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.