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Real Estate and Housing

• Housing in Novato
A desire among Bay Area residents to live in Northern Marin County has created a steady demand for Novato housing. The median home price of single family residences in Novato in 2013 was $743,000 and the median price of a condo was $336,000.

With Novato’s award-winning schools, close proximity to San Francisco and dedicated open space, Novato’s a haven for families and retirees alike. The average age of Novato residents is 40.7 years.

Novato enjoys a strong ownership market and it is a well-known fact that home ownership is integral to the fabric of a community. Sixty-seven percent of Novato homes are owner occupied, and the 4.1 percent vacancy rate for owner-occupied and rentals stands at half that of countywide and statewide numbers. While home prices continue to climb in Marin over time, this is an opportune time to get into the resilient real estate market. The median rent income is approximately $1,950 a month, but truly is determined by supply and demand.

Novato has a strong network of experienced real estate and lending professionals to assist with the purchase and finance of a home here in the gorgeous north bay setting of Novato.

• Communities and Developments
Clark Blasdell, President and CEO of Northbay Family Homes (NFH), a 30-year-old Novato-based regional affordable housing company served as a development consultant for the affordable home development at the former Hamilton Air Force Base.

The pioneering project was the first civilian re-use of a military base in the nation. Today Hamilton Field boasts a balance of 2,200 homes and the creation of 2,200 jobs, amid a growing climate of business development.

The workforce housing component was managed by the nationally-awarded builder partnership of Shea Homes and Centex Homes, which delivered 1,200 homes; of those 775 priced at workforce housing levels. Novato and its strong support from workforce housing advocates work to ensure a supply of homes affordable to the local workforce.

Northbay Family Homes (NFH) has made homeownership possible for over 350 families through its affordable homes at Hamilton Meadow Park. For over 30 years, NFH has facilitated the building of over 4,000 new homes with 2,000 that are affordable to local workforce families with an emphasis on increasing homeownership opportunities. NFH’s “First Time Homebuyer Program” continues to help young families and public employees realize their dreams of home ownership.

Suburban Alternatives Land Trust (SALT) is a nonprofit community development organization incorporated in 1998 by Northbay Family Homes (NFH) as a support organization of NFH. SALT looks for development projects that provide homes, jobs, recreation, agriculture or open space to meet communities’ needs. Novato is also the pilot for the Employers Empowering Homeownership initiative, an education and leveraging model to increase the opportunity for ownership for the workforce of the North Bay.

Info updated and provided by Northbay Family Homes and Suburban Alternatives Land Trust

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