BLOG - Marin Real Estate

March 3rd, 2007 11:49 PM
Market Looking Better since the end of 2006!  Twelve houses in Novato went into escrow last week, with at least two of those getting multiple-offers.  Three of those had been on market for more than 6, 8, and 9 months respectively.  Most of the others were under 20 days.  This is good news for my clients and other home owners!   

Mortgage defaults double in Marin, reports Marin IJ today.  The IJ said that Marin had 101 default notices during the quarter, up from 51 in the last quarter, 2005.  The IJ said that nearly a third of California homeowners who received default notices ended up foreclosed on their homes in the fourth quarter of last year.   

I have seen several 'short sales' (meaning the listing price of the house will not be able to fully cover the debt incurred) on the market since the middle of last year.  Sign of foreclosures.   A couple are caused by mortgage frauds, and most are caused by risky adjustable mortgages which serve the buyers well with low interest rate and rising home prices and constant refinancing.  When interest rate increases and housing prices are stale, these buyers are forced to go into default without a substantives increase in income. 

Posted by Sylvia Barry on March 3rd, 2007 11:49 PMPost a Comment (0)
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Sylvia Barry provides professional Real Estate Consulting for Marin Home Sellers or Buyers - Novato, San Rafael, Corte Madera, Kentfield, Mill Valley, Ross, Belvedere, Tiburon, Greenbrae, Larkspur, Marinwood, Nicasio, San Anselmo; as well as Sonoma County Sonoma Real Estate Consulting - Petaluma, Rohnert Park, Cotati, Santa Rosa, Penngrove. Marin County Real Estate, Marin County Homes, Marin Realtor,
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