Novato Real Estate Market Overview, September 24, 2008

Novato Real Estate Market statistics continues to inch upwards in overall sales percentage compare to two weeks ago on September 10,

The overall inventory dropped 10%, from 410 to 370, results of more pending sales and sellers taking properties off the market unless they ‘have’ to sell.  Less inventory will have a positive effect on housing prices as there are less supply. 

The highest increases in pending sales are the starter / investment homes – condo/townhomes and single family residences under $500K – mostly fixers, REOs (bank owned), short sales, all bargains from one or two years ago. 

Both categories, with more than 50% sales, are now a ‘seller’s’ market – or shall we say a ‘bank/REO sellers’s market.  Some enjoy multiple offers, although not as much frenzy as when Marin was at the top of the market.

First time buyers, investors, people who relocated out of areas and want to move back, and the ones who could not afford before but would love to be in Marin are all taking this great opportunity of lower (and relatively affordable) home prices and lower interest rates to test the waters here in Marin.  

Higher end homes are staying stale – difficulty in getting financing, uncertainly about the market, excessive inventory from sellers who do not have to sell (‘not motivated’) can hold the sales down.

My office, Frank Howard Allen Realtors in Novato, is buzzing with sales activities we have not seen in a long times, walk-ins, calls, showings, offers, inspections; a lot of activities which is putting great, positive energy into the office; and hopefully bringing the energy to all our clients!

Best, and stay tuned!

Give me a call at (415) 717-0293 or email me at sylvia@SylviaSellsMarin.com for inventories on the market, whether REO, Trust Sale, start home, luxury homes.. I will be very happy to find the best house / investment property for you! 

It will be a pleasure to serve you!  

category

 

Total Units/ In Escrow

 

% Active

 

% Pending

% +/- since 09/10/08

All SFD’s and CID’s

 

370/123

 

67%

 

33% (N)

+2%

SFD’s

 

269/65

 

76%

 

24% (B)

-2%

CID’s

 

101/58

 

43%

 

57% (S)

+12%

$0 -$500K SFD

 

59/30

 

49%

 

51% (S)

+9%

$500,001-$600K

 

31/6

 

81%

 

19% (B)

-9%

$600,001 – $700K

 

36/11

 

70%

 

30% (N)

-6%

$700,001 – $800K

 

32/6

 

81%

 

19% (B)

-10%

$800,001 – $999,999

 

36/6

 

84%

 

16% (B)

-8%

$1M – $1.25M

 

27/2

 

93%

 

7% (B)

-7%

$1.25M – $1.5M

 

18/1

 

95%

 

5% (B)

-12%

$1.5M+

 

30/3

 

90%

 

10% (B)

+7%

  • Buyer’s Market  < 25%
  • Neutral                25% – 40%
  • Seller’s Market   > 40%
Sylvia Barry, Realtor, ePRO
Marin Realtor for Marin Luxury Real Estate 
Marin, San Francisco North Bay
Frankk Howard Allen Realtors
 
website: www.SylviaSellsMarin.com
Blog: www.AllAboutMarinHomes.com

MARIN, SONOMA, S.F. BAY AREA REAL ESTATE – Beveldere, Corte Madera, Greenbrae, Kentfield, Larkspur, Marinwood, Mill Valley, Novato, San Anselmo, San Rafael, Sausalito, Tiburon; Cotati, Penngrove, Petaluma, Rohnert Park, Santa Rosa.   Starter Home to Luxury Property.  REO (Bank Owned), Short Sale, View Homes, Architecural Distictive Homes. Investment, 1031 Exchange. 

Novato Real Estate Market Overview, September 10, 2008

Novato Real Estate Market statistics stays strong since August 27, 2008; continuing the positive trend since middle of summer, 2008  – Total inventory dropped 24 (434 to 410), while # of units in escrow increased by 8 (from 121 to 129). This is reflected in the % pending – 3% increase since last reported.  Novato Market is definitely inching back – slowly, cauthiously, but surely. 

Condos/Townhomes, where we see the biggest drop in prices due to many short sales and foreclosures, edged past neutral market and is holding steady on the edge of seller’s market. 

Slight improvement of 4% increase in SFDs priced under $500K – some REOs (Real Estate Owned – Bank Owned Properties) or Short Sales are a little rough, requires sweat equity.  As higher quality homes are priced lower and become more affordable, I start to get phone calls for young couples, empty nesters, relocations.  What a GREAT benefit!  

A huge increase in the percent Pending is the starter single family homes priced between $500K and $600K, with an increase of 13% (to 28%) of pending sales – almost neutral.  The next price range of $600K to $700K SFDs, see a drop of 8% compared to the August.  Nice homes priced over $700Ks start to move again, enjoyed a 9% increase in pending sales.

Homes priced over $700K stays went up 10% in pending sales.  $800K to just under $1M, enjoyed 5% increaes in pending sales, while all homes over $1M, stay flat for % of pending sales.  Those Jumbo loans are just so difficult to get!

Do note that a small change in a small sample makes relatively large statement expressed in percentage.   

Give me a call at (415) 717-0293 or email me at if you for details, inventory on the market and what’s the best house / investment property for you! 

It will be a pleasure to serve you!  

category

 

Total Units/ In Escrow

 

% Active

 

% Pending

% +/- since July 23, 08

All SFD’s and CID’s

 

410/129

 

69%

 

31% (N)

+3%

SFD’s

 

298/78

 

74%

 

26% (B)

+4%

CID’s

 

112/51

 

55%

 

45% (S)

+1%

$0 -$500K SFD

 

62/26

 

58%

 

42% (N)

+6%

$500,001-$600K

 

32/9

 

72%

 

28% (B)

+13%

$600,001 – $700K

 

39/14

 

64%

 

36% (S)

-8%

$700,001 – $800K

 

38/11

 

71%

 

29% (B)

+9%

$800,001 – $999,999

 

46/11

 

76%

 

24% (B)

+5%

$1M – $1.25M

 

29/4

 

86%

 

14% (B)

+0%

$1.25M – $1.5M

 

20/2

 

83%

 

17% (B)

+0%

$1.5M+

 

32/1

 

97%

 

3% (B)

+0%

  • Buyer’s Market  < 25%
  • Neutral                25% – 40%
  • Seller’s Market   > 40%
 

Sylvia Barry, Realtor, ePRO
Marin Realtor for Marin Luxury Real Estate 
Marin, San Francisco North Bay
Frankk Howard Allen Realtors
 
website: www.SylviaSellsMarin.com
Blog: www.AllAboutMarinHomes.com

MARIN, SONOMA, S.F. BAY AREA REAL ESTATE – Beveldere, Corte Madera, Greenbrae, Kentfield, Larkspur, Marinwood, Mill Valley, Novato, San Anselmo, San Rafael, Sausalito, Tiburon; Cotati, Penngrove, Petaluma, Rohnert Park, Santa Rosa.   Starter Home to Luxury Property.  REO (Bank Owned), Short Sale, View Homes, Architecural Distictive Homes. Investment, 1031 Exchange. 

How to Achieve Highest Recyclable Collection Rate in Marin County

As a Novato Resident, surrounded by Open Space, Natural Parks, Bay front; we are proud to be the city with the highest recyclable collection and lowest solid waste rate in Marin county.

The distinction can not be achieved solely by residents with good intention without the service provided by Novato Disposal Service

The Novato Disposal Service provides weekly pick ups of Green (Yard) Recyclables and Blue Recyclables (plastic containers, newspaper, bottles, jars, etc), Bi-Annual (spring, fall) large items, large volume and eWaste free-collections which the neighborhoods overwhelmingly participate and look forward to. 

The service utilizes plants with state of the art equipment to sort, accept and reject wastes, ensuring proper waste recycle to allow for most waste being processed.    

Their website provides timely guidance on recyclable plastics, cans, paper products; safely dispose of cooking oil, fluorescent lights, how to pack for lunches to produce the least solid waste; and where to dispose of hazard waste; etc.   

The Novato Disposal team also participates in chamber and school green activities; and Novato July 4th Parade, putting on a great waste collection routine to promote their recycle program.  

The latest improvement for Novato Disposal Service is the new Garbage Trucks they purchased, allowing for picking up both green and blue wastes on the same route; eliminating double pick ups and providing savings on resources (manpower, gas consumption, ozone depletion).

 

Not only is Novato Disposal Service mindful of local recycling programs, they also participate and donate generously to local schools.  They are the annual supporter for the local high school Safe and Sober Grad Night fundraising effort; where the high school helps residents in recycling their Christmas trees in exchange of a small donation to the worthy cause.  For a week after Christmans, the Novato Disposal donates huge derbris boxes and the drivers to transport and dispose of the Christmas trees.

 

For the ECO minded readers, I encourage you to go to their website to learn more about how to properly recycle and save the environment. 

 

Novato Recycling and Reuse Directories

 

Marin Hazardous and Solid Waste Guide

 

 

Novato Disposal Service – Highest Recyclable Waste Collection

As a Novato Resident, surrounded by Open Space, Natural Parks, Bay front; we are proud to be the city with the highest recyclable collection and lowest solid waste rate in Marin county.

The distinction can not be achieved solely by residents with good intention without the service provided by Novato Disposal Service

The Novato Disposal Service provides weekly pick ups of Green (Yard) Recyclables and Blue Recyclables (plastic containers, newspaper, bottles, jars, etc), Bi-Annual (spring, fall) large items, large volume and eWaste free-collections which the neighborhoods overwhelmingly participate and look forward to.

The service utilizes plants with state of the art equipment to sort, accept and reject wastes, ensuring proper waste recycle to allow for most waste being processed.

Their website provides timely guidance on recyclable plastics, cans, paper products; safely dispose of cooking oil, fluorescent lights, how to pack for lunches to produce the least solid waste; and where to dispose of hazard waste; etc.

The Novato Disposal team also participates in chamber and school green activities; and Novato July 4th Parade, putting on a great waste collection routine to promote their recycle program.

The latest improvement for Novato Disposal Service is the new Garbage Trucks they purchased.  hese new eco-friendly split-body vehicles decrease the number of trips through neighborhoods by one-third, while inside two separate compartments keep the materials separate. Collecting two materials in the dual compartment trucks decreased the amount of fuel and energy used, not to mention reduced traffic on highways and neighborhoods.  This allows for picking up both green and blue wastes on the same route; eliminating double pick ups and providing savings on resources (manpower, gas consumption, ozone depletion).

 
Not only is Novato Disposal Service mindful of local recycling programs, they also participate and donate generously to local schools.  They are the annual supporter for the local high school Safe and Sober Grad Night fundraising effort; where the high school helps residents in recycling their Christmas trees in exchange of a small donation to the worthy cause.  For a week after Christmans, the Novato Disposal donates huge derbris boxes and the drivers to transport and dispose of the Christmas tree.  ( Note – Please come back later for 2011 Christmas Tree pick info)
 
For the ECO minded readers, I encourage you to go to their website to learn more about how to properly recycle and save the environment.