Marin County Bank Owned / REO / Foreclosed Homes as of 07/16/09

MARIN COUNTY BANK OWNED / REO / FORECLOSED HOMES

UPDATED 07/16/09 (last updated 06/06/09)

By Popular Demand … Thanks for emailing… Here is the updated report as requested!

Due to strong demand from my past and current clients and the interest from the prospective clients, I am providing you with list of current Bank Owned (REO – Real Estate Owned, and Foreclosed) homes.  The list will be updated freqeuently depending on relevant activities.  

(Word of Wisdom from your Realtor –  In addition to REO (Bank Owned) properties, there are GREAT Deals out there if you look hard enough.  I will be able to help you to find the best property for you in Marin and Sonoma county, Bank Owned or Not!  (O.K. I still have to work on the new Blog ‘Tale of a Short Sale’, but there are other priorities)  

The towns included in this list are Marin County towns South Marin, Central Marin, North Marin and West Marin (yes, we even have a few in South, Central and West Marin).  Specifically: Belvedere, Bolinas, Corte Madera, Dillon Beach, Fairfax, Greenbrae, Kentfield, Lagunitas, Larkspur, Mill Valley, Muir Beach, Nicasio, Novato, Marin County, Olema, Point Reyes Station, Ross, San Anselmo, San Geronimo, San Rafael, Sausalito, Stinson Beach, Tiburon, Tomales

Single Family Homes, Farms and Ranches are in one link; and Condos/Townhomes are in another link.  Note that the link expires in 30 days (Per MLS rule).

Marin County Bank Owned Single Family Homes   Marin County Bank Owned Single Family Homes (Updated 07/16/09)

It has been 1 and 1/2 months since I last (06/06/09) posted Marin REO proeprties – taking care of my clients tends to get in the way of posting online.  However, never hestiate to email me if you need current info.

The Marin housing market is heating up again, as evident in the new ‘sellers’ market.  Lack of supply and increasing demand play a big role in that – Economics 101, I am sure.  This can be attributed to a few reasons:  Continuing interest in first time homebuyers taking advantage of the up to $8,000 tax credit from the government, interest rates stay historicacl low, including the new friendly Jumbo ($729,000 in Marin county), consumer believing the market has hit the bottom (as evident by many multiple offers), the lenders are required to hold of for an additional 90 days before starting the foreclosure process – allowing distressed homeowners the opportunity to work out their loans with the lenders – we have heard quite a few successful loan modifications), short sales are getting easier to approve, less stress for buyers, and much more.  

And 1 and 1/2 months later, the famous, but accurate remark of: “The Bottom of the Market is Hindsight”   Don’t be the one who missed out on the opportunity.

Changes between 06/06/09 and 07/16/09!  for Single Family Homes

66 Totals!

  • 19 Active – Rumor had it and now Luxury REOs are finally on market.  Vacation at home with Bay and Mt. Tam views in Sausalito – speaking of breathtaking views!  check out that 178 Santa Rosa Avenue.  Belvedere REO? with stunning water view, small but sure

        ~ Continue watching for outstsanding properties on REO list! ~

  • 29 Pending (Contingent, Pending) a gorgeous home in Larkspur – 5 Wittshire Avenue, inescorw just after 3 days; 1190 Cambridge (short sale at $470K, now REO at $372,900) in escrow after 2 days, probably multiple offers too!  On the other hand, a major fixer (or tear down) in San Anselmo, first priced at $1,350,000 went into escrow when it was reduced to $1M in May. 
  • 18 Sold since 06/06/09 – Remember that super hot deal on Sun Lane? Sold for  $710K (12.72% over asking) ALL Cash. One of those, no offers, but then suddenly many offers came in.  A Shea Home in Pointe Marin closed in 21 days for $855K (last sale in 06 for $1,150,000)

Changes between 06/06/09 and 07/16/09 for  Marin County Bank Owned Townhomes / Condos  

54 Total Listings – 

Questions about the current market? a specific property? The Incentive?  Ready to Buy? Ready to Learn?  Call your trusted Realtor to give you personalized updates...

_________________________________________________________

Sylvia Barry, Realtor, ePRO
Marin Realtor for Marin 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. Chinese Realtor.

 

Novato July 4th Parade, Marin County, CA

I have never been ‘IN’ the Novato July 4th parade before.  A few times I was there, I was a bystander, watching for my then young sons marching down Old Town Grant Avenue as part of Novato Summer Music Institute Marching Band.  It was fun watching them, but I had never be IN one before.

Yesterday, I got the taste of actually being in the Parade while riding the truck with the Penguin Empire Robotics Team (San Marin High School Robotics Club).  I have to say that it was a lot of fun riding with the students, pretending that I was helping (yes, they knew exactul what to do). and waving to the bystanders (now that I am in it, I might as well enjoy the parade!)

The parade drew record entries and recrod crowds – presumably the difficutl economy kept a lot of people home during the summer; but being in Marin for the summer can not really be considered a hardship, I have to say.  

There were over 200 entries; including the perennial entry of fleet of antique tanks and military vehicles (a private collection, can you believe that?), basset hound parade and they are very serious about that (yes, hundreds of them and their proud owners – brings smile to my face everytime I think about that), MY personal favorite is the Pini Hardware Plunger Brigade, this year, with an automatic toilet built by Penguin Empire adviser Mike Sousa (I think Pini Hardware did the garbage can routine one year), many student groups – the Novato Summer Institute, Five Charming Lads from San Marin, San Marin Jazz Choir, Marin Summer Theater, Novato Unified School District, Various Novato schools and Novato School Fuel thanking Novato for passing Measure A+ for Kids campaign, dace clubs, Taken do clubs, anti-tax protesters, archers, musketeers, Coast Guard Strike Team, and much more.

It’s also fun to see so many friends and neighbors out there watching and enjoying the parade.  Novato, a town of 50K+ population, a lay-back and very friendly town can seem so small and personal where we seem to know everyone and care about everybody!

Oh, not to forget about the Penguin Empire Team – the students did great and the crowds were awed by the awesome robot whenever we stop (we did stop a lot more than we were allowed to).  The students remotely controlled the robot, drove it down the ramp, made some tight turns, performed a couple of routines (unfortunately, due to the crowd, we were not able to show the full potential of the robot) and drove it back up the float.  The crowds were quite enthusiastic about the robot and the team 🙂  

Here are a few picturs to share with you (Sorry, I was too busy to be IN the parade and did not have time to take as many picturers as I have liked!):

Penguin Empire Pre-Parade

2009 July 4th Parade MST 2

Pini Hardware Plunger Brigade

Parade 3

Parade 2

Parade 4

Parade 1

Parade 5

And the Parade is not complete without the viewers cheering us on!

Parade 6

9 Fabulous New Luxury Homes on Olive Court. Novato, Marin County

9 Fabulous New Luxury Homes on Olive Court, Novato, Marin County

Please make appointments with Sylvia Barry or your Realtor if you want to see these new Craftsman Style Homes located on Olive Court in Novato.

Millworks Novato Grand Opening brings New Dimension to Town!

mw_logo_rgbA controversial project due to the sheer size, the location and what it is and what it is not (a bit vague?  Ask me!), Millworks Novato had it’s grand opening today (April 25th).  What a pleasant surprise the development is!

As a Novato resident and a Realtor; although I missed the design, approval phases of the project; I, as many Novatans,  have watched with great interest and concerns in the progress of the building.   Today, I got to tour Millworks with my friend, Barbara.  We came away quite impressed!

Millworks – According to the developer, Millworks Novato is “Nestled among the North Bay’s rolling hills landscape, charming Old Town Novato is the home to Millworks, and environmentally sustainable and pedestrian-friendly new home community”. 

Millworks Novato

Millworks Novato

The building, sits atop the coming-soon Whole Foods,  located at the east end of Old Town Novato, consists of 124 flats and townhomes.  The homes are designed to be a combination of 1 bedroom/1 bath, 2 bedrooms/2 baths flats and 2 bedrooms/2 baths plus Den Flats. 

Amentities — Other than a few larger units on selected locations; first and second floors are mostly for Whole Foods and parking for Whole Foods and third floor is mostly for residents parking.  In addition, there is a library, a fitness center and a social room for gatherings.

millworksinterior

'Roof Garden - Living Roof' on 4th Floor

Roof Garden – One of the Millworks’ most unique design is the rooftop garden on the 4th floor where the interior units all have patios on the ‘Roof Garden’.  This Living Roof – centrally located with open sky courts – have living gardens and flag stone patiors, gives the 4th floor residents a sense of being on the ground floor which is a very appealing, surprising feature!

Views Galore – For outdoor lovers, the floor to ceiling windows brings tons of sunshine and the breathtaking surrounding Novato hill views inside.  I can only imagine how beautiful the night time views will be with the twinkling lights from the distance.

Kitchen and Living Room

Kitchen and Living Room

The Interiors – Millworks have open floor plan where kitchen opens into living and dining rooms (area – depending on plan).  Kitchens have granite slab counter tops, break fast bar, Bosch stainless steel, Energy Star appliances, Kohler sinks and faucets.  Bathrooms have Kohler faucets, Marble slab counters and surrounds on bathtubs.  Dual flush toilets conserve water.   All units are equipped with air conditioners (although I always say that we really don’t need that in Novato – the breeze from the ocean cools down most hot days by night).  Schlage hardware, recessed lighting, sustainable flooring, cable ready.

Green Features at Millworks

Green Features at Millworks

Building and Living Green – Millworks is also designed with ‘Building Green’ in mind as Sustainable is a big concern for environmental minded Marin Residents.  The building is designed with

  • Money Saving features such as emergency efficiencies while determining the direction of the building (South facing), insulation grades,  dual paned windows, doors, Energy Star appliances..
  • Preserving Health – such Cabinet doors are free of formaldehyde, none-toxic and low VOC Materials are used throughout
  • Environmentally Sustainable– Pre-engineered lumber, waste recycling during construction, Build-in recycling centers, sustainable flooring’s and cross ventilation windows are some example of the environmentally friendly design.

The Units and Pricing – One Bedroom / One Bath unit (812 sf to 883sf) starts from the low $400,000s; Two Bedroom / Two Baths Flats (1260 sf to 1360 sf) starts from the mid $400,000s and the Two Bedrooms, Two Bath plus Den Falts (1452 sf to $1595sf) starts from the high $500,000.  

HOA Fees – HOA fees ranging from $393 to $494 monthly.  An interesting chart provided by Millworks compares  HOA fee to the average single-family detached homowner’s regular maintenance cost per year, and of course, Millworks HOA seems more reasonable according to the chart – email me if you are interested!

Keep in mind the price includes standard features, and any and all upgrades will be additional costs to the buyers.

As a baby boomer and looking forward, I thought this will be a great place to retire – low to no maintenance, single story (elevator up/down), walk to town, new, green building, etc.  Having a Whole Foods downstirs works well also.   However, as a  young, single professional living in Chicago many years ago, I also enjoyed staying in downtown highrise for the amentities it provides (Millworks is not close to the 45th floor I was on before).  

Releases – The current plan the developer has is to release 10 homes at a time while gauging the interest ,control inventory and proper pricing. 

Tax Credit – And don’t forget the Federal First Time Homebuyer Up to $8,000 Tax Credit as well as the California State Up to $10,000 Tax Credit for purchasing new contrustions !

Interested in Checking out Millworks? – I enjoyed my visit to Millworks with Barbara.  Let me know if this stirs up your curiosity.  Please give me a call (415) 717-0293 or email me at sylvia@SylviaSellsMarin.comif you want to check out Millworks.  I would love to come with you and get your input about the building that changed the face of Old Town Novato, For Better For Worse, and hopefully, since it’s already here, we will make it ”For Better’ because that’s the only way we can all benefit! 

bg1a6

Novato Real Estate Market Overview, April 01, 2009

Millworks Novato

 Millworks Novato (going strong with a lot of interest -check with Sylvia to see)

Novato Real Estate Market started to pick up after the gloomy winter – Yes! (by the way, is there such a thing as gloomy winter in Marin?  – we are so spoiled, when there are more than a drizzle and a little bit of wind, we complaint about the weather and then secretly congratulate ourselves for being in such a wonderful place – there is a premium there :-))

Thanks to the press, both prnt and online and yes, the Obama Stimulus plan, the buzz out there is this is a great time to BUY in Marin county.  Finally, we have affordable prices (o.k. affordable is a relative term), but more affordable houses here in Marin.

The condo/townhome cotinue to pick up pace, as well as the below $500K single family homes.  These are the ones that went thru the worst downturn and were the ones who led the short sale / foreclosure pact, but are now being recognized as the best purchases in town.  

Many former renters find it costs them less to own than to rent; in the mean time, they are able to enjoy the write offs from owning a home. 

That buzz drives the market right above it to go up.  ‘Starter’ homes up to $700,000 saw across board increases in % Pending.  Being able to sell the condos and entry level homes means they can also move upward.  

This allows the $500K – $700K homes to see the biggest surge in % pending. 

The $800K and up range still lag behind – many are waiting for lenders to come up with the policy for Super Jumbo (between $625K and $729K) pricing structore.  Other move up buyers have their homes on market, are relunctant to ‘buy contingenty upon sale’ are hoping to sell and move into upper end houses here in Novato.  

Overall inventory starts to climb, as we expect it to be in Spring.  Homes for sale went up 25 homes, from 305 to 330 in a month (March to April). With the slower release of foreclosures, the inventory is not growing as much as we thought it would.   

Make Sure You are not waiting for the ‘bottom’ of the market. Remember, that is always hindside, by the time you look back, the bottom has already came and went. 

Call Sylvia now to discuss the market and the trend, get familiar with the buying process, and start hunting.  It’s never too late to get ready.     

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 my pleasure to serve you!  

category   Total Units/ In Escrow   % Active   % Pending % +/- since 09/10/08
All SFD’s and CID’s   330/120   64%   36% (N) +1%
SFD’s   231/75   68%   32% (N) +2%
CID’s   99/45   55%   45% (S) +0%
$0 -$500K SFD   64/34   47%   53% (S) +2%
$500,001-$600K   35/15   57%   43% (N) +15%
$600,001 – $700K   27/10   63%   37% (N) +9%
$700,001 – $800K   28/7   75%   25% (N) -2%
$800,001 – $999,999   35/2   94%   6% (B) +2%
$1M – $1.25M   18/2   89%   11% (B) -2%
$1.25M – $1.5M   14/3   79%   21% (B) +3%
$1.5M+   10/2   80%   20% (B) -13%
  • Buyer’s Market  < 25%
  • Neutral                25% – 40%
  • Seller’s Market   > 40%

 

 

Coveted Vineyard Area, Upscale Home on 1/3 Acre Creekside Lot, Open Sun 1-4PM

 
Sylvia Barry | http://www.SylviaSellsMarin.com | (415) 717-0293
2197 Vineyard, Novato, CA
Coveted Vineyard Area – upscale, remodeled singled story home located on premium 1/3+ acre creekside level lot. Pool, Hottub. Great for Entertainment. Must See Inside.

Property Website:www.2197Vineyard.com

Contact Sylvia for Showing at (415) 717-0293 or email Sylvia Barry www.SylviaSellsMarin.com

Search and Save Homes for Future Review? Click to Search for Marin County Homes

4BR/2.5BA Single Family House
 
offered at $949,000
Year Built 1955
Sq Footage 2,538
Bedrooms 4
Bathrooms 2 full, 1 partial
Floors 1
Parking 2 Car garage
Lot Size 16,150 sqft
HOA/Maint $0 per month
DESCRIPTION

Desirable Vineyard area, Pleasant Valley school!Upscale Remodeled and expanded single story home on over 1/3 privavte level creekside acres.Living/Dining room with decorative woodburning fireplace. Expansive floor to ceiling sliders frames the gorgeous views and brings outside in.Remodeled Kitchen with breakfast nook has gorgeous granite slab counters, center island, Stainless steel appliances, beautiful cabinetry.Dramatic new master suite with vaulted ceilling and frech doors looking into amazing backyard. Master bath with limestone tile, modern sinks, separate show and soothing soaking tub.Entertain with comfort & style both inside and outisde, under the giant walnut tree or sunny pool side.Close to hiking, biking, horseback riding, stafford lake, O’Hare park. Easy access to west Marin beaches.
 
see additional photos below
PROPERTY FEATURES

Central heat Fireplace High/Vaulted ceiling
Walk-in closet Hardwood floor Tile floor
Living room Dishwasher Refrigerator
Stove/Oven Microwave Granite countertop
Stainless steel appliances Attic Washer
Dryer Laundry area – inside Balcony, Deck, or Patio
Yard Swimming pool Jacuzzi/Whirlpool
COMMUNITY FEATURES

Garage parking Guest parking Storage space(s)

 

ADDITIONAL PHOTOS

Seller contact info:
Sylvia Barry
For sale by agent/broker

 

Equal Opportunity Housing
Posted: Jan 10, 2009, 6:28pm PST

Sylvia Barry, Realtor, ePRO
Marin Realtor for Marin 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.

Make Dreams Real – Rotary Club of Novato Sunrise Youth Services

Marin County Bank Owned (REO) Homes – Take Advantage Now!

This is one of the very rare times in history where there are bank owned homes in Marin county, coupled with low interest rate; definitely a great time for buyers to take advantage of the current buyers market, even in Marin county.

marincountyreoI  have many clients who asked me about Bank Owned (REO – Real Estate Owned) properties in Marin county.  Although Rare in comparison to other counties in California, we are seeing more bank owned properites in Marin county with the majority in Novato, then San Rafael, and trickle down to Southern Marin county.
Several of my clients have taken the opportunity and bought bank owned homes, a couple are listed on multiple listing, and one bought before the house went on multiple listing from an investor associate of whom I have built a nice working relationship with. 
A sample of currently bank owned properties are listed below – 
One unit in Belvedere, Tiburon Area  Belvedere, Tiburon, Marin County Bank Owned – Extremely desirable area, and will normally have no foreclosured properties, but there is a very special reason for this  low price/bank owned in such desirable area – ask me for details. 
One unit in Corte Madera, Larkspur area – Corte Madera, Larkspur, Marin County Bank Owned
None in Greenbrae, Kentfield – Not too surprisingly that there are no bank owned home in Kentfield, Greenbrae area considering we just had 12 offers on a basically tear down house (Trustee Sale) all because of the highly desirable location for Greenbrae, Kentfield 
None in Ross – Same reason as Greenbrae, Kentfield on why there is NO Bankowned in Ross
None in Mill Valley – Same thing about Mill Valley Bank Owned – None in such desirable area.
3 Bank Owned properties in San Anselmo – A little west, but still short commute to the city, full of charm and character, a town you don’t want to miss!
21 bank owned proeprties in San Rafael – fabulous time to buy in San Rafael – these bank owned properites in San Rafael are from Canal area, Terra Linda, Spinnaker Point, Santa Venetia area, Civic Center area, all the way to Gerstle Park.  Homes are condos, contemporary homes, Eichler homes, newer constructions, you name it!  
26 in Novato – Novato is the north most city in Marin County.  These bank owned properties in Novato, Marin make Novato a ‘relatively’ affordable place to live now.  Several condos have restricted usage, a couple are in flood zone, some have higher HOA fees, but most of the others are excellent buys – many are gobbled up with multiple offers – make sure you don’t wait for competition if you are interested in any of these properties.
And there is even ONE in West Marin Muir Beach Bank Owned Homes just waiting for you to finish it up…..
My hope for 2009 is that the homeowners who own distressed homes will be able to take advantage of the government’s bail out plans and avoid foreclosures…….
This means there will not be as many foreclosure properties as forecasted, and that’s a good thing in my book…. So, take advantage of today’s foreclosure inventories to set your foot in Marin County! 
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 Biweekly Overview, October 22, 2008

Stafford Lake County Park, Novato, CA

Novato Real Estate Market statistics stays pretty flat overall with a small 4% increase in pending sales compare to a month ago on September 24. 

The ratio is held steady by dwindling inventory – overall inventory dropped by another 10%, from 370 to 348; again due to more pending sales and either sellers taking properties off the market or waiting for the market to move upwards before they sell.   

The highest increases in pending sales again, is the starter single family homes priced under $600K, with up to $500K at 41% and $500K to $700K at 30%; mutual to slightly sellers market – mostly fixers, REOs (bank owned), short sales, all bargains from one or two years ago. 

This is a great time to buy, with bargains abound, whether it’s in Novato, San Rafael or Southern Marin.  Bank owned homes or sellers with plenty of equity are pricing homes low to attract multiple offers. 

One house in Kentfield, priced lower than normal, generated 12 offers.  Think about the other 11 who did not get accepted that are circling for well priced (or bargain basement priced) homes, ready to pounce when they finally find one. 

Higher end homes are staying stale – many move-up buyers need to sell their homes in order to buy are relunctant until their house is sold in this market.  

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

 

348/102

 

71%

 

29% (N)

-4%

SFD’s

 

256/59

 

77%

 

23% (B)

-1%

CID’s

 

92/43

 

53%

 

47% (S)

-10%

$0 -$500K SFD

 

66/27

 

59%

 

41% (S)

-10%

$500,001-$600K

 

27/8

 

70%

 

30% (B)

+11%

$600,001 – $700K

 

27/8

 

70%

 

30% (N)

+0%

$700,001 – $800K

 

36/7

 

81%

 

19% (B)

+0%

$800,001 – $999,999

 

31/3

 

90%

 

10% (B)

-6%

$1M – $1.25M

 

24/4

 

83%

 

17% (B)

+10%

$1.25M – $1.5M

 

24/0

 

100%

 

0% (B)

-5%

$1.5M+

 

21/2

 

91%

 

9% (B)

-1%

  • 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 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, as of August 27, 2008

Changes since July 23rd, 2008 for Novato Real Estate Market – Total inventory dropped by 10 while units for pending sales remains the same at 28%.  The total market at a glance stays at the lower end of being Neutral tilting towards the buyers market (defined as pending sales is less than 25%).

Condos/Townhomes, where we see the biggest drop in prices due to many short sales and foreclosures, edged past neutral market and stays periosly on the sellers market.

Slight drop of 5% 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 experience price drops and become more affordable, the lowest priced home saw some impact. 

Big swing in the pending is the starter single family homes priced between $500K and $600K, with a drop of 12% on pending sales while the next price range up of $600K to $700K SFDs, has a gain of 10% compare to the July report.  Due to the softening market, nice homes priced over $700Ks dropped below $700K and becomes a great buy.     

Homes priced over $700K stays within +/- 5% variance from a month ago, other than $1.25M to $1.5M which saw a 9% increase – for units out of 23 units went into escrow.  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 sylvia@SylviaSellsMarin.com 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!  

Give me a call (415) 717-0293 or email me  at sylvia@SylviaSellsMarin.com for details, inventory on the market and what’s the best house / investment property for you!  It will be a pleasure to serve you!  

Sylvia Barry, Realtor, ePRO
Marin, Sonoma Realtor
www.SylviaSellsMarin.com

category

 

Total Units/ In Escrow

 

% Active

 

% Pending

% +/- since July 23, 08

All SFD’s and CID’s

 

434/121

 

72%

 

28% (N)

+0%

SFD’s

 

315/69

 

78%

 

22% (B)

-2%

CID’s

 

119/52

 

56%

 

44% (S)

+5%

$0 -$500K SFD

 

70/25

 

64%

 

36% (N)

-5%

$500,001-$600K

 

33/5

 

85%

 

15% (B)

-12%

$600,001 – $700K

 

39/17

 

56%

 

44% (S)

+10%

$700,001 – $800K

 

37/3

 

92%

 

18% (B)

-4.5%

$800,001 – $999,999

 

52/10

 

81%

 

19% (B)

+2%

$1M – $1.25M

 

29/4

 

86%

 

14% (B)

-3%

$1.25M – $1.5M

 

23/4

 

83%

 

17% (B)

+9%

$1.5M+

 

31/1

 

97%

 

3% (B)

-3%

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