This week there were a variety of
properties on caravan for all to see. I travelled from St. Helena to
Oakville, back to St. Helena, then to Angwin and then to Calistoga and
back to St. Helena. A few of the memorable properties were;
– Oakville-Beautifully restored old farmhouse with detached unit on one acre with vineyard views-$2,895,000
– Angwin-Good home on 40 acres with great views. 10 acres plantable,
Howell Mtn Appelation, and a 55 gpm well for $2,495,000. Will have to be
some room in that price.
– St. Helena-A clean 3 bedroom 2 bath condo, walking distance to town for $525,000.
September figures show a big dropoff in the the number of sales in both St. Helena and Calistoga. This is to be expected with fall approaching and the past months of booming sales.
The good news is there are a number of good homes available in St. Helena and Calistoga for under a million dollars and a real opportunity for the prudent buyer.
To make you transaction as effective as possible keep in mind that youâ€™ll need to have a pre-qualification letter from a lender, identify where your down payment is coming from and do your homework on property values.
St. Helena-Number of sales and total sales dollars were up
for May as was expected.Â Also, the
average sales price was up which is an indicator that property values are on
the rise and not just the number of sales.Â
We are on track to blow through the fourth quarter of 2012, which was a
banner period after the great recession.
Calistoga-The number of sales were up for May but the
average sales price was down some.Â That was
probably due to the mix of properties that were sold rather than a decrease in
value.Â I expect values to continue to
rise and make for a good investment.
In the last three weeks buyers have come out of the woodwork and there have been multiple offers on properties in St. Helena and Calistoga.Â Maybe it's euphoria over the stock market gaining back all it losses during the Great Recession, or a general lack of inventory in the area, or buyers finally coming out of hibernation.Â For whatever reason it will be a trend to be watched.Â February sales do not represent any major changes but given 30 to 60 days to close a transaction we may see some significant figures for March and April.Â A very good time to list a property.
Property values in the Napa Valley.Â What are they and who cares?Â Hopefully, I can answer these questions and give you some insight along the way.Â I am going to limit my evaluation to the upper part of the valley, specifically St. Helena and Calistoga.
The first question "What are they"?Â The number of sales for St. Helena for 2011 were up 10% while dollars sales were up 20%.Â This was skewed by a few December sales that were out of this world.Â I don't think it is a trend but something to watch.Â On the other hand Calistoga sales for 2011 were down about 8.5% and total sales down 35%.Â Whatever the numbers are it is still a "Buyer's Market".
The second question "Why you should care"?Â The answer is simple.Â It provides for a tremendous opportunity to get value.Â In the past a buyer was always paying a premium to buy into the Napa Valley.Â Now there is opportunity to buy a home, investment property, vineyard, winery at a value we haven't seen in years.
Let me know what you think.