Not sure if now is the time to buy? Continue reading to find out why it is!

Interest rates continue to trend at historical lows, increasing the affordability index of today's real estate market. These historic lows have offset the perceived impact of Fannie and Freddie dropping their limits in Marin County to $625,500. We used to deal with a gap in jumbo and conforming mortgage rates of at least .5%.  Whereas today, with the 30 year fixed interest rate 4.250% the difference can be as little as a .125% which translates to just $72.90 per month.

 

Alternatively, homeowners that are payment sensitive can look to a 5/1 adjustable rate loan or a 30 year fixed with a 10 year interest only period.  The 5/1 arm will have an interest rate around 2.875% and save $770.48 per month in payments.  The 30 year fix with 10 year interest only blends the conservative nature and security of the 30 year fixed with the flexibility to just pay interest during the first portion of the loan.  The savings will amount to $1273.56 in payments per month.

 

Here’s a quick snapshot of what estimated payments on a $1,000,000 loan would be today:

1) 5yr ARM - interest only at 2.875% = $2,395/month

2) 7yr ARM - principal and interest 3.125% = $4,283/month

3) 30yr Fixed - principal and interest 4.375% $4,992/month

 

As always, I am here if you have any questions regarding the current market or for more information regarding mortgage rates, please contact Adam Wise of MSP Loans:

 

Adam Wise
Home Mortgage Consultant
NMLSR ID 653875
Mortgage Services Professionals, LLC | 60 Belvedere Drive | Mill Valley, CA 94941
MAC M1048-031
Phone (415)380-2160| Cell (415)297-9473| Fax (877)869-9947
An Affiliate Of Wells Fargo Home Mortgage
adam.wise@msploan.com
www.msploan.com/adam-wise

Asian buyer trend here in Marin County suggests that Asia Tatler is THE place to be rignt now

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The United States reports 400 billionaires, a great many of whom have inherited their wealth. Not only is China known to have an astounding one million millionaires, but there are currently 271 known billionaires in China, although it is believed on high authority that there are actually closer to 600 billionaires. Each of these individuals except one, an heiress, is self-made. The wealth has been acquired within the last 30 years. The average Chinese billionaire is 51 years old, with a 48 year old wife and a 21 year old child. And with the recent boom, many are beginning to divest out of their companies and it is expected that in 20 years they will hand the companies over to their highly educated - and often educated abroad - children.

 

Culturally, it is found that these billionaires feel a great need to make their "new money" into "old money" in an effort to dispel the perceived crass spending of the nouveau riche to that of the more refined spending of an aristocrat.   How do these spending habits translate? Money is spent and donated to gain political position and philanthropic recognition. Various executive MBA programs are attended in an effort to gain knowledge and respect. More and more is spent on health, food and fitness. The Chinese ultra-wealthy also buy the best in everything; from companies (think Volvo) to art, antiques, wine, and watches - as evidenced in the Christie's auction house results from Hong Kong. In addition, amongst all of this, is the strong desire to own the best in real estate locations and brands.

 

Real estate is the number one contributor leading to wealth with one third of China's billionaires being large owners and/or developers. Energy is the fastest growing industry leading to wealth, followed by technology and retail. One of the more interesting statistics is that 95% of the sum of the Chinese billionaires' wealth is created on domestic consumption as opposed to exports. This wealth is currently insular and not dependent on US policy or anyone else.

 

What does this mean to us? The purchase of Volvo by Chinese billionaire, Li Shufu, is just the beginning. The wealthy are starting to spend outside of China and strong prediction states the real wave of money will come in 2015.

 

To this accord, I have decided to advertise in Asia’s Tatler Magazine, the premier luxury magazine in Asia. Their Christmas issue includes a Property Magazine insert, which is only printed once a year.  Please find below my advertisement, which was featured as the back cover on their Property insert.

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Marin County Holiday Event Calendar

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December 1, 2011 10:00a to 7:00p

Event: 5th Annual Sausalito Gingerbread House Tour, December 1st-31st   

Location:  Downtown Sausalito

Event Description: Come to Sausalito this holiday season to view the beautiful and unique Gingerbread houses on display in 25 different stores, hotels, restaurants and businesses.  Visitors and local residents are encouraged to take the tour to view the Gingerbread Houses. Download a FREE MAP which lists all the locations where the Gingerbread houses are displayed. Take a tour of the houses and vote for your favorite in People’s Choice Ballot.

 

December 2, 2011 6:30 PM - 9:00 PM

Event: Dickens Family Victorian Holiday at Falkirk Mansion

Location: Falkirk Cultural Center, 1408 Mission Avenue, 94901
Event Description: First Friday of December annually Join Charles Dickens and his family for a joyous evening of Victorian revelry at the Falkirk Mansion in San Rafael. Partake in a holiday treat as you go back in time to Victorian England and meet Charles Dickens, listen to him read from his famous works, watch his characters come alive (look out for Scrooge), meet and greet the true Father Christmas, play Victorian parlor games, dance and sing with our Victorian family and make traditional holiday crafts. Light food and drink will be served. A true family event.

More information: http://www.falkirkculturalcenter.org/event.html?eventid=165

 

Friday – Sunday, December 2nd - 4th
Friday, December 2 - 4PM to 9PM
Saturday, December 3 - 10AM to 6PM
Sunday, December 4 - 10AM to 5PM

Event: 40th Annual Holiday Crafts Fair at the Dance Palace

Location:  West Marin

Event Description: More than 40 craftspeople from all over the Bay Area will display their wares—ceramics, clothing, fiber artists, glass work, herbs, metal work, jams, jellies, jewelry, oils, ornaments, paintings, soap, toys, and much more.

The Holiday Crafts Fair was one of the first events ever held when the Dance Palace was found 40 years ago in the old Dance Palace building, the current home of the Cabaline. Over those 40 years the vibrant arts and crafts community of West Marin has sold their wares to neighbors, friends, and visitors alike. This year is no different. Visitors to the Fair can buy all their holiday gifts and enjoy delicious food prepared by Indian Peach Food Company. Support your local artists by shopping at this year for your holiday gifts!

More information: http://www.dancepalace.org

 

December 3, 2011 10:00 AM - 5:00 PM

Event: Holiday Craft Fair

Location: Mill Valley Community Center 180 Camino Alto Mill Valley, California 94941

Event Description: Come One, Come All! Enjoy some unique holiday shopping at the Mill Valley Holiday Craft Fair, Saturday, December 3rd, 10am-5pm at the Mill Valley Community Center, 180 Camino Alto in Mill Valley. The fair features more than 55 new and returning artists selling their fine handmade arts and crafts. There is a wide variety of items to choose from including woodwork, jewelry, glasswork, ceramics, decorations, knitwear, fiber arts and much more. Admission and parking are FREE!

 

December 3, 2011 4:30pm to 8:00pm

Event: Novato's Holiday Celebration

Location: Sherman Avenue

Event Description: Highlights of the event include the visit from Santa and his elves and the Holiday Tree Lighting.

More information:

http://www.ci.novato.ca.us/Index.aspx?page=637&recordid=1128&returnURL=%2findex.aspx

 

December 4, 2011 4:00p

Event: Holiday Concerts by Candlelight - Marin Symphony

Location: Church of St. Raphael, San Rafael, CA

Event Description: Join us for the decades-long Marin Symphony tradition when families and friends in our community gather to share the spirit of the holidays. At this heart-warming event, our Symphony’s Chamber Chorus and the Marin Girls Chorus will be accompanied by string quintet, harp, oboe, and handbells.

More information: http://www.marinsymphony.org/index.php

 

December 10, 2011 9am

Event: Breakfast With Santa

Location: Belvedere Community Center

Event Description: Music, crafts, tasty breakfast and a visit with the Big Man! Photo opportunity with Santa. Bring your own camera. Please call (415) 435-4355 for reservations.

 

December 10, 2011 5:00p

Event: Marin Ballet's Nutcracker

Location: Marin Civic Center

Event Description: Come celebrate the grandeur of one of ballet's most famous stories! Rich in traditions of holiday magic and lavish surprises, Marin Ballet presents a delightful adventure of childhood fantasy and beautiful classical dance. Artfully revitalized by choreographer Julia Adam starting in 2008, Marin Ballet continues to add new elements to this cultural jewel of Marin County

More information: http://www.marinballet.org

 

 

December 10, 2011 5:30pm

Event: Santa by Sea

Location: Bel Marin Keys

 

December 10, 2011 6pm

Event: Lighted Boat Parade & Fireworks Display

Location: Sausalito Waterfront

Event Description: Don't miss this festive Sausalito holiday event - with beautifully lit boats, fireworks and much merriment on Sausalito's waterfront.   For more information call 415-331-7204.

 

December 11, 2011 8am to 10:30am

Event: Breakfast With Santa 

Location: Corte Madera Rec Center 

Event Description: Come join Santa and his little helpers for a pancake breakfast with all the fixins. To register or to get further information please contact The Corte Madera Parks and Rec at 927-5072.

 

December 11, 2011 12:00 pm - 3:00 pm

Event: Festival of Lights

Location: Marin Jewish Community Center

Event Description: Celebrate the Festival of Lights with live musical performances, arts & crafts, delicious holiday treats, an artisan marketplace and much more!

 

December 11, 2011 3:00 PM - 7:00 PM

Event: Cookie Decorating Event at Panera Bread

Location: Northgate Mall

Event Description: Join us for cookie-decorating fun at Panera!  Each child will receive a complimentary Gingerbread Man to decorate for the holidays. Seats will fill up quickly so RSVP for one of the four time slots at Guest Services, or call (415) 472-3212.

 

December 17, 2011 11:30 a.m. & 1 p.m.

Event: Dream Circle Holiday Concert with Tim Cain, Judy Nee (Miss Kitty), Cindy Cohen and Christopher Smith

Location: Bay Area Discovery Museum

Event Description: Join us for a delightful and uplifting seasonal celebration featuring songs for a wide range of winter holidays, including Christmas, Hanukkah, Kwanzaa, and Chinese New Year. Dream Circle is indeed a dream lineup of Marin’s best loved children’s entertainers. Share in the true meaning of the holidays at this heart filled performance and then spend a wonderful day at the Museum.

Buy tickets: http://www.baykidsmuseum.org/store/performances/dream-circle-holiday-concert.html

 

December 17, 2011 1 pm and 5 pm
Event: Sophie and the Enchanted Toy Shop, Marin Dance Theatre

Location: Marin Veterans' Memorial Auditorium, San Rafael

Event Description: Marin Dance theatre, presents this delightful full-length, two act ballet, featuring over 150 dancers along with professional guest artists. This wonderful production has become a “must see” for the Bay Area community, as audiences marvel at the Dickens- style street scene alive with gypsies, magicians and mysterious masked players. As a kindly toymaker enters with his mischievous alley cats, he observes little Sophie, and being touched by her generous kind spirit, rewards her with an amazing journey to a beautiful Snow Kingdom. She is greeted by the elegant Snow Queen and her beautiful Snow Maidens and then continues on her way to the Enchanted Toyshop. It’s here that she’s entertained by magical toys and dancing dolls.

Following the 1 pm performance, meet the cast at the Teddy Bear Tea Party and enjoy cookies, candy canes and refreshments, and have the opportunity to take photos with the cast of several “Sophie” dancers.

More information: http://www.mdt.org

 

December 22, 2011

Event: Gingerbread Cookie Decorating and Holiday Stories

Location: Larkspur Library  

Event Description: Join us for a morning of holiday stories and crafting! We will be telling holiday stories, decorating gingerbread cookies, and creating holiday crafts, for a fun winter treat. Ages 3 and up, please have younger children accompanied by a care-giver. RSVP to the library by phone or email to library@cityoflarkspur.org

 

December 22, 2011 8:00p

Event: A Christmas Carol

Location: 142 Throckmorton Theatre, Mill Valley

Event Description: Join us for a true-to-Dickens style version of A Christmas Carol, with imaginative sets, intense visuals, cinematic hues and shadow play which all bring this tale of Victorian ghosts, Scrooge's epiphanies and genuine holiday spirit from dark to light. While we slowly exit from a serious economic downturn and people the world over are encouraged to find happiness based more on spirit than finances, A Christmas Carol and its inherent message speak louder than ever

More information: http://www.142throckmortontheatre.com/event.php?eventid=1575

 

Month Long Events:

Town Center, Corte Madera

FREE SANTA PHOTOS

Santa will be here from 11 am - 4 pm on

November: Fri. 25, Sat. 26 & Sun. 27

December: Sat 3, Sun 4, Sat 10, Sun 11, Sat 17, Sun 18, Mon 19, Tues 20, Wed 21, Thur 22, Fri 23, Sat 24

 

FREE GIFT WRAP (Provided by Hospice by the Bay)

November 25th - December 11th: 11 am - 4 pm

December 12th - December 23rd: 11 am - 6 pm

Christmas Eve, Friday, December 24th: 11 am - 4 pm

 

The Village, Corte Madera

Sounds of the Season

Please visit for more information: http://www.villageatcortemadera.com/Events/Details/43323

 

Santa Photos

Visit Santa at the Santa House (located in the Macy's wing) for Photos and a FREE Gift

11am-7pm daily except Sunday through December 24th

 

Northgate Mall, San Rafael

Santa Photos

Visit Santa at the Santa House (located in the Macy's wing) for Photos and a FREE Gift

11am-7pm daily except Sunday through December 24th

 

Bay Area Discovery Museum, Sausalito

Gingerbread Architecture Fundraiser

December 3 & 4, 10 & 11, 17 & 18

10:30 a.m., 11:30 a.m. & 12:30 p.m.

December 19, 20, 21, 22 & 23

9:30, 10:30 & 11:30 a.m.

Let your imagination run wild as you create the most delightful gingerbread house on the block, festooned with candy canes, gumdrops, frosting and other treats. Don’t miss the sweetest event of the holiday season.

Pre-registration required: http://www.baykidsmuseum.org/store/events/gingerbread-architecture-fundraiser...