Sonoma Short Sales and REOs Dominate Open Escrows The number of Sonoma homes for sale has increased by about 20 percent since April.  Spring inventory is light compared to past years.   The shortage of listings is due to two factors.  First, a signficant number of would-be sellers owe more on their mortgages than their properties are worth due to depressed property values so they can't or won't sell.   The other major reason is Sonoma home owners tend to have substantial equity...and if they don't have to sell in this market and take a big hit on their proceeds...they aren't doing it. There are currently 261 active listings in Sonoma Valley.  Just over 20-percent of those are short sales or foreclosures. If you look at a comparison of non-distressed vs. distressed listings under contrac... 05/20/2011

Curious About Jobs In Sonoma ? On the heels of a report that unemployment has dropped in Sonoma County I thought some people might be interested in seeing just what our local work force looks like.  We recently received a report from the Sonoma County Economic Development Board containing employment data specific to the local economy of Sonoma.   This Sonoma jobs chart was provided by the Sonoma County EDB. Anything jump out at you? As a Sonoma real estate agent, my eyes went right to the number of folks practicing real estate, providing financing, or selling insurance.  There are a lot of Sonoma real estate agents---over 500 licensees at last count, according to my office manager.  "Only" 100 are "actively" working these days.  In our tiny market that's quite a few. Services provide th... 05/20/2011

~ Nice Prices on May 19, 2011 Sonoma Broker Tour ~ Prices on Sonoma real estate have dropped so much that there's a sense of deja vu on broker tour these days.  One of my favorite listings on broker tour this week is a short sale listed at $825,000.  It sold in 2007 for $895,000---before the pool was put in. Another sweet listing that showed up on tour is this property with two houses on a 1+/- acre lot on a quiet country road not far from Sonoma.  There is a 2bedroom/2bath 1200+/- square foot main house with lovely wideplank hardwood floors in the kitchen and a 1 bedroom cottage tucked away behind a small hobby vineyard.  It's priced at $795,000. I also looked at a 17+/-acre listing in Sonoma Valley's eastern hills, the Mayacamas.  This 2100+/- square foot house has 3 bedrooms and 2 ba... 05/19/2011

No Permit For Construction on Your Sonoma Home? No Problem, For Now.... If you or someone you know has done work on a Sonoma County home without permits...when permits were required...there's still time to right the wrong-doing with no punishment.    It's fairly common to find homes in Sonoma County with unpermitted improvements including re-plumbed kitchens, remodeled bathrooms, converted garages, even small additions.  Last August, county officials approved a six month amnesty program.  In February, it was extended for a second six month period so that the program now runs through the end of July.  The Sonoma County Permit and Resource Management Department (PRMD) recently sent out the reminder below urging violators to come forward and....come clean. The permit violation amnesty prog... 05/17/2011

Want Dirt...in Sonoma County? Clients I've been working with lately ... a number of them ... have been in the market for parcels of land.  Their requirements vary.  One couple wants to build a home in a rural setting, not far from restaurants and other amenities, preferably above any nearby homes, high up on a hilltop.   Another buyer is looking for at least 20 acres on the western slope Sonoma Mountain at an elevation that affords them dramatic and sweeping views.  And yet another is looking for a hundred acres or more overlooking the Pacific Ocean. All of these folks are on a steep learning curve about Sonoma land values. There are currently 334 land listings in Sonoma County that are zoned for single family or residential use.  The asking prices range from $15,000 to $26.5 Million.  ... 05/15/2011

Sonoma Mentoring Alliance Birthday Celebration Fifteen years ago, a Sonoma woman named Kathy Witkowicki started a mentoring program to help children in Sonoma Valley.  On May 24th, the Mentoring Alliance is hosting it's annual mentor/mentee end of the school year picnic.  The event is also a celebration of the alliance's fifteenth anniversary. I've been a mentor with this organization.  It was one of the most rewarding volunteer experiences I've had.  My mentee and I were paired up while she was in elementary school.  We continued to meet through junior high and into her freshman and sophmore years at the local public high school.  Most times we'd just get together for an hour and talk.  Sometimes I'd help with her homework.  Once in a while I'd attend school assemblies for awards cerem... 05/13/2011

~ Got Game?  Sonoma Home with Tennis Court ~ Got Game is an expression video gamers use but it works when describing a listing that was held open this week on the Sonoma Broker Tour.   This ten acre place on Highway 12 approaching Sonoma has indoor tennis, an indoor pool, a Victorian style home, six acres of vineyard (under contract) and space for lots of cars.  The zoning is diverse ag which means a winery might be possible here, Sonoma County permitting.  The property is listed at $2,250,000 and it is truly a unique place. A Glen Ellen vacation home with a pool was also on tour today.   Priced at $699,000, it's beautifully landscaped and updated, and would make a wonderful weekender or a sweet full time retreat for somebody who enjoys solitude. There was also a nice $479,000 Sonoma to... 05/12/2011

~ New Listings in Sonoma ~ Broker Tour May 12 There are 20 properties on the Sonoma Valley broker tour this week.  I wish I could see them all but there just isn't enough time.  In our market, we hold broker open houses from 9am through 11am.  Sometimes, when lunch is served, the hours are extended until noon or 1pm.   So, I pick and chose the new Sonoma listings that I plan to see.    My first-time buyers might be interested in a cottage in Kenwood listed for $280,000 so Ill drive up valley to see that.  There are also two homes they might like on the west side of Sonoma priced in the mid-to-upper $400,000 range.  I've got several buyers looking for second homes and vacation getaways in Sonoma.  There are five very nice new listings I'm previewing for them. A few high end, $1Million-pl... 05/11/2011

  ~ Buying a Home? Try the 80% Rule ~ Most of us envision the "Perfect Property" when we think about buying a home.  It's smart to to visualize what you're looking for and even smarter to write it all down.    Knowing what you need and want and sharing that information with your Realtor will save you both a lot of time and energy. The 80% Rule will also save you time and it's a simple way to analyze prospective properties in a systematic way. When I'm working with Buyers, especially first-timers, I suggest evaluating every property this way.   I tell them if they find a home that has 80% of what they need they should look at it more closely...to sort through what works for them and what does not. It's likely many of these issues can be fixed with paint, a new floor covering, landscaping... 05/10/2011

As of May 6, 2011 32% of available listings in the beautiful wine country town of Sonoma are in escrow. For the month of April 2011 31 homes (8 of which were distress sales) sold in Sonoma for an average final selling price of $581,758. The average original asking price of these homes was $632,497. The range of final selling prices was from a low of $110,000 to a high of $2,200,00. Of the 31 homes that sold 5 sold at their original asking prices and 4 sold over their original asking prices.  The remaining 22 homes sold for less than their original asking prices. It took these homes an average of 90 days to sell. To see everything that is currently available for sale through our MLS click here. To see some of the many fun things to do around in our neck of the woods click here. To learn ... 05/09/2011

~ Sonoma Sales Stats Are Misleading ~ "How's the real estate market in Sonoma Valley?"  It's a question that I'm asked at least a few times every week.  It's not an easy question to answer.  Recent data shows fewer total residential sales...and a decline in the average price of homes sold in Sonoma.   Simply put,  the numbers are misleading.   The data, from our Bay Area Real Estate Information Service (BAREIS) MLS does accurately reflect market activity but just one sale in April 2010 skewed the numbers so that the averages were out of whack.    The BAREIS chart for April 2010 looks like this: APRIL 2010 If you pull up the statistics for April 2011 and compare year-to-year---Yipes!---the chart shows a decline in both units sold AND the average price. APRIL 2011 So, Sonoma residential s... 05/09/2011

So today was a lovely day. For those who don't know - I've been away from home for a few weeks. I've been visiting my my Grandma in San Francisco. Yesterday my mom and step dad arrived here to join us. I'm headed back to Vancouver on Monday. It's been a great trip - a lovely 3 weeks spent with my 95 year old Grandma! Today we all packed in the car and headed out on a road trip - to Sonoma, California!! For those who've never been - it's a lovely little town filled with charming houses, sweet shops, lovely cafes, and of course delicious wines. We walked, we talked, we ate cheese in the park - and of course, our visit wouldn't have been complete without a lovely trip to a vineyard by the name of Sabastiani Vineyards. (AWESOME PINOT NOIR!!) My two favorite parts of the trip (besides hangin... 05/07/2011

A Better Year for Wine Country Real Estate Sales? "2011 may be a better year than we expected in 2010,"  That's the word from Pacific Union Branch Manager Jill Silvas, who heads up our office in Sonoma Valley.  Jill analyzes quarterly MLS data for Wine Country real estate sales, with a focus on the upper end, properties selling at $1Million and up.  She says stabilizing prices, low interest rates, and a feeling that "the worst is behind us" are factors for optimism.  In Sonoma Valley, Q1 high end real estate sales lagged behind sales in Napa but Jill expects things to pick up, as you see in this excerpt from her recent report---  Jill's First Quarter Charts track volume and pricing in Sonoma Valley.     Jill's optimism seems to be on target.  Checking MLS for $1Million+ properties now u... 05/06/2011

~ $1.5 Million Average Price For New Sonoma Listings ~ Thursday morning traffic in laid-back Slow-noma can get a little hairy.  Cars full of real estate agents are racing around town, across the valley floor, and through the hills making their weekly dash to visit the listings on broker tour.   This time of year is especially crazy.  Spring brings a plethora of new offerings from sellers hoping to capitalize on this season of peak buyer demand.  This week there are 16 homes on tour.  That's a lot of real estate to see in three or four hours when the addresses range from Carneros in the southern end of the valley all the way north to Kenwood. Eight of the listings are priced under $1Million but there are few new "entry-level" homes this week.  There's a condo for $195,000 and three other... 05/04/2011

~ Worm Tea and Other New Things at the Sonoma Farmer's Market ~  The Tuesday Night Sonoma Farmer's Market on Sonoma Plaza opened this week under new management....and with a slew of new vendors.  In recent years there's been a lot of controversy over how the market was run and how vendors were selected.  The new market features a broader sampling of vendors selling organic fruit, vegetables, cheese, baked goods, ethnic food, flowers, arts and crafts, as well as products and entertainment intended to cater to Sonoma Valley's growing Hispanic community. There are more green products, including worm tea, an alternative to traditional garden fertilizers.  Worm Endings Unlimited sells the amber liquid along with kits for establishing do-it-yourself worm farms.  Bags of castings are available... 05/04/2011

~ Glen Ellen Country Home Offers A Lifestyle from Down Under ~ For years on the way to Santa Rosa I've driven by this intriguing Glen Ellen country property.  It's location, at a big curve on Warm Springs Road, has made it tough to get a good look.  It's also screened from view, like some exotic hide-away, by several huge old oak trees. I previewed it this week because an agent in my office is bringing it to market soon.   It's unlike any home I've ever seen. Unless you've spent time in Queensland, Australia I doubt you've seen anything like it either.  Queensland architecture is distinctively designed for warm Australian climates where heavy rains are known to fall.  Corrugated metal roofs,  wood, and stone are the predominant building materials.  Wrap-around porches and enclosed veran... 05/03/2011

~Why You Need a Country Property Expert To Buy or Sell Sonoma Country Property~ When you know a fantastic real estate agent---someone you've worked with and trust---you want that agent to represent you in your future real estate business dealings, too.   Generally, this is a perfect partnership for both the client and the agent.  That is, unless the agent lacks important knowledge and experience when it comes to the many facets of Sonoma country property. Case in point:  One of my listings was purchased about ten years ago by a lovely couple who knew nothing about septic systems.  In Sonoma County, septic systems dictate what you can and cannot do with your country property.  The county has "re-utilization" policies that limit the amount of remodeling you can do and dictate whether you ... 04/30/2011

What's Selling in Sonoma?  Distressed Sonoma Homes Sales Year-to-Date. The San Francisco Bay area real estate market is made up of many micro-markets.  Historically, according to title company data,  80% of Sonoma Valley real estate buyers come here from the greater Bay Area.   So what have they been buying so far in 2011? Taking a look at sales of Sonoma Valley residential properties from January 1, 2011 through April 30, 2001, our local MLS shows that nearly 50% of closed escrows thus far this year have involved distressed Sonoma homes.  Drilling down a bit into these categories for averages you can see how the list prices and sale prices stack up.  Below is a snapshot of average statistics for Short Sales in Sonoma. And here's how the averages look for year-to-date sales of Bank-Owne... 04/30/2011

Sonoma Homes for Sale ~ 25% Are Distressed Sales. There are 220 homes for sale in Sonoma Valley this Easter Weekend.  Listing inventory has grown just a bit but overall it's still light for this time of year, traditionally the hottest selling season for real estate in Sonoma Valley.  The number of distressed homes for sale in Sonoma, at about 24% of the total market,  has remained basically the same as I reported last month in another post on residential listings in Sonoma Valley.   Broken down into housing categories, the data points, show that as a percentage of each category condos rank highest in distressed properties. Sonoma Homes for Sale April 24, 2011 One additional data point:  There is just one property over $1 Million dollars that is listed as a distressed property.  If you w... 04/24/2011

Sonoma Real Estate Prices Down/Up\Down~~~What?  This inconsistent movement sums up the latest monthly news on residential real estate sales in Sonoma County.  I subscribe to the Sonoma County Real Estate Report which analyzes data specific to Sonoma County real estate sales.   Here's the thumbnail chart for March real estate sales in Sonona County...courtesy of REReport.com. Breaking it out,  price drops were mostly in the Sonoma County "entry-level" market (under $500K) where they fell 12.0% year-over-year.  In the "luxury" market ($1 Million and up) prices were down 9.2% for same period.   However...there was a 4.4% price gain in the "move-up" market ($500K to $1,000,000.) City by city the data is varies quite a bit. My friends at REReport.com also provide this chart showing a breakdo... 04/16/2011