Show & Tell – Marinwood under $700,000

This past weekend I met a new client and took him out to preview a few properties under $700,000 in San Rafael’s Marinwood suburb. Since this is considered a more affordable price point for the Dixie School District there was very little to see.  We looked at three homes, two of which already had accepted offers. These buyers would like to purchase something right away, and the rationale behind showing unavailable homes is to give them an idea of what they can expect to see in their price range as homes come on the market in the coming year.

The first home we previewed had previously received an accepted offer, but it apparently fell out of contract after inspections. After a buyer does their property inspections it’s normal for them to try to negotiate significant deficiencies on properties. Sometimes the buyers ask for and expect more than sellers are willing to give back, either in the form of a price reduction or a credit towards closing costs. This is really one of the areas where good agents can guide their clients and help keep a deal together through tactful, reasonable negotiations. Sometimes however buyers decide a home needs too much work altogether and walk away.

The last thing a seller’s agent and their seller should want is the property to have to come back on the market, especially if there are significant findings in buyer’s inspections. These inspections give new potential buyers pause to not make offers. In the case of this Marinwood home according to the reports there is currently some standing water under the house and a sump pump was replaced, so it might need additional drainage and/or another sump pump. Plus the sewer line needs replacement and it needs a new ejector pump. The seller recently dropped their price $20,000 and it will likely get gobbled up quickly by the right buyer. My buyers decided it wasn’t for them and made an interesting comment, “It looked a lot different in person than in the pictures”. They usually do.

The next property we looked at was in Casa Marinwood, a four bedroom townhome priced under $500,000. Some people really like the stucco and Spanish style roofing tile on these homes. This townhome had two stories with the living area downstairs, the sleeping upstairs. New carpet had been put in and there was some new paint, and the kitchen and bathrooms were in original condition. Some of these homes have larger balconies. This one had a nice yard space which you don’t find in most townhome developments. The property had come on the market early in November, it went right into contract and was due to close any day. My buyers liked the amount of space this home had and the additional bedroom, plus the price was nice compared to first one they saw so they decided to keep their eyes open for upcoming listings in Casa Marinwood.

The last home we looked at was a Marinwood/Lower Lucas Valley Eichler. Refurbished and remodeled and with four bedrooms this home didn’t sit on the market long and was also due to close any day. Some people are great mid-century modern Eichler fans. The home didn’t look like it needed any work and with all the large glass windows opening up to the back and side yards it had the quintessential open Eichler feel. The home was built in 1957 on a convenient corner lot, very close to a park, the Marinwood community pool and walking distance to Miller Creek Middle School.

While we didn’t find a house to purchase this weekend my buyers did come away with some good knowledge and understanding of homes in the area, as well as the home buying process in general. We’ll keep looking and when the right home comes up they’ll be ready.