Serene Cul-De-Sac Location in Pointe Marin, Southern Novato

Picture a cozy cottage nestled among the rolling hills–welcome to Pointe Marin’s Hideaway neighborhood. Secluded, yet conveniently located within easy walking distance to today’s necessities and a 2 minute drive to HWY 101 and the highly sought-after Southern Novato commute. 

This immaculate Craftsman Style home with a Great Room configuration (3 Bedrooms + Office, 3.5 Baths), was built in 2002 and sits on a peaceful cul-de-sac near parks (literally around the corner), trails, shopping, restaurants, banking, transportation, and more. It possesses all the benefits of modern construction, but retains a palpable old fashioned comfort and warmth.

The many unique amenities include: hickory floors upstairs and down; sumptuous cherry cabinetry in the Kitchen; tasteful and expensive window coverings (including electronic blinds for the high windows in the family room); French Doors to the back yard; air conditioning and central heat; an efficient dual-zone climate control system; multiple built-in shelving and cabinets; overhead fans in all bedrooms and the office; and a convenient upstairs Laundry Room. Additionally there is a guest suite downstairs with its own bathroom. This home also features a sizable office with double doors. 

The Master Bedroom is fitted for royalty with a large retreat and Master Bath with massive oval tub, step-in shower, loads of closet space (with built-ins by Closet Factory); and dual vanity. 

Outside, the immaculate landscaping (including an early blooming cherry tree and climbing roses) is on a carefree automated irrigation system and designer accent lighting. There is a sizable grassy area, accented by a tasteful patio perfect for those wonderful Indian Summer al fresco dinners.

• Address: 65 Hollyleaf Way, Novato
• Listing Price: $759,000

If you have any question, call Kyle Frazier at (415) 350–9440, or e-mail [email protected].

Mill Valley Real Estate Market Report (September 2008 Home Sales Update)

Overall, Mill Valley’s real estate market is cruising into the Fall with good bit of momentum (although sales are down from last year). It remains a market that favors buyers who are flexible and willing to make sacrifices in order to obtain value. Meanwhile, many sellers have decided to wait for the real estate market to improve. Interestingly, I am also seeing many folks come through open houses who fit the following profile: they sold their homes a couple of years ago and have been renting with the expectation that home prices would come down (as with the dot-com bust, many saw the current real estate market slowdown on the horizon). Although prices have not dipped in Mill Valley as they have in Northern Marin, these potential buyers are eyeing the current market hungrily and many of them are investigating their options.

Oddly, August 2008 saw a marked slowdown in the percentage of entry level homes in escrow from July 2008 (it dropped from 53% of homes priced under $800,000 to 20%). [click here for the remainder of the report and for a table showing recent activity by price, provided by MillValley101.com].

Marin County, California, Luxury Homes Report (September 2008–Sales and Inventory Analysis)

The number of homes for sale in the $2 million to $4 million luxury home market in Marin County, California rose over the past to 109, compared to 106 homes in August 2008. The slight rise in inventory coincided with a respectable month of sales with 16 homes sold in August 2008 (down by 4 from July).  

Mill Valley and Ross experienced the most luxury home sales (with 4 of these homes selling in each). Belvedere, Tiburon and Corte Madera each had 2 homes sold and Kentfield and Sausalito had 1 sale each. The average days on market for homes that sold was a mere 95 days (25 days more than in July) and the average sales price was $2.927 million (roughly $875/per sq. ft.), with an average of 3,503 square feet. Belvedere and Tiburon seem to be hot as they each have 6 homes in escrow.

The above graph identifies the numbers of active listings and homes in contract in the Marin County luxury and ultra-luxury home market segments. Note that all homes in contract are included in the category “Pending” even though some are technically “Contingent” properties (e.g., the buyers have not removed all contingencies). This information is limited to Marin County’s Highway 101 corridor towns and cities that consistently maintain a monthly inventory of luxury and ultra-luxury homes (Western Marin coastal homes are not included). Call Kyle Frazier, Marin Realtor & CRS, Broker Associate, Frank Howard Allen Realtors of Marin, at 415/350-9440 with any questions about a particular neighborhood or your situation. You can also e-mail Kyle at [email protected].

Marin County Real Estate Update–September 2008 (Homes For Sale & Price Ranges)

Looking outside last night, my wife commented that it was "dark already" (it was about 7:15 p.m.). I personally confirmed her observation–it looks like the seasons are changing. Predictably, after the annual slowdown of sales in Marin County during the Summer months, it seems as though activity has really picked up over the past couple of weeks. Half of my listings are in escrow (one had 3 offers) and the rest are getting lots of attention. The number of listing is up slightly (it would be up more significantly, but for the high number of Novato homes that are in escrow) and open houses are busy. Buyers seem to recognize that now may be the time to act as they are not convinced the market will tread further south and because of low interest rates (I heard that mortgage rates are down to around 5.75% for conforming loans). Qualifying for those loans is the big issue now–the underwriting process has become very demanding and unforgiving. 

We currently have 756 active listings (up from 748 in August 2008). While Summer is traditionally slower for home sales, buyers continue visiting open houses en mass. Reports of multiple offers continue, especially for aggressively priced Southern Marin homes in good locations and bank owned properties in Novato. And even though the number of homes sold has decreased significantly this year, sellers are holding fast to their prices (particularly in Southern Marin).  

The graph below breaks down the current number of homes (not including condos) for sale in Marin County, California, in September 2008, along with the price ranges for each town/city. 

Marin Single Family Homes For Sale

Some observations: Highly desirable Belvedere homes run about $2.4 million, minimum. If you are looking to spend $10 million or more for an amazing estate with views, start looking in Tiburon, which has 7 homes ranging from $10 million to $44 million. 

At the other end of the spectrum, Novato has lots of homes under $600,000. Investors are active (again, amazing rates right now) and all signs point to a busy Autumn for Marin Realtors. Indeed, besides having good air (the best in the country, in fact), excellent schools (click HERE for Forbes’ recent article touting Marin Schools), a relatively short commute (even the Novato commute to San Francisco will soon be improved further when the HWY 101 widening project is completed in December), lots of dedicated open space, beaches, hiking trails, proximity to Lake Tahoe, and everything else we sometimes take for granted living here, we can also be pleased that we don’t see the wild down-swings in pricing like other parts of the country (click HERE for my recent article on Fundy Markets).

If you would like any additional information, please give me (Kyle Frazier, Marin Realtor & CRS), a call at (415) 350-9440. It is always my pleasure to be of service.

San Rafael Real Estate Market Report (September 2008 Home Sales Update)

As Summer closes out and we enter the Autumn buying season, the entry level market in San Rafael continues performing well, despite a jump in listings. I referred to July 2008 as the "warm water month" because it seemed everyone jumped in–and that trend continues with about 36% of homes in the under $800,000 price range in escrow! That is strong. Despite stricter underwriting policies many buyers can qualify for today’s excellent mortgage rates and it appears that they are focused on the low end–and there is plenty of inventory to accommodate as there are fiftteen homes are for sale under $600,000 and 34 homes are listed under $700,000. It seems many folks unimpressed with San Rafael’s invetory are looking into Novato’s more affordable homes.

Sellers continue to stay focused on presenting their homes in the best possible light and pricing their homes to sell. Buyers know value when they see it (and they expect to see some sizzle from motivated sellers). Of the 30 homes that sold in August 2008 (37 sold in July), the average days on market was 82 days. These homes sold for an average price of about $822,000; about $477/square foot. San Rafael’s strongest micro-climate markets during the past month included Glenwood, Los Ranchitos, Santa Venitia, and Lucas Valley. Aficionados of renovated Eichler homes continue to snap up these mid-century modern, architecturally distinctive homes quickly and decisively (unfortunately, there will be no Eichler home tour this Fall).

 Contact Kyle Frazier, Marin Realtor & CRS, Frank Howard Allen Realtors, with any questions: (415) 350-9440.

Novato Real Estate Market Update (September 2008 Home Sales Report)

 While the past few evenings have brought a chill to the air, the Northern Marin (e.g., Novato) real estate market continues to show some heat. Buyers are focused and seemingly undeterred when it comes to writing offers below asking price–sometime significantly so. Sellers with a need to sell are embracing aggressive pricing. As I have said before, Novato is the land of opportunity for those priced out of Southern and Central Marin–indeed, with interest down under 6% again, those who can qualify for a mortgage are jumping in, along with increasing numbers of investors way of the stock market and bullish on Marin real estate.

There are 36 homes under $500,000 (down by 9 from August 2008), and 60 homes under $600,000 (down by 7) currently on the market. At the other end of the spectrum, Novato’s resurgent semi-luxury market ($1 million to $1.5 million price range) posted another 6 sales (there have been 19 such sales over the past 3 months). Overall, 31% of homes and condos on the market in Novato are in escrow. The hottest market segment is the under $500,000 price range, although all price bands under $1 million are performing well.