Median incomes in Marin are among the highest in the state—OK, in any state. Among married couples who file joint tax returns, the median adjusted gross household income is $116,626. If they're first-time homebuyers, how much house can they afford these days? One that costs $462,126.15, but only if they have saved up a 20 percent down payment:
Here's how the numbers would work out with a 30-year fixed rate mortgage at 5.82 percent, according to Money Magazine:
House price: $462,126.15
Loan amount: $385,105.15
Down payment: $77,021
Monthly mortgage payment: $2,264.52
Monthly taxes/homeowner insurance: $456.75
Total monthly payment: $ 2,721.27
So what's on the market in that price range?
746 Diablo, Novato: 3BR, 1 B, $450,000. Amenities include a rope swing in the front yard and a skylight in the dining room.
Other possibilities include a 1BR, 1B condo in Mill Valley for $455,000, a 2BR, 1 B condo in Greenbrae for $469,000 and a 2 BR, 1 B condo in Corte Madera for $459,000.
Wednesday, May 14, 2008
Here's What Marin's $116,626 Median Income Will Buy
Monday, May 5, 2008
In Escrow: A Flurry Of Pending Sales In Marin
Conventional wisdom is that April and May are the best months to put a house up for sale. Based on what's been going on in southern and central Marin in the past couple of weeks, it looks like conventional wisdom is right, for once. Here's a look at nine recent listings—including one $5.995 million San Anselmo house—that have gone into escrow after being on the market for fewer than 14 days:
BELVEDERE:
322 Beach Rd.: This seller had a deal before listing this "vintage" waterfront house for $2.69 million (3,781 sq ft, 5BR, 4 BA, no interior photos available).
GREENBRAE:
35 Corte Alegre: This four-bedroom house within walking distance to Bacich School, asking price $1.395 million (2,152 sq ft and it's on a cul de sac).
KENTFIELD:
17 Acacia Ave: Level lot, has a pool, asking price was $1.55 million (2,079 sq ft, 4BR, 3 BA).
MILL VALLEY:
123 Ricardo Rd.: Strawberry Point 3BR, 3BA, described as "executive home," asking price $1.595 million (1978 sq ft).
SAN ANSELMO:
100 Holstein Rd.: 5BR, 3.5BA on an oversized lot (28,265 sq ft), asking price was $1.05 million (2,477 sq ft).
11 Idalia Ct.: Remodeled 3BR, 2.5 BA descrived as "the epitome of San Anselmo Seminary lifestyle, asking price $1.485 million (1,962 sq ft).
109 Fawn Dr.: Tennis, anyone? Dip in the pool? This 5 BR, 6.5BA house (7,363 sq ft), asking price $5.995 million, also has a spa and yoga room.
SAN RAFAEL:
6 Dogwood Ct.: Almost new 4BR, 3BA w/cherry cabinets and granite countertops in the kitchen, asking price $1.195 million (2,856 sq ft).
11 I St.: Vintage brown shingle with 4 BR, 3BA, asking price was $1.45 million (2,194 sq ft).
Monday, April 14, 2008
Greenbrae Condo Prices: Then And Now
One of these things is not like the other:
Just sold:
632 Via Casitas
2BR, 954 sq ft
Built in 1974
$410,000
Sold a year ago:
823 Via Casitas
2BR, 954 sq ft
Built in 1974
$485,000
[Photo credit: Skovgaard]
