Issue #5 | Sept 18, 2024
Greetings | Buzzworthy Sales | Good Times | Good Givin’ | Food Scene By The Numbers | The Tool Shed
Hi Friends.
As of a few hours ago, the Fed cut interest rates half a percent so the infographic below is even more favorable for buyers!
We've entered one of the most prolific times of the year to purchase a home - aka, a Buyer's Market - so I want to share a snapshot of the improved mortgage market that will hopefully allow more first-time buyers and trade up buyers into homeownership.
I recently attended a California Association of Realtors Affordability webinar and as you'll see from the chart below, it clearly states how drastic this improvement is for traditional loan buyers. With this example, let's say you have a maximum budget of about $4400 a month towards your mortgage. Just about one year ago that budget would have limited your purchase price to about $750,000. That same buyer today can now afford a home just under 1M - that represents a HUGE increase in purchase power! And that's with a 30-year fixed; just imagine what an Adjustable Rate Mortgage (ARM's) could buy you.
If you would like to explore the new loan landscape, let's connect you with one of my superstar mortgage broker friends. They can explain the right loan product for you and your needs.
Yes, there are other hurdles to affording that one million dollar home or condo in Marin County...such as, do they even exist anymore? YES! There are currently 30 active and coming soon single family homes and 103 active and coming soon condos and townhomes on the MLS UNDER ONE MILLION DOLLARS.
Moral of the story: don't give up! Home ownership is still within reach. With the right people beside you - leveraging experience, dedication, creativity, tenacity and grit - we won't rest until we hand you the keys to your new home.
Cheers, Suzanne
Buzzworthy Home Sales
(Sept 8 - Sept 15)
Stinson Beach
List Price | $4,750,000
Sales Price | $5,000,000
Price Per Sq Ft | $2432
Days on Market | 70
2 Offers
3 Bed 3 Bath
Listing Courtesy of: Barbara Sherfey Mitchell | MLS: 324040106
Sycamore Park | Mill Valley
List Price | $3,995,000
Sales Price | $4,500,000
Price Per Sq Ft | $1615
Days on Market | 7
2 Offers
4 Beds 4 Baths
Listing Courtesy of: Kathleen Clifford | MLS: 324052489
Here's a snapshot of an average month's police activity in the Bayside town of Tiburon...a home here will throw you back about $3.7M
(annual average, single family sales price, BAREIS MLS)
Image Courtesy of Town of TIburon
Good Times | Sublime Events
FREE DOCUMENTARY FEATURE SCREENING FROM FILMMAKER STAFFAN JULEN | SEPT. 26
I’ve always had a soft spot for documentary films and having produced premieres for over 100 of them during my tenure at HBO, I feel fortunate to have played a small part in evangelizing some of the most important and neglected issues of our time. Lucky for us in the Bay Area, we are exposed to many of these unsung heroes of the film business through the efforts of the California Film Institute (aka, the non-profit org behind the Mill Valley Film Festival & Doc Lands).
If you aren’t currently a member, I urge you to subscribe to their email list as they frequently offer free, community screenings. The next offering is a story close to home - WAITING FOR LIFE - the 2023 documentary from Swedish director, Staffan Julén, profiles two San Quentin prisoners who are reluctantly cast in the prison’s theatrical production of “Waiting For Godot.”
With the backdrop of daily violence and complete deprivation of freedom, the play soon becomes an isolated space for contemplation and self-reflection. The leap to the theater stage is not as far as they had thought; after all, their upbringing in a gang environment has already laid the groundwork for a form of acting. Roles that they did not choose themselves, but that have led to the crimes that landed them each with a 30-year sentence.
Bonus: Director Julén & leading Swedish Criminologists Amir Rostami and Jerzy Sarnecki; Film Protagonists “Twin,” “Happy” and Lonnie Morris, President & Co-Founder, No More Tears will be in attendance for an audience discussion after the screening.
MARIN REAL ESTATE REPORT
Weekly Stats Ending September 15
Good Givin' | A Worthy Cause
In the second year of the Pandemic, we decided it was time to adopt another pup. Michael had lost Lola in 2013, his trusty partner of 15-years, who found him on the streets of San Francisco, and he was finally ready to embark on another dog journey.
While vacationing in SoCal, I saw a Nextdoor post of Frankie (then dubbed, Zeus) and was smitten. I secretly arranged a meet-and-greet with his foster mom for the day after we returned. It was love at first sight, all around.
The Kern Project is a remarkable non-profit founded by Melinda of Mill Valley’s cherished Doggie Styles, and Cookie of Corte Madera's Tamalpais Dog Grooming. A severe animal overpopulation problem exists in Kern County, where thousands of animals land in the shelter, or are abandoned on the streets. Many of the animals who end up in the shelter are euthanized. While there are incredibly hard-working and life-saving rescuers on the ground in Kern County, the Kern Project tries to do their part by transferring some of the homeless animals to the Bay Area. Dogs aren't the only game in town: horses, cats, goats and the like will ocassionally pop up on their adoption circuit.
Rescued dogs and animals are transported to the Bay Area every two weeks. Here they are provided vet care, boarding, care and fostering until they’re ready to join their new family. New arrivals are frequently posted to the Kern Project Facebook and Instagram pages.
Brownie Points: 100% of the funds raised cover routine veterinary care including spay/neuter, emergency care, boarding, transport and general care of the animals they save. Average adoption fees are $300.
Food Scene | Passion Project
Time to talk pizza! Our family is quite obsessed with these humblest of ingredients: yeast, flour and water; our 48-hour dough and seasonal toppings crisped to perfection in Ooni ovens are probably the best I’ve ever had outside of Italy. Michael has a saying that pizza will save the world; it’s the one thing we can all agree on - whether you like cheesy-gooey-yumminess, Detroit, Roman, or Deep Dish style or California artisan - there’s truly something for everyone.
Over the years, we’ve tried most of Marin’s best pies: Tony Tutto, Piccolo, Olivers, Creekside, Stefano’s, Rocco’s, Bar Bocce. Which is our favorite? As of this release, we’re going to have to go with...
Pizzahacker: The Tam Junction location opened during the early days of Covid, when this Bernal Heights-cult-favorite crossed the Golden Gate to partner up with The Junction Beer Garden & Bottle Shop, serving up their crisp, chewy, 14-inch, sourdough pies. The outdoor space is enormous, featuring: a landscaped yard, communal picnic-style tables, playground climbing structure, and firepits flanked by Adirondacks. Dine after 7:30pm or be prepared for rambunctious toddlers, ravenous dogs and cleats-clad bikers all taking in the offerings of this chill spot. Frequent live music & comedy shows round out the fun, along with 30 rotating beer taps.
Insider tip: Can’t wait 48-hours for the perfect dough? They sell prepared mounds at a great price.
Bon Appetit!
THE TOOL SHED | IS ADU 4 U?
By Michael Twing (Contractor's License #891692)
Welcome back readers! I’ve been on a few projects myself, including trimming out an ADU in Ojai for an old friend. More on that as we progress through the activities.
Now that we have design concepts, drawings, scope of work, planning and permits, it is time to actually put the belt on. In reality, probably not the belt.
Mobilization is tooling up, protection materials, drops, tape, plastic sheeting, for surfaces, landscape and finishes to protect, moving tool storage on site, landscape protection, the list goes on. Most importantly, ordering supplies and materials, etc. It’s the first of many progress payments to get the ball rolling. I prefer a slow start to get familiar with the structure - explore where the shut offs are, things like that. What’s critical in this activity is understanding we will most likely be working in a space that the owners are living in or adjacent to: the crucial relationship between contractor and owner usually starts here.
We need to clarify the basics: parking and debris site if a debris box or trailer is needed; intros to neighbors, if applicable; where to take breaks and lunch; which facilities are on and off limits or agreeing upon the best spot for a porta-potty.
Mobilization may take a few days considering the project; surface protection alone could take a day. This phase sets the tone and expectations of the entire project and is critical to ensuring you, the homeowner, has faith that the project will be completed in the hands of the contractor. Too often, contractors don’t cover this phase in their scope of work. At the close of this series, I will share an example of my detailed scope of work that includes this phase.
It’s critical that in the Mobilization activities scope that these details are up front, saving added cost later and maintaining your contractor relationship. These neglected items can also lead to delays - many building products have long lead times and rush orders come at a steep price.
Lastly, this is also the time to start communicating with all the subcontractors. I like to keep my subcontractors involved and up to date since 90% of the job is showing up!
Next up: getting-dirty-time with demolition. You got this!