Novato, CA

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.

The pictures were taken in the summer, around the very desirable Partridge Knolls neighborhood, overlooking San Marin, showing the 'golden' state. During the raining season, the hills turns fresh and than jade, provides a refreshing look throughout the county. Mt. Burdell, being one of the 'younger' hills in Marin County, has oak trees dotted in various places, provides a lively and beautiful picture of the hills.

Can't believe summer slips by so quickly! I last posted Novato Statistics on April 1, 2009 and now is the later part of August. Students are back in school and we are heading into fall.

During the past four months, with housing prices dropped 20%-30% and certain condos at 50% drop (the ones with problementic HOAs), stimulus plan, attraction of the 'up to $8,000 credit back', interest rate staying low, regular sellers holding onto their properties unless they have to sell; the supply remains low and demand has heightened. All these contribute a shift in the percentage of houses under contract, moving most price ranges into the 'sellers' market, meaning % of houses under contract is great than 40%.

The only decrease in percent of pendings are the 700-800K range (inbetween starter homes and luxury homes) and the super luxury range (over $1.5M) in Novato.

Novato, and for that matter, Marin county real estate are seeing an encouraging trend of more buyers are out looking for homes, and they are Serious and Anxious buyers. Most are the traditional buyers with solid downpayments, steady jobs; some are seasoned investors, all cash buyers, some are first time investors, and many first time buyers are also taking advantage of the soft market, low housing prices; and not surprisingly, all are looking for that great bargains and many are getting them.

% pending are also skewed by the many short sale homes that have been in contract for a long time while waiting for lenders approval, but what great bargains the buyers can get with time in hand and plenty of patience. I often encourage my clients to look for short sales if they can wait, beats jumping back into that multiple offers situation with REO, bank owned homes. All my buyers clients are getting the best deals now because both of us have the patience to strategize, look, wait and bargain for the best property to purchase.

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%

August 21, 2009 -- It's amazing how quickly these homes go up! Olive Court is a new cul-de-sac community in east Novato, in lovely Marin County.

Green construction.

Visit our brand new website, http://olivecourthomes.com

Listings courtesy Kevin McGinnis and Mike Cohen, Frank Howard Allen Realtors
(415) 725-1911