Realtor.com came out with their 20 Hottest real estate markets in the nation. 11 of these are in California and we’ve added two NEW spots–Eureka and Fresno. Eureka is way up north on the coast of California. Isolated, older fishing community but it is very affordable as is Fresno which is in the “Valley”. “Valley” properties in the greatest state of California are fairly depressed and still have higher percentages of distressed homes. They have yet to get even close to their pre-bust highs. If you look at the top lists you’ll see 4 of these hottest market are in the California interior valleys—Sacramento, Stockton (at one time ground zero for the distressed market in California), Modesto and Fresno. What they all have in common is affordability. Median priced homes in these areas range from $270,000 to $317,000. Compare these prices with Santa Rosa (#13 on the list with a median price of $597,500).
We are delighted to have back on our show , Marilyn Barnes of Senior Helpers. This Sunday, February 21st.
|About Marilyn Barnes / Senior Helpers North Bay: Non medical in home care. Providing full service with flexible hours to give our clients and families peace of mind. We specialize in Dementia care. We do specialized companions for weddings, graduations & travel.|
1200 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!
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.
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.
Real Estate Hour favorite, Otto Kobler, of Summit Funding will be joining us this Sunday.
In this hot and heavy real estate market, cash buyers often beat out financed buyers in a multiple offer situation.
Learn Otto’s strategy that helps buyers with financing rise above the cash offers and present a winning offer.
Plus; There are big changes coming to the lending process, and looming interest rate hikes. Otto will fill us in on all of this and more.
Join Mike Kelly and Allison Norman for new and information about Real Estate in Sonoma County, Ca, and around the country, every Sunday on The Real Estate Hour 9-10AM, 1350AM, 103.5FM and streaming live at www.KSRO.com
We are pleased to have show favorite, “That Lender Guy”, Peter Phillippe of Princeton Capital. Pete will be discussing the latest and BEST Interest rates, VA/FHA, lending requirements plus YOUR CALLS! Join us for what will surely be a “don’t miss” hour. Pete can be reached at: 707-481-2737 Cell 1-888-305-2473 eFax or firstname.lastname@example.org
Here in Sonoma County, California the real estate market is dealing with Homes attracting Multiple Offers from Buyers. Here are Buyer techniques you might wish to try to standout from the other offers.
My last column addressed recommendations and a method of dealing with multiple offers from the homeowner’s perspective. Many of the buyers we are currently assisting asked, “Hey, what about us?” The big difference between the Seller and Buyer is the SELLER will reach their goals in quick order. Buyers, however, may be making an offer on their 5th property and getting a trifle disgusted with the process. Let us explore those strategies and tips we use with Buyers.
In my last column we discussed HOW to deal with multiple-offers are happening across the price spectrum but more importantly in the “hot” price points associated with various areas in the county. Any of the “entry-level” price points are STILL facing tight inventory with big demand. Many Realtors are advising Sellers to place the property on the market, have a general “Open House”, a “Broker’s Open House” and then set a date in the near future to “review all offers”. This is usually done 7 to 10 days AFTER a property hits the market. The question is how a BUYER submits an offer which will not only secure the HOME but stand-out and appeal to the Seller. Continue reading Buyer Top Tips on Dealing with Multiple-Offer Competition
The link below will take you to a Fannie Mae history of 30 year fixed rate loans. The reason I’m bringing HISTORY into the argument of lower interest rates is to show Buyers and Sellers why NOT to “wait it out”. These folks mistakenly think they will see 3.5% again. It is wise to understand the dynamics OF interest rate fluctuations and to study past rate increases. For instance, In April of 1971 the interest rate was 7.31%–(42 YEARS AGO!) it would NOT fall under that rate again until July of 1993 when it hit 7.21%! Oh, and during that time frame it hit a high of 18.45% in October of 1981!
The first 11 years of my real estate career we had double digit interest rates with that big high I mentioned above. We STILL sold homes. Sure they were lower but so were wages and salaries. Fast forward to today and we see rates soaring from April to today by one full percentage point or what they say in banking as 100 “basis” points. And this is WITH the Fed taking a long term support measure for keeping interest rates “low”. What bothers me is the consumer balking at rates exceeding 5% as if THIS is a high rate! Continue reading Why WAITING for 3.5% is FOLLY and Financially Naive.
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
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.