Help me walk on the moon

I need your help! I can't believe I am attempting doing this.

13 years ago I was diagnosed with Breast Cancer. I remember being told and making a little pact with myself that I would make a difference, if not for me, for my daughters. I imagined myself being a champion for the cause, spearheading the fight for a cure.

You have seen, I am sure, the ads for this wonderful day. 3 days - 60 miles. The funds raised going to the Susan G Komen search for a cure. The idea of that kind of a walk, was as foreign to me as walking on the moon. But you know... I am lucky, I have survived and others have not. I want to give this a shot.

HELP me make a difference while you make a difference to. GIVE as much as you can and know... it matters. And I...I would appreciate it.

Tax Simulus Plan and First Time Buyers....

Dear Readers,

If you are like I am, you are looking at the recent tax simulus plan and asking??? Hhhh? "Ok now what does this mean for me?!"

Despite the bigger question of improving the housing market in the country as a whole, the chances are this plan will not impact many Marin Buyers. Many are NOT first time owners. Many have incomes above the limits for inclusion in this plan. But there are those that this plan will assist in a very real way. In particular the below examines how the plan assists First Time Buyers by allowing an tax credit of up to $8000. Read below to find out more. The information was complied Alain Pinel Realtors.

If you feel the Congress should do MORE to assist in this challenging time in areas like the San Francisco Bay Area, you may want to send your thoughts to your elected officals.

In the meantime reflect on our good fortune to live in such a desirable and beautiful place. Who wouldn't want to live here?!

Frequently Asked Questions

In 2008, Congress enacted a $7500 tax credit designed to be an incentive for first-time homebuyers to purchase a home. The credit was designed as a mechanism to decrease the over-supply of homes for sale.

For 2009, Congress has increased the credit to $8000 and made several additional improvements. This revised $8000 tax credit applies to purchases on or after January 1, 2009 and before December 1, 2009. This piece is designed as an overview of the new tax credit. Prior to making any decisions regarding this new law, please contact your tax consultant.

Tax Credits -- The Basics

What’s this new homebuyer tax incentive for 2009?
The 2008 $7500, repayable credit is increased to $8000 and the repayment feature is eliminated for 2009 purchasers. Any home that is purchased for $80,000 or more qualifies for the full $8000 amount. If the house costs less than $80,000, the credit will be 10% of the cost. Thus, if an individual purchased a home for $75,000, the credit would be $7500. It is available for the purchase of a principal residence on or after January 1, 2009 and before December 1, 2009.

Who is eligible?
Only first-time homebuyers are eligible. A person is considered a first-time buyer if he/she has not had any ownership interest in a home in the three years previous to the day of the 2009 purchase.

How does a tax credit work?
Every dollar of a tax credit reduces income taxes by a dollar. Credits are claimed on an individual’s income tax return. Thus, a qualified purchaser would figure out all the income items and exemptions and make all the calculations required to figure out his/her total tax due. Then, once the total tax owed has been computed, tax credits are applied to reduce the total tax bill. So, if before taking any credits on a tax return a person has total tax liability of $9500, an $8000 credit would wipe out all but $1500 of the tax due. ($9,500 - $8000 = $1500)

So what happens if the purchaser is eligible for an $8000 credit but their entire income tax liability for the year is only $6000?
This tax credit is what’s called "refundable" credit. Thus, if the eligible purchaser’s total tax liability was $6000, the IRS would send the purchaser a check for $2000. The refundable amount is the difference between $8000 credit amount and the amount of tax liability. ($8000 - $6000 = $2000) Most taxpayers determine their tax liability by referring to tables that the IRS prepares each year.

How does withholding affect my tax credit and my refund?
A few examples are provided at the end of this document. There are several steps in this calculation, but most income tax software programs are equipped to make that determination.

Is there an income restriction?
Yes. The income restriction is based on the tax filing status the purchaser claims when filing his/her income tax return. Individuals filing Form 1040 as Single (or Head of Household) are eligible for the credit if their income is no more than $75,000. Married couples who file a Joint return may have income of no more than $150,000.

How is my "income" determined?
For most individuals, income is defined and calculated in the same manner as their Adjusted Gross Income (AGI) on their 1040 income tax return. AGI includes items like wages, salaries, interest and dividends, pension and retirement earnings, rental income and a host of other elements. AGI is the final number that appears on the bottom line of the front page of an IRS Form 1040.

What if I worked abroad for part of the year?
Some individuals have earned income and/or receive housing allowances while working outside the US. Their income will be adjusted to reflect those items to measure Modified Adjusted Gross Income (MAGI). Their eligibility for the credit will be based on their MAGI.

Do individuals with incomes higher than the $75,000 or $150,000 limits lose all the benefit of the credit?
Not always. The credit phases-out between $75,000 - $95,000 for singles and $150,000 - $170,000 for married filing joint. The closer a buyer comes to the maximum phase-out amount, the smaller the credit will be. The law provides a formula to gradually withdraw the credit. Thus, the credit will disappear after an individual’s income reaches $95,000 (single return) or $170,000 (joint return).
For example, if a married couple had income of $165,000, their credit would be reduced by 75% as shown:
Couple’s income $165,000 Income limit 150,000 Excess income $15,000
The excess income amount ($15,000 in this example) is used to form a fraction. The numerator of the fraction is the excess income amount ($15,000). The denominator is $20,000 (specified by the statute).
In this example, the disallowed portion of the credit is 75% of $8000, or $6000
($15,000/$20,000 = 75% x $8000 = $6000)
Stated another way, only 25% of the credit amount would be allowed.
In this example, the allowable credit would be $2000 (25% x $8000 = $2000)
What’s the definition of "principal residence?"
Generally, a principal residence is the home where an individual spends most of his/her time (generally defined as more than 50%). It is also defined as "owner-occupied" housing. The term includes single-family detached housing, condos or co-ops, townhouses or any similar type of new or existing dwelling. Even some houseboats or manufactured homes count as principal residences.

Are there restrictions on the location of the property?
Yes. The home must be located in the United States. Property located outside the US is not eligible for the credit.

Are there restrictions related to the financing for the mortgage on the property?
In 2009, most financing arrangements are acceptable and will not affect eligibility for the credit. Congress eliminated the financing restriction that applied in 2008. (In 2008, purchasers were ineligible for the $7500 credit if the financing was obtained by means of mortgage revenue bonds.) Now, mortgage-revenue bond financing will not disqualify an otherwise-eligible purchaser. (Mortgage revenue bonds are tax-exempt bonds issued by a state housing agency. Proceeds from the bonds must be used for below market loans to qualified buyers.)

Do I have to repay the 2009 tax credit?
NO. There is no repayment for 2009 tax credits, unless the property is sold prior to 3 years of ownership.

Do 2008 purchasers still have to repay their tax credit?
YES. The $7500 credit in 2008 was more like an interest-free loan. All eligible purchasers who claimed the 2008 credit will still be required to repay it over 15 years, starting with their 2010 tax return.

Some Practical Questions
How do I apply for the credit?
There is no pre-purchase authorization, application or similar approval process. All eligible purchasers simply claim the credit on their IRS Form 1040 tax return. The credit will be reflected on a new Form 5405 that will be attached to the 1040. Form 5405 can be found at http://www.irs.gov/.

So I can’t use the credit amount as part of my down-payment?
No. Congress tried hard to devise a mechanism that would make the funds available for closing costs, but found that pre-funding would require cumbersome processes that would, in effect, bring the IRS into the purchase and settlement phase of the transaction.

So there’s no way to get any cash flow benefits before I file my tax return?
Yes, there is. Any first-time homebuyers who believe they are eligible for all or part of the credit can modify their income tax withholding (through their employers) or adjust their quarterly estimated tax payments. Individuals subject to income tax withholding would get an IRS Form W-4 from their employer, follow the instructions on the schedules provided and give the completed Form W-4 back to the employer. In many cases their withholding would decrease and their take-home pay would increase. Those who make estimated tax payments would make similar adjustments

Some "Real World" Examples

What if I purchase later this year but can’t close escrow before December 1?
The credit is available for purchases before December 1, 2009. A home is considered as "purchased" when all events have occurred that transfer the title from the seller to the new purchaser. Thus, closings must occur before December 1, 2009 for purchases to be eligible for the credit.

I haven’t even filed my 2008 tax return yet. If I buy in 2009, do I have to wait until next year to get the benefit of the credit?
You’ll have a helpful choice that might speed up the process. Eligible homebuyers who make their purchase between January 1, 2009 and December 1, 2009 can treat the purchase as if it had occurred on December 31, 2008. Thus, they can claim the credit on their 2008 tax return that is due on April 15, 2009. They actually have three filing options.

If they purchase between January 1, 2009 and April 15, 2009, they can claim the $8000 credit on the 2008 return due on April 15?
They can extend their 2008 income-tax filing until as late as October 15, 2009. (The IRS grants automatic extensions, but the taxpayer must file for the extension. See www.irs.gov for instructions on how to obtain an extension.)

If they have filed their 2008 return before they purchase the home, they may file an amended 2008 tax return on Form 1040X. (Form 1040X is available at www.irs.gov)
Of course, 2009 purchasers will always have the option of claiming the credit for the 2009 purchase on their 2009 return. Their 2009 tax return is due on April 15, 2010.

I purchased my home in early 2009 before the stimulus bill was enacted. I claimed a $7500 tax credit on my 2008 return as prior law had permitted. Am I restricted to just a $7500 credit?
No, you would qualify for the $8000 credit. Eligible purchasers who have already claimed the $7500 credit on a 2008 return for a 2009 purchase may file an amended return (IRS Form 1040X) for the 2008 tax year. This amended return will enable them to obtain the additional $500 credit amount.

If I claim my 2009 $8000 credit on my 2008 tax return, will I have to repay the credit just as the 2008 credits are repaid?
No. Congress anticipated this confusion and has made specific provision so that there would be no repayment of 2009 credits that are claimed on 2008 returns.

I made an eligible purchase of a principal residence in May 2008 and claimed the $7500 credit on my 2008 tax return. My brother, who has never owned a home, wishes to purchase a partial interest in the home this spring and move in. Will he qualify for the $8000 credit, as well?
No. Any purchase of a principal residence (or interest in a principal residence) from a related party such as a sibling, parent, grandparent, aunt or uncle is ineligible for the tax credit. Since you and your brother are related in this way, he cannot qualify for the credit on any portion of the home that he purchases from you, even if he is a first-time homebuyer.

I know there is no repayment requirement for the $8000 credit. Will I ever have to repay any of the credit back to the government?
One situation does require a recapture payment back to the government. If you claim the credit but then sell the property within 3 years of the date of purchase, you are required to pay back the full amount of any credit, including any refund you received from it. A few exceptions apply. (See below, #24). Note that this same 3-year recapture rule applies, as well, to the $7500 credit available for 2008. This provision is designed as an anti-flipping rule.

What if I die or get divorced or my property is ruined in a natural disaster within the 3 years?
The repayment rules are eased for many circumstances. If the homeowner who used the credit dies within the first three years of ownership, there is no recapture. Special rules make adjustments for people who sell homes as part of a divorce settlement, as well. Similarly, adjustments are made in the case of a home that is part of an involuntary conversion (property is destroyed in a natural disaster or subject to condemnation by eminent domain by an authorized agency) within the first three years.

I have a home under construction. Am I eligible for the credit?
Yes, so long as you actually occupy the home before December 1, 2009.

WITHHOLDING EXAMPLES:
Note: The impact of estimated tax payments would be the same.

Situation 1: Sally plans her withholding so that her withholding is as close as possible to what she anticipates as her income tax liability for the year. When she fills out her 1040, her liability is $6000. She has had $6000 withheld from her paycheck. She also qualifies for the $8000 homebuyer credit.
Result: Sally’s withholding satisfies her tax liability and reduces it to zero. She will receive a refund of the full $8000.

Situation 2: Nick and Nora file a joint return. Nick is self-employed and makes estimated payments; Nora has taxes withheld from her salary. When they compute their taxes, their combined withholding and estimated tax payments are $11,000. Their income tax liability is $9800. They also qualified as first-time homebuyers and are eligible for the $8000 refundable tax credit.
Result: Ordinarily, their combined estimated tax payments and withholding would make them eligible for a refund of $1200 ($11,000 - $9800 = $1200). Because they are eligible for the refundable tax credit as well, they will receive a refund of $9200 ($1200 income tax refund + $8000 refundable tax credit = $9200)

Situation 3: Cesar and LuzMaria both have income taxes withheld from their salaries and file a joint return. When they file their income tax return, their combined withholding is $5000. However, their total tax liability is $7200, generating an additional income tax liability of $2200 ($7200 - $5000). They also qualify for the $8000 first-time homebuyer tax credit.
Result: Cesar and LuzMaria have been under-withheld by $2200. Ordinarily, they would be required to pay the additional $2200 they owe (plus any applicable interest and penalties). Because they are eligible for the refundable homebuyer tax credit, the credit will cover the $2200 additional liability. In addition, they will receive an income tax refund of $5800 ($8000 - $2200 = $5800). If they owed penalties and/or interest, that amount would reduce the refund.

Mi casa - su casa? Equity Sharing

Loans have become more difficult for many people to receive. The rates are GREAT but the new guidelines mean that you may not qualify to buy the house of your dreams on your own. What about equity sharing?

Imagine this scenario, your child has gone off to college and you want to downsize to manage your costs. You have a friend who also wants to downsize. How can you manage to refinance and perhaps have someone take on part of the commitment.

A client of mine posed this question... have any ideas? I encourage you to share stories, of success and failure when to come to equity sharing.

Think I was alone????

Here are just a few of the open house signs left at PU for recycling.

New adventures!

I am very excited to report I have joined Alain Pinel Realtors !

For the last several years I have been hoping that they would come to Marin, and this week as a series of fortunate events, my manager was hired to build Alain Pinel here. Currently I and about 50 other agents have decided to turn a page.

My daughters used to love choose your own adventure books. Turn a page and you are on a deep sea adventure , turn another you are on safari. Your ending depends on the page you turn to. This is a new adventure and I am thrilled to be on board.

I encourage you to follow this adventure because it is sure to have happy ending with you along!

Friends, Family, Health and Home

Here it is... 2009!

This year more than any other I think it important to keep our focus on what is truly important. I have been a news "junkie" for many years and increasingly the news seems strained and anguished. Wars, a shaky economy, the seedier side of life displayed in living color. This could get you down... no doubt about it.

I met a colleague in the hall just now and she commented on a challenging year ahead. My response is we are some very lucky people and each day should begin with that affirmation.

My reflections for January.

Friends. I have an incredible collection of friends and associates. They are warm and generous and funny and smart. Having them in my life encourages me to be all those things in return. I am very very lucky.

Family. My family is my foundation. From my sisters and brother, father and in-laws, to my most incredible husband I am surrounded with love. We move through the phases of our lives accepting the awkwardness of transitions, revelling in the welcome of new little ones, mourning together our mutual loss when one passes from us. Like all families we have our disagreements, but we are strengthened by the knowledge that family lasts. It is the constant. It forms us as we help form it. I am blessed with everyone one of them.

Health. This is a precious gift. The New Year is a time that people focus on how they can keep that gift. Gyms, diet, stress relief and the other multiple resolutions made on December 31 are as habitual as breaking those resolutions. When you have a life threatening illness, it give us pause to think what we could have done to avoid the situation. Sometimes, these instances are simply life's reminders that our time here is limited and should not be taken for granted. Each day is a day to celebrate and cherish.

Home. Whether home is an apartment, a mansion or a cottage in the woods, it is all just living arrangements unless you fill it with love. Home is a place where you can be yourself with all your idiosyncrasies. It is place where you can celebrate all the gifts of your life. When you welcome someone to your home you are welcoming them to your life. Home is not a luxury item, it is a necessity. This year, perhaps more than any in the past, honor your home. If you haven't found that special place yet, make 2009 the year when you do. Because there's no place like home.

I wish for you this year a year where you honor, friends, family, heath and home.

Happy New Year.

If you like homey houses, houses that feel like comfort food... take a peak at my friend and client's house featured in the Wall Street Journal. Also featured in Pottery Barn and soon in the SF Chronicle!

http://online.wsj.com/article/SB122670283553229665.html

If you would like to make this dream come true for you, let me know. I can hook you up with all the resources to make this possible!

It's rough out there... show your spirit

The Marin Food Bank has told us that they have an increase in demand of 1/3. Partially due to tough economic times, their donations have been down. Our office at Pacific Union Central Marin has lead a drive for P&J. Several of our agents have let their clients know that the need is great to amazing results! One agent had a client donate $5000 when he heard about the need. Others have had people give whatever they could.

By everyone doing what they can about some of the pressing needs in our community we can make a difference. Please, donate this season to someone in need. There are many organizations who would be so grateful for your help. From the arts, to basic needs donations are down throughout the country. Do what you can.

If you would like to contribute to the Marin Food Bank, send a check to

Marin Community Food Bank75 Digital DriveNovato, CA 94949

or make an online donation...https://payments.auctionpay.com/ver3/?id=w018053

Be proud.

It's almost time to vote...Take a look at this Robin William's classic and remember to be proud of who we are....

Coming from behind......

Real Estate...Olympics...what do they have in common.

I guess there are those people who decide to be a Realtor, and decide that all they need to do is show up. They do their job and turn in their time go home and hope it will pay off. They figure they are at the mercy of the times, they have no impact on the times. They put a sign in the yard and read the papers. When the news is bad, they believe what they read. They resign themselves to their circumstances.

There are Realtors who boast. They brag about their accomplishments. They antagonize their rivals. They stretch the truth of their ability to their clients. When the news is bad they tell their clients the news is wrong.

They show up and honor the listing in doing so.

They want the client to feel lucky to have been chosen.

There are Realtors who don't believe in giving up. They don't need to brag because it wastes time and takes the emphasis off the important thing, which is the house. They put in 200% of their effort and use creativity to promote the listing, not their own image. The news is bad, they acknowledge the news and determine to be more creative, and more tenacious. They are honored when someone selects them to market their home. They take this honor seriously.

They never give up. Never stop believing...

I was struck by yesterdays Men's 400 meter freestyle relay. I understand what its like to hear the self serving boasts of competitors. I also understand now easy it would be to slip into a fatalistic view of our business. But above all, I understand that intangible drive that comes from deep down inside that lifts you to the next level of effort, especially when other people are counting

on your performance for their success.

Thanks men's team for reminding me again... never give up.

Lift up! Strive up! Reach the goal! Bravo!!



http://www.nbcolympics.com/video/share.html?videoid=0811_HD_SWB_HL_L0194

You Tube

I am hoping there are people out there that have an opinion about this.

"You Tube" is a tool that I have considered using for my listings, in addition to the webpages, slide shows and everything else...( a long list) I use to market my properties.

My husband bought me a very cool, easy to use, point and shoot, plug in pocket video recorder. The problem is I think the photos are not up to par. I could try and be super creative.. and campy... I could try another technique... I could buy another camera with better quality or.... I could forget the whole thing. Do you have an opinion?

This keeping up with the latest is making me... DIZZY!

But that's not fair!

Buyers and sellers see this process of home negotiations in different ways. There is a lot of different approaches and I can't speak to what I believe is best for everyone. For example I have heard in the east coast it is standard for a seller to price 15% over asking and the expect to negotiate down. I know I have had clients who have bought homes in a sellers market and remember they needed to pay well over asking in order to even be in the game. All of these situations exists still and will in the days ahead. Even in the midst of the "boom" I know what felt right to me and what didn't. I'll tell you what I do not believe. I do not believe, in offering a price for a house that is high enough to be accepted, with the intent on paying 10% less in the end.I believe that Real Estate should not be treated like a game. Games shouldn't be personal and Real Estate is almost always personal. I do not believe in offering a house for less than it is worth and only be willing to accept 10% over the asking price as an offer. If you believe that the above scenarios are just fine you are not alone. But somehow, I prefer the good old honest... This is what I will take for my house..... this is what I'll pay for your house.... way of doing Real Estate. Now if we could just be sure everyone would play by our rules this all would be less stressful...but, you know how it goes, you need to be prepared for everything and everyone.

FEB 2007 VS. FEB 2008

I just looked at some every interesting statistics comparing sale bewteen February 2007 and February 2008. The upshot is homes are staying on the market longer but are still holding their prices fairly well. Take a look for yourself:

MARIN COUNTY SALE COMPARISON

SOLD PROPERTIES - FEB. 2007 VERSUS 2008

FEBURARY 2007

TOTAL PROPERTIES SOLD: 185

AVERAGE: List Price: $1,154,785 SalesPrice: $1,119,652 Days on Market: 84

MEDIAN: List Price: $ 869,000 Sales Price: $ 850,000 Days on Market: 57

HIGH: List Price: $9,980,000 Sales Price: $9,000,000 Days on Market: 471

LOW: List Price: $ 200,000 Sales Price: $ 180,000 Days on Market: 0

ADJ. AVG: List Price: $1,111,777 Sales Price: $1,081,725 Days on Market: 102

FEBRUARY 2008

Total properties sold: 121

AVERAGE: List Price: $1,231,724 Sales Price: $1,169,327 Days on Market: 100

MEDIAN: List Price: $ 810,000 Sales Price: $ 824,000 Days on Market: 91

HIGH: List Price: $10,000,000 Sales Price: $8,500,000 Days on Market: 401

LOW: List Price: $ 175,000 Sales Price: $ 138,000 Days on Market: 0

ADJ. AVG: List Price: $1,166,921 Sales Price: $1,116,391 Days on Market: 102

SEE WHAT I MEAN?!

Off topic...but on point

Today I went to the memorial service of a truly great lady. I say lady and she was, even though that title is usually reserved for much older people, which she wasn't. She was far too young to have left us. Susan was a client, but she was also someone I considered more than that. I came to love her and her family and I am deeply saddened.

Real Estate is ultimately about people's lives and the communities in which they live. Susan enriched her community, and was starting a career that surely would have enriched us all. She was on track at UCSF to become a nurse. In her name there has been a fund established to provide scholarship money to a deserving nursing student at UCSF. It is a highly worthwhile cause, in the name of someone who touched many lives. If you can send a donation to;

The Susan L. Shulman Foundation

c/o The Horton Family
14 Lower Drive
Mill Valley, CA 94941

I wrote something because I kept seeing this vision of Susan, after I heard about her passing. Some people are so vibrant that when they leave they leave traces of color and light in your mind you can't stop seeing. Anyway...

Today I pictured Susan, standing in a field of shimmering sunflowers. The sky was as blue as her eyes. Her cheeks were flushed from having finished a long run. There was a twinkle in her eye and a smile that floated across her face. She spoke softly in a whisper and said not to cry. "The day is long, the sun is warm and there are adventures to be had."

I watched as she twirled in a circle and threw back her head to laugh. She strode away with a flower in her hand, and seemed to disappear in a swirl of blue and gold.

What happens in Vegas, gets talked about!

She's back!
As some of you know I just got back from a convention in Vegas. The GMAC company (Pacific Union's parent company) put on this annual event entitled "Experience 2008". Well, since I hadn't been in Vegas since 1977, the trip definately was an experience. Back then I gambled all night on $25 (now the cost of a margarita!) Back then the show I went to see was Steve and Eydie, This time it was "Le Reve " Quite a difference!




But enough about the distractions, let me tell you about what I learned. I learned that Pacific Union is the horse, and the rest of the country is the cart. Alot of the technology that was discussed is OLD technology to us, but to the rest of the country it is emerging. I learned that some of the OLD ideas are very important to remember. I listened to two truly wonderful speakers. One emphasized relationships with your clients (I believe in that). The other reminded me that we choose our limitations. We choose to be victims or victors.

Charlie Plumb, was a fighter pilot in Vietnam. He was shot down over North Vietnam 5 days before his tour of duty was complete. He spent the next 6 years in a cell - the cell was 8x5. Charlie reminded us that we can create our own limitations (limitations of the mind). How do you react to your circumstances, are you the victim or the victor? Read more about Charlie at http://www.charlieplumb.com/







Jeffrey Gitomer wrote the best selling book, "The Little Red Book of Selling" His presentation spoke of relations that you build and the importance, especially now to build that on common ground. Humor is not to be discounted as a tool for life. And as I was so happy to hear reinterated, "Everything being equal, people want to do business with their friends. Everything being unequal, people still want to do business with their friends." And... the goal should be not statisfied customers, but loyal ones. Satisfaction can lead to loyalty, but for this business, its loyaty you are aiming for. (Here he made reference to a statisfied or loyal spouse, and which you would prefer to have.)

Our office took home the prize as the #4 office in Gross Commission revenue in the GMAC network. I as an individual was 62th on the list. I am proud to be part of such a successful team!

Now it's back to work. Our CEO John Bearden reminded us this is a year of challenges, but it is also a year of opportunity. I wholeheartedly agree. I believe for home buyers this is an EXCELLENT time to buy. I also believe there is no where better to buy than the Bay Area and in particular Marin. For sellers, realistic expectations will lead to unqualified success. Here's to a great year ahead. I am energized and ready for the future. (okay I did lose a little $ in the casinos, so a sold house or two would be very much appreciated!)

Gifts, given and received

I am in a helping profession. Maybe some people think Real Estate agents' goals are to protect their own interests, but I disagree. The vast majority of people who came to this business joined it because they wanted to help other people reach their goals. There are a lot of pleasers (read: incredibly giving people) in Real Estate. Honestly, all you have to do is look at how these people respond when they see a true need. There have been many times when I have seen the community step up to the plate to help a colleague in need. If you did a survey of Realtors to see how many support very vital causes, both financially and personally, I am certain most people would be amazed. This is truly one under-rated profession.

This profession saw a boom in the numbers of new agents in the past 7 years. It seems everyone wanted to be a Realtor. Many people who joined in search of quick cash will find out soon, this business is misunderstood. In my opinion we will begin to see the number of Realtor dwindle as reality sets in. A true professional puts their clients interests above their own, and as the market tightens that will be difficult for some people to do. Those who hang in there will seek solutions to the problems the market presents, they will assist any way they can. And as they do this, they can overcome obstacles for their client, they can help them achieve their Real Estate goals. It is through this truly special kind of relationship that I have come to love this job. It is because of these relationships that I have found some lasting friendships.

Often we over look the help that is right in front of us. I certainly could name one or two people in my personal life who find it hard to accept help. But what we discover is when we do accept the help thats offered, you are in fact giving the other person your own gift. When a gift is accepted and appreciated, fulfillment follows.

We're not in Kansas

CLICK ON THE MAGIC SLIPPERS

FOR THE LATEST MARIN STATISTICS!

Well here they are! The latest Marin statistics. If you take a moment and click on the magic slippers, you will be able to see for yourself how Marin REALLY is doing. Too often the news in the papers leaves one feeling as if we are in a whirling house in the middle of a tornado. Just like Dorothy we are flying through the air without any control. When you finally are on the ground, you feel as if you aren't in Kansas anymore.

Not in Kansas, well, I should say not. Marin is its own place. Although we have seen a slowing in the past month, we are still holding our own. Fewer homes sell, but when they do, they are selling at fair prices. With mortgages at historic low rates, Buyers are in a unique position to get the home of their dreams, perhaps at the price the home would have sold for in the beginning of last year, in some cases lower. If you have seen in Marin as long as I have then you know, that opportunity will not last forever. Prices will rise. They always do.

Are you one of those people who wish that had bought a bigger home, a newer home or even just any home years ago. You know then that they only person who has regrets in regards to Real Estate in Marin would be the one who never bought any. (Ok, there are some people who had risky mortgages, and bought at the height of the market, perhaps overbidding on a property - but those are the minority here in Marin)

If you have been putting off buying a home. Don't make the mistake of waiting too long. Once this opportune time passes don't live in the land of "should have,. would have, could have."

Buy the house this year and then say, just like Dorothy and so many Marinites have said,

"There's no place like home."

Very Interesting.....

I was pulling together some statistics for a meeting I will be having on Thursday and I did a short evaluation of prices since 2000 in one neighborhood. Marinview is a wonderful enclave of homes ajacent to the National Recreation Area. Built in the early 70's, the homes are growing increasingly unique as improvements are made to many. The close commute and proximity to nature is truly a wonderful blessing. I currently have listed a 1625 sq ft townhome priced at $846,000. Back in 2000 this home would have been priced in the mid $500,000s.

Since 2000 the prices have gone up 65% for a detached single family home and 60% for an attached home. Do the math! Not only is Real Estate a wonderful investment, beating most stocks by yards and yards, but the added benefit is you get to enjoy your investment!

What about the market downturn I heard about on TV. Well, yes there is some evidence of longer times on market in this desirable neighborhood. Homes will now sell at a reasonable price and in a reasonable amount of time. It was getting to be that a listing would sell in 2 weeks time. Now our time on market is more like the average of the past 40 years. The average time on market over this time period is 4.5 months.

This is time for sellers to realistic about price and timing. Sellers need to find the person who will use every tool available to keep the house in people's minds. They need to make the home as available as possible. Patience is something severely lacking in the recent Real Estate boom. Now its time to head back to earth, and be thankful for the incredible gains realized. For those people who bought when the market was hot, and now worry their investment is at risk, take a look at the long picture. There is no better place to own Real Estate than Marin.

October in Real Estate

The following is a recap from Avram Goldman of Pacific Union. Avram takes a look each month at the entire Bay Area. What you will note is the higher priced counteis are fairing better than other counties. This is because the recent tighting of mortgage money has not hit the higher end Buyer like it has the more moderately priced homes. You will find this trend even in Marin, where Novato's sales and prices are off while the prices in other parts of Marin have risen.

"Here is how each county fared for the month of October. The numbers are based on sales of single family homes and condos. As I stated above sales prices for the majority of counties did well. I will give both the median and average sales price percentages. The first number will be median and the second average. San Mateo county lead with +14%/+18.7%, Marin +8.4%/+15%,
Santa Clara +7%/+11% and San Francisco +5.4%/+11%. All these counties have the highest prices in the Bay Area. This shows the strength of the upper end markets. There is a great deal of wealth in the Bay Area due to the tech industry, venture capital and export/import businesses. Alameda county (+8%/+4%) although down on median was up on average again reflecting part of
the influence from the expense markets in No. Alameda county. Three counties were down Napa slightly at -2%/-.5%, Sonoma -8.6%/-10.6%, Contra Costa -10.6%/-2% and the hardest hit county Solano at -18.5%/-23%.

Number of closed sales was off significantly year over year for October; however seven of the nine counties were up month over month. The first number given is year over year for October and the second number is month over month Sept. to October. The leader in being least off from last year is San Francisco -11%/+21.5% followed by San Mateo -33%/-1%, Marin -34%/+21%, San Mateo -38%/+9%, Sonoma -40%/+2%, Napa -44%/+31%, Alameda -46%/+8%, Contra
Costa -48%/-3% and Solano -56%/-13.5%.

Months supply of inventory (MSI) gives us a picture of the type of market each of our counties are in---seller’s, balanced or buyer’s market. Three months and under is a seller’s market, 4-6 months a balanced market, 6-10 months a buyer’s market and over 10 months a strong buyer’s market. MSI is higher in every county this year compared to last year. I will note that San Francisco and Marin counties were only slightly higher than last year’s supplies. All counties were down in MSI Sept. compared to October which is a positive sign. The only county still considered in a seller’s market is San Francisco at with a 3 MSI. Only San Mateo county at 5.2 MSI is in a balanced market. Santa Clara 7.5 and Alameda 8.7 MSI are in a buyer’s market. Sonoma 10.2, Napa 13.4 and Solano 15.1 MSI find themselves in a strong buyer’s market. As a reminder these are county-wide figures. Within each of these markets there can be diversity. Meaning that in a seller’s market county you may have specific markets that have higher inventories and conversely within a buyer’s market you may find specific markets that have smaller inventories. "

Where does all the money go????

Boomers, here's something I bet you already know.

At least those of you with grown children!

A study by 'Ameriprise Financial,
Money Across Generations '

(http://www.ameriprise.com/amp/global/docs/pr-money-generations-research.pdf)

shows that many Boomers are caught between financially
helping elderly parents and adult children. Thus,
the term “the sandwich generation.” Sometimes they open their wallets too easily and don’t realize that such generosity affects their ability to fund their own retirement.

Only 9% of Boomers believe assisting their parents has
hurt their retirement savings, but 29% believe assisting their adult children has slowed their savings progress.

To assist adult children, four in ten boomers draw from “regular savings,” one in six even takes out loans, and six percent pull money from retirement savings.