Novato, CA

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:

Foreclosures continue to be the big story in 2009. According to Realty Trac, 1.5 million homes either received a foreclosure filing or were seized by banks. And keep in mind, there was a 3-month moratorium on foreclosures for three months! As usual in Marin County, Novato continues to lead the way with the most foreclosed homes.

While this is devastating to a family, the other side of the coin is that people who have been priced out of the market for years, now have a chance to own a home.

But foreclosure is the big story and try as they might, no one seems to have a workable solution to the problem. Loan modifications are spotty at best, and the unemployment freight train keeps rolling along. One in six members of the workforce in the U.S. is either unemployed or underemployed. That's astonishing!

My only bit of advice: If you're in trouble on your mortgage, don't just sit there! Help is available, and you could be pleasantly surprised at how close a solution could be.

As always, you can reach me through my website at www.BestHomesMarin.com.

We were called in to Stage a home that had previously been on the market for six months and not one offer. When we got to the home we thought no wonder it didn't get any offers, the outside really needed some help. The inside was vacant but really nice and it had some really nice features...but if you can't get the buyers in the door the home is not going to sell. So we gave a list of landscapers from our resource binder to the new Realtor and homeowner and just like that the outside of the home looked appealing.

We Staged on Saturday and they had the first open house on Sunday. Two offers came in that day and one of them was the new owner of the home.

Here are some before and afters of the outside of the home. More inside photo's to follow.

Before

After

Before

After

Besides the landscaping we also had the front door painted. It went from white to beautiful burgundy!

Door Before

After

Another After

Backyard Before

Backyard After

Backyard Before

Backyard After

Stage with Divine Style is a full service Real Estate/Home Staging Company. We showcase every home we Stage so it will be:

1. Impactful
2. Impressive
3. Inspiring

Give us a call toll free at 877.267.4649 if you want your home to Shine and Sell.

As of July 8, 2009 an impressive 47% of available listings in Novato are in escrow.

For the month of June 2009 51 homes sold in Novato for an average final selling price of $574,357.

The average original asking price of these homes was $629,116.

The range of final selling prices was from a low of $145,000 to a high of $2,274,000.

Of the 51 homes sold 3 sold at the original asking price and 9 sold over. (22 were distress sales.)

It took these homes an average of 142 days to sell.

To see everything that is currently available for sale, click here.

To learn more about this area, including all the fun things to do around here, visit my website or contact me directly.

This is the second Condo that we Staged. This Condo had less square footage then the first Condo that we Staged. What was nice about this Condo was the living Room, Dining Room and Kitchen combo were very large and open. Here are the before and after photo's.

Living Room

Before

After

Dining Room

Before

After

Living Room/Dining Room Full View

Before

After

Coffee/Breakfast Area

Before

After

Kitchen

Before

After

Master Bedroom

Before

After

Master Bath

Before

After

Stage with Divine Style is a full service Home Staging, Interior Re-Design and Professional Organizing Company. We offer free bid/proposals, occupied and vacant Home Staging. We can do as little or as much as you like. Call us at 877.267.4649 for a free in home estimate. You never get a second chance to make a great first impression!!!