So many of you have called and emailed wondering if Windsor home prices are going to continue to decline, and when we can anticipate a recovery. Based upon the information in the Press Democrat, and what Sonoma State had to say regarding 18 months plus decline in the market, many of you are concerned with your local Windsor Property.
It is true that Windsor has seen the 3rd largest decline in value percentage (-17.5%) in Sonoma County, behind Glen Ellen, and Southwest Santa Rosa.
Keep in mind all statistical information delivered the county is general for the county, as well as, each town. I don't believe it's fair to say that all neighborhoods in a particular town have been impacted equally.
Lake Wood Hills Estates vs. Vintana and West Windsor vs. the Foothills. It really depends on the specific area of Windsor to determine its true impact on value.
It is a fact that all neighborhoods in Windsor have declined in value, just not at the same percentage. So make sure that when it comes time for you to sell your home, you have a full analysis done for your area to get a better feel for fair market value regardless of what the newspaper is telling everyone. Remember, 87% of buyers have buyer representation. They use an educated agent that knows what homes are selling and what fair market values are. The buyer's agents are the ones that can make sure that a fair value is given to a particular home making sure the offer coming in to buy a home is realistic to its value.
That's why - today in February, homes are still selling. If the home shows well, is located in a desirable area, and more importantly is priced at or just below fair market value, it sells fast. We are still seeing multiple offers - honest. So don't let the newspaper kid you that all is lost - make sure to get the facts.
The recovery time as a whole for Windsor compared to the rest of the county in my opinion looks good. When? The easy answer is 11 months - Jan, '09.
I believe that because Windsor offers (as a whole), a large percentage of homes priced between $400,000 - $600,000 (the county median range), we stand to target the largest base of interested buyers. With measure B passed, and a community that is dedicated and driven to provide a safe desirable place to live and thrive, we will see a faster turn around than anyone else in the county.
Please feel free to contact me directly to discuss specifics. I could write all day on economic concerns that could adjust this position. Such as... Stimulus Package, Sonoma County jobs, increase in tourism, etc...
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