A 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 The building, sits ato... 04/26/2009

We're a month into the 2nd quarter of 2009 and Novato home sales are picking up. Since the first of the year, there's been a hefty increase in buyer activity at many price points. Specifically, there's been a market surge for Novato properties priced up to $700,000. The chart here represents pending sales, or homes that are in escrow. The main reason that the number of homes in escrow is an important indicator is that it represents today's news, whereas closed sales are yesterday's market.   WEEK of JAN 22 WEEK of APR 22   CATEGORY % Pending % Pending % chg All single-family and condos       30       39.5 +9.5 Single-family (SFD)       28       37 +9 Condos       37       45.5 +8.5 $0-$500K SFD       45       57.5 +12.5 $500,001-$600K       27       48.5 +21.5 $600,001-$700K       27   ... 04/25/2009

While the pipeline of new properties and overall inventory levels increases dramatically throughout most of Marin County, CA. (this is the prime selling season, after all), Novato’s inventory level remains at a seasonally adjusted low with just 152 single family homes for sale. There were 142 homes for sale in March 2009. Perhaps we are on the back side of the distressed property curve. Meanwhile, the absorption rate (e.g., the number of months of inventory currently available in Novato) dipped dramatically from 7.9 months in March to 6 months today (note: earlier this year, we were down to 4.5 months due to the large number of sales in December 2008). Absorption rates and the days on market averages provide a telling insight into the overall state of the market. More on this below.  A... 04/17/2009

While the pipeline of new properties and overall inventory levels increases dramatically throughout most of Marin County, CA. (this is the prime selling season, after all), Novato’s inventory level remains at a seasonally adjusted low with just 152 single family homes for sale. There were 142 homes for sale in March 2009. Perhaps we are on the back side of the distressed property curve. Meanwhile, the absorption rate (e.g., the number of months of inventory currently available in Novato) dipped dramatically from 7.9 months in March to 6 months today (note: earlier this year, we were down to 4.5 months due to the large number of sales in December 2008). Absorption rates and the days on market averages provide a telling insight into the overall state of the market. More on this below.  A... 04/15/2009

I work mostly in Sonoma County, but Marin is close to home and some of the same buyers will look in both Novato and Petaluma. I posted about finding a bottoming trend in one of the Sonoma County areas I work in and wanted to see if Novato in northern Marin showed the same trend. I made a chart showing the median price of sold single family residences in the three Novato zip codes. Each zipcode has both a 90 day moving average as well as a more volatile 7 day moving average. There are always lots of interesting tidbits to pull out of charts like this so I'm going to walk you through how I use this to understand a bit more of the market. First of all, the orange and red lines (94945 and 94949 respectively) start out at the same place last May at around $870K for median priced homes. As of... 04/14/2009

Pointe Marin is a newer housing development in very desirable Southern Novato. It is located to the west of HWY 101 at the Ignacio exit. Commute times to San Francisco vary, but you can expect a 40-50 minute commute (note that the HWY 101 widening project is set for completion in December 2008). This neighborhood is quiet, with wide streets and lots of open space. Indeed, many of the homes in Pointe Marin back up to open space and all homes are in close proximity to endless trails, lots of parks, shopping, and transportation. It is also close to the prestigious Marin Country Club, Stonetree Golf Club, and the Indian Valley campus of the College of Marin. Pointe Marin is one of Novato's finest neighborhoods. There are many families and retirees. Indeed, Novato and Pointe Marin have seen ... 04/10/2009

As of April 6, 2009 an encouraging 35% of available listings in Novato are in escrow. For the month of March 2009 37 homes sold in Novato for an average final selling price of $480,757. The average original asking price of these homes was $521,041. The range of final selling prices was from a low of $155,000 to a high of $1,478,000. Of the 37 homes that sold, 3 sold at their original asking price, 8 sold over their original asking price and the remaining 26 homes sold for less than their original asking price. It took these homes an average of 85 days to sell. To see all homes that are currently available for sale through our local MLS, click here. To learn more about the area visit my website or contact me directly. And, now, a shot from Bel Marin Keys with Mt. Tam in the distance: 04/09/2009

The chart below illustrates the number of, and percentage of, 2009 distressed sales (e.g., REO--a.k.a. bank owned homes and short sales) in Marin Ca.   SFH Sales - January 1 - March 6, 2009     Total   Distressed   % of Total Marin County   142   46   32%               San Rafael & Novato   73   34   47%               All Other Cities   69   12   17%               Source:  BAREIS March 8, 2009             Take away from this chart is YTD 50% of the sales in Marin County have been in San Rafael and Novato. Of these San Rafael and Novato sales nearly 50% are distressed sales. In all other cities the distressedcomponent of the market is 17%. If you are thinking of buying or selling in Novato or San Rafael, be sure you carefully square-up who you hire to represent you and what your timelin... 03/11/2009

A comparison of Novato Real Estate Market between March 4, 2009 and November, 2008.  A lot has happened since November, 08, and the market reflects some of that.  Novato Real Estate Market statistics stays pretty flat with a few big gain in percent pending - under $500K starter single family homes had a gain of 10% to a strong sellers market at 51% pending; the midrange, properties between $700K and $800k enjoyed an 8% increase in pending.  The total now reach 27%, moving towards the right direction.  The Biggest gais are the over $1,25M market - One thing to keep in mind is that due to the very small volume of the homes avaialbe, a house or two sale makes a huge difference percentage wise.  The ratio is held steady by dwindling inventory - overall inventory dropped by another 20%, fro... 03/09/2009

As of March 6, 2009 an encouraging 35% of available listings in Novato are in escrow. For the month February 2009 21 homes sold in Novato for an average final selling price of $590,429.  Oddly similar to Larkspur and Greenbrae. The range of final selling prices was from a low of $135,000 to a high of $1,400,000. Of the 21 homes that sold, 3 sold over their orignal asking price with all others selling for less. It took these homes an average of 141 days to sell. To see more recent sales history for Novato and the surrounding areas, click here. To see all homes that are currently available for sale, click here. To learn more about the area visit my website or contact me directly. 03/07/2009

If you follow my writings, you know I am a big fan of Novato's Hamilton Field. With newer homes (which are relatively low maintenance), friendly atmosphere, lots of amenities, easy proximity to shopping, dining, and public transportation (even to San Francisco), it is truly an idyllic fit for many. And with the reduced commute times now that the HWY 101 widening project is largely complete, the Souther Novato location is in high demand.   Because of the easier commute and increased affordability, interest is very high. Hamilton Landing, the award winning business park created and effectuated by Barker Pacific is fully leased -- that fact translates to lots of jobs right there in Hamilton. In addition, Hamilton Plaza was recently completed and contains a monster,  deluxe Safeway (with ga... 03/02/2009

The following announcement was sent by San Marin Improvement Association, inviting residents to participate in a meeting with ‘Commons Collaborative', concerning the ‘Commons at Mt. Burdell' Project. Time: 7pm, Monday, March 2nd Location: All Saints Church, 2 San Marin Drive, Novato.  Meeting Objective:    The proposed Commons at Mt. Burdell mixed-use development would eventually add approximately 750,000 square feet to an existing the 710,300 square foot Fireman's Fund site (3 four-story office buildings).    Phase 1 of new development would convert existing surface parking on the east side of the site to a 170 room hotel with a sports club and spa, first-floor retail space with 150 apartments above, and parking structures.  Phase 2 eventually would add two new 250,000 square foot offi... 02/28/2009

As of February 7, 2009 an encouraging 33% of available listings in Novato are in escrow. For the month of January 2009 33 homes sold in Novato, for an average final selling price of $486,076. The average original asking price of these homes was $538,340. The range of final selling prices for these homes was from a low of $171,000 to a high of $1,850,000. Of the 33 homes that sold, 1 sold at their original asking price, 10 sold over their original asking price and all others sold for less. A whopping 24 of these 33 homes were distress sales.  (This is a somewhat alarming trend.) It took these homes an average of 119 days to sell. To see all homes that are currently available for sale, click here. For more information about this area visit my website or contact me directly. 02/07/2009

Below is a 90-day rolling average of price and inventory. As you can see, over the past 9-months median prices have dropped over $80K in Novato. Although inventory is down pursuant to the seasonal cycle, the number of homes for sale will rise quickly after the Super Bowl and through June. If you have any questions about the Novato, California real estate market or any homes for sale, please call. It is always my pleasure to be of service. -Kyle Kyle Frazier, CRS Broker Associate Frank Howard Allen Realtors Kyle@Novato101.com (415) 350-9440 01/20/2009

The "Real" State of Real Estate: A FREE Seminar detailing what you need to know about the Novato Real Estate market in 2009   Date: Saturday January 31, 2009Time: 11:00-12:30Location: Optimal Learning Ceenter120 Landing Ct. Novato (off Redwood Bl.) Good time to buy? Low rates enticing buyers? How will the Hwy 101 project affect home sales? The headlines are full of mixed messages, generalizations and even bad information. We'll cut through the noise to bring you market realities, including why this is a unique time in history for Novato real estate.  Learn how the market affects you, whether you own, rent or may buy or sell in the future. PLUS: 5 ways to sell your house for more money in 2009. Presented by Kevin McGinnis and Associates of Frank Howard Allen Realtors. Featured speakers ... 01/17/2009

As of January 13, 2009 an encouraging 26% of available listings in Novato are in escrow. For the month of December 2008 47 homes sold in Novato for an average final selling price of $513,828. The average original asking price was not available as one of the listings that should have been loaded at an asking price of $439,000 was loaded at $43,900,000.  Worth noting, this particular listing sold for $467,000. The range of final selling prices was from a low of $161,500 to a high of $1,300,000. Of the 47 homes that sold, 6 sold at their original asking price and another 6 sold over their original asking price. 27 of the 47 homes were distress sales. It took these homes an average of 126 days to sell. To see everything that is currently available for sale, click here. To learn more about t... 01/14/2009

Kevin McGinnis and Associates of Frank Howard Allen just sold another Novato home. This time it was 712 Del Mar Avenue, a custom-built Cape Cod-style home on a beautifully landscaped lot. It featured four bedrooms, two baths and a gourmet kitchen with oversized island. As part of his outstanding Novato real estate service, Kevin had the home professionally staged by Picture it SOLD! Home Staging so it would stand out among its competitors in this "crowded" marketplace. He also provided professional, wide angle photographs of the property, which are so critical in the successful marketing of a home. According to the National Association of Realtors, 87% of buyers begin their home search online. So, having quality photos - and lots of them - is more important than ever in attracting poten... 01/12/2009

As is the tradition of the San Marin High School in Novato, Marin County (famous for eCO friendly and environmental mind); the San Marin SafeGrad committee is running the annual Christmas Tree Recycling Program while rasiing money for our 2009 Graduates. For two weeks after Christmas, San Marin High community members; consists of students, parents, other community supports; and the Novato Disposal Inc. joined force once again to recycle Christmas Trees for local residents.  This has become an annual event for many locals and my company, Frank Howard Allen, has become the third partner in this endeavor since 2007, I am pleased to say! Novato Disposal provides giant dumpsters through those two weeks and the San Marin SafeGrad committee provide labor for Novatons to either drop off or pick... 01/01/2009

Projects associated with Novato's Hamilton Field continue to rack-up recognition -- Hamilton Landing (a robust business hub now occupying the former hangers (circa 1930) of the Hamilton military base) and Hamilton Marketplace (a diverse new shopping center with a mega-deluxe-Safeway (and associated gas station), Peet's, Starbucks, Jamba Juice, banking, restaurants (still to come), pet supplies, and more) were named “Top Projects in the North Bay” by the North Bay Business Journal. Both feature unique architecture and green building elements. Hamilton Marketplace also incorporated solar power.  Barker Pacific Group acquired the Hamilton hangers almost a decade ago and has shepparded the renovation of the hangers to fruition. It is now a bustling business center occupied by media entitie... 12/18/2008

Dogbone Meadows Dog Park in Novato, Marin County, located en route to Stafford Lake and West Marin, is probably the best dog park in Marin County, or maybe even California.  Dogs often bring their people when they are on the way to the beaches. Built by dog loving people (or shall we say, slaves of dogs), the property is around 1 acre, with tracks for dogs and human alike, and toys for dogs only.  The backdrop is Open Space, part of O'Hare Park, great hiking, horseback riding trails. This is a morning with unusual heavy fog from West Marin, a beautiful background for the dog park.  Duke (black, rescued from 2nd Chance Rescue) and Hunter (Golden) love to come here in the morning - Duke, after dropping his brother off at local high school, and Hunter, after dragging his mom for his daily ... 12/17/2008