November Newsletter 2020

Demand for homes in the Petaluma area has been extraordinarily robust in the months leading up to the election. So how is the local housing market looking now that we have a new incoming  president for 2021?

As reported by Reuters and other major news outlets, the housing market has been one of the few bright spots since the coronavirus pandemic slammed the U.S. economy, one boom that appears to have been beneficial to the financial

wellbeing of local and American homeowners.

But as with so much uncertainty surrounding the pandemic and the country’s recovery, Petaluma real estate clients want to know whether buying and selling homes will remain as fast paced throughout the winter.

The National Association of Realtors reported U.S. existing home sales surged in September to levels not seen in more than 14 years. With such a degree of the average homeowning Americans’ wealth tied up in the home they live in, maintaining home values provides a reassuring financial buffer in a decidedly uncertain economic moment and we’re not seeing any signs of an about-turn in the market locally at this time.

“There continues to be a rush to meet the demands of a severely undersupplied housing market here in Petaluma,” says Timo. “The one thing I feel sure of in this highly desirable area that we live in is a continuing demand for

single family units from starter homes, to ranchers and all the way up to the luxury private estate.”

My big concern is that first-time buyers or those looking for affordable homes are being priced out of the local market,” says Timo. “Our city’s new council leadership will have to be laser-focused on working toward increasing housing units at all levels according to general plan guidelines and within the city boundaries.”

It is too early to predict if homeowners currently in forbearance will be able to resume mortgage payments or if foreclosure moratoriums will be extended.

Historically, presidential elections have tended to slow down home sales while buyers and sellers process the onset of a new government. According to Forbes, housing consultancy firm Meyers Research conducted a study of

13 presidential elections, finding that median new home sale activity declined 15% from October to November in election years.

“The effect of an election is typically temporary, sparking a rebound as fast as December and January as pent-up demand hits the market again,” says Timo. “With property prices spiking a high this summer in the Petaluma

area, I don’t think we will see one at all given the demand in our region.”

While the late spring and summer months saw a surge in home sales, many

analysts have predicted that activity may cool off slightly this fall.

“It will be interesting to monitor,” says Timo. “It remains a seller’s market here in Petaluma, so the key is to price right from the start. That’s where experienced agents come in. It’s key in timing to listen to your agent’s advice.”

Several key issues in the 2020 election result may have a significant impact in the longer-term outlook. President Elect Joe Biden has indicated he will look to bring back AFFH (Affirmatively Furthering Fair Housing) under his administration. His $640 billion housing plan also includes a proposal to offer a down payment tax credit of up to $15,000 for first-time buyers. Additional down payment

support will go to certain members of the workforce, such as teachers and first responders.

“I’d love to help more first-time-buyers get into the local market in 2021,” says Timo. “Don’t hesitate to refer me to friends and family whose dream it is to buy locally.”

Home ownership continues to go up, in large part because interest rates have fallen to levels that have fueled demand for first-time homebuyers.

Thinking of buying or selling at some stage in the Sonoma County area? Call Timo today at 707. 477. 8396

Della Fattoria is offering take-home

turkey dinners for the first time ever!

Savor the Weber Family’s own legendary

menu at $60 a head. Delicious desserts

and breads available separately. Go To:

https://shop.dellafattoria.com/

Alternatively, you can’t go wrong with

Preferred Sonoma Caterers offering of a

Classic Thanksgiving Menu to go, with a

full order (feeds 8 to 10) at $220 and a half

order for four people at $154. Go To:

http://www.sonomacaterers.com/2020Th

anksgiving.pdf

Petaluma Market’s Holiday Dinner menu

choices include a Classic Turkey (6-8) at

$129.99 or Prime Rib Dinner (6) at $199.

99 or a Salmon en Croute (6) at $119.99

Go To: http://www.petalumamarket.com/

Whole Foods Holiday Meal option is

always a good quality, no-fuss deal. Vegan

meal options too. Go To:

https://www.wholefoodsmarket.com/depa

rtments/catering/holiday-catering

In Cotati? Oliver’s Market Holiday Dinners

are delicious and competitively priced

from $129. Go To:

https://www.oliversmarket.com/product/

holiday-dinner-stony-point/

More options on Frances Rivetti's Blog

www.southernsonomacountrylife.com

Timo's office is showcasing esteemed Sonoma County artist Roberta Ahrens' stunning pieces. 

 Check out Roberta's website for more of her unique and beautiful gallery work.

The stress of not having to endure a pre-COVID-19 pandemic commute has significantly lowered the pressure on those who have been used to enduring round-trip commutes of three hours or more — about the time it takes for a Petaluma resident commuting into San Francisco and back. 

Because stay-at-home orders spurred by the pandemic have kept many of these hard-working folk away from their company desks, many if not most lengthy commutes have largely subsided. “The real estate market here in Petaluma is seeing more homeowners from within the community as well as newcomers reevaluating their priorities for the right home since their proximity to the office matters a lot less right now,” says Timo.

“Now, many of my clients are asking if there is enough room for a permanent home office in their current homes? Do all their family members have enough space for work/study and relaxation? Is there a different location to move to where everyone could be happier or where it’s more affordable to buy extra room?” Several clients are deciding or have taken the plunge to pack up camp and move out of the area or out of state entirely. “It’s across the gamut,” says Timo.

Most working clients say they are hoping for flexible work options to stick around after the pandemic as well. “As more companies continue to extend remote work opportunities in the coming months and as more folk figure out that they’re not tied down to their locale for their jobs, the residential real estate market in Petaluma continues with fast-paced turnaround and high demand,” says Timo. And it’s not just working professionals looking for ideal

work-from-home properties. While first-time and move-up buyers are getting on board and acting fast in a buoyant housing market, I’m seeing a lot of active adult buyers from inside and outside of the area with their eyes on West Petaluma in particular,” says Timo. Indeed, according to Realtor Magazine, older Americans are a key component of housing the demand, nationwide. The 65-and-older population is predicted to increase by 17 million over the next decade, according to industry observers. “Seniors tend

to have larger homes they can sell in order to downsize,” Timo says. But, according to Realtor Magazine, as with all buyer populations, an ongoing lack of housing inventory may continue to pose the biggest issue. That’s why it is vital to work with an experienced agent with stellar negotiation skills. “Desirable properties are snapped up so fast in this market, it’s important to have all your ducks in a row if you are purchasing — loan preapproval and non-contingent status is best,” says Timo. “But if you have to sell in order to

buy, I am happy to strategize to realize the home that works for you, now.”

Properties that feature work-from-home spaces are equally important to the older population. More than 70% of new-home shoppers between the ages of 55 and 69 say they have a household member who works at home at least part-time, recent real estate studies show. “Also, blended indoor and outdoor spaces, porches, covered patios and outdoor living rooms, are premium priorities to those looking for homes in the Petaluma area,” says Timo

“The Petaluma area continues to showcase itself as a welcoming community to neighbors who have experienced repeated evacuations,” says Timo. “It’s no surprise that  more and more people are coming to town with an interest in moving here.” “For every local homeowner who decides to

pack up and sell, there are multiple buyers waiting in the wings to move in,” says Timo. “And it’s encouraging to see properties being carefully and considerately utilized for increased levels of multi-generational living and innovative use of space.” Where once it was the large, sprawling homes that were most coveted, today’s buyers have a whole new set of priorities, including an awareness of the environmental impact of green belt encroachment and living in a smaller footprint. Secondary units offer rental

income for much-needed housing and/or extended family-living options and boost a property’s selling potential exponentially. Low inventory and high demand continue to push prices up this fall as we head into winter making it

a good time for sellers. 

Thinking of buying or selling at some stage in the Petaluma area? Call Timo today at 707. 477. 8396

Low fixed mortgage rates are booming in the housing market. The National Association of REALTORS® reported that housing contract signings in August jumped 24% from a year ago.

Pending home sales are exceeding pre-pandemic levels, with all four major regions of the U.S. posting higher sales

activity. “As a result of low mortgage rates that have stayed under 3% since July, the housing market has seen a strong, upward trajectory during a very uncertain time,” says Sam Khater, Freddie Mac’s chief economist, according to

Realtor.com. “We’re seeing potential home buyers who now have more purchasing power and many current home owners who have the option to refinance their loan for a better rate. However, several factors could disrupt this activity including high home prices, low inventory, and lender capacity.” 

Home prices have climbed as housing inventory remains low in Sonoma County. Whereas NAR recently reported that the national median home sales price was $310,600 in August, up 11.4% compared to a year ago ($278,800). Locally the county-wide August Median home price was recorded at $660,000 for a 3 bed/2 bath and $740,000 for a 4 bed 2/bath home. The West Petaluma median home

price for August is considerably higher than the county average at $888,000 with East Petaluma around $715,000.

Timo listed a classic, turn-key California walk-to-town West-side bungalow this September. “Coming Soon” alerts on MLS alerted agents in the area to the upcoming opportunity for prospective buyers and the property received multiple, immediate pre-sale offers, including two from highly motivated cash buyers. 

“My clients were out of the area and unable to utilize their Petaluma home this year. We discussed strategy of timing for sale and decided this was as hot a market as we have seen in a while,” says Timo.

Executive assistant, Renee' spent several hours in thorough, cross-country video-calls inside the property with the owners at the other end of the screen. Together, they worked out a plan to de-clutter and donate any home goods and furnishings the owners did not wish to have packed and shipped after the house sold. 

“Renee' expertly staged the home and it presented beautifully,” says Timo. “It helped that the owners have great taste in décor and the house was immaculately appointed  to start with.” 

For most folk in the position of buying a home, the closing process on a purchase may take anywhere from a week to 60 days, depending on the property type, whether or not they are obtaining a mortgage and what type of loan they’re taking out. The closing process includes two distinct periods:

Escrow is the period of time between when the buyer and the seller sign the contract and the day the buyer closes on their new home.

Closing day is when the buyer is handed the keys and become the official owner of a new home.

Part of what makes closings take so long is the financing requirements, therefore if you are buying a home and are lucky enough to be paying with cash, this generally expedites the process. If you are paying with cash, you may be able to close in as little as seven days after contract execution, assuming you’re willing to waive contingencies.

“Typically, less than 30% of home purchases are cash transactions,” says Timo. “And yet we are currently seeing unprecedented cash offers on properties in the Petaluma area during this first year of a pandemic.”

People with the means to pay cash are showing that they’re highly motivated into making a swift move, putting themselves into a home that suits their exact immediate needs and requirements, at least for the foreseeable future.

“Buyers are not messing around when it comes to getting what they want and savvy sellers are happy to oblige when there’s a swift meeting of the minds,” says Timo. 

One of the top questions I’m being asked as a real estate professional here in the Petaluma area, is: “When should I sell?” Nobody has a crystal ball, unfortunately, I wish I did. But what I will say is that we don’t know if current market conditions will last through the election and the winter, so if selling is in your short-term future, it’s likely a wise move to

tap into the current demand.”

Timo is happy to discuss real estate needs, timing or otherwise. Call him today at 707.477.8396.

 We love our pets and know that they are just as affected by the poor air quality and wildfire smoke as we humans are here in Sonoma County. Smoke irritates animal eyes and respiratory tracts, as it does our own.

It’s important that we protect animals with heart or lung disease and older pets who are especially at risk from smoke and should be kept a close eye on during all periods of poor air quality.

When smoke is present, we should keep animals indoors as much as possible, according to air quality experts. Limit walks. If it’s at all feasible, bring outdoor pets indoors: any place where there is good ventilation, such as a barn, garage, utility room or bathroom. Remove any potentially dangerous products.

Pet birds are especially prone to suffer outside during wildfire season. Don’t forget about an evacuation kit for your pets. If you are forced to leave a pet at during an evacuation, do not tie it up. 

As Sonoma County’s economy tentatively reopens and shelter-in-place restrictions ease, housing experts anticipate that home sales will likely continue to rise through the fall season. 

The number one issue keeping sales  from going through the roof is the lack of listings available.

There continues to be a huge appetite for homes in this area,” says Timo. “Both from newcomers fleeing urban areas and from locals looking for properties that are more suitable for their current  needs.”

Historically low mortgage rates that are hovering at around 3.03 percent are around 2 percentage points lower than they were this time last year which is further fueling demand.

“These low mortgage rates are a game changer,” says Timo. “And buyers don’t want to miss out.”

According to NAR, nearly 60 percent of homes sold this summer found new owners in less than 30 days. Realtor.com reported a slightly longer lead time, though the company anticipates lead times shrinking as home buyers continue to make offers in an increasingly competitive market.

Home showings, enhanced with face masks, limiting the number of people per showing, six feet distancing and hand sanitizing continue to take place and the numerous services that support the market, such as inspections and escrow closings, have also adapted safety protocol to remain operational. 

Home-buyers enthusiasm is powering the local housing market, despite a dip in mostly all economic indicators.

“Purchasers are making the biggest financial commitment of their lives in most cases,” says Timo. “It’s an uncharted time to buy or sell a home but sales are continuing to happen at an increasingly fast pace.” 

The rapid adoption of work-from-home arrangements has led to a mass exodus of buyers moving farther from more heavily-populated areas, with people leaving big cities for the suburbs, small towns and rural areas such as Petaluma and surrounding countryside. Experts believe this move from urban centers may be a permanent change.

“The balloon in interest locally is pushing prices up,” says Timo. “It will be interesting to see if sales slow down any during the winter months when factors such as a second wave of the pandemic and potential lock-down may soften upward price curves.”

However, as the year moves toward its end and into 2021, experts do predict more ongoing preference changes as buyers seek additional space and amenities in their home.

“This takes us back to the shortage in home supplies,” says Timo. “As the economy gradually opens up, these shortages will become more heightened. The next twelve to eighteen months are a good time to sell, basically.”

Thinking of making a move in the Petaluma area? Call Timo for a consultation and evaluation on your needs today at 707- 477-8396.

“My team is extremely well-versed in handling the listing or purchasing procedure in this current climate for our clients,” says Timo.

Fresh mozzarella, juicy, sweet peaches and ripe, seasonal tomatoes. This summery salad is all about simple ingredients, enjoyed at their peak.

• 1/2 cup white balsamic vinegar
• 1 garlic clove, minced
•  3 tbsp brown sugar
• 3 tbsp olive oil
• 1/4 tsp Salt
• 2 fresh peaches, cut into 1-inch pieces
• 2 lbs heirloom tomatoes, cut into 1-inch pieces        
• 4 tbsp fresh basil, chopped
• 8 oz fresh mozzarella cut into 1-inch pieces
• Fine sea salt/fresh ground black pepper 

In a small bowl, whisk together the vinegar, garlic, sugar, olive oil and 1/4 teaspoon salt until fully incorporated.

Stir the peaches, tomatoes and the basil together with the dressing. Mix in mozzarella. Sprinkle with fine sea salt & freshly ground pepper to taste. 

“The ache for home lives in all of us. The safe place where we can go as we are and not be questioned.” 

— Maya Angelou 

Home has taken on a whole new level of significance in all of our lives over the past few months. And so it is not too surprising to us that real estate market activity in Petaluma and surrounding areas has not experienced the slow-down that urban areas are reporting since COVID-19 social distancing restrictions kicked in. 

“Quite the opposite,” says Timo. “The Petaluma area is an idyllic place to be during the current pandemic. And brokers and agents throughout Sonoma County are continuing to respond to a rush to market as motivated sellers see this unprecedented period as an opportunity to reach buyers who are looking to secure their own personal nirvana.”

The beautiful Sonoma County countryside, a deep sense of community and quaint, historic downtown lure of Petaluma is proving itself of enormous appeal to city dwellers looking to make the move north.

“Working from home has taken on a whole new momentum as some of the major tech companies and many smaller businesses in that field have advised their employees that telecommuting is not only permitted, but often-time mandated for the foreseeable future,” says Timo.

Low supply and growing demand are causing a surge in bidding wars and not necessarily in the starter home category. “Demand for homes with walkability and also land and those that are able to accommodate multi-generational living is intense,” says Timo. “Many homebuyers are searching for more space as they figure a home office and room for home schooling may become the norm.”

“Buyers have been locked into their space for three months and they’re evaluating whether they have enough room inside, outside. Is there enough light? Do they have a suitable home office? What is their quality of life outside of the home?”

If the answers to those questions are no, buyers are calling their agent. “Then, let’s factor in the record low interest rates,” says Timo. “Whatever happens to the market, home comes first and if a client secures a low interest rate on their mortgage, it’s proving one of the smartest moves to make right now.”

If the middle of a pandemic-induced recession, with millions of people out of work and the future uncertain does not seem like the greatest time to drop big bucks on a move, it’s not stopping many of Timo’s clients from buying and selling. 

“There are many reasons for my clients to move at any given time. The current situation, in my experience, has heightened many of those motivations and it has been reassuring to be able to facilitate numerous seamless sales and purchases since the outset of the pandemic.”

Safety protocol in real estate ramped up remarkably quickly in response to these needs and buyers and sellers have been extremely cooperative. 

“I’m impressed by the level of care and consideration that ushers through a home sale and purchase currently,” says Timo. “From initial consultation to listing, photographs, limited showings, title and escrow and move out/in.”

Wealthy city dwellers seeking large properties with pools and plenty of acreage have led to a sharp rise in interest and pricing in the luxury home market, locally. 

"COVID-19 and the recession have not affected everyone equally," says Javier Vivas, realtor.com's director of economic research. "We're coming off a great economic boom — and home buyers in the luxury tier have accumulated wealth for these types of purchases. This is not atypical, as high net worth individuals are traditionally less affected by recessionary blips, and some see it as an opportunity to invest or offload cash into real estate."

Many less wealthy urban dwellers are reassessing their expensive rents during Covid-19. “Many folk who have been furloughed, laid off, suffering from reduced wages, or other financial difficulty, have had or are having a conversation with their landlords about reducing their lease or getting an abatement,” says Timo. “We’re seeing this play out in the Petaluma area as young people move back in with their parents and families figure out a way forward with housing needs, together.”

In a time where it may have seemed more likely that the housing market would remain stagnant, its buoyancy is reflected in the desirability of the regional location in balance with affordability in the greater Bay Area. 

“If you’re thinking of buying or selling, I am happy to talk through your needs and prospective options,” says Timo. “Establishing a solid strategy is key to making it happen.” 

“Home is the nicest word there is.” 

— Laura Ingalls Wilder

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Approx 1680 Sq Ft Has Been Refurbished Throughout & Sits in a Majestic Setting with Filtered Views Of Marin Hills. Upgrades Include Integrity Marvin Windows, Refinished Oak Floors, New Kitchen w/Kohler Farmhouse Sink, Silestone Countertops, LED Lighting, Bathroom w/ Clawfoot Tub, Master Bathroom w/ Walk In Shower, Solid Cherry Vanities, Fitted Elfa Closet Systems in Bedrooms, Door Pine Casings, Baseboards & Crown Molding, Upgraded Electrical to Support Generator, Rare 2 Car Garage New Cedar Fencing &

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Home prices are holding their own here in Sonoma County as we move towards summer, despite COVID-19 selling restrictions. “Casual showings have moved online, with strict regulations for pre-screened, in-person viewings according to new, state and county-wide real estate guidelines,” says Timo, who reports an unexpected Spring season surge in calls from all over the State with regards to properties he has listed in the Petaluma area.

“Although I wasn’t anticipating this level of interest in real estate during the early stages of the lock down, it is not surprising to me that our Sonoma County communities and surrounding area is looking better than ever these days. Prices are holding their own as a consequence of supply and demand.”

Many recent sales in the south county were already in contract before the stay-at-home orders came into place, but it didn’t take long for real estate professionals to adapt to strict new guidelines in order to respond to a continuing strong market.

Despite an economy that has ground to a halt in most businesses and industries, real estate has emerged as being a continued necessity for people who have valid reasons to move. And aside from marriages, divorces, multi-generational home shares, births, job relocation and reasons for downsizing, many others are re-evaluating their lives right now, with housing being at the top of their list.

We are all redefining in one way or another,” says Timo. “A major consideration I’m keeping busy in response to with local clients as well as potential clients calling on my listings, is narrowing down property needs and desires. Buyers and sellers both are redefining what works best for them right now and going forward into the new

normal.” 

It’s one thing to define your “dream home” and another to figure out how to make this in any way a realistic viability. “It’s a different set of criteria for each client. It’s my job to help them figure out what is at the top of the list and how to find the right home that fits the bill for the best price.” 

“There’s no low-balling or bargain hunting taking place,” says Timo. “Inventory remains fairly low, so my sellers are not taking a bath at this point.”

From a buyer’s perspective: “Sales are moving fairly swiftly, as buyers recognize the value of location in this current market.” 

Nobody is able to predict what the market will be like going forward. “Though, I continue to take my lead from real estate analysts and financial advisors in that real estate should remain a long-term investment,” says Timo.

Realtor.com reports the Corona virus has Americans window shopping real estate like crazy: “Nothing delivers like a listing photo of a spacious cabin on a remote, wooded 10 acres with a lush garden overlooking a private lake,” reports Janet Siroto from her New York apartment in a high-rise building in a May 5th article. “My anxiety craves an escape hatch.” Window shopping for real estate fills folks with a sense of calm.

“Many are seeing this pandemic era as a sign that we shouldn’t be living in too close quarters,” says Timo. “Online views for Petaluma area properties are ticking up. Some maybe are looking to escape to the country and small-town life, while others wonder if they may need to relocate from more expensive areas if they don’t have the financial resources to stick it out in high rent/real estate

communities. A lot more people are figuring out if they can work from home indefinitely, why pay the price for cramped accommodations?” 

There are a lot of real estate plan B’s being formulated in real time.

“Whatever your reason to be in the market at this time, it’s important to remind yourself that having the freedom to take the reins and make a fresh start is still within your reach. “We all want to live our best lives right now and going forward,” says Timo. “I’m expecting more inventory to come onto the market and I am happy to take your call.”

3451  Parker Hill Road in Santa Rosa features 5 bedrooms, 3 baths and 3153 sq ft of beautifully remodeled living space.  Set behind a gated entry on a private 30,600+ sq ft lot with a gorgeous new kitchen remodel, swimming pool, entertaining areas, 2-car garage, additional 2 car garage/workshop and more!

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Governor Gavin Newsom announced recently that four of the five big banks Citigroup, JPMorgan Chase, U.S. Bank and Wells Fargo along with almost 200 state-chartered banks and credit unions agreed to put off collecting mortgage payments for up to 90 days from borrowers who can document they’ve been affected by the crisis. 

He said the financial institutions also agreed not to report the late payments to credit agencies and wouldn’t start foreclosure sales or evictions. If you are a homeowner experiencing financial hardship directly or indirectly related to Coronavirus (COVID-19) and your mortgage is owned by Freddie Mac, contact your loan servicer (the company listed on your mortgage statement) to discuss your options. Whether you’re facing job loss, reduced income, illness or other issues that impact your ability to make your monthly mortgage payment, Freddie Mac is working to ensure you are protected. The company has directed your loan servicer to provide mortgage relief options that include: 

• Ensuring payment relief by providing forbearance for up to 12 months. 
• Waiving assessments of penalties or late fees 
• Halting all foreclosure sales and evictions of borrowers living in homes owned by the company until at least May 17, 2020.
• Suspending reporting to credit bureaus of past due payments of  borrowers who are in a forbearance plan as a result of hardships attributable to this national emergency. 
•  Offering loan modification options to provide mortgage payment relief  or keep those payments the same after the forbearance period. 

Borrowers are eligible for forbearance regardless of whether their property is owner occupied, a second home or an investment property. If you are struggling to make your mortgage payments or believe you may fall behind on payments soon, don’t wait – contact your loan servicer now. 

Staying safe from the new coronavirus means staying home. But infectious germs can live inside our houses, also.

To minimize the risk of sickness, the Centers for Disease Control and Prevention recommend we frequently disinfect high-touch surfaces, including counter-tops, doorknobs, cellphones and toilet flush handles, since some pathogens may live on surfaces for several hours or more. 

Are we disinfecting properly? First, we need to clean—removing grease or grime—before we disinfect. Second, the disinfectant must remain on the surface for several minutes, before it dries or is wiped off. “Check the label for wait times to make sure the virus kill is effective,” Sansoni says. 

Bleach and other cleaning products are in short supply. We have to be careful not to overuse chemical cleaners and, worse, mixing cleaning products in hopes of boosting their effectiveness. 

Here are some other tips for staying safe at home: The CDC recommends washing hands vigorously with soap and water for at least 20 seconds. If you don’t have alcohol-based hand sanitizer, any soap will do the job as long as we wash our hands thoroughly and as instructed. 

For a homemade disinfectant, the CDC recommends mixing a quarter-cup of household chlorine bleach with one gallon of cool water. After disinfecting food-prep surfaces such as cutting boards and counter-tops, rinse them with water before use. For laundry, use detergent and bleach (for white loads) or peroxide or color-safe bleach (for colors) to kill germs. (Be sure to read clothing labels to avoid damaging garments.) To boost the effect, some washing machines have sanitize or steam settings that kill germs. Drying laundry on the dryer’s hot cycle for 45 minutes also is effective. If possible, operate dishwashers on the sanitizing cycle. 

 One of the big tax deductions you may qualify for after a home sale are the selling costs. “Be sure to check in with your financial advisor about any tax deductions you may be eligible for after selling your home,” says Timo. Costs that are directly tied to the sale of the home qualify for tax breaks. Also, if you’ve lived in your home as your principal residence for at least two out of the five years prior to selling you may earn tax advantages.  You can deduct any costs associated with selling the home—including legal fees, escrow fees, advertising costs, and real estate agent commissions,” says Joshua Zimmelman, president of Westwood Tax and Consulting in Rockville Center, N.Y in February’s edition of Realtor Magazine. However, tax experts do warn that these costs are not deducted in the same way that mortgage interest is. Instead, they are subtracted from the sales price of the home, which turns into a capital gains tax. Other potential deductions for sellers include home improvement and repair costs. “If you undertook renovations to make your home more marketable, you may be able to deduct these costs from your taxes,” says Timo. Renovation projects may include exterior and interior house paint, roof repairs or a or new water heater, for example. “Deduct these kinds of expenses as selling costs, if they were made within 90 days of the closing,” Timo says.

Cash-strapped millennials who don’t have access to financial support are teaming up with friends for an entryway into home-ownership. 

According to data from the National Assoc. of Realtors ®, those faced with rising home prices and student loan-debt are figuring out how to get into the housing market by thinking outside of the typical single-family box. 

Co-buying is a business transaction, even among friends. “It’s no longer the unusual avenue and it's inspiring to be working with creative people who have the tools to collaborate and make home-ownership possible for themselves, their partners and friends” says Timo.

Interested in co-buying as a potential option for yourself or a family member? Give Timo a call or send him an email to set up a time to explore the idea further.

 Slow Cooked Irish Stew

• 1 tbsp sunflower oil
• 8 oz streaky bacon
• 2 pounds stewing lamb chunks
• Small bunch of thyme
• 2 onions, chopped
• 5 carrots, diced
• 6 medium potatoes cubed
• 3 cups lamb or vegetable stock
• 3 bay leaves
• 3 ounces pearl barley
• 2 Lg. leeks washed/cut into chunks
• 1 Tablespoon of butter
•  Salt & pepper to taste

Sizzle bacon in a pan over medium heat and place into a Dutch Oven or similar. Brown the lamb chunks in the bacon fat in the pan and place into the Dutch Oven with chopped thyme, onions, carrots, potatoes, stock, bay leaves and just enough water to cover the meat. Cover and bake in oven on a low heat for seven hours. Stir in pearl barley and leek and cook on a higher heat for another hour or so until the pearly barley is tender. Stir in butter, season and serve hot with a hearty bread.

Beware of Real Estate Wire Fraud Scams — How to Protect Yourself From Being Tricked Out of Huge Amounts of Money During Final Stages of Property Transactions.

Home buyers are being tricked into wiring large down payments on the transaction closing day by criminals

spoofing or co-opting real estate industry email accounts.

Sonoma County home buyers beware. This is a real and current trend of cyber-crime, a new variant of wire fraud that is something everyone involved in real estate transactions must be made fully aware of in order to protect buyers, sellers and professionals in the real estate, loan and brokerage business from being extorted. 

"Don’t be caught in this nightmare scenario in which a scammer expertly times tricking you into wiring your down payment to an offshore account ,” says Timo. "The so-called business email compromise targets people who are involved in a pending real estate transaction and are expecting to be wiring money that day or week.”

The Federal Bureau of Investigation has been called into our region early this year to investigate cyber-crimes in this arena. “Crimes of this kind have reportedly risen to a level 14 times higher than last year,” says Timo. “Be informed and be on alert.” 

How do they get away with it? Someone in the loop, be it a loan offer, real estate attorney or broker has their email account compromised by malicious software, malware, sent by a criminal over email. Unbeknownst to the email account holder, the fraudster monitors unprotected emails in search of pending transactions.

“As the closing date approaches, the fraudster sends a legit looking email message to the buyer, informing him or her of a change of plans in that the down payment must be wired before the closing date to an account reportedly belonging to the seller,” explains Timo. “The account, in fact, belongs to a criminal, generally outside of the country and beyond the reach of law enforcement.” Fraudsters even follow up with phone calls and texts reassuring the wire transfer is for real.

Once the money is gone from an account for 24 hours it is near impossible to get it back. To be tricked by this sophisticated scam is to lose life savings in many cases along with the dream house purchase. 

Steps to Take to Protect Yourself:

Vigilance. Be aware that these scams are a possibility. Verify any suspicious email with phone calls to a double-checked contact number on record.

Voice Verify. Voice verification first when logging into new websites, transacting money or supplying any kind of financial info.

Talk to Your Bank. Ask your banker not to allow any wire transfers from you without a voice verification and add a note to primary accounts to put additional steps in place before allowing transfers to go through.

Don’t React Straight Away to Email. Always follow up with a call to the escrow/title company, attorney, your realtor, bank, lawyers or others for confirmation to an email requesting a financial transaction.

According to Realtor Magazine, many homeowners who opt to downsize into a smaller place report that saving money is

their chief motivator, along with having to manage less space after the kids are raised.

“However, some home buyers do have downsizing regret as they transition into a smaller home,” says Timo. “It’s a good

idea to consult with an experienced agent when taking this important leap. I’ve worked with many clients over the years as they navigate this life transition, often times when parents become grandparents and wish to relocate to be

closer to the grandkids.”

There are many aspects to take into consideration to be happy with a downsizing decision. Pairing down possessions is a major challenge when downsizing to a smaller home, and the loss of space is one of most people’s

greatest challenges. “If your move takes you farther away from family or friends, it can be difficult,” says Timo. Many empty nesters who downsize make sure that a smaller home has room for their adult kids to return for the occasional overnight if the new location is not based on their proximity to one or more of their children.

“Less square footage generally means lower utility bills and less space for clutter to rebuild,” says Timo. “It may seem daunting to embark on a downsizing plan, but I recommend starting early with taking one room at a time in your current home and going through your belongings to decide what

you’d like to keep, what you are going to donate or sell and what needs to go to the dump.” Consider taking photos of items you think someone in the family or a friend may like or need and send out an email with a firm timeline to pick

up. “Take measurements of furniture you’re hoping to move with you and keep a note of these dimensions to have on hand when you start looking at smaller properties.”

“Moving is stressful, but if you’ve done the work of pairing down ahead of time, it can be rejuvenating and exciting to start afresh,” says Timo. According to the National Association of Realtors, the average home size in 1950 was

1,000 square feet. “Families were bigger back then,” says Timo. “Today’s average size home is 2,600 feet. Moving towards a smaller square footage may well boost your retirement fund, cut costs and reduce maintenance for the future. A more intimate living space has a lot of appeal.”

Grilled Fennel, Nectarine, Pomegranate & Herb Salad

After all the excess of the holidays, what could be more delicious and nutritious than a zingy and colorful winter salad? Serve with grilled salmon or roast chicken.

Ingredients: 

• 6 nectarine oranges
• Lemon juice
• Olive oil
• Salt
• 2 Lg. fennel bulbs, trimmed,
• sliced into thin rounds & grilled
• Tarragon leaves, roughly
• chopped
• Coriander leaves, roughly
• chopped
• Mint leaves
• 8 oz. Pomegranate Arils

Top and tail the peeled nectarines with a sharp knife and slice into a wide salad bowl. Add grilled fennel, herbs and pomegranate arils with lemon juice, oil, a tablespoon of salt and toss. Serves four to six.