Issue #3 | Aug. 14, 2024
Greetings | Buzzworthy Sales | Good Times | Good Givin’ | Food Scene By The Numbers | The Tool Shed
I know what's been on your mind...no, not the closing ceremony of the Paris Olympics! The DROP in mortgage rates, right!? We're so excited to finally see some movement. I've been consuming, consulting and commiserating all I can, with mortgage brokers and colleagues alike, on what this will mean for our already tough buyer's market when all cash offers are not an option.
Let's break it down, as of Aug 13 rates include:
30 Year Fixed hovering around 6.2%
15 Year Fixed coming in under 6%
5/6 Arm sitting at 6.7%
These rates are courtesy of RatePlug; if you'd like to talk to a lending pro, I'm happy to make introductions; whether it's your time to jump into the buyer pool or you've been holding out for a refi of your current loan, pay attention as these rates will likely continue to drop in the coming months.
Back with you in September after settling my youngest, Tyler, into his Junior year abroad program at American University, Paris!
Au Revoir, Suzanne
Buzzworthy Home Sales
(July 28 - Aug 4)
'Almost' Downtown | Mill Valley
List Price | $1,695,000
Sales Price | $2,305,000
Price Per Sq Ft | $1405
Days on Market | 12
6 Offers
2 Bed 3 Bath
Listing Courtesy of: Danielle Lazier | MLS: 324046954
Alto | Mill Valley
Original List Price | $1,480,000
Sales Price | $1,850,000
Price Per Sq Ft | $2335
Days on Market | 7
5 Offers
2 Bed 1 Bath
Listing Courtesy of: Renee Chuljian | MLS: 324054290
Good Times | Sublime Events
SOUND SUMMIT | SEPTEMBER 7
Want to be moved by the music AND show your love and support of our beloved Mount Tam!? Then, hurry up and buy your tickets before they're sold out...bus passes to the outdoor Mountain Theater event are already gone, so hop on your two-wheeler or hoof it on one of 4 trails leading there: Mountain Theater, Old Mine, Rock Spring and Matt Davis.
The annual celebration is brought to us by Roots & Branches Conservancy. They've raised over $250,000 for Mount Tam to date and we have them to thank for the many benefits we enjoy - think trail and bridge restorations to fire prevention and water conservation, emergency equipment, and visitor services.
Good Givin' | A Worthy Cause
Whether you're a cycling enthusiast or teaching your tykes how to ride, you've probably got a few rusty or used bikes collecting dust. Here's an opportunity to upcycle and recycle them into a worthy cause in our community.
Enter San Rafael's Re-Cyclery Bike Shop, the retail arm of nonprofit Trips for Kids. Founded in 1986 by Mill Valley native Marilyn Price, the organization was born from a simple yet powerful idea. Inspired by the stunning views of Mount Tam and the children she encountered while volunteering at a local soup kitchen, Price envisioned a way to share the joy of cycling with underserved youth.
Today, Trips for Kids offers a range of programs, including Trail Rides, Mobile Bike Workshops, and Earn-A-Bike to empower young people. The Re-Cyclery, meanwhile, refurbishes donated bikes and sells them at affordable prices, providing a valuable resource for the community while supporting the nonprofit's mission.
Food Scene | Passion Project
One of my 'must-haves' when making the move to Mill Valley was my proximity to farmers markets. Coming over from Berkeley where I was a devoted patron of the markets all across the coastal East Bay, I had been spoiled and wanted to ensure I would have access to farm fresh, local produce any day of the week.
And, to be sure, we have an embarrassment of riches in Marin County - from the superlative San Rafael Civic Center markets on Sundays and Thursdays, Town Center at Corte Madera on Wednesdays to evening markets in Fairfax on Wednesdays and downtown San Rafael on Thursdays.
Mill Valley is home to two markets: year-round on Fridays at the CVS parking lot on Blithedale and the summer-autumn market on Tuesdays at Strawberry shopping mall.
Bon Appetit!
MILL VALLEY STRAWBERRY
Photo Credit: Mill Valley Farmers Market
MARIN REAL ESTATE REPORT
By The Numbers | Marin Stats for Week Ending August 4
29 Single Family Residences on MLS closed | 34 last week
34% of Closings had Multiple Offers | 26% last week
7 of Closings were over $2 million | 8 last week
45 Single Family Residences on MLS went into Contract/Pending | 35 last week
9 of Pending Sales over $2 million | 7 last week
35 Average Days On Market for pending properties | 44 last week
259 Coming Soon/Active Single Family Residences On Market | 264 last week
94% of List v Sales price Avg for Single Family Residences sold | 93.7% last week
$1.7M Avg Sales Price for all Single Family Residences sold | $1.89M last week
48 Avg Days On Market for all Single Family Residences sold on MLS | 46 last week
THE TOOL SHED | IS ADU 4 U?
By Michael Twing (Contractor's License #891692)
In our continuing conversation of ADU’s we now turn to the Pre-Construction Phase aka details, details, details.
The pre-construction phase is where we meticulously plan and document every aspect of the project to ensure its success and manage costs effectively.
For any project, comprehensive documentation is vital. While a garage conversion might require fewer documents than a new build, they're equally important. Primary documents are the drawings and the scope of work. There are often two sets of drawings: permit drawings for official approval and more detailed construction drawings to guide the build.
However, the Scope of Work outlines every step, from initial setup and protection to demolition, framing, and finishing touches. This document is your go-to resource for questions and clarifications. It helps to prevent misunderstandings, delays, and unnecessary discussions. A clear Scope of Work is all about the details that usually includes the minitua that you won't typically find in the plans.
Another critical aspect of pre-construction is finalizing finishes and products such as flooring, plumbing fixtures, cabinets, and lighting; these can significantly impact the project's overall cost. By doing this pre-planning it allows you to massage the budget as needed. We'll explore these factors in more detail as we delve into specific project phases.
In the meantime, do your research: talk to friends, family, or neighbors who've completed similar projects. You might also find helpful information in the August 8 edition of the City of Mill Valley Planning Dept. newsletter that highlights their new affiliation with ADU Marin offering free consultations throughout Marin County (see link below).
Next up: Mobilization. You got this!
Photo Credit: ADUMarin.org