $1M	SFR > $1M	Condo < $1M	Condo > $1M
2007	332	416	251	14
2006	353	457	248	14
2005	363	387	137	10

• The number of single family homes over $1M available fro sale today is 7.5% greater than in 2005 and 9% less than in 2006
• The number of single family homes under $1M for sale today is 8.5% less than in 2005, and 5.9% less than in 2006
• The number of condominimums under $1M available for sale today is 83.2% greater than in 2005,and 1.20% greater than in 2006.

Information are based from BAREIS MLS and is deemed reliable but not guaranteed.  Information provided by Sunshin Marketing, a Marin based real estate research and marketing company

A Bay Area Colleague posted a note on Trulia talking about the Bloomberg Article where it says that "The number of Americans signing contracts to buy previously owned homes unexpectly rose for a second month in October, providing a rate piece of good news for the housing industry."  

This is exactly what I have been seeing and saying for the past two months - I am in Marin, my current listings are in Novato, the north most town in Marin; Novato market trails slightly behind Southern Marin due to longer commute to the City. 

I have had veyr healty open houses during the past two months, and quite a few 'real' buyers came through my open houses with many parents, friends, cousins, etc looking for their kids, friends, cousins, etc.

I think people have been waiting for a long time and are ready to buy. I just put two houses in escrow, the agent next to me have three offers (and more coming) on his short sale property that's been on market for about 1 week at near market price, and another realtor in my Rotary club has 3 offers on her house after many months.

My take is that for Marin, the housing market outlook for next year is good.

To Preserve north Novato, Marin, CA - we went to bat at the City Design Planning Workshop, and WE WON!!! 

Although I live in the immediate area, but I  got involved in San Marin Improvement Association (in Novato, CA) three years ago because of my son's high school wanted to be more community minded.  I was on the San Marin Site Leadership team in charge of PR plan and that's one of the steps we decided to take.  A small organization / watchdog for a pretty large neighborhood.   

I only attended the meetings to start with and tried to get the high school involved in what SMIA is doing (Halloween Parade, Easter Egg Hunt, etc).  Then I started to get more involved.  A recent notice was brought to my attention where it said a developer who bought an empty lot right in the middle of San Marin is planning to built a 2 story (36+ ft), 9500+sf, right against curb building in the middle of San Marin.  This is just totally agatinst the neighborhood charisteristics.  The developer bought the lot knowing the historical problems with the neighborhood's opposition on building on this lot and decided to build this medical / dental building (even had prospects) in just a few months, sell the building and then leave town.

Well, San Marin is flanked by Mt. Burdell which sloped down to San Marin Valley; with gorgeous, famous Marin views, luxury to middle class homes (not what you would envision as outrages homes but the ones that are understand, with great view of the beautiful Marin setting and just user friend homes).  A giant modern building just does not fit with the neighborhood.

As SMIA, we tried to work with the developers and gave them our input about what we thought of their plan, but after a couple half hearted attempts, they decided to go with the original plan as the others are not 'profitable' for them.

I went to my first ever design review workshop with city of Novato.  I would speak and was a bit nervous as I really do not this to happen.  The neighbors came out in support and the Novato City Planners; knowing how the local landscape / environment is and how the citizen feel about the issue, soundly rejected the proposal from the outside developers!  What were the developers thinking when they bought the lot, they are seasoned developers also!

Yes, Round One.  I was so happy coming home - what a wonderful feeling

:-))