Novato, CA Real Estate News

By Kelley Eling, Realtor Extraordinaire
(Fathom Realty Group)
As of November 3, 2007 only 11% of available listings in Novato are in escrow, indicating a very strong Buyer's Market.  So, come MAKE YOUR BEST OFFER!For the month of October 2007 28 homes sold in Novato for an average final selling price of $695,961.The average original asking price of these homes was $743,098.It took these homes an average of 99 days to sell.Of the 28 homes that sold, 2 sold AT their original asking price and 3 sold OVER.  All other sold for less.  So, come, MAKE YOUR BEST OFFER.For more information about this area, click here, or feel free to contact me directly.
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By Scott Dovala, Santa Rosa Mortgage and Home Loans
(Ascent Home Loans)
With all the newspapers, TV News and stories on the internet in regards to what's going on in mortgage industry, sometime it might be a little scary to even think about getting a loan.  Loan programs have changed or have been entirely discontinued, everyone has heard about the sub-prime problems, in fact you may have a sub-prime loan right now as you're reading this. Mortgage companies all across the US have closed their doors. Actually, things are not as bad as they seem. There are still plenty of loan programs available to current homeowners, investors and first-time buyers. Despite what the news reports have been implying, there are actual senior loan officer's across the US, including myself,  who are reputable and are willing to take the time to talk to their clients and help them ...
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By Kyle Frazier, Kyle Frazier , CRS & Marin CA Realtor
(Christie's Great Estates | Pacific Union International)
This article concerns itself with the relative price and value of one of Marin's most affordable towns-Novato. In other parts of California (and certainly across the country), real estate prices are down by 30% and foreclosures sky-rocketing. Yet, such phenomenon are very limited in Marin. In fact, much of Marin is experiencing a remarkably resilient home sales market trending upwards (even if just incrementally) in price.  Yet, in Novato (Northern Marin) many home buyers (especially those in the entry level and move-up markets) are firmly entrenched in "wait and see" mode. They are waiting to see what happens with prices. They are waiting to see what happens with interest rates. They are waiting to see what everyone else does. But, time may be running short. Some time soon people will ...
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By Kelley Eling, Realtor Extraordinaire
(Fathom Realty Group)
As of October 4, 2007, 10% of available listings in Novato are in escrow.For the month of September 2007, 21 homes sold in Novat for an average final selling price of $719,579.The average original asking price of these homes was $$770,706.It took these homes an average of 69 days to sell.Of the 21 homes that sold, 5 sold AT their original asking price and 1 sold OVER.For more information on this area, click here, or feel free to contact me directly.
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By Kyle Frazier, Kyle Frazier , CRS & Marin CA Realtor
(Christie's Great Estates | Pacific Union International)
Below are a few factors which point to Novato as a place with a bright future.1) The widening of HWY 101, now in its final stage, is on target for a Fall 2008 completion. Because of current construction, traffic going south on HWY 101 can be bad. Traffic woes are expected to be reduced dramatically (by as much as 20 minutes from Novato to San Francisco -- and this is 20 off the commute time pre-construction when traffic was much lighter). I think this factor alone will propel prices upwards once work is done.2) Schools. Marin has many great schools and school districts. Novato is no exception. When its schools are compared to the rest of Marin County, the test scores are very similar. Although Novato's schools don't have the "reputation" of some of Marin's other (in some cases, comparat...
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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 is famous for it's small town feel and low crime rate. Although Novato officially has a population of over 50,000, but because of the appeal of different areas (such as San Marin, Country Club, Pacheco Valley, Pleasant Valley, Hamilton, Indian Valley, ..,etc); each area has it's own charasterics and own concentration of residents. This is a family-oriented town and it always seems to me that I know almost everybody in town.Kids feel safe to go from one place to the other and they enjoy a lot of outdoor activities from soccer, to swimming, to horseback riding, to tennis, to baseball, .., etc. This is a wonderful and safe town for kids and families
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By Kelley Eling, Realtor Extraordinaire
(Fathom Realty Group)
As of September 7, 2007, 10% of available listings in Novato are in escrow.For the month of August 2007, 42 homes sold in Novato for an average final selling price of $745,913.The average original asking price of these homes was $803,210.It took these homes an average of 92 days to sell.Of the 42 homes that sold, 5 sold AT their original asking price and 4 sold OVER.For more information about this area, click here, or feel free to 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))
My clients often asked me about the commute situation from Novato to the City (San Francisco)?I live and work in Novato, so I pretty much try to avoid the traffic when I go into the city. If I go to the city outside of the heavy traffic hours, I can be in Outer Sunset (where my sister lives) within 30 minutes, and in downtown, Market street within 40 miuntes if not less. However, my husband commutes to the city every day and he does have to negotiate the heavy traffic. There are several ways to commute to S.F.; by car, by bus or by car then ferry, which is what my husband does mostly. If you drive, you would take 101 South. The traffic backs up a bit where highway 37 merges in from Vallejo, going towards Freitas Parkway in San Rafael, and finally where the three lanes 101 merges into 2 ...
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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 is an amazing town, located at the foothill of Mt. Burdell, there are lots of dedicated open space and many treasured parks. Hiking and biking trails lace throughout the town, parks and hills.Stafford Lake is a local lake which hosts annual Labor Day firework with a gorgeous golf course nearby. Pioneer Park offers concerts and movie nights during warm summer nights and don't forget the annual San Marin Improvement Association's annual Easter Egg Hunt; Miwok park has a local historical museum and hosts summer programs for kids; O'Hare park is famed for the scenery trails and creeks and is also where local high school rivals San Marin and Novato High have their Red Rock Cross Country race; you often see horse lovers riding their horse next to the colorful peacocks strolling along I...
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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))
We just came back from the Labor Day by the Lake, a tradition in Novato, CA (north most town in Marin). The place is surrounded by gorgeous hills, sparkling lake, marsh, open space, and just wonderful, wonderful people all around. The kids runs free, the adults greet friends, the teachers work hard and are dedicated, hiking, biking trailers all around, sunny, beautiful weather most of the year, ,a 50,000 town but you feel like you know everybody. My friend and I were talking, there is just no better place to bring up a family! I gave up my great IT career after dot.com bust, chose the real estate career so I can stay around town, but I get to volunteer extensively at local high school doing things that help the kids, the teachers and the school. I am surrounded by wonderful people and g...
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By Kelley Eling, Realtor Extraordinaire
(Fathom Realty Group)
As of August 5, 2007 14% of available listings in Novato are in escrow.For the month of July 2007 51 homes sold in Novato for an average final selling price of $$813,528.The average original asking price of these homes was $851,793.It took these homes an average of 69 days to sell.Of the 51 homes that sold, 2 sold AT their original asking price and 4 sold OVER.For more information about this area, click here, or feel free to 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 glance at the Novato Real Estate Housing Market Statistics as of July 25, 2007 From the statistics below, we can see that we are in a Buyer's market other than the bread and butter price range of $600K to $700K - the starter homes in Novato.  For houses close to $1M and slightly higher than $1M, it's amost a Balance market.  We will continue to post the statistics for your information. Category# of Units % Active  % PendingAll SFD's24782%18%CID's11690%10%$0-$500K SFD4100%0%$500,001 - $600K1694%6%$600,001 - $700K3167%33%$700,001 - $800K4484%16%$800,001 - $999,9996578%22%$1M - $1.25M3689%11%$1.25M - $1.5M2677%23%$1.5M+2588%12%Less than 15% in Contract = Strong Buyer's Market 15-25% in Contract = Buyer's Market 25% - 35% in Contract = BALANCED MARKET35-45  % in Contract = Seller's Market...
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By Kyle Frazier, Kyle Frazier , CRS & Marin CA Realtor
(Christie's Great Estates | Pacific Union International)
Novato home sales and real estate values-have they hit slack tide? That's a tough question. While much of the rest of Marin continues to experience meaningful appreciation and, yes, even multiple offers. Novato home sales are a different story. Of course, Novato homes that are PRICED FOR TODAY'S MARKET, are nicely maintained, updated, and/or located in the most desirable neighborhoods continue to sell (especially those priced under $700,000). Once prices get up above $700,000, however, the percentage of homes in escrow (a good barometer of market strength) dips to about 20% until you get to the $1.5 million price range (at about 13%). These numbers clearly indicate a fairly strong buyers market. Interestingly, homes priced in the $1 million - $1.5 million range are selling at a similar ...
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By Kelley Eling, Realtor Extraordinaire
(Fathom Realty Group)
As of July 6, 2007 17% of available listings in Novato are in escrow, indicating a Buyer's Market.For the month of June 2007, 56 homes sold in Novato for an average final selling price of $844,724.The average original asking price of these homes was $878,458.It took these homes an average of 72 days to sell.Of the 56 homes that sold, 9 sold AT their original asking price and 9 sold OVER.For more information about this area, click here, or feel free to contact me directly.
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By Kelley Eling, Realtor Extraordinaire
(Fathom Realty Group)
As of June 6, 2007 21% of available listings in Novato are in escrow.For the month of May 2007, 62 homes sold for an average final selling price of $789,794.The average original asking price for these homes was $816,257.These homes took an average of 69 days to sell.Of the 61 homes that sold, 12 sold AT their original asking price and 8 sold OVER.For more information on this area, click here, or feel free to contact me directly.
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By Kyle Frazier, Kyle Frazier , CRS & Marin CA Realtor
(Christie's Great Estates | Pacific Union International)
Novato home sales and real estate values are proving to be somewhat sluggish as we enter the Spring selling season. Novato's homes that are nicely maintained, updated, and/or located in the most desirable neighborhoods continue to sell at a relatively quick pace (especially those priced under $700,000. Once prices get up above $700,000, however, the percentage of homes in escrow (a good barometer of market strength) dips to about 25%.Interestingly, homes priced in the $1 million - $1.5 million range are selling at a similar rate (in terms of percentage in escrow) as those in the $700,000 to $1 million price range. Homes in Novato that sold during the past month (there were 43 home sales) averaged about 65 days on market, for an average price of $882,640 (about $433 per square foot). Cur...
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By Kelley Eling, Realtor Extraordinaire
(Fathom Realty Group)
As of May 4, 2007 21% of available listings are in escrow, which could be perceived as a Buyer's Market--if you look at only that statistic.  However, more factors come in to play, and I am calling Novato a Seller's Market, as Marin County is seeing bidding wars on a regular basis, once again.For the month of April 2007 47 homes sold in Novato for an average final selling price of $788,554.The average original list price of these homes was $814,672.It took these homes an average of 72 days to sell.Of the 47 homes that sold, 6 sold AT their original asking price and 8 sold OVER.For more information about this area, click here, or feel free to contact me directly.
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By Kyle Frazier, Kyle Frazier , CRS & Marin CA Realtor
(Christie's Great Estates | Pacific Union International)
The level of inventory for single family homes in Novato (North Marin County) has increased steadily over the past several months.  As we get settled into the peak buying and selling season in Marin, Novato leads all other Marin towns in homes for sale with 173 (active listings).  There are 66 properties currently in escrow.  Twenty-seven homes in Novato sold this month as of 4/28/07.  The current absorption rate for homes in Novato is approximately 3.8 months of inventory.  However, close examination of the sales breakdown shows that sales gravitate in the under $800,000 price-range.  Overall, in Novato, the average days on market for homes that sold is 61 days.Of the 27 homes in Novato that sold in the past month, 19 were priced under $800,000, only 3 between $800,000 and $1 million, ...
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By Kelley Eling, Realtor Extraordinaire
(Fathom Realty Group)
As of April 6, 2007 20% of available listings in Novato are in escrow indicating a Buyer's Market.  For the month of March 2007, 42 properties sold in Novato for an average final selling price of $811,117.The average original list price of these homes was $842,770.These homes took an average of 83 days to sell.Of the 42 homes that sold, 5 sold AT their original asking price and 4 sold OVER.For more information on this area, click here.  Or feel free to contact me directly.
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By Kyle Frazier, Kyle Frazier , CRS & Marin CA Realtor
(Christie's Great Estates | Pacific Union International)
Novato Real Estate Market Overview (Home Sales Market Report 4/1/07)Overall, the market in Novato is gathering momentum.  There are currently 155 active listings (single family homes) for sale (up from 126 last month).  About 1/3 of those are priced under $750,000-making Novato a desirable option for buyers priced out of Central and Southern Marin.  Indeed, 20 of the 40 homes that sold in Novato during the past month were priced at or below $750,000.  By comparison, Mill Valley, at the time of this writing, has just one listing under $750,000.  Nicely maintained and updated homes, located in nice neighborhoods with good schools (and, of course, priced well) are seeing multiple offers and selling quickly.  Multiple offers today, however, does not translate into overbidding as it did a co...
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