MORE HOUSES ON THE MARKET IN PETALUMA THIS SPRING
The California housing market has shown its resilience this year, rebounding in January after a six month slump in the second half of 2023 when mortgage rates were at a high. According to real estate watch dogs, interest rates are expected to decline later this year, improving inventory throughout 2024.
California Association of Realtors has expressed optimism that the overall outlook for the housing market appears positive as pent-up demand translates into sales. There is an increase in active new listings in the Petaluma area. “While mortgage rate fluctuations may influence potential new buyers and sellers,” says Timo “the prospect of a softening in the economy and a downward trend in interest rates in the coming months is helping with increased inventory locally.” This should provide buyers with more financial flexibility. However, there is still likely to be a tight inventory in the Petaluma area as housing demand continues to exceed supply availability.
Forecasts predict a substantial 22.9 percent increase in existing, single-family home sales this year, compared to last year. “Homes are moving swiftly,” says Timo. “The current average home value in Petaluma is around $900,000 with homes on the West Side averaging around $1.1m.” Real estate remains more expensive in Bodega Bay, Healdsburg, Penngrove, Sebastopol and Sonoma, which makes Petaluma all the more appealing, price wise, for a desirable Sonoma County address.
“There’s been a downward trend in many Bay Area cities and counties,” says Timo, “Sonoma County on the other hand, retains its value for the money in real estate investments whether you are looking to buy a home for yourself or to rent out.”
Planning helps everyone be a step ahead in addition to having an agent that is highly aware of the local market. Timo is always available to discuss your goals, talk strategy, pivot as needed and work for you in this fast-changing market. Call him today at 707. 477. 8396
Timo Rivetti has been serving his clients with a highly individualized service tailored to specific needs and requirements since 1998. Unparalleled knowledge and expertise in the region is invaluable when it comes to buying and selling real estate. Hiring an agent who knows the area inside out makes all the difference in a competitive market. Timo and his team of experienced professionals work with each and every client to find and secure the perfect property at the best price, with all of the required amenities in the right neighborhood. When it’s time to make a move, call Timo.
What My Clients Have To Say
WHY NAVIGATE REAL ESTATE
If you live here already, you know how blessed we are. If you're considering living or investing here, you've probably experienced some of the area's extraordinary possibilities: country settings and small-town communities; enthralling agricultural beauty, and true farm to fork lifestyle, If Northern California is your real estate destination, you've arrived at the right spot. Whether you're looking to buy your first home - or to sell an estate - expect nothing less from us than a Meritage blend of real estate expertise, professional service, creativity, and a passion for achieving your goals.
MEYER LEMON GINGER SCONES
- 2 1/4 cups plain flour
- 1/4 cup sugar
- 1 tablespoon baking powder
- 2 teaspoons finely grated Meyer lemon zest
- 1/2 teaspoon salt
- 1 1/2 cups heavy cream
- 1/4 cup plus
- 2 teaspoons fresh Meyer lemon juice
- 1/4 cup finely chopped candied ginger
- 2 cups powdered sugar
Preheat the oven to 375°. Line a baking sheet with parchment paper. Whisk flour with sugar, baking powder, lemon zest & salt. Stir in cream and a couple of tablespoons of lemon juice & fold in the candied ginger. Gently knead the dough on a lightly floured work surface until it all comes together. Form a 9-inch round, around 1/2 inch thick. Slice dough into8 wedges and arrange an inch apart on the baking sheet. Bake for 20 to 25minutes, until slightly firm and lightly browned on the bottom, pale on top. Cool for five minutes or so, before transferring to a rack to cool completely. Whisk powdered sugar with the remaining lemon juice until the glaze is smooth. Drizzle lemon glaze over the scones and let stand before serving.
Timo Rivetti has been serving his clients with a highly individualized service tailored to specific needs and requirements since 1998. Unparalleled knowledge and expertise in the region is invaluable when it comes to buying and selling real estate. Hiring an agent who knows the area inside out makes all the difference in a competitive market. Timo and his team of experienced professionals work with each and every client to find and secure the perfect property at the best price, with all of the required amenities in the right neighborhood. When it’s time to make a move, call Timo.
What My Clients Have To Say
WHY NAVIGATE REAL ESTATE
If you live here already, you know how blessed we are. If you're considering living or investing here, you've probably experienced some of the area's extraordinary possibilities: country settings and small-town communities; enthralling agricultural beauty, and true farm to fork lifestyle, If Northern California is your real estate destination, you've arrived at the right spot. Whether you're looking to buy your first home - or to sell an estate - expect nothing less from us than a Meritage blend of real estate expertise, professional service, creativity, and a passion for achieving your goals.
IT’S A PARTY! JOIN US FOR A GRAND OPENING SOCIAL IN THEATRE SQUARE, THURSDAY FEBRUARY 29TH 4-7PM
Celebrate Leap Year’s bonus day, Thursday, February 29th with Timo, Frances, Renee and the NavigateRE Petaluma Real Estate Team in a festive gathering to officially re-open the doors of our beautifully revamped office in Petaluma’s Theatre Square.
You are invited and we’d love to see you! Mark your calendar and come on down to Second Street for
complimentary bites and bubbles between 4pm and 7pm. We look forward to toasting this wonderful new
partnership, welcoming new agents and catching up with our friends and client-family.
February started off with a batting down of the hatches, here in Sonoma Country, so if it’s beginning to feel like one of the longest months of winter by now, then that’s all the more reason to wrap up, head out and join us for this fun, casual gathering on the 29th.
We love to reconnect and it’s been a while since we’ve partied at the office! NavigateRE at 140 Second Street #108 Questions? Call Timo 707- 477- 8396.
Timo Rivetti has been serving his clients with a highly individualized service tailored to specific needs and requirements since 1998. Unparalleled knowledge and expertise in the region is invaluable when it comes to buying and selling real estate. Hiring an agent who knows the area inside out makes all the difference in a competitive market. Timo and his team of experienced professionals work with each and every client to find and secure the perfect property at the best price, with all of the required amenities in the right neighborhood. When it’s time to make a move, call Timo.
What My Clients Have To Say
WHY NAVIGATE REAL ESTATE
If you live here already, you know how blessed we are. If you're considering living or investing here, you've probably experienced some of the area's extraordinary possibilities: country settings and small-town communities; enthralling agricultural beauty, and true farm to fork lifestyle, If Northern California is your real estate destination, you've arrived at the right spot. Whether you're looking to buy your first home - or to sell an estate - expect nothing less from us than a Meritage blend of real estate expertise, professional service, creativity, and a passion for achieving your goals.
FEBRUARY’S FAST-UPTICK IN SONOMA COUNTY REAL ESTATE ACTIVITY
Last year was a challenging year in real estate given the shortage of homes on the market, locally, compounded by high borrowing costs, but the good news is that 2024 has started off with a significant recharge in activity here in the Petaluma area.
“A significant bounce back in market interest and new year sales has my phone ringing at a level I haven’t seen in many months,” says Timo. “It’s extremely encouraging for buyers and sellers.”
“I’m optimistic that this positive turn in the housing market marks a new chapter, though tight housing supply is something that we will continue to deal with here in the south county. Petaluma’s growth boundary protects the sprawl that shapes other communities, which makes this all the more desirable as a place to live.” According to industry specialists, California’s state housing market
is expected to rebound due, largely to a cooling inflation of mortgage rates. Forecasts call for an increase of 22.0 percent in existing, single-family home sales compared to last year.
Looking for a deal in the Bay Area and surrounding region this year? According to date, cities which may see home price declines up to -7.8% by the end of the year include Santa Rosa, Ukiah, San Francisco, Clearlake and Napa. “Whatever housing-related move you make this year, it’s more important than ever to consult with an experienced real estate professional to gain deeper insight into the market dynamics,” says Timo. “Petaluma and surrounding areas in Sonoma County remain a complex market with an imbalance between supply and demand. Although this continues to drive pricing, the area is still known for
competitive pricing when compared to most all of the other Bay Area counties.”
Managing pricing expectations is key. “My sellers work with me to grasp the accurate value of their properties, as opposed to over-inflating and having a home sit on the market,” says Timo. “Likewise, it is vital for buyers to be fully prepared, know what they can afford and be flexible
in a multiple-offer scenario.” Well priced homes in great condition generally sell fast. “If you’re thinking of selling your home this year, let’s talk about what you can do now to prepare your property for the market,” Timo says. “In a world where technology is fast and faceless, the value
of transparency, explanation, empathy and patience during a real estate transaction remains a core element of the Rivetti Team’s service.
Communication is key. And Timo loves to listen, talk strategy, pivot and negotiate in a fast-changing market. Call him today at 707 - 477 - 8396.
Timo Rivetti has been serving his clients with a highly individualized service tailored to specific needs and requirements since 1998. Unparalleled knowledge and expertise in the region is invaluable when it comes to buying and selling real estate. Hiring an agent who knows the area inside out makes all the difference in a competitive market. Timo and his team of experienced professionals work with each and every client to find and secure the perfect property at the best price, with all of the required amenities in the right neighborhood. When it’s time to make a move, call Timo.
What My Clients Have To Say
WHY NAVIGATE REAL ESTATE
If you live here already, you know how blessed we are. If you're considering living or investing here, you've probably experienced some of the area's extraordinary possibilities: country settings and small-town communities; enthralling agricultural beauty, and true farm to fork lifestyle, If Northern California is your real estate destination, you've arrived at the right spot. Whether you're looking to buy your first home - or to sell an estate - expect nothing less from us than a Meritage blend of real estate expertise, professional service, creativity, and a passion for achieving your goals.
HOME TRENDS FOR FEBRUARY
As we reported last month, cool grays and stark whites are on their way out of favor with designers incorporating warm, earthy neutrals to create a calm and welcoming environment in the kitchen and throughout the home.
Beige is back, as is creamy off-white, soft green and rich brown. So, keep that in mind during your remodeling. Different tones, textures and patterns creating a layered look are in, adding depth to home décor.
Bold, dramatic moves are also becoming more popular, with more use of graphic stone, floral wallpaper, large artwork, oversized light fittings and furniture. Sustainable choice renovations remain popular, as modern interiors embrace older elements such as handmade clay tile, brick and rustic wood. Clutter is out. Appliance garages are in. What’s an appliance garage? It’s a sliding cabinet or other specialized cabinetry designed to tuck away appliances and hide gadgets and chargers.
Regardless of your new design choices, updating can not only increase value in your home, but create a welcoming environment for friends and family to enjoy for years. Start one room at a time, evaluate potential changes, plan needs vs wants and budget your remodel. Whether a big remodel or small changes of paint, rugs, pillows, and linens it can make a house ... into a home!
Timo Rivetti has been serving his clients with a highly individualized service tailored to specific needs and requirements since 1998. Unparalleled knowledge and expertise in the region is invaluable when it comes to buying and selling real estate. Hiring an agent who knows the area inside out makes all the difference in a competitive market. Timo and his team of experienced professionals work with each and every client to find and secure the perfect property at the best price, with all of the required amenities in the right neighborhood. When it’s time to make a move, call Timo.
What My Clients Have To Say
WHY NAVIGATE REAL ESTATE
If you live here already, you know how blessed we are. If you're considering living or investing here, you've probably experienced some of the area's extraordinary possibilities: country settings and small-town communities; enthralling agricultural beauty, and true farm to fork lifestyle, If Northern California is your real estate destination, you've arrived at the right spot. Whether you're looking to buy your first home - or to sell an estate - expect nothing less from us than a Meritage blend of real estate expertise, professional service, creativity, and a passion for achieving your goals.
LOW COUNTRY BROIL FOR 8 TO 10
- ½ cup concentrated seafood broil seasoning
- 4 pounds of medium red potatoes, sliced in half or quarters
- 2 large, sweet onions, peeled and quartered
- 2 ½ pounds cured, smoked sausage links, sliced into two-inch pieces
- 8 ears of fresh corn, halved
- 4 pounds medium shrimp
Half fill a large stockpot with water. Add seasoning and bring to a boil. Add potatoes, return to a boil for five minutes. Add sausage and onions and boil on medium heat for 15 minutes. Add corn, bring water back to a boil and cook another 10 minutes or so. Add shrimp, bring back to a boil once more and cook until the shrimp turn pink, around three minutes. Drain through a colander
and serve on a large platter.
HAPPY VALENTINES DAY
Sending all our clients & friends a Happy Valentines! Wishing you all much love & happiness!
Timo Rivetti has been serving his clients with a highly individualized service tailored to specific needs and requirements since 1998. Unparalleled knowledge and expertise in the region is invaluable when it comes to buying and selling real estate. Hiring an agent who knows the area inside out makes all the difference in a competitive market. Timo and his team of experienced professionals work with each and every client to find and secure the perfect property at the best price, with all of the required amenities in the right neighborhood. When it’s time to make a move, call Timo.
What My Clients Have To Say
WHY NAVIGATE REAL ESTATE
If you live here already, you know how blessed we are. If you're considering living or investing here, you've probably experienced some of the area's extraordinary possibilities: country settings and small-town communities; enthralling agricultural beauty, and true farm to fork lifestyle, If Northern California is your real estate destination, you've arrived at the right spot. Whether you're looking to buy your first home - or to sell an estate - expect nothing less from us than a Meritage blend of real estate expertise, professional service, creativity, and a passion for achieving your goals.
LAUNCHING INTO 2024 WITH NAVIGATE REAL ESTATE
It certainly feels good to start the new year with new intentions and goals. The Rivetti Real Estate Team is blazing a fresh and exciting new trail with Navigate RE this January.
Bay Area based Navigate RE brings innovative technology to the real estate industry, transforming the business of buying and selling property by streamlining and simplifying the transaction and marketing process for clients and agents alike.
“What we love about this company is an emphasis on integrity,energy, hard work and service within our Bay Area communities,” says Timo.“Navigate RE is a refreshing change from working with corporate real estate companies that don’t have nearly the same level of passion for serving people at all levels of a property transaction.”
Founding partners, Don McDonald and Donovan Schemke are responsible for over$4.5 Billion in sales over the last 20 years and are consistently ranked in the top 5 in all of California. Their philosophy, Better Companies Make Better Communities matches TheRivetti Team’s principles as we continue to serve, connect and grow, independently.“Community is a top priority for us,” says Timo. “We are dedicated to continually investing in Petaluma relationships and quality of life for our clients and associates.Partnering with Navigate RE this new year provides the technical and professional support to maintain and build upon our legacy real estate business in Petaluma and surrounding areas. This post-holiday season, we’re off to a great start in the new year with multiple listings in the pipeline,” says Timo. Last year’s high interest rates slowed the number of properties coming to the market, but already, in early January, we’re seeing a significant increase in market activity as sellers prepare to list.
Timo and Renee have been operating mobile offices while plans are underway to remodel their downtown location. “It’s important for us to have a central office in thehub of downtown,” says Timo. “We value and enjoy face to face meetings,communication and pop-in visits from so many of our long term and more recent clients.” “We look forward to opening our doors and welcoming everyone with a celebratory gathering as soon as renovations are complete,” says Timo. “Until then,we’re out and about holding open homes on new listings and checking out properties coming soon. We’d love to hear from you, so don’t hesitate to get in touch.”
Timo Rivetti has been serving his clients with a highly individualized service tailored to specific needs and requirements since 1998. Unparalleled knowledge and expertise in the region is invaluable when it comes to buying and selling real estate. Hiring an agent who knows the area inside out makes all the difference in a competitive market. Timo and his team of experienced professionals work with each and every client to find and secure the perfect property at the best price, with all of the required amenities in the right neighborhood. When it’s time to make a move, call Timo.
What My Clients Have To Say
WHY NAVIGATE REAL ESTATE
If you live here already, you know how blessed we are. If you're considering living or investing here, you've probably experienced some of the area's extraordinary possibilities: country settings and small-town communities; enthralling agricultural beauty, and true farm to fork lifestyle, If Northern California is your real estate destination, you've arrived at the right spot. Whether you're looking to buy your first home - or to sell an estate - expect nothing less from us than a Meritage blend of real estate expertise, professional service, creativity, and a passion for achieving your goals.
MARKET PREDICTIONS FOR 2024
Lower mortgage rates are widely anticipated to release a surge in pent-up demand for homes. Average fixed 30-year mortgage rates, peaking at 7.8% last October,have fallen by more than 100 basis points and early indications point to the 2024 housing market slowly unfreezing.
“Concerned homeowners who have been thinking of selling have largely delayed listing their homes until they are able to secure a more favorable interest rate on anew loan for their replacement property,” Timo says. “But there have been manywho need to sell or are able to sell for various reasons and those properties have kept the market tight but fairly buoyant in the Petaluma area over the past year.”
Timo expects to see more properties on the market in 2024 as the mortgage rates decline closer to 6%. There is an assumption that new mortgages are more likely to be refinanced within a few years as rates fall, even though rates dropping below 6%might not reasonably happen until sometime in 2025.
“The supply lull is not likely to go away in the Petaluma area this year as demand by far outstrips home availability. This puts sellers in a good position in 2024 and specific buyers, who must be serious to be in the market, are still hungry to secure the right home.”
Whereas Petaluma’s average home value is currently $884,924, up 2% over the previous year, Sonoma County’s Median Sold Price in December 2023 was$798,620, representing a 1.2% increase over 2022. The average county wide saletime in December last year was just 19 days, compared to 34 days in December 2022. Homes sell faster in Petaluma, averaging just 16 days, currently.
The average home in West Petaluma is valued at $1,038,538 this new year. That represents a 1.9% increase over the previous year.
“Waiting for home prices to drop in Petaluma does not appear to be a wise strategy,” says Timo. Compared to home prices in neighboring Marin County,Petaluma prices are extremely competitive. “There’s only so many pieces of the pie when it comes to securing a home in Petaluma,” says Timo. If you or someone you know would like to buy or sell in the area in 2024, the Rivetti Team is ready to launch into action.
Timo Rivetti has been serving his clients with a highly individualized service tailored to specific needs and requirements since 1998. Unparalleled knowledge and expertise in the region is invaluable when it comes to buying and selling real estate. Hiring an agent who knows the area inside out makes all the difference in a competitive market. Timo and his team of experienced professionals work with each and every client to find and secure the perfect property at the best price, with all of the required amenities in the right neighborhood. When it’s time to make a move, call Timo.
What My Clients Have To Say
WHY NAVIGATE REAL ESTATE
If you live here already, you know how blessed we are. If you're considering living or investing here, you've probably experienced some of the area's extraordinary possibilities: country settings and small-town communities; enthralling agricultural beauty, and true farm to fork lifestyle, If Northern California is your real estate destination, you've arrived at the right spot. Whether you're looking to buy your first home - or to sell an estate - expect nothing less from us than a Meritage blend of real estate expertise, professional service, creativity, and a passion for achieving your goals.
QUIET LUXURY ON TREND FOR 2024 INTERIOR DESIGN
Designers predict an emphasis on classic investment pieces to build a room around in 2024. According to Vogue Interiors, thinkwarm, dark woods, luxurious soft textures and traditionally shaped furniture.
Interior styles may come and go, but it doesn’t take celebrity status to afford the look. Think about re-upholstering that comfy, old sofa, as rich brown and cherry red hues make a comeback.
Out with the fake fur throws and in with textured fabrics such as corduroy,mohair and velvet, tone-on-tone, latte colors and buttery yellows creating living spaces with identity and personality. Dark wood paneled walls are in,creating warmth and coziness. Mix it up with traditional and modern furniture for an eclectic look including pieces you can recycle, re-purpose or even revamp with fresh new paint color or updated fabric.
Dust off grandma’s China and use it this year. Also, embrace the artisan, with locally made one-of-a-kind paintings and pottery and recycled artifacts. That’s easy to do in the Petaluma area. And don’t hesitate to frame the grandkids’ artwork! Ultimately, if you’re buying new furniture, select sustainable items that will last you a lifetime.
Timo Rivetti has been serving his clients with a highly individualized service tailored to specific needs and requirements since 1998. Unparalleled knowledge and expertise in the region is invaluable when it comes to buying and selling real estate. Hiring an agent who knows the area inside out makes all the difference in a competitive market. Timo and his team of experienced professionals work with each and every client to find and secure the perfect property at the best price, with all of the required amenities in the right neighborhood. When it’s time to make a move, call Timo.
What My Clients Have To Say
WHY NAVIGATE REAL ESTATE
If you live here already, you know how blessed we are. If you're considering living or investing here, you've probably experienced some of the area's extraordinary possibilities: country settings and small-town communities; enthralling agricultural beauty, and true farm to fork lifestyle, If Northern California is your real estate destination, you've arrived at the right spot. Whether you're looking to buy your first home - or to sell an estate - expect nothing less from us than a Meritage blend of real estate expertise, professional service, creativity, and a passion for achieving your goals.
Timo Rivetti
Broker Assoc. Managing Partner
NavigateRE
707.477.8396
timo@rivettiteam.com
DRE Lic# 01240796
DRE Lic# 02221115
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