Sonoma-County-Real-Estate Tag

May Sonoma County Real Estate Update

“Price is what you pay. Value is what you get.”
– Warren Buffett

I’ve been pondering this idea lately. The importance of value over price in decision-making.

Do I buy organic because it’s better for me, even though it’s more expensive? Do I invest in key wardrobe pieces that will stand the test of time or opt for the Amazon version?

We currently live in a price-sensitive world where even those who are considered “wealthy” are having to contemplate this choice due to the rising cost of living. It’s at the core of every purchase we make… including our homes.

May flowers are blooming & so is the Sonoma County market

Can you believe it’s almost summer? Along with the flowers and sunshine, the dynamics of our housing market are changing yet again. There is a subtle but important shift in the market this month. See below for more insight.

Kids are getting out of school and will be home for summer break. Meanwhile, teenagers are leaving home to get ready for college. Needless to say, May and June are months of adjustment. So, should your home adjust as well?

Spring Real Estate, NAR & Sonoma County Fun!

There’s a lot to cover with you this week! Let’s dive right in…

I first want to address the elephant in the room: The National Association of Realtors (NAR).

You’ve probably seen the headlines or maybe watched a video circulating on social media about the $418 million dollar lawsuit settlement this month.

Everyone is talking about it, and I have a few thoughts (and opinions) too.

Welcome to Early Spring in Wine Country!

The first signs of spring have arrived! This is one of my favorite seasons in Sonoma County. Everywhere you look you can see yellow mustard popping up in the vineyards and other spring flowers beginning to bloom.

Yellow is often associated with optimism and joy and that’s exactly what we could all use a little more of in 2024… including in the real estate world!

February 2023 Sonoma County Market Update

The spring housing market is heating up! With inventory in the North Bay down 50 percent year-over-year, we are continuing to see multiple offer situations and sales prices going over asking. While it’s usually not at the same rate or increase that we saw over the last few years, it does tell us that buyers have entered back into the market and sticker shock of the sharp rise in interest rates has settled a bit.

Sonoma County Spring Housing Market Predictions

One thing I love about this month, is the mustard, which pops up in our vineyards towards the end of winter. These beautiful blooms are a welcome sign that spring is right around the corner and with all the rain we are getting it is stunning!

Speaking of spring, the real estate market in Sonoma County is starting to heat up! Rising interest rates, combined with high homes prices led to a slow fall and winter season. A stark contrast from the hot market we had leading up to summer 2022.

Sonoma County Real Estate Market Update: What Happened in September 2022

Market Talk It’s officially fall and inventory is on the rise around the country.  View the full report here: September 2022 Sonoma County Market Update.  We are seeing the typical seasonal bump in new listings in the Wine Country. However, rising interest rates affect some would-be sellers too.  They are holding off putting their homes on the market since they would be doubling their interest rate when buying a replacement home unless they purchase cash of course. And, there are still plenty of buyers in the market place searching for homes! Mortgage interest rates are at their highest level in more than 14 years, sales inventory has ticked up a bit but is still historically low, and fear of a looming recession is still a topic of discussion in the media. What we do know is there are still buyers actively shopping for homes, and desirable properties that show well and are priced correctly have been going into contract, in some cases even with multiple offers and well over asking. One recent country property in Sebastopol priced at $2 million sold for $3,150,000! It’s very important that buyers understand there are a number of loan programs out there that can help offset the higher monthly payment at today’s rates, and rates can vary significantly from lender to lender. You want to make sure you shop around and look at all options, from 2-1 rate buy down programs to credit union rates and special institutional lending programs. Be diligent in your research before choosing a lender to work with.  And a flashback to earlier years, some sellers may even have mortgages that are assumable at yesterday's low rates.  In the past those were typically adjustable mortgages so again it is important to do careful research. Traditionally, markets like this will stabilize, but when that happens and what "stability" looks like is up in the air. Reach out to your trusted real estate professional to help you decide if it makes sense to make a move now or wait!   ...

2022 Sonoma County Summer Housing Market Update ?

Do you have questions about Sonoma County's housing market? As quickly as mortgage rates are rising, the once red-hot market is showing signs of cooling. Home prices are still historically high, but there is some concern (fueled by the media) that they will ease up as well. Today I want to run through some of the latest trends we've been seeing this summer and discuss what they say about the state of our market. For a more detailed overview, be sure to check out the Corcoran Q2 2022 Real Estate Report. First let's address a question I have been getting a lot lately: Is today’s housing market in the same predicament that it was over a decade ago, when the 2007-08 crash caused the Great Recession? The short answer is: no. America’s housing market is in far better health today. That’s thanks, in part, to new lending regulations that resulted from that meltdown. Those rules put today’s borrowers on far firmer footing. But what about rising interest rates? During the pandemic, rates were historically low, but that’s starting to change. For most of July, my clients received interest rates in the 5.5% range. While that seems high, it’s not too far off from where rates were before the pandemic. Why a slight slowdown in our market might actually be a good thing...

Just Sold $1,300,000 – 23% Over List Price!

  This gorgeous country property on Joy Road was popular the day it hit the market late May. With 20 showings over 6 days we asked for offers by Day 7. With 4 strong offers in hand we accepted one at $1.3 million, well over what the comp sales showed! The seller had a generous rentback to allow for a smooth transition and the sale closed with a minimum of fuss. We were able to take advantage of a very hot market for country properties, which seems to be continuing.  However, the market is constantly evolving so it is important your strategy evolves along with it!   The successful sale of your home starts with preparation and development of a marketing strategy appropriate to your home and current market conditions.    Please reach out by email or phone, we are happy to discuss your unique needs and circumstances! And don't forget to watch our unique drone listing video below!  It really showcases this special spot and helped attract potential buyers to see the property! Property Website   ...