Prices are good right now and it is a sellers market due to many more buyers then available inventory. As inventory continues to rise, mainly because of the time of year (spring and summer being stronger sales months), there will be more inventory to satisfy the buyers needs. Prices are not predicted to fall much but level out and the crazy over bidding with multiple bidders at the lower priced properties may diminish. Please feel free to contact to me and we can talk about what your needs are. I have lived and worked in Sonoma County for 30 years and would love to help you find your next home here.
I look forward to talking with you,
I hope you have been able to get the answers you needed to help you make an informed decision. Should you need any further information, please feel free to contact me.
W Real Estate
If you are looking at a 1.5mm range you will have more to choose from. There are some terrific smaller neighborhoods such as Wild Oak and others that I can say most assuredly that you will not experience a 20% drop in values. The question is what are your needs and are you thinking rural residential or more within the city limits of Santa Rosa?
The absolute numbers of real estate sales have declined but the number of listings has not soared nor have the prices declined as steeply. The general refrain from agents working the west county market for country property, as I do, is that there is not ENOUGH inventory at the moment. I have a lot of info on my blog, including the link below.
The bigger question is how long do you intend to be in the home? How much down payment? Are you qualified/pre-appoved, etc. all need to be answered.
I think everyone knows it is a buyer's market right now, and you can negotiate your price speculating on a further decrease in values. Although I do not anticipate a 20% further decrease, buyer's are coming in lower on prices and getting some good deals on their new homes. Sonoma County is seeing the same thing due to their huge increase in values over the past few years. Make an offer based on what you see, and see the house more than once for second impressions. All they can say is "no", and often times will make a Counter Offer. My most important advice is this: treat this as a business investment transaction. And if you fall in love with a house that you just can't live without; make your best offer first attaching a letter to the seller's stating your love for the home, that this is your very best offer and the reason for your offer. I find that this is powerful and enlightens the seller's to your limitations (and not your desire to take advantage).
Best of luck!
Whether you buy now or later, a close house and price watching strategy will keep your finger on the pulse of the market . You will be able to sense when properties start to move faster and prices stabilize and even begin to rise. Many people in our office sense that we are near the bottom of the market, but others are less sure.
I did a quick check and there are three properties in the Sebastopol area over $1,000,000 that seem to be decent opportunities. There are many, many more in Santa Rosa.
I put a link to a Sebastopol map search page that you can adjust for the price you are looking for. If you keep track of the individual homes as they come on the market, you will know when to buy.