Not often that dream addresses come on the market along Petaluma's historic, tree-lined D Street, home to the riverfront city's most quintessentially classic heritage homes.
But here it is, the gorgeous, graceful, picture-book Victorian home of many a dream, complete with separate carriage house as fully-equipped second unit or splendid home office.
815 D Street, Petaluma quietly boasts a beautiful English garden, enchanting veranda, classic window seat, fireplace, fine lines of original woodwork and a refreshingly simple decor. Check it out on-line today for a virtual tour.
Currently in its ninth year, HOUSE HUNTERS is a half hour documentary style television program that tracks the emotional journey of homebuyers as a real estate agent such as Timo helps them search for a home and make a purchase. The show also features the homeowners after they move in, enjoying their new place.
Fancy your chances on film? Call Timo today at 707 769 4272!
Not just one of the superb Sweepstakes Winners in this week's largest and most prestigious regional wine competition in the US, the Sonoma County Harvest Fair, hails from Petaluma Gap Grape Alliance's own - a second clear-cut superstar southern So-Co wine has emerged amidst the ranks of the regions brightest and best vintages.
Pictured above right, with Petaluma Gap board members Timo and Jeff (by what must surely be the region's tiniest hobby winery) are the group's newest members Tamara and Doug Cover, growers and winemakers of what will soon to be the most sought after, not-for-sale, limited edition artisan wine in the county.
For Doug and Tamara scooped the premier award in the amateur wine making world here in Sonoma County, for Sweepstakes Winner of BEST RED WINE for their 2005 West Petaluma cool climate Heartstone Syrah, grown and produced on their country property off King Road.
Having never met a winemaker I didn't like, I know that Timo and Jeff agree that the Covers couldn't be more gracious regarding their smash hit at this year's Harvest Fair.
Looking forward to getting to know Doug and Tamara better over a bottle of two of our farmstead syrahs, but first we both have late-season harvests to get through and judging from our Brix counts, we're all scheduled for the same day this October.
If you are a wine lover, don't even think about missing out on the Harvest Fair up at the fairgrounds in Santa Rosa this weekend, what with the World Championship Grape Stomp, food by wine country's outstanding chefs and all sorts of Fall season, fun family activities including a barnyard scramble, scarecrow building contest, cooking competitions and of for extra measure of harvest madness and merrymaking, a pumpkin tossing tournament!
And the good news is.....thirty year fixed mortgage rates are available in the enticing 5.75% range right now, despite today's grim day on Wall Street. As the country's financial institutions reel from the worst daily losses in seven years, real estate bargain hunters are onto the deals of a decade.
"Home values are listed at 25% to 50% below market value at this present moment here in Sonoma County," says resident realtor, Timo. "Now's the time to take the bull by the horns and go for it. If you have the financial resources necessary for a stellar loan, the home of your dreams could be yours for a fraction of the price in recent years."
"Although loans are relatively hard to come by given the current uncertainties in the global economy, I have access to several solid financial institutions with which to negotiate a good home loan," says Timo, who is affiliated with Santa Rosa-based Simpac Financial Mortgage Brokers.
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.
Every cloud has a silver lining. Not least the current drop in housing values here in Sonoma County. For more than 19,000 homeowners throughout the county will be seeing a significant drop in their annual property tax bill this year.
Reflecting the declining home values of those who predominantly bought their home at the peak in the past few years, county appraisers have been busy reviewing values and making the relevant assessments on homes bought between January 2004 and September 2007.
According to regional news and real estate reports, Petaluma, Rohnert Park, Windsor and Southeast Santa Rosa have been worst hit with declining values during that time period.
Additional homeowners may receive property tax reductions next year, if the current conditions prevail, creating "a significant impact on county budgeting," says Timo Rivetti, of RE/MAX Marina Realty, Petaluma. "This is another indicator that home prices in the Petaluma area represent a great deal for new buyers and for those who wish to upgrade, with annual property tax levels not as imposing as they have been in the past."
A Senate vote of 83-9 gave the green light to the next step towards issuing $300 billion in Federal Housing Association-backed loans for around 400,0000 distressed borrowers.
Delays are anticipated until mid-July, however, as President Bush threatens a veto and Democrats duke it out amongst themselves on the finer details.
With consumer confidence said to be at its lowest in 16 years, home values are still on the decline in many areas of the country.
California's senators, Boxer and Feinstein both voted in favor of the housing rescue bill, and as housing sales have started to pick up here in Sonoma County, many more foreclosures could be on the cards unless qualifying home owners can obtain these new, cheaper home loans.
After an hour of impressive displays of muscular dexterity, cherry picking party-goers quashed a laborer's thirst with wines and artisan cheeses, as Mr B and his hostess-with-the-mostest Michelle put on a splendid outdoor feast of spit-roasted, garlic and herb infused lamb and summer salad greens with shaved Parmesan.
Had to duck out prior to al fresco movie screening and the sharing of a fancy fresh fruit trifle (yours truly knows the way to Mr B's ex-pat hosting heart). Topped with crumbled Cadbury's Flake on a bed of whipped cream, custard, strawberries, raspberries and sherry-soaked lady fingers, the Trifle was a late-night hit according to highly reliable source who stumbled in with even more bagged cherries just before yesterday turned into today!
Looking at the haul we've brought home on the countertop this morning, I've made a mental calculation of at least two pies, a giant cobbler and ....wait for it .... a mason jar of cherries in brandy for dramatic ladling gestures over other-wise typically stodgy Christmas-time desserts. A tablespoon of brandied cherries and juice would work wonders on a simple choccie loaf cake with lashings of whipped cream, mascapone maybe....
Here's a nifty way to sun-cook cherry preserves for that Christmas treat:
Brandied Bing Cherries - Recipe by Scribbles Daily!
1quart of ripe bing cherries
1/2 cup of sugar
1/2 cup brandy
1 quart canning jar
Wash
& core cherries and chop off stems to 1/2 inch long. Pack into
canning mason jar until full to the brim. Add sugar and brandy. Close
the jar with a new rubber seal. Shake lightly. Stand in sunny position
outside for one whole, summer month! Store in a cool, dark place
through Fall and early winter. Perfect for the holidays! You'll be glad
you took the time.
Fantastic news for real estate investors is that industry lobbyists have successfully axed an attempt by sneaky tax reformers to drastically restrict the legal nature of real estate exchanges.
The obnoxious 1031 amendment which was snuck rather unceremoniously into the hidden depths of the present Farm Bill would, if approved, have made it illegal to benefit from tax shelters in exchanging real estate without the transaction involving the same types of "like-kind" property.
That means that if you, as a cornfield real estate owner, had a notion to sell your land in rural Sonoma County and purchase a condo in a neighboring city, you would have been restricted by law from the benefits of long-standing tax exchange.
Unless your apartment house in Santa Rosa was swiftly exchanged for apartments in, say, Petaluma, you'd have been all out of the flexibility which has traditionally encouraged investors to keep the market alive and afloat.
Far fewer exchanges would have followed the passing of this seemingly tiny technical amendment within the Farm Bill. One thing that would have increased for certain, however, would have been the volume of IRS audits.
So, that said, go ahead and sell your town home for a coffee shop or your rental cottage for a commercial office. It's the perfect time to deal.
Residential and commercial real estate development has been on hold for the past two years, as the council struggled to solve critical deciding factors, such as water shortages, roads, public safety, utilities and greenhouse gas emissions from traffic back-up.
Although developers have been chomping at the bit to push plans through the planning department (with some serious losses of investment having incurred across the city due to the lengthy moratorium), it seems fitting that final approval for the next, most significant boom in Petaluma's 150 year history, has come to pass in this Sesquicentennial year.
Petaluma's 56,000 population is anticipated to grow to 72,000 by the year 2025 and the general plan has had to look closely at how and where at with what impact these additional community members are going to cohabit our city and country neighborhoods.
Some 6,000 new homes are expected to be built over the next two decades, with some 13 city parks developed or expanded during that time. With the city council as cash-strapped as it is, developers are facing building fees of almost double the amounts imposed prior to the new city plan being put in place.
Retail and commercial projects are expected to face similar cost increases starting this August to help cover the need for additional police officers, fire stations and adequate roads.
Hopefully now we will see some action on the postponed saleability of the Sunset Line and Twine Building at Jefferson and Lakeville. An ambitious project to convert the historic property into upscale condos was shelved due to the council's crippling moratorium, but developers are now hopeful that a new direction for the restoration of the landmark building will be one of the first major projects Petalumans will appreciate.
Heard it on the grapevine that the Sunset Line and Twine Building may be considered for conversion as an upscale West side hotel to serve growing demand for rooms and conference, event space in this area. Wouldn't that be great?
