Economic Downturn Effects Tiburon...

From the Town of Tiburon’s Town Manager*: … So how do we look at mid-year?  We still project a balanced budget at the end of the fiscal year (June 30), but several important revenue sources are down even more than we projected.  Sales and hotel taxes are lower than last year and our budget estimate, so too are building and planning permit revenues as fewer people build or remodel homes.  Even fines are down, due to...

FHA Toughens Down Payment Rules...

The Federal Housing Administration will raise the minimum down payment for its least credit-worthy borrowers, the agency announced Tuesday. The change is among a number of major changes the FHA is making to ensure its long-term financial soundness. Borrowers with credit-rating scores below 580 will be required to put down at least 10 percent. Those with a credit score above 580 will be able to continue to put down only 3.5...

The 10 Most Undervalued Housing Markets...

Nationwide, only 87 markets are in the overvalued category, according to a newly released 2010 report compiled by IHS Global Insight and PNC Financial Services. That means 242 of the 299 largest U.S. housing markets are selling for prices that even bankers think are less than fair market value. The judgment is based on a comparison of median home prices, local interest rates, population densities, and income, plus historic...

Good Faith Estimate: New Form...

Recent guidelines from Washington have forced a change to the way that loan originators will disclose closing costs for all homebuyers. The purpose of the new Good Faith Estimate is to level the playing field for borrowers comparing loans to be able to make apples to apples comparisons for loan scenarios. In essence, HUD is working to bring all lenders up to the same standard of excellence in reporting closing...

Real Estate News Online...

Until I figure out how to embed this in the blog… Here is the link to listen to Real Estate News...

Marin Statistics for 2009...

It is no secret that in 2009, home values declined virtually everywhere….even in Marin, but here are some facts that bear noticing as we look over the past decade. • The average home price in Marin at the end of 2009 was 17.9% greater than at the start of the decade. The DOW was down 3.3% during that same time period. • The 4th quarter for 2009 was much improved in many areas from 2008. • Homes sales were up 44.1%...

Record Number of Foreclosures in 2009...

Total foreclosures in 2009 reached 2.8 million, a 21 percent increase over 2008 and a 120 percent rise compared to 2007, according to foreclosure sales Web site RealtyTrac in a year-end report released Wednesday. RealtyTrac also reported that fourth quarter foreclosures decreased 7 percent from the third quarter, although they were up 18 percent compared to 2008. December 2009 foreclosures were up 14 percent over December...

4 months left on the tax credit...

With the April 30 deadline in place for clients to take advantage of a federal home-buyer incentive, you have slightly less than four months to get into contract on a home before the cut-off date. As part of its plan to stimulate the U.S. housing market and address the economic challenges facing our nation, Congress passed legislation that: Extends the First-Time Home Buyer Tax Credit of up to $8,000 to first-time home...

Challening Times...

“In my 20 years as an editor for NAR (National Association of Realtors), I’ve never seen a more challenging time. Yet I’ve never seen more people engaged in moving the industry in a positive direction”. These are the comments from  Stacey Moncrieff, editor-in-chief of REALTOR® magazine: “Where I live, I’m starting to see hopeful signs. Two friends who were laid off and have struggled to get...

Ceiling Fans – So many…....

Someone reading these posts introduced me to a whole new world of ceiling fans… These days there are so many choices.  Check out Google Search for ceiling fans. Here’s an example Tiffany Monte Carlo Fan Geometric Glass Shade Tiffany Monte Carlo Fan Glass Shade Adding tiffany style to an existing ceiling fan is an easy task through the use of light shades and light kits. Case in point is the beautiful...