Marin Market News

Volume 1, Issue 1 September 2010

Positive Real Estate News and the Marin County Market

Marcella Tate, Realtor
Frank Howard Allen
DRE# 01845888
Direct Line:
415.258.4156
Email:
Marcella@marcellatate.com
Website:
www.MarcellaTate.com
CONTACT ME TO
RECEIVE HOME ALERT
OR MARKET REPORT
EMAILS!
You determine the frequency
of the emails and the search
criteria to fit your needs.
Let the current real estate
information you want find
you.
Let‟s start with the National
Real Estate Market. Here are
some interesting facts from
NAR that you may find
encouraging about buying,
selling, or just being a
homeowner in general:
July 2009 home sales were at
5.14 million units while July
2010 home sales are at 3.83
million units, down 25.5%
from July 2009. Why?
Existing-home sales were
sharply lower in July follow-
ing expiration of the home
buyer tax credit but home
prices continued to gain,
according to NAR
“Consumers rationally
jumped into the market be-
fore the deadline for the
home buyer tax credit ex-
pired. Since May, after the
deadline, contract signings
have been notably lower and
a pause period for home sales
is likely to last through Sep-
tember,” he said. “However,
given the rock-bottom mort-
gage interest rates and his-
torically high housing af-
fordability conditions, the
pace of a sales recovery According to Freddie Mac,
could pick up quickly, pro- the national average commit-
vided the economy consis- ment rate for a 30-year, con-
tently adds jobs.” - Lawrence ventional, fixed-rate mort-
Yun, NAR chief economist. gage fell to a record low 4.56
percent in July from 4.74
“Even with sales pausing for
percent in June; the rate was
a few months, annual sales
5.22 percent in July 2009.
are expected to reach 5 mil-
Last week, Freddie Mac re-
lion in 2010 because of
ported the 30-year fixed was
healthy activity in the first
down to 4.42 percent.
half of the year. To place in
perspective, annual sales
All-cash sales rose to 30 per-
averaged 4.9 million in the
cent in July from 24 percent
past 20 years, and 4.4 million
in June.
over the past 30 years,” Yun
added.

The Job Market & Our Local Economy-Factors For Growth

California's economy is the
largest of any state in the US,
and is the eighth largest econ-
omy in the world. As of 2008,
the gross state product (GSP)
is about $1.85 trillion, which is
13% of the United States gross
domestic product (GDP).
As of 2010 California along
with Texas leads all other
states in the number of Fortune
500 headquarters at 57 compa-
nies each. (April 2010 Fortune
Magazine)
Here is an interesting fact:
Of the 57 Fortune 500 compa-
nies in California, 8 are in San
Francisco, and an additional 22
are in the Bay Area. What does
this mean for our local
economy?
Jobs and security. In fact,
Marin County has the lowest
unemployment rate in
the state of California at
8.2%.
In comparison to the state‟s
12.1% unemployment rate our
county offers a little more
opportunity than a typical
economy right now.
Page 2 Marin Market News

Novato Specifics - When Will We Recover? Maybe sooner than you think.
When looking at the specifics of the current Novato Market, I started to feel like we are still
in trouble. Let‟s face it, when the Novato bubble burst it burst HARD. A staggering per-
centage of homes available in Novato were distressed sales, and the sooner we sell them
and flush them out, the better off we all will be. If sales in Novato continue as the past few
years dictates, there will be a light at the end of the tunnel.
Total Number of Total Number of Percentage of Difference from
Old Novato City SFH’s Sold in those homes that Homes Sold in previous year
Hall Novato from were distressed Novato that were
Jan-July sales distressed
2007 258 38 15% -
2008 198 86 43.5% 28.5% increase
2009 216 130 60.5% 17 % increase
Contact me for a 2010 238 113 47.5% 13 % decrease!
free Comparative *Information Source: BAREIS
Market Analysis.
I grew up in Loma I wanted to see what percentage of Novato Single Family Home sales are distressed prop-
erties to determine if we have „peaked‟ our distressed property sales, and what I found was
Verde and I still live
encouraging while still showing the reality of how hard we were hit. Hopefully, the 13%
here today, and I am decrease in distressed sales is an indicator that we are getting past „the hump‟.
available to assist
Bad news first? Some prices are still dropping. Not by very much, but they have not lev-
you. I am happy to eled off completely yet. The good news? More homes are selling in Novato, and when
provide the answers priced well they are spending a lot less time on the market (see breakdown of city chart
below). So, as long as more distressed homes keep selling with lower days on market, the
to any real estate sooner we can flush them out and see our price point increase to a stable level. Having
questions that you been born in Marin and raised in Novato, I want nothing more than to see our city recover
and the people who have worked so hard to be able to call Novato home. Contact me for a
have and be your free Comparative Market Analysis, or if you simply have any questions. I am happy to
real estate provide the answers to any real estate questions that you have and be your real estate in-
formation source.
information source.

January-July 2009 vs. 2010 Non-Distressed Single Family Home Sales Comparison
Number of Units Average Price Per Average Days On
Sold Square Foot Market
CITY 2009 vs. 2010 2009 vs. 2010 2009 vs. 2010
Belvedere 9 / 15 $998.98 / $847.23 122 / 162
Corte Madera 17 / 30 $571.98 / $542.52 77 / 45
Fairfax 20 / 28 $424.11 / $385.65 78 / 28
Greenbrae 11 / 22 $538.40 / $504.09 49 / 78
Kentfield 10 / 78 $828.21 / $609.46 48 / 78
Larkspur 13 / 21 $568.71 / $629.14 93 / 49
Mill Valley 73 / 107 $597.93 / $580.80 85 / 77
Novato 78 / 112 $334.55 / $314.98 102 / 65
Ross 14 / 6 $758.05 / $845.27 77 / 64
San Anselmo 46 / 48 $498.90 / $434.21 65 / 63
San Rafael 103 / 139 $420.03 / $410.16 87 / 72
Mt. Tam Views Sausalito 5 / 12 $498.18 / $593.77 196 / 118
Tiburon 24 / 38 $753.16 / $695.60 117 / 127
*Information Source: BAREIS
Volume 1, Issue 1
Company News - Frank Howard Allen Has A Lot To Celebrate!
While Frank Howard Allen cele-
brates having a century of local
service under our belt, our company
continues to receive awards reflect-
ing the level of uncompromised
service we pride ourselves on.
Locally owned and operated, FHA
has been a part of the Bay Area‟s
history for many years, and sur-
vived every Real Estate market
imaginable.
While Frank Howard Allen is
number one in the Real Estate
Market Share for both dollar
volume and number of units sold,
Propositions 60 & 90- Take Your Property Taxes With You!
Prop 60 was a constitutional
amendment approved by the
CA voters in 1986. It allows for
the transfer of an existing Prop
13 base year value from a for-
mer residence to a replacement
residence. This benefit is open
to homeowners who are at least
55 years old , and who meet the
following requirements:
-You must be at least 55 years
old or severely or permanently
disabled.
-Both the original (former resi-
dence) and its replacement -
Props 60 & 90 Continued...
-A claim or relief must be filed
within three years of the date a
replacement dwelling is pur-
chased or new construction of a
replacement dwelling is com-
pleted.
-The replacement property must
be purchased for consideration
at fair market value- it cannot
be inherited, distressed sale
priced, or exempt from
reassessment.
-If a claimant purchases land
more than two years prior to the
sale of the original property but
the true success lies in our repeat
business and referrals. FHA was
named the Best Real Estate Bro-
kerage in Marin, as part of the
Pacific Sun 2010 Best of Marin
Readers’ Poll which recognizes
local favorites. This was the first
year the Pacific Sun included the
category of real estate brokerage.
I love being a Realtor in the San
Rafael office, and one thing my
office is known for is the work hard
play hard lifestyle. If we don‟t
remember to have fun in-between
the long hours and sometimes chal-
lenging market, we will eventually
property must be in the same
county.
-The benefit may be used once-
in-a-lifetime unless you become
severely and permanently dis-
abled.
-The original property must
have been eligible for the
Homeowner‟s Exemption or
entitled to the Disabled Vet-
eran‟s Exemption.
-The replacement dwelling
must be of equal or lesser value.
The replacement dwelling must
completes construction of the
replacement residence within
two years of the sale of the
original property, the base year
value of the original property
may be transferred to the land
and the newly constructed resi-
dence.
Prop 90 allows eligible senior
citizens relief from reassess-
ment when purchasing a re-
placement home of equal or
lesser value in a county which
has adopted the provisions of
the law.
Page 3
burn out and have less to offer our
clients.
Random Margarita parties in the
office complete with a fabulous
taco truck, Bocce Ball tournaments
on a Friday afternoon, music after
our office meetings echoing
throughout the halls, and Karaoke
Christmas parties really lighten
things up and keep the important
balance of work and play. There is
never a shortage of laughter at any
Frank Howard Allen event, and we
are all in this business because of a
common desire to provide unmatch-
able service...and the common love
of where we live!
Don’t let the
reassessment of
be purchased or newly con-
structed within two years your property
(before or after) of the sale of
the original property and must taxes stop you
be occupied by the claimant as
the principal residence at the from moving
time of filing.
-The original property must be
into a better
subject to reappraisal at its cur- situation! Feel
rent fair market value as a result
of its transfer. free to contact
*continued below... me with any
questions.
The following counties have
adopted a Prop 90 Ordinance:
Alameda, Los Angeles, Orange,
San Diego, San Mateo, Santa
Clara, and Ventura. Please note
that these counties are subject
to change.
Contacting your legal advisor
and tax professional is an im-
portant first step to determine if
you qualify for Props 60 & 90. The Great Seal of the state
of California
Knowing your options can
make a world of difference!
 Helping you create opportunity in your own backyard.

MARCELLA TATE, Your neighborhood is now on Face Book! Join our page and contribute!
REALTOR Loma Verde Neighborhood Page
DRE#01845888 Pointe Marin Neighborhood Page
Country Club Neighborhood Page
I will post random news, events, and things to do in our neighbor-
700 Fifth Avenue hood. This can be our forum and an easy way to reach out to our
San Rafael, CA 94901 neighbors.

Phone: 415-258-4156
Fax: 415-457-2359
E-mail: mtate@fhallen.com

Promote your local business, organize walking groups, support

neighborhood watch and initiate discussions. The more of us who
contribute the more the page will have to offer. I encourage you
to join in and let us know why you love where you live!

www.MarcellaTate.com

Positive RE news and the Marin County Market-What is going on in 2010?

What’s
Inside As a Realtor it is always a
little frustrating listening to
the news and their take of
The Novato 2 the real estate market. While
RE Market the staggering national num-
Update bers are accurate, such as a
27% drop in the July market,
there are a lot of other fac-
The Marin 2 whole, we must break it
tors to consider when hear-
County RE ing such broad statistics.
Market by City
I have heard so much nega-
Frank Howard 3 tive publicity in the last two
Allen weeks about the current
Celebrating 100 trends of real estate that I
Years decided to address the nega-
tivity head on and shed a
Propositions 60 3 little light with what the
& 90 Take Your media has failed to mention.
Property Taxes
With You
While the economy is still
recovering and the crisis is
still very real, we are blessed
to live in Marin County not
only because of its beauty
and location, but because of
the unique market we are
experiencing. So before we
all buy into the „sky is fal-
ling‟ concept, let‟s take a
look at what is going on
both locally and nationally.
In this newsletter you will
find detailed statistics that
will create a clear picture of
the current state of the
market.
To truly understand the state
of the Marin market as a
down by city since each city
in Marin has its own
strengths and challenges. In
this newsletter you will find
a special emphasis on
Novato and the details
needed to understand how
our city‟s market has been
effected and how it is chang-
ing since the bubble burst.