“They” say you will never see the bottom of any particular real estate market until you have missed it. Interestingly enough, we are sitting at the bottom of a very deep rut in Sonoma County’s real estate graph. Yet people are still buying here. I believe this is a unique situation because Sonoma County is, and will continue to be a desirable place to live.
In other words we have an extended opportunity to purchase Sonoma County real estate affordably. What does this mean to you? Depends on who you are; first time home buyer, investor or maybe you have outgrown your home and are moving up?
Here are four important tips when looking;
- Location is still, and will always be, king. If you want resale value, you have got to find the best Location. The home defect we are seeing the most right now is the lousy location, maybe on a busy street or near the freeway. If you don’t care about resale value and just want to get your foot in the door, these homes are very affordable but consider that this “defect” will most likely never be cured.
- Strength; the stronger you look on paper are the better your chances. You can still buy a home on a shoestring budget but you need to look strong. Get preapproved by a lender, keep copies of all of your financial papers together in case the seller requires a second approval (this in not unusual when buying a foreclosure).
- Act fast; educate your self to the market with a Realtor (perferably Ron Welsh) and then be ready to act! The good ones go fast.
- Don’t get discouraged; you may miss out on a few, this is part of the education. Stay with it, you are going to make an excellent investment on a great home in one of the most beautiful places on earth.
So check out your opportunities and come live here in Sonoma County! Contact us for help with all your real estate needs.
Seven Generations of Buying and Selling Sonoma County Properties!
