Marin Real Estate, Marin Realtor and Short Sale Foreclosure Expert - Tom Verkozen

Downsizing Your Home – If not now, when?

Posted on March 30, 2012 by verkozen

You Gotta Believe!

Over lunch Jerry, a long-time friend who loves the $2M San Rafael home he and his wife built, said they plan to downsize next year. This gets the gears grinding … even if you love your home, leaving it is an important option.

Downsizing, more than a financial alternative, is an option best explored while you have the vitality you have right now.

Financial Considerations

According to Freddie Mac the costs (taxes, insurance, repairs) of owning a paid off $500,000 home totals around $20,000 per year … this is the general amount of income you’d get from investing $375,000 … for Jerry the income from $1.5M in investments is eaten each year by his home.

If Not Now, When?

Delaying your planned retirement date for three or four years is an option many people consider. The risk is that ‘things’ (declining health, age discrimination, layoffs, the need to care for a family member and so forth) tend to get in the way.

Your Next Great Adventures

Congratulations to Michele, who sold her lovely bay front San Rafael home and just got into escrow on a new, well-located and beautiful condo. She’s busily enjoying the opening of a new life chapter and in doing so getting to choose the narrative.

Downsizing ranges from selling and purchasing a smaller, less expensive piece of real estate to modifying one’s mortgage to short selling or simply selling and renting. The constant in downsizing is the opportunity to choose your narrative as you begin a new chapter of your life.

Ready for adventure? Call and let’s talk …

Posted in Adding Value | Tagged Downsize, San Rafael | Comments Off

Top Quality Real Estate, Marin and Elsewhere

Posted on March 21, 2012 by verkozen

Highway 1, Cayucos

In an idyllic, south-facing coastal California town where the locals know that even while they bask in the sun they will often see Moro Rock shrouded in fog, The Brown Butter Cookie Company of Cayucos, owned by the marvel sisters Traci Nickson and Christa Hozie, is moving into stunning new digs in a building lovingly called BIG RED.

98 N Ocean, Cayucos

BIG RED was built in an historic-recreation-style of such quality that Jay O’Brien gave it the highest marks of his 17 years as a commercial building inspector.
Nadine and Andy Lilly, local real estate brokers with whom I’ve worked in the past, regaled us with the quality right down to the roof details.
Broker Dale Kaiser suggested that a buyer would need a bottle of Glenlivet to justify the purchase. We’ll settle for a local pinot … Hey, Dale, how about a 2007 Sea Smoke Ten?

The Brown Butter Cookie Company

The Brown Butter cookies are …. AMAZING … my favorites … the Original eggless brown butter sea salt cookie … www.brownbuttercookies.com … a cookie with a unique taste balance of sweet and salty … loving-kindness in the creation… and a texture that rates a ‘my oh my’ …. tour buses stop at the doorstep to allow tourists to gather some of the daily output of 6 – 8000 handmade cookies, cookies created before your eyes on a summer beach day.

Back to real estate … buying the best is a result of the flight to quality (Asia Report estimates that China will invest $2,000,000,000,000 ($2T) in the next eight years … in their search for quality …

In the instant of walking into the beautiful, open downstairs section of BIG RED I knew, as a 30 year real estate broker, a state licensed medical intuitive (Academy of Intuition Medicine) and UCLA engineering graduate, that BIG RED will be as carefree as any piece of real estate can ever be.

In an era of uncertainty and instability a bold building in a keystone location with superb attention to detail is the kind of income producing asset most people only dream about owning … if this level of quality in an investment speaks to you, call me!

Next up … I show a client Villa Belvedere, a wonderful view home at 425 Belvedere Avenue, Belvedere … an estate offered at $5M per bedroom. Now if this gets you to thinking, ‘hey, I want quality’ … let’s talk the talk and walk the walk. Call me!

Posted in Bargains and Best Buys, Belvedere | Tagged Belvedere, Brown Sugar Cookie Company, Cayucos | 1 Comment

Marin Real Estate – 425 Belvedere Ave, Belvedere, …. Short Sales, Sneak Previews and more

Posted on March 19, 2012 by verkozen

You Gotta Believe

Marin real estate is booming, almost as much as San Francisco real estate. I’m excited.

Most exciting … 425 Belvedere Ave, Belvedere is coming on the market … and rare as it may be to be showing a property of this caliber, I am. 425 Belvedere Ave is offered at $45M. This is a stunning nine bedroom view home with a motor court that will hold fifteen cars, 6000 square feet of terraces, the mandatory spa, three car garage, 50’ pool, wine cellar and so much more that it’s music to my ears to be showing this beauty. Yummy is the word … and I haven’t seen it yet!

Second most exciting is 311 2nd Ave, Sausalito. Big views, smaller price ($1,459,000) and open for a few set showings before (IF?) it goes on multiple listing in May. The moving vans are coming so there will only be a few showings. Want to go see? Call me …

For the more practical minded buyers (you, me and Billy McGee), there are a couple of short sale condos coming up in Redwood Village … a grand 1910 four bedroom home in Ross in the mid-$2Ms … a Tam Valley home for just under $1M … a couple of four bedroom homes in Sleepy Hollow .. a home on La Loma in San Rafael in the low $6’s … a charming home with 65 stairs in Fairfax … homes, homes, everywhere.

Think: What is it I want? What will make me happy? Do I want a big view of the bridges, the City, a boat dock?

Or let’s talk … what is it you want? ….

If you want to see the finest of Marin real estate, 425 Belvedere Ave, Belvedere or 311 2nd in Sausalito, contact me. I love to shop and will make your quest for Marin Real Estate fun.

Posted in Bargains and Best Buys, Belvedere, Marin, Ross real estate, San Rafael | Tagged Belvedere, Ross, short sale | Comments Off

San Anselmo foreclosures and short sales — update

Posted on March 14, 2012 by verkozen

There's value out there

In San Anselmo foreclosures and short sales represent 14 of the 58 properties on the market. Of the 14, four are foreclosures, and of the four, half are in escrow.

2 Spruce is a foreclosure that was on the market with Nick Rasic priced at $499,000 but is now listed by George Desalvo at $369,900. After eight months 2 Spruce, San Anselmo, an interesting home that is definitely not for the intrepid, is in escrow. This is a home I’d mentioned before and now it’s gone ….

The other bank-owned home in escrow in San Anselmo is 66 Crooked Lane. This three bedroom home went into escrow after two weeks and is still in escrow two months later … let’s not imagine that selling REO homes is easy but good luck to Bill.

The two available homes that are not in escrow are:

The remote, rustic but cute 10 Deer Park Lane (okay, not that remote), a three bedroom home that was just reduced by Lee Spelman from $430,000 to $375,000. Want to go see? Call me!

The central town, two bedroom, 881 square foot condo at 76 Ross Avenue that just got reduced from $460,000 to $425,000. Yummy good buy!

There are ten short sales, five in escrow: 1116 Sir Francis Drake, 16 Foothill, 30 Dutch Valley, 545 Oak (priced at $2.4M) and 19 Allyn.

Those available short sales include the one bedroom condo at 84 Madrone, the three bedroom home at 134 Woodside, the cute home at $179 Scenic ($599,000), 7 Hillcrest ($650,000) and then there’s the tenant occupied (call ahead to give me time to set your showing) home near town that began its recent listing history at $945,000 and is now a cool $675,000. (This home was in escrow when it was priced at $725,000).

That’s all you get to read right now about San Anselmo foreclosures and short sales … the best bet is to call and let Michele (258-4125) or me show you some great values. So call now and let’s go shopping.

Posted in San Anselmo, Short Sales in Marin and Sonoma | Tagged bank owned, foreclosure, Michele Barton, San Anselmo, Short Sales | Comments Off

Belvedere Estates with Bay Views … now on the Market

Posted on March 7, 2012 by verkozen

In Marin County on a marvelous, warm and sunny day my real estate tour began in the tony town of Belvedere where James Cottle and I saw three marvelous estate homes.

316 Golden Gate, note the floating lawn

First on the tour was 316 Golden Gate Avenue, a stunning four bedroom home on the crown of the island offered at $2.5M (actually $2,495,000) by Bill Smith. What’s not to love … here is one of the views … interesting to note is the cantilevered level yard on the neighboring property … a level lawn 20 feet (?) floating in the air.

Next offering was 19 Tamalpais, a three bedroom home just off of Golden Gate with lesser, but beautiful views offered by Stephanie Rice for $2.1M.

Third home, at 1 Windward Road, just off of San Rafael Avenue (near the walking path in the flats), was a mid-century contemporary with five bedrooms that Howard said was built in 1956 by an architect as his own home. Great shape, fun design, definitely mid-century but with great lagoon views offered at $2,195,000.

Belvedere is lovely but the next home is a knock my socks off, six bedroom view home in Tiburon home just off of Straits View. 604 Ridge is private, gated, elegant and showy … this beauty is being offered at $7,995,000 and I loved it!

Fantastic views from 604 Ridge, Tiburon

In Mill Valley we stopped off at Linda Esposito’s own home at 8 Greenfield Court … a 2600 square foot traditional home nestled up to Horse Hill that she’s offering at $1,399,000. Yummy!

Another home of note on Wednesday’s tour is the just completed (and sold) four bedroom beauty with tall ceilings at 306 Oakdale Avenue (off of Buena Vista). Had a bite of lunch with Jen Pennington at this wonderful, creative home which sold, as mentioned, for $3,500,000 by word of mouth.

Interested in a lovely view home in Belvedere, Tiburon or Mill Valley? Call and let’s go shopping!

Posted in Belvedere, Uncategorized | Tagged bay views, Belvedere, estates, Tiburon | Comments Off

For Marin and Sonoma Real Estate Sellers … A Time of Opportunity

Posted on March 2, 2012 by verkozen

Of the 1006 homes and condos on the real estate market in Marin right now 47% are in escrow. These are a mix of regular sales, short sales and foreclosures. (see article Reducing Stress/Avoiding Foreclosure).

Of the 2271 homes and condos in Sonoma right now 57% are in escrow.

Normally 20 to 25% are in escrow in the early part of the year. Today’s situation reflects heightened demand and reduced supply … and the result is multiple offers on Marin and Sonoma Real Estate:

Last week I presented offers for three clients …

One client was among seven who made an offer on a San Rafael condo (this buyer was preapproved for a loan)
Another client, seeking a mid-ranged home in Novato, was one of eight making an offer. Five of the eight submitted all cash offers (imagine that
The third buyer had to regroup and resubmit even though they were all cash.

More than half of the offers on all three properties were all cash and all but one were over the asking price.

As a point of reference, here are the last sales posted on the San Rafael Frank Howard Allen office sales board:

163 Blackstone, San Rafael 2 offers
7 Crest, Fairfax back up offer moved into primary position
11 Linnet, San Rafael 2 offers
219 Mirada, San Rafael 5 offers
481 Via Herbosa, Novato 2 offers (after 3 price reductions)
15 Jacob Court, Novato 3 offers
105 Rosario, Forest Knolls 3 offers

This week I’m working with two clients all cash buyers.

One, mentioned earlier, just landed a property offered at $2.5M on which there were three all cash offers.
The other buyer, also offering all cash, is interested in a mid-range Novato home that will have multiple offers (this is the same client who lost out last week) or a short sale in San Rafael that will also have multiple offers.

If for any reason you want to sell (in order to buy up, to buy down, stress reduction, divorce, short sale) now is a great time … low inventory, cash buyers, great rates, strong consumer confidence … so call!

Posted in Marin County Real Estate Update, Short Sales in Marin and Sonoma, Sonoma and Marin Market Research | Tagged foreclosure, Marin, real estate, Short Sales, Sonoma | Comments Off

The Sausalito Condo Market Is Strong and Solid

Posted on February 28, 2012 by verkozen

For two years running the average price per square foot for Sausalito condos has been solid and consistent and the number of sales is back to the pre-bubble levels.

During 2007 there were 46 condo sales, none of which were foreclosures or short sales. The average price per square foot was $570. In 2011 there were 45 sales, more than half of them (27) short sales or foreclosures.

2010 and 2011 the price of Sausalito condos, in spite of a spike in short sales and foreclosures (herein called distressed sales), stabilized. In 2010 the average price per square foot for non-distressed condos in Sausalito was $497. In 2011 this figure was $492 (14% below the crazed pre-bubble bursting level of $570).

With money seeking stability and quality, housing demand is up and the Sausalito condo market is flourishing …

Of the 26 condos on the market in Sausalito, more than half (15) are in escrow …

Last week two of my buyers engaged in multiple offers (seven offers on a condo, eight on a starter home).

While prices have not returned to the pre-bubble highs, Sausalito condos have achieved stability and demand has solidified, a result of a flight to quality and fantastic interest rates, so if you own or would like to own a Sausalito condo, call NOW.

Posted in Bargains and Best Buys, Sausalito condos | Tagged condo, foreclosure, Sausalito, short sale | Comments Off

Hot New Corte Madera, Larkspur & Greenbrae Real Estate

Posted on February 23, 2012 by verkozen

Larkspur, Greenbrae and Corte Madera real estate agents go seeking homes for clients on Thursday and this week we had some beauties!

The first home Michele Barton and I went to was a three bedroom beauty on the Larkspur Lagoon. The view:

Offered at $1.1M by my friend Robert Beadle and Angela Curley (only sweets were offered as the ‘food’ to lure agents into staying and soaking in the ample ambiance) #361 Rivera Circle, Larkspur is wonderfully sited and a real opportunity for those with a bit of imagination and access to my vendor list of handi-people. Call and let’s go! Tom 637-7974 or Michele 531-1437.

The second home, 208 Granada Drive, Corte Madera, is also a home with views … hills to the bay … and offered with a more modest price tag … $885,000.

After the eastern Corte Madera side trip we visited 37 Echo Avenue, Corte Madera. This serene, modern three bedroom home with a great floor plan features views of Mt Tam and Ring Mountain from the peaceful back yard pool area. Offered by Suzanne Shelhart (serving a Chinese chicken salad) for $769,000 living in this gracefully laid out home might simplify your life! Want to see? Call.

Next we veered off to see a very private home off of Laurel Grove. Parking was difficult at 14 Villa Court, Kentfield, but this modern, immaculately outfitted home shined … offered by John Ball (croissants with ham and cheese) there are beautiful maple floors, stainless appliances, a detached studio and more, all offered at $1,325,000.

The last home we saw before heading west to San Anselmo was a dramatic contemporary home with two master suites, tucked in the hills just before Wolf Grade. 40 Corte Dorado, Greenbrae is a tall ceilinged home with clean lines offered by Carol Hudson (big smile, no food, worth the visit). The expansive views add to the serenity of this dramatic four bedroom home offered at $1,249,000.

We’re finally seeing some brave new sellers coming forward with wonderful homes in Larkspur, Greenbrae and Corte Madera. Stay tuned as the market turns!

Posted in Bargains and Best Buys, Corte Madera real estate, Greenbrae real estate, larkspur real estate | Tagged Greenbrae, larkspur lagoon, larkspur real estate, peter pickrel | Comments Off

National Mortgage Settlement and Marin Real Estate

Posted on February 13, 2012 by verkozen

For real estate owners in Marin and Sonoma, the National Mortgage Settlement means … very little …

With an average loan of (this is a wild guess) $350,000, a $2000 principal reduction won’t help much. And the timing is suspect as well.

A San Rafael homeowner and reader who has been ill and out of work for much of the past year emailed that he’s back on his feet. His home is under water and he was wondering about the Settlement. The answer comes in four parts.

Part I

You have the wrong lender. There are only five banks participating and Union Bank is not one of them. I called the bank and they said they simply suggested that he sell the home in a short sale.

Let’s Do The Math …

Part II

The good news: The banks had hoped to fashion this settlement as a ‘now you can’t sue us’ and failed.

Part III

Before you get excited by this ‘historic settlement’ you need to ask why you should care …

If the meltdown took you down, he damage to your financial and emotional life has been done.
Even though there are Billions of Dollars involved, an evaluation of the National Mortgage Settlement in the February 12, 2012 NY Times determined that the average settlement would be around $2000.

Part IV

Consider this: the complexity of the mortgage market and the Settlement agreement is such that even if you are eligible for relief by living in the Golden state, the relief you may be eligible for will come sometime in the next three years.

The settlement provides minor assistance for:

For the millions and millions of homeowners needing modification of first and second liens through principal reductions. The servicers have agreed to write off up to $17 billion in principal reduction and provide other forms of loan modification.
Again…… Do the math … using round numbers: if four million people need principal reductions and there was $16 billion available, that would leave $4,000 each … before the costs of administration. Helpful? Not.
It is intended that the five big banks show other lenders that principal reduction is an effective tool in combating foreclosure, that it will not lead to widespread defaults by borrowers who can afford to pay, and that it is good business practice.
Borrowers who are underwater and with sufficient income will be able to refinance at today’s historically low interest rates. Servicers will have to provide up to $3 billion in refinancing relief nationwide.

750,000 of the homeowners who lost their homes, with no requirement to prove financial harm and without having to release private claims against the servicers or the right to participate in the OCC review process, will be get a share of the $1.5 billion that will be distributed nationwide … the math? $2000.

The National Mortgage Settlement is close to meaningless in the Marin and Sonoma real estate arena.

Posted in Marin County Real Estate Update, San Rafael, Short Sales in Marin and Sonoma | Tagged Marin, national mortgage settlement, San Rafael, San Rafael homes, short sale, Sonoma | Comments Off

Downsizing Your Home – If not now, when?

Marin Real Estate – 425 Belvedere Ave, Belvedere, …. Short Sales, Sneak Previews and more

San Anselmo foreclosures and short sales — update

Belvedere Estates with Bay Views … now on the Market

For Marin and Sonoma Real Estate Sellers … A Time of Opportunity

The Sausalito Condo Market Is Strong and Solid

Hot New Corte Madera, Larkspur & Greenbrae Real Estate

National Mortgage Settlement and Marin Real Estate

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