novato: Marin County Trends $500K to $1 million (Q1 to Q3 2009) - 10/21/09 04:27 AM
The year 2009 in Marin County, California has been a roller coaster ride for real estate sellers, buyers, and agents. To the extent that trends can be identified, they have proven particularly ethereal and fleeting.
Nonetheless, it does appear that the one market sector that has shaken out this year is the entry level single family home market. Prices appear to have hit bottom in Novato's (Northern Marin) sub-$500K sector. Seemingly, most agents agree that to find a "livable" home in a good neighborhood is very difficult to find under $500K. Inventory in that price band is slim and quickly put … (0 comments)

novato: Marin County, CA. Real Estate Update — October 2009 (Homes For Sale & Price Ranges) - 10/19/09 05:27 AM
Over the past year, my reports have continually pointed to simple supply and demand indicators in an effort to define a “normal” Marin County real estate market. As noted a year ago, “recovery to a normal market will require stability in financial markets, a strong local employment trend, affordable interest rates and strengthening consumer confidence.”  
Reflecting on the past twelve months, Marin County real estate markets experienced the most difficult and unpredictable dynamics. The financial markets imploded, unemployment trends accelerated and consumer confidence was shattered. And while we benefit from historically low interest rates, credit requirements, approval guidelines, and loan … (0 comments)

novato: Novato, California (Real Estate Market Update -- October 2009) - 10/15/09 04:56 AM
“Give Yourself a Raise. Move to Novato.”  
Entering into the dormancy season for Marin County real estate, it appears that certain “hotspots” remain — Novato is one of them. In September 2009, 35 Novato homes sold, compared with 38 sales in August 2009. The Novato real estate market derives its strength from entry level home sales. The number of homes actively listed in Novato remains very low compared with the rest of Marin (and the percentage of homes in escrow is much higher than the rest of Marin) because of exceptional demand based on affordability and the ongoing fantastically low … (0 comments)

novato: Paradise Foods Set to Open (Novato, California) - 10/12/09 11:13 AM
Southern Novato will soon benefit from another grocery store — the highly anticipated Paradise Foods is scheduled to open next week, according to the Marin IJ. I drive by the site regularly and sure enough it is looking good. The entire shopping center (on Ignacio, just west of HWY 101), which lost its anchor tenant Safeway last year (Safeway opened its mega-store across HWY 101 at Hamilton Center — it is the best Safeway in Marin, by all accounts), is looking great.
Below is the article from the IJ — note the shameless self promotion near the bottom of the article … (0 comments)

novato: Marin County, CA. Real Estate Update — September 2009 (Homes For Sale & Price Ranges) - 09/21/09 07:11 AM
Marin County, California real estate held steady, for the most part, through Summer 2009. While year over year prices are down across the board no matter how you slice it, many feel as though absent further crisis, we may be nearing the end of the downward cycle — after a full 3 years. Certainly, well priced, updated homes in great locations are selling promptly.
In Northern Marin (a.k.a Novato), 81% of homes priced under $500,000 are in escrow (that’s 39 out of 48 homes!). In San Rafael, 64% of homes priced at or below $600,000 are in escrow. These astonishing sales numbers … (0 comments)

novato: Novato Real Estate Update (September 2009 Home Sales Report) - 09/17/09 10:08 AM
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. … (1 comments)

novato: Novato Real Estate (August 2009 Home Sales Report) - 08/17/09 09:13 AM
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 … (0 comments)

novato: Marin County, CA. Real Estate Update — July 2009 (Homes For Sale & Price Ranges) - 07/30/09 03:10 AM
The Marin County, CA real estate market is a mixed bag. Recent escrow activity levels have been refreshing, if not invigorating. New escrows generated in April – June 2009 represent the three best months since June ’07. This progress seems to be continuing. In fact, we could experience the busiest summer in MarinCounty real estate in recent years.
This increase in activity (not price appreciation) follows the slowest six month stretch we have seen in sixteen years. Closings of Marin County single family homes in the 4th quarter of 2008 (457) was the lowest since 1994. Closings in 1st quarter 2009 (222) and 2nd quarter ’09 (421) both set … (0 comments)

novato: Bel Marin Keys (Novato, California) Real Estate and Homes for Sale - 07/26/09 03:26 PM
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 … (0 comments)

novato: Pointe Marin, Novato, California (Homes & Real Estate) - 07/24/09 04:04 AM
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 … (0 comments)

novato: Hamilton Field, Novato CA Real Estate and Homes - 07/23/09 04:07 PM
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 … (0 comments)

novato: Novato Real Estate Market Update (July 2009 Home Sales Report) - 07/18/09 03:37 AM
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 … (0 comments)

novato: Novato CA Real Estate Market Update (June 2009 Home Sales Report) - 06/21/09 05:04 AM
This month, Novato's absorption rate fell to an unbelievable 3.04 months. That is low. Absorption rates, along with days on market averages, provide a telling insight into the overall state of the market. As I have noted before, value properties can be found in virtually ALL price ranges in Novato. Pricing in most neighborhoods is back to what it was in 2002-2003. Note that available inventory in the entry level price ranges is way down and the percentages of homes in escrow is rising fast. For example, 72% of homes in Novato priced under $500K are in escrow (up from 63% in May 2009); … (0 comments)

novato: Novato CA Real Estate Market Update (May 2009 Home Sales Report) - 05/15/09 03:17 AM
While the pipeline of new properties and overall inventory levels increases dramatically throughout most of Marin County, CA (this is the prime selling season, after all), Novato's inventory level has remained very steady over the past 3 months. Just 151 single family homes are currently for sale. There were 152 homes for sale in April 2009 and 142 in March 2009.
Novato's absorption rate (e.g., the number of months of inventory currently available in Novato) again dipped dramatically. In March, Novato had 7.9 months of inventory, in April there was 6 months inventory, and today there just 4.97 months of inventory. … (0 comments)

novato: Best Location in South Gate, Hamilton Field (Novato CA) - 04/27/09 11:04 AM
This is a special home with immutable qualities not found in other South Gate at Hamilton Field offerings. Most signifricantly, this gorgeous home is on the levee and has no immediate neighbor to the south - very rare.

Unique opportunity to live in Hamilton Field's coveted South Gate neighborhood in the most sought after location - on the levee. Few South Gate homes on the levee have come to market in the past 3 years. The last one that did sold within a couple of weeks. This is your chance!
Great Room configuration. Kitchen with granite tile counters, dual-zone wine … (0 comments)

novato: Highway 101 Commute Times Improved (New North Bound Lane Opened) - 04/26/09 03:11 AM
It's not just Novato commuters who are thrilled with the opening of the extra northbound lane on HWY 101 through Marin, but everyone who heads to Northern Marin for shopping and play. Indeed, the added lane appeared to simply eliminate the entanglement through San Rafael at commute time. And the rest of the day was just as dramatically improved. I drove it twice (Friday afternoon and Saturday morning).
Drivers on Friday, a notoriously horrible north commute the past few years during construction was cut in half. While it's hard to say anything is worth $200 million, this project is certain to please … (0 comments)

novato: Novato CA Real Estate Market Update (April 2009 Home Sales Report) - 04/17/09 10:49 AM
While the pipeline of new properties and overall inventory levels increases dramatically throughout most of Marin County, CA. (this is the prime selling season, after all), Novato’s inventory level remains at a seasonally adjusted low with just 152 single family homes for sale. There were 142 homes for sale in March 2009. Perhaps we are on the back side of the distressed property curve. Meanwhile, the absorption rate (e.g., the number of months of inventory currently available in Novato) dipped dramatically from 7.9 months in March to 6 months today (note: earlier this year, we were down to 4.5 months due … (0 comments)

novato: Novato CA Real Estate Market Update (April 2009 Home Sales Report) - 04/15/09 04:12 PM
While the pipeline of new properties and overall inventory levels increases dramatically throughout most of Marin County, CA. (this is the prime selling season, after all), Novato’s inventory level remains at a seasonally adjusted low with just 152 single family homes for sale. There were 142 homes for sale in March 2009. Perhaps we are on the back side of the distressed property curve. Meanwhile, the absorption rate (e.g., the number of months of inventory currently available in Novato) dipped dramatically from 7.9 months in March to 6 months today (note: earlier this year, we were down to 4.5 months due … (0 comments)

novato: Pointe Marin, Novato CA (Homes For Sale & Real Estate) - 04/10/09 06:14 AM
Pointe Marin is a newer housing development in very desirable Southern Novato. It is located to the west of HWY 101 at the Ignacio exit. Commute times to San Francisco vary, but you can expect a 40-50 minute commute (note that the HWY 101 widening project is set for completion in December 2008).
This neighborhood is quiet, with wide streets and lots of open space. Indeed, many of the homes in Pointe Marin back up to open space and all homes are in close proximity to endless trails, lots of parks, shopping, and transportation. It is also close to the prestigious … (0 comments)

novato: Novato CA & San Rafael CA -- The 2009 50/50 Principle - 03/11/09 07:21 AM
The chart below illustrates the number of, and percentage of, 2009 distressed sales (e.g., REO--a.k.a. bank owned homes and short sales) in Marin Ca.
 
 
Take away from this chart is YTD 50% of the sales in Marin County have been in San Rafael and Novato. Of these San Rafael and Novato sales nearly 50% are distressed sales. In all other cities the distressedcomponent of the market is 17%. If you are thinking of buying or selling in Novato or San Rafael, be sure you carefully square-up who you hire to represent you and what your timeline and expectations are. 
(0 comments)

 
Kyle Frazier, Kyle Frazier , CRS & Marin CA Realtor (Christie's Great Estates | Pacific Union International) Rainmaker large

Kyle Frazier

Kyle Frazier , CRS & Marin CA Realtor

Mill Valley, CA

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Christie's Great Estates | Pacific Union International

Office: (415) 448-1118

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Real Estate information about Marin County, California--Mill Valley, Sausalito, Tiburon, Belvedere, Corte Madera, Larkspur, Greenbrae, Kentfield, Ross, San Anselmo, San Rafael, and Novato. Community descriptions, sales information, and more.


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