Novato, CA Real Estate News

By Kevin McGinnis, Marin County Luxury Homes Expert
(Golden Gate Sotheby's International Realty)
Novato Foreclosures List - Single Family Homes For Sale "Your complete source for Marin foreclosure listings."   September 21, 2009 Please click this link to view ALL bank-owned (REO) properties currently on the MLS. These are "active" status and listed as available for purchase. NOVATO FORECLOSURES: SINGLE FAMILY HOMES  (5 total) TO SEE any of these properties, or for more information, please contact Kevin by phone or email: kmcginnis@fhallen.com or (415) 725-1911  Search the entire MLS... go to BestHomesMarin.com    
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By Kevin McGinnis, Marin County Luxury Homes Expert
(Golden Gate Sotheby's International Realty)
Novato Short Sale List - Single Family Homes For Sale "Your complete source for Marin short sale listings."   September 21, 2009 What is a short sale? It's where the sellers owe more on their mortgage than the house is now worth, so they must ask the bank to accept less when they sell. These are often "pre-foreclosure" properties. The major banks are starting to see the light, favoring and encouraging short sales versus foreclosures. That's good news for everyone, including buyers because it should shorten the buying process. Now, a typical short sale can take 2-4 months to close. Short sales can present a great opportunity for home buyers because the seller's emotion is taken out of the equation, and the price becomes all about market value based on recent sales (and not what the selle...
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By Kyle Frazier, Kyle Frazier , CRS & Marin CA Realtor
(Christie's Great Estates | Pacific Union International)
I have written in past months about the high level of competition in Novato, California’s entry level real estate market. This trend continues into Q3 2009. In August 2009, 38 Novato homes sold. This is down from 47 sales in July and the same as in June. Many of these sold properties were bargain basement homes that were in some of distress. But, the inventory continues its rapid absorption as pent up demand, historically low interest rates, the First Time Homebuyer Credit, and increased affordability carry the day. Continuing on a trend noted last month, the average sales price of Novato homes rose. In August 2009, the average price for a Novato home was $ 713,440. That is up from $632,078 in July  and from $622,000 in June. While this large bump may be anomolous, the fact it follows ...
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By Kelley Eling, Realtor Extraordinaire
(Fathom Realty Group)
As of September 11, 2009 an encouraging 49% of available listings are in escrow. For the month of August 2009 60 homes sold in Novato, for an average final selling price of $571,464. The average original asking price of these homes was $607,933. The range of final selling prices was from a low of $108,500 to a high of $2,100,000. Of the 60 homes that sold (with a whopping 34 of them being distress sales) 6 sold at their original asking price and 13 sold over their original asking price.  All others sold for less. It took these homes an average of 107 days to sell. To see everything that is currently available on our MLS click here. To learn more about this area visit my website or contact me directly.
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By Sylvia Barry, Marin and Sonoma Real Estate Leading Expert
(Coldwell Banker Previews International (#1 Marin_Sonoma_San Francisco_North_Bay))
A semi uneventful but very busy week for the office, with one wonder property on the market - a deliberally priced low REO single family home next to Novato High School, lots of unfinished, unpermitted work.  The property commanded 23 offers in a few short days with several over asking, all cash offers.  Novato realtors are buzzing about this kind of trend for REO offers (other than one extremely low priced short sale home on Leland Drive a while back, none generated as much activity as this house).   An experienced and knowledgable local Realtor is ultra important in guiding you through this new real estate maze - Check with your Realtor on how to spot, evaluate and make strategic offers in the current market!  As you can see from the statistics below, percentage wise, there is not a ...
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By Sylvia Barry, Marin and Sonoma Real Estate Leading Expert
(Coldwell Banker Previews International (#1 Marin_Sonoma_San Francisco_North_Bay))
Fabulous Mt. Burdell provides a gorgeous backdrop for City of Novato in the magnificant Marin County, San Francisco North Bay, CA. The pictures were taken in the summer, around the very desirable Partridge Knolls neighborhood, overlooking San Marin, showing the 'golden' state. During the raining season, the hills turns fresh and than jade, provides a refreshing look throughout the county. Mt. Burdell, being one of the 'younger' hills in Marin County, has oak trees dotted in various places, provides a lively and beautiful picture of the hills.
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By Sylvia Barry, Marin and Sonoma Real Estate Leading Expert
(Coldwell Banker Previews International (#1 Marin_Sonoma_San Francisco_North_Bay))
Can't believe summer slips by so quickly!  I last posted Novato Statistics on April 1, 2009 and now is the later part of August.  Students are back in school and we are heading into fall.     During the past four months, with housing prices dropped 20%-30% and certain condos at 50% drop (the ones with problementic HOAs), stimulus plan, attraction of the 'up to $8,000 credit back', interest rate staying low, regular sellers holding onto their properties unless they have to sell; the supply remains low and demand has heightened.  All these contribute a shift in the percentage of houses under contract, moving most price ranges into the 'sellers' market, meaning % of houses under contract is great than 40%.     The only decrease in percent of pendings are the 700-800K range (inbetween star...
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By Kevin McGinnis, Marin County Luxury Homes Expert
(Golden Gate Sotheby's International Realty)
August 21, 2009 -- It's amazing how quickly these homes go up! Olive Court is a new cul-de-sac community in east Novato, in lovely Marin County. Green construction. Visit our brand new website, http://olivecourthomes.com Listings courtesy Kevin McGinnis and Mike Cohen, Frank Howard Allen Realtors(415) 725-1911
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By Sylvia Barry, Marin and Sonoma Real Estate Leading Expert
(Coldwell Banker Previews International (#1 Marin_Sonoma_San Francisco_North_Bay))
Novato public schools are back in session, and Duke, our beloved Laborator / Pointer mix is very happy that he gets to go to Dogbone Meadows Dog Park to see his best friend, Hunter, again.  Since Dogbone Dog Park is in the opposite direction of my house in Partridge Knolls, San Marin Area, to my work, Frank Howard Allen Realtors, Duke only gets to go there after I drop my younger son off at the local school which is just a block away from the park.  This means Duke has not been there for quite sometime :-(   The park is very popular, lots of dogs and their humen go there to hang out with their buddies.  The place can get overwhelming for Duke and I late afternoons after work.  I love going there in the mornings where things are calm, and there are only a few familiar dogs and very respo...
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By Kevin McGinnis, Marin County Luxury Homes Expert
(Golden Gate Sotheby's International Realty)
August 17, 2009 -- At Olive Court, three homes have been completed, and now foundations are poured and framing is going up for the last six homes! Olive Court is a new cul-de-sac community in east Novato, in lovely Marin County. Visit our brand new website, wwww.OliveCourtHomes.com Listings courtesy Kevin McGinnis and Mike Cohen, Frank Howard Allen Realtors(415) 725-1911 or kmcginnis@fhallen.com
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By Kyle Frazier, Kyle Frazier , CRS & Marin CA Realtor
(Christie's Great Estates | Pacific Union International)
Last month, for the first time since I began writing Novato monthly updates back in 2006, I stated that it appears that the Novato, CA. market (for single family homes) seems to be improving in two meaningful ways. Certainly, sales have risen from last year and we have several months of increasing sales (as the inventory of short sales and foreclosures is quickly snapped up by motivated buyers). But, perhaps even more importantly from the perspective of home owners, it also appears that prices at the entry level (e.g., properties priced below $500,000) have bottomed out. As evidenced by the chart below,the 90-day rolling average of Novato home prices has been rising since May 2009. Obviously, higher asking prices do not, ipso facto, result in higher sales prices (some local real estate...
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By Kelley Eling, Realtor Extraordinaire
(Fathom Realty Group)
As of August 13, 2009 an impressive 47% of available listings in Novato are in escrow. For the month of July 2009 an encouraging 57 homes sold in Novato for an average final selling price of $572,231. The average original asking price of these homes was $621,450. The range of final selling prices was from a low of $187,000 to a high of $1,512,500. Of the 57 homes that sold, 5 sold at their original asking price and 15 sold over their original asking price.  All others sold for less. It took these homes an average of 107 days to sell. To search our MLS and see everything that is currently available for sale, click here. For more information about this area visit my website or feel free to contact me directly.
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By Gene Riemenschneider, Turning Houses into Homes
(Home Point Real Estate)
Best Buy on Luxury Novato Home for Sale. This Novato Home is one of the finest Homes for Sale in Novato, located at 2424 Vineyard Road, Novato; it sets in the Prestigious Wild Horse Valley area of unincorporated area of Novato. This Novato Home features a large corner lot with a park like setting and a luxury interior that feels like a bed and breakfast. This Novato Home is meant to be enjoyed in all seasons: In Summer at your Novato Home you could take one of the two bridges across your own stretch of creek surrounded by natural foliage and tastefully fenced off for safety, over to the pool. The larger private pool area will allow you alone time to think in the warm summer sun or you could host a barbeque on the large patio over looking the creek. This house and property is well laid o...
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By Kevin McGinnis, Marin County Luxury Homes Expert
(Golden Gate Sotheby's International Realty)
The Homes at Olive Court Open Friday, August 7 from 1-4 p.m.  Also open Saturday and Sunday 1-4 p.m.  3, 19 and 27 Olive Ct. in Novato Rare new construction in "no-growth" Marin County. Elegant NEW Craftsman-style homes with lots of architectural flair. Olive Court is a cul-da-sac community featuring 9 luxury homes in East Novato, less than a mile from downtown. Three homes have been completed and the developer is full-steam ahead on the remaining six. I was out there today and they were pouring foundations. Olive Court features state-of-the-art GREEN building technology to help reduce the impact on the environment and improve the quality of life for the buyers and the surrounding community. Each home has many designer custom touches and "intelligently" designed floor plans to meet the ...
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By Kevin McGinnis, Marin County Luxury Homes Expert
(Golden Gate Sotheby's International Realty)
If you are looking to buy newer construction in Marin County, Pointe Marin is an excellent place to consider. It's located in southern Novato in the Ignacio area on the west side if Highway 101. Pointe Marin is made up of about 250 single-family homes, all built within the last seven years (since 2003).  Pointe Marin's newer construction makes it a rare subdivision in Marin County, where there's a zero-growth policy.  Pointe Marin also has condos for people age 55 and over, along Entrada Drive. The Pointe Marin neighborhood used to look a lot different, and it had a different name, too. Formerly called Rafael Village, these 100 acres along Ignacio Blvd. were the site of surplus military family housing for Hamilton Air Force Base (which was primarily located across the freeway at what is...
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By Kyle Frazier, Kyle Frazier , CRS & Marin CA Realtor
(Christie's Great Estates | Pacific Union International)
Bel Marin Keys (Novato, California) Real Estate and Homes for Sale Novato’s Bel Marin Keys provides a carefree and luxurious waterfont lifestyle in Southern Novato, just 30 minutes from San Francisco.   Few places are as magical as Bel Marin Keys. This unique community of approximately 700 homes consists of a series of channels and lagoons flanked by homes and surrounded by open spaces. Not only can you enjoy the lagoon, but if that proves too confining, you also have nautical access to the San Francisco Bay (Giants game anyone?). Homes in Bel Marin Keys range in size from about 1,750 sq. ft. to about 2,250 sq. ft. and are priced generally from about $600,000 to $1.5 million, depending on size, upgrades, and location. Click HERE for details relating to one of my listings. There are play...
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By Kyle Frazier, Kyle Frazier , CRS & Marin CA Realtor
(Christie's Great Estates | Pacific Union International)
Pointe Marin, Novato, California (Homes & Real Estate) Pointe Marin is a newer housing development in desirable Southern Novato, Marin County (which is about 20 miles north of the Golden Gate Bridge and the varied offerings of San Francisco, California). It is favored by families and retireess alike and is undoubtedly one of Novato’s most sought-after neighborhoods. This Novato neighborhood is quiet and relaxed, with wide streets and lots of cul-de-sacs. Many of Pointe Marin’s homes back up to open space and all are within close proximity to shopping, transportation, HWY 10, hiking trails, water, sports field, parks, and schools. Pointe Marin is also close to prestigeous Marin Country Club, Stonetree Golf Course, the Indian Valley Campus of Marin Community College, and several other spo...
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By Kyle Frazier, Kyle Frazier , CRS & Marin CA Realtor
(Christie's Great Estates | Pacific Union International)
Hamilton Field, Novato CA Real Estate and Homes  Hamilton Field in Novato (Marin County), California, is a model community filled with a vitality and energy all its own. Since its inception as a planned community about ten years ago, Hamilton Field has seen vast improvements and is now a magnet community for folks of all different ages and backgrounds. Hamilton Field is a jewel. The former military base, which was used by the Army and Air Force from the 1930’s to the 1970’s, is now a delightful community of over 1,000 homes. It is, to my mind, one of the very best communities in Marin as it has everything you need within easy walking distance (including shopping, dining, and all kinds of outdoor activities from swimming to skateboarding and biking to birdwatching). The 408-acre Hamilton...
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By Kyle Frazier, Kyle Frazier , CRS & Marin CA Realtor
(Christie's Great Estates | Pacific Union International)
The Novato single family home market seems to be forming a bottom. Prices appear to be leveling out and the percentages of entry level homes in escrow are very high. I know that many foreclosure sales and short sales are getting multiple offers. I have several clients who have faced as many 9 to 20 offers in competition for a single family home. This activity bodes well for sales in the higher price bands. Moreover, in June 2009, Novato had 38 sales (up from 32 in June 2008). Indeed, this reflects an upward trend over the past few months—May 2009 had 44 sales. Of course, many of these are bargain priced homes such as REO’s or short sales. But, nonetheless, the inventory is rapidly being absorbed as there is extraordinary pent up demand. Perhaps more significantly, the average sales pri...
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By Kevin McGinnis, Marin County Luxury Homes Expert
(Golden Gate Sotheby's International Realty)
Foreclosures continue to be the big story in 2009.  According to Realty Trac, 1.5 million homes either received a foreclosure filing or were seized by banks.  And keep in mind, there was a 3-month moratorium on foreclosures for three months!  As usual in Marin County, Novato continues to lead the way with the most foreclosed homes. While this is devastating to a family, the other side of the coin is that people who have been priced out of the market for years, now have a chance to own a home. But foreclosure is the big story and try as they might, no one seems to have a workable solution to the problem.  Loan modifications are spotty at best, and the unemployment freight train keeps rolling along.  One in six members of the workforce in the U.S. is either unemployed or underemployed.  T...
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