Mitch's Blog at Coldwell Banker, member of GreenerMarin

Penngrove single level home on 1 Acre with custom pool - $689,000

Mitch Todd (Coldwell Banker) — Tue, 11 Aug 2009 15:56:01 -0700

What a spectacular property! Set on an acre of flat land overlooking Penngrove, this single level ranch style home boasts a huge ~740sqft garage, an exotic inground pool (designed by Don Johnson Pools) and RV/Boat parking. Upgrades include dual pane windows, newer pool equipment, and updated baths. This is an amazing opportunity for someone looking for room to spread out!

Mitch Todd/Realtor

415-259-7082

Coldwell Banker

Broker License #01410737

Oak Knoll, San Anselmo: Brand New Construction - own for less than rent!

Mitch Todd (Coldwell Banker) — Tue, 11 Aug 2009 11:54:49 -0700

Elegant living in the heart of Marin! Don't miss out on these brand new 2 and 3 bedroom townhomes priced between $530,000 and $599,000! Just steps from Fairfax, these homes are built with the most discerning buyer in mind. Finishes include distressed hardwood floors, stainless appliances & stone/tile/granite throughout the kitchen & baths. Energy efficient dual pane windows & skylights let plenty of natural light in, while keeping utility costs down.

Mitch Todd/Realtor

415-259-7082

Coldwell Banker - Greenbrae

Broker License #01410737

Marin County single family home sales average $1.125M in March 2009

Mitch Todd (Coldwell Banker) — Wed, 08 Apr 2009 19:41:07 -0700

Marin County stats - updated 04/08/09 for sales through March 31, 2009 according to data recorded in BAREIS (local Mulitple Listing Service).

Single Family homes sold = 87 homes. Year to date, there have been 217 Single Family homes sold in Marin County, that's a 22% reduction as compared to the same period in 2008.

Average price of sold Single Family homes in March 2009 = $1,124,922. That's a 40% increase over February 2009, and a 6% decrease compared to March 2008.

Average time sold Single Family homes remained on the market = 103 days

Mitch Todd/Realtor

Tam Realty

Napa: large estate home steps from the Silverado Trail

Mitch Todd (Coldwell Banker) — Mon, 23 Mar 2009 16:39:21 -0700

Mitch Todd | Tam Realty | 415-259-7082

1104 Clark, Napa, CA

Normandy in the Napa Valley

4BR/4BA Single Family House

offered at $1,993,000

Year Built	2004
Sq Footage	4,300
Bedrooms	4
Bathrooms	4 full, 0 partial
Floors	Unspecified
Parking	2 Car garage
Lot Size	18,730 sqft
HOA/Maint	$0 per month

DESCRIPTION

This picturesque and stylish custom home is approximately 4,300 sq. ft., with 4 bedrooms and 4 baths.
Located on a private East Napa lot, minutes from Copia, Oxbow Market, (the future) Ritz Carlton, Westin, Napa Valley and Silverado Country Clubs. The property has stunning curb appeal, and its uniqueness is instantly obvious upon turning onto the semi-private drive.
Nestled into a hillside, the home is flanked by mature trees, including its own stately and manicured 100-year-old oaks. Professional landscaping has generated a very special park-like atmosphere.
The home enjoys sweeping valley and mountain views plus sparkling City lights at night.
Built in 2004, the home’s exterior reveals the influence of timeless Old-World architecture, yet inside one finds all the luxuries of modern living.

see additional photos below

ADDITIONAL PHOTOS

Front of house	View
View of Hot air balloons	Kitchen
Family Room	Living room

Contact info:

Mitch Todd

Tam Realty

415-259-7082

For sale by agent/broker

Equal Opportunity Housing

Posted: Mar 8, 2009, 9:14am PDT

Napa: Estate lot with plans/utilities

Mitch Todd (Coldwell Banker) — Mon, 23 Mar 2009 16:37:11 -0700

Mitch Todd | Tam Realty | 415-259-7082

10 Oak Rock Lane, Napa, CA

Napa estate parcel ready for your dream home.

1.5 acres Vacant Land

offered at $699,000

Lot Size

1.5 acres

DESCRIPTION

Estate Home site, with plans and utilities to lot. Country setting with city sewer and water.

see additional photos below

LOCATION FEATURES

Estate parcel with plans, views, location.

OTHER SPECIAL FEATURES

Utilities to lot, on city water/sewer

ADDITIONAL PHOTOS

Photo 3	Photo 1
Photo 2	Photo 4

Contact info:

Mitch Todd

Tam Realty

415-259-7082

For sale by agent/broker

Equal Opportunity Housing

Posted: Mar 21, 2009, 9:38pm PDT

St. Helena, 3/3 on 1/2 acre - NOT ON MLS

Mitch Todd (Coldwell Banker) — Mon, 23 Mar 2009 16:35:14 -0700

Mitch Todd | Tam Realty | 415-259-7082

550 Stanton Drive, Saint Helena, CA

Beautiful remodel on 1/2 acre in St Helena.

3BR/3BA Single Family House

offered at $1,600,000

Year Built	Unspecified
Sq Footage	2,812
Bedrooms	3
Bathrooms	3 full, 0 partial
Floors	1
Parking	Unspecified
Lot Size	Unspecified
HOA/Maint	$0 per month

DESCRIPTION

3 Bedroom, 3 bath home on 1/2 acre. Almost 3,000sqft with gourmet kitchen and hardwood floors. The property is blessed with a wonderful pool and a detached garage and wine storage.

see additional photos below

ADDITIONAL PHOTOS

Photo 1	Photo 1
Photo 2

Contact info:

Mitch Todd

Tam Realty

415-259-7082

For sale by agent/broker

Equal Opportunity Housing

Posted: Mar 21, 2009, 10:25pm PDT

Heads-up for TIC Investors

Mitch Todd (Coldwell Banker) — Wed, 11 Feb 2009 11:55:07 -0800

In January 2009, Anne Kruaskopf, Senior Special Counsel of the SEC (U.S. Securities and Exchange Commission), indicated in a 'no-action' letter (found at http://www.sec.gov/divisions/corpfin/cf-noaction/2009/omni011409.htm) that a proposed offer and sale of undivided tenant in common (TIC) interests might fall under the Securities Act of 1933.

While this letter is in response to a very specific set of circumstances and stops short of a definitive ruling, it serves as a warning to TIC investors to carefully consider each and every offering presented to them.

Mitch Todd/Realtor
Associate Broker, MBA and Owner of Tam Realty
415-259-7082

Fairfield REO statistics: 01/15/09

Mitch Todd (Coldwell Banker) — Thu, 15 Jan 2009 22:02:21 -0800

1/15/09: Here's a snapshot of the REO market in Fairfield as of the beginning of January 2009.

Items of note:

1.) Asking price and Selling price are merging: indicates that buyers and sellers both agree on price. This predicts the bottom of the market (for this segment in this market) as there is no downward pressure from buyers.

2.) Sales prices have adjusted downward dramatically over the last 6 months.

3.) Volume of REO activity has exploded - now dominating the market.

Questions or Copmments??? Call or email me...

Mitch Todd/Realtor

owner, Tam Realty

415-259-7082

Recovery: Marin County Condo/Townhomes

Mitch Todd (Coldwell Banker) — Fri, 09 Jan 2009 12:47:41 -0800

Are we nearing the bottom for condos and townhomes in Marin County?

One sector of our real estate market here in Marin has begun to stand out, condominiums and townhomes.

In my previous blogs, I have presented the raw statistics of units sold and price changes over the last year or two. Now I've taken that analysis to the next step - and below you will find sales data for the last 15 years. You can clearly see the market correction over the last couple of years. More than that, though, I've plotted a baseline 5% appreciation line as a comparison (see notes below for sources).

You can see that the chart below reflects a sales volume in line with "pre-boom" figures. It also predicts a sales price (average sales price, in this case) nearing that of historical appreciation rates (see notes below). Furthermore, many analysts and economists have targeted a 35%-37% drop in nationwide sales prices to mark the bottom of the market. For Marin County condos/townhomes, that means that we are quickly nearing the target bottom. Now, keep in mind that the concept of an actual bottom of the market is fuzzy at best (will we know when we reach it), and that each market nationwide will certainly perform independently.

Enough said - check out the chart and contact me with questions and comments!

Mitch Todd/Realtor at Tam Realty
415-259-7082

NOTES:

---I selected an average rate of appreciation of 5% after researching several sources. First, nationwide appreciation before the real estate boom (1975 - 1998) averages just over 4%. California appreciation for the same timeframe averaged an astounding 7.9% (source: Office of Federal Housing Enterprise Oversight). Inflation (excluding the high inflation period of the '70s) has run around 3.5% (source: Office of Federal Housing Enterprise Oversight). So, I've settled on 5%. You may consider another rate - feel free!

---Another note: I have selected average sales price for my data - honestly, it's easier for gather than median. That said, average sales price can be skewed by 'out of the ordinary' sales, high or low. As a rule of thumb, in Marin County, average sales prices exceed median sales prices due to a few select 'luxury' products skewing the data. For condos/townhomes, sales on DeSilva Island are an example of this. For reference, Dec. '08 average sales price for a condo/townhome in Marin was around $474K, while the median price was around $405K.

Marin County housing stats: Dec 2008

Mitch Todd (Coldwell Banker) — Thu, 08 Jan 2009 13:35:42 -0800

2008 is in the books - and I have compiled Marin County's stats below.

Overall, our Multiple Listing Service, BAREIS, reported 1,839 transactions in the County of Marin in 2008. This figure includes single family homes, condo/townhomes, business opportunities, farms and vacant land. The total 1,839 transactions represent a 20% decrease from the total figure of 2,717 reported in 2007.

1,543 single family (detached) homes were reported sold in 2008. That figure is down 18% from the 2007 figure of 1,998 homes. While average sales prices held strong for the first quarter of 2008, by the end of the year the average sales price had dropped 24% to $1,055K.

499 condo/townhomes sold in Marin County in 2008. This is about even with the 501 units sold in 2007. The average sales price fell 30% to $365K.

For more information, please feel free to contact me.

Mitch Todd/Realtor(R)

owner, Tam Realty

415-259-7082

1st Time Homebuyer's Seminar: 12/09/08

Mitch Todd (Coldwell Banker) — Mon, 01 Dec 2008 15:22:51 -0800

The current buyers' market has produced some amazing home values in the Bay Area. If you are considering taking advantage of this buyers' market, or if you'd just like to know what to expect when buying a home, join us for this informal, interactive discussion on the home buying process. We will focus on qualifying for a loan, finding the right home, negotiating the purchase and taking title to your new home.

When: Tuesday, December 9, 2008, 7:00-8:30pm

Where:    Old Republic Title Co.
              545 Fourth Street
              San Rafael, CA 94901

Who:

Tam Realty: Sallee Taaffe & Mitch Todd/Realtors
Residential Pacific Mortgage: Nancy Marion/Senior Mortgage Consultant
Old Republic Title Co: Maryanne Cooper/Senior Escrow Officer

All are welcome, but please RSVP as space is limited (and we need to plan for drinks and treats).

Mitch Todd/Realtor
owner, Tam Realty
founder, GreenerMarin
415-259-7082
Mitch@TamRealty.com

It's snowing again in San Rafael!

Mitch Todd (Coldwell Banker) — Fri, 28 Nov 2008 11:43:53 -0800

..yup... snow, right outside Tam Realty's office in San Rafael, CA.

The fun for the kids is open Friday, 11/28/08 'till 8:00pm and Saturday, 11/29/08 from 9:00am 'till 2:00pm.
The 29th annual parade of lights starts at 5:30pm on Friday 11/28/08.

More details can be found at the Parade of Lights website.

Mitch Todd/Realtor
owner, Tam Realty
founder, GreenerMarin
415-259-7082
Mitch@TamRealty.com
Mitch@GreenerMarin.com

Lowest priced land currently offered in Marin County

Mitch Todd (Coldwell Banker) — Wed, 26 Nov 2008 16:40:46 -0800

11/26/08:

Lowest priced land in Marin County! NOW $25,000!!!

Wooded, undeveloped parcel on paved road in the heart of the wonderful San Geronimo Valley (about an hour from San Francisco, and 20 minutes to San Rafael). Buy and hold for future opportunities!

For private showings, please contact me.

Mitch Todd/Realtor

owner, Tam Realty & founder, GreenerMarin

415-259-7082

Mitch@TamRealty.com

Marin County housing stats: Oct 2008

Mitch Todd (Coldwell Banker) — Fri, 21 Nov 2008 13:28:17 -0800

The media is bombarding us with economic information these days. We see it on the television, read it in the newspapers (does anyone still read newspapers?), hear it on the radio and...find it online!

The thing is, most of the information we receive is macroeconomic in nature. So, for those of us interested in the local Marin County housing markets, I'll will continue to produce relevant sales data and, on occasion, even some predictions - as I have for the last several years.
Following are a few charts which help tell the story of the Marin County housing market through October 2008.

Single Family Home sales in Marin County:
* Year-to-date units sold 22% lower than 2007.
* Average sales price in 2008 5% lower than 2007.

Condo/Townhome sales in Marin County:
* Year-to-date units sold 3% lower than 2007 (and on fire in the 3rd-4th quarter).
* Average sales price in 2008 19% lower than 2007.
TOTAL property sales in Marin County:
* Year-to-date units sold 30% lower than 2007.

Predictions for Q4/08 and Q1/09:
* Condo/Townhome sales will continue to outpace the market as the foreclosed and short inventory continues to be snatched up by 1st time homebuyers and investors. Look for approx. 55 units sold per month through Dec. 08 in Marin. Depending upon the Fed's move to slow the foreclosure rate, we may see a leveling off in this market's unit sales in early 2009. Prices to continue to fall until this leveling off occurs.
* Single Family Home sales will remain weak through the end of 2008. In 2009, expect something of a bump in activity in homes under $1M as 1st time home buyers move in to take advantage of the weakened market. This bump will be in volume, not pricetag. Higher priced homes which have maintained their value better than average, may see a weakening in 2009 as demand is stymied by the activities on Wall Street and the banking industries.

If you want to know what your home is worth in this market, or if you are considering taking advantage of some pretty well priced homes on the market today, please contact me.
Mitch Todd/Realtor
owner, Tam Realty
founder, GreenerMarin
415-259-7082
mitch@TamRealty.com

Nina visits San Rafael, CA

Mitch Todd (Coldwell Banker) — Tue, 05 Aug 2008 16:50:28 -0700

The ‘Nina' in San Rafael, CA!

From August 14, 2008 through August 20, 2008, a replica of Christopher Columbus' vessel named the ‘Nina' will be visiting Loch Lomond Yacht Club in the beautiful Loch Lomond Marina in San Rafael, CA. Begun in 1988, this replica of its namesake from the Golden Age of Discovery is a sailing museum, and is a site to behold!

Tours of the vessel are available while berthed at Loch Lomond Yacht Club from Friday, August 15^th through Tuesday, August 19^th. For more information, please contact the Loch Lomond Yacht Club: Sharon 415-686-1247 or Leonard 415-453-5117.

And, as always, if you would like more information regarding the Marin real estate market, please feel free to contact me or any of our agents at Tam Realty!

--
Mitch Todd/Realtor
founder, GreenerMarin
owner, Tam Realty
415-259-7082
415-962-4062 (FAX)

Bike racing returns San Rafael, CA!

Mitch Todd (Coldwell Banker) — Thu, 31 Jul 2008 11:20:18 -0700

Each summer in beautiful downtown San Rafael, we are treated to an exhilarating day of criterium bicycle racing. The Carrera de San Rafael twilight criterium 08.09.08 is almost upon us. This is a wonderful family-friendly event for bike racing enthusiasts and people watchers alike. The racing begins in the early afternoon (start time scheduled for 2:45pm) and culminates with the pro racing around 7:00pm and 8:00pm (for women and men categories respectively).

In addition to the racing, there will be an expo which is always fun to visit - get there early to pick up the free cow-bells which are generally handed out by local vendors to help spur the racers on.

While you are visiting the expo, take a moment to stop by Tam Realty located at 1007 A Street in beautiful downtown San Rafael. We are located between the expo and the mission on A Street.

If you would like more information regarding the Marin real estate market, please feel free to contact me or any of our agents at Tam Realty!

--
Mitch Todd/Realtor
founder, GreenerMarin
owner, Tam Realty
415-259-7082
415-962-4062 (FAX)

Bay Area sales stats for the 1st half of the year

Mitch Todd (Coldwell Banker) — Tue, 29 Jul 2008 23:53:58 -0700

Bay Area mid-year stats - any gold left in them thar hills?

How has the real estate market across the bay area of the golden State of California been holding up?

Only 2 counties' median price tags have lost less than 10%: San Francisco at -3% and Marin County at -2%. And, only 1 county's sales volume reflects a drop of less than 10%: San Francisco at -7%. The largest median price drops belong to Contra Cost County at -30% and Solano County at -25%.

June 2008 Year To Date Comparison:

County	June 07 YTD	June 08 YTD	% Change	June 07 Prices	June 08 Prices	% Change

Total Bay Area	44,281	32,177	-27%	$649,000	$527,000	-19%

Alameda	9,197	6,371	-31%	$587,125	$480,750	-18%
Contra Costa	7,786	6,392	-18%	$582,500	$407,750	-30%
Marin	1,734	1,106	-36%	$840,000	$822,500	-2%
Napa	664	491	-26%	$583,500	$487,000	-17%
Santa Clara	11,663	7,491	-36%	$690,750	$620,250	-10%
San Francisco	3,234	3,001	-7%	$773,750	$747,000	-3%
San Mateo	4,022	2,725	-32%	$775,000	$682,500	-12%
Solano	2,822	2,286	-19%	$432,500	$324,750	-25%
Sonoma	3,159	2,314	-27%	$649,000	$527,000	-19%

To create this chart, I've combined six months of sales volume for all residential units as reported on a monthly basis and I've generated the median of the median sales prices to generate a "median-median" sales price. (monthly data source: DataQuick and ORTC).

If you would like more information regarding the Marin real estate market, please feel free to contact me or any of our agents at Tam Realty!

--
Mitch Todd/Realtor
founder, GreenerMarin
owner, Tam Realty
415-259-7082
415-962-4062 (FAX)

Marin County, CA home sales statistics

Mitch Todd (Coldwell Banker) — Fri, 25 Jul 2008 12:23:55 -0700

Date: July 2008

Since the beginning of the year, the volume of single family home sales in Marin County, CA has steadily risen. Average and median home prices have remained relatively steady in spite of the ever present poor economic news.

However, the lower end of the market (in Marin, say under $1M) is not holding up as well as the upper end of the market. Simply put, the high end of the market is masking the price drops in the lower end of the market.

The below data reflects single family home sales as reported by Marin County's local multiple listing service (MLS).

If you would like more information regarding the Marin real estate market, please feel free to contact me or any of our agents at Tam Realty!

--
Mitch Todd/Realtor
founder, GreenerMarin
owner, Tam Realty
415-259-7082
415-962-4062 (FAX)

Forget the 11:00 news...here are the actual Marin County home sales stats

Mitch Todd (Coldwell Banker) — Thu, 26 Jun 2008 11:33:20 -0700

The following chart presents the actual sales of single family homes in the County of Marin over the last year and a half. These figures were derived from the Bay Area Real Estate Information System (BAREIS).

The figures for June have been extrapolated from month-to-date sales as of June 16, 2008.

Tam Realty's newest listing

Mitch Todd (Coldwell Banker) — Thu, 26 Jun 2008 11:07:04 -0700

Mitch Todd | Tam Realty | 415-259-7082

18 Sunview, San Anselmo, CA

Cute, well priced Morningside home - OPEN SUNDAY 1-4pm

2BR/1BA Single Family House

offered at $615,000

Year Built	1951
Sq Footage	815
Bedrooms	2
Bathrooms	1 full, 0 partial
Floors	1
Parking	1 Covered spaces
Lot Size	5,200 sqft
HOA/Maint	$0 per month

DESCRIPTION

Private, serene and comfortable 2 bedroom home in the heart of San Anselmo. Walk to open space and schools. Enjoy the outdoor spaces with mature landscaping, drip irrigation and lo-volt lighting. Updated kitchen, bath and floorings. Sensible living in Marin. Great Value - lowest priced Morningside listing on the market! Privacy of a home - for the price of a condo!

see additional photos below

PROPERTY FEATURES

Fireplace	Dishwasher	Refrigerator
Stove/Oven	Granite countertop	Yard

OTHER SPECIAL FEATURES

SUNNY San Anselmo location

VERY Private

Walk to award winning schools

Near open space trails

ADDITIONAL PHOTOS

Seller contact info:

Mitch Todd

Tam Realty

415-259-7082

For sale by agent/broker

Equal Opportunity Housing

Posted: Jun 18, 2008, 4:18pm PDT

Gerstle Park Gem $735,000

Mitch Todd (Coldwell Banker) — Wed, 09 Apr 2008 18:35:55 -0700

Enchanting split-level in Gerstle Park with a backyard designed for entertaining. This sun-filled home boasts hardwood floors, slate front porch, dual pane windows, and manicured yards. The kitchen is finished with granite counters, slate floors, Heath tile, and stainless appliances. The attached garage includes a laundry room. This home is move-in ready!

Details and photos at www.64Clayton.com

Mitch Todd/Realtor

founder, GreenerMarin

owner, Tam Realty

415-259-7082

www.GreenerMarin.com

www.TamRealty.com

Bolinas Real Estate Market update: 1/8/08

Mitch Todd (Coldwell Banker) — Tue, 08 Jan 2008 16:59:43 -0800

The small coastal town of Bolinas in Marin County, California is home to a little over 1,200 residents. Located about 30 miles North of San Francisco on California Hwy 1, the Bolinas real estate market consists of fewer than 500 homes.

Since 2005, the logarithmic pricing trend based on price/square foot has declined annually approximately 10%. But, it should be noted that with only around 1 dozen home sales per year, charts and trends might not do a very good job of reporting the overall health of the market.

Following are the homes sold in Bolinas as reported by the Bay Area Real Estate Information Service's (BAREIS) Multiple Listing Service (MLS):

In 2007, 14 homes were sold following an average of 207 days on the market.

Address	Price	Date	Beds	Baths	Sq Ft
26 Wharf Rd	$ 505,000	1/12/2007	3	1	1,182
410 Dogwood Rd	$ 565,000	1/18/2007	1	1	600
550 Dogwood Rd	$ 565,000	6/9/2007	2	1	896
186 Alder Rd	$ 600,000	11/9/2007	2	1	900
45 Wharf Rd	$ 633,000	3/30/2007	3	2	1,554
181 Elm Rd	$ 659,000	6/5/2007	3	3	1,608
350 Juniper Rd	$ 725,000	6/13/2007	2	1	1,190
25 Ocean Ave	$ 727,500	11/16/2007	1	1	1424
395 Yucca Rd	$ 800,000	6/29/2007	3	2	1,960
292 Elm Rd	$ 825,000	7/12/2007	2	1	1246
377 Ocean Pkwy	$ 1,150,000	1/19/2007	1	1	1,300
230 Ocean Pkwy	$ 1,290,000	3/23/2007	2	2	2,328
216 Ocean Pkwy	$ 1,290,000	4/11/2007	2	2	1369
5855 Highway 1	$ 1,500,000	6/6/2007	9	3	9,034

The California real estate market is poised for the beginning of its cyclical recovery this winter and spring. If you are thinking of investing in real estate, the market currently favors you, the buyer.

For more information regarding Bay Area real estate, please contact me.

Mitch Todd/Realtor®

founder, GreenerMarin

owner, Tam Realty

415-259-7082

1st quarter home purchase to maximize tax benefits!

Mitch Todd (Coldwell Banker) — Thu, 29 Nov 2007 11:28:34 -0800

How much tax will I save when I buy a house?

Purchasing a home in the 1^st quarter of the year should maximize the tax savings generated for the first/partial year of home ownership.

In parts of the county where the cost of purchasing a home exceeds the cost of renting a home, residential homebuyers are frequently told that they will "save taxes" by buying a home. So what does that mean? How much taxes will the homebuyer save? When will the homebuyer ‘receive' those savings? And, what else should the homebuyer know?

Since I am neither a CPA nor an attorney, I cannot give tax and legal advice. But, as a licensed Real Estate Agent, and a Realtor with an MBA in Finance, I will take a moment to discuss some thoughts on the topic in the hope that buyers (and sellers) will invest a little time and money to research their concerns before making one of the largest investments of their lives.

Residential homebuyers frequently hear that they will "save taxes" by buying a home. The most common way for a homebuyer to "save taxes" is by electing to itemize their deductions on their annual tax returns. The IRS provides for the deduction of mortgage interest (not principal) and taxes to be deducted in the year in which they were paid (see publication 936). Note, you must elect to itemize your deductions, you must pay the expenses in the year for which you are filing your tax return, and the property must be your primary or second home.

Here's what many homebuyers miss, though. Itemizing your deductions and ‘writing off' your mortgage interest and tax payments only benefit the homebuyer to the extent that these payments (along with other miscellaneous deductions) exceed the annual standard deduction. Thus, not every dollar paid to mortgage interest and taxes are necessarily going to create a tax benefit - especially in the first/partial year of home ownership.

If you want to determine the actual/anticipated annual (or monthly) tax savings generated from your home purchase, here's a general rule of thumb to use. Estimate your monthly mortgage interest expense (only the interest portion of your payment) and multiply that figure by 12. Next, add your annual property taxes. In Marin, California, property taxes are roughly 1.25% of the purchase (or assessed) price. Now, take this sum and subtract the annual standard deduction (2007 Federal Standard Deduction is $5,350-single; $10,700-married, $7,850-Head of Household). If the result is negative - no tax savings will be experienced. If the result is positive, multiply that figure by your annual tax rate that you paid on your last tax return. This is your annual tax savings. Keep in mind, your actual tax rate this year may be different from last year's tax rate due to rate changes or changes in your income level.

Now consider this, if you purchase a home that closes escrow toward the end of the year, you may not be able to deduct enough mortgage interest and taxes to exceed the standard deduction - and you'll have no tax benefit realized until next year. The more expensive the home, the more likely that you're mortgage interest and tax payments - even for a partial year - will exceed the standard deduction.

Here's an example: Joe is about to purchase a condominium in Marin, California for $400,000. He is currently a renter, and he as filed his taxes utilizing the standard deduction in the past. The monthly mortgage interest on the new property estimated to be $2,000/month, and property taxes are $420/month. If Joe closes escrow on the home on November 1, he'll pay 2 months mortgage interest payments ($2,000 x 2 months = $4,000) and he'll pay 2 months of taxes ($420 x 2 = $840) this year. The total of these payments equal $4,840 - which is less than Joe's standard deduction, so Joe would not likely experience any tax advantage this year. Other variables to discuss with your CPA are prepaid points, prepaid mortgage interest and prepaid property taxes.

So, why does this matter? Because some homebuyers are receiving advice that lead them to adjust their payroll withholdings to take advantage of these tax savings. Problem is (1) the tax savings may not exist in the first (partial) year and (2) the buyers' standard deduction must be taken into consideration when calculating the additional tax benefit generated from mortgage interest and tax payments. Homebuyers who do wish to modify their payroll withholdings to take advantage of the tax benefits of home ownership should do so only after carefully considering all the variables of tax computations and/or consulting a CPA.

So. Here's the good news! Purchasing a home in the 1^st quarter of the year should maximize the tax savings generated for the first/partial year of home ownership. This is the time to find your new home and start experiencing the benefits of home ownership!

Mitch Todd/Realtor

founder, GreenerMarin

owner, Tam Realty

415-259-7082

4/2.5 in the Dominican area of San Rafael

Mitch Todd (Coldwell Banker) — Mon, 12 Nov 2007 11:27:53 -0800

Priced way under comparable properties!!!

10 Broadview, San Rafael is a wonderful 4 bedroom, 2.5 bath home in one of the best areas of San Rafael.

THIS HOME HAS BEEN PRICED USING A PRICE PER SQUARE FOOT OF $382 - THAT'S THE LOWEST PRICE PER SQUARE FOOT OF ANY 4 BEDROOM HOME WITHIN 1 MILE.

The home is just minutes from the 101, Whole Foods, Trader Joes and downtown San Rafael. Wonderful Mt. Tam views from almost every room.

This is not a fixer!

For more information about this home, please contact me.

Mitch Todd/Realtor
founder, GreenerMarin
owner, Tam Realty
415-259-7082

Domican 4 bedroom - priced 33% under comparables

San Geronimo Valley Real Estate Update 10/31/07

Mitch Todd (Coldwell Banker) — Thu, 01 Nov 2007 22:24:47 -0700

Here is the real estate market update for the beautiful San Geronimo Valley in Marin County, California as of 10/31/07:

Currently, 19 single-family homes are for sale in the valley. Median home price is $750K or $530/square foot. On average, these homes are priced approx. 17% above the recent sales statistics.

Mitch Todd/Realtor

founder, GreenerMarin

owner, Tam Realty

415-259-7082