Kirsten's Sonoma Real Estate Blog

Was Sonoma Valley Bank's death a murder in disguise?  Some folks are saying it didn't have to happen and that state and federal regulators should have given SVB more time.   The bank was seized by government officials on Friday August 20th becoming the tenth bank in California shut down this year.   It reopened the next day under new ownership as a branch of the Marin County-based WestAmerica Bank.

Under-capitalization and bad real estate loans for out-of-area development are the reasons officials give for their move.  Here's a link to an article in the Sonoma Index Tribune on efforts made to save SVB before it died.

As SIT Editor/Publisher Bill Lynch points out and other articles have reported the demise of our local bank has shocked and shaken many folks here.  SVB stockholders whose shares are now worthless and local businesses seeking financing will likely suffer the most financially.  Existing deposits are protected by the FDIC.   But what of the long term ramifications of our loss of our small town bank?  The friendly and familiar support for our local economy is no more.  Did government officials have to bring it down?

Our banking choices in Sonoma Valley now include the giants that many folks love to hate:  BofA, Wells Fargo, USB, Citibank.  Options also include regional financial institutions but there's fear that what happened to SVB might also happen to some of them.   And underlying this fear remains the question---was Sonoma Valley Bank unecessarily put down .... when it was said to be on the road to recovery?

Sonoma Valley and Sonoma County Home Sales for July 2010

Well the numbers aren't pretty but beauty is always in the eye of the beholder, right?  As a real estate sales person I'd like to see healthier numbers on numbers of properties sold but I can also see a  bright side in some of the improved sales prices.  July was pretty slow-going for for sales of  "wine country" homes.  Here's a snap-shot of Sonoma County real estate sales for July.  The chart is courtesy of the folks at The Sonoma County Real Estate Report.

For the full report click here.  If you're interested in talking about the Sonoma Valley or Sonoma County Real Estate market please get in touch.  You can email, call, or text me.  My contact info is below.   I look forward to hearing from you.

Sonoma Neighborhoods - It's Country Living on Norrbom Road

Norrbom Road is named for a pioneering Sonoma family.  Norrbom Road takes you from the Sonoma Valley floor and Sonoma Plaza up into the rugged Mayacamas Range east of town.  The road, which is about 3 miles long, was hand dug by members of the hard-working  Norrbom family.    The Norrboms, of good Swedish descent, put down roots in Sonoma Valley around 1850 and homesteaded some 360 acres in the hills above the town of Sonoma.  Norrbom Road is still just one lane wide...with turnouts for passing vehicles.  The family still owns some of the land but over the years portions were sold off and homes were built by other property owners, including one I've recently listed:   16720 Norrbom Road.

It's not easy to find homes for sale in the hills above Sonoma.  They don't turn over that often.  So if you want more infomation on my great Sonoma listing at 16720 Norrbom Road shoot me an email, text, or call.  I'd love to show you around,  By the way, 35 years ago Bobby Norrbom used to work on my grandpa's car at his garage in Glen Ellen.  Bobby's still fixing vehicles...and from what I hear...he's still doing a great job!  Sonoma neighborhoods all have interesting stories and now you know a little bit about Norrbom Road.

What Are Sonoma Real Estate Buyers Waiting For?

Sonoma real estate buyers have slim pickin's right now.  We currently have 210 active residential listings.  That's about 60% of the inventory we typically have this time of year---the "hot" spring selling season.  Of those listings, 16-17% are distressed sales.  These are properties that are either bank-owned or short sales.   Looking at the stats a different way---80-84% of properties listed are non-distressed.   Many of them are listed at the lowest prices for Sonoma real estate that we've seen in 7-8 years.

With all the headlines about bank-owned screaming deals, buyers seem to think they can scoop up real estate at bargain basement prices just about anywhere.   This is not the case everywhere and especially not so in Sonoma Valley.   Demand for properties here is always strong..even in a weak economy.  We're in the ""wine country" .  We are within an hour of San Francisco, the Pacific Ocean, and just a few hours from the Sierra Nevada Mountains with some of the best year ‘round outdoor recreation in North America.  Our market is small and about 80% of purchases are made by residents from the greater Bay Area.

Here's some more inside info for Sonoma Real estate buyers:  properties don't turn over very quickly here.  This is an area where folks buy for the long term and that often means the properties pass from generation to generation.  There's a lot of equity in Sonoma Valley real estate.  Families have deep roots here, including mine.  My grandparents bought their property in Glen Ellen 1943.  It remains in the family today.

The vast majority of Sonoma property owners don't have to sell and many won't in this market.   That means inventory will remain limited.  So the message to buyers is this:  if you are looking for Sonoma real estate today, and you see something that strikes your fancy, make an offer now.    Sonoma real estate prices and values will rise again.   I think it will happen sooner than many anticipate.  So what are Sonoma real estate buyers waiting for?  I'd love to know.

Sonoma Mountain Ranch for Sale - 3200 Sonoma Mountain Road

It's not often that there's a Sonoma Mountain ranch for sale and rarely anything as heavenly as 3200 Sonoma Mountain Road.  This mostly pristine 128+/-acre property sits at an elevation of 2300 feet.  It is surrounded by much bigger parcels including Jack London State Parkto the west and nearly 300 acres of open space, known by old timers as the Stevenson Ranch, purchased by Sonoma County in December of 2008.

I actually had the tremedous honor of representing the county in the acquisition of the Stevenson Ranch.  There was great personal satisfaction for me in preserving this property for the enjoyment of future generations.  My mother and uncle rose their horses on the Stevenson place when they were kids in the late 1940's.

3200 Sonoma Mountain Road is the parcel just to the south of the top of Sonoma Mountain.  The natural beauty almost overwhelms the senses; the views take your breath away.  The property has a 1988 contemporary home on it built in the Bauhaus style.  There's a 5+/-acre award-winning vineyard, a lake, and acres of open meadows and indigenous forest land.  So much more can be said to describe this place but I'll let the the pictures tell the story instead.

3200 Sonoma Mountain Road is listed for $3,495,000.  Please call, text, or email me for more information.  It would be my pleasure to arrange a private showing of this heavenly spot on Sonoma Mountain...just for you. 

Sonoma Home with Pool - Open House Sunday April 25th from 1-4 in Mission Highlands. 

Looking for a Sonoma home with a pool?  Come check 1696 Ridge Road at my open house Sunday April 25th from 1-4 in Mission Highlands.   Where's Mission Highlands?  It's a great neighborhood in the hills above Sonoma Plaza which I wrote about in another recent post.

There's always a lot going on in Sonoma and this weekend the weather is superb.  It's supposed to be in the upper 70's. Nice weather to get you in the mood for a Sonoma home with a pool.  So come on up to the open house Sunday April 25th in Mission Highlands from 1-4 PM.

Of course, there are other homes with pools in Sonoma.  And, yes, I know where they are so if you're looking...look me up and I'll show you around. 

Sonoma Farmer's Market - Fresh and Fun

 Sonoma Neighborhoods - Scenic and Serene Mission Highlands

Sonoma's Mission Highlands, with views overlooking Sonoma Valley,  is my favorite kind of "exclusive" neighborhood because the only thing that makes it exclusive, really, is the limited number of properties located here.  There's no more room for development under current zoning so there's little likelihood that Mission Highlands will ever grow.  It's an ecclectic Sonoma neighborhood of about 70 homes---modest cottages, contemporary houses, and elegant villas.  Residents include long-time Sonoma families, recent arrivals, and second home owners.  I love this area, perched above the valley, because it feels so far away from everything and it's just minutes from Sonoma plaza.  I've sold five homes in Mission Highlands over the past decade.  Parcel sizes in Mission Highlands vary from under half an acre to over ten acres.  All the homes have distinctively unique settings and charming qualities of their own.  A mutual water system, supplied by several wells, provides ample water to everyone.

My latest Mission Highlands listing, priced at $895,000, and located at 1696 Ridge Road, is a mid-century ranch-style home on about one-third of an acre.   It's in a secluded setting and has a pool.  With four bedrooms and three full baths, a game room, and a separate guest suite, it's a perfect weekend getaway.  It could also be a wonderful year 'round Sonoma home with plenty of room for visitors.

It's a challenge to find properties for sale in certain Sonoma neighborhoods and this is especially true in Mission Highlands.  Not only is there limited inventory but turnover is rare.  1696 Ridge Road has been owned by the same family for over 30 years and it's been a source of many cherished memories.

Property values in Mission Highlands range from about $800,000 into the multi-millions.  If you want more information about this Sonoma neighborhood...or a tour of Mission Highlands...give a shout.  I'm always looking for an opportunity to head up there for a "drive-about"... and a little peace-of-mind.

Sonoma's Neighborhoods - The Rural Side of East Side Sonoma.

Because I sell real estate in Sonoma Valley, people often ask what I love most about where I live.  That's a tough call for me but at the top of my list are our east side Sonoma neighborhoods.   In Sonoma, where living is "laid back" and easy-going, there are some lovely residential developments where homes share similar characteristics.  And we do have a fair number of gated communities with architectural standards and CC&R's intended to instill residential development uniformity.  But I think a big part of Sonoma's charm and it's broad appeal is the ecclectic nature of the homes we have here.  We have grand mansions and stunning architectural masterpieces and elegant wine country estates.  And we have plenty of ...more modest homes here, too....reflecting the diversity of our community.

These two east side Sonoma properties are directly across the street from one another on Castle Road.

And these two properties are minutes apart if you drive down 7th Street on Sonoma's east side.

And not far from them you'll find this old east side Sonoma farm on MacArthur Street.

Sonoma's east side has homes to suit just about anyone's personal taste.  It can take time to find just the right property for sale on the east side of Sonoma.  I worked for four years with one family before they found "it."  So if you are interested in living on Sonoma's east side, my advice is to start looking right now.  Of course you can contact me for help...anytime.  

Sonoma's Neighborhoods - Eye-Popping East Side Armstrong Estates

The majority of homes that are found on the east side of Sonoma are relatively modest if you compare them to the grand mansions in Armstrong Estates.  Armstrong Estates is an east side Sonoma development just blocks from Sonoma's historic 8-acre central plaza.  Developer Steve Ledson teamed up with HGTV in 2009 to promote his construction work in a televised and much advertised "Dream Home Give-Away."

There are about two dozen homes in Sonoma's east side Armstrong Estates and the architectural styles are predominantly Craftsman and Victorian.  When you drive through this Sonoma east side neighborhood you'll see that each home has a unique appearance.  Each has been custom built to the specifications of the individual homeowner.  The original Armstrong home (below) was built in 1870 and Steve Ledson lives there today.

Ledson moved in  1986 and it took ten years for him to get through city planning before he began building the first home of the 26 properties he has built so far in this Sonoma east side development.  There are just as many vacant parcels to be built out in the years to come.  These pictures represent just a sample of the homes in Armstrong Estates.

If you want information on homes in Armstrong Estates on Sonoma's east side you can check out the Ledson Development website by clicking on this link.  And if you are like most folks (including me) who are simply interested in seeing extraordinary homes in Sonoma...give me a shout and I'll drive you by.