HOME ENERGY REBATES & INCENTIVES
Marin County Offers $600 for Home Energy Assessments!
A $600 rebate is available to Marin homeowners for getting a home energy efficiency assessment with a participating contractor through the Energy Upgrade California program.
Visit www.co.marin.ca.us/energyupgrade to learn more or call 415-473-4197.
Foreclosures fall, but there’s a ‘rising tide’ ahead…
The number of homes entering foreclosure dropped in February, but a new up-turn may soon be on its way.
The reason? The $26 billion settlement between 5 major banks and state attorneys general over past foreclosure practices.
(Source: CNN Money)
Buying or Selling a home in Marin County…you might need a resale inspection report!
The following information about resale inspection program fees and reports is provided by city and town governments in Marin County. If available, links to Web sites are provided below. Otherwise, please see the notes below concerning city/town information about the programs.
City of Belvedere (415) 435-3838 Report: Application for resale inspection available after required sewer lateral video is completed. Call City of Belvedere for instructions and an application for residential building records report. Dowload the Form Fee: $150 and is based on a final building inspection fee.
City of Corte Madera (415) 927-5050 Report: not posted on website yet – contact City of Corte Madera – For building permit application go to: Dowload the Form Fee: $130 + $55 each unit in excess of 2 — see fee schedule at Dowload the Form
Town of Fairfax (415) 453-1584 Report: Dowload the Form Fee: $400 single family residence + $75/each additional dwelling
City of Larkspur (415) 927-5110 Report: form not on website – city recommends come in to fill out form and pay the fee at their offices at 400 Magnolia Avenue, Larkspur. Fee: $130
City of Mill Valley (415) 388-4033 Report: form not on website – city recommends fax form and pay fee to schedule inspection. Call City of Mill Valley to receive an inspection request form. Must pay the fee before an inspection can be scheduled. Fee: $225
City of Novato (415) 897-4311 Report: Dowload the Form Fee: $274.00 each dwelling unit +$37.00 each additional unit on same property
Town of Ross (415) 453-1453
Town of San Anselmo (415) 258-4600 Report: For information, click here. Dowload the Form Fee: $203
City of San Rafael (415) 485-3070 Report and Fees: Dowload the Form
City of Sausalito (415) 289-4100 Report: not available on web site – pick up original form from City of Sausalito, 420 Litho St., Sausalito. Fee: $100 for Open/Close Report from City of Sausalito
Town of Tiburon (415) 435-7373 Report: Required NCR report from Town of Tiburon Fee: $150 + $75 any second unit after.
(Source: Marin Association of Realtors)
Marin County Real Estate Activity Report
The California Association of Realtors Pending home sales rose in February, as did the share of distressed properties sold.
Pending home sales are forward-looking indicators of future home sales activity, providing information on the future direction of the market.
CAR’s stats are as follows:
56% of property sales were distressed sales (short sales, bank owned etc)
44% were regular sales (or in Marin speak “organic” sales)
* 43% of Marin’s market was distressed sales as compared to 2010 when the distressed sales were at 40%.
So what does that mean for Marin County since real estate is cyclical and seasonal? Also, since each real estate market has its submarkets how do you know if you are in a buyer’s market or seller’s market? Well that’s easy…take a look at the graph below. Read more
No Charge Webinar: What Every Property Owner Must Know To Avoid The Money Pit In A Property Defect Case
To help you understand the important steps to deal with property problems, Lerman Law in San Rafael CA will be conducting a FREE webinar where you will learn:
- Special laws that may apply to your property
- The 3 most likely causes of your problem
- The 4 steps you MUST take immediately to put yourself in a strong position to maximize your dollar recovery for your claim
- 6 of the biggest mistakes to avoid–any one of these could prevent you from recovering any money for your claim
- 7 potential sources of recovery for your claim
- The analysis you MUST go through before you file any claim
- And much, much more!!
To register for the no cost webinar simply click the link, Lerman Law Money Pit Webinar
Deals are everywhere in Marin County! If you open your eyes you’ll see them!
With a large amount of bank-owned properties on the market, it’s a great time for homebuyers looking for good deals. But bidding on bank-owned homes also means the homebuyer has to compete with investors bringing cash offers.
Fannie Mae’s got a new program for their Real Estate Owned (REO) properties. For homeowners, this is a way to buy properties that have reduced prices BEFORE investors can buy them. After the property hits the market, you’ve got fifteen days to look at the property.
Qualified homebuyers must be owner-occupants and can receive up to 3.5% of the final sales price, which can be used toward closing cost assistance including a home warranty, if desired and available. Eligible offers must be submitted on or after Sept. 23, 2010, and must close by Dec. 31, 2010. The sale must close within 60 days of the offer being accepted.
Let me know if you are interested in this program. It is being offered through real estate professionals to give their clients the heads-up. Properties available under this program can be viewed on the REO Web site www.HomePath.com.
Marin County Property Tax…
In Marin County Ca property taxes on average are assessed at a value of 1.25% of the property’s appraised value. The assessed value (the value given by the tax assessors office) is typically much lower than the fair market value. Let’s say for instance that you purchased a home that is worth $995,000 you can anticipate the property tax to be $12,437.50 per year or $1,036.45 per month. Stings a little bit doesn’t it. The higher the purchase price, the higher the tax payment.
Ever wonder where that money goes and how its distributed among the city and county? Take a look at the chart below:
*ERAF shifts local tax revenues from cities, counties, and special districts to a state controlled Education Revenue Augmentation Fund. The state uses this fund to reduce their obligation to the schools. ERAF funds have been used by the State since ’92 to help school and community college districts meet minimum funding requirements.
Before you purchase a home in Marin County why not look up the property tax? Check out and see what the current property owner is paying in property taxes. If you are purchasing the home for more than what the Seller purchased it for or perhaps you were able to get in on a good deal with a short sale, bank owned or foreclosure purchase checking the property tax will give you good insight as to what you can expect to pay in property tax.
If you already own a home and you’re currently living in a upside down or down market and homes all around you are selling for less that what you purchased it for you might want to get your property’s value reassessed. Its a simply procedure, any real estate agent can help you with the information you need and you simply need to send in a non-refundable processing fee along with your form called Application for Changed Assessment. It would behoove you to submit the form. Why pay property tax on a home that has lost its value? You could significantly reduce your property tax.
Just remember that when you are submitting the application it does not relieve you from the obligation to pay the taxes on your property on or before the due date shown on your tax bill. If a reduction is granted, a refund of your property taxes paid will be made by the county
For those of you that are unsure as to when property taxes are paid check out the table below:
Where can you find out information about Contractors in California?
Last week we wrote about what to do if the home you are interested in is “red tagged” and who you should contact to see if building permits still need to be filed. Today we thought we’d give you some good information about the contractor you’re about to hire.
Recently a client needed to hire someone to paint, spackle, refinish floors and redo aspects of the kitchen without having to structurally change anything. We got 5 bids and compared notes. 3 contractor’s were licensed and 2 were unlicensed. All 5 had great recommendations but what it came down to the client was not only price but whether or not they took the steps to get licensed by the State. Why was this critical? The Contractors State License Board governs contractors and provides rules, regulations. Whether or not you choose to work with licensed contractors is up to you. There are many homeowners and investors that have no qualms about using very experienced unlicensed “contractors”. Most bids with an unlicensed contractor come in at a competitive rated but the question is are you willing to deal with the repercussions if something does go wrong?
Here are some basic facts:
For more information about hiring a contractor, what rights you have and how to choose a contractor make sure you click the CLSB Consumers Overview.
Buying a home that was “red tagged” by the County
I had a Buyer call me the other day saying she was interested in a home in Marin County that that was listed for $199K. At first I raised my eyebrow. $199K for a single family home in Marin County? Read more
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