Why Is It So Hard To Buy A Home?

The home you've been looking for...

A home comes on the market.  The home is nice, it's updated, it's in your price range and it's just what you've been looking for.  You contact your real estate agent, make an offer over the asking price based on a recommendation from your agent.  You are excited and can't wait to close on your new home.

Your agent calls you and apologizes saying your offer was not accepted.  You later find out there were over 18 offers on the home and the accepted offer was $60K over asking on a $500K home.  You had offered $10K over.  Really - $60K over on a $500K home?  What gives?

A year and a half ago there was a glut of bank owned homes, short sales and ready available homes.  Now, in Sonoma County and especially in areas like Sebastopol, finding a home and having an offer accepted is a  challenge.  For a real estate agent working with buyers - it's no fun.

Several things have changed over the last year that have contributed to the current difficulty in being able to find a home and then having your offer accepted.  The first is that a lot of the bank owned and short sale homes have been snapped up.  There are still some, but it's not like it was a year ago.  Second is that the overall prices of existing homes is on the rise. A homeowner that purchased a home for $600K and saw their value drop to $350K, now finds their home has increased in value to $400K.  Instead of walking away from an underwater home, it may now be worth it for them to sit tight and wait for the market value of their home to increase.  Third - there are just not many new homes being built.  The need for housing increases but the available inventory is less.

My advise - look for the location you want but think about a home that needs some updating.  If the home seems structurally sound but is out of date - your chances of having an offer accepted are higher.  The home will be less expensive and updating a kitchen and 2 bathrooms can still keep you under what you might have paid in a bidding war for a fully updated home.

Don't give up - interest rates are at an all time low and it's worth the effort to take advantage of lower home prices and the incredibly low interest rates.

Thanksgiving On The Mendocino Coast

Wow - look at this.  Another post and it hasn't even been a week.  It must be a new trend!

Thanksgiving week we drove from Sebastopol to the Mendocino Coast to spend the holiday with my oldest daughter and her family which includes our first granddaughter - now 16 months old.

If you've never taken the drive up the coast to Mendocino - it's well worth the trip.  We usually go by way of Highway 101 to Cloverdale and then Highway 128 to the coast.  The drive from Santa Rosa is about 2 1/2 hours to Mendocino.  You can add an additional 45 minutes from the Golden Gate Bridge.  If you are really adventurous and have the time, you can take Highway 1. The road is windy but the coastal scenery is spectacular.  Also for the "outdoor" types - you can actually hike the California Coastal Trail from San Diego most of the way to and past Fort Bragg.

Breggo Winery just north of Boonville

There are numerous wineries on Highway 128 through the Anderson Valley.  Mendocino County wines are right up there in quality with Sonoma and Napa County wines.

128 meets Highway 1 at Navarro River

Mendocino - taken from the Mac House B&B

Most of the
coastal Northern California towns have their history in the lumber industry.  Each of the towns on Highway 1 either were logging or fishing villages.  Fort Bragg at one time had the second largest Redwood mill in the world.  Mendocino had a large mill many years ago but now the town is primarily an artist community.

I grew up in Fort Bragg which is 8 miles north of Mendocino and I don't remember ever seeing the mill but my mother worked in the office for the lumber company when she first moved out from Nebraska.

There's plenty to do and see on the Mendocino Coast.  Great places to stay, great restaurants with a variety of price ranges for every budget.  The link following link will bring up a pdf of a map with winery names and locations   http://www.mendowine.com/files/maps_directions.pdf.

Mid November In Wine Country

It's been almost a year and this is my second post.  Not exactly a commitment to consistency.  I will try to be a little more reliable in the coming year.

This is Thanksgiving week.  The elections are over.  It's time to get back to everyday life - whatever that means.

The weather in wine country today is rainy but even in the rain I love it here.  Here it is mid November and this weekend it's supposed to be in the 70s.  What's not to love? 

Lynmar Estate - tasting room Sebastopol

Keller Estate - Petaluma California

For those of you that live outside of the area - California wine country, at least for most of us that live in the area, consist of Sonoma, Napa, Mendocino and to a lesser extent, Lake County.

Vineyards and wineries and winery tasting rooms are as varied as the as the topography will allow.  I don't drink - so I guess I have missed out on the major portion and product of what these counties provide.  But I do accompany friends and family as we travel to the various wineries and tasting rooms showing off what the county has to offer.  I usually volunteer to be the designated driver and that's fine with me.  As my travel companions enjoy the tastings, I get to continually take in how the area has transformed over the years and mostly for the better.

There are over 500 wineries in Sonoma County alone - so there is no running out of places to visit.  If you get out this way - give me a call and I will either take you around to some of my favorite spots or at least point you in the right direction.