Linda McNeill, Real Estate Pro in Santa Rosa, CA

How are property taxes holding in Santa Rosa, are they up or down lately? It seems that prices have come down lately on property.

Asked by Linda McNeill, Santa Rosa, CA Sat May 28, 2011

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HI Linda,
We've seen values hold steady for about a year now. Asking prices have been coming down but sale prices have been flat across all price points. I have some great charts to illustrate this - just let me know and I can send it to you. Or if you can go to my website for Santa Rosa homes for sale http://www.realestateinsonomawinecountry.com/

There are charts showing "listing price".
1 vote Thank Flag Link Sat May 28, 2011
Hi Linda- you ask a very good question. We have certainly seen price reductions over the last 3-5 years but the statistics suggest that the market is no longer decling and the activity is strong. Houses that are priced with the market are seeing offers in less than 30 days which is an important factor in assessing the strength of the market. We have buyers that are preapproved actively looking and buying homes. In speaking with several appraisers in the last month they say that the market is stable and slightly improving in some price ranges. I have no doubt the historically low interest rates are a huge factor in bringing the buyers into the market and helping in the activity.
Web Reference: http://www.karenfleming.com
0 votes Thank Flag Link Sat May 28, 2011
Thank you Linda,
Understand that Real Estate is pretty unique: A particular home can only be sold once, and unless you are talking about a Subdivision, no two houses are alike; especially when you add in features, contingencies and personalities.
Today's group of SOLDS is a totaly different group than we had last year.
So, when we talk about the MARKET, we mean a pool of transactions that is large enough to produce a viable mean and median.
So, if you stand back at look at the whole Market, you may see that the average house is 1.5% lower than it was last year; but what does that tell you?
If you are a Buyer or Seller right now, you are dealing in ONE house; yours. And that house was not part of the pool last month or last year. And that house is the only one you really care about.
If you are a Seller, you will want to prepare and present that house is the best possible light so that it will sell quickly and for the max.
If you are a Buyer, you want a particular house to meet your wants and needs. If it does; the price becomes secondary. If you live there for five years; you will only see the long-term increase in the value.
Realize that there has never been a long term period in Real Estate where values went down.
There will not be a nadir for every house on the market. It will be a nadir for the mean and the median, and you will be able to see that point until a year or two from now.
As I have said, there will be no bell ringer, walking around, announcing the bottom of the market, there will be no headline in the newspaper.
If you want to buy a house now; take advantage of the fantastic interest rates we have now, and start enjoying the fruits of home ownership.
0 votes Thank Flag Link Sat May 28, 2011
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