Novato Real Estate Market Update (April 2013 Novato Home Sales Report)

Novato Real Estate Market Update (April 2013 Novato Home Sales Report). Novato’s real estate market has changed significantly from 2012. Those who follow real estate have noted that 2013 is a completely different animal that years past as buyers have finally come back into the market. The combination of low inventory, low interest rates have resulted in an expanding reservoir of “ready, able, and willing” buyers. These home buyers are stepping up in Novato and purchasing listings from all different price points. Even the $2 million+ price point has seen significant activity over the past 3 months as affluent buyers are returning to Novato to capture value and lifestyles unobtainable elsewhere in Marin County. The sales numbers relative to standing inventory remain impressive.

My continuing advice to sellers remains — “If you want to sell in 2013, get your home out there!” CALL ME if you are thinking of selling. My systems can get you on market quickly with the very best marketing available. And my negotiating skills will get you top dollar.

March 2013 sales figures for Novato, CA were exceedingly strong — Novato totaled 38 trades (up from 23 in February). We continue to starve for inventory. Due to the factors noted above and the lack of inventory, buyer urgency is as high as I have ever seen. Buyers are making very strong offers with lightning speed (sometimes without inspection contingencies) on nearly all fairly priced homes. The average sale price for Novato homes that sold in March 2013 was $689K. Novato is now also seeing strong activity on listings over $1 million (28% of $1 million+ homes are in escrow).

[For the rest of the article, courtesy of www.Novato101.com, please click HERE]

2013: Timing Is Right for Marin County Sellers

The Bay Area’s real estate markets are poised for a busy year ahead.

Buyers are eager and anxious. The pent-up demand that sparked bidding wars and pushed home sales into record territory in 2012 shows no sign of slowing down in 2013, as buyers rush to take advantage of bargain-priced properties and mortgage rates still hover near historic lows.

Now it’s time for sellers to join the party.

With the U.S. economy on the mend and home prices rising, many sellers are entering a sweet spot where they’re able to get desired sale prices and then save tens of thousands of dollars as they trade up to more attractive homes themselves.

Some people who believe their home is still underwater – that they owe more on their mortgage than the value of their home – may be wrong.

Home values have risen solidly across the Bay Area over the past year, boosted not just by the improving economy but also by bidding wars and homes selling over their asking prices, which may raise the value of comparable nearby properties. A home that may have been valued recently at $500,000 could be worth significantly more today because of comparable neighborhood sales.

It takes the expertise and advice of a real estate professional who knows the local market to help assess a home’s current value and prospects for a sale.

And buyers are waiting.

The Bay Area real estate market is one of the hottest in the nation, evidenced by the return of bidding wars that have pushed sale prices for many desirable properties tens of thousands of dollars above list prices.

A steady decline in the number of available properties on the market has fueled the anxious bidding.

SHRINKING INVENTORY
“Months’ supply of inventory” (MSI) is a common real estate metric, measuring how quickly the current supply of homes would be sold at the present sales rate. An MSI between four and six months is considered a balanced market, and Marin County today is decidedly out of balance – in favor of sellers. As noted in my series of market reports for the month of January 2013, Marin towns with MSI’s under 1 month included Mill Valley and Novato.

In Pacific Union International’s East Bay and Contra Costa County regions, the current MSI stood at 0.9 months at the end of January, both down from three months’ supply a year earlier. That number suggests that buyers are snapping up many homes just a week or two after they hit the market.

In San Francisco it was hardly better with an MSI of 1.1. Except for a rare improvement in the East Bay in January (it had decreased to 0.7 in December), the MSI has been falling steadily across the Bay Area throughout the past year.

Still, buyers remain undaunted. The Bay Area market share for homes priced below $500,000 grew 9.2 percent from 2011 to 2012, while Pacific Union’s share did markedly better, rising 33.7 percent.

For homes priced $500,000 to $1 million, the Bay Area market share grew 23.3 percent — and 40.9 percent at Pacific Union. The market share for homes priced $1 million to $3 million grew 33.7 percent in the Bay Area, and 41.1 percent here at Pacific Union.

The numbers suggest that Bay Area home prices will continue to appreciate throughout 2013.

INCENTIVES FOR SELLERS
Sellers looking to trade up to a higher-priced home are in an enviable position today.

Real estate professionals know that in a recovering market, price appreciation starts at the bottom and moves up. That means sellers are generally able to get a higher price for their home while locking in savings as they trade up to a more expensive home. And those savings multiply as the value of the trade-up home increases.

Even when price appreciation is flat across a market, trade-up buyers stand to make significant gains.

For example, consider the homeowner whose property was valued at $300,000 in 2006 but experienced a 20 percent drop in value to $240,000, for a loss of $60,000. That same 20 percent drop in value for a higher-priced home – say, a $450,000 home now valued at $360,000 – gives the trade-up buyer savings of $90,000, or a net gain of $30,000 on the new home.

INTEREST RATES AT BARGAIN PRICES
Looking for another reason to trade up sooner rather than later? Interest rates today make homeownership a bargain we haven’t seen in decades, but the low rates won’t last forever.

For much of 2012, interest rates remained near 3.4 percent, but they are starting to creep higher. Last week, Freddie Mac reported that 30-year fixed-rate mortgages averaged 3.53 percent, up from 3.42 percent the week before, and a report from the Mortgage Bankers Association predicted that rates will average 4.4 percent by the end of 2013.

That one-percent rise in mortgage rates will add $225 to the monthly payment on a $400,000 mortgage.

Another way to view mortgage rates is to look at the increased buying power of today’s low rates compared with the recent past.

In 2002, for example, when the interest rate on a 30-year fixed-rate mortgage stood at 6.5 percent, the monthly payment on a $500,000 loan was $3,132. Today, that same loan payment would buy a home with a $700,000 mortgage – an incredible net gain of $200,000.

Sellers may have had good reasons to hold onto their homes as the housing market foundered, but after five or six years of inactivity the urge to move on and up is hard to resist. Look to your Pacific Union professional for expert advice. And welcome to the party!

Novato Real Estate Market Update (November 2012 Novato Home Sales Report) | Kyle Frazier, Pacific Union International

Pacific Union International | Novato Real Estate Market Update (November 2012 | Novato Home Sales Report). Incredibly low inventory, historically low interest rates, a growing pool of “ready, able, and willing” buyers, are combining to make 2012 a pivotal year for Novato real estate. While the jury is out as to where the economy is heading with the looming fiscal cliff and worldwide debt crisis, there is growing perception among buyers (note: perception is reality in real estate), that the time to buy is NOW.

October 2012 sales numbers for Novato, CA continue to impress (we had 56 trades — the most since 2005). Buyers are moving very quickly on well-priced and/or unique real estate opportunities. The average sale price was $675K in October 2012 and continues to creep higher if examined a 90-day rolling basis (month to month fluctuations are of little analytic benefit as the composition of closed sales is erratic). Importantly, October 2012 sales included 15 homes which sold for $750K or more in Novato (of these, 4 were over $1 million and another 3 homes are currently in escrow).

October’s Novato real estate sales averaged 100 days on market, were about 2,426 sq. ft., and averaged roughly $293 sq. ft. Novato’s absorption rate (e.g., number of months’ inventory of homes for sale based on last month’s sales totals) is extremely low with just over 1 months’ worth of available inventory overall (a mere 65 single family homes are actively for sale in Novato). The hottest component of the Novato real estate market (as always) is the entry and move-up levels — homes priced under $500K — 84% of these homes are in escrow — it has been over 70% for months). It remains an extraordinarily strong sellers’ market all the way up to about $750K, where 54% of homes are in escrow.

Below are the percentages of homes in escrow in each of Novato’s major price bands:
?84% of homes priced under $500,000;
?54% of homes between $501,000 and $750,000;
?55% of homes between $751,000 and $1 million;
?25% of homes between $1 million and up.

Of the 54 homes that sold in October 2012:
?12 homes were priced under $500,000;
?38 homes priced from $501,00 to $1 million; and
?4 home priced from $1 million and up.

Homes in The Landing at Hamilton Field, Breakers at Pointe Marin, Marin Country Club, Rush Creek, and Bel Marin Keys generated the most calls and showings this past month. If you would like me to run the exact numbers for your Novato neighborhood 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 J.D., Broker, Realtor, Certified Residential Specialist (CRS), and a Certified Luxury Home Marketing Specialist (CLHMS), with Christie’s Great Estates | Pacific Union International Real Estate. It is always my pleasure to be of service.

The Landing at Hamilton Field — NEW CONSTRUCTION. Prices start in the mid – $700?s. We have just one home left (5 beds, 3 baths, 3,071 square feet) priced at $920K. Please call me at (415) 350-9440 for more information. Or visit our website atwww.TheLandingNovato.com.

235 Crest Road, Novato | Iconic Estate | Napa in Marin

235 Crest Road, Novato

Listed at $3,995,000

Click HERE for photography

A rare opportunity presents itself in the offering of one of Marin county’s most iconic estates. Updated with classic, fine finishes, the outstanding one level residence boasts grand scale, optimal light and extraordinary workmanship throughout the +- 7,760 square foot estate. Intricate, stepped moldings, coved ceilings, parquet wood floors, french marble fireplaces and tall “walls of glass” define the main living spaces. The residence has been regularly used to host major charitable fundraisers, and cultural events, and can easily accommodate 300-500 person events. Designed for total indoor/outdoor living, all main rooms open to the beautiful inground pool and side yard/gazebo areas. Outstanding 360 degree views extend from the rolling hills of Sonoma County to the waters of the San Francisco Bay. Perfectly site placed on +- 20 acres with sprawling areas of flat, usable land, the residence also offers the new owner/s complete privacy and quiet. The outstanding grounds include a beautifully designed oval in ground pool, elevated spa, large picnic area, and multiple, mature garden area and orchards. Optimally located just minutes from Central Marin and downtown Sonoma, the home is also in close proximity to multiple neighboring recreational opportunities which include Stone Tree Golf Club, the Petaluma Marina, Sears Point Raceway and the nearby gateway to the infamous Napa Valley wine country. The residence is also located just minutes from the private Gnoss Field Airport.

Click HERE for photography

Presented by Kyle Frazier & Tracy McLaughlin, Pacific Union International

482 Fairway Drive, Novato, CA | Classic Country Club Home For Sale

482 Fairway Drive, Novato, CA

$1,499,000

Click here for VIDEO

This elegant 5 Bedroom, 3.5 Bath, one-level ranch style home, was renovated and expanded by the current owners who spared no expense in crafting a transcendent environment equally suited for entertaining and for comfort. It reflects masterfully executed finishes and architectural details rivaling Marin County’s finest homes.

Kitchen

• Renovated in 2010
• High, coved ceilings, with speakers, soffit lighting and extensive recessed lighting
• Calacatta marble slab countertops and backsplashes
• Stainless appliances including Viking Professional double ovens and 8 burner grill with griddle, built in Miele microwave, Miele espresso machine, Kitchen Aid built-in refrigerator, dishwasher, separate dual drawer dishwasher, and warming oven
• Large, deep, single basin Blanco sink with Blanco faucet featuring a pull out spray hose and a disposal equipped with an air switch
• Large Chef’s Island with seating area, storage, and prep sink
• Contemporary cabinetry with under-cabinet lighting, soft close drawers, sliding spice racks, pull outs, and more

Master Suite

• Great scale with vaulted ceiling, advanced lighting features, electric window shades, Anderson double door slider, extraordinary walk-in closet with sun tubes and extensive built-in shelving, hanging, and storage systems

Master Bath

• Tumbled marble heated floors
• Venetian Plaster walls
• Remote controlled shade above the oversized tub with marble top
• Dual undermount stainless sinks separated by black granite
• Drawers with soft-close hardware
• Alder cabinetry
• Wainscoting in the water closet
• Step-in shower with tumbled marble flooring and surround

Back Yard

• Outdoor kitchen with built-in BBQ, sink, ice maker, refrigerator, and warming oven. The counter top surface is formed, colored concrete with a tile accent back splash.
• Elevated, natural gas fire pit with bench for sitting and is large enough to allow for several outdoor couches and chairs
• Outdoor speakers
• Sport court with basketball hoop
• Hot tub
• Large grass area, fountain, dog run, enclosed storage area, gate to the golf course, and immaculate landscaping on automated irrigation and with extensive decorative lighting

Other Rooms

• Dining Room with architectural coved ceilings, chandelier, designer soffited lighting scheme, speakers and a wood Anderson slider to the fire pit area in the Back Yard
• Family Room is open to the Kitchen and includes: surround sound with center channel and bass, random plank oak floors, sky light, 2 dual zoned SubZero wine chillers, an undercounter refrigerator, hand picked granite counter with eased edges, and cabinetry for storage. Next to the outdoor kitchen which is accessed via the wood framed Anderson sliding door
• Living Room with stone fireplace, mounted flat screen television, crown molding, and ample recessed lighting
• Powder Room with Venetian plaster walls, limestone sink, tumbled marble floors and sconce lighting
• Office (could be bedroom) with 2 work stations, extraordinary cabinetry, and a superlative lighting system that incorporates pendent lighting.

Enhancements and Conveniences

• Newer long-life concrete fiber siding
• 200 amp electrical service, CAT5 wiring, and updated electrical system
• Dual zone heat and Air conditioning
• Tasetfully appointed secondary baths and large bedrooms
• Laundry Room with deep utility sink, washer / dryer, and lots of extra storage (including a closet)
• Finished Garage with protective flooring system, storage, work bench, and dual access points to storage areas above garage
• Flooring choices include random plank oak floors, marble, oversized tiles, and high-end carpet in several of the bedrooms
• Dozens of recessed lights added throughout the home. Many of the lights are directional and can be trained on adjacent walls and spaces to highlight art and other displays.
• Sound system with speakers in several common area, including the back yard. This music system can be controlled from several convenient locations
• Crown molding in many rooms
• Plantation shutters were installed in rooms facing the street
• Much of the exterior lighting and plantings were refreshed, added, and/or replaced in the past several years
• Exterior was painted in 2011
• Smoke detectors are hardwired
• Skylights and sun tubes are present in several locations, including Master Closet
• Baseboards and door casings custom crafted from alder
• Large capacity water heater equipped with a recirculating pump on a timer

Exclusively listed by Kyle Frazier, Pacific Union International, Marketing and Negotiations Specialist

Pacific Union International | Novato Real Estate Market Update (June 2012 Novato Home Sales Report)

Despite the ongoing trend of historically low inventory, May 2012 was another gangbuster month for Novato, CA real estate sales (we had 54 trades — one less than the amazing April 2012 number). Buyers, obviously, remain engaged in the market. And they are moving very quickly on well-priced and/or unique real estate opportunities.  The average sale price was $634K in May 2012  – significantly higher than the previous month (this is due to a couple of large sales — more on that below).

NOTE: In May 2012, 12 homes sold for $750K or more in Novato. Five of those 12 homes were listed and sold by me. This includes one of Novato’s only $2 million sales in the last several years. If you are thinking of selling your luxury Novato home, please call me as I specialize in this market segment.

May’s Novato real estate sales averaged 83 days on market, were about 2,171 sq. ft., and averaged roughly $303 sq. ft. Novato’s  absorption rate (e.g., number of months’ inventory of homes for sale based on last month’s sales totals) continues to be extremely low with just under 2 months’ worth of available inventory overall (a mere 100 single family homes are actively for sale in Novato). The hottest component of the Novato real estate market (as always) is the entry and move-up levels — homes priced under $500K — 77% of these homes are in escrow — it was 76% last month). It remains an extraordinarily strong sellers’ market all the way up to about $750K, where 51% of homes are in escrow.

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

?77% of homes priced under $500,000;
?51% of homes between $501,000 and $750,000;
?36% of homes between $751,000 and $1 million;
?27% of homes between $1 million and up.

Of the 54 homes that sold in May 2012:

?16 homes were priced under $500,000;
?34 homes priced from $501,00 to $1 million; and
?4 home priced from $1 million and up.

Homes in The Landing at Hamilton Field, Breakers at Pointe Marin, Marin Country Club, Rush Creek, and Bel Marin Keys generated the most calls and showings this past month. If you would like me to run the exact numbers for your Novato neighborhood 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 J.D., Broker, Realtor, Certified Residential Specialist (CRS), and a Certified Luxury Home Marketing Specialist (CLHMS), with Christie’s Great Estates | Pacific Union International Real Estate. It is always my pleasure to be of service.

The Landing at Hamilton Field — NEW CONSTRUCTION. Prices start in the mid – $700?s. We are SOLD OUT of current inventory (although we do have a model home priced at $840K), but will have three unsold homes available in September (we are currently building seven homes, but four of those are SOLD). Please call me at (415) 350-9440 for more information. Or visit our website at www.TheLandingNovato.com.

10 E. Barberry Place, Southern Novato (Pointe Marin Home For Sale and Neighborhood Video)

10 E. Barberry Place, Novato (Pointe Marin), CA (Homes For Sale – Pacific Union & Kyle Frazier)

Immaculately maintained home in a “Best Of” location at the end of a quiet and level cul-de-sac. Large back yard with afternoon sun. One block from the park. Excellent flow. Great home for entertaining. Click HERE for more pictures.

Superior finishes inside, including: granite, berber, hardwood, stainless appliances, plantation shutters, steel balusters, and lots of crown molding. Also, you will find a Formal dining room, Butler’s Pantry with wine chiller, 2 fireplaces, 3-car garage, HUGE Master Suite with extraordinary bath and walk-in closet, bedroom with full bath downstairs, two more en suite bedrooms upstairs, and a large loft.

To learn more about Southern Novato’s highly desirable Pointe Marin neighborhood, please click below on our Pointe Marin video courtesy of www.ImagineMarin.com.

Homes in Southern Novato, including: Pointe Marin, Country Club, Bel Marin Keys, and Hamilton Field are my specialty. If you would like me to run the exact numbers for your Novato neighborhood 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 J.D., Broker, Realtor, Certified Residential Specialist (CRS), and a Certified Luxury Home Marketing Specialist (CLHMS), with Christie’s Great Estates | Pacific Union International Real Estate. It is always my pleasure to be of service.

Marin Luxury Properties Report Pacific Union – Christie’s International Real Estate | Marin County, CA Luxury Home Sales (January 2012)

Pacific Union Int’l – Christie’s Great Estates | Marin County, CA Luxury Home Sales (January 2012) — Luxury home sales have maintained a solid pace over the past quarter (in December 2011, Marin County saw 9 sales over $2 million). It remains very clear that buyers will act quickly, even in the luxury home realm when they feel a particular home reflects clear value and/or possesses unique and desirable characteristics. Extraordinary opportunities are literally around every corner for buyers who can stomach uncertainty — although, it appears, the level of uncertainty has diminished fairly significantly over the past 6 months. Indeed, pricing in the marketplace (especially for homes that started off overpriced) remains on the soft side and “value” is evident in virtually every locale and every price segment of the luxury home market in Marin.

In line with normal seasonal adjustments (we are approaching the end of the slow season), the inventory of luxury homes remains constricted with just 81 properties actively listed over $2 million in Marin. This inventory level is lower than years past as prices have declined substantially in many markets (e.g., such that homes that priced at $2.25 million in 2006 are now priced below $2 million). Moreover, to the extent sellers do not have a compelling reason to sell now, most are waiting for prices to recover rather than trade in today’s market.

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

By: Kyle Frazier, J.D. & Broker, Certified Luxury Home Marketing Marketing Specialist (CLHMS), Certified Residential Specialist (CRS), Realtor with Pacific Union | Christie’s International Real Estate. Call Kyle Frazier at 415/350-9440 for more luxury home market information in Marin County, California (the San Francisco Bay Area’s “North Bay”).

The Landing at Hamilton Video Profile (January 2012) | Kyle Frazier | Pacific Union International

The Landing at Hamilton (Hamilton Field), Novato, CA (Video)
New Homes Construction in Marin County, CA just 16 miles north of San Francisco and the Golden Gate
Prices begin in the mid-$700′s

Call For An Appointment:

Kyle Frazier (415) 350-9440
Pacific Union International

2825 Vineyard Road, Novato | Private & Exclusive Gated Estate on 138 Acres | Extraordinary Views

2825 Vineyard Road, Novato — Once-In-A-Lifetime Opportunity | Private & Exclusive Gated Estate on 138 Acres | Custom Home ~7,000 square feet | Finest Finishes | Extraordinary Views

This magnificent legacy estate home sits on a private, lofty ridge-top with incredible jet liner views. The extensive gated grounds cover approximately 138 acres of rolling hills, creeks, and valleys. The natural beauty of the setting is breathtaking. For more pictures, click on NovatoEstate.com.

The home itself is expansive, yet intimate and relaxed. The floor plan is extremely desirable with the Master Suite on the main level, along with the Kitchen, Dining Room, Family Room, Office, 3 more Bedrooms (including an en suite with incredible views and ceiling fan), Laundry Room, Powder Room, Butler’s Pantry, Mud Room, and Garage. There is also a very large suite with its own bath at the far end of the home on a separate level, which would be perfect for a au pair or guest quarters. The lower level features an en suite Bedroom that is currently being used as a gym (steam shower in the bathroom), Media Room, Game Room, and extensive storage. The lower level provides a perfect escape.

Inside and out, you will encounter the finest finishes and boundless thoughtful features, such as a slate roof, sport pool, extensive crown moldings, recessed lighting, Vantage lighting system, whole house music system, 2 tank-less water heaters, 2 Heat/AC environments, central vacuum, smart-wiring, outdoor kitchen and extensive patios with extraordinary views, 6-car garage, efficiency enhancing attic fans, R-19 insulation, and more.

This home has universal appeal, but will hold special attraction for equestrians, vintners, artists, and privacy seekers. While it is seemingly in a different world, it is just a couple minutes from Pleasant Valley Elementary, Sinaloa Middle School, shopping, Indian Valley Golf Course, stables, and more.

Exclusively listed by Kyle Frazier, Pacific Union | Christie’s International Real Estate for $2,499,000.

About Indian Valley, Novato (Courtesy of www.Novato101.com)

Space, privacy, golf, horses and horse properties, hiking and biking trails, big skies, oak trees, and fresh air … these are some of the words that come up when playing word association with Novato’s irresistible neighborhood of Indian Valley (there are also two very desirable sub-neighborhoods called Wild Horse Valley and Verrisimo Valley, each is a private refuge to corporate and musical icons seeking peace and relative anonymity).

This area of Novato, California, is also known for its luxury homes of all styles — equestrian estates, vineyard estates, gated properties with tennis courts, etc. Although predominantly ranchers (e.g., one-story homes in an L or U shape), one modern-styled home on 2 acres (this property was like a resort destination) recently sold for $1.735 million. Many Indian Valley homes are located on gently rolling hillside lots with sweeping views.

While known as a sort of horse property neighborhood, which it is, Indian Valley is also quite close to shopping and other conveniences–it is not remote. In addition, the neighborhood feeds into Pleasant Valley Elementary School and Sinaloa Middle School, which are both held in high esteem. And, of course, the children of Indian Valley residents are also eligible for the lottery to get into Marin County’s highest scoring elementary school–Rancho Elementary (which outscored Bacich, Reed, and Ross elementary schools this past year).

My name is Kyle Frazier and I am an expert on Novato’s luxury neighborhoods, horse properties, view homes, tennis court / recreational homes, and new construction. I am a broker and CRS (Certified Residential Specialist) with Pacific Union | Christie’s International Real Estate. Please call me at  (415) 350-9440 if you would like to discuss Indian Valley or Novato, in general. It is always my pleasure to be of service.

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