Bennett Valley Stats

Here are the stats for home sales in Bennett Valley, East of Summerfield Road for the month of June 2010.  Surprisingly, 71% of home sales from January 2010 through June 2010 are "normal" sales, i.e. NOT short sales or bank owned!  Short sales consist of 16% of the market, and bank owned homes are only 11%. 

Homes are selling for 98% of the original list price, in an average of 94 days.  The average price per square foot is $257.45.    The average original list price is $704,892, with an average selling price of $688,829.

What do all of these stats mean??!  For this micro-niche market, homeowners are 1) becoming more proactive and selling their homes before they experience predictable financial woes and are NOT giving their homes back to the bank, 2) recognizing the great opportunities to purchase their "dream homes" and seizing the opportunity to move up, and 3) the banks are "holding" properties and not releasing them to the market to avoid flooding the market in order to preserve home values. 

Is this niche market a signal that we are returning to a "standard" real estate market?  The general consensus is that "normal" sales will become more common, however short sales and bank-owned properties will become a normal segment of our new market.  We will not experience the inflated market of a few years ago, we will find a happy medium that will include opportunities for all segments of the population to experience homeownership.

For additional questions, please call me!  707-490-5527 or email greenvalerie@kw.com

Environmental Homes

It would be ideal if we could all go live in the woods in tents.  As long as there is running water and heat... and no mosquitoes.  There is an alternative, however. Energy efficient and "green" housing are becoming very trendy, and many people are jumping on board.  As a new home buyer, I would love to pay $4 a month to PG&E!  One person I know doesn't have a bill at all! 

New home builders are slow to accommodate- for two reasons.  The main reason is the economy- no one is building right now.  It is difficult to get new construction loans ( although I do know a great insurance agent who will cover new construction), and two, the early adopters of this trend have already bought.

There are two main subdivisions of solar/ energy efficient new construction in the tri-valley area- Bridge Trail at the North Village in Santa Rosa and Riverview in Petaluma.  At Bridge Trail, they are currently sold out of phases 1,2, and 3 of their project, and is built by the Hugh Futrell Corporation.  However, there are still plans for a Clubhouse to include exercise facilities, a pool, and the such.  This project is surrounded by wetlands with hiking and biking trails at the north end of Santa Rosa off Fulton Road.  Additionally, these properties do occasionally come onto the market for resale and are currently selling for $350,000 and below.

Riverview in Petaluma is built by Lennar Corp. and is located off of McNear from Petaluma Blvd. South.  Lennar calls these properties "PowerSmart" and boasts features such as SunPower Smart Mount Solar electric system, dual-zone heating and air-conditioning, low E glass, insulation everywhere, and low-flow plumbing fixtures, among others.  These homes are 15% more efficient than California standards.  These homes are built into the hills above Petaluma, giving residents panoramic views.  There are also playgrounds, seasonal creeks, and open space to explore.   These properties are listed at $600,000 and up.

Lennar has also just closed a deal to buy Linnwood, a development in mid-construction owned by another local builder.  Some homes are completed and sold by the previous owner, and some are half-way constructed.  Lennar plans to finish this development, putting their Powersmart slant on the development.

For more information regarding any of these properties, please contact me at 707-490-5527 or email greenvalerie@kw.com