Novato’s Priciest Homes: 70 Samrose Drive

Every week, we feature one of the most expensive homes for sale in Novato.

This light-filled Novato house, built in 1995, is listed for $900,000.

It has four bedrooms, three bathrooms and is 3,036 square feet in size.

The agent notes that finish work was performed by master carpenters and that there is custom millwork throughout the house. The house also had wood flooring and Italian inlaid tile. There are two fireplaces and a solarium and the neighborhood is considered prestigious, with hill and mountain views.

The property is represented by Century 21 North Bay Alliance. For details, visit the house’s AOL Real Estate page.

Sylvia Barry November 18, 2012 at 03:54 PM
Just to clarify for Novato Patch readers (not knowing the criteria for selecting houses for this weekly blog post: There are currently 24 single family residences in Novato that are actively for sale (meaning not under contract) priced $900,000 or higher; with 18 over $1mm. This is out of 66 total single family residences for sale. This house is just above 65 percentile in price range.
Bob Ratto November 18, 2012 at 04:10 PM
Sylvia Isn't 66 single family residences a really low number?...I thought about 2/3 (66% or so) of the residents are homeowners, so that just seems like a really low level of homes on the market
Sylvia Barry November 18, 2012 at 04:25 PM
Bob: Yes, we have very low inventory right now. Other than the 66 active ones, we also have 67 SFRs that are under contract (not pending - meaning removal of all contingencies); with 2 in the $900K range and 4 over $1mm. Not many short sales, very few bank owned. Seems to me lenders are either easier or are encouraging home owners to do loan modifications and are following the new law where they can't put a house on auction block while the home owners are either doing loan modifications or short sale. Same as my previous posts, bread and butter homes are moving fast, but so are well priced, well appointed higher end homes.
Kristen K November 18, 2012 at 04:50 PM
Great job to SMARTER BOLDER FASTER Century 21 NorthBay Alliance Agent Roberta DiPrete.
Dave Robertson November 18, 2012 at 09:08 PM
Home prices have gone up, even on the higher end ($900K is not that high for Novato). As Sylvia has said, prices are up, and inventory is down. Low inventory is driving prices up everywhere, not just Novato or Marin. IMO, the housing market is far from recovered. When prices go up high enough, it will be attractive for more people to put their homes on the market and they will. Banks with inventories of foreclosed homes may do so as well. Inventory will go up - price will go down, and we will be back to where we were a year or two ago. So when our national politicians say our housing market is recovering it is a major overstatement. When more people start putting houses on the market again - prices will go down, but credit will remain difficult and many people will still be underwater. The market will likely go "up-down" for many years. Right now it's a good time to sell, not-so-good time to buy. In a year those may be reversed. I would also expect that Novato is now getting a reputation for excessive low income housing, so certain people may look elsewhere. I guess all of this is what they call the "new normal."


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