There is a common misconception that the beginning of the year is not a good time to buy or sell property. Right now, there is not much inventory on the market, which is a shame because there are plenty of buyers looking to make purchases right away. The flip side of putting your home on the market in January or February is that the lack of competition creates demand. A perfect example of this is the recent sale of a duplex in El Verano which received 19 offers. Granted, it was a great opportunity for rental income, but it flew off the market.
Another benefit is that during the slower months, most agents are not as busy so you get far more focused attention as a client. You can also possibly get a higher price for your home, as statistics show that homes sell at somewhat higher prices during the winter months. This can be attributed to a number of factors, such as a pool of more motivated buyers, fears about rising interest rates (which typically go up in the spring) and selling agents who want to price the properties as accurately as possible for quicker sales.
This week, there were seven properties on tour in Sonoma. Here’s a look at my favorite:
851 Towne was the nicest house on tour. Priced at just over a million at $1,050,000, it is turnkey with hardwood floors and a nice kitchen in a fantastic neighborhood. It is a desirable single level and though it is not a huge house at 1816 square feet, it has four bedrooms and two full baths and is perfect for a family. As an Eastside property, it is part of the desirable Prestwood school district, but beyond that, this neighborhood rules for Halloween trick or treating, tons of kids to play with and an adjacent playground.
All photos courtesy of NorCal MLS. Listed by Joyce Davison, Sotheby’s