Tag Archives: Real Estate Agents

Open House THIS Sunday, February 21st 1 to 4pm ! 1200 Halyard Drive, Santa Rosa,Ca 95401 Traditional Beauty.

VWN_3885-f VWN_3914-f VWN_3964-f VWN_3929-f VWN_3899-f VWN_3896-f  This stunning traditional home is back on the market and OPEN this Sunday–All reports NOW on file! 4 bedrooms and 3 FULL baths the home has 3 bedrooms upstairs and one bedroom down wit adjacent full bath and exterior door–perfect “Multi-generational” living or for guests who savor their privacy. Kitchen new flooring in a rich brown with matching entry statement. Home is over 2100 sqft and has enormous living room with adjoining Dining area big enough for your Grandma’s sideboard, hutch and dining table and chairs. A big sectional would be swallowed up in the living room. Kitchen has newer appliances, flooring and is adjoins the family room with fireplace. Breakfast bar serves your hurried mornings or quick lunches. Yard has gate for ez acess  and patio for al fresco dining. Priced to sell at: $560,000. Join Allison THIS Sunday, February 21st from 1 to 4pm.

New Listing in NW Santa Rosa–Stately home seeking lovers of space!

VWN_3879-f1200 Halyard Drive, Santa Rosa: $560,000–Traditional home beckoning to new owners seeking 4 bedrooms and 3 full baths in a quiet NorthWest Santa Rosa neighborhood. Oversize lot with big side yard. Inside, new flooring in Entry Way and Kitchen. Living room will swallow up your big sectional and adjoining “formal” dining area will take a big dining room table, hutch and sideboard. See the virutal tour by clicking RIGHT HERE!

VWN_3885-f VWN_3896-f VWN_3899-f VWN_3914-f VWN_3907-f VWN_3929-f VWN_3938-f VWN_3943-f VWN_3964-f VWN_3969-f VWN_3973-f VWN_3978-f VWN_3957-f

 

“Where’s the Beef?” Sales are flat, Inventory Short.

“Where’s the Beef?” Sales are flat, Inventory Short.

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  Sonoma County selling and buying season here in the lovely “Wine Country” just an hour north of the “Gate” is flat with sales down 2% over last year but the bigger issue–Inventory! Usually March will signal the beginning of the “Selling” season by more homes coming onto the marketplace. March was a GOOD month but instead of being the beginning of an inventory surge–it was the end. March was our best month and inventory has been declining since. WHAT are the reasons? Below is a slide from the California Association of Realtors. I’ve added on the last three.

Reasons for LACK of Home Inventory  I think the “Off Market” or “pocket listings” is an issue but I’ve NOT seen any hard numbers on it. I’m waiting for CAR or perhaps Core-Logic, to come out with a study showing MLS sales vs. recorded sales. I know in our super tight inventory market, Realtors/Agents are always asking to see new listings not yet on the market. We hear of sales being made off MLS all the time. I keep waiting for the law suit which will define this isssue to apppear. Sellers and their Realtor/Agents who state, “They got their price.” really have no idea at how much that “price” could have been! The current disclosures by CAR, reflect this very issue which came out of the ’89 market scarcity.

Continue reading “Where’s the Beef?” Sales are flat, Inventory Short.

Sonoma County Home Affordability….How Much Home Can You Afford…now, versus 2006

June 2 , 2013; Santa Rosa, Ca.

The change in the Sonoma County Real Estate Market was upwards of 60% in some areas of the county, from the height of the market in 2006, to the bottom in 2009.  But, in some Sonoma County cities homes have managed to hold their value amazingly well.  On today’s show we’ll tell you which areas, and why…..

And, We’ll talk about how much home you can afford now…

Tune in to The Real Estate Hour for this, and more local real estate news, every Sunday morning from 9-10am on 1350AM KSRO or streaming live at www.KSRO.com

 

 

 

 

The Forgotton Entrance – Is your Front Door Welcoming?

Sunday, May 26, 2013 – Sonoma County, Ca.

Creating a welcoming front entrance can add to your home’s curb appeal, desirability and value.  Your front door is the first impression your visitors (and potential buyers) get of your home. Make sure it’s a good one.

Your front entrance should be;

Welcoming; Your guest begin developing an opinion of your home as soon as they pull up to the curb.

Obvious ; Don’t make guests wonder which entrance they should approach

Light; Not just the front door, but also the path leading them there.

Safe; High fences and tall bushes can become a hiding place behind which to lurk. Make sure your guests feel safe at your front door.

Start at the curb. look at your entrance.  Walk the path your guests will use several times and think about the experience.  Is it Welcoming, Obvious, light and Safe? If not, make some changes.

 

This Week’s Show; Wildfires are Coming…Is Your Home Ready?

5/26/2013 Sonoma County, Ca. on The Real Estate Hour, 1350 am KSRO

Fire Prevention Battalion Chief, Ben Nicholls, joins us on the radio to discuss the steps homeowners in High Fire Areas (State Responsibility Areas, SRAs) should be taking to protect their homes from Wild Fire.

Did you know that, if you live in an SRA, you are required to clear a “Defensible Space around your home? Chief Nicholls will tell us what that means. Here’s a link to help you determine if you are in an SRA,    http://www.firepreventionfee.org/sraviewer.php

Also, great tips for everyone on fire safety in your home.

Join us at 9:15 for this informative and very important topic.

For more information visit; http://fire.ca.gov/

 

 

 

 

Tale of two Price Points–Lack of Homes for Sale? Depends WHAT you’re SPENDING here in Sonoma County,Ca

Here in Sonoma County, California–Many Realtors are lamenting the LACK of inventory or homes for sale. I submit that it all depends on how MUCH money you wish to spend.  One of the most IN DEMAND price points is the 0- $250,000 price point. This has been the land of the REO (real estate owned) or bank foreclosed home. I fear this price point has “left the station” or is quickly disappearing. This price point is a natural for bank foreclosed homes AND Short-Sales. However, we only have 60 “Active” Short-Sales currently on the market. Take a look at the slide below and note we are DOWN -47% over last year at this time.  The question–is THIS the new reality of a surging market? We leave the lower price behind? Or is the market for this price point just stripping the shelves of all homes?  What’s going to happen to make this a stronger price point? MORE Short-Sales and REO’s. I can’t see a big wave of REO’s coming but Short-Sales can fill the need. We shall see if the consumer REALIZES they can SELL their homes short and get out from under a tough financial mess.

Now look at the NEXT slide–What a difference huh? Almost a 180 swing. The $1,000,000 price point is flush with listings having 40% MORE listings over last year at this time.  In between these two extremes we find a market still “starved” for inventory. The  next “range” of $250-$500,000 is down about -5% over last year but the next price point or the “mid-range” ($500-$750,000) which is gaining momentum is down about 21%.  The $750K to 1 Mil is +5%.  Knowing HOW the market inventory is before making an offer can determine WHAT you’ll offer and HOW you present your terms to the seller. KNOW your NUMBERS.   Feel free to call myself or Allison to give you analysis of YOUR price point.  707-799-3617.

At the end of it’s first year, the Sonoma County Vacation Rental Ordinance has us wondering “what’s this ordinance REALLY all about?”

Russian River Area Realtor and Vacation Rental Ordinance expert, Kyla Brook — and long time Sonoma County Permit Consultant extraordinaire, Tom Havstad return, Sunday 2/12/2012, to fill us in on some strange goings on at the Permit Resources Management Department (PRMD)….hmmm, imagine that.

Do you own a vacation rental in Sonoma County? Have you complied with the Vacation Rental Ordinance…are you paying your TOT(transient occupancy tax)? …if so, did you also apply for a zoning permit? No? Tune in..this show is for you.

Thinking about buying a vacation rental in Sonoma County? Despite the economy, Sonoma County remains a “destination”, bringing visitors from all over the world….which is a great boon for the local economy. In the Russian River area, vacation rentals flourish…and play a vital role in the city’s economy. Kyla Brook, who has been following, and filling us in, on the Vacation Rental Ordinance from its very inception, has some great insight to offer us…and a helpful list of items the vacation rental buyer should be aware of, and should be sure to investigate as part of their due diligence.

And of course, if it has anything to do with Sonoma County permits, zoning, and/or code violation, we haven’t found anyone more knowledgeable than Tom Havstad. Tom knows the ins and outs of the PRMD, the Sonoma County Planning Department, code enforcement, tax assessor, building department…state and county codes, laws and ordinances. He’ll walk us through the requirements of the Vacation Rental ordinance, what to do and what NOT to do, and he’ll bring to light a rather disturbing possible consequence of the ordinance, leaving us to wonder ” What is this ordinance REALLY all about? “

To reach our guests;

Kyla Brooke, MS, CDPE,  Herth Real Estate
707-481-0098 cell, 707-222-6006 office, www.myhousematters.biz

————And———————-

Tom Havstad, Permit Consulting Services

phone/fax:   707-874-2078, cell:  707-695-0857

website: www.permit-help.com, email: havstad@sonic.net

————————————–

Here are some helpful links from the PRMD and the Sonoma County Tax assessor.

http://www.sonoma-county.org/prmd/docs/vacrent/vacation_rental_faq.htm

http://www.sonoma-county.org/tax/tot/faq.htm

http://www.sonoma-county.org/prmd/docs/vacrent/final_ord.pdf

http://www.sonoma-county.org/tax/tot/pdf/transient_occupancy_tax_booklet.pdf

http://www.sonoma-county.org/prmd/docs/vacrent/vac_rental_handout.pdf

http://www.sonoma-county.org/tax/tot/packet.htm

 

 

Join us this Sunday, 2/12/12 as we unravel the latest mortgage relief effort…could THIS be the real game changer??

…………………………………….

Federal Government & Attorneys General reach landmark settlement with major banks

Roughly $25 billion in relief for distressed borrowers, states and federal government.

From the “NationalMortgageSettlement.com” website.

After many months of negotiation, 49 state attorneys general and the federal government have reached agreement on a historic joint state-federal settlement with the country’s five largest loan servicers:

The settlement will provide as much as $25 billion in relief to distressed borrowers and direct payments to states and the federal government. It’s the largest multistate settlement since the Tobacco Settlement in 1998.

The agreement settles state and federal investigations finding that the country’s five largest loan servicers routinely signed foreclosure related documents outside the presence of a notary public and without really knowing whether the facts they contained were correct.  Both of these practices violate the law.  The settlement provides benefits to borrowers whose loans are owned by the settling banks as well as to many of the borrowers whose loans they service.

  • About the Settlement: Learn about the settlement, who is affected and what claims may still be pursued against the banks. Find links to your state Attorney General’s Office to find state-specific information and contacts.
  • Help for Borrowers: Learn how to find out if your loan is affected by this settlement, the timeline for relief, how you will know if you are eligible. Find links to your state Attorney General’s Office to find state-specific information and contacts.
  • News: Read the national news release and find links to your state Attorney General’s Web site for state-specific news.
  • Loans owned by Fannie Mae or Freddie Mac are not impacted by this settlement.  You may visit the following websites to learn if your loan is owned by either Fannie Mae or Freddie Mac:

Here’s what the plan will do for homeowners in specific situations;

Mortgage underwater but current with payments. More than 10 million homeowners in the U.S. owe more on their mortgages than their houses are worth. The latest plan would enable people who have been making loan payments on time to save about $3,000 a year on their mortgage by refinancing with lower-interest loans guaranteed by the Federal Housing Administration.

Mortgage underwater and behind with payments. More than $12 billion to be set aside to reduce principal for homeowners who are behind on their payments and owe more than their houses are currently worth.

Victims of foreclosure fraud. The plan will provide payments of about $2,000 a piece to approximately 750,000 families that have been the victim of improper foreclosure practices. Most commonly—routine electronic notarization of documents being transferred from one financial institution to another as part of the foreclosure process–a practice known as robo-signing.

This will most likely apply to people who lost their homes between Jan. 1, 2008, and Dec. 31, 2011.

January 2012 Sonoma County Market Update; Inventory’s down…”under contracts” up….

A month by month, year over year look at the Sonoma County, California Real Estate market. 

Sonoma County’s available home inventory is down 24% over last January…with properties ” in contract” a whopping 42% higher than last year at the same time.  January 2012 hit a 12 month high of 602 homes under contract. However, it’s important to note that about a third of those homes are Short Sales which will take on average 166 days to close. …and, some will not close.  But all in all, it’s a great indication that the combination of low prices, low interest rates, low inventory…and increased consumer confidence, have many buyers down off the proverbial fence.

This is good news for Mike and I as we are busy, busy, busy!!

Properties currently "on the market" by month

Properties entering the market down 10% over last January with a surge in April/May 2011, then a pretty steady drop throughout the remainder of the year.

62% of under contract properties are “bank influenced sales”…Short Sales, or REO (foreclosure) Unfortunately, this program does not distinguish between Short sales which take on average, 5 mos to close and sell at or slightly below market value,  and REOs that close in 30 days or less, and are typically priced low to move quickly. All bank influenced sales will affect market value to some extent, REOs much more so than Short Sales.

Properties under contract (In Escrow) with shaded "bank influenced sales" Short Sale/Foreclosure
Full market, Under contract (in escrow)

More good news…Sold properties up 17% year over year.

Sold properties by month

Still quite a gap between homes on the market and homes sold, but look at the difference between Jan 2011 and Jan 2012.

Supply and demand by month (on the market vs sold)

As we continue to make our way through the surplus of bank owned properties, most of which are in the lower end of the market(Under $350,000) , you can see where the strong market is. The median home price is exactly the same as last January at an even $300,000.  The median price means that half of the homes sold where under that price and the other half were above.  While we are seeing a good increase in activity in the mid range ($400,000-1million), sales are still sluggish. This is why the Median price for “on the market” homes is so much higher than the median “sold” price.

Median price ; "For sale" median vs "sold" median

What this market is missing is the “move-up”market. Those home buyers who, in a normal market, would be selling their “foot in the door” home and using the equity they gained to buy up. For the past 4 years, that equity “gain” is, for the most part, nonexistent.

However, with the strong medical and technology growth in Sonoma County, we’re seeing quite a bit of relocation into Sonoma County. This may be just the boost the mid-range market needs. …Stay tuned.

If you’d like any more information about the Sonoma County Real Estate market, or about your homes value, neighborhood sales data, etc. please take a minute to call or email Allison Norman at 707-799-3617, or Mike Kelly at 707-322-8503 ~ TheKellyNormanTeam@Gmail.com