Another positive trend since July 9th, 2008 statistics.  Total inventory dropped by 11 while pending sales units remained the same!  Big change in percent pending is the starter single family homes, with a drop of 8%.  My theory is that Locaton, Location, Location.  SFR in desirable location, shows nicely and priced right are moving still.  However, many starter homes that sit on the market for a while can have a few problems such as location (next to freeway, in flood zone), a big one), , unless priced extremely low, the buyers are shy away from them. '' Big gain in pending sales is in the low to median price range and people who used to not being able to purchase, are looking at such option now; hence a healthy increase in pening sales for this price range.  Check with your trusted R... 07/23/2008

As a San Marin Improvement Association's member, I went to the preconstruction meeting for 200 San Marin Drive Project today.  200 San Marin Drive is now a the vacant lot situated at the south east corner of San Marin Drive and San Andreas Drive.  Designated as a gas station, it will now be a single story, 6,700sf. medical building planned for four medical or dental offices serving local community. Others present were two San Andreas HOA members, Chip Fuller, Vice President of Catlin Properties, owner of 200 San Marin Drive and Aton Seikowitz of Selkowitz & CO., Inc. General Contractors.   The plan is to start construction as soon as possible, either the week of July 28th or August 4th.  The entire project is expected to be around 7 months long, with the first phase having the most impa... 07/22/2008

Everyone has been waiting, hoping, praying that the new shopping center outside of Hamilton Field would include some good dining fare (I mean, nothing could beat Nave Lanes, but food is a good alternative). Today it was announced that Toast Cafe, La Boulange and Sonoma Latina Grill will be moving in. We already knew about the mega-deluxe Safeway (with gas station), Peets Coffee & Tea, Wells Fargo, Starbucks, and Jamba Juice. Safeway is slated to open August 22nd. As readers of my blogs know, Hamilton Landing and Hamilton Marketplace combine to make Southern Novato's Hamilton Field a truly special place. Everything you could need is right there, along with easy access to HWY 101, outdoors activities of all kinds, and a vibrant and friendly population. The neighborhood includes more than ... 07/21/2008

                                        Another positive trend since June 25th, 2008 weekly statistics.  Total inventory actually dropped by 1 while pending increased by 7.  From a price range point, starter condos/townhomes as well as starter single family homes up to $800K, while $800K and up homes suffered slightly.  With Fannie Mae tightening guidelines for people who are thinking about using their current home as a 2nd home or investment property, this might be the time to lock down that loan and purchase your dream home.  Check with your mortgage broker for the details and how that affect the specific lenders they work with. Check with your trusted Realtor about inventory on the market and what's the best house for your needs and wants!   category   Total Units/ In Escrow   % Acti... 07/13/2008

As of July 12, 2008 25% of available listings in Novato are in escrow. For the month of June 2008 48 (approximately 22% of all home sales for the County of Marin this month) homes sold in the town of Novato (rated by CNN/Money as not only one of the best places to live, but also one of the best places to launch a new business) for an average final selling price of $630,833. The average original asking price of these homes was $694,254. The range of final selling prices for these homes was from a low of $174,900 to a high of $1,700,000. It took these homes an average of 115 days to sell. Of the 48 homes that sold 2 sold at their original asking price and 5 sold for more than their original asking price. For more information about this area visit my website or contact me directly. If you ... 07/12/2008

In today's Frank Howard Allen Office meeing, Andy Shine, mortgage broker with Residence Pacific Mortgage, discussed the new guideline by Fannie Mae, which will be effective on August 1. The guidelines affect loans for purchase a new home while retaining the current residence as 2nd home or investment porperty. Might be time to buy the house you always wanted if you are sitting on the fence. Here are the details: Situation New Requirement Current Principal residence is pending sale but the transacction will not be closed (with title transfer to a new owner) prior to the new transaction  Both the current and the proposed mortgage payments must be used to qualify the borrower forthe new transaction Coversion to a Second Home - Both the current and the proposed mortgage payments must be use... 07/10/2008

                                                                   Novato Real Estate Market Trend, June 25, 2008 As can see from the list below, the entry level Novato homes are enjoying a high percentage of pending sale than two weeks.  With the starting home price drops in Novato, and the avaiability of Short Sales and Bank Owned (REO) properties on the market, the first time homeowners and investors are out looking and actually buying.  Several nicely priced mid range and higher end homes ($800K and up) are quickly claimed by ready buyers at the beginning of the summer housing season; a great time to shop and move.  One reason of seeing increasing inventory, higher DOM (Days on Market) and higher pending rate is houses take longer to get out of pending status due to the much longer ... 06/28/2008

Interesting Market Trend since April 30, 2008 As there are more Short Sales and Bank Owned (REO) properties on the market, the trend is driving prices for short sales and REO properties downwards; attracting bargain hunters while higher end properties move slower and more cautiously.    Coupled with the new programs since the announcement of the new Jumbo Loan limits, the consumers are out shopping again and will not wait when the right property comes along.  Instead of two loan threasholds, conforming (up to $417,000) and Jumbo (over $417,000); there are now three brackets - Conforming (up to $417,000), Super Conforming (between $417,000 and $729,250) and Jumbo ($729,250 and up).  The consumers are certainly taking advantage of that!  For the lower end properties, some borrowers are c... 06/22/2008

As of June 7, 2008 25% of available listings in Novato are in escrow. For the month of May 2008 34 homes sold in Novato for an average final selling price of $715,276. The average original asking price of these homes was $798,264. The range for final selling prices was from a low of $280,500 to a high of $1,310,000. It took these homes an average of 105 days to sell. Of the 34 homes that sold 4 sold at their original asking price and all others sold for less. For more information about this area visit my website or feel free to contact me directly. 06/07/2008

Looking for something fun to do in Novato?   If live musical performances, boutique shopping, and feasting on local delecacies (food, wine and beer), then mark your calendars for the 25th Novato Street Festival in Marin County. The Novato Chamber of Commerce will be hosting their annual street festival June 7-8m 2008.    This special event will feature more than 200 exhibitors offering the best of local art, wine and music (including some great bands from the 80's - The English Beat + Bonnie Hayes).     Families will also enjoy this Marin street festival which will include family-friendly events such as a petting zoo, pony rides, train rides, face painting, games, and much more.  Event and venue details are as follows: WHAT:   25th Annual Novato Street Festival WHEN:   Saturday, June 7t... 05/26/2008

As of May 10, 2008 20% of available listings in Novato are in escrow. For the month of April 2008 an encouraging 46 homes sold in Novato, for an average final selling price of $594,460. The average original asking price of these homes was $636,218. It took these homes an average of 96 days to sell. Now here is where it gets interesting:  Of the 46 homes that sold, 5 sold at their original asking price and a very encouraging 9 sold for more than their original asking price.  Looks like people have been reading CNNMoney.com.  For more information about this area visit my website, or feel free to contact me directly. 05/10/2008

87 Portsmouth Drive in Novato, California!  Located in the prestigious "Sunny Cove" community in Southern Novato. This elegant 4 bedroom 3 and 1/2 bath home has it all! Over 100K in upgrades.  Backs to open space. Open Sunday April 20th, 2008 from 1 to 4pm.   Truly the "Jewel" of the neighborhood!  This is the one you've been waiting for!  Sophisticated four bedroom and two and one half bath home with many upgrades, and designer touches.  This home has a warm inviting quality with a well thought out floor plan that flows out onto a private flagstone patio surrounded by lush landscaping.  A fountain completes this wonderful outdoor setting!Offered for $825,000For more information contact the listing agent, Kirsten Wolfe at MarinRealEstate@gmail.com and check out the video! 04/14/2008

I am fortunately enough to be one of San Marin High School (Novato, Marin County, CA) Robotics Club, Penguin Empire team's mentors.  This rookie team won the 2nd place in the First Robotics Compeitition (FRC) Davis Regional event in March, 2008; an exciting event - Check out the Video. The chief mentor, Dave, in search of inspriring Robotics videos for the students and mentors alike, came upon a video of this robot.  Thought you'd all love it.The Coolest Robot Ever! is the title of the email from Dave; and I would have to agree with him :-)   Duke would want one.   04/10/2008

As of April 5, 2008 only 21% of available listings in Novato are in escrow.For the month of March 2008 45 homes sold in Novato for an average final selling price of $705,528.The average original asking price of these homes was $769,364.It took these homes an average of 108 days to sell.Of the 45 homes that sold, 4 sold at their original asking price and 1 sold over.For more information about this area, visit my website, or feel free to contact me directly 04/05/2008

Novato Real Estate Market Overview, Week of March 19, 2008It's been almost two months since I last posted the market statistics for the Novato Real Estate Market (part of Marin County).  There is a noticeable improvement on the market - Other than a couple of price ranges, most of the others increased sales pending percentage anywhere form 10% to 20% increase in sales for various price range even as the inventory has grown.  My office reported an active March, a lot of buyers out there looking for 'bargains' in Marin county, and Novato is where  you will find it!We are Optimistic! Want to know the market statistics or go out and see a house or tow?  Just give me a call!categoryTotal Units/In Escrow% Active% PendingAll SFD's and CID's376/8278%22%SFD's264/4981.5%18.5%CID's112/2271%29&  $0... 03/21/2008

  As a National Mortgage Banker, Ascent Home Loans has provided innovative lending solutions for over 10 years. With our state of the art technology, I can give you quick loan decisions when you need to refinance, or fast pre-approvals that will give you that edge when negotiating for a new home. At Ascent Home Loans of Santa Rosa CA, I want to help you make the right choices when it comes to selecting the correct mortgage for you and your family. How do I do this?  I listen to my clients. With the right questions being asked, a client can provide a wealth of information on their future home loan and investment needs. I unlike other lenders, help you choose the right loan program that best fits your needs, not ours. Now, I can be like other every other mortgage company and tell you we h... 03/21/2008

With less than 30 days left until April15th, many Novato homeowners are scrambling to get their paperwork together for their tax preparer appointment. In all the frustrated and anxiety filled moments before the meeting, many homeowners may forget a few of the tax deductions they may be allowed. As a reminder, here are just a few that may help you with your income taxes this year. Be aware that before you make any of these deductions, you need to speak with a tax professional first before doing so. 1. PMI - Private Mortgage Insurance is an extra insurance that lenders require when a homeowner puts less than 20% down payment on a home. in essence, lenders would prefer an 80% Loan-to-Value, however those borrowers with an LTV higher than 80% must pay an insurance premium each month. But th... 03/21/2008

As of March 8, 2008 22% of available listings in Novato are in escrow. For the month of February 2008, 26 homes sold in Novato for an average final selling price of $662,735. The average original asking price of these homes was $744,147. It took these homes an average of 104 days to sell. Of the 26 homes that sold, 2 sold at their original asking price and 2 sold over. For more information about this area, visit my website, or feel free to contact me directly. 03/08/2008

With the new stimulus package being nearly passed by the President, now is the time to start thinking about refinancing out of those higher interest option arm rates or purchasing a new home. We all know how California has suffered through this housing slump, mainly because of our higher median home prices. The majority of Californians could not even think about refinancing their homes due to the fact that our homes are still to far above the conforming loan limit of $417,000. While we sat and watched many parts of the country such as the Midwest and Southern portions of the US refinance into lower conforming rates, we were basically held hostage by the secondary markets where loans are bought and sold. Since the credit crisis became news, the secondary market has virtually closed down ... 02/09/2008

As of February 2, 2008 18% of available listings in Novato are in escrow.For the month of January 2008 only 14 homes sold in Novato, for an average final selling price of $661,143.The average original asking price of these homes was $750,571.It took these homes an average of 133 days to sell.Of the 14 homes that sold, all sold for less than their original asking price.To learn more about this area, visit my website, or feel free to contact me directly. 02/02/2008