Getting Foreclosure

This article says it all about the state's real estate market. In short, we've never seen anything like this before. Silver lining? Marin and San Francisco have the lowest and third lowest rates of foreclosure of all California counties. Opportunity? As we've been saying for a while, Sonoma County seems like a market that went from overvalued to undervalued very quickly. What's next? Our best guess is another few quarters of scary statistics before a blessedly slow and and steady recovery. We suspect that those who have the moxie to buy in 2008 will eventually be very glad they did. Stay tuned...

Fireside Chat

As a Mill Valley native, I am often asked by clients, Marin newcomers, or visitors from SF about the rundown, old, white brick building at the doorstep of my hometown. Many people remember the Fireside Motel, which sat behind the white brick building and welcomed people exiting Highway 101, headed toward Stinson Beach or Muir Woods. Still others once enjoyed a cold beer at the decidedly funky El Rebozo, the last business to occupy the white brick building. (Both establishments had reputations for allowing a little more fun that the local laws allowed.) These establishments were part of the Southern Marin landscape for a long time. Old timers might also remember The Brothers Tavern, Varney's Hardware, La Veranda, Dowd's Bard, and the Unknown Museum in the same breath. But I learned something new about one of Mill Valley's landmarks in this SF Chron article. If you've ever driven into Mill Valley and wondered about that rundown old building on the side of the road, you might enjoy the read.

Varney's Hardware closed in 1988

The fire that destroyed Dowd's and La Veranda in 1984

An "exhibit" at the unknown museum

Feeling So Loan-ly

Remember the heralded economic stimulus package that was supposed to bring relief to the lending markets and increased conforming loan limits? Well, it hasn't quite worked as planned. Check out this article from the SF Chronicle. It spells out what borrowers are facing these days. Bottom line? Loans are still being made, but without high income, great credit, and a big down payment, many borrowers are finding the pickin's awfully slim.

Property Tax Reductions

Fortunately, most of our clients, or more accurately, their properties, in Marin and San Francisco have weathered the real estate downturn well. In other areas, however, people who bought in recent years may find that their property has declined in value. Sometimes significantly. Oddly enough, when these folks get their property tax bill, they usually find that the assessed value of their home has not been reduced in kind. Fortunately, there is a rememdy. This helpful SF Chronicle article explains how to get a temporary reduction in the assessed value of your property. Share this with anyone you know who ought to take advantage of this opportunity.