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THE SONOMA COUNTY INCOME PROPERTY REPORT Hello Friends, If this is the first time you have received our newsletter, the goal of this report is to provide rental and sales trend information to Sonoma County income property owners. We all have unique financial goals and need to make our decisions armed with the best information available.

significantly lower rents, it seems clear that the days of 29.1% rent increases are over and Sonoma County will settle on the new norm of rental housing values. Tenants who have had to shoulder the burden of the hand over fist gains that were seen after 2012 can rest assured that the short term will bring predictability in line with traditional rental trends. RENT CONTROL UPDATE

RENTAL MARKET The average Sonoma County (Santa RosaPetaluma-Rohnert Park) rent for apartments nd was $1,569 by the end of the 2 quarter of 2017. This represents a quarter-over-quarter increase of 2.8% and a year-over-year increase of 3%. The year to date rental growth as of 7/3/17 was 2.8%, which is in line with the recent overall trends of stabilization. Typically the lion’s share of rental growth occurs during the last two quarters of the year, so we will be watching to see how the rest of the year shakes out. The occupancy factor for the quarter ending 2Q 2017 was 96.3%. This represents a 1-year st change of -.3% and a dead heat from the 1 quarter rate of 96.3%. CRUNCHING THE NUMBERS While 2016 brought the slowest rental growth since 2012 with a rate of 4.7%, 2017 may prove to be even slower if rental growth does not significantly increase from the year to date number of 2.8%. As stated in my prior report, these numbers offer sustained evidence that we have entered into a market that is more in line with CPI than at any time since the start of the housing recovery. Sonoma County officials state that they will finally allow streamlined new construction throughout the county. Officials are projecting that within the next 5 years 1,375 new units will become available in Santa Rosa, while the rest of the county will add 2,000. This is enough inventory to affect the vacancy factor and will likely help to keep the rental market in check. While nobody is expecting that the genie will be put back into the bottle in favor of

On June 6th, voters were asked whether or not to approve Ballot Measure C. Measure C would have limited rent increases to no more than 3% annually and would have prohibited landlords from evicting tenants without a just cause. The ordinance would have applied to 3 or more unit apartment complexes built prior to 1995 within Santa Rosa City limits. In spite of early polling which indicated that measure C would soundly pass, the measure lost by a margin of 52.5% to 47.5%, with all 65 precincts reporting. For Santa Rosa landlords that could have been affected, we woke up feeling a sense of relief. Like many of you, I was a firm believer that the approval of Measure C would have had an adverse affect on property values and would have punished landlords who maintained below market rents. It is my hope that city officials will now concentrate on effective ways to address our housing shortage and homeless problem by fast tracking approvals for fair market and subsidized housing construction permits. I want to thank those of you who were instrumental in organizing the effort to defeat Measure C. Make no mistake about it, this issue will not go away and will likely resurface in 2018. Landlords should take this time to improve units and institute market rate rents to protect against the possibility of future measures. 2-4 UNIT SALES Sonoma County 2-4 unit sales saw a 13.84% year-over-year increase for the period ending 2Q 2017. Quarter-over-quarter sales saw a -5.04 decrease for the period ending 2Q 2017. ACTIVE UNITS As of this date there are 45, 2-4 unit properties listed for sale in Sonoma County. 21 of these

Sonoma County Average Asking Rents – Quarterly

Statistical data provided by Costar

properties are under contract, with an average of 94 days on the market. The average days on the market for properties not under contract is 91. The average list price for the properties under contract is $732,043, while the average list price for properties not under contract is $908,913. While we always like to include the active data for properties not under contract, it should be noted that 6 of these properties skewing the numbers are listed for over 1 million dollars and include multiple units on one lot, several with acreage. These units are more residential in nature and are more suitable for end users. 3Q PROJECTION Given the fact that the average sales price during the second quarter was $634,000 and the under contract list price for properties currently under contract is $732,000, it is fair to assume that the third quarter of 2017 will likely erase the second quarter losses, since the list to sales price ratio has been aprx -2% over the last several quarters. If this differential holds, we could be looking at an approximate 13% quarter-over-quarter gain and an 8% year to rd date increase by the end of the 3 quarter of 2017. BALANCED MARKET While the rental market has showed sustained evidence of leveling, the yearover-year sales numbers have increased in defiance of the flattening rental market. My experience on the ground is that cap rates on income producing properties have not significantly decreased, which leaves the recent drop in interest rates as the likely reason for the sales value increase. In addition, buyers are paying a premium for prime units with market rents now more than at any time in recent memory. It seems that a majority of our recent buyers have a 415 area code and respond to turnkey properties with savvy marketing. There are always

Asking Rent/ SQ Ft - 3 Year


!

Direct: (707) 696-3742 !

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CoStar Property® - Analytic

CoStar Property® - Analytic

Petaluma Leasing Units

178

Vacancy Rate 12 Mo. Absorption Units

Rental Survey by City CoStar Property® - Analytic

Sonoma

Santa Rosa

Survey

Vacant Units

Email: drendino@mac.com ! www.THESONOMACOUNTYINCOMEPROPERTYREPORT.com

1/27/17, 9(22 AM

Rohnert Park

5-Year Avg Inventory in Units Leasing Units Survey

Survey 5-Yearin Avg 5-Year Avg Inventory Units Leasing Units Survey

Vacant Units161 Existing Units

4,431602 Existing Units 4,286 Vacancy 20,024 19,333 Vacant Units 44 Vacant 43 Existing Units Units 252Vacancy Rate

601

Survey 5-Year Avg 5-Year Avg Inventory inSurvey Units Leasing Units

4.1%

3.8% 12 Mo. Const. Starts Vacancy Rate 3.2%

0 47Starts 3.2% 12 Mo. Const. 187 12 Mo. Const.4.2% 145 Vacancy Rate 3.5% Vacancy Rate 3.4% Starts

123

52 Under Construction 12 Mo. Absorption Units 68

0133 Under 53 12 Mo. Absorption UnitsConstruction -4

12 Mo. Deliveries Rents

1/27/17, 9(14 AM CoStar Property® - Analytic

Survey

Rents5-Year Avg

148

Survey

1992 Under 156 12 Mo. Absorption Units Construction 57

53 12 Mo. Deliveries

Rents5-Year Avg

Survey

5-Ye

96

98 12 Mo. Deliveries

Rents 5-Year Avg

Survey

Studio Asking Rent

$1,314

$1,279 Sales Studio Asking Rent

$873

Past Year 5-Year Avg $787 $792 Sales Studio Asking Rent

Year $801 StudioPast Asking RentSales 5-Year Avg $930

1 Bed Asking Rent

$1,598

$1,426 Sale Price Per $1,329 Unit 1 Bed Asking Rent

$309,385 $258,590 $1,139 Sale Price Per Unit 1 Bed Asking Rent $964

$240,766 $170,935 $912 Per Unit 1 Bed Asking RentSale Price $1,440

2 Bed Asking Rent

$1,893

2 Bed Asking Rent $1,627 $1,658 Asking Price Per Unit

$1,404 Asking Price Per Unit 2 Bed Asking $204,748 $143,149 $365,000 $220,294 2 Bed Asking Rent $1,519 $1,366 Per Unit RentAsking Price $1,641

5-Ye

P

$

$

3+ Bed Asking $1,622 $1,472 Sales Volume (Mil.) 3+ Bed Asking $287 $588 $1,714Rent Sales Volume (Mil.) $204 $292 3+ Bed Asking Rent $1,153 $1,135 Sales Volume (Mil.) Rent $1,852 Area Street Address # Units # Bldgs Listing Price Listing Date Sale Date Selling Price 0.3%11/23/16 0.3% Cap Rate 5.2% 0.5% Concessions 5.4% 6.0% Concessions 0.5% 0.4% Cap2Rate 779,950 4.4% Concessions 0.4% Cap Rate 0.8% Cotati/Rohnert Park 434-436 MatteriConcessions Cir 2 3/13/17 761,700 2017 will show a leveling of values, as it is Cotati/Rohnert Park 250 Arlen Dr 4 1 900,000 1/27/17 4/14/17 849,888 unlikely that the Fed will further reduce Cotati/Rohnert Park 1262 Southwest Blvd 4 1 725,000 3/1/17 4/28/17 796,000 Area Street Address # Units # Bldgs Listing Price Listing Date Sale Date Selling Price Cotati/Rohnert 434-436 Prince MatteriAve Cir 779,950 11/23/16 3/13/17 1,245,000 761,700 Healdsburg Park 515-517 22 22 1,195,000 1/11/17 3/23/17 rates and the rental market will likely Charts Charts Charts Charts Asking R Asking Rent Per SF Cotati/Rohnert Park 250Badger Arlen Dr 900,000 1/27/17 4/14/17 849,888 Petaluma West 143-145 Hill Ln 24 21 825,000 10/12/16 4/26/17 765,000 remain relatively flat. While we will Cotati/Rohnert Park 1262432 Southwest 725,000 3/1/17 4/28/17 796,000 Petaluma West Fair St Blvd 34 11 999,000 3/28/17 5/25/17 924,000 continue Vacancy to see many sellers “cashing-out” Healdsburg 515-517 Prince1Vacancy Ave 1,195,000 1/11/17 3/23/17 1,245,000 & Availability Vacancy & Availability Russian River 14573 Canyon Rd 22 12 500,000 12/15/16 4/15/17 480,000 & Availability Vacancy & Availability Petaluma West 143-145 BadgerDe HillElysees Ln 825,000 10/12/16 4/26/17 765,000 in favor of markets with greater perceived Russian River 9308-9306 Champs 22 12 525,000 12/20/16 4/4/17 440,000 Petaluma West 432 Fair St Vacancy Rate3 999,000 3/28/17 5/25/17 924,000 Vacancy4/29/17 Rate Vacancy Rate Vacancy Rate upside potential, there are still enough Russian River 14632 Canyon 1 Rd 2 11 469,000 3/27/17 453,000 Russian River 14573 Canyon 1 Rd 2 1 500,000 12/15/16 4/15/17 480,000 Russian River 17550 Hwy 116 2 1 399,000 4/14/17 6/9/17 395,000 Vacancy By Unit Mix investors who continue Vacancy By Unit Mix Vacancy By Unit to Mixview our area Vacancy By River Unit Mix 9308-9306 Champs De Elysees Russian 2 1 525,000 12/20/16 4/4/17 440,000 Santa Rosa-Northeast 1246-1244 Mcconnell Ave 2 1 575,000 12/15/16 6/7/17 550,000 Russian River 14632 Canyon 1 Rd 2 1 469,000 3/27/17 4/29/17 453,000 as a value play compared to the San Occupancy Rate Occupancy Rate Occupancy Rate Occupancy Rate Santa Rosa-Northeast 8-10 Portola Ct 22 11 699,000 2/9/17 3/30/17 705,000 Russian River 17550 Hwy 116 399,000 4/14/17 6/9/17 395,000 Francisco and Silicon Valley areas. Santa 923-925Mcconnell Cherry St Ave 22 11 719,900 2/14/17 3/27/17 736,500 Santa Rosa-Northeast Rosa-Northeast 1246-1244 575,000 12/15/16 6/7/17 550,000 QualifiedRental buyersRates will continue Santa 1017 11 575,000 4/8/17 5/3/17Per Unit 575,000 Rental Rates22Per Unit Rental Rates Per Unit to find Santa Rosa-Northeast Rosa-Northeast 8-10 Beaver Portola St Ct 699,000 2/9/17 3/30/17 705,000 Rental Rates Per Unit Santa 919-921 22 11 669,000 4/26/17 6/9/17 700,000 suitable purchase inventory and sellers Santa Rosa-Northeast Rosa-Northeast 923-925 Benton Cherry St St 719,900 2/14/17 3/27/17 736,500 Asking Rent Per Asking Rent Per Unit Asking Rent Per Unit Asking Rent Per Unit Santa 1033 St #A 22 Unit 21 875,000 5/10/17 6/27/17 867,000 Santa Rosa-Northeast Rosa-Northeast 1017Clark Beaver St 575,000 4/8/17 5/3/17 575,000 will be able to sell, providing that the Santa Rosa-Northwest Rosa-Northeast 919-921 Benton St 669,000 4/26/17 6/9/17 700,000 Santa 2355 Heidi PlAsking 42 Unit 11 790,000 2/17/17 4/5/17 770,000 Rent Per by Bedroom Asking Rent Per Unit by Bedroom Rent Per Unit by Bedroom property Asking is listed in accordance with the Asking Rent Per Unit by Bedroom Santa Rosa-Northwest Rosa-Northeast 1033 Clark St #A 875,000 5/10/17 6/27/17 867,000 Santa 395 Brockhurst Dr 22 12 575,000 5/4/17 6/12/17 619,000 competition and properly marketed. As I Santa Rosa-Northwest 2355 Heidi Pl 4 1 790,000 2/17/17 4/5/17 770,000 Santa Rosa-Southeast 424 Earle St 2 1 509,000 7/27/16 3/22/17 500,000 Rental Rates Per SF Rates22Per SF21 Rental Rates Per SF Santa Rosa-Southeast Rosa-Northwest 395 Brockhurst Dr 575,000 5/4/17 6/12/17 619,000 Rental Rates Per SF have previously reported, millennial Santa 403-405 Earle Rental St 620,000 8/6/16 4/12/17 610,000 Santa Rosa-Southeast Rosa-Southeast 424 Earle St 509,000 7/27/16 3/22/17 500,000 Santa 4200 Sonoma Hwy 22 SF 21 799,000 12/6/16 3/17/17 765,000 buyers have become a significant factor in Asking Rent Per SF Asking Rent Per Asking Rent Per SF Asking Rent Per SF Santa Rosa-Southeast 403-405 Earle St 2 2 620,000 8/6/16 4/12/17 610,000 Santa Rosa-Southeast 20 Knolls Ln 3 1 960,000 3/10/17 5/30/17 960,000 Absorpti the Sonoma County investor market. Absorption Units Santa Rosa-Southeast 4200 Sonoma Hwy 2 2 799,000 12/6/16 3/17/17 765,000 Santa Rosa-Southeast 2240-2244 Mesquite Dr 2 2 675,000 3/11/17 4/18/17 685,000 Santa Rosa-Southeast 20 Knolls LnConcessions3 1 960,000 3/10/17 5/30/17 960,000 Concessions Concessions While cash flow and returns on investment Concessions Santa Rosa-Southeast 957 Frazier Ave 2 2 499,000 5/5/17 6/16/17 560,000

3+ Bed Asking Rent

$1,970

2-4 Unit Sales YTD

Santa Rosa-Southeast

Santa Santa Rosa-Southwest Rosa-Southeast Santa Santa Rosa-Southwest Rosa-Southwest Santa Rosa-Southwest Santa Rosa-Southwest Santa Santa Rosa-Southwest Rosa-Southwest SantaSebastopol Rosa-Southwest Sebastopol Sebastopol Sebastopol Sonoma Sonoma Sonoma Sonoma Sonoma Sonoma Sonoma Sonoma Sonoma Sonoma Sonoma Sonoma Sonoma Sonoma

2240-2244 Mesquite Dr 623 DuttonAve Ave 957NFrazier 1323-25 DuttonAve Ave 623 N Dutton 1645 Beachwood #A 1323-25 DuttonDr Ave 1591Beachwood BeachwoodDrDr#A 1645 8284 View Dr 1591 Valley Beachwood Dr 8284 ValleyWillow View Dr 7415-7417 St 7415-7417 Willow 17333-17335 Malek St Ln 17333-17335 Malek 18176 Arnold Dr Ln 18176 Arnold Dr 147-149 W Agua Caliente Dr 147-149 Agua Caliente Dr 800WVerano Ave 800 Verano Ave 303 Maldonado Ave 303 Maldonado Ave 17000 Sonoma Hwy 17000 Sonoma Hwy 933-931 Center St 933-931 Center St

2

22 22 22 22 22 22 22 22 22 22 22 2 2 2 2 2

2

22 12 21 12 11 11 11 21 12 21 12 1 1 1 2 2

675,000

495,000 499,000 565,000 495,000 469,000 565,000 485,000 469,000 625,000 485,000 625,000 629,000 629,000 395,000 395,000 679,000 679,000 495,000 495,000 499,000 499,000 655,000 655,000 675,000 675,000 960,000 960,000

3/11/17

8/16/16 5/5/17 2/27/17 8/16/16 3/13/17 2/27/17 5/17/17 3/13/17 10/24/16 5/17/17 10/24/16 4/5/17 4/5/17 3/9/16 3/9/16 1/28/17 1/28/17 2/20/17 2/20/17 3/2/17 3/2/17 3/9/17 3/9/17 4/1/17 4/1/17 4/13/17 4/13/17

4/18/17

5/5/17 6/16/17 5/12/17 5/5/17 4/4/17 5/12/17 6/22/17 4/4/17 3/15/17 6/22/17 3/15/17 5/3/17 5/3/17 3/6/17 3/6/17 5/25/17 5/25/17 6/1/17 6/1/17 4/21/17 4/21/17 5/18/17 5/18/17 6/22/17 6/22/17 5/31/17 5/31/17

685,000

460,000 560,000 585,000 460,000 475,000 585,000 495,000 475,000 599,000 495,000 599,000 630,000 630,000 350,000 350,000 600,000 600,000 451,725 451,725 445,000 445,000 640,000 640,000 640,000 640,000 940,000 940,000

5+ Unit Sales

are important considerations, premiums are being paid for walkable downtown locations. While older generations tend to favor “bread and butter” units, the younger generation tends to place value on mixed use, live/work and buildings with unique architectural characteristics. Emotional connection is equally as important as the income and expense statement and savvy marketing will be rewarded. OUR NEW BROKERAGE UPDATE

As many of you are aware, Erika and I Area Street Address # Units # Bldgs Listing Price Listing Date Sale Date Selling Price have purchased a RE/MAX franchise Santa Rosa-Southeast 3750 Santa Rosa Ave 22 1 1,950,000 10/6/16 4/10/17 1,700,000 Cotati/Rohnert Park 6470 Country Club Dr 12 4 3,475,000 11/14/16 3/3/17 3,350,000 http://property2.costar.com/Property/Results/Analytics/Summary/ResultsSummary.aspx?__formDoRedirect=TABC early thishttp://property2.costar.com/Property/Results/Analytics/Summar year. Our new company name is http://property2.costar.com/Property/Results/Analytics/Summary/ResultsSummary.aspx?__formDoRedirect=TABCHART&bw=1376&bh=759 Page 1 of http://property2.costar.com/Property/Results/Analytics/Summary/ResultsSummary.aspx?__formDoRedirect=TABCHART&bw=1376&bh=759 Page 1 of 1 Petaluma West 418-422 Upham St 6 3 2,600,000 1/20/17 5/23/17 2,479,000 RE/MAX MARKETPLACE and we are Penngrove 10435 Old Redwood Hwy 9 9 2,500,000 3/17/17 4/22/17 2,350,000 ways to improve the appeal of a property and it is important to make sure that units are looking their best before going on the market. 5+ UNIT SALES Sonoma County 5+ unit sales saw a year-overyear increase of 26.31% by the end of the 2nd quarter of 2017. During this period, there were only 16 units sold, with an average of 102 days on the market. As of this date, there are 11, 5+ unit buildings listed for sale in Sonoma County. Only 4 of these properties are under contract, with average days on the market of 61 and an average list price of $3,035,750. While it is always interesting to track this data, there has not been adequate inventory over the last several years to draw reasonable

conclusions on market value trends. However, it is reasonable to assert that the current inventory level continues to favor sellers and it is likely that this trend will continue through the 3rd quarter of 2017. SALES MARKET PROJECTION As previously stated, it is my opinion that the reason for the year to date gains is because of the Fed’s decision to lower interest rates. There is not any evidence that cap rates have changed in Sonoma County, which provides further evidence that a ½ point change in interest rates could make or break our market. The list prices of the properties currently under contract indicate that we will see significant rd gains posted by the end of the 3 quarter of 2017. It is my opinion that the fourth quarter of

occupying leased space in the Petaluma Marina. We recently closed escrow on our permanent location in Downtown Cotati and are in the process of completing beautiful renovations. Stay tuned for an invite to our Grand Opening/Salsa party, which we are anticipating to have in the fall. We are grateful to each and every one of you who has made this possible and look forward to celebrating with you. Please visit: SONOMACOUNTYHUB.COM DEAR READER,

If you are planning on selling your property sooner or later, Erika and I would appreciate the opportunity to provide you with an obligation-free comparative market analysis and marketing proposal.


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Search Criteria Summary For Sale vs. Sold Avg. Price per Sqft Days on Market - Sold/List Price% Avg. Price For Sale & Sold Months of Inventory Search Criteria Summary Days on Market - Sold/List Price% Avg. Price For Sale & Sold For Sale Months Inventory Avg. vs. of Sold Price per Sqft Days on Market - Sold/List Price% Avg. Price For Sale & Sold Months of Inventory Quick Guide

Average for Sale vs Sold

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Caliente SelectAgua a City /s with CTRL key Agua Annapolis Caliente Bloomfield Annapolis Bodega Bloomfield

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Select a ZIP /s with CTRL key Bodega ZIP 94503 Select a ZIP /s with CTRL key ZIP 94515 ZIP 94503 ZIP 94556 ZIP 94515 ZIP 94558 ZIP 94556 ZIP 94558 Select Property Types:

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All Residential Prop Select Property Types: All SFH All Residential Prop SFH - Attached All SFH SFH - Detached SFH - Attached SFH - Select Detached REO/Short Sale Properties: All Properties SelectREO REO/Short Sale Properties: Short Sale All Properties REO Non REO,Non Short Sale Short Sale Select Lot SizeSale (Acres): Non REO,Non Short Curnt vs. Same Month Curnt vs. Same Month All Lot Sizes Curnt vs. Prev Month 1 Yr Ago Curnt vs. Same Qtr 1 Yr Ago Curnt vs. Prev Month 1 Yr Ago Select0.00 Curnt vs. Same Qtr 1 Yr Ago 0.25 Lot -Size (Acres): - 0.50 Curnt vs. SameJun. Month All Jun. May. %CurntJun. Jun.Month% Apr. 17 to Apr. 16 to % vs. Same Sizes Jun. May. % Jun. %Lot0.25 Apr. 17 to Apr. 16 to % Curnt 17 vs. Prev 117 Yr Ago16 Same Ago 0.75 17Month Change 17 16 Change Curnt Jun. Jun. 16Ago Change Curnt 17 vs. Prev 1 Yr Ago vs.17 Same Qtr 1 Yr 17Month Change Change Jun. 17 Qtr 1 Yr Jun. 16 Change 0.00Curnt -0.50 0.25-vs. 0.25 - 0.50 Jun. May. % Jun. Jun. % Apr. 17 to Apr. 16 to % Avg. Active Jun. 2601 May. 2824%-7.9%Jun. 2601 Jun. 2348%10.8% Apr. 17 to 3166 Apr. 16 to 2472%28.1% Avg. Active Select a Price 771 780 -1.2%17 771 Change 619 24.6% 785Range: 618 27% 17 Change 16 Jun. 17 Jun. 16 Change Price 17 0.50 - 0.75 17 Change 17 16 Change Jun. 17 Jun. 16 Change Price 17 Avg. Sold Avg. Avg. ActiveSold to No Limit $0 785 Avg. Active -100% 2601 0 2479 0 0 N/A -1.2% 771 632 780 709 619 24.6% -7.9% 10.8% 28.1%0.9% 2601 2824 2348 3166 2415 2472 2436 -10.9% 771 632 608 3.9% 636 618 27%603 5.5% PricePrice Select a Price Range: PricePrice

Avg. Sold Price

o Limit

ge Range:

No Limit Range:

632 709 -10.9% Date

For Sale

Avg. Sold to No $0 Limit Date 5.5% 632 608 3.9% 636 603 -100% 24796/17 4/16 5/16 6/16 7/16 8/16 9/16 10/16 11/16 12/16 1/17 2/17 3/17 4/170 5/17 Price For Sale 16 20 19 24 27 Select 26 Square 30 Footage 26 Range: 20 18 10 12 16 18 15 New Listing to Sold

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ate te 0 - No Limit 0 - No Limit 0 - No Limit 0 - No Limit 0 - No Limit 0 - No Limit 0 - No Limit 0 - No Limit

4/16 05/16 6/16 7/16 8/16 9/16 10/16 11/16 0.9%1/17 2/17 3/17 4/17 5/17 6/17 0 N/A 2415 243612/16 5 8 8 5 4 4 7 5 4 2 6 9 9 9 8 0

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2677 2469 2348 2698 2506 1944

Months of Inventory (Closed Sales)

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Sonoma Duplex 2 Detached Homes $575,000

Date 4/16 5/16 6/16 7/16 8/16 9/16 10/16 11/16 12/16 1/17 2/17 3/17 4/17 5/17Date 6/17 4/16 5/16 6/16 7/16 8/16 9/16 10/16 11/16 12/16 1/17 2/17 3/17 4/17 5/17 6/17 Obtaining for 20your SFR achieve extraordinary results and 0 price No New Listing the highest 11 18 possible 12 15 10 12 22 8 Limit 7 3 7 9 11 sellers 15 5 For Sale 16 20 19 24 27 26 30 26 18 10 12 16 18 Sale 15 For 5 8 8 5 4 4 7 5 4 2 6 9 9 9 8 Footage Range: Sold 10 8 7 11 Select 9 Square 9 5 7 9 2 5 11 7 8 6 New Listing 11 careful 18 12 15 10 12 22 8Our 7 market 3 7 9 11 New 15 Listing 5 for the opportunity property takes consideration. hope to we 0 5 3 0 3 show 1 4 you 3 how 0 3 2 5 3 3 2 to Pended 7 10 10 70 11 5 8 No Limit 4 7 4 10 6 7 9 12 Sold 10 8 7 11 9 9 5 7 9 2 5 11 7 8Sold 6 2 0 0 4 2 1 0 0 3 1 1 2 1 1 0 Months of Inventory (Closed analysis includes an “as is” value, as well as can do the same for you. As usual, we are a 1.6 2.5 2.7 2.2 2.9 3.7 2 7 1.1Pended 2.5 Pended 7 10 10 7 11 53 8 46 7 4 2.2 10 9 6 9 2.3 12 2.3 0 0 3 3 3 0 0 3 2 3 0 1 1 1 2 Sales) Months of Inventory (Closed Months of Inventory (Closed Months of Inventory 1.6 2.5and 2.7 fully 2.2 3repaired 2.9 6 3.7 2.2 9 2 1.1 2.3 phone 2.3 2.5 partially repaired values. We call or email have 8 8away 1.3 2if you 4 7 5 any 1.3 2 6 4.5 9 9 8 Sales) 2.3 2 1.9 3.4 Select 2.5 a Date 5.2 Range: 3.8 6.5 2.9 4.5 1 2 Sales) 2.3 2 1.3 2.5 (Pended Sales) Months of Inventory Apr. 2016 -3.8 Jun. 2017 Months Absorption Rate 2.3 2 1.9 3.4 2.5 5.2 6.5 2.9 4.5 1 2 2.3 2of Inventory 1.3 provide a(Closed comprehensive list of recommended questions. As5 seasoned agents we will 2 0.7 6 9 9 9 4 8 2.7 1.7 1.3 4 7 1.7 (Pended Sales) 62.5 40 36.8 45.8 33.3 34.6 16.7 26.9 45 11.1 50 (Pended 91.7 43.8 44.4 40 Sales) Sales) % Select a Custom Date Range Absorption Rate (Closed Rate - 25 months): Absorption Rate (Pended 62.5 40 36.8 45.8 33.3(634.6 16.7 26.9 45 11.1help 50 91.7 Absorption 43.8 44.4 40 (Closed repairs competitive bids that15.4 will always have best at heart. 40your 0 0 80 interests 50 25 0 0 75 50 16.7 22.2 11.1 11.1 0 Sales) % and obtain 43.8 50 52.6 29.2 40.7 19.2 26.7 35 22.2 100 50 43.8% 50 80 Sales) Sales) % Jan. 2017 Begin Date Absorption Rate (Pended Absorption Avg.achieve Active Price 43.8 632 possible 619 40.7 623 19.2 658return 656 15.4 695 743 22.2812100756 50 744 805 780 771 50 52.6 29.2 26.7 35 43.8 80650 Rate 80(Pended you the 599 best 0 0 37.5 60 75 0 0 60 50 150 0 11.1 11.1 11.1 25 Jun. 2017 Sales) % End on Date your Sales) % Avg. Sold Price 615 585 608 719 596 649 595 577 618 718 622 652 555 709 632 Avg. Active Price 632 619 623 658 656 695 743 812 756 744 806 805 780 771Price Avg. Active 2677 2469 2348 2698 2506 1944 2573 2965 2450 5087 3621 3487 4010 2824 2601 investment. If599 a 299 repaired we Avg. Sq. Ft. Price (Sold) 321 267 strategy 275 Bedrooms 264 285is pursued, 285 299 No320 385 250 330 302 338 323 Limit David Rendino Avg. Sold Price 615 585 608 719 596 649 595 577 618 0 -718 622 652 555Avg. 709Sold 632 Price 2436 0 0 2433 1395 2830 0 0 2552 824 1550 2525 2350 2479 0 Sold/List Diff. % 102 100 102 100 99 101 100 100 99 96 94 98 97 97 103 Avg.will Sq. Ft.oversee Price (Sold) 299 repairs 321 267 275 264 beginning 285 285 299 to 320 end. 385 250 330 Avg. 302 Sq. 338 323 (Sold) all from We Ft. Price 224 0 0 369 272 204 0 0 271 206 0 416 307 375 0 Full Baths 0 - No Limit Sold/Orig LP Diff. % 101 99 102 98 99 99 100 95 101 90 93 95 95 97 96 Sold/List Diff. % 102 100 102 100 99 101 100 100 99 96 94 98 97 97 103 Direct: 696-3742 Sold/List Diff. % 96 0 (707) 0 93 95 98 0 0 99 103 100 93 94 95 0 Days on Market 80 75 53 67 65 our 77 118 50 34 123 153 126 54 58 35 have both and Sold/Orig LPsuccessfully Diff. % 101 99 helped 102 98 99 99 Baths 100 multi-unit 95 101 0 - 90 93 95 95 97 LP96 Half No Limit Sold/Orig Diff. % 95 0 0 93 92 89 0 0 99 89 100 93 104 97 0 Pended

o Limit

art

5+ Units Average Price Sales vs Sold

2-4 Unit Average Price Sales vs Sold

Learn more about Trendgraphix products Learn more about Trendgraphix products Direct: (707) 696-3742 ! Español: (707) 318-1851 ! drendino@mac.com ! www.THESONOMACOUNTYINCOMEPROPERTYREPORT.com Show Chart Email | Email: Print | Save Graph | Post-2-Web Show Chart Email | PrintMonths | Save Graph | Post-2-Web Days on Market - Sold/List Price% Avg. Price For Sale & Sold of Inventory

Email | Sale Print | Post-2-Web For vs. |Sold Save Graph Avg. Price per Sqft

Select a Custom Date Range (6 - 25 months): Jan. 2017

Begin Date

Jun. 2017

End Date

Bedrooms

0 - No Limit

Full Baths

0 - No Limit

Half Baths Year Built

0 - No Limit 0 - No Limit

Months of Inventory (Pended Sales)

Avg. Active Price

2573

2965

2436

0

0 2433 1395 2830

0

0

2552

824 1550 2525 2350 2479

0

224

0

0

369

272

204

0

0

271

206

0

416

307

375

0

Sold/List Diff. %

96

0

0

93

95

98

0

0

99

103

100

93

94

95

0

Sold/Orig LP Diff. %

95

0

0

93

92

89

0

0

99

89

100

93

104

97

0

Days on Market

52

0

0

112

80

118

0

0

92

222

38

141

33

58

0

2436

0

0 2141 1395 2830

0

0

1200

824 1550 2525 2350 2479

0

Avg. Sold Price

Avg. Sq. Ft. Price (Sold)

Median

2450 5087 3621 3487 4010 2824 2601

In Escrow

NE Santa Rosa Pride of Ownership Duplex 3 bed/2.5 Units $889,900

Median 580 590 588 708 600 665 528 580 580 718 565 610 480 635 630 Days on Market 80 75 53 67 65 77 118 50 34 123 153 126 54Days 58on Market 35 0 0 data 112available 80 at 118 0 June 2017. 0 92reports 222 presented 38 141 33 on58 0 * All reports are published July52 2017, based on the end of All are based data supplied by Show Chart0 - No Limit Year Built Median 580 590 588 708 600 665 528 580 580 718 565 610 480 635 630 BAREIS MLS. Neither the Association nor guarantees is in anyway for its824 accuracy. maintained by the Association Median 2436 0 its MLS 0 2141 1395 or2830 0 responsible 0 1200 1550 Data 2525 2350 2479 0 * All reports are published July 2017, based on data available at the end of June 2017. All reports presented are based onor data supplied its MLS may by not reflect all real estate activities in the market. Information deemed reliable but not guaranteed. BAREIS MLS. Neither the Association nor its MLS guarantees or is in anyway responsible for its accuracy. Data maintained by the Association * All reports are published July 2017, at the end June 2017.Information All reports presented based on data supplied by Terms of Use Agreement or its MLS may not based reflecton alldata realavailable estate activities in of the market. deemed are reliable but not guaranteed. * All reports are published July 2017, based on data available at the end of June 2017. All reports presented are based on data supplied by Show Chart BAREIS MLS. Neither the Association nor its MLS guarantees or is in anyway responsible for its accuracy. Data maintained the Neither Association BAREISby MLS. the Association nor its MLS guarantees or is in anyway responsible for its accuracy. Data maintained by the Association or its MLS may not reflect all real estate activities in Terms the market. Information deemed reliable but not guaranteed. or its MLS may not reflect all real estate activities in the market. Information deemed reliable but not guaranteed. of Use Agreement

Our services include

Terms of Use Agreement Leasing of available units

Terms of Use Agreement

Tenant screening Efficient rent collection 24 hour/7 days a week availability for emergencies http://www.gotrendvision.com/Member/FtReport.aspx

Serve all necessary legal notices

Page 1 of 1 When is the last time you reassessed Payment of monthly bills on.com/Member/FtReport.aspx Page 1 of 1 http://www.gotrendvision.com/Member/FtReport.aspx rental rates? Supervise property maintenance and repair

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sion.com/Member/FtReport.aspx

We can help you get your property in shape to today’s standards and set the rental price right. Our goal is to provide property owners with the greatest possible return on their investment.

1st month’s management fee FREE Just mention this newsletter

Please call (707) 800-7880 Sean@RoundbarnPM.com

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In Escrow NW Santa Rosa-JC Area 4-Plex for Sale $998,000

www.RoundBarnpm.com FANNIE MAE NEWS, YOU CAN NOW GET CASH OUT SOONER THAN YOU THOUGHT! Loan Update

Just Listed

For properties listed for sale in the previous six months, the cash-out refinance rules have now changed. The information below applies to all occupancy type homes: investment, primary, and second homes Old rule: You had to wait 6 months after taking your house off the market before you could take cash out. New rule: You can take cash out day 1 after pulling your house off the market. Delayed financing cash-out rule change. If you bought a home using all cash, and now want to recover your investment and replenish the account you used to buy the home, you can a lot faster.

Old rule: You had to wait 6 months after purchasing your home before you could take any cash out of the home. Marlon Flores New rule: You can take cash out day 1 after you purchased the home to recuperate your cash Mortgage Consultant investment. NMLS ID #779895

Remember that taking cash out of your home with a refinance is tax free. Call me to discuss your specific scenario and ways to improve your financial situation.

Marlón Flores • 707-981-4152 • mflores@summitfunding.net

Rohnert Park Commercial Building-Street Frontage Sq Ft: 1405 Sq Ft $475,000


David Rendino Erika Rendino

Income Property Specialists DRE License #01252035/01465104

RE/MAX MARKETPLACE Each office independently owned and operated

755 Baywood Dr Ste 201 Petaluma, CA 94954 Direct: (707) 696-3742

The Sonoma County Income Property Report 2nd Quarter 2017

This newsletter is geared towards Sonoma County

Inside this edition

multi-unit property owners. The purpose is two-fold:

Rental Market

1

Rent Control Update

1

1.

To inform investors on the current Sonoma County

rental market trends.

3Q Projection

1

County sales market for all multi-unit properties.

2-4 Unit Sales

1

3. To provide information about the overall real estate

5+ Unit Sales

2

market outlook for Sonoma County.

Sales Market Projection

3

Loan Update

3

Mortgage/Property Management Corner

3

2. To provide important information on the Sonoma

Whatever your needs are, always make sure to work with an expert that has vast experience and a solid track record in this challenging market. There is too much at stake to use someone who requires on the job training.

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David Rendino Realtor

Nosotros tambien

Direct: (707) 696-3742 "Income Property Specialist "Accredited Commercial Professional "Certified Distressed Property Expert "Single Family Residence Professional

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WWW.RENDINOSREALESTATE.COM

Erika Rendino (707) 318-1851

derendino@gmail.com

Sonoma County Income Property Report Q2 2017  

Sonoma County Income Property Report Q2 2017

Sonoma County Income Property Report Q2 2017  

Sonoma County Income Property Report Q2 2017