#homeownership – Artisan Sotheby's International Realty

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!

Home Design Trends You Need to Know in 2023

The new year is upon us, signifying a time of change and new beginnings. Home design trends come in waves and now feels like the perfect time for a change.

If you are looking to buy a new home or make changes to your current one, you are probably curious about the design trends that will be popular in 2023.

Color of the year

According to The Psychology of Color in Spaces by Stoneside, color psychology focuses on color to create a specific atmosphere and mood. Hues are carefully chosen to invoke a certain emotional response in people and set a particular mood.

Furthermore, research into color theory has ascribed defined emotions to each hue, and it also takes into account various factors such as tint, saturation, and tone.

Moreover, if you have been thinking of repainting your walls, colors that bring warmth and coziness to the room are relevant in the year 2023.

However, this does not mean that you should avoid the darker hues entirely, as they will help you create a sleek and sophisticated space, so keep this in mind when designing your interior.

Warm White

This color is neutral and has always been the safest pick. As a result, it allows you to use richer, brighter furniture or even go with the classic beige, which is the most versatile tone to create that warmth and calming effect.

Desert Carnation

If you want to create a cozy and inviting atmosphere, use earth-tone colors because they promote a nature-friendly atmosphere that creates a sense of tranquility.

Blue Arrow

“A shade that promotes balance within the home, merging cool tones of blue with a warm undertone.”

– Sue Kim, Valspar®

Dark Countertops

Dark countertops add character to your kitchen, giving it a dramatic look and strong appeal. This design can result in a refreshing, luxurious, and moody appearance.

Organized Space

Gena Kirk, Design expert in KB Home Design Studio says, “we’re seeing a lot less desire for open shelving—a very big trend for a long time—and glass front doors. We’re seeing customers who want to close things up and organize them well.”

Additionally, if you want to keep clutter at bay, invest in some furniture with hidden compartments to help you store your belongings without taking up any additional space in a room.

Minimalism

Minimalism has been a thing for some time and is here to stay. This interior design creates a simple and clean space that usually uses a monochromatic color scheme.

Kristin Hohenadel, Interior Design Expert, says that “minimalist design is about prioritizing the essentials. A minimalist building, object, or interior design is stripped to its core function, realized using limited materials, neutral colors, simple forms, and avoiding excess ornamentation to achieve a pure form of elegance.

Additionally, while the final expression of a minimalist design might appear effortlessly simple, as spare as a poem, and as clear as a bell, achieving this kind of powerful simplicity is anything but easy.”

In line with this, the overall takeaway from what design experts anticipate will emerge in 2023 is a functional, inviting, natural, and comfortable space.

If you are looking for ideas for a new kitchen, bedroom, living room, or other home space to remodel, this will hopefully help.

Finally, we wish you a happy new year! May it be filled with new adventures and good fortunes. We look forward to helping you with all your real estate needs in 2023. Give us a call!

Renting vs. Buying a Home: Which is Better?

Which is better? Should you rent or buy a home? Because it requires less capital, renting is frequently perceived as less expensive than purchasing a home. Buying a home, on the other hand, is an investment that increases your equity. Aside from these obvious factors, there are others to consider. To assist you in deciding whether to rent or buy, we have listed the pros and cons of each option in this article.

Deciding between renting or buying a home depends on your lifestyle and financial situation. Do you intend to temporarily live in the area, maintain flexibility and mobility, or save money for a down payment? Renting might be the ideal decision for you. At least for the time being.

Alternatively, if you want to build investment equity over time while also having the stability and freedom to change your living space, now is the best time to buy a home.

Furthermore, in most cases, purchasing a home may save you money. Because the interest on your home mortgage is tax deductible, you will save money on taxes. If you rent, your landlord gets the break. Also, the sooner you buy a home, the sooner you can begin building equity in an investment that you can use for retirement or other investment plans. Why pay the landlord’s mortgage when you can pay your own?

Finally, you would want to evaluate the real estate market. Heidi and I are very knowledgeable about current real estate trends and offer our clients exceptional expertise in assessing and securing an upcoming purchase in the current market. If you have a dream home that you can’t wait to build or are still not sure whether renting or buying is the best option for you, contact us and let us help you with our professional advice.

Living in Wine Country: Sonoma County, California

Travelers currently visiting or about to return from a wine country trip often wonder, “what is it like to live here?”. In this article, learn more about what the California Wine Country offers.

Sonoma County provides diverse cultural and recreational opportunities with its breathtaking and vibrant natural scenery, lush vineyards, and warm weather. California has the perfect climate. The winters are mild, and the summers are sunny and dry; you may appreciate the attractions all year round.

Randy and I love being outside and taking advantage of the perks of living in wine country. We still enjoy the calming scenery more often than not, considering that we have lived here for over 30 years.

Moreover, Sonoma County is also home to world-class wineries and local restaurants with the famous farm-to-table movement and Michelin-starred restaurants. These restaurants focus on growing or sourcing their produce and meats locally.

Additionally, due to the many different ethnic influences present, Sonoma County is known for its diverse culinary style.

Food — Photo by © Mariah Harkey | sonomacounty.com

Furthermore, Sonoma County is the place to be if you enjoy exploring the outdoors, with over 50 regional parks and trails with spectacular views and many outdoor activities like golfing, camping, biking, walking, swimming, hiking, and many more.

With this in mind, Sonoma County is also famed for its luxury hotels and resorts, historic architecture, and culture. With easy access to the mountains, forests, and coastal locals, Northern California is a paradise, no matter your idea of utopia.

Sonoma County Beach — Photo by © Spencer Spellman | sonomacounty.com

In all honesty, Randy and I consider ourselves blessed to live in Sonoma County. It has been our home for years, and we would not have it any other way. As a result, we remain appreciative of living in such a beautiful part of the world and grateful to the community with which we share it.

Nonetheless, living in a Wine Country is like living in a dream, and if you want to make that dream a reality, reach out and let us help you achieve your Sonoma County real estate goal.

Kitchen Trends

Since the outbreak of the pandemic, homeowners have been eager to spruce up their living spaces. According to the 2022 U.S. Houzz and Home Study, the kitchen is the most popular space that many homeowners choose to renovate. Trends in kitchen design continue to evolve, with upgraded technology in fixtures and appliances, creating more storage, and using earth-tone accents. Making each space multifunctional to maximize what the house is capable of offering.

Butcher Block Countertops

Butcher block countertops are inexpensive, warm, inviting, and add character to your kitchen. Wood’s functionality and beauty add a rustic, authentic feel to a kitchen.

Green Shades

The green shade is a very soothing color that has a subtle tone but a strong appeal. That will give your kitchen a relaxing look.

Double Islands

A double kitchen island typically serves two distinct functions. They are typically parallel, but they can also be side by side or configured in any way that you would like. Double kitchen islands separate prep and dining/work areas, breaking up the monotony of the layout and adding much-needed interest in a large open plan space. They’re also one of those kitchen ideas that can work in smaller spaces.

Marble

Marble is a luxurious material that can be used in any room of the house. It is a magnificent option for kitchen countertops. Marble kitchen countertops give the room a striking and sophisticated appearance. In any room, they look fantastic and luxurious. They can also increase the value of your home.

If you’re looking for inspiration for a new kitchen remodel, hopefully, this may have given you a few ideas.

Questions to Ask Yourself Before Buying a Home

Purchasing a home is one of the most significant investments you can make. There are numerous factors to consider, it is important to know all of the facts first before making a decision. The overall housing situation is undoubtedly difficult, so there is no reason not to be cautious and thoughtful when approaching this topic. Before deciding on one to call your own, consider asking yourself these questions to make your future home-buying experience go more smoothly.

1. How much money have I set aside for a down payment?

The average down payment for a house in California is between 15% and 20% of the purchase price, but this can vary depending on your mortgage lender and financial situation.

Lenders will lend you hundreds of thousands, if not millions, of dollars when you buy a house. Buyers, in turn, contribute a portion of the purchase price to gain initial equity in the property. Each mortgage option, however, is distinct, and homebuyers must determine which financing options are best for them. More money put down at closing results in lower monthly mortgage payments and interest.

As a result, California residents thinking about buying real estate should create a budget and start saving for a down payment well in advance of making a decision.

2. Is my credit score high enough?

If buying a home is one of your financial goals, think about the role a good credit history plays in the process. Most mortgage loans require a minimum credit score, and some lenders may have stricter requirements for certain borrowers.

3. Do I have a steady income?

A stable job, consistent income, and a good credit score are the best indicators of readiness. Your family situation must also be taken into account.

4. What kind of home do I like?

Before purchasing, ensure that the property offers everything that you look for in a home. It is vital to consider learning about its neighborhood and have it thoroughly inspected as it is critical to understand what repairs the house may require.

5. Can I trust my agent?

The right real estate agent can make or break your home-buying experience, so find one that you can truly rely on. Your agent should be able to give you an honest assessment of a home’s value, as well as the pros and cons of its size, location, and condition.

In conclusion, purchasing a home can be overwhelming in a competitive market and stressful during the best of times. Although, understanding what you are getting into, knowing what is required of you, and finding the right real estate agent will help you reach your goal smoothly.

Do you think you’re ready to become a homeowner? Heidi and I bring a combined 45 years of industry experience in residential, commercial, and land sales. We strive to provide the highest level of service in all phases of the buying and selling process. If you’re looking for your next Sebastopol real estate investment, Heidi and I can be there to serve as your voice—as well as to offer our experience, guidance, and advice you can count on. Call us!

How to Decorate Your First Home

Moving to a first home must be one of the most exciting events in everyone’s lives. Making new memories, purchasing new furniture, and putting your home décor ideas into reality. Decorating your home can be overwhelming; even if you already have a design or style in your mind, it helps to know some tips to transform your home smoothly.

Below, you will find a variety of tips to help you decorate your first home.

1. Declutter Your Current House

You should segregate all of your belongings as to which of your possessions are going to stay and which are not. Check all of them as to which ones will go with the style of your new home and its functions.

2. Decorate the Bedroom/s First

The bedroom is where we spend most of our time; where we relax and find our peace. Decorating can be a real challenge, having your own space ready and clean after a long day will help you destress.

3. Purchase Your Furniture Slowly

While it can be tempting to purchase all of the interiors in one go as you already have a style in mind and would want to get it over with – slowly decorating your space allows you to identify issues, allowing you to easily modify your decorations.

4. Create a Budget

Ensure that you are decorating smart. It’s easy to get carried away while looking for things that perfectly suit your style and end up buying expensive items. Create a budget and stick to it and you will find better options to improve the visual appeal and functionality of your space.

In conclusion, decorating your first home can be a hefty task, but it is possible to follow your home décor inspiration with proper planning and execution. If you’ve been thinking about how to start transforming your first home and making it your own, we hope that these tips would have been a help.

Sonoma County Market Trends

Heidi and I share over 40 years of experience in both residential and commercial real estate. We are setting new standards by refining the art of residential brokerage with a practiced eye for identifying the unique value of a property. We are very well versed in current real estate trends and offer our clients exceptional expertise when positioning their homes in today’s market or evaluating and securing an upcoming purchase.

The first couple of months of the year 2022 has been tough for the world, just as recovery from the pandemic seemed within reach, the current war has affected everyone’s lives. It has been an intense year, but we are thrilled to present you with the update on the Spring Real Estate in Sonoma County.

Properties sold 67% higher than last month and 14% lower than the same 1st Quarter of 2021.

The volume of new listings is 43% lower than last month and 49% lower than the same 1st Quarter of 2021.

Average Days on Market is 3% lower than last month and 30% lower than the same 1st Quarter of 2021.

“March sales data continues to suggest strong buying interest and a solid housing market, as the effects of higher mortgage interest rates won’t be realized for a few more months,” said CAR Vice President and Chief Economist Jordan Levine.

Rates may stabilize, rise further, or drop back down – they can change very quickly. The market is unpredictable, that’s why it is important to consult a real estate agent for a specific analysis of the neighborhood where you’re selling or buying. An informed decision goes a long way. Call us to establish a plan to achieve your personal real estate goals.

Adjustable-rate Mortgage

An adjustable-rate mortgage (ARM) is a mortgage loan with the interest rate on the note periodically adjusted based on an index that reflects the cost to the lender of borrowing on the credit markets. The loan may be offered at the lender’s standard variable rate/base rate. There may be a direct and legally defined link to the underlying index, but where the lender offers no specific link to the underlying market or index, the rate can be changed at the lender’s discretion. The term “variable-rate mortgage” is most common outside the United States, whilst “adjustable-rate mortgage” is most common in the United States and implies a mortgage regulated by the Federal government, with caps on charges. In many countries, adjustable-rate mortgages are the norm, and in such places, may simply be referred to as mortgages. (“Adjustable-rate mortgage,” n.d.)

“A 5/1 adjustable-rate mortgage has an average rate of 5.03%, an uptick of 13 basis points from seven days ago. For the first five years, you’ll typically get a lower interest rate with a 5/1 ARM compared to a 30-year fixed mortgage. However, you may end up paying more after that time, depending on the terms of your loan and how the rate adjusts with the market rate. If you plan to sell or refinance your house before the rate changes, an ARM may make sense for you. If not, shifts in the market may significantly increase your interest rate.” Justin Jaffe, cnet.com

To know if an ARM is a right fit for you, here are its pros and cons:

Photo from Slide 7 © Rosalinda Parks | Slideplayer.com

Adjustable-rate mortgages are risky, but as interest rates rise, more homebuyers are starting to consider them. ARMs have lower initial interest rates than 30-year fixed-rate mortgages, but the rate will change after a set period. Borrowers must then pay the fixed rate when their lock period expires, which can be risky if interest rates are rising at the time.

If you would like to know whether the ARMs or Fixed Mortgage is for you, Heidi and I will be there for you to give you the knowledge to have an informed decision—with our experience, you can count on us. Call us!

Outdoor living space

With the arrival of the warmer months, homeowners have been enthusiastic about decorating their outdoor environment. As the Covid-19 pandemic continues to spread and with more time spent at home and fewer opportunities for inside socializing, our outdoor spaces are more important than ever and their value continues to grow across the country.

The year 2022 is shaping up to be one of the most significant in the history of outdoor living spaces. Outdoor space design is becoming increasingly engaging, focusing on all those aspects that fulfill the demands of individuals who use it daily. Furthermore, having a useful and peaceful outdoor setting promotes and allows us to spend more time outside, which not only benefits our mental and physical health but also strengthens family relationships as this provides the opportunity to spend time with our loved ones.

As a result, architects and interior designers are paying closer attention to the various techniques that can transform an outdoor space into a pleasant and stylish living space like these:

The colors of the year 2022 feature earth-toned hues that make any place feel warm and welcoming, and choosing a nature-inspired furniture shade may instantly add comfort to a room. Picking hues suggestive of the outdoors, from deep reds and tans to inviting calm grays and beige, creates a tranquil outdoor environment. An outdoor living room can be used for a variety of purposes, including home offices and garden rooms, which are common amongst sophisticated homeowners. However, there is another compelling incentive to incorporate an outside space into our home: ours and our family’s health. It can be used to unwind, enjoy nature, and entertain family and friends in a comfortable and stylish living environment.

In addition, the hanging chair is one of the top furniture picks to be added to your outdoor living space, this chair is popular because of its coziness, longevity, and eye-catching patterns. Due to this, the demand for this stunning piece of furniture shows no signs of slowing down.

The chair is typically made of wicker or rattan and accented with a comfortable cushion, all of which is supported by a solid metal frame. Wicker adds an artisanal touch and aesthetic appeal without costing a fortune. Its neutral color blends perfectly with practically any existing design concept in your outdoor environment. The hanging chair is an excellent choice for unwinding.

Outdoor living space may improve our lifestyle in different ways, whether it’s for some quiet personal time to meditate or read a book, or entertainment purposes for family and friends; this concept will certainly help reduce stress levels and allows focusing on having both happier and healthier mind. If you have been looking for some ideas for an outdoor living space design, hopefully, this article would have been a help.