Setting: the Wild Card in Country Property Values
Pricing residential country property is very challenging-there are so many variables to consider beyond beds and baths, square footage and age, location and condition. The size and condition of the septic system, the condition of the well and its capacity and water quality, zoning, expansion possibilities and more. (If you would have told me back at Swarthmore that I would become reasonably expert in any of these issues --especially septic--I would have doubted your sanity. Since a good 70 percent of the properties in Sonoma County are on well and septic, one of the most valuable services I can offer my clients is my ability to work with them, along with a team of experts  to carefully ensure that a property will be suitable for their needs, now and the foreseeable future. There are many great resources and people available to assist in the process, and an agent knowledgeable in country property can streamline the search and buying process for their clients, and help them to avoid pitfalls. But the true wildcard in valuation of country property is the setting. An exceptionally private, serene setting with pastoral or dramatic views, in a tranquil location of (name your pick) wild hills and orchards, vineyards, horse farms, quaint farmhouses, redwoods or oak-studded hills, or various combinations of these, have a perceived value to the buyer that is very difficult to value. It seems that many out of town buyers coming to a wonderful destination such as the wine country of Northern California, all want the proto-typical vintage farmhouse with wrap-around porch in a scenic setting. They dont't want to see or hear neighbors close by, and they'd probably like to see (or own) a vineyard or two.  Is the setting wild card factor worth $20,000 per acre, or more? Will a property be so gorgeous or secluded that someone will "overpay" by six figures? Is it really over-paying if a willing buyer puts the money on the table? A client and I  viewed a property priced at $1.1 million the other day that perfectly met my buyers' needs for a weekend home in Sonoma county. By all rights, and based upon extensive touring, the property, in my opinion and the opinion of many agents I know, should have been priced under $1m, possibly closer to $950Kor $925K, even if in perfect condition. However, it was exactly a kind of property that would be a perfect weekend retreat...
Horses and Wine Country
For more inspiration about the wine country from a horsey viewpoint. This article was posted last year in the monthly on-line magazine from Bay Area Equestrian Network, an invaluable resource for all things equestrian in Northern California. There are other regional equestrian magazines around the US, but this is one of the first and most widely visited. I bought my truck and my living quarters trailer through this site, although www.usedtrailers.com and www.endurance.net are also good trailer-finding resourses, but that can be a subject for a different day. Ciao for now....
Wine Country and Horses
Hi All, This is the first post of what i hope will be a series of regular comments on the Sonoma County wine country lifestyle and my experiences as a realtor with Coldwell Banker entering my fifth year of business. I am a high tech refugee from the Bay Area who traded in my home with views of San Francisco Bay for 3.5 acres in the wine country northwest of Santa Rosa nine years ago. My purpose was to fulfill a life long dream to own a horse property and have some more room to roam for myself and my Vizsla dogs, with whom I compete with at field events along with the horse or rather now, horses, plural. Personally I spent countless weekends searching both Sonoma and to a lesser extent, Marin and Napa counties before I found a beautiful spot on a quiet lane in the Olivet area. Wine Spectator just featured this part of Sonoma County so I guess it is catching on. (registration required).It was one of the last places I expected to buy since many of my friends owned property over in the Valley of the Moon area, i.e. Kenwood, Glen Ellen and the town of Sonoma, and their places were my base while I searched. However, one day I found a really neglected 3.5 acre piece surrounded by vineyards and horse properties which had sat on the market for over seven months. It had been very overpriced and showed poorly. Not a good sales strategy but a great opportunity for a buyer (and experienced friend) to whom setting was paramount, and the rest could be fixed. The place was full of stuff, not well maintained and a student lived in it and had the heat on to over 80 degrees every day. The grounds were neglected and there was an old prune orchard on a big chunk of it. However, the setting was secluded, with vineyard views and a quiet, peaceful feel away from major road, yet 10 minutes to everything. I was sold. Anyway, I am very glad to have landed here, as are my horses, and absolutely love Northern and Western Sonoma County, which have so much to offer. I really don’t miss the Bay Area, and can easily get to the Golden Gate Bridge in an hour (traffic permitting of course.) I fell so much more in love with the area that...