3rd quarter “affordability” numbers for Sonoma County and the NorthBay. We are now at 25% or 1 in 4 folks can afford to buy the median home priced at $630,000. You payment will be $3,180 per month with total income needed of $127,100. And this was BEFORE the “Fire Storms”. Now throw in scarcity and things are just very, very tight! Housing Crisis
Northern California Engineering Contractors Association Hall of Fame – Inducted 2014
North Coast Builders Exchange Hall of Fame – Inducted 2002
City of Santa Rosa Board of Public Utilities, Santa Rosa, CA 1994 to Present
Board Member (Chairman – 1996 to 2013)
Sonoma Clean Power Authority 2013 to Present
“Our region has lost up to 7,000 living units, and we had a housing shortage before the fire. Also, we already had a homeless issue because of the high cost of housing in the region, and we will need temporary housing for them as well as the workforce from outside the area that will most certainly be needed to supplement the locally available construction workforce. In addition, we will need to provide housing (temporary and/or semi-permanent) for those displaced from their homes while they are rebuilding.
We also all need to recognize that this devastating fire(s) is having a damaging impact on the economy of our region. Jobs have been lost, businesses have shut down, etc., and property taxes will take a severe hit which will damage the ability of the county and our cities to function in a normal fashion. I have heard that there will be a 20% reduction in the GDP of our county in the short to intermediate term.
I am the Chairman of a group, currently entitled “Rebuild Sonoma Task Force”, which might change soon so that we can assist rebuilding in the other 3 counties also. The group is made up of builders, contractors, architects, engineers, business groups, financial institutions, and insurance brokers.
All of these groups have experience, and thus valuable input, to getting our region “back up and running” as efficiently and economically as possible.
This is not going to be an easy task by any stretch of imagination, but our group wants to encourage everyone to be patient and do this recovery correctly, more so than just quickly.”
Here’s the podcast for Otto’s show last Sunday. Great information on appraisal and lender perspectives regarding impact of the Fire Storms which hit Sonomoa/Napa counties. CLICK RIGHT HERE TO LISTEN!
Had a great discussion yesterday with County of Sonoma Clerk, Recorder, Tax Assessor and Elections Chief, Bill Rousseau. Click to hear the podcast! We had a far ranging discussion on keeping your property 13 status when rebuilding your destroyed home and repairing damage. Also, discussed: Propositions 60/90 and how you can move your low Proposition 13 tax base with you if moving. One of the emergency ordinances is found under Revenue and Taxation code 69.3. This allows larger parameters in a homes value if taking your old prop 13 tax base with you–up to 120% of the old value. Also, the number of counties allowing transfer of the old prop 13 base have been changed. Below are those counties:
Contra Costa, Modoc, San Francisco, Solano, Sutter, Los Angles, Orange, Santa Clara, Sonoma, Ventura.
Questions? You are encouraged to call: 916-272-3350 or your local County Assessor’s office.
Sonoma County clerk-recorder-assessor Bill Rousseau will join me to discuss emergency reassessments of your fire damaged property. Other “emergency” issues will also be discussed. Have a home partially damaged? What if you are one of a few homes left standing? Lower your assessment? How about your old proposition 13 tax base after rebuilding? This and more will be discussed.
David Guhin, City of Santa Rosa, CA Director of Planning and Economic Development will be on the show to discuss the State’s new requirements, and how cities are now required to make changes allowing for an easier, less restrictive process for adding an ADU (Accessory Dwelling Unit) to your property. More City of Santa Rosa info here
Tune us in at 9-10AM on KSRO 1350AM, 103.5FM and streaming live at KSRO.com. Call in numbers are 707-636-1350
Missed the Show? – Listen HERE
|David Guhin||Director of Planning and Economic Development
City of Santa Rosa
Mr. Guhin has over 17 years of experience in the public sector, most of which has been with the City of Santa Rosa’s Water Department. In July 2015 Mr. Guhin was asked to lead the former Community Development Department through a series of strategic changes. His first tasks were to tackle the organizational changes that would create the new and revitalized Planning and Economic Development Department and to engage staff in visioning, developing, and implementing a comprehensive Process Improvement Action Plan aimed at positively altering the experience of doing business with and for the City.
Mr. Guhin’s areas of reasonability includes the Planning, Engineering, Building and Economic Development functions for the City of Santa Rosa. In his time with Planning and Economic Development, Mr. Guhin has established the ongoing process improvement implementation, integrated the Engineering Development Services and Economic Development Divisions into the department, guided the development of the Housing Action Plan, and is leading the development of the City of Santa Rosa’s comprehensive policy on medical cannabis.
Mr. Guhin holds a Bachelor’s of Science degree in Engineering from the South Dakota School of Mines and Technology, and he is a Registered Professional Engineer in the State of California. Mr. Guhin’s recent community involvement includes being Past President for the Redwood Empire Food Bank, and he was the co‐chair for the Amgen Tour of California local organizing committee and has helped to bring the Ironman to Santa Rosa for the next 5 years.
David M. Guhin | Director
Planning and Economic Development
100 Santa Rosa Avenue | Santa Rosa, CA 95404
Here’s the “Tale of the Tape” for home sales, Sonoma County, California, November 2016.
Median home price is up 9% over last year at this time but this is due to the tight inventory market, buyer demand and rates on the rise. As of this writing, December 7, 2016, rates are hovering just at 4 to 4.25%. So the threat of rising rates is bringing those looking to the table. It should be noted we have only 575 “Active” listings for every town in Sonoma County–all price points. Slim pickens
While the median SOLD price is $575,000, the “On the Market” median home price is $749,00. This means of those 575 homes half are below and above that number. Sales are actualy up +2%, or pretty darn close to “Flat” year over year. The “Solds” for 2016 never broke 500 sales in any month. Last year we had two months of 500+ sales.
An indicator of things to come is the “Under Contract” numbers which are down -8% over last year. But this is also seasonal as the slowest months of the year are upon us. Inventory is as you’d expect–down. New properties entering the market -6% and total inventory down -15% year over year.
Positives? DOM or Days on the Market is down -33%! 50 days is the time and our MSI or Month’s Supply of Inventory is only 1.8 months. Put this in context: a “normal” market is 4-6 months supply, under that its a Seller’s market. We have a BIG TIME Seller’s Market!
Still, if you are a buyer keep at it! Especially if you are below the median home price of $575,000. Less competition and motivated Sellers are a good combination for you! Let us know if we can help! 707-322-8503! Mike Kelly.
66% of May real estate sales fell between $400,000 to $749,000 here in the “Wine Country” of Sonoma County, California. Many in the nation might think our prices outrageous but here in the super heated “Tech-centered” Bay Area we are considered the “bargain basement”. Our “Median” SOLD home price is $580,000. However, the “Active” or “Showable” listings tell a different story. Whereas a “median” home price indicates half the market above and half below when it comes to “Active” listings its another story altogether. We have 818 total “Active” or “Showable” listings now available county-wide. If we use $580,000 as a median home price with our “Active” inventory we see 27% of the available listings are BELOW $580,000 and 73% above. The county-wide Median “Active” list price is $815,000.
If you wish to find “Active” properties below the “Median SOLD Price” only 4 areas meet that criteria: Russian River–$449,000 with 59 showable listings. The SW area of Santa Rosa comes in at $469,000 with only 27 showable listings, followed by NW Santa Rosa, $515,000 with 46 showable listings and the Cotati/Rohnert Park with $537,000 median home price of actives but only 18 showable homes.
It really takes off from there. The top two median “Active” home prices? Sonoma at $1,297,000 with 125 showable listings and Healdsburg, $1,411,500 with 76 showable listings. Overall, of the 818 total “Active” listings 308 are OVER $1,000,000.
- Changes at the PRMD (Sonoma County Permit Department),
- Changes to the Vacation Rental Ordinance,
- And, what about those Un-permitted repairs and alterations when you go to sell your house! These topics and more will be discussed with Real Estate Hour favorite, Tom Havstad.
Tune in..have a little fun…and, learn a lot.
Tom Havstad; Long time local Sonoma County Permit Consultant and property owner advocate. Tom Brings a wealth of knowledge to the Real Estate transaction, and to homeowners just trying to sort things out.
Permit Consulting Services for Sonoma Marin and Napa – Permit Consulting Services offers professional assistance at your building department. We know the process and we will advocate for you. Our expertise comes from decades of experience in all phases of plan and permit processing.
You may need help with building or zoning permits, or you may just need to understand what permits were taken out for work done in the past. If you need plans drawn in order to pull a permit, we can do those for you also. We’ll handle the whole process, start to finish, or we’ll coach you through it. And you can believe this, it’s not getting any simpler. You’ll save time and money by getting a professional on your side.
Here are Sonoma County April Sales information. Big take-aways? Lack of inventory but increasing, Median home price up “only” 6% over last year. 1.5 Month’s Supply of Inventory (4-6 months is considered “normal”.
Average Days on the market is a remarkable 42 days. Note how this number has been dropping. Blame low inventory and big Buyer demand due to historically LOW interest rates in the upper 3% range.
Homes for sale by month is down -10% over last year–c’mon–let’s get those homes on the market!
New properties coming to the market is down slightly.
Indicator of future activity is the “Under Contract” properties down -5% over last year. Hmmmm?
Sold Properties by month is down -13%. This with historically low rates? Price wall happening?
Median Home price shows dramatic slowing of higher price activity.