San Rafael, California real estate sales slipped in July 2010. We had 33 trades (compared to 45 in June). The entry level price band (under $600K) remains strong — 24 of these homes are currently in escrow (40%). Meanwhile, the $600K to $800K price band (a mix of entry level and move-up homes) remains tepid with 22% of homes in escrow. The inventory for single family homes for sale decreased slightly this month to 177 homes. Price per square foot rose above $400.

Of the 34 homes sold in June 2010, the average:

• days on market was 76 days
• sales price was $797,669
• home size was 2,028 square feet
• $403 per sq. ft.

Homes in  Lucas Valley and The Dominican generated the most calls and showings this past month. If you would like me to run the exact numbers for your San Rafael neighborhood or if you have any questions about our many delightful communities, just give me a call at (415) 350-9440. My name is Kyle Frazier. I am a Broker, Realtor, Certified Residential Specialist (CRS), and a Certified Luxury Home Marketing Specialist (CLHMS), with Christie’s Great Estates | Pacific Union International. It is always my pleasure to be of service.

The Novato, California real estate market continues its solid year. We had 33 trades last month. What is impressive is the fact that average sales prices are up and average price per square foot are up. The average sales price of Novato homes in July 2010 was $692,508 (up from $644,778 the month before). These homes averaged 106 days on market, were about 2,052 sq. ft., and averaged $320 per square foot (up from $306 sq. ft. in June 2010).

Novato’s price per square foot has hovered between 3-5% of $300 for a year now — in my mind, we are seeing the gradual recomposition of the market in the era of the “New Normal.” Prices are holding steady, particularly in the entry level and move-up price bands. This is good news for buyers and sellers alike. Moreover, historically low interest rates, currently hovering around 4.5%, are giving buyers adequate impetus to make their move.

Below are the percentages of homes in escrow in each of Novato’s major price bands:

• 65% of homes priced under $500,000;
• 40% of homes between $501,000 and $600,000;
• 26% of homes between $601,000 and $750,000;
• 26% of homes between $751,000 and $1 million;
• 16% of homes between $1 million and $1.5 million;
• 20% of homes between $1.5 million and up.

Of the Novato homes that sold in July 2009:

• 17 homes sold under $600,000;
• 16 homes sold between $601,00 to $1 million (the Novato move-up market is hot); and
• 6 sold for at least $1 million.

NEW HOMES IN NOVATO: The 3 Model Homes at The Landing at Hamilton Field are open. We expect that the first homes will be ready for occupancy in October/November 2010.

Pricing begins in the mid-$800,000’s. Interest surrounding this new Southern Novato community has been significant. Please call me at (415) 350-9440 for more information. Or, visit our website at www.TheLandingNovato.com.

If you would like to have the value of your Novato home professionally evaluated, or if you have any questions about Novato’s many delightful communities, just give me a call at (415) 350-9440.

My name is Kyle Frazier. I am a Broker, Realtor, Certified Residential Specialist (CRS), and a Certified Luxury Home Marketing Specialist (CLHMS), with Christie’s Great Estates | Pacific Union International. It is always my pleasure to be of service.

Postscript: Homes in Pointe Marin, Country Club, Hamilton Field, Rush Creek, and Bel Marin Keys generated the most calls and showings this past month.

As reported in June 2010, “real buyers” continue purchasing “done” homes in prestige locations such as Mill Valley, Belvedere, Ross, Kentfield, etc., along with “value” properties with locational upside, views of San Francisco, southern exposures, and knolltop properties. Marin County’s luxury home real estate market reflects increased sales velocity driven by buyer optimism. In the $2 million to $4 million price band, June 2010 sales eclipsed last year’s total, inventory is down from last year, and the number of homes with accepted offers (in escrow) is high. This combination of factors looks promising for continued improvement. And we are not alone — click HERE for a detailed snapshot of current national trends from the Institute for Luxury Home Marketing. I also believe that the imminent resolution of the tragic oil spill in The Gulf of Mexico will help improve public optimism, which has been suppressed by this calamity.

$2 Million to $4 Million Luxury Homes

True to last month’s prediction, trades were again up significantly in this luxury segment (with 20 sales, Marin County more than doubled last year’s total for the month and equaled May’s numbers) — another 24 homes currently in escrow (more than last month). Pending sales is a good leading indicator of increased sales next month. Certainly, buyers are feeling some urge to buy as it appears that the overall economic and housing environments are improving and pricing in the marketplace increasingly suggests “value.” Inventory remains relatively low at just 159 homes actively on the market (up by 22 from last month).

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

In June 2010, Tiburon and Belvedere experienced 13 home sales. Importantly, as evidenced by the chart below, several indicators point to an improving market — the median price of homes for sale is up 3% and the median price of homes sold is up 18%. 

Of course, keep in mind that last year (our basis for comparison) was the slowest in memory. Nonetheless, I think it is fair to say that the majority of real estate practitioners would agree that the field has tilted back to neutral position in most price bands. Moreover, the absorption rate of our listings is down over 42%. 

Below are the percentages of homes in escrow in each of the major price bands:

The number of homes sold in the Mill Valley, California real estate market rose and Mill Valley’s touchstone price band ($1 million to $2 million) posted another solid month. In contrast to the previous three years, buyers now speak confidently about our market, recognizing that prices have tumbled significantly, interest rates are extraordinary, jobs numbers have improved, and media coverage concerning real estate has turned positive. Moreover, we are seeing an improved marketplace in San Francisco which is the bellweather for Mill Valley and Marin.

The number of homes for sale in Mill Valley is down incrementally to 143. After the brief slow period in the Summer we can expect increasing inventory after Labor Day. Mill Valley’s entry level price bands (under $1,000,000) are as strong as we have seen them over the past couple of years. Moreover, bread and butter homes of $1.5 mil. and up remain strong and that market segment exhibits undeniable leading indicators of a strengthening market. The chart below tracks prices of “for sale” and “sold” homes at or above $1.5 million compared with last year. Indeed, asking prices are down 6% and sales prices are up 17%. This trend is not evident in every price band.

[Click HERE for the rest of the report courtesy of MV101.com.]

 San Rafael, California real estate sales remained strong in June 2010. We had 45 trades (compared to 41 in May). The entry level price band (under $600K) remains hot — 37 of these homes are currently in escrow. Meanwhile, the $600K to $800K price band (a mix of entry level and move-up homes) remains tepid with 25% of homes in escrow. The inventory for single family homes for sale increased slightly this month to 198 homes. Increased supply is typical this time of year as many of the overpriced homes from early in the year remain on the market and new listings are added.

Of the 45 homes sold in June 2010, the average:

• days on market was 73 days
• sales price was $746,088
• home size was 1,909 square feet
• $394 per sq. ft.

Homes in Gerstle Park, Lucas Valley and The Dominican generated the most calls and showings this past month. If you would like me to run the exact numbers for your San Rafael neighborhood or if you have any questions about our many delightful communities, just give me a call at (415) 350-9440. My name is Kyle Frazier. I am a Broker, Realtor, Certified Residential Specialist (CRS), and a Certified Luxury Home Marketing Specialist (CLHMS), with Christie’s Great Estates | Pacific Union International. It is always my pleasure to be of service.

The Novato, California real estate market continues its torrid year with 49 sales in June — up from 38 sales in May 2010. The average sales price of Novato homes in June 2010 was $644,778. These homes averaged 98 days on market, were about 2,162 sq. ft., and averaged roughly $306 sq. ft.

Novato’s price per square foot has hovered between 3-5% of $300 for a year now — in my mind, we are seeing the gradual recomposition of the market in the era of the “New Normal.” Prices are holding steady, particularly in the entry level and move-up price bands. This is good news for buyers and sellers alike. Moreover, historically low interest rates and added sales are giving buyers adequate impetus to make their move.

Below are the percentages of homes in escrow in each of Novato’s major price bands:

• 47% of homes priced under $500,000;
• 34% of homes between $501,000 and $600,000;
• 36% of homes between $601,000 and $750,000;
• 33% of homes between $751,000 and $1 million;
• 18% of homes between $1 million and $1.5 million;
• 13% of homes between $1.5 million and up.

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

Nestled under Oak trees in the hills of this historic section of Sausalito by the Bay, craftsman meets contemporary in this beautifully designed four bedroom, two and one half bath home. This home was rebuilt from the studs and finished in 2003. Everything is done with impeccable taste, from the distressed walnut floors throughout, mosaic tile work in the entryway and kitchen, to the large picture windows overlooking the Bay.

Brick steps take you up to the picturesque brown shingled home. As you enter through the glass door, you first notice the mosaic flower tile work on the floor. The delightful half-bath just off the hall has a rose-colored marble sink and crystal light fixture. Windows abound as you walk into the combination living/dining room. The large picture windows catch your eye as you watch ships move past on the Bay. A colorful Italian Murano crystal chandelier hangs over the dining room table. French doors lead out to the slate balcony, overlooking the water. A Rumford wood-burning fireplace, modeled after Jefferson’s fireplace in Monticello, complements the living area. Custom-built cabinets with glass doors frame the wall between the living/dining room and the kitchen.

The chef’s kitchen is designed exquisitely with an abundance of custom cabinetry, a pistachio quartzite stone counter, Subzero refrigerator, Thermador double oven and gas range with grill, Bosch dishwasher and Kitchen Aid trash compacter. Italian Calcutta tile graces a wall in a floral mosaic. Aside the kitchen is a more casual dining area with windows out to the garden. Off of this dining area is a den with a flat screen television and stereo system. While music can be heard and volume controlled throughout the home, the den has surround sound. Built-in bookshelves frame the flat screen television. Off the kitchen is a colorful garden with flowering ground cover with purple, pink and red flowers as well as tropical fern and a fountain.

At the top of the stairs is a child’s play area, painted muted yellow, which could also double as an office. Custom-designed closets abound throughout the upstairs and the rest of the home. The Master bedroom is olive green and filled with windows that have hill and bay views, and there is a large walk-in closet. A full bath is located across from the master and is meticulously designed with a soaking tub, walk-in marble shower with a rain showerhead, and a toilet and pedestal sink separated by a pocket door. The floor is marble with an intricate basket weave design.

A child’s room in light blue mirrors the blue of the water seen from its windows looking directly out on the Bay. Two long closets on either side of the room with double doors allow for plenty of storage. One of the long closets has a mural painted inside and could be a perfect playhouse for an imaginative child.

The downstairs has two more bedrooms, perfect for guests or an au pair. The full bath down has another shower with a rain showerhead and more marble throughout. There is a tiled wine cellar with two concrete walls, keeping the room naturally cool for the storage of favorite wines. There is a laundry room with a Maytag washer and dryer. Beyond this area is a family or media room with another Rumford fireplace and French doors that go out to a front garden with white roses. (The family room is currently being used as an office.) Although this home is totally integrated, it is classified as a two-unit residence and the area with the family room, bedroom and bath can also serve as a separate unit if so desired.

There is radiant heating throughout. Custom window treatments of linen and of cotton complement most of the double-paned windows throughout the home. The home has HD DirecTV and future-proof wiring as well as recessed lighting throughout. There is a spacious two-car garage. The garage, which was completed in 2008, contains a workbench, storage cabinets and a Stor-all wall system. Just a few blocks down the hill are the charming shops and restaurants of Sausalito. This home allows for plenty of privacy up on the hill yet is close to town.

For more information, visit www.219WestStreet.com. Or, call Kyle at (415) 350-9440.