Artisan Sotheby's International Realty
Sonoma County
Many Sebastopol homeowners will be planning to list their properties this spring because it’s when future home sales would be expected to peak. Historically, at least, spring is when a sudden crush of prospects usually arrive on the scene. But this year, the upward drift in mortgage interest rates might have would-be sellers worried. After all, it’s common sense that any rise in home loan rates would put a damper on buyers’ enthusiasm.
Sometimes common sense and reality don’t go hand in hand. When we try to estimate the strength of Sebastopol’s future home sales, it could be a case in point.
That’s one way to look at the conclusions drawn by a pair of studies released last week. Both were focused on examining how rising interest rates are likely to affect future home sales. If you assume that higher mortgage rates automatically dampen home buying activity, that in itself could become a self-fulfilling prophecy. For Sebastopol homeowners currently deciding whether the prospects for future home sales are on the decline, that could be a factor in their decision about whether to list their own properties.
John Burns Real Estate Consulting examined the “common sense” idea about the dampening effect of rising mortgage interest rates—and found historical evidence that put the kibosh on it. They looked at ten separate periods since 1975 during which rates rose by 1% or more, and found little or no impact on sales if the underlying economy was strong. Apparently, the public optimism that accompanies a roaring economy offsets the effect of higher monthly mortgage payments.
Another study by market research journalist Greg McCarriston summarized a late-2017 Redfin-commissioned survey. More than 4,000 people were polled in late 2017 about their own homebuying plans. Surprisingly, only 6% of those quizzed said they would cancel their own homebuying plans if mortgage rates passed 5%. A surprising 46% said that would either have no effect on their plans—or that it would actually increase their urgency to buy since rates might rise further.
Common sense or not, if both studies prove out, the strength of recent economic news could energize this spring’s Sebastopol future home sales activity—despite a creeping rise in interest rates. That will be good news for homeowners who decide to sell, and for buyers who are planning on the traditional spring flood of new properties entering the market. If you are thinking about joining either group, we hope you’ll give us a call!
If you are just about to commit to buying or selling a home in Sebastopol, the first important task before you comes with identifying the best Realtor® to assist your effort. That comes first because although you might begin by combing through the current Sebastopol listings or driving through the neighborhood to spot what’s going on, there is always a possibility that acting without delay will be important. If that happens to be the case, zeroing in on the best Sebastopol agent takes first priority.
How you ultimately select that best real estate agent for you involves a selection process that’s a lot like any business person’s procedure—except that it’s easier to identify the candidates. You won’t have to post “help wanted” ads since the candidates (us included) are all actively looking for you! We are the prominent Sebastopol brokers and agents whose names you see on the web and on our “FOR SALE” signs. They’re all over the place.
The true lion’s share of the work of identifying your best “hire” will come in the conversations you have with the leading candidates. Whether you call them up or drop in on them at their office (or run into them at an open house), it’s important to bear in mind that these conversations, whether casual or not, are actually employment interviews. You’re the boss; the agents are applicants—and the hiring decision is a very important one. During these interactions, if you can determine that the agent you’re speaking with is strong in these five qualities, you’ve found your agent:
1. Accessible. The best Sebastopol real estate agent for you is easy to talk to—the kind of person you connect with automatically; who puts you at ease. The best agent will be someone who is engaging and enjoyable to talk with.
2. Professional. At the same time (it onlyseems to conflict with the above), the best agent is a professional at all times. After all, some of the most durable friendships wind up being with people we’ve “been through the wars with” in business!
3. Sympathetic. A lot of the business at hand will consist of pinpointing your personal tastes and leanings and prioritizing them correctly. The best Sebastopol real estate agent for you will be keenly aware of your preferences—which won’t be the same as everybody else’s.
4. Authoritative. That best agent knows Sebastopol inside and out; is personally familiar with the current crop of area listings; is known and widely respected by her or his Sebastopol real estate colleagues.
5. Dedicated. Your best partner in the upcoming campaign will be committed to the real estate profession—not just for this week or for this transaction, but for the long haul. The best Sebastopol real estate agent will be there for you the next time, too!
Needless to say, when you are narrowing the field for who you want to become your own best Sebastopol agent, we hope you’ll call us for a chat!
You’d think that the whole notion of the American Dream is vague enough that it would be immune from challenge, and for the most part, that’s still true enough. Not so for its principal emblem, which most Sebastopol residents would agree is owning your own home. Being free to work hard to reach that goal—no matter who you are or how humble your origins—has long been the leading sign that the Dream is alive and kicking.
Even so, lately it’s been getting hard to ignore some media discussions that seem to challenge homeownership’s legitimacy as a pillar of that whole American Dream notion. Simply put, the suggestion is that the financial benefits to be had from owning your own home are no longer valid—or at least, that they are growing less valid.
There’s no arguing that there are many situations where renting makes more financial sense than does buying. Most of them are related to the expected duration of residence. As The New York Times observes, “Buying tends to be better the longer you stay” if only because the upfront costs are spread out over many years. In one of its Upshot commentaries, the Times presents a calculator which adds up “Initial,” “Recurring,” and “Opportunity Costs” for various rent and buy situations in order to show at what monthly rental dollar amount “renting is better.”
Sorry, Times. Your calculator may accurately display the tradeoffs in dollar costs—but it overlooks one factor that can ultimately prove to be the most significant. It’s the real-life factor that is built in whenever Sebastopol families decide to graduate from renting to buying. It begins to take form with the first dollar saved for a down payment and continues until the last mortgage check clears the bank.
You can call it “enforced savings”—but whatever its name, in addition to the emotional benefits of owning your home, a measurable infusion of financial independence is the usual outcome. For example, when the Federal Reserve last reported “Changes in U.S. Family Finances” during the years from 2010-2013, it found that although median incomes fell 5%, “the median net worth of homeowners increased 4%, whereas that of renters or other non-homeowners did not change.”
If the American Dream is one of self-reliance and independence, then owning your Sebastopol home isn’t likely to disappear as its leading goal anytime soon. It’s one of the greatest parts of our job to help clients turn that distant dream into today’s reality. It’s a process that starts with a simple call to our office!
Luxury real estate is at the apex of the homeownership experience. All around the world, luxury homes are coveted, not only for their superior structures, but also for the lifestyle they provide to their occupants. In places like Sebastopol, Ca the luxury home market is a contrast, yet beautifully interwoven into the charm of this Northern California paradise. The atmosphere of this place, and the lifestyle it provides, can go hand-in-hand with the home of your dreams.
In luxury real estate, the sale price defines the term. Ranging from $1 million (in certain locations) to the upper limit of home value possibilities, luxury means different things in different places. On average (globally), luxury real estate is values at around $2.2 million. This average incorporates ranges in price that are as diverse as the styles, locations, and amenities they afford.
Here, we offer fresh perspectives on how macroeconomic factors are impacting luxury home prices, inventory, and sales globally. This year (defined as 11/15 – 11/16) in Sebastopol, there were 79 luxury homes for sale and eight of those homes sold in that same time frame. Sebastopol is seeing growth in this sector of real estate. In the first quarter of 2015 (September to November of 2015), there were 18 luxury homes for sale and one home sold in that same period. Although price per square foot and overall home price has seen a slight decrease during those same months the number of luxury homes for sale and sold homes increased over the year. In the first quarter of 2016, there were 25 homes for sale and three sold. Luxury home inventory and sales grew from 2015 to 1016 by 40% and 200%, respectively. Another important statistic to note which speaks to desirable location and lifestyle, is the number of days homes are on the market. Luxury homes were on the market for a total of 218 days in the first quarter of 2015, and decreased by 23% to 168 days.
In Sebastopol, luxury real estate has changes in the last year. Some demographics of success have increased, while others have waned. The last year say over 70 listings of luxury real estate and 8 sales of luxury properties. This means that luxury home inventory and sales grew from 2015 to 1016 by 40% and 200%, respectively.
The trends seen in Sebastopol, are not uncommon. Home inventory is indirectly proportional to the price of the homes in the area. Still, luxury homes are very desirable and the need for these properties is on the rise in the area, as seen in the general market trends. The luxury home market in Sebastopol is because its richness in property and lifestyle.
See yourself lounging pool-side in your own Northern California luxury property? Give us a call and see which properties will help your dreams be realized.
There are a couple of ways to look at the difference between the way you approach a typical Sebastopol home sale and the way your real estate agent does. One is positive, the other, less so—but considering both reveals something about the value we Realtors® add to the process.
Most Sebastopol homeowners do decide to enlist the services of an experienced Sebastopol real estate agent, but sometimes it’s only after trying to avoid it. The reason is nearly always because, although the percentage of the standard agent commission is only 5% or 6% when the sale amount is hundreds of thousands of dollars, it can seem like an awful lot of money for hardly any work at all.
The reality is otherwise—and in fact, since it’s a competitive business, those commissions would certainly be lowered here and there if it were commercially feasible to do so. But supporting the ongoing office and networks involved make that unrealistic. And then there is the other factor, which is to make all that background noise as invisible as possible. Part of a good agent’s accomplishment is to quietly assume most of the tedious tasks of the buying and selling process so that the client can concentrate on only those issues necessarily theirs to perform. Good agents don’t burden their clients with all those details—and certainly, don’t complain about them! An unfortunate but unavoidable consequence is that the job seems far simpler than it actually is.
And in fact, the principal reason that most buyers and sellers do rely on Sebastopol real estate agents is because it’s the nearly universally accepted common practice. For a transaction as important as buying and selling a home, most people safely assume that it’s not prudent to make it a DIY project. Too, since teaming with a Realtor was probably the path chosen by their parents (and most of their neighbors and friends), there is little impetus to change the method that has succeeded for everyone in the past.
There is another good reason people count on their Sebastopol real estate agent, as well: it has to do with the perspective we add. When a client is house hunting, the overriding goal is to find the Sebastopol home that offers the most pleasing combination of features that fits their budget. When an experienced agent is part of the scouting team, another dimension is present: a sounding board for how properties stack up against the wider Sebastopol market in terms of competitive value. If a home is a perfect fit with a client’s gotta-have-it features list—but is nonetheless overpriced—an experienced agent is there to supply that perspective. When the later time comes to sell and reclaim value, that input can prove to have been all-important.
Whether selling or buying, staying abreast of the Sebastopol market is a key part of making discerning choices. Call us anytime to discuss what’s new!
Most of us favor a high degree of predictability when it comes to things like the interest rates on mortgages. In that realm, “poised” is a bad word. When anything is poised, it means it’s about to do something different: change. For those who like predictability, change is unwelcome.
But this week should provide both good and bad news when it comes to change and Sebastopol mortgage rates. For once, a change in the immediate future is pretty nearly a sure thing. Although rates are poised, they’re poised for a comfortingly predictable change.
What happens after that is a different story.
Up until very recently, the mortgage interest rates offered to Sebastopol home buyers has been an island of calm in a sea of…well, less calm, if the year’s turbulent election cycle is any example. Predictability has been in short supply—except when it comes to mortgage rates.
For a decade, Sebastopol mortgage interest rates have been tucked safely within a snooze-worthy range—right there at the bottom of the charts. No matter how often the experts predicted that a rate rise was imminent, they were proven wrong again and again. Only one time did it happen. The flat line down there at the bottom of the rate charts stayed remarkably flat.
But this week, mortgage rates are poised!
The triggering mechanism for a rate boost is, as always, the Federal Reserve. When it votes to raise its Fed Funds rate, banks pay more for cash; and charge more for access to the money they lend. This isn’t a one-to-one cause and effect, but it’s generally the case. Only once in the past decade did they nudge rates even a quarter of a percent. But even in that instance, for reasons still somewhat mystifying, mortgage rates went down instead of up (before returning to the flatlands).
This week, the Fed is poised to raise rates—but this time it’s all but certain actually to happen. The certainty among analysts made comforting reading for those who relish predictability. MarketWatch headlined “Fed to hike interest rates.” Forbes didn’t even wait, headlining on Sunday, “Week Ahead on Wall Street: Fed Hikes Rates” as if it were a done deal.
But if a Fed Funds rate hike announcement on Wednesday is knowable, what happens down the road is anything but. As USA Today put it, “The Federal Reserve is virtually certain to raise interest rates this week for the first time this year, but the course of future hikes has suddenly become cloudier.” Bloomberg said, “the pace of monetary tightening is uncertain.”
In other words, the previous certainty that future interest hikes would be slow and deliberate was suddenly in question. Future moves might be more abrupt than anyone thought…or not. For those who favor predictability, after this week, an unsettled future awaits.
One fact that doesn’t depend on what happens down the line is that Sebastopol mortgage rates remain unusually favorable. These are likely to be looked back upon as halcyon days for home buyers and the sellers whose listings showed unusually affordable monthly payment numbers. At least for now, it’s predictably a most opportune time to give us a call!
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Spring cleaning season remains the time of year for Sebastopol’s most rigorous home improvement efforts, but fall is also an opportune time to dig into some preventive home maintenance chores. Homes that get their owners’ attention on a regular basis don’t just hold more of their value with less expense—they also add some extra value: peace of mind.
These six top-level maintenance tasks may consume a weekend day or two, but will ultimately pay off by eliminating preventable deterioration:
If your Sebastopol roof has gutters, now is a time to clear them. It’s only “a” time because there should be a second round. After fall winds have deposited nature’s bounty of tree leaves and pine needles and everything else that could possibly pile up in them, it will be time to do a final clearing out. If you wait until then to tend to the gutters, there’s a good chance that sludgy goo will have formed beneath the autumn debris.
Door seals. Weather stripping around inevitably decomposes over time, and hinges wear down. You can find doorjamb weatherstrip kits at the hardware store, and replacing foam tape that’s lost its oomph takes just minutes. For sliding glass doors that take too much muscle to budge, it’s worth getting down on hands-and-knees to deep clean the tracks—then follow up with some WD-40 sprayed into the roller workings.
Windows. Window insulation is right up there with the doors as key entry points for heat and cold (the kind of heat and cold that show up in Sebastopol energy bills). If you are stumped by how to renew the weatherproofing on some kinds of windows, Google and Bing are there to help. Search for “window weatherproofing” using the “images” choice, and see if there’s a YouTube video for one that looks like the window type that has you stumped (there almost always is).
Garden. Clearing summer’s dead and dying growth and re-mulching where it’s needed is easiest to do in Sebastopol right about now. Resist the temptation to scrimp on sufficient mulch: it isn’t just a pretty face (remember how much labor it saves during weed season?).
Exterior. Now is also Sebastopol’s easiest time to check for rot, insect infestation, or any other deterioration summer might have wrought on siding and trim. If an exterior paint job is overdue, this could be where my promise about just a weekend day or two might have been overly optimistic. But a fresh coat of paint now, before winter hits town, can be a meaningful budget saver in the long run.
Deck. If you have a deck that takes stain, you have to do it again. Sorry, but it’s really true: the value of stain is that you only have to wash the deck and roll it on…but you do have to do it to cover the worn areas and protect the wood.
Those are the most frequently-cited fall home improvement hotspots. If this summer’s California weather has been more punishing than usual on your Sebastopol home, you might have some additional areas to mind—but for most homeowners, conscientiously attending to these should ensure a winter’s worth of peace of mind. One of my contributions (when it’s time to sell) is to help point out areas that buyers might think need improvement—and a well-maintained home will have very few of those. We hope you will feel free to give me a call whenever any questions arise on that score—or for anything connected with Sebastopol’s real estate market!
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Sonoma county is best known by its rich and vibrant winery scene. Sonoma county is the southwestern county of the California winery region, and also the region’s greatest producer of wine. The history of Sonoma county’s productive agriculture dates back to the 1920s and is still a leading producer of a variety of crops including hops, apples, and grapes.
One of the more historic wine producers of Sonoma County is the vibrant town of Healdsburg. Both eclectic and up-scale, Healdsburg blends all of the finer, yet quaint, things in life into a beautiful, quintessential California package. Described as down-to-earth, Healdsburg affords its residents and visitors a friendly feel making everyone instantly feel at home. Location is one of this town’s greatest assets. Nestled in an idyllic landscape, many of wine countries’ finest producers and tasting rooms are located in the surrounding countryside. Deliciously grown organic produce, artisan breads, and intimate restaurant complement the local wines wonderfully. Quaint world-class shopping and a healthy visual arts scene, ensures Healdsburg has a little of everything, for everyone. Just outside of town, leisurely water sports as well as world-class hiking and camping can be found amidst towering redwoods.
Our newest listing in Healdsburg fits perfectly into this idyllic picture. Only minutes from Healdsburg downtown plaza this quintessential five bedroom and three and one half bath, Queen Anne Victorian built in the early 1900’s. Spacious in every way, boasting approximately 3,115± square feet of living space with many notable features like hardwood flooring, crown molding, vaulted ceilings, light-filled interiors, a cozy fireplace in the living room and jacuzzi tub and walk-in closet in the master suite. In addition, this picturesque home was architecturally restored to include granite counter tops in a gourmet kitchen and a family room with french doors that lead to a spacious patio, mature landscaping and wrap around porch.
I would be our pleasure to show you around this exquisite property and charming town give us a call!
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A mega-proportion of serious Sebastopol house hunters ultimately decide it makes the most sense to team up with a real estate professional to get the job done. Sebastopol buyers may begin the process of finding and buying their next home on their own, checking through the online listings or driving target neighborhoods to check out the “For Sale” signs—but the NAR® reports that 9 out of 10 of U.S. buyers will eventually use a real estate agent in their search process.
The most obvious motivation for that is because the buyer’s agent’s fee is paid from the seller’s proceeds. That alone could explain a 90% level of popularity. When you can benefit from a professional’s services at no cost to yourself, Sebastopol house hunters would have to think long and hard to come up with what the downside could possibly be. To run down the arguments that could explain how 10% might decide to pass up the buyer’s agent service, we looked for the most common arguments against the grain.
Here are the Top Four, presented in no particular order. (Since we definitely do have a dog in this fight, we’ve also included some counterarguments):
Whenever we represent any buyer, our motivation is 100% that of helping them reach their desired outcome. Reaching that goal—finding the right Sebastopol home, then negotiating and closing at the right price—is the way we keep the phone ringing. See for yourself by giving us a call!
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We are proud to have aligned ourselves with Artisan Sotheby’s International Realty an inspirational brand based on heritage, tradition and expertise. We are setting new standards by refining the art of residential brokerage with a practiced eye of identifying the unique value of a property. We offer a deep commitment to excellent service and have a passion for unparalleled quality. Unique homes require skillful marketing through our local expertise and Sotheby’s International Realty interconnected global network of offices that are dedicated to the extraordinary.
I wish to express my satisfaction and confidence in your ability to find an ideal home for anyone that I would refer to you. My own experience in purchasing and selling a home with you allowed me to witness the fact that you are truly an expert in your field, handling all aspects of residential real estate transactions. From the beginning, your market analysis to the final stages of negotiations, your calm manner and clear explanation kept me knowing I was in the best of hands.
Mr. Mitchler