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Novato Market Overview, Week of January 23, 2008

At the end of January, 2008; Novato is still in a buyers market.  The good news for the sellers is that the inventory is about 1/4 (90+ units) lestt than that four months ago, in September, 2007.  The % in Pending also increased in almost all categories, even though some are very slightly.

My office reported a healty January, both in # of listings and # of getting into escrow.  A very positive and encouraging sign for all!

• Buyer's Market  < 25%
• Neutral                25% - 40%
• Seller's Market   > 40%

It is official now - Marin county is one of the wealthies county in the country - Forbes Magazine ranks Marin the 15th wealthiest county in the U.S.  

However, Marin still does not compare with the nation's capital (Washington D.C) where there are three wealthiest counties in the county - wonder where all that money comes from!   The reankings are based on median household income. 

A few others in the bay area - Santa Clara County, ranked no. 4, and San Jose, ranked 17 respectively. 

Check out the Forbe's America's Most Lucrative Neighborhoods - places S.F.Grove and Webster street neighborhood with a 2006 median home price of $1.28M

My home town, Novato, the north most suburb in Marin county, just north of the Golden Gate Bridge, has just earned the distinction of the "Best Affordable Suburbs in California in 2007" from Business Week.

                       Novato Neighborhood - Partridge Knolls

We have lived in Novato for the past 10 years, and I can attest to the Marin IJ Article "Novato a 'besaffordable' town"

When you drive towards Novato from 101, you will go through a section of 101 framed by breathtaking hills on both sides of the highway.  Then the hills open up to unveil Novato.

Look around, there are open spaces all over with many hiking/biking trails, Rush creek is near by with dedicated marsh area for local birds and wildlife.  Indian Valley, Green Point, Black Point are all famous for the surrounding view and horse properties; Marin Country club has a warm micro climate, again surrounded and protect by hills; Stafford Lake holds annual Rock and Blues By the Lake, Labor Day Fire Work and many other local events;  renovated Old Town hosts farmers market, local festivals and plenty of specialty boutiques; Vintage Oak offers discounted shopping attracts buyers from around the county,  There is even one of the best dog parks in Novato.  These are just a few of the distinct areas in Novato.

The schools are outstanding, with many excellent, distinctive and diversify programs offered.  There are several charter shools, GATE program, alternative teaching methods, etc.  There are some of the best performing arts programs at different school levels as well as sports, Academy, visual arts and challenging Honors and AP programs for students with different needs and wants.  Outdoor activities are plentiful - Hiking, Biking, several golf courses, tennis clubs (private and public), horseback riding, boating; Novato is also minutes away from west Marin and other bay area beaches.

The choice is unlimited.  Give me a call when you are in town; come and check it out.

The Marin Inventory in New Years day, 2008.   Some areas are doing quite nicely, others lagging behind.

We will watch the market closely in 2008 and keep you informed!

This is not real estate related, but I thought it would be nice to post this as Since this is the time we are making purchases and/or paying for our indulgences during the holidays.

I received two email alerts from PayPal thanking me for the purchase and asking me to go to the account to make sure the pruchases are fine.  That's last week.

I just recemved another Urgent Message from Teacher's Credit Union asking me to check on my billing irregulatiries - No, I am not a teacher and I don't belong to teacher's credit union. 

Just want you all to be more careful when receiving email such as this.  Do not click on suspicious links, and don't give out any personal ligniform unless you know the source.

Happy New Year!