Horse Lovers Welcome

November 24, 2008

Novato (located in Northern Marin County, California) is one of the few locations within the Bay Area (and within 30 minutes of San Francisco) where equestrians can roam with relative ease. Indeed, if you spend any time hiking or driving through Novato’s Wild Horse Valley, Mt. Burdell open space, Atherton Corridor, or Pleasant Valley, you are highly likely to encounter horses and their riders enjoying the laid back atmosphere. There are also numerous boarding, instructional, and leisurely riding facilities in Novato. There is even a horseman association (Novato Horseman, Inc.) with several hundred members, which engage in trail rides and social events year round. 

There are numerous horse properties in Novato. They are concentrated in several highly desirable neighborhoods characterized by an overall country feel, including the Atherton Corridor (along Atherton Avenue between HWY’s 101 and 37), Indian Valley, Wild Horse Valley, and on the western side of town.

If you would like a list of all available horse properties in Novato, California, or Marin County, please get in touch with Kyle Frazier, Marin Realtor & CRS, at (415) 350-9440.

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

September 13, 2008

While the past few evenings have brought a chill to the air, the Northern Marin (e.g., Novato) real estate market continues to show some heat. Buyers are focused and seemingly undeterred when it comes to writing offers below asking price–sometime significantly so. Sellers with a need to sell are embracing aggressive pricing. As I have said before, Novato is the land of opportunity for those priced out of Southern and Central Marin–indeed, with interest down under 6% again, those who can qualify for a mortgage are jumping in, along with increasing numbers of investors way of the stock market and bullish on Marin real estate.
 
There are 36 homes under $500,000 (down by 9 from August 2008), and 60 homes under $600,000 (down by 7) 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 6 sales (there have been 19 such sales over the past 3 months). Overall, 31% of homes and condos on the market in Novato are in escrow. The hottest market segment is the under $500,000 price range, although all price bands under $1 million are performing well.

Forty-one Novato homes sold in August 2008–up by 7 from July 2008. These homes averaged about 94 days on market, sold for an average sales price of $681,000 (roughly $356 per sq./ft.). Homes in Pointe Marin, Rush Creek, Indian Valley, and Stonetree continue to get robust numbers of showings and/or interest. In fact several of my Pointe Marin listings have sold in the past month, or so.

Price Range

Total Homes

Pending Listings

Up to $600K

88

43%

$600K - $750K

 63

33%

$750K - $1 mil.

74

26%

$1 mil. - $1.5 mil.

50

12%

$1.5 mil. & Up

31

3%
 
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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Novato Real Estate Market Update (August 2008 Home Sales Report)

August 12, 2008

The Northern Marin (e.g., Novato) real estate market continues to out-pace the Central Marin market in certain price bands. Active listings are abundant. Buyers are focused and seemingly undeterred when it comes to writing offers below asking price–sometime significantly so. Sellers with a need to sell are embracing aggressive pricing. 
 
As I have noted over the past few months, there are several newer homes, under 10 years old, under $800,000 in Hamilton Field. I have a new listing that is exquisite, with a pool, and located in the highly sought after neighborhood of Pointe Marin–asking price $799,000. This is an example the fantastic value available in Novato. New business arrivals at Hamilton Landing are fueling many purchases in Northern Marin as is the new Hamilton Marketplace.
 
There are 43 homes under $500,000 (up from 30 in July 2008), and 67 homes under $600,000 (up by 13) 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 7 sales (there 5 last month). Overall, roughly 23% of homes on the market in Novato are in escrow. Sales, it appears, have continued over the past month, even though Summer tends to be slow for home sales. Certainly, my listings are seeing plenty of activity with dozens of visitors at open houses.

Thirty-four Novato homes sold in July 2008–up by 2 from June 2008, which saw 32 home sales. These homes averaged about 122 days on market, sold for an average sales price of $769,000 (roughly $370 per sq./ft.), and the average sized home was 2,171 square feet. Homes in Pointe Marin, Rush Creek, Indian Valley, and Stonetree continue to get robust numbers of showings and/or interest.

Price Range

Total Homes

Pending Listings

Up to $600K

94

29%

$600K - $750K

 63

35%

$750K - $1 mil.

77

18%

$1 mil. - $1.5 mil.

53

19%

$1.5 mil. & Up

32

3%
 

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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