Comments on the Sonoma County Market

Quite a few upcoming listings were announced at today’s broker’s meeting and most of the prices seemed pretty realistic. Clean well priced properties on the high and low end are moving quickly. 7925 Juanita Ct has an accepted offer (It had several) at $379.9K, the asking price. On the market less than a week. 11571 Green Valley rd also brought the asking price of $1.299MM. It went into escrow very quickly. One open house, offers reviewed last weekend and in escrow monday. Good neighborhoods, clean houses, realistic sellers with good agents. Quick sales at market price. There are currently 94 active listings for properties in the $1-$2MM range in Sonoma County and some have been on the market a long, long time. Very few are priced correctly and many of these sellers will recieve a good deal less for these homes when they do finally sell than they would if they had been priced correctly in the beginning. And I am not considering carrying or opportunity costs. The responsibility for bad pricing falls primarily on the seller because they are the principal and the agent is just that, the agent. Not entirely, there are agents who are bad at pricing and there are agents who will tell a seller that a home will sell for more than they genuinely think it will in order to get the listing.

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About Tom Stone

I am a Broker Associate with Creative Property services (CPS) in Sebastopol Ca. My father was an Appraiser and expert witness based in Oakland Ca for many years and I grew up having the basics drilled into me. I enjoy what I do and I am good at it. I managed income property in Oakland for a number of years and was licensed to run a collection agency for more than a decade. I have also worked as a credit manager and as the senior collector at the test center of a Bank . I have been commenting for years at "Calculated Risk" and on other Real estate Blogs including the defunct "Sonoma Housing Bubble" Blog. The best job title I ever had was "Chief Garbler". My Email Address is "" and my cell # is (707) 364-2477, please don't call before 7 AM or after 8 PM unless we have a deal in progress.

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