Every six months the Sonoma County Economic Development Board releases the results of it's survey of local business leaders. This winter, confidence is at a six year high--nearly making it all the way back from the very low confidence expressed (not surprisingly) in the winter of 2008. The confidence appears to be strongest in the technology sector, and that probably mirrors the strong tech economy throughout the San Francisco Bay Area. Sonoma County and Bay Area business confidence are outpacing the rest of the US. And guess what, so is our real estate market! Another marker of business optimism is the...Continue Reading!
We set out to learn about chocolate in Sonoma County this month in honor of Valentine's Day, Chocolate style. There are a number of specialty candy and chocolate shops here, from Sonoma to Cotati, Petaluma to Healdsburg. We found two that were willing to offer friends and clients a special Valentine's Day discount! For a coupon or special discount code, email me for details and I will be happy to share! Did you know that Sonoma County has it's own manufacturer and online purveyor of fair trade, organic and even Vegan chocolates? I did not until...Continue Reading!
Each month I pull the Home Sale Statistics for Sonoma County. Each report has a dozen or so graphs and charts showing various aspects of our local real estate market. As I review them, I try to think of the one slide that says it all for that month. This month, it is the above chart showing the number of listings available throughout our county. Normally I show median price, months of inventory or active vs sold listings, but this month I thought I would cut right to the chase. We need more listings! Listings are typically low in January...Continue Reading!
I am still daydreaming about the gorgeous West (Sonoma) County estate property I saw yesterday. I knew I had to share it with you. Not only does the home sit on 29 +- stunning classic Occidental acres off Frati Lane, but it features one of the most thoughtfully designed contemporary country homes I have every seen. In addition, there are two adjoining buildable/probably also plantable lots surrounding this parcel. You could have a total of 66 +- acres to enjoy now and hold for investment value or as an idyllic family compound. Occidental can be problematic when it comes to...Continue Reading!
This morning I received the newly released Sonoma County Economic Development Board study of the Sonoma County economy, prepared by Moody's Analytics, a national economic research firm. Technology, led by the many medical device manufacturers in Sonoma County, wine and tourism (the wine country part) are strengthening and are expected to lead Sonoma County to grow faster than the state and national averages in the second part of 2013. These are all encouraging signs for a real estate market that continues to strengthen, and where values are at long last rising. Now all we need are more homes listed...Continue Reading!
Five Years Later A Shift of the Tides in Sonoma County Real Estate In case you are wondering why I have a video of the San Francisco Bay Model embedded here--it is a throwback nod to my first blog post in 2007, when I used the Bay Model as an analogy to explain Sonoma County's relationship to the Bay Area Real Estate Market. Well, just as our market seems to have a fresh start--so does the Bay Model--which completed a two year refurbishment earlier this year--you can take a look above! As I said in that earlier post, the...Continue Reading!
Sonoma County Home Sales Report through August 2012 The latest Sonoma County home sales figures through August 2012 show more of the same--increased rate of sales, a higher median price due to the addition of more expensive sales and more non-distressed (equity sales) in to the mix as well as significantly fewer listings than a year ago. The result? Homes that sold in over a hundred days a year ago are now selling in 54 days! Given that more homes also went in to contract in August than any month in the preceding THREE YEARS (!), it seems likely that the...Continue Reading!
Yesterday I wrote about a conversation I had with clients about their experience finding the right country home for them. They pointed out that many country property buyers who might not be aware that they have many towns in Sonoma County that they can consider for their wine country homes, not just the most famous ones. Here is a little closer look at some nice Sonoma County communities that haven't received all the hype (yet.) Santa Rosa As the 4th largest city in Northern California, Santa Rosa is more than a town but it also contains some of the most gorgeous countryside,...Continue Reading!
I had dinner recently with clients who bought a country property in northeast Santa Rosa's Mark West area about five years ago. I love visiting their home as it feels like a mini-vacation! The pool is on a hillside overlooking dramatic wooded ridges. You cannot see another home from the extensive decks around the house, even though the lot is only 2.5 acres. For Jeff and Brian who spend nearly every weekend at the property, it is a welcome and necessary respite from challenging careers in San Francisco. Monday through Thursday they live in Noe Valley, but Fridays after work...Continue Reading!
Home sales in July picked up speed compared to June and newly pending sales accelerated at an even faster rate, while inventory continues to decline and properties are selling in 62 days versus over 100 days a year ago. No new trends here, just continuation of the patterns we have been seeing all year. When inventory declines as sales increase, that means prices will rise. Bank owned inventory is declining but so is so-called "regular" inventory. There are fewer than two months of inventory available at the current sales pace, a strong seller's market. That doesn't mean sellers can...Continue Reading!
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