South Gate – Paradise Found in Levee Home

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. This is your chance! Great Room configuration. Four spacious bedrooms (all upstairs) and 2.5 Baths. Dining Room, Living Room, Laundry Room, and more. Luxurious Master Suite with views across the Bayside open space and watershed. This home is absolutely move-in ready.

Facts, Features, and Amenities:

• Mediterranean home on the levee
• 4 Bedroom, 2.5 Bath, 2 car garage
• Master Bedroom with his-and-hers walk in closet and large master bath
• Living Room with vaulted ceiling
• Dining Room
• Gourmet eat-In kitchen with island, pantry and black Corian countertops
• Utility Room
• Fabulous views toward The Bay
• Gorgeous garden with front and back tile patios
• Wood burning fireplace with gas starter
• Media unit in Family Room
• Internet, cable, and phone to all bedrooms
• Oak hardwood on first floor
• Dual zone central air conditioning and heat
• Uplighting on landscaping
• Plantation shutters and 2” wood blinds
• Pre-wired for alarm, Cat 5 wiring installed in all rooms
• Pre-wired audio from media center to dining room, master bedroom, 2^nd bedroom, back patio and garage
• Pre-cast mantle with raised hearth and media niche with library shelves
• Art niches
• Fire sprinklers throughout home, garage and closets.
• Automated landscape and lawn irrigation system
• Backs to open space with direct access to the Bay Trail
• Walking distance to all Hamilton amenities: Southgate Park, Pool, YMCA, Public Library, Art Museum, Café, Hangars, Little League, Soccer Fields, Racquetball Courts, Tennis Courts, Basketball Courts and Gymnasium
• Nearby shopping and dining include the newly opened Hamilton Plaza including Safeway, Pete’s Coffee, Sonoma Latina Grill and Toast
• Enjoy a 30-minute morning commute to SF with HWY 101 widening project approaching completion

• Property Address: 78 Maybeck Street, Novato, CA 94949
• Listing Price: $759,000

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If you would like to learn more about this lovely South Gate home on the levee or set up an appointment to see it, please call Kyle Frazier, the listing agent, at (415) 350-9440. 

Kyle Frazier, CRS
Morgan Lane Marin Real Estate

Hamilton Landing and Hamilton Marketplace Win Awards

Projects associated with Novato’s Hamilton Field continue to rack-up recognition — Hamilton Landing (a robust business hub now occupying the former hangers (circa 1930) of the Hamilton military base) and Hamilton Marketplace (a diverse new shopping center with a mega-deluxe-Safeway (and associated gas station), Peet’s, Starbucks, Jamba Juice, banking, restaurants (still to come), pet supplies, and more) were named “Top Projects in the North Bay” by the North Bay Business Journal. Both feature unique architecture and green building elements. Hamilton Marketplace also incorporated solar power.

[Click here for the rest of the article, courtesy of www.MarinCRS.com.]

Marin County Real Estate (December 2008)

Insofar as Marin County goes, the holiday season is not traditionally an active time for home sales–this year is no exception. Inventory is down to 607 homes for sale (we had about 716 last month). Although reports of multiple offers continue–especially on well-priced bank owned properties in Novato–even the foreclosures are sometimes taking a long while meandering to a close. Despite the ongoing financial crisis, interest rates are very attractive and they are being pushed down further for those that qualify. I do feel that there is a large level of pent-up demand that will expose itself in the new year. But, until then, enjoy your families, your friends, and the holidays. 

The graph below breaks down the current number of homes (not including condos) for sale … [Click HERE for the rest of the article, courtesty of www.NorthBayRE.com].

Novato Real Estate Market Update (December 2008 Home Sales Report)

“Unscrew the locks from the doors! Unscrew the doors themselves from their jambs!” Never thought Walt Whitman would appear in a real estate article? Neither did I. Yet, this past year’s real estate market in Novato evokes a poetically disjointed and disarticulated scene from Leaves of Grass. It’s been 20 years since I read the book, but I recall the broad themes carrying despair and hope within and between stanzas of its several poems. Those same themes echo metaphorically within our Novato market.

On the one hand, as prices dip back to 2003 levels for condos and entry level homes, those who bought these properties with 100% financing are often finding themselves well underwater. And those positioned to buy are now snapping up Novato’s value properties at previously unfathomable prices. By way of example, earlier today I e-mailed some clients about a Novato condo they sold  in 2006 for $420,000–it is currently a short sale priced under $200,000. Alternately, the number of Novato’s upscale homes in escrow equates with the rate of the traditionally stronger Southern Marin market. As such, Novato “contain[s] multitudes.” 

Although the number of single family homes on the market in Novato is well down off its high earlier this year–there are currently 172 active single family home listings–there are many outstanding values out there as Sellers now understand and appreciate the need for aggressive pricing. The relatively large foreclosure inventory in Novato continues to deflate values in most neighborhoods. Of course, some neighborhoods have been hit worse than others. However, the general condition and the stringent sales requirements forced upon buyers of these homes continue to repel many buyers who refuse to be bullied or take on potentially expensive repairs. Additionally, the rock bottom pricing strategy often utilized are leading to multiple offer situations which are anathema to many buyers who have no inclination to compete.  

While 2 years ago, there may have been 2-5 homes priced under $600,000 in Novato at any given moment, there are about 10 homes in Novato priced under $400,000 right now. Unbelievable? My investor clients agree that Novato is the “Valhalla of Value” in Marin County.

Certainly, we are seeing young and old alike flocking to Novato where the stringent requirements of lenders can more easily be met as compared to the higher priced communities of Southern and Central Marin. About the same as in November 2008, we currently have 32 homes listed under $500,000 and an amazing 60% of these are in escrow. There are a total of 96 single family homes today priced under $600,000 (with 23% in escrow). At the top end of the spectrum, Novato’s $1 million-plus market has slowed, but still boasts a respectable 15% of homes in escrow–right in line with Novato’s southerly neighbors. 

Twenty-seven Novato homes were sold in November 2008–down by 9 from October 2008. These homes averaged about 103 days on market, were about 1,977 sq. ft., and sold for an average sales price of $608,000 (roughly $320 per sq. ft.). Homes in Hamilton Field, Pointe Marin, Country Club, Rush Creek, and Bel Marin Keys generated the most calls and showings this past month. If you are thinking of buying, please call my office at (415) 350-9440 as I have a long list of people who would like to sell their homes, but are not quite ready to list their home officially.

 

For a brief explanation of the importance of the statistic addressing the percentage of “Pending” listings, click HERE. If you would like me to run the exact numbers on your neighborhood, just give me a call at (415) 350-9440. It is always my pleasure to be of service.

Marin County Real Estate (October 2008)

… [A] bona fide enthusiasm exists in the voices of people of who have been waiting to buy while prices moderated or dropped (depending on the area they are looking in). They are excited because they have suppressed their prior urges to buy and think now is the time. 

My listing inventory has dwindled to just one home as all have sold in the past couple of months or are now in escrow (one listing had 3 offers). Marin-wide, the number of homes for sale in the HWY 101 corridor stands at 750 (down from 756 in September 2008). As noted above, reports of multiple offers continue–the most likely targets are aggressively priced Southern Marin homes in good locations and bank owned properties in Novato. And even though the number of homes sold has decreased this year, sellers are holding fast to their prices (particularly in Southern Marin). While interest rates are generally creeping upwards, they remain at historically low levels…

[click HERE for detailed analysis provided by NorthBayRE.com]

Novato Named “Best Affordable Town”

As reported in the Marin Independent Journal, Novato, Marin County (California)was named by Business News magazine as one the nation’s “Best Affordable” towns near a major and expensive metropolis–in this case, the San Francisco Bay Area. Numerous factors went into the analysis including housing prices (averaging a relatively affordable $750,000 in Novato in November 2007), crime rates, schools, unemployment rates, commute times, shopping, and entertainment.

Indeed, with lots of newer homes at prices far lower than the home prices in towns located just 10 miles south (e.g., 10 miles closer to San Francisco), Novato has long represented a major value. Recent years have brought many former residents of Southern Marin to Novato as retirees downsize and transfer their tax base under Proposition 60 and young families looking for more homes that can accommodate growing numbers. Novato also has abundant horse properties, waterfront living with access to the Bay, and a robust luxury and ultra-luxury housing market (something for everybody).

Novato’s schools are also top-notch. It is home to the highest scoring school in Marin County–Rancho Elementary. The offices at Hamilton Field include numerous businesses and is the future home to a Disney production venture. Downtown Novato (Grant Avenue) has evolved into a robust shopping location with something for everybody, including some very good dining options. Below are some facts as noted in the Marin IJ online.

NOVATO AT A GLANCE:

• Population: 51,518
• Size: 28 square miles, including 3,600 acres of open space
• Median home cost for 2006: $816,000
• Median annual household income: $75,445
• School district: Serves more than 7,600 students, kindergarten through high school with nine elementary, three middle and three high schools. College of Marin’s Indian Valley campus serves some 1,000 students.
• Shopping: Vintage Oaks shopping center includes more than 50 stores; downtown Novato includes numerous small specialty stores and boutiques received more than a $10.7 million face lift in 2003 to upgrade Grant Avenue.
• Incorporated: 1960 as Marin’s northernmost city.

Other key facts:

• The Buck Institute for Age Research, one of the world’s foremost nonprofit, independent biomedical research firms, is located in Novato
• The Chosen Family hippie commune lived in the old Burdell mansion at Olompali State Historical Park in Novato until it burned down in 1969. Janis Joplin and the Grateful Dead played there.
• Olompali State Historical Park is named for a key Miwok settlement, Olemaloke, that dates back to 1300. The Bear Flag Rebellion, which led to California’s statehood, was fought at Olompali in 1846.
• Mount Burdell at 1,558-foot elevation, is the highest peak in Novato and overlooks the Petaluma River and San Pablo Bay.
• Novato claims its share of rock-star talent, including Metallica’s James Hetfield, Journey’s Jonathan Cain and Tom Johnston of the Doobie Brothers.

Waterfront Lifestyle in Bel Marin Keys

Amazing one-level, waterfront home in Bel Marin Keys, Novato. Boat dock with easy access to the Bay and beyond. Vaulted ceilings, large windows and multiple sliding doors with wide open views to Bel Marin Keys’ highly desirable south lagoon. Open floor plan with spacious Master Suite (opens to lagoon), formal dining room, outdoor breakfast nook, Great Room styled open Kitchen/Family Room, Living Room, formal entryway with double doors, large and private back yard. Lots of recent improvements.

• Property Address: 1116 Bel Marin Keys Blvd., Novato, CA 94949
• Listing Price: $849,000

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If you would like to learn more about this lovely waterfront home or set up an appointment to see it, please call Kyle Frazier, the listing agent, at (415) 350-9440. 

 

 

Kyle Frazier, CRS
Frank Howard Allen Realtors

Poolside Paradise in Southern Novato (Pointe Marin Home For Sale)

Imagine yourself sitting by the pool with a frosty Mai Tai, a warm summer afternoon breeze fluttering the pages of that novel you’ve been waiting to read, with banana palms waving softly above you.

Pointe Marin pool homes rarely come up for sale — at this price, this gorgeous home will not be around for long.

Welcome to 80 Oak Grove Drive in Pointe Marin, located in a small community of newer homes in highly desirable Southern Novato. Secluded, yet conveniently located within easy walking distance to today’s necessities and a 2 minute drive to HWY 101 and the highly sought-after Southern Novato commute.

• 80 Oak Grove Drive, Pointe Marin, Novato (Marin County, California)
• List Price: $799,000
• 80oakgrove.com —> for more pictures and details

For more information and/or a private showing, please call Kyle Frazier, Marin Realtor & CRS, at (415) 350–9440.

Pointe Marin Hideaway (Ultimate Upgrades — Amazing Price in Southern Novato)

Picture a cozy cottage nestled among the rolling hills–welcome to Pointe Marin’s Hideaway neighborhood. Secluded, yet conveniently located within easy walking distance to today’s necessities and a 2 minute drive to HWY 101 and the highly sought-after Southern Novato commute. 

This immaculate Craftsman Style home with a Great Room configuration, was built in 2002 and sits on a peaceful cul-de-sac near parks (literally around the corner), trails, shopping, restaurants, banking, transportation, and more. It possesses all the benefits of modern construction, but retains a palpable old fashioned comfort and warmth. The many unique amenities include: hickory floors upstairs and down; sumptuous cherry cabinetry in the Kitchen; tasteful and expensive window coverings (including electronic blinds for the high windows in the family room); French Doors to the back yard; air conditioning and central heat; an efficient dual-zone climate control system; multiple built-in shelving and cabinets; overhead fans in all bedrooms and the office; and a convenient upstairs Laundry Room. Additionally there is a guest suite downstairs with its own bathroom. This home also features a sizable office with double doors.

Address: 65 Hollyleaf Way, Pointe Marin, Novato (3 Beds + Office, 3.5 Baths)

Listing Price: $719,000

If you have any questions about this lovely home, call Kyle Frazier, Certified Residential Specialist (CRS) and Marin Realtor at (415) 350-9440.

Novato Real Estate Market Update (October 2008 Home Sales Report)

We had drizzle of rain last week and today is blustery and cold. Autumn is definitely sinking in. Yet, despite the apparent problems faced by many around the country, the Novato real estate market is teetering on “hot.” Buyers are focused and seemingly undeterred (especially when it comes to writing offers below asking price–sometime significantly so).

Sellers with a need to sell are embracing aggressive pricing measures as foreclosures continue sapping equity from neighboring homes. As I have said before and I will say again, Novato is the Valhalla of value in Marin. And those whose financial situations don’t support a run at the higher priced homes of Southern and Central Marin are flocking to Novato. Although interest rates are bouncing up and down on a daily basis (literally), those who can qualify for a mortgage are moving in (literally). We are definitely seeing investors moving out of the stock market and into the bullish realm of Novato real estate.

There are 34 homes under $500,000 (down by 2 from September 2008) and 43% of these are in escrow. There are a total of 86 homes under $600,000 currently on the market. At the other end of the spectrum, Novato’s resurgent semi-luxury market ($1 million to $1.5 million price range) posted another 5 sales (there have been 24 such sales over the past 4 months). Overall, an astonishing 53% of Novato condos are in escrow. But, the most surprising market segment is the $600,000 to $750,000 price band with 27% of homes in escrow. This price band has been sluggish through much of the year.

Forty-six Novato homes sold in September 2008–up by 5 from August 2008. These homes averaged about 139 days on market, sold for an average sales price of $715,000 (roughly $338 per sq./ft.). Homes in Pointe Marin, Rush Creek, Bel Marin keys, and San Marin continue to get robust numbers of showings and/or interest.  

For a brief explanation of the importance of the statistic addressing the percentage of “Pending” listings, click HERE. If you would like me to run the exact numbers on your neighborhood, just give me a call at (415) 350-9440. It is always my pleasure to be of service.

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