2022 National Real Estate Predictions (Our Sonoma County Results May Vary!)
2022 Real Estate Predictions: The real estate market in 2021 saw unprecedented highs here in Sonoma County. We enjoyed a golden year of home price appreciation, low interest rates and limited inventory. Creating the perfect storm for sellers to cash in on all the equity gained! With mortgage rates expecting to increase and many federal support and relief programs set to end in the new year, we are predicting the market will look a bit different by the end of 2022. Here’s what the future holds for real estate in 2022. According to Dr. Lawrence Yun, Chief Economist at the National Association of REALTORS® and industry leader, Brian Buffini, who’s renowned for his historically accurate market predictions. If you would like to see their video presentation from December, the link is here. Important: These trends focus on the market at the national level and trickle down to impact us locally. For a more in-depth dive on Sonoma County's local housing market stats. Visit our blog: Sonoma County Market Update | Q4 2021 1. Multiple Offers Still a Thing, But Not as Hectic Looking at the real estate’s performance heading into 2022, Yun stated that the multiple-offer frenzy that took hold in the spring of 2021 had died down with homes on the market a bit longer than before—but they are still selling fast. “People rushed to buy homes during the pandemic,” Yun said, pointing to a 7% increase in home sales from 2020 to 2021—from 5.7 million to 6 million, respectively. Yun predicted, however, that there will be a 2% reduction in sales this year as mortgage rates increase. Buffini predicted that by the summer of 2022, there will be less over the top offers as first time homebuyers will be pushed to their max with increased mortgage rates and higher inflation. 2. More Inventory in Spring 2022 The housing shortage in conjunction with high buyer demand increased competition throughout 2020 and 2021, though new construction of single-family homes has been increasing, and it is predicted that there will be more inventory in the spring of 2022 as compared to last year. Yun also indicated that more people are likely to list their homes now that federal support and mortgage forbearance programs are either ended or are slated to end this year. 3. Mortgage Rates Will Tick Up to Nearly 4% by the End of 2022 Mortgage rates are predicted to climb to 3.7% by the end of 2022, affecting first-time homebuyers...
7th Annual Client Appreciation Party (aka Pam’s Pie Party!)?
We want to say THANK YOU to everyone who came out to Pellegrini Winery celebrate our 7th Annual Client Appreciation Party! We love the opportunity to show our appreciation to our clients and those who referred business to us during this special time of year. Our business is almost entirely by referral and we so appreciate your support! Click here to view photos from our event! ...
Sonoma County Real Estate Closing 2021 Strong!?
It's our pleasure to bring you the Corcoran 2021 Q3 Real Estate Market Report. As we approach the end of a historic year for SonomaCounty real estate, 2021 sales activity remains steadfast. Home sales saw an increase by 4.5% since 2020’s third quarter and communities throughout Sonoma County continue to boast strong housing market sales. Watch the video below for a quick recap on what's happening in our local real estate market. The big news for Q3 is our market has fallen back into a more predictable seasonal pattern. We experienced a slight dip in the late summer months, due to vacation plans, and since Labor Day sales have picked back up debunking the myth that we may be headed for a market crash. By the end of September home sales were up 4.5% year-over-year and days on market fell 33.3% to 42 days. Additionally, homes sold for 101% of their asking price and inventory remained low at 1.2 months. What To Expect This Winter...
Leaves Are Falling ? But Home Prices Are Not! ??
Market Update: Is Sonoma County Real Estate Cooling? There's been a lot of buzz about a possible market slowdown in Sonoma County. To clear the air, below we've taken a closer look at the numbers over the past quarter to provide both clarity and insight into how we'll likely end the year. Here's what we found...
Are we in a Housing Bubble in Sonoma County?
I cannot count the exact number of times I have been asked if we are in a housing bubble in Sonoma County. Every agent I know all over the US has also been asked the same question--it is no wonder, as prices seem to be climbing ever upwards and we all (or most of us) remember what happened in 2008-2010! What is so different about today? The Great Recession was driven by excess and abuses in the housing and mortgage markets. This national boom in real estate has been fueled by people reevaluating their circumstances due to Covid and sustained by record low interest rates and a shortage of housing. Brian Buffini and Company produced this solid infographic explaining the differences and root causes in both markets. ...
? In Sonoma County, autumn is so much more than pumpkin spice lattes…
For those of us who have the great pleasure of residing in the wine country throughout the seasons, we are undoubtedly spoiled. With unparalleled views of rolling hills, amber skies at sunset, and the smell of crisp, fresh air during fall — the wine country experience falls nothing short of stunning. Now that autumn is in full swing, we get to indulge not only in a beautiful display of colors, but we also reap the season’s newest crops. Here, autumn is so much more than pumpkin spice lattes. With most of Sonoma County’s restaurants committed to the farm-to-fork philosophy, we can be sure dishes will be made with this season’s freshest harvest: apples, dates, figs, pears, squash, and eggplant, to name a few. And with a vast choice of wines to top it all off… Really, what more can we ask for? A Guide to Sonoma County's Pumpkin Patches: For those seeking that true fall experience, our family farms feature a variety of gourds for your autumnal mood and Halloween creations. Check out this list of local pumpkin patches where you can find entertainment for the little ones, do a little wine tasting, and pick the perfect pumpkins. The Matheson and Roof 106 Open in Downtown Healdsburg: Recently, Healdsburg native chef Dustin Valette opened his much-anticipated new restaurant, the Matheson. The tri-level experience includes the upscale restaurant, a sushi counter, two bars, and a rooftop lounge. Oh, and did we mention 88 wines by the glass? Meet EarthSEED, Sonoma’s First Afro-Indigenous Farm: Located in Sebastopol, EarthSEED honors traditional agriculture, where founder Pandora Thomas practices and teaches African agricultural skills that have endured and evolved despite centuries of slavery and diaspora. The farm boasts fresh fruit, flowers, herbs and yes, even popsicles. ...
Just Listed! Rare Riverfront Home with Private Summer Dock ?
Rare Riverfront Home with Private Summer Dock! An idyllic oasis just west of downtown Guerneville. With vintage flair and tasteful updates, this .26+ acre parcel delights in so many ways: dinner on the deck overlooking the river, an evening hot tub privately located under the stars, views from nearly every room, an expansive usable lawn area lined by mature landscaping, fruit trees, a path down to your private riverside deck with a summer dock overlooking the heart of Russian River fun. There are so many ways you and your friends and family can enjoy the Russian River lifestyle. Please watch our Property Video below and visit the Property Website for more details on this lovely Riverfront Home. ...
High-tech products to pamper your pet ?
When it comes to our pets' health, safety and happiness, no expense can be spared! And thankfully, advancements in digital technology have provided both pets and their parents with a variety of new options for safety, convenience and peace of mind. Since pets and tech are a few of our favorite things, we've searched the web for the latest gadgets and emerging trends and provided a list of standout products below. Love is Being Connected: PetChatz offers two-way audio and visual connections to allow petparents to monitor and interact with their pets when they are away from home. Described as “digital daycare for the home alone pet,” it is a solution for separation anxiety, both for pets and their parents. Play with Technology Assist: CleverPet Hub is described as “the world's first game console for dogs,” but it is also adapted to cats. The toy’s touchpads light up and make noise as pets solve puzzles with a treat administered when the correct answer is touched. Pet Care at the Touch of a Button: SurePetcare offers a micro-chip controlled pet door that only opens when it reads the pet’s microchip or RFID tag. It then signals a smartphone app when the pet leaves and enters the house and also allows parents to control when the pet can have outdoor time. And an added benefit, it keeps inquisitive raccoons out. Litter Robot puts an end to the smelly and sometimes back-breaking job of scooping waste from the litter box. It automatically senses when the cat is inside and then cleans up after by dropping waste into the bottom drawer that needs emptying only every seven to ten days. Four-Legged Luxury: High-tech also brings a new level of luxury to pets, like the ZenCrate from Play and Plug Robotics. Positioned to relieve pet anxiety, it also provides motion-sensored fan cooling and a pet-appropriate music playlist when the pet enters its private domain. Solutions for a Healthy Pet Life: Just as people increasingly are monitoring their health and wellness via digital monitoring devices, pet parents are turning to similar devices to monitor their pets’ health. FitBark is a doggie version of a FitBit-type device to monitor activity levels, steps taken and sleep periods. Recorded data is synced to the parent’s smartphone app with the resulting data accessible to veterinarians and other pet service providers....
What’s new in the wine country this month!
With summer winding down, the call of the outdoors still beckons. This month we're celebrating the opening of a new Healdsburg hidden gem and one of our new restaurants in Sebastopol by the Michelin Guide. Outdoor Activities (Besides Wine Tasting) to Try in Sonoma County: Yes, Sonoma County is a world-class wine and food destination, but we have so much more to offer than the sum of our wineries and restaurants. The natural largesse of the land provides stellar outdoor recreational opportunities in the air, on land and at sea. So get out there. Burn some calories, get the heart pumping and stimulate the senses by exploring the Sonoma you may not know. Forager, a Modern Mercantile Store Opens in Healdsburg: Congrats to our clients and friends who recently opened their new store, Forager, located on the historic Healdsburg Plaza. We stopped by to check out their eclectic mix of objects for the home that elevate practical, everyday living and picked up a few great pieces! Merchandise includes curated, artisanal products that are not seen everywhere else, alongside thoughtfully chosen vintage home goods and decor. To learn more, click here. Sebastopol Restaurant Honored by Michelin: Inspired by the “resilience and creativity of chefs” during the pandemic, Michelin inspectors have named Sebastopol’s Khom Loi as one of 10 notable new San Francisco and Wine Country restaurants in its online guide. [caption id="attachment_21320" align="alignleft" width="839"] (Photo by John Burgess/The Press Democrat)[/caption] ...
Sonoma County Summer Fun ☀️
Summer in the wine country brings with it scenes of lush vineyards, blooming meadows of lavender, and long, warm sunny days perfect for a beach day, outdoor wine tasting, or dining al fresco. Below discover more of what’s new this summer in Sonoma County! Live Music Returns to the Wine Country: In yet another welcome sign of a slow return to normalcy, the music is back, more intimately yet just as exuberantly, at these tuneful Sonoma County wineries. Reservations are required and physical distancing is factored into concert setups. Camp in Style this Summer: Let’s face it: Camping it a lot of work. It’s also a lot of fun. If you’d like to maximize the latter and minimize the former, consider booking one of these six “glamping” destinations in Sonoma County in which the shiny Airstreams, towering treehouses, and luxury canvas tents are awaiting—no assembly required....