Bargain Buyers On The Look Out

Huge price cuts in Petaluma's burgeoning homes for sale market are attracting out-of-towners from all over the Bay Area and beyond, as affordable elegance in home ownership becomes quite the bargain hunt.

Mortgage rates have fallen to the lowest level in weeks, in attractive terms for 30 year loans. Despite the growing number of homes on the market and the sluggish sales of the past year, Petaluma is seeing a dramatic increase in budget opportunities for first time buyers, investors and local families looking to upgrade without breaking the bank.

"Apartment rents are continuing to climb," says Timo Rivetti, Broker Associate for RE/MAX Marina Realty. "Sonoma County is being closely scrutinized by real estate research companies as the go-to county for the very best deals around in distress sales, short sales, foreclosures and regular market listings."

"Sales are up across the board in Petaluma," says Timo. "Our local economy is in better shape than most others in the Bay Area and we have good reason to firmly believe that our real estate market offers the best deal to buyers in this region."

With home & condo prices in Petaluma at a five-year low the inventory for properties under $450,000 has boomed. "It was almost impossible for people within this price-range to get a look in prior to the conditions of this current market," says Timo. "Depreciation, although not good for the seller, has opened multiple doors for the first time buyer and investor."

New home construction has declined dramatically over the past few months, with very little in the pipeline for the maxed-out city limits of Petaluma. "There is such a thing as supply and demand," says Timo. "And the fact that we haven't seen extraordinary growth in sprawling housing development here, unlike other areas in the state, will undoubtedly prevent home prices plummeting too much further."

With a bargain out there for every budget, call Timo at 707 769 4272 to find your Petaluma property deal.