bank owned: Novato, Marin Real Estate Market Overview, August 19, 2009 - 08/24/09 04:09 AM

Can't believe summer slips by so quickly!  I last posted Novato Statistics on April 1, 2009 and now is the later part of August.  Students are back in school and we are heading into fall.    
During the past four months, with housing prices dropped 20%-30% and certain condos at 50% drop (the ones with problementic HOAs), stimulus plan, attraction of the 'up to $8,000 credit back', interest rate staying low, regular sellers holding onto their properties unless they have to sell; the supply remains low and demand has heightened.  All these contribute a shift in the percentage of houses under contract, moving most price ranges into … (2 comments)

bank owned: Fannie Mae Suspends Foreclosure Sales, Major Lenders Follow Suit - 02/14/09 08:52 AM
Fannie Mae announced a suspension of all foreclosure sales and evictions of occupied properties through March 6 in anticipation of the Administration's national foreclosure prevention and loan modification program.
While Dow Jones Newswires reported that JPMorgan Chase, Citygroup, Bank of America and Wells Fargo have committed to temporary moratoriums (suspends) on foreclosures as the government works on a financial stability plan aimed at keeping people in their homes. 
The following are briefly what was announced by major lenders -
JP Morgan Chase - New Owner-Occupied residential loans that are owned and serviced by JPMorgan Chase.  As with Fannie Mae, the moratoriums will remain … (6 comments)

bank owned: Marin County Real Estate 2008 Year End Results vs. 2005, 2006, and 2007, Straignt from MLS - 01/30/09 03:50 PM
The Bay Areas Real Estate Information Systems (BAREIS) Multiple Listing Service (MLS) for Marin County, CA, just released 2008 Year-End Statistics in comparison to those of 2005, 2006 and 2007. 
A Reminder and/or Refresher - 2005 and 2006 were full blown Sellers Market in Marin County where houses wentin a blink of eye and multiple offers abound, while 2007 saw the tail end of the frenzy sellers market, and the start of slight downturn. 
By 2008, everything changed.  2008 was a very difficult year for sellers - starting with the bubble deflating, and lending industry collasping where there was virtually no money to … (2 comments)

bank owned: Take Advantage of Marin County Bank Owned (REO) Properties Now! - 12/28/08 09:53 AM
This is one of the very rare times in history where there are bank owned homes in Marin county, coupled with low interest rate, this is a great time for buyers to take advantage of the current buyers market. 
I have many clients who asked me about Bank Owned (REO - Real Estate Owned) properties in Marin county, although Rare in comparison to other counties in California, we are seeing more bank owned properties in Marin county with the majority in Novato, then San Rafael, and trickle down to Southern Marin county.
Several of my clients have taken the opportunity and bought bank owned homes, a couple … (0 comments)

bank owned: Novato Real Estate Market Biweekly Overview, October 22, 2008 - 11/13/08 04:22 PM

Novato Real Estate Market statistics stays pretty flat overall with a small 4% increase in pending sales compare to a month ago on September 24. 
The ratio is held steady by dwindling inventory - overall inventory dropped by another 10%, from 370 to 348; again due to more pending sales and either sellers taking properties off the market or waiting for the market to move upwards before they sell.   
The highest increases in pending sales again, is the starter single family homes priced under $600K, with up to $500K at 41% and $500K to $700K at 30%; mutual to slightly sellers market - mostly fixers, REOs (bank … (0 comments)

bank owned: Novato Real Estate Market Biweekly Overview, September 24, 2008 - 09/24/08 07:13 PM

Novato Real Estate Market statistics continues to inch upwards in overall sales percentage compare to two weeks ago on September 10,
The overall inventory dropped 10%, from 410 to 370, results of more pending sales and sellers taking properties off the market unless they 'have' to sell.  Less inventory will have a positive effect on housing prices as there are less supply. 
The highest increases in pending sales are the starter / investment homes - condo/townhomes and single family residences under $500K - mostly fixers, REOs (bank owned), short sales, all bargains from one or two years ago. 
Both categories, with more than 50% sales, are … (0 comments)