#petalumarealestate – Artisan Sotheby's International Realty

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.

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.
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.
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.
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.
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.
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!

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.

Deja Vu

Real estate is not unlike life. We experience pockets of time full of high-energy activity, coupled with slower, more quiet periods where we can reflect and regroup, followed by time frames of equality and balance and very little drama. Real estate is no different.

Once again, we are experiencing a frenzy of activity in the real estate market. Homes are selling before making it to the MLS; bidding wars, combined with higher prices and low inventory, are making buyers and sellers tense. Randy and I have experienced this type of extreme market before and are well versed in navigating both buyers and sellers through the experience.

For many reasons, people are moving all over the country, not just Sonoma County. Some are moving to level up their lifestyle. Some are downsizing, some have experienced a divorce or significant life change, and some want to live in an area more conducive to staying home for long stretches. The pandemic caused the market to skyrocket. Real estate is booming all across the United States; Sonoma County is not alone.

Our advice to both buyers and sellers is to stay calm, be prepared, and align yourself with a professional realtor to look out for your best interest throughout your transaction.

Buyers need to be prepared to overbid and not lose heart. Have an open mind and a realistic picture of what their must-haves are in a home. Ensure you are working with a Realtor who knows the area well and is experienced working with the other local agents, and is willing to be patient and go that extra mile with you.

Even in a seller’s market, sellers need to price at fair market value and have their property show-ready. Buyers are not interested in overpriced homes that are not well maintained.

One of the biggest challenges sellers face right now is scheduling inspections- well, septic and appraisals. Professionals all over the area are booking 3-4 weeks out. We suggest sellers get most of these types of inspections completed before even going on the market if possible. We see many properties under contract before they even come on the market, making the sellers who completed their inspections and property clean-up before listing their homes much better suited to having an easy transfer of ownership.

We recommend taking a deep breath and have confidence; no matter which side of the transaction you are on, you will get through it and enjoy whatever lies on the other side for you.

Spring Has Sprung!

The birds are chirping, the grasses are growing, the flowers are blooming, and real estate is hopping! After such an intense and challenging year, we are thrilled to have a full calendar showing property and the fast-paced nature of Spring Real Estate in Sonoma County.

We have seen a lot of improvement in the Real Estate market. Properties sold 33% higher than last month and 21% higher than the same 1st Quarter of 2020.

There is an average 5% increase in price-per-square-foot to last month and a 28% increase in price-per-square-foot to 2020.

Rounding out the statistics, the average days on the market, because inventory is still low, is now 23% lower than last month, and 15% lower than last month, and 27% lower than 2020.

There is a lot to be said for the real estate market improving; people are gaining confidence in our economy and the local area. We are seeing statistics reminiscent of Springs past that demonstrate the positive momentum moving into the summer.

Hang in there, Sonoma County. We are looking to fully reopen soon and resume our lives to the fullest.

Happy Spring!

A New Normal. A New Home.

Heidi and I continue to see a robust real estate market in Sonoma County, particularly in Sebastopol. A noticeable lack of inventory has increased demand, and homes’ reduced time spent on the market. Overall, even under the extreme circumstances, we are all facing daily, the market is trending upward.

Sonoma County, as a whole between May 2020 and June 2020, shows the number of homes on the market to be down and an increase in sales by 128% and a 43% increase in pending transactions. Due to the mandated shelter in place, these statistics make sense. Comparing these numbers to last year gives us the idea that inventory is still an issue no matter what has happened recently. Inventory is down 22% to June 2019. Compared to last June, sales are up by 4%, and pending purchases are up by 47%.

Sebastopol is a similar picture. Compared to last month, inventory has decreased even more by 11% and by 30% to the previous year. Sebastopol is up 145% to last month and 12% to the same time last year. Pending sales are up 116% to last month and 6% to the same time last year.

Heidi and I feel the uptick in the market directly correlates to the pandemic and the global changes it has made to how people live. “Home” now conjures a different set of rules and expectations. A home is now a place that functions on all levels of life and living. Vast numbers of people are currently working from home, schooling from home, sheltering in place for long periods, and even staycations. We are seeing that most people wish to upgrade their current circumstances, and if they are able, they are doing so by moving into a dwelling that avails itself to all these additional special requirements.

An article recently published in The Press Democrat by Meg McConahey How Covid-19 is forcing homeowners to rethink design mimics what we are witnessing with buyers. What people are looking for in a home has changed. Buyers are looking for more flexibility in a house and the spaces within. It gives a whole new meaning to the phrase “home sanctuary.”

Does your home make you happy? Give us a call. We would love to help you find your unique sanctuary here in Sonoma County.

Sonoma County Real Estate 2019 and 2020

As we do every year, we took a quick look back at the 2019 Sonoma County Real Estate Market. We reflected on what had the most profound impact on the housing market and some of the trends we are anticipating from Buyers and Sellers in 2020.

Two of the most significant pressures on the real estate market this year were the Kincaid wildfire and continued uncertainty of the Federal government.

The wildfires we have experienced over the last several years will continue to impact our housing market in multiple ways. The displacement of families, loss of property, and a shortage of rentals put stress on the real estate market. The Kincaid fire has been no exception.

As we have seen over the last few years, when there is political uncertainty globally or locally, the housing market is impacted.

We look closely at housing trends in the market that we witness throughout the year and try to gauge their importance in the coming year. We have seen that buyers expect that home must be move-in ready; the days of building sweat equity are almost non-existent. Sellers need to make sure their homes are clean, move-in ready, and devoid of issues that need fixing after closing.

In general, the 2019 housing inventory increased, prices went down, and there were plenty of buyers, although they were not acting quickly.

Looking at the data over the past year, we seem to be right back where we started the previous year. Days on the market are similar, pricing is about the same, and the absorption of our inventory remains steady. We had a spike in May, but we also had an increase in stock. Overall we had a very stable year, and we are expecting the same in 2020.

As we slowly make our way into 2020, Randy is most looking forward to the new greenhouse he built in the summer of 2019 and planting some exotic peppers (ghost), amongst other vegetables. Heidi continues to family and friends, hikes throughout Sonoma County, and long bike rides.

2019 was our first year in the new office on McKinley Street in downtown Sebastopol. Our location is very vibrant, and we feel more a part of the Sebastopol community. Clients and friends stop by while shopping at the nearby stores, and our door is always open. We are looking forward to helping you with all your real estate needs in 2020.

In All Honesty

Sonoma County Landscape — ID 77318403 © Josep Miquel Ubalde Baulo | Dreamstime.com

Randy and I talk a lot about how blessed we are to live in Sonoma County. We are. No doubt. It is a comforting feeling to go through times of crisis alongside your community and come out of it with even more hope in your heart.

Fire season exists in Sonoma County. It is an unpleasant reality, but it doesn’t deter us from digging in our heals, even more, to stay and appreciate where we live and work. There is an intense feeling of pride, love, and deep respect, for our communities, the people, the landscape, mother nature, and the unwavering spirit to endure tough times and celebrate the successes.

Sonoma County enjoys an ideal climate. The winters are mild, and the summers are sunny and dry. There are no limitations when it comes to being outside and enjoying the community. Walkthrough your local neighborhood with your pets, shop in the town square or hike through numerous, local, natural areas practically year-around. With easy access to the mountains, forests, and coastal locals, Sonoma County is a paradise, no matter your idea of utopia.

When asked about living in Sonoma County after the 2017 fires, we are honest. We discuss some of the possible hazards that can occur here. There will be earthquakes, wildfires, drought, and floods. But part of what makes Sonoma County so incredibly unique is not only its vast physical beauty but the people’s ability to adjust, adapt, and overcome. Sonoma County residents understand what challenges may come their way, but we prepare as best we can to weather the event and treat each other with kindness, respect, and patience.

Letterpress type wood block thankful greatful helpful blessed religious message inspiration thank you positive help concept. — ID 115691282 © David Burke | Dreamstime.com

We remain appreciative of living in such a beautiful part of the world and grateful to the fantastic group of people we share it with.

Sebastopol Real Estate At A Glance

Our new office in the heart of downtown Sebastopol gives us a unique perspective on the overall activity in our thriving town. We watch the consistent pedestrian traffic of shoppers, workers, and tourists, coming in and out of various places of business; children playing on the plaza square, and bicyclists riding along our newly dedicated bike lane. There is a gentle hum of activity throughout the day that is pleasant to witness and be a part of. Our real estate market mimics this buzz of activity.

The Sebastopol real estate market has always been competitive and seems to hover around a slight Seller advantage. The current market is no different. While the Market Action Index shows some strengthening in the last few weeks. Even though average prices have settled into a bit of a plateau, we anticipate things to start increasing shortly due to being in a Seller’s market. When the advantage is to the seller, however slight, prices are likely to resume their climb. Current trends show the median list price for a Sebastopol home is $960,000 with a price per square foot of $529.

By measuring the rate of sales versus the inventory we can see there is a slight Seller’s advantage. With the Market Action Index (real estate supply and demand) at 34, it is showing an increase over last week of 32, indicating an increase in market activity.

There are a variety of homes, land, and business opportunities on the market right now. Currently, Heidi and I have listed an amazing wine country property on Harrison Grade Road in Sebastopol. Situated on a quintessential Sebastopol road of gentle curves and picturesque landscapes of vineyards, apple orchards, and homes, this listing does not disappoint.

We have a number of exciting listings in Sebastopol. Cotati, Healdsburg, Petaluma, Willow Creek, and Camp Meeker as well. From a fabulous retreat style home, an equestrian property, a 400+ acre property, to a commercial development opportunity and a legal/permitted cannabis grow site, there is never a shortage of unique and inspiring real estate in Sonoma County.

It is exciting to see the growth in our community from year to year. We can always count on this market to keep things lively. We welcome all your questions about the market. We also offer a no strings attached, free estimate on any property’s value. It is always interesting to see where your property might fall in our diverse and growing market. Give us a call or email us directly by clicking here.

Uniting Family Homes in 2019

Family Compound 3D rendering — Family Compound Vision ID 115428455 © | Dreamstime.com

Did you ever notice that trends have their way of circling back? One such trend is a family compound. Defined as a group of buildings in an enclosed area, having a shared or associated purpose, such as the houses of an extended family, a family compound is a trend more families are bringing back into popularity for a variety of practical reasons.

Property Listing: 3500 Sweetwater Springs Road, Healdsburg, California 95448 — 3500 Sweetwater Springs Road, Healdsburg, California 95448

Land in California is scarce, especially property in which to build new homes on. Purchasing a piece of land suitable for multiple dwellings such as our Sweetwater Springs listing in Healdsburg resolves this issue. Breathtaking views sweep through this 480± acre parcel with spectacular panoramic view options for future building sites. Gently rolling ridge top features open sunny meadows, natural springs and incredible views of the Russian River Valley, Mt St Helena and beyond. The perfect canvas awaits to create your dream estate or family compound with vineyard potential. Russian River and Sonoma Coast AVA. Includes two separate parcels with 5 certificate of compliance. This property is currently offered at $2,995,000. Give us a call to show you around and discuss the possibilities.

Finding affordable housing is tough in California all across the state. Sonoma County is no different. The lack of space to build new homes, the recent devastating fires, and an already tight housing market have all made it even more challenging to solve one of humans’ most fundamental needs, a place to live. Creating a family compound makes sense in solving this dilemma. Building a more significant purchase together as a family and developing individual housing on the property for each member becomes a lot more affordable and helps equalize the burden of cost to each individual.

Property Listing: 6484 Bodega Avenue, Petaluma, California 94952 — 6484 Bodega Avenue, Petaluma, California 94952

Finding the right property to create your ideal family compound can have it’s challenges too. If 480± acres is too big for you, we also have an incredible property that is ideally suited for a compound and holds multiple dwellings onsite already. Our Bodega Avenue listing is a tranquil and private 80± acres located in desirable West Petaluma. This flag lot would make a great family compound boasting main house, guest house, and caretakers’ quarters. An ideal property for raising crops with vineyard potential. Suitable for horses includes 3 large barns, outbuildings and spring fed pond. Close to wine country, fine dining, and coast. Currently offered at $2,999,999. This property is a unique spot, give us a call to walk through it and learn more about the multiple opportunities it offers.

Multiple Generations in a family — ID 108767364 © Seijiroooooooooo | Dreamstime.com

The idea of a family compound is not a new one. In the 1900s and earlier it was commonplace to have multiple generations of families living on the same property and sometimes under one roof. The benefits vary. When the kids are small, grandparents are nearby to help; when the grandparents are too old to be alone, they have family nearby to care for them. Sharing expenses and helping each other out. Another possible advantage is the closeness the family feels by living so close together and supporting one another through the challenges and successes we all experience in life.

Contact us today if you are interested in walking through either of the above listings. Both properties offer multiple possibilities for a family compound, potential income, and a harmonious lifestyle.

Real Estate Unpacked: 7 Reasons to Own a Home

Real Estate can be an overwhelming topic. There is a lot of information and misinformation that can be confusing. One of our favorite resources for condensed and accurate real estate information is Realtor Magazine. We recently rediscovered some articles illustrating various topics. As a result, we are posting them in a series we are calling Real Estate Unpacked.

We will cover a multitude of topics including but not limited to:

Top Reasons to Own a Home
Top Reasons to Work with a Realtor
House Hunting
Preparing to Purchase a Home
Tracking your Budget
Improving your Credit Score
Choosing a Lender
Creative Financing

7 Reasons to Own A Home

1. Tax benefits.
The U.S. Tax Code lets you deduct the interest you pay on your mortgage, your property taxes, and some of the costs involved in buying a home.

2. Appreciation.
Historically, real estate has had a long-term, stable growth in value. While home prices have appreciated nationally at an average annual rate between 3 and 5 percent, depending on the index used for the calculation, home value appreciation in different metro areas can appreciate at markedly different rates than the national average. Here in California, the average annual rate of increase is 4% and according to some experts and projected to rise on up to almost 7%.

3. Equity.
Money paid for rent is money that you’ll never see again, but mortgage payments let you build equity ownership interest in your home.

4. Savings.
Building equity in your home is a ready-made savings plan. And when you sell, you can generally take up to $250,000 ($500,000 for a married couple) as gain without owing any federal income tax. The only stipulation here is you must have lived in the home for two years out of the last five years.

5. Predictability.
Unlike rent, your fixed-rate mortgage payments don’t rise over the years so your housing costs may actually decline as you own the home longer. However, keep in mind that property taxes and insurance costs will likely increase.

6. Freedom.
The home is yours. You can decorate any way you want and choose the types of upgrades and new amenities that appeal to your lifestyle.

7. Stability.
Remaining in one neighborhood for several years allows you and your family time to build long-lasting relationships within the community. It also offers children the benefit of educational and social continuity.

Heidi and I are here to answer any questions you may have, just give us a call!