Mary Kay & Kathy Yamamoto

Properties that are 2 bedrooms, 1.5 baths in the 94903 zipcode vary greatly in price range going from $285,000 (the lowest sold price in the last 6 months) to list prices up to $400,000. Location is a very important consideration as is condition, square footage, and homeowner's association (regarding both reputation as to management, any construction defects, and amount of monthly dues). As we said earlier, we could give you a more definite price range if we knew where your unit was located and were able to see your unit.

We would also be able to advise you as to whether we thought it would be better for you to sell your property or rent it out and wait for the market to improve. Just let us know!!

Mary Kay and Kathy - Earlier today

Candy,

It would be very helpful to find out what complex your property is located. This will help us give you a more accurate value. The value also depends on the condition of your property, location of the unit and how well the HOA has been managed and run.

A foreclosure can effect the value of your unit however, if there has only been 1 and we can find other comparable sales to use that are of higher value than the foreclosure, then it may not have as much of a negative effect. It also depends on how long ago the foreclosure unit sold.

As far as renting is concerned, most properties are rented out vacant. The rental market has been healthy and the comparable rentals indicate you could rent the unit for approx. $1800-2000/month.

We would be happy to work with you to determine what would be best for you (sell vs rent) at this time. Please contact us at your earliest convenience. We look forward to hearing from you soon.

Best Regards,

Kathy & Mary Kay Yamamoto
RE/MAX of Central Marin
(415) 258-1505 - Yesterday, 13:15

There are many bank owned houses in Novato at all different price levels from the high $300,000 range to over $1,00,000. What is your price range?? How many bedrooms and baths do you need?? Do you have any specific square footage requirement or any other special needs?

Kathy and I list REO (bank owned) properties as well as representing buyers who want to buy them. We would be happy to send you listing information regarding bank owned properties by e-mail once we have a better idea of your minimum specific needs. Let us know!! - Fri Nov 14 2008, 10:37

John,
Hopefully your agent included an inspection contingency in your offer. If there is one, and you are still within your inspection contingency period, you can go back to the seller and ask to have some of the things done, ask for a credit, or back out of the contract due to your dissatisfaction with the condition of the property. Most contracts have protections for the buyer built into the contract such as inspection contingency, loan contingency, appraisal contingency, the right to review the preliminary title report, the right to review the homeowner's documents, etc. When your offer was written and you signed it, all of this should have been explained to you. As other agents have said, you need to talk to your agent and get a better understanding of the offer that you made!! - Wed Oct 29 2008, 12:51

Angela,
Bahia has had an issue with the lagoon being filled with silt and overgrown with weeds for many years. There was an ongoing lawsuit for years regarding the state of the lagoon and the inability to navigate the lagoon with a deep water boat. If you have ever been to the area, you can see that there were quite a few waterfront properties with boat docks. Since the developer didn't install a lock similar to the one on the main lagoon in Bel Marin Keys, the Bahia lagoon silted up quite quickly and had to be dredged quite regularly to be navigable. Property values for homes on the water were considerably higher than those not on the water, but as the lagoon became a marsh, those properties lost value. There was also the possibility of a huge assessment for property owners in Bahia when the lawsuit was in place, so there were a lot of negative things going on for many years.
I believe that the threat of an assessment and the pending lawsuit is no longer an issue, but property values in the area have suffered considerably over the years. With the lagoon no longer useable, I don't feel that the area is as desirable. The location isn't as convenient to amenities as other areas of Novato due to the fact that it's far enough away from most amenities that you have to drive.
Having been in the real estate business since 1980 and knowing that the market is softer in Novato than anywhere else in Marin, I would suggest buying in a location other than Bahia. I think that it will take longer for the prices to improve in that area due to the stigma that Bahia had for many years, so from an investment standpoint, it probably will take longer to come back than other areas. - Mon Oct 27 2008, 16:58

Kim,

If you contact us directly and provide us with your e-mail address we would be happy to provide you with a list of comparable properties to review and give you a price range of what we feel the home was valued at in the first quarter of 2008. We can also give you a current value if you would like. We look forward to hearing from you.

Best Regards,

Kathy & Mary Kay Yamamoto - Mon Oct 27 2008, 10:27