Novato, CA

Novato Foreclosures List - Single Family Homes For Sale

"Your complete source for Marin foreclosure listings."

September 21, 2009

Please click this link to view ALL bank-owned (REO) properties currently on the MLS. These are "active" status and listed as available for purchase.

NOVATO FORECLOSURES: SINGLE FAMILY HOMES (5 total)

TO SEE any of these properties, or for more information, please contact Kevin by phone or email:

kmcginnis@fhallen.com or (415) 725-1911

Search the entire MLS... go to BestHomesMarin.com

Novato Short Sale List - Single Family Homes For Sale

"Your complete source for Marin short sale listings."

September 21, 2009

What is a short sale? It's where the sellers owe more on their mortgage than the house is now worth, so they must ask the bank to accept less when they sell. These are often "pre-foreclosure" properties. The major banks are starting to see the light, favoring and encouraging short sales versus foreclosures. That's good news for everyone, including buyers because it should shorten the buying process. Now, a typical short sale can take 2-4 months to close.

Short sales can present a great opportunity for home buyers because the seller's emotion is taken out of the equation, and the price becomes all about market value based on recent sales (and not what the seller "needs" or "wants" to make on the sale.)

Please click this link to view ALL Novato short sale properties currently on the MLS. These are "active" status and listed as available for purchase.

NOVATO SHORT SALES: SINGLE FAMILY HOMES (21 total)

TO SEE any of these properties, or for more information, please contact Kevin by phone or email:

kmcginnis@fhallen.com or (415) 725-1911

Search the entire MLS... go to BestHomesMarin.com

I have written in past months about the high level of competition in Novato, California’s entry level real estate market. This trend continues into Q3 2009. In August 2009, 38 Novato homes sold. This is down from 47 sales in July and the same as in June. Many of these sold properties were bargain basement homes that were in some of distress. But, the inventory continues its rapid absorption as pent up demand, historically low interest rates, the First Time Homebuyer Credit, and increased affordability carry the day.

Continuing on a trend noted last month, the average sales price of Novato homes rose. In August 2009, the average price for a Novato home was $ 713,440. That is up from $632,078 in July and from $622,000 in June. While this large bump may be anomolous, the fact it follows a bump last month may prove significant. Certainly, the psychological impact on buyers waiting for bottom to hit may prove significant.

[Click HERE for the rest of the article, courtesy of www.Novato101.com].

As of September 11, 2009 an encouraging 49% of available listings are in escrow.

For the month of August 2009 60 homes sold in Novato, for an average final selling price of $571,464.

The average original asking price of these homes was $607,933.

The range of final selling prices was from a low of $108,500 to a high of $2,100,000.

Of the 60 homes that sold (with a whopping 34 of them being distress sales) 6 sold at their original asking price and 13 sold over their original asking price. All others sold for less.

It took these homes an average of 107 days to sell.

To see everything that is currently available on our MLS click here.

To learn more about this area visit my website or contact me directly.

A semi uneventful but very busy week for the office, with one wonder property on the market - a deliberally priced low REO single family home next to Novato High School, lots of unfinished, unpermitted work. The property commanded 23 offers in a few short days with several over asking, all cash offers. Novato realtors are buzzing about this kind of trend for REO offers (other than one extremely low priced short sale home on Leland Drive a while back, none generated as much activity as this house).

An experienced and knowledgable local Realtor is ultra important in guiding you through this new real estate maze - Check with your Realtor on how to spot, evaluate and make strategic offers in the current market!

As you can see from the statistics below, percentage wise, there is not a lot of change within a week. Howeve, the numbers give a good feeling about the market, although unusual, being somewhat stable.

Novato, and for that matter, Marin county real estate are seeing an encouraging trend of more buyers out looking for homes. As is the aboe case in mind - there will be 22 ready and willing buyers (many with all cash) for a bargain and yes, they jump on one when they see it!

% pending and Days on Market (DOM) continue to be skewed by the lingering short sale homes that have been in contract for a long time while waiting for lenders approval. Ask Sylvia to research background of the properties you are interested in!

Contact me at (415) 717-0293 or at sylvia@SylviaSellsMarin.com to discuss the market and the current trend, get familiar with the buying process, and start hunting for inventories on the market, whether REO, Trust Sale, start home, luxury homes. Take time to see many homes so you know the right house when you see it! It's never too late to get ready. I will be very happy to find the best house / investment property for you!

It will be my pleasure to serve you! Good Hunting!

• Buyer's Market < 25%
• Neutral 25% - 40%
• Seller's Market > 40%

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.