This home on Shoreline will soon be offered for sale in Mill Valley. It’s a short sale and negotiations with the lender are currently underway to determine an offering price. Convenient access to San Francisco or take off to Stinson Beach. 2 beds, 1 bath, large yard, garage. If your looking for a home at the price of a condo, this could be the solution. For more information call 415-720-6100.

No comments

The Sales Report is in and you’ll see that sales prices are down 3% from the previous quarter with the number of sales down 11% from last year. Click on the link to see the ReportReport_Marin-Southern-SFR_0309

No comments

Half a million people are now in trial modifications under the Obama administration’s mortgage rescue plan, but getting them permanent help is proving to be difficult.

The foreclosure prevention plan, which reduces eligible borrowers’ monthly payments to no more than 31% of their pre-tax income, requires homeowners to make three on-time monthly payments before they can receive a permanent modification.

Loan servicers use the trial period to verify borrowers’ income and ascertain whether they can handle the reduced payments.

But servicers say they are having a tough time collecting the necessary documents to determine whether troubled borrowers should receive permanent adjustments. They contend that some homeowners aren’t sending in their tax returns, bank statements and pay stubs. Borrowers, on the other hand, complain that their paperwork is being lost.

The Obama administration recently made several changes to the program to give the transactions more time and streamline the plan.

To read the full story from CNN Money CLICK HERE

No comments

This is one of the best free online calculators that I’ve seen. Provided by the National Association of Realtors it will help you decide how much house you can really afford. To get it CLICK HERE

No comments

This 1877 vintage home is located in the banana belt area of Sausalito. It has four bedroom and four bathrooms and has been partially updated. It sits on a majestic 11,000 ft. lot with views of the Bay. The best use of this property would be to restore it to it’s grandeur or go by the owners plans and build three units on this lot.

No comments

this recently constructed home is located in the “banana belt” best weather area of Sausalito with views of San Francisco and the bay. 3 bedrooms, 2.5 baths, The high-end finishes include radiant heat, teak floors, honed granite counters, stainless appliances. A flat yard, slate roof and more. Listed at $2,674,000. For a personal tour call Victor Fisher at 415-720-6100 or Victor@MarinHomeSale.com

No comments

Making the current FHA loan limits permanent would ensure liquidity in the housing market and make mortgages more affordable for qualified buyers at a time when the market is showing signs of a fragile recovery, the NATIONAL ASSOCIATION OF REALTORS® testified to the House Subcommittee on Housing and Community Opportunity today.

Current FHA loan limits are as high as $729,750 in high cost areas, and are set to expire at the end of the year and revert to lower amounts, greatly hindering the housing recovery process.

“NAR strongly supports making FHA loan limits permanent,” said Boyd Campbell, an NAR spokesperson and managing partner-associate broker of Century 21 in Lanham, Md. He urged the subcommittee to quickly consider legislation that would do that—H.R. 2483, introduced by committee members U.S. Reps. Brad Sherman (D-Calif.) and Gary Miller (R-Calif.).

“FHA is more important than ever to homebuyers in the present market. In the wake of the collapsing private mortgage market, FHA has played a critical role in removing inventory from the market and stabilizing home prices,” he said. Present FHA housing market share is approaching 25 percent, significantly up from 3 percent two years ago.

NAR said that FHA has performed remarkably well through the housing crisis, compared to Fannie and Freddie, because FHA has never strayed from the sound underwriting and appropriate appraisals that have traditionally backed up their loans.

“The reason the FHA capital reserve ratio is expected to fall below 2 percent has nothing to do with FHA’s current business activities. It is simply a reflection of falling housing values in their portfolio,” NAR said. The FHA recently announced that a 2009 audit will show that even if FHA does nothing, the cap reserves are expected to rise back to the required level within a few years. FHA total reserves are not in as dire straits as some have reported, FHA said, because the cap reserve fund is not its reserve fund – FHA also has a separate cash reserve that is higher than it has ever been – and the combined assets total $30.4 billion.

FHA is taking timely steps to protect taxpayers: implementing credit policy changes to enhance risk management; hiring a chief risk officer for the first time in the agency’s history; and shifting responsibility for mortgage brokers away from taxpayers to the lenders who use mortgage brokers.

Campbell also called on Congress to add to appropriations legislation the funds necessary to update outmoded technology systems at FHA, and urged the Senate to pass H.R. 3146, sponsored by U.S. Reps. John Adler (D-N.J.) and Christopher Lee (R-N.Y.), to allow FHA the flexibility to hire appropriate staff and expert consultants.

Such changes would help give consumers more affordable choices when purchasing a home, would help strengthen our communities, and would reduce inventory and stabilize home prices, Campbell said.

In addition to the above enhancements, NAR recommended that FHA make these specific changes to condominium purchases:

Eliminate the owner-occupancy requirement, or at least amend rules so all bank-owned properties are not counted in the occupancy ratio;
Increase or temporarily suspend the 30 percent limit on total units in a condominium project that may have an FHA mortgage;
Reduce or eliminate the requirement that at least 50 percent of the units in the condominium be sold prior to FHA’s endorsement; and
Reconsider the elimination of the Spot Loan Approval Process, which allows certain borrowers to use FHA to purchase a condominium in a project that is not FHA approved.

No comments

After an absence of a couple of years the famous floating home community of Sausalito is once again having the annual open house tour. Having lived on a houseboat as well as selling them. I can tell you what a unique community it is. Being on the water speaks to the soul and puts you closer in touch with nature.

The tour takes place on September 26th and homes are open at 11 am and close at 4 pm. Open docks and open homes are indicated with colorful balloons. Advance tickets are $35 or $40 at the door.

There is no smoking allowed on any of the docks.

Please do not bring food or drinks into houseboats.

Dogs are not allowed on the tour.

Use caution when walking along the docks and especially when moving on and off each home.

A few homeowners ask tourists to put on shoe coverings or to remove their shoes before entering their floating home. You’ll have to walk the docks so wear comfortable, slip-on shoes.

Port-A-Potties are provided for your convenience. Please don’t ask docents or homeowners to use their facilities.

For more information go to the Floating Homes Association website

No comments

A year after the financial collapse of 2008, the housing market is very different than it was before the foreclosure crisis.

Here are seven bits of wisdom from economists and financial planners for anyone contemplating a home purchase today:

Old-fashioned basics are more important than ever. The safest way to purchase a home is to put down 20 percent on a fixed-rate, 30-year (or less) mortgage.
Don’t become overconfident about income growth. Even though buyers in their 20s and 30s will likely see their incomes grow more quickly than previous generations, it is important to act sensibly when borrowing.
Anyone contemplating adding children to the family should calculate whether they could live on one income because having both halves of a couple work may turn out to be impractical.
Include a maintenance budget. Even new homes need upkeep and repairs.
Buyers who can’t afford their dream home now should opt for a starter home where they can save money each month for what they really want.
Consider a property that can be expanded and improved down the road when money is available.
No two buyers are the same, but they should all feel confident with the loan they enter into, no matter the size of the mortgage.

Source: The New York Times, Ron Lieber (09/12/2009)

No comments

Kind of like looking at a car crash, you don’t want to but you just can’t help yourself. For the most recent list of Foreclosures in Marin County, California. CLICK HERE. And if your interesting in pursuing foreclosures or short sales, email me Victor@MarinHomeSale.com

No comments