Randy Mack | Realtor | 707.696.6272

    Heidi Faulkner | Realtor | 707.480.4098

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10 Essential Steps to Buying Your Dream Home

Buying a home is a major financial decision. Whether you are a first-time buyer or upgrading, the process can feel overwhelming. Here’s a step-by-step guide to help you buy a house.

Step 1: Assess Your Financial Situation

  • Check your credit score: Credit scores range from 200 to 850, with scores above 620 deemed desirable for obtaining a mortgage.

When lenders assess your mortgage application, they will review your FICO score. A FICO score is a number that shows your creditworthiness. It is calculated using a special formula based on data from the three main credit reporting companies: Experian, Equifax, and TransUnion.

Improve your credit score with this guide.

  • Calculate your debt-to-income ratio: Lenders use this metric to assess your mortgage repayment ability. Ensure your debt-to-income ratio is within an acceptable range to secure favourable loan terms.
  • Determine how much you can afford. Understanding your budget helps you avoid taking on a mortgage that may become a financial burden, keeping your monthly payments manageable. Account for additional costs like property taxes, insurance, maintenance, and potential HOA fees.

Step 2: Get Pre-Approved for a Mortgage

A mortgage pre-approval is crucial in today’s competitive market. It shows sellers that you are a serious buyer and helps you determine your budget. Work with a lender to get pre-approved by providing financial documents such as income statements, tax returns, and credit reports. Here’s a helpful link about questions to ask when choosing a lender.

Step 3: Define Your Home Needs and Wants

Make a list of must-have features and nice-to-have amenities. Here are a few examples of must-have list items to consider to help you narrow down your options when searching for homes:

  • Location
  • Home size
  • Outdoor space
  • Number of bedrooms and bathrooms
  • Proximity to schools and work
  • Neighbourhood safety
  • Layout, features, and finishes

Step 4: Hire a Real Estate Agent

A knowledgeable and experienced real estate agent like Randy and Heidi can make the process much smoother. They will help you find homes that match your criteria, schedule viewings, negotiate on your behalf, and guide you through paperwork and contracts.

Step 5: Start House Hunting

Work with your agent to view homes that fit your budget and needs. Take notes during each showing, ask questions about the property, and compare the listings to help you make a good decision. Here’s a list of what to look for when touring a home:

1. Overall Condition of the Home

  • Look for signs of water damage, such as stains on ceilings or walls.
  • Check for cracks in walls, ceilings, or the foundation that could indicate structural issues.
  • Test doors and windows to see if they open and close properly.

2. Roof and Exterior

  • Ask about the age of the roof.
  • Look for cracks in the siding, brick, or stucco that may lead to costly repairs.

3. Plumbing and Water Issues

  • Turn on faucets to check water pressure and drainage.
  • Look under sinks for leaks, mold, or water damage.

4. HVAC System

  • Ask about the age and maintenance history of the heating and cooling system.

5. Kitchen and Appliances

  • Ask about the age and condition of appliances included in the sale (oven, dishwasher, refrigerator, etc.).
  • Look at cabinets and drawers to make sure they open and close properly.
  • Check countertops and flooring for wear and tear.

6. Bedrooms and Living Spaces

  • Ensure the layout fits your lifestyle and furniture needs.
  • Look for adequate closet and storage space.
  • Check natural lighting and ventilation in each room.

7. Neighbourhood and Surroundings

  • Listen for noise levels from traffic, neighbours, or nearby businesses.
  • Observe street parking availability and overall neighbourhood upkeep.

8. Red Flags to Look Out for in a Home Inspection

  • Strong odours, such as mold or smoke, that may be difficult to remove.
  • Freshly painted spots that could be hiding damage.
  • Foundation cracks wider than 1/4 inch.

Tip: Take photos while visiting each house and focus on the things you can’t change, like location, the neighbourhood, or the size of the bedrooms.

Step 6: Make an Offer

Once you find the right home, work with your agent to submit a competitive offer. This includes your proposed purchase price, contingencies (such as inspections and financing), and a closing timeline. The seller may accept, reject, or counter your offer.

Step 7: Get a Home Inspection

A home inspection is essential to uncover any hidden issues with the property. Hire a professional inspector to check for structural problems, plumbing and electrical issues, roofing conditions, and more.

It’s always a good idea to add a contingency clause to your offer stating that you have a certain amount of time to inspect the property. If any major problems are found, you may negotiate repairs or reconsider your purchase.

Step 8: Secure Your Mortgage Loan

Once your offer is accepted, finalise your mortgage by working with your lender. You’ll choose a loan type, lock in your interest rate, and provide any additional documents required for loan approval.

Step 9: Conduct a Final Walkthrough

Before closing, do a final walkthrough of the property to ensure everything is in order. Verify that agreed-upon repairs have been completed and that the home is in the condition expected.

Here’s a detailed list of what to check for on your final walkthrough.

Step 10: Close the Deal

On closing day, you’ll sign all necessary documents, pay closing costs, and officially receive the keys to your new home. Your real estate agent and lender will guide you through this final step.

Tip: Don’t forget to re-key all the locks and change the garage door opener code when the property is officially yours.

Buying a house is an exciting but complex process. By understanding each step and working with professionals, you can make confident decisions and find the perfect home. If you’re ready to start your home-buying journey, reach out to a trusted real estate agent today!

Posted in: Home Buying Tagged: #artisansothebys, #buyersagent, #forestville, #healdsburg, #homebuyer, #homebuying, #homeownership, #luxuryhome, #mackfaulkner, #petaluma, #realestate, #realestateagent, #realtor, #sebastopol, #sonomacounty, #windsor, HeidiFaulkner, RandyMack, santarosa

Real Estate Predictions for 2025

As we get closer to 2025, the real estate market is about to change significantly due to economic shifts and buyer preferences. This blog will highlight key predictions that might affect the housing market. This will help you find both opportunities and challenges coming your way.

1. Increased Demand for Suburban and Secondary Markets

The migration to suburban areas during the pandemic has had a lasting impact. As many workers have transitioned to remote and hybrid work models, many have chosen to settle in suburban and secondary cities. 

In 2025, we anticipate continued interest in these secondary markets, as many buyers prioritise affordability, larger living spaces, and a high quality of life.

Pro Tip: If you’re considering selling in these areas, this could be a prime time to list your property.

2. Sustainability Takes Center Stage

Green homes will be a major focus as buyers prioritise energy-efficient features and sustainable materials. Properties equipped with solar panels, energy-saving appliances, and smart home systems will command higher premiums, creating a home so efficient it pays you back.

If you are looking for a new, more resource-efficient property, Randy Mack a REALTOR® with NAR’s GREEN Designation can help.

3. Rising Interest Rates Stabilize

While interest rates have been a hot topic recently, 2025 may bring more stability. This could encourage hesitant buyers to re-enter the market, though affordability will remain a key concern.

According to Freddie Mac, since September, rates have been on the rise again and ended the month of November at 6.81% after hitting 2-year lows of 6.08% in late September. Lawrence Yun, chief economist of the National Association of REALTORS®, says the rates should stabilise at the low end of that range for 2025 and 2026.

NAR, What’s Next for the 2025 Housing Market?: Factors that could change Yun’s forecast: a reduction in the budget deficit, an easing of housing regulations holding up home builders, or a significant increase in the labour force to help lower inflationary pressures. In such cases, “mortgage rates could come down quickly,” Yun noted.

Pro Tip: Buyers should monitor rates closely and consider locking in when favourable terms are available.

4. Fewer Deals for Renters

Renters who received good deals in 2024 because of many new apartment buildings may find fewer offers in 2025. The pace of new construction is expected to slow down, with new rental buildings predicted to drop by 21% in the first half of 2025 and further declines expected throughout the year.

This drop in available apartments will likely stabilize rental prices and give renters less power to negotiate for extras like a free month of rent.

5. Increased Housing Inventory

Inventory levels are up by 27% compared to last year. New home construction is also rising, which could help ease housing costs. Yun predicts a continued increase in housing inventory and new builds through 2025.

Housingwire: As it continues, we’re slowly getting closer to the old normal levels. While we have 27% more homes for sale now than last year, we have 22% fewer homes on the market than at the end of 2018. By the end of next year, we should be back to old normal inventory level.

6. Positive Outlook for Home Sales

Improved job numbers and recent stock market gains could encourage more Americans to act on their homebuying plans.

NAR: Pending home sales rose 3% year-over-year in September 2024, suggesting that “the worst is over,” according to Yun. With growing inventory and pent-up demand from a population increase of 70 million since 1995, the housing market may be poised for a strong rebound.

7. Millennial and Gen Z Buyers Dominate

Younger generations will continue to drive the housing market, bringing preferences for tech-savvy homes, walkable neighbourhoods, and urban amenities.

Sellers should consider these trends when marketing properties.

8. Increased Focus on Climate Resilience

With climate change impacts becoming more pronounced, properties in areas prone to natural disasters will need to prioritize resilience. Buyers will seek homes with features like reinforced structures and flood protection.

The real estate market in 2025 offers new opportunities and challenges. Knowing these trends can help you manage your buying, selling, or investing with confidence. Being prepared and adaptable will be essential for success in the coming year.

If you’re ready to take the next step, don’t hesitate to reach out. A knowledgeable real estate agent can provide invaluable insights, helping you make informed decisions in this dynamic market. Call us!

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When Is The Best Time To Buy a House?

Timing is important when you want to get the best deal in the housing market. Here’s a breakdown of factors to consider when deciding the best home-buying time.

Seasonal Trends

1. Spring and Summer

These months are the peak buying seasons for real estate. There’s typically a surge in listings, giving buyers more options. However, this also means increased competition, which can drive up prices. Sellers are often eager to close deals before the start of the school year, which can lead to faster transactions but fewer price negotiations.

2. Fall

As the summer rush slows, fall often provides a sweet spot for buyers. With fewer active buyers in the market, sellers may be more willing to negotiate on price or offer concessions. Inventory is still relatively high, but competition is lower, making it a favourable time for serious buyers.

3. Winter

The winter months, particularly around the holidays, tend to be the slowest for real estate. While fewer homes are on the market, sellers are often highly motivated during this time, leading to potential bargains.

Market Conditions

1. Buyer’s Market vs. Seller’s Market

  • A buyer’s market occurs when there’s more inventory than demand, giving buyers the upper hand. This scenario can lead to lower prices and greater room for negotiation.
  • A seller’s market is characterised by high demand and low inventory, which can lead to bidding wars and higher prices.

2. Location-Specific Trends

Real estate varies by location, so timing can differ from one area to another. Some places may have a competitive market all year, while others may see big changes with the seasons. To understand your local market, it’s important to research trends and talk to a knowledgeable real estate agent like Randy and Heidi. They can give you valuable insights.

Here’s the Sonoma County market update. If you want to know what these numbers might mean, please call us to discuss the current market trends.

3. Interest Rates

Mortgage interest rates significantly affect the affordability of a home. Lower rates reduce monthly payments, making homeownership more accessible. Keeping an eye on economic trends and Federal Reserve decisions can help you predict rate fluctuations.

As of October 2024, the national average 30-year fixed mortgage rate for single-family homes is 6.4%.

Personal Readiness

1. Financial Stability

The best time to buy a house is when your finances are in order. This includes having a steady income, a strong credit score, and enough savings for a down payment and closing costs.

2. Long-Term Goals

Consider your lifestyle and plans. Are you ready to commit to staying in one place for several years? Do you have a clear understanding of your housing needs?  

3. Debt-to-Income Ratio

Lenders use this metric to assess your ability to repay a mortgage. Ensure your debt-to-income ratio is within an acceptable range to secure favourable loan terms.

There’s no universally “perfect” time to buy a house. The best time depends on market conditions, the season, and your situation. By looking closely at these factors and getting your finances in order, you can make a smart choice and find a home that fits your needs and budget.

Posted in: Home Buying Tagged: #buyersagent, #homebuyer, #homebuying, #homeownership, #luxuryhome, #luxuryrealestate, #mackandfaulkner, #mackfaulkner, #mortgagerates, #realestate, #realestateagent, #realestatemarket, #realtor, #sebastopolrealesate, #sonomacountyrealestate

What Credit Score Do You Need for Homeownership?

When purchasing a house, having a good credit score is vital. A credit score is a number that represents how likely you are to repay your debts and shows your creditworthiness to lenders.

A higher credit score typically results in lower interest rates and better loan terms, while a lower score may lead to higher interest rates or loan rejection.

What credit score do you need to buy a house?

The credit score needed to buy a home can differ based on the type of mortgage and the lender’s requirements.

Generally, conventional mortgages may require a minimum FICO score of 620. However, FHA (Federal Housing Administration) loans may accept lower credit scores starting at 580, which is popular among first-time homebuyers.

What are the factors that affect your credit score?

It’s common for lenders to look at your FICO scores to meet loan qualifications for Fannie Mae, Freddie Mac, VA, FHA, and USDA.

How FICO scores are calculated:

  1. Your payment history: A timely credit card payment history positively impacts your credit score. Bankruptcy, liens, and collections may also affect it.
  2.  How much do you owe, and where?: If you owe a significant amount of money in multiple accounts, it may indicate that you are overextended. However, dividing debt among several accounts can help you avoid the maximum on any credit line.
  3. Your credit history’s length: The longer an account has been open, the better.
  4. How much new credit do you have?: New credit cards, instalment plans, or other forms of credit carry a higher risk, even if paid promptly.
  5. Your credit mix: It’s ideal to have a mix of credit types, including instalment loans, credit cards, and a mortgage.

What is a good credit score to buy a house?

720 or higher is considered good. Borrowers with credit scores of 800 or higher are likely to qualify for the best mortgage rates and terms available.

FICO credit score range

Below 580

Poor

580-669

Fair
670-739

Good

740-799

Very good

800 and above

Exceptional

 

When purchasing a house with a partner

Lenders typically use the lower of the two borrowers’ middle credit scores to determine loan eligibility and interest rates.

Therefore, both partners should maintain good credit and work together to improve their credit scores before applying for a mortgage.

How to improve your credit score

  1. Check your credit report: Download one free credit report annually at annualcreditreport.com. Review for errors and correct any discrepancies immediately.
  2. Pay down credit card bills: Pay all your bills on time to demonstrate responsible financial behaviour.
  3. Don’t charge your credit card to the max: Aim to keep your credit card balances below 30% of your available credit limit. Using a lot of your available credit may lower your credit score.
  4. Don’t open new credit card accounts: Opening new credit accounts within a short period can signal financial instability to lenders, and having too much credit can lower your credit score.
  5. Wait 12 months after credit difficulties to apply for a mortgage: You’re penalised less severely for problems after a year.
  6. Shop for mortgage rates once: Too many credit applications can lower your score. However, multiple inquiries about your credit score from the same type of lender are counted as one if submitted over a short period.

Achieving homeownership is an exciting journey, but it’s important to understand your credit score’s role in making that dream a reality. Start taking proactive steps to improve your creditworthiness today.

Finally, we hope you found the information helpful. Please don’t hesitate to reach out if you have any questions or want to learn more. We are always happy to provide assistance and support.

Posted in: Home Buying, Real Estate Resources Tagged: #agent, #artisansothebys, #buyersagent, #creditscore, #forestville, #healdsburg, #homebuyer, #homeownership, #luxuryhome, #luxuryrealestate, #mackfaulkner, #mortgageloans, #mortgagerates, #petaluma, #realestate, #realestateagent, #realtor, #realtors, #sebastopol, #sonomacounty, #windsor, HeidiFaulkner, RandyMack, santarosa

Understanding HOA – A Guide for Home Buyers

If you’ve recently started your home-buying journey and came across the term Homeowners Association (HOA) but are unfamiliar with its role and impact on your decision-making process, this guide is for you.

Let’s delve into the essential things you need to know when purchasing a home in an HOA-governed community.

What is an HOA?

HOA stands for Homeowners Association. It is a governing body most commonly found in condominiums, co-op communities, and some single-family home neighbours.

Additionally, homeowners within the community typically become members upon purchasing property and must pay fees to support the association’s activities.

What do HOA fees cover?

Typically, HOA fees cover the maintenance and management of common areas and amenities within a community. These fees can vary widely depending on the specific HOA and its services, but they usually include:

  1. Landscaping and Grounds Maintenance: This can include the upkeep of lawns, trees, shrubs, and shared green spaces.
  2. Exterior Maintenance: Maintenance and repairs for exterior features like roofs, siding, and fences.
  3. Utilities: Fees for communal utilities such as water, sewer, and sometimes trash removal or recycling.
  4. Amenities: Maintenance and operation costs include swimming pools, tennis courts, fitness centres, clubhouse facilities, playgrounds, and walking trails.
  5. Insurance coverage for public areas.
  6. Security: If applicable, fees for security services like cameras, gates, and guards.
  7. Reserve Fund Contributions: Funds set aside for future repairs, replacements, or upgrades to communal areas or infrastructure.

How much are HOA fees?

HOA fees vary widely depending on location, amenities, and services. On average, HOA fees can range from $100 to $700 per month. According to the US Census, the average HOA fee in 2021 was $191 a month.

Moreover, some luxury communities with extensive amenities may have higher fees, while associations with fewer amenities may have lower fees.

Benefits of HOAs

  1. Access to Community Amenities: Amenities that may be too expensive to own and maintain alone, like a swimming pool, tennis court, or gym.
  2. Less maintenance work: Generally, tasks like raking leaves and clearing snow are often included.
  3. Property Value: HOAs enforce rules and regulations to maintain uniformity and attractiveness, which can help preserve property values within the community.
  4. Community Engagement: They foster community through organised events, newsletters, and social activities, promoting neighbourly interactions.
  5. Better Security

Drawbacks of HOAs

  1. Fees: Homeowners must pay monthly fees, which can be a significant financial burden on top of mortgage payments and property taxes.
  2. Restrictions: HOAs impose rules regarding property appearance, landscaping, parking, and even paint colours, limiting homeowners the freedom to personalise their properties.
  3. Limited Control: Homeowners may feel constrained by the decisions made by the HOA board, especially if they disagree with the direction or priorities of the association.

Overall, whether an HOA is beneficial or not depends on individual preferences, lifestyles, and priorities. HOAs offer a sense of community and amenities that some homeowners find appealing, while others may find the fees and restrictions burdensome.

Therefore, by decoding the complexities of these fees, you empower yourself to make informed decisions. Whether you’re a first-time homebuyer or a seasoned homeowner, we hope this guide equips you with the needed knowledge.

Lastly, if you have any questions about real estate, you may visit Real Estate Explained for buyers and sellers alike. We have valuable guides to help you navigate the real estate process. Or if you’d like to talk more about HOA, please don’t hesitate to call us.

We are happy to help you in any way we can throughout your home-buying journey!

Posted in: General, Home Buying, Real Estate Resources Tagged: #agent, #artisansothebys, #buildtosuit, #buyersagent, #familycompound, #forestville, #healdsburg, #hoa, #homeamenities, #homebuyer, #homebuyerguide, #homebuying, #homemaintenance, #homeownersassociation, #homeownership, #luxuryhome, #luxuryrealestate, #mackandfaulkner, #mackfaulkner, #petaluma, #realestate, #realestateagent, #realtor, #sebastopol, #sonomacounty, #sothebysrealestate, #windsor, HeidiFaulkner, RandyMack, santarosa

Choosing the right realtor: questions to ask before you hire

A knowledgeable and experienced realtor can make a significant difference in your overall experience. To ensure you find the best fit for your real estate needs, here are some questions to ask potential realtors before hiring one.

1. What’s your experience in the local market?

Ask about their years in the business and how many transactions they’ve completed, especially in your target neighborhood.

Experience in your specific market can be a valuable asset.

2. What’s your business philosophy?

While there’s no right or wrong answer to this question, the response will help you assess what’s important to the agent and determine how closely the agent’s goals match yours.

3. Are you a full-time realtor?

Some realtors work part-time or have other commitments.

While this doesn’t necessarily disqualify them, you would want to know how accessible and dedicated they will be during your real estate transaction.

4. What’s your marketing strategy for sellers?

Ask about how they plan to market your property, including online listings, open houses, and any unique tactics they may use to attract potential buyers.

5. How will you help me find the right property as a buyer?

For buyers, know how the realtor plans to help you find the right property.

Ask about their approach to searching for homes, scheduling viewings, and negotiating offers on your behalf. 

6. Can you explain the process step-by-step?

A good realtor should be able to explain the buying or selling process in detail.

They should walk you through each step, from the initial consultation to closing, and answer any questions.

7. How will you keep me informed about the progress of my transaction?

The best answer here is a question. A realtor who pays close attention to the way you prefer to communicate and responds accordingly will make for the smoothest transaction.

8. What’s your approach to negotiation?

Negotiation skills are essential in real estate. Inquire about the realtor’s approach to negotiation and their track record in securing favorable deals for their clients.

9. Do you have any designations or certifications?

Real estate professionals have to undergo additional specialized training to obtain these distinctions.

Designations and certifications help define the skills that an agent can apply to your particular real estate needs.

10. What sets you apart from other realtors?

This question can help you understand the realtor’s unique strengths and value proposition.

Look for qualities and services that align with your specific needs.

In conclusion,

Choosing the right realtor is a significant decision that can impact the success of your real estate transaction.

By asking these questions, you can make an informed choice and work with a realtor who is best equipped, like Randy and me, to help you achieve your goals.

Artisan Sotheby's Real Estate Office
6984 McKinley St, Sebastopol, CA 95472

Additionally, we not only have the knowledge that comes with being a professional realtor and are highly adept at negotiating the best terms on behalf of our clients, but we also have a keen sense of neighborhoods, homes, and the people we are working with.

Also, unique homes require skillful marketing, through our local expertise and Sotheby’s International Realty’s interconnected global network of offices that are dedicated to the extraordinary.

Finally, we strive to provide the highest level of service and build lasting relationships with our clients. Randy and I can be there by your side, protecting the interests that you trust. Call us!

Posted in: General, Home Buying, Home Selling, Real Estate Resources Tagged: #agent, #artisansothebys, #buyersagent, #homebuyer, #homeownership, #mackfaulkner, #realestate, #realestateagent, #realtor, #sellersagent, #sonomacounty, #sothebysrealestate, Homeselling

Navigating the Closing Process: A Guide for Homebuyers

Real estate closing process

The closing process is the final step in a real estate transaction. Although this process seems overwhelming, it can be a smooth experience with proper planning.

If you plan to purchase a property, we are here to provide insights about this process.

Closing Process Timeline

You may expect to close 30 to 45 days after the contract is signed. However, this timeframe can vary depending on different circumstances, such as mortgage approval and the complexity of the transaction.

The Escrow Process

You are officially in escrow once both parties have signed the purchase agreement. Escrow refers to a financial arrangement in which a third party, the escrow agent, holds the deposited earnest money.

The escrow process typically involves the following:

  1. Opening the escrow account
  2. Completing the inspection and repair requests
  3. Mortgage application and underwriting
  4. Appraisal
  5. Acquiring homeowners insurance and title insurance
  6. Loan approval
  7. Final walk-through
  8. Closing appointment

Is Earnest Money Refundable?

NAR, Earnest Money & Escrow Real Estate: There are several scenarios when a buyer could face forfeiting their earnest money. If a buyer waives contingencies, ignores timelines, or gets cold feet, it could mean losing the earnest money deposit.

When it comes to real estate, a case of buyer’s remorse could be even more painful than a lost deposit. To avoid both, ensure the home you’re bidding on is “the one.”

How Much Are Closing Costs?

Zillow: Buyer closing costs are usually between 2% to 5% of the home’s purchase price. For example, if the home costs $300,000, you might pay between $6,000 and $15,000 in closing costs.

A lot of factors impact how much you’ll pay in closing costs. For buyers, it depends on your loan program, the size of the loan, and individual lender practices. For sellers, it comes down to what you’ve negotiated in terms of concessions and agent commission.

Track Your Closing Costs

Be prepared and know who’s responsible for the fees and expenses at the closing table. We have prepared a worksheet to help you track your closing costs.

Homeowners Insurance

A homeowners insurance policy will protect you against certain losses and damage to your new home and is generally required by lenders before closing.

Moreover, some lenders will collect the money you owe for homeowners insurance as part of your monthly mortgage payment and place it in an escrow account, paying the insurer on your behalf when the bill is due.

Title Insurance

Title insurance protects your ownership right to your home; from fraudulent claims against your ownership and mistakes made in earlier sales.

Additionally, in some states, it is customary for the seller to purchase the policy on your behalf.

Final Walk-Through

Conduct a final walk-through of the property before closing. To guarantee that the house is in the same or better condition if you negotiated repairs after the home inspection.

Here’s a detailed list of what to check on your final walk-through.

Transfer of Ownership

Once all the documents are signed, funds are transferred, and the closing is complete, property ownership officially transfers to you. 

Congratulations! At this point, you will receive the keys to your new home.

In Conclusion,

Preparation is vital; from gathering all necessary documentation to conducting a thorough home inspection. 

Also, staying in close communication with your real estate agent and other parties involved will keep you updated on the progress.

Furthermore, we understand that the closing process can be daunting, and we are here to help you fill the gaps in your home-buying knowledge. Call us, and we will establish a plan to achieve your personal real estate goals.

Finally, best of luck on your journey, and may your new home bring you years of happiness and fulfillment!

Posted in: Home Buying, Real Estate Resources Tagged: #artisansothebys, #buyersagent, #closingprocess, #forestville, #healdsburg, #homebuyer, #homebuyerguide, #homeownership, #luxuryhome, #luxuryrealestate, #mackfaulkner, #petaluma, #realestate, #realestateagent, #realestatetips, #realtor, #sebastopol, #sonomacounty, #sonomacountyrealestate, #windsor, HeidiFaulkner, RandyMack, santarosa

Prepare for the Spring Real Estate Market 2023

As the flowers start to bloom, the real estate market is getting ready for one of the most active real estate seasons: spring. The spring real estate market can be very competitive, with more buyers and sellers entering the market. If you plan to buy or sell a home this season, it is important to be prepared.

Start preparing for the Spring Real Estate Market

Here are some tips to put you in the best position this season. Whether you are buying or selling a home, the spring market can be a great opportunity to achieve your real estate goals.

  1. Start planning early:   The earlier you start planning, the better prepared you will be. If you are planning to sell your home, start decluttering and cleaning out your home. If you are planning to buy a home, start researching neighborhoods and determining your budget.
  2. Find a reputable real estate agent:  A good real estate agent can help you navigate the competitive spring market. Look for agents like Randy and Heidi who are experienced, have a good track record of success in the local market, and know the local sales trends. Read more on About Us to get to know us.
  3. Get pre-approved for a mortgage:   If you plan to buy a home, get pre-approved for a mortgage before you start house hunting. This will give you an advantage in a competitive market and show sellers that you are a serious buyer.
  4. Price your home correctly:  If you are planning to sell your home, make sure you price it correctly. A real estate agent can help you determine the appropriate price based on comparable homes in your area and current market conditions.
  5. Make necessary repairs and improvements:  If your home needs repairs or improvements, make them before listing your home. This can help your home sell faster and for a higher price.
  6. Stage your home:   Staging your home can help it sell faster and for a higher price. Hire a professional or use online resources to stage your home and make it more appealing to buyers. Check out Home Staging Success for staging tips and tricks.

Homebuying Forecast

Michael Hyman, NAR Research Data Specialist, Housing Affordability Conditions Improved in January 2023 for the Third Consecutive Month, at the national level, housing affordability rose in January compared to the previous month, according to NAR’s Housing Affordability Index. Compared to the prior month, the monthly mortgage payment decreased by 3.3% while the median price of single-family homes declined by 2.4%, making home buying more affordable in January. The monthly mortgage payment decreased by $62 from last month.

Sonoma County Housing Market

Redfin: In February 2023, Sonoma County home prices were down 4.9% compared to last year, selling for a median price of $745K. On average, homes in Sonoma County sell after 48 days on the market compared to 29 days last year. There were 226 homes sold in February this year, down from 332 last year.

Work with experienced real estate agents

The real estate market is busy during the spring season as many houses are put up for sale. Unique homes require skillful marketing, and we can help you make your home stand out and be marketed effectively. If you are planning to enter the real estate market this season, give us a call!

Posted in: General, Home Buying, Home Selling, Real Estate Resources, Real Estate Trends + Stats Tagged: #artisansothebys, #buyersagent, #forestville, #forestvillerealestate, #healdsburg, #healdsburgrealestate, #homebuyer, #homeownership, #interestrates, #luxuryhome, #luxuryrealestate, #mack-faulknerrealestate, #mackandfaulkner, #mackfaulkner, #mortgagerates, #petaluma, #petalumarealestate, #realestate, #realestateagent, #realestatemarket, #realtor, #sebastopol, #sebastopolrealesate, #sonomacounty, #sonomacountyrealestate, #sothebysrealestate, #windsor, #windsorrealestate, HeidiFaulkner, RandyMack, santarosa, santarosarealestate, Sellingyourhome

Discovering The Communities in Sonoma County

Sonoma County is known for its natural beauty, diverse communities, and thriving real estate market. One of its highlights is its wine industry, with over 400 wineries producing world-class wines.

Aside from wine, it is also home to several charming cities and towns, each with its unique character. If you are looking to buy a home in Sonoma County, there are many great communities to choose from:

 

Petaluma

Photo by Crissy Pascual/Petaluma Argus-Courier

Nestled on the side of Sonoma Mountain, Petaluma is a small town with a historic downtown. With a history in the Gold Rush and many historic ties to a rich agricultural heritage, Petaluma is a town with the ranch’s work ethic and the artist’s culture.

It is now a hub for technology and innovation. Petaluma is where history, culture, and innovation find confluence and was also ranked No. 1 in Niche as the best place to live in Sonoma County.

Click here for active Petaluma listings.

Data Dive
Key Facts Petaluma
Population 59,776
Median household income $100,379
Median home value $697,700
Median rent $2,144
Avg. commute (mins.) 31.3

Source: American Community Survey data. Medians are weighted based on the number of owner-occupied housing units, 2021 ACS 5-Year Estimates Data Profiles.

 

Sebastopol

Photo by Christopher Chung

Located only 52± miles north of urban San Francisco, Sebastopol has a small-town feel with culture beautifully mixed in. Only a 20± minute drive to the Pacific Ocean, this charming town is influenced by the natural scenery surrounding it and the artistic and agricultural endeavors throughout the area.

Furthermore, the rural areas directly outside Sebastopol are covered in luscious vineyards and productive orchards. Crops are celebrated through annual festivals such as the Apple Blossom Festival and the Gravenstein Apple Fair.

Sebastopol is a popular destination for those who value a slower pace of life.

Click here for active Sebastopol listings.

Data Dive
Key Facts Sebastopol
Population 7,521
Median household income $89,679
Median home value $696,500
Median rent $1,555
Avg. commute (mins.) 25.9

Source: American Community Survey data. Medians are weighted based on the number of owner-occupied housing units, 2021 ACS 5-Year Estimates Data Profiles.

 

Healdsburg

Photo by John Burgess / The Press Democrat

Healdsburg is situated amidst the country’s three most important wine regions, giving this town accolades including a continuous award as one of the “Top 10 Smallest Towns in America.”

With the Russian River, Dry Creek, and Alexander Valley in the surrounding area, Healdsburg is yet another charming gateway to wine country.

Moreover, with its central plaza, from the 19th century, Healdsburg has an impeccable charm that is only rivaled by its mild climate and a strong sense of community.

Click here for active Healdsburg listings.

Data Dive
Key Facts Healdsburg
Population 11,340
Median household income $94,375
Median home value $824,300
Median rent $1,942
Avg. commute (mins.) 21.3

Source: American Community Survey data. Medians are weighted based on the number of owner-occupied housing units, 2021 ACS 5-Year Estimates Data Profiles.

 

Santa Rosa

Photo by Lizzie Simon

Being the largest city along the Northern California coast, Santa Rosa attracts the standard American amenities and artisan businesses that make Northern California unique. Located 55± miles north of San Francisco, this small city is the perfect gateway to Sonoma wine country.

The Mediterranean climate allows for the luxurious indoor-outdoor lifestyle enjoyed by residents and visitors and is also perfect weather for all the grapes grown in the area.

For all these reasons and more, the horticulturist Luther Burbank said of his home, “I firmly believe, from what I have seen, that this is the chosen spot of all this earth as far as Nature is concerned.”

Click here for active Santa Rosa listings.

Data Dive
Key Facts Santa Rosa
Population 178,127
Median household income $84,823
Median home value $598,700
Median rent $1,837
Avg. commute (mins.) 23.2

Source: American Community Survey data. Medians are weighted based on the number of owner-occupied housing units, 2021 ACS 5-Year Estimates Data Profiles.

 

Forestville

Photo by Beth Schlanker/The Press Democrat

Nestled 60± miles north of San Francisco, this small town has a long history of cultural richness. With the redwood forests to the west and the rolling hills speckled with prolific vineyards to the south, the natural beauty helps create the artistic energy emanating from Forestville.

With the town’s unofficial motto being “Forestville, The Good Life”, this idyllic local lives and breathes its self-adopted mantra.

In addition, with events such as the Forestville Youth Park Parade, eateries like the Russian River Pub, and innumerable outdoor opportunities, the sense of place and pride of the community in Forestville is felt by residents and day-trippers alike.

Click here for active Forestville listings.

 

Windsor

Photo by Alvin Jornada/The Press Democrat

Windsor is a vibrant community that attracts visitors and residents alike. It offers visitors and residents a unique blend of outdoor recreation, cultural events, and fine wine.

The Foothill Regional Park, located just south of Windsor, features hiking trails, picnic areas, and a lake for fishing and swimming.

Whether you’re looking to explore the outdoors, relax with a glass of wine, or immerse yourself in the local arts scene, Windsor is the place to be.

Click here for active Windsor listings.

 

In conclusion,

These are just a few of the many communities that Sonoma County has to offer. Whether you’re a wine lover, foodie, nature enthusiast, or history buff, there’s plenty to enjoy. Consider these communities when searching for your dream home in this beautiful part of California.

Heidi and I are experts in Sonoma County as lifelong residents. We have hiked the trails, ridden our motorcycles up and down the roads, camped in the parks, attended festivals, shopped in the stores, and attended community meetings. Involvement in the community is our passion.

Additionally, we have worked in real estate for 45 years combined, bringing our love for this place to our craft to help you make a home here as we have in Northern California.

Learn more about what it is like living in a wine country.

We know Sonoma County; we know real estate. Call us, and we can help you reach your real estate goals.

Posted in: General, Home Buying, Real Estate Trends + Stats Tagged: #artisansothebys, #buyersagent, #forestville, #healdsburg, #homebuyer, #homeownership, #luxuryhome, #mackandfaulkner, #petaluma, #realestate, #realestateagent, #sebastopol, #sonomacounty, #sonomacountyrealestate, #windsor, santarosa

Sonoma County First-time Home Buyer Loans in 2023

Purchasing a home can seem like a completely overwhelming endeavor. After all, it is one of the most significant investments you can make, with numerous steps and requirements.

However, various types of loans are available to Sonoma County first-time home buyers who require assistance.

First-time home buyer loans:

The average down payment for a house in California is between 15% and 20% of the purchase price. If you can afford this price, you can get a conventional loan with a low-interest rate.

However, there is some first-time home buyer who doesn’t have this much money saved for a down payment. Fortunately, there are mortgage plans that have a low-down payment:

VA loan: Sponsored by the Department of Veterans Affairs, VA Loans are open to veterans, reservists, active-duty personnel, and surviving spouses and are one of the only options available for zero down payment loans.

FHA loan: Backed by the Federal Housing Administration, FHA loans are open to anyone, and while they require a down payment, they can be as low as 3.5 percent. Drawbacks include a slower loan process and the need to pay mortgage insurance for FHA loans.

USDA loan: Organized by the U.S. Department of Agriculture as part of its Rural Development Guaranteed Housing Loan program. USDA offers financing with no down payment, lenient requirements, and competitive mortgage rates.

Conventional 97: With Fannie Mae, you may qualify to borrow up to 97% of the value of your home, leaving you with only 3% to cover your down payment. This type of loan requires a credit score of 620 and higher, and at least one of the borrowers must qualify as a first-time home buyer.

If you’re not sure which type of loan to get when buying your first home, your lender or realtor can help you find the right fit based on your finances, and your realtor can also guide you by discussing alternatives and developing a plan of action to achieve your personal real estate goals.

How to choose your realtor on your first home-buying:

When choosing a realtor, it’s essential to know how long they have been in residential real estate. Like most professions, experience is no guarantee of skill. However, a large portion of real estate is learned on the job. Randy and I bring 45 years of industry experience in residential, commercial, and land sales.

We are here to help you fill the gaps in your home-buying knowledge. The more familiar you are with the procedure, the less overwhelming it will be.

If you are considering becoming a homeowner in Sonoma County, we hope you’ll give us a call. There is never any obligation, of course—and the old saying is true in this case: it can’t hurt to ask!

Posted in: General, Home Buying, Real Estate Resources Tagged: #artisansothebys, #buyersagent, #forestville, #healdsburg, #homebuyer, #homeownership, #interestrates, #luxuryhome, #luxuryrealestate, #mackandfaulkner, #mackfaulkner, #mortgagerates, #petaluma, #realestate, #realestateagent, #realtor, #sebastopol, #sonomacounty, #sonomacountyrealestate, #sothebysrealestate, #windsor, HeidiFaulkner, RandyMack, santarosa

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Contact Information

Randy Mack and Heidi Faulkner
Artisan Sotheby's International Realty
6984 McKinley Street
Sebastopol CA 95472
(707) 696-6272
(707) 480-4098
Fax: (707) 824-0587
Send an Email
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About Us

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.

Testimonials

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
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Contact Us

Randy Mack - Realtor CA BRE#01252462
randy@mack-faulkner.com

(707) 696-6272
6984 McKinley Street
Sebastopol, CA 95472



Heidi Faulkner - Realtor CA BRE#01227446
Heidi@mack-faulkner.com

(707) 480-4098
6984 McKinley Street
Sebastopol, CA 95472



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