At the turn of the century, day trading—tech stocks in particular—was the great American past time. Everyone was investing in fly-by-night companies that had little more than a .com bolted onto their idiotic business plan. That, needless to say, didn't end well. Too many people saw their savings wiped out when the companies they invested in crashed and burned.
But as bad as it is now? For people living in Northern California, unless you bought a home within the past few years, your real-estate investment is still looking smart. Check out this chart: the median price of a home in Marin County, while down 26% from its historic peak last June, is still up 56% since 2000.
Tuesday, May 13, 2008
How the Real Estate Bubble Differs from the Dotcom Bubble
Monday, May 12, 2008
Got $1.1 million? Buy a Starter House in Mill Valley
You can get get "vintage charm" and "character" and 1,094 square feet of living space if you buy this brand-new $1.099 million Mill Valley listing. No, that's not a typo and yes, it does work out to $1,004.57 per square foot. 
Nice-looking kitchen, no?
A Flipper Horror Story
Starting four years ago, a guy buys nine homes in Northern California as investment properties. One by one, they slip into default. Now, he's looking at likely foreclosure—and the bank's coming after his own home and assorted assets, which could force him into bankruptcy. Is he freaked out? Nope: "Everyone stumbles. I'm not going to hide or run or live in denial, or with regrets,"he tells Reuters.
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).
Thursday, May 1, 2008
Breaking: Houses Selling Above Asking
Remember that house at 111 Locust Street, Mill Valley (see here)? The asking price was $3.395 million. Our sources say it closed yesterday after getting three offers. Price: $3.75 million.
Meanwhile, 55 Buena Vista Avenue, a remolded three-BR stucco house in a flat, sunny walk-to-town location, got at least two offers in under a week. The house, which was listed for $1.749 million (1,800 square feet), is already in escrow. Let us know if it also sold above asking.
Mill Valley: Bizarro World.
Monday, April 28, 2008
Same House, Lower Price
Back on the market in Mill Valley is a recently renovated house at 45 Laverne ($2.35 million for 2,753 sq ft, 4BR plus office, 3.5BA). Last fall, when we first heard this modern house located behind Whole Foods in Homestead Valley was for sale, the owner was asking $2.5 million. More of the scoop:
According to Zillow, where the owners posted more details about the 1951 house, a major remodel was completed three years ago. Improvements include: a new roof, new siding, four newly renovated bathrooms, a kitchen remodel and a two-story addition. Oh, and also a sauna and steam room.
Wednesday, April 23, 2008
Lots of Foreclosures In California; Not So Many In Marin
Lenders moved to foreclose on 110,392 homes in California during the first three months of 2008, according to DataQuick. The high number of foreclosures was a record for every county in the state except Los Angeles (which was hard hit during the recession of the early 1990s and which, as a result, had even more homes in foreclosure eight years ago than today). What about the local picture? A 166-percent increase in foreclosures in Marin sounds scary, until you look closer at the real year-to-year numbers:
| San Francisco | 216 | 420 | 94.4% |
| Alameda | 1,578 | 3,194 | 102.4% |
| Contra Costa | 1,969 | 4,718 | 139.6% |
| Santa Clara | 1,058 | 3,074 | 190.5% |
| San Mateo | 382 | 911 | 138.5% |
| Marin | 118 | 314 | 166.1% |
| Solano | 914 | 2,091 | 128.8% |
| Sonoma | 407 | 1,392 | 242.0% |
| Napa | 88 | 284 | 222.7% |
| Bay Area | 6,730 | 16,398 | 143.7% |
Lenders moved to foreclose on 314 houses in Marin in the first quarter (up from 118 during the same period last year). More than half of the 314 are located in Novato. What the numbers show, overall, is that Marin is one of the three counties in the state (along with San Francisco and San Mateo) where mortgages are least likely to be delinquent. The most likely are Stanislaus, San Joaquin and Merced counties.
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