Novato Real Estate Market Update (February 2010 Home Sales Report)

• 86% of homes priced under $500,000 (67% last month);
• 59% of homes between $501,000 and $600,000 (66% last month);
• 47% of homes between $601,000 and $750,000 (42% last month);
• 43% of homes between $751,000 and $1 million (33%  last month);
• 25% of homes between $1 million and $1.5 million (24% last month);
• 0% of homes between $1.5 million and up.

Best Location in South Gate at Hamilton Field (Novato, California)

(In Escrow 1/16/10) This is a special home with immutable qualities not found in other South Gate at Hamilton Field listings. Most signifricantly, this gorgeous home is sited adjacent to the wetlands restoration project and has no immediate neighbor to the east or north. Even the neighbor to the west is set back — a very rare combination. Located at 94 Maybeck Street, this home features 5 bedrooms and 3 baths (with a bed and bath downstairs), a chef’s kitchen, and a large yard with lots of grass and tasteful landscaping.

Live and thrive in Hamilton Field’s coveted South Gate neighborhood in the most rarely available location (a corner lot on the wetlands). Few South Gate homes on the levee have come to market in the past 3 years. This is your chance!

Great Room configuration. Kitchen with granite counters, chef’s island, breakfast bar, and work station. The potential for four spacious bedrooms upstairs (note that one room, which is very big, does not have a closet) and 3 Baths. Downstairs also has a bedroom and full bathroom. Dining Room with vaulted ceilings, Living Room, Laundry Room, and more. The luxurious Master Suite provides views across the Bayside open space and watershed.

Facts, Features, and Amenities:

• Contemporary home on the levee, set back from the street
• No rear or immediate northern neighbors
• 5 Bedrooms, 3 Baths, 2-car attached garage
• Master Bedroom with his-and-hers walk in closet and large master bath
• Formal Dining Room with vaulted ceiling opens to Living Room
• Chef’s kitchen with island, ample storage space, and granite counters, 5-burner gas range, built-in microwave, breakfast nook and work station, and pantry
• Utility/Laundry Room
• Fabulous views toward The Bay from upstairs
• Gorgeous landscaping with large grassy areas in the front, side, and back yards and mature trees
• Vegetable garden patch
• Fireplace with slate surround and custom mantle
• Media center built-ins in Family Room
• Wired for internet, cable, and phone
• Fire suppression sprinklers throughout home
• Automated landscape and lawn irrigation system
• Backs to open space with direct access to the proposed Bay Trail
• Close to all Hamilton amenities: South Gate Park, Pool, YMCA, Public Library, Art Museum, Café, Hangars, Little League, Soccer Fields, Racquetball Courts, Tennis Courts, Basketball Courts, Hamilton Landing businesses, Hamilton Marketplace, skateboard park, and Gymnasium
• Nearby shopping and dining include the newly opened Hamilton Marketplace including Safeway, Pete’s Coffee, Sonoma Latina Grill, La Boulange, Pasta Moto, and Toast
• Enjoy the quick Southern Novato commute to SF with HWY 101 widening project completed (southbond and northbound carpool lanes both opened)

• Property Address: 94 Maybeck Street Road, Novato, CA 94949
• Listing Price: $842,000

Kyle Frazier, CRS
Christie’s Great Estates | Morgan Lane Marin Real Estate

Novato Real Estate Market Update (July 2009 Home Sales Report)

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 price of Novato homes jumped up to $666,124 in June 2009. This is an increase from $564,770 in May 2009. While there was one $2 million plus sale (an off market sale), which supported this increase in average sales price, even stripping that outlier sale from the equation, the revised average sales price was over $622,000—a strong bump upwards.

We believe that the move up market has begun to find its legs in Novato and that there are definite signs of improvement in this very important market segment. Interestingly, and in line with recent months, the move-up price bands are selling as well as the entry level price bands:

As of today, here are the percentages of homes in escrow in each price band:

Novato CA Real Estate Market Update (June 2009 Home Sales Report)

My prediction relating to phantom buyers (I’ve been talking about this for a year now) has come true. Here it is: there are LOTS of people who sold over the past couple of years and who have waiting for prices to dip. Fortunately for these folks, interest rates, while they are up a point in the past 6 weeks, remain low by historical standards and so buyers are jumping in. Additionally, the first time home buyer credit is helping first time buyers. And finally, I think people are beginning to realize that inflation is coming (along with significantly higher mortgage interest rates). I’ll bet that this time next year, rates will be at least another point higher (somewhere around 6.5%) and seller financing will be gaining popularity.

For an 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 for your neck of the woods or have any questions about Novato’s many delightful neighborhoods, just give me a call at (415) 350-9440. My name is Kyle Frazier, Certified Residential Specialist (CRS), with Morgan Lane Marin Real Estate. It is always my pleasure to be of service.

Now that the the HWY 101 widening project has been completed on both north and southbound lanes, the commute through San Rafael is very much improved. Southbound commute traffic is reduced by about 25 minutes. The improved commute will certainly make Novato a viable choice for those who had sworn it off because of the traffic. Moreover, the first-time home buyer credit of $8,000 (this is a flat out gift from the government) certainly helps those who qualify. As I tell my clients, “Give Yourself a Raise. Move to Novato.”

Best Location in South Gate, Hamilton Field (Novato CA)

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 refrigerator, upgraded appliances, breakfast bar, and work station. 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
• No rear or immediate southerly nieghbors
• 4 Bedroom, 2.5 Bath, 2 car garage
• Master Bedroom with his-and-hers walk in closet and large master bath with views
• Living Room with vaulted ceiling opens to Great Room
• Formal Dining Room
• Chef’s kitchen with island, pantry and black Corian countertops
• Dual-Zone wine refrigerator (36 bottle capacity)
• Utility Room
• Fabulous views toward The Bay
• Gorgeous garden with front and back tile patios
• Wood burning / gas fireplace
• Media unit in Family Room with surround sound wiring
• Internet, cable, and phone throughout house
• Distressed oak flooring downstairs
• Amazing landscaping includes hand crafted rock wall and large grassy area
• Window coverings included
• Pre-wired for alarm and Cat-5 wiring installed
• Pre-cast mantle with raised hearth and media niche with library shelves
• Art niches upstairs and down
• Fire suppression sprinklers throughout home
• 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 (southbond and northbound carpool lanes have both opened within the past two months)

• Property Address: 89 Moore Road, Novato, CA 94949
• Listing Price: $765,000

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

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

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