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Sandi Bowman

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Marin Median Home Prices Increase

by Sandi Bowman

Marin's median price of a home, SFR (single family residence) is $1.2MM and is up 14% from  April 2016.  Sonoma County is up 10% from 2016, median price is $585,000. San Francisco's median price home is $1.35MM and San Mateo County is now $1.4MM!  Home sales are about the same as 2016.  Low inventory is causing prices to increase.

Want to know what your home is worth?  Call me.

In the recent years Marin has experienced a steady increase in median home prices, consistent with the rest of the Bay Area housing market. The Marin Independent Journal reports the "median price of a Marin resale single-family home rose above the million-dollar mark in 2016, increasing 5% from the previous year." However, as prices go up sales are showing a trend of decreasing. "Resale home sales saw a 9% drop... and condo sales dropped 10%," according to the same report. At the same time, Marin is experiencing a time of high demand for housing with a low supply due. Homeowners who are looking got sell also have to consider where they will relocate themselves. To learn more about the current trends in the Marin housing market, visit www.marnij.com! If you are interested in buying or selling a home, please reach out to me!

What is Cohousing?

by Sandi Bowman

CohousingCohousing is an intentional movement of private homes clustered around shared space that the community shares. Each attached or single family home has traditional amenities, including a private kitchen. Shared spaces typically feature a common house, much like a club house, which may include a large kitchen and dining area, laundry, and recreational spaces that the community shares. Shared outdoor space may include parking, walkways, open space, and gardens. Neighbors also share resources like tools and lawn mowers for property upkeep.

Each household has their independent income and private life, but neighbors collaboratively plan and manage community activities, holidays, and shared spaces.

The legal structure is typically that of an an HOA, Condo Association, or Housing Cooperative. Community activities feature regularly-scheduled shared meals, meetings, and workdays where the communuty comes together to better their surroundings. Neighbors gather for parties, games, movies, or other events. Cohousing makes it easy to form clubs, organize child and elder care, and carpool.

Common Characteristics

Relationships

  • Neighbors commit to being part of a community for everyone’s mutual benefit.
  • Cohousing cultivates a culture of sharing and caring for each person involved.  
  • Design features and neighborhood size (typically 20-40 homes) promote frequent interaction and close relationships with neighbors.

Privacy and Community

  • Cohousing neighborhoods are designed for privacy as well as community.
  • Residents balance privacy and community by choosing their own level of engagement.

 

Participation

  • Decision making is participatory and often based on a consensus of the whole .
  • Self-management empowers residents, builds community, and saves money.

Shared Values

  • Cohousing communities support residents in actualizing shared values.
  • Cohousing communities typically adopt green approaches to living, in order to save money, and the environment.

Should I Buy a Home Now?

by Sandi Bowman

I'm often asked if this is a good time to buy a home. Some clients are concerned that home prices may fall down the road, while others are convinced that home prices will go up.

Home prices are one factor in determining your cost of ownership, but so are interest rates and financing availability. Even though interest rates have fluctuated, they are still near historic lows. Since your monthly mortgage payment is a combination of paying down your principal and paying the interest owed, a one point rise in interest rates could cost tens of thousands of dollars over the life of your mortgage!

While a home is a major investment, it is also the center of your personal life. It's important to live in a home that reflects your taste and values, yet is within your financial "comfort zone." To that end, it may be more important to lock in today's relatively low interest rates while they are still available.

Please give me a call if I can be of any assistance in determining how much home you can afford in today's market.

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Photo of Sandi Bowman, CalBRE# 01772091  Real Estate
Sandi Bowman, CalBRE# 01772091
Athas and Associates
SRES (Senior Real Estate Specialist)
Novato CA 94949
(415) 215-4848
(415) 382-1949
Fax: (415) 869-2899


1202 Grant Avenue
Suite A2
‚ÄčNovato, CA, 94945