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Real Estate

What you can buy for the median home price of $780,000 right now in Sonoma County

in Real Estate

The Sonoma County housing market is red hot! According to the latest Press Democrat real estate report, the median home price in the county reached an all-time high of  $780,000 in May, a jump of 16.5% from the same month last year.

Despite pandemic restrictions and continuing threat of wildfires, the local real estate market seems to be bulletproof, continuing to rise while other markets fluctuate.

Bolstered by a spike in sales of million-dollar homes and a historically low interest rate, the price is welcome news for sellers and disheartening for shoppers priced out of the local market.

Continue Reading on The Press Democrat

 

Price Cut! Charming Petaluma Bungalow Has Cottage Studio

in Real Estate

PETALUMA, CA — This west side Petaluma bungalow bursting with charm hit the real estate market just eight days ago and has already had its price reduced by $50,000.

These sellers are motivated; are you? For $825,000, you’ll get a spacious two-bedroom, one-bath with 1,100 square feet of living space. The nice, large rooms have built-ins and other original 1920 details, while the back yard has a deck, a well-tended garden and a storage shed. There’s also a cute cottage studio that can be used as a home office, guest quarters or a place to meditate or do yoga.

Continue Reading on Patch

Sales of single-family homes recorded in Sonoma County for the week of March 21

in Housing

One hundred and four single-family homes sold in Sonoma County during the week of March 21 ranging in price from $197,500 to $9.4 million.

Topping our list of real estate transactions for the week was 5550 Bennett Valley Road in Santa Rosa which sold for $9,400,000 on March 26. This four bedroom, six bathroom, 5,720 square foot residence featured a fruit tree orchard, abundant vegetable gardens, mature landscaping and walking paths throughout the six-acre property.

Continue Reading on Argus Courier

Nonprofit homebuilder plans to build 400-plus affordable North Bay units

in People

A Bay Area nonprofit real estate developer recently revealed plans to build 3,000 homes in Northern California over the next five years, many of which will be for those with low incomes and the homeless. A few hundred of those dwellings are in the works for North Bay counties.

As a part of its new 2021–2025 strategic plan, MidPen Housing plans to build environmentally sustainable housing with 40% of the units dedicated to at-risk and extremely low-income individuals and families.

The Foster City-based developer of subsidized housing said it has a “robust pipeline“ of North Bay projects:

  • Casa Roseland in Santa Rosa: 75 units
  • Mahonia Glen in Santa Rosa: 99 units
  • 414 Petaluma in Petaluma: 41 units
  • Napa Pipe in south Napa: 120 units
  • Fair Haven Commons in Fairfield: 72 units

“We have an ambitious goal for very-low-income housing,” said Jan Lindenthal, chief real estate development officer, told the Business Journal.

Continue Reading on Northbay Business Journal

Santa Rosa’s Vintage Wine Estates to go public in $690M deal

in Business

Vintage Wine Estates, which has built a portfolio of over 50 wine and spirits brands from the California Wine County and the Pacific Northwest to become one of the largest U.S. wine producers, has inked an agreement with a special-purpose acquisition company to become publicly traded.

The deal between London-based Bespoke Capital Acquisition Corp. and the Santa Rosa-based porfolio that includes brands such as Viansa Sonoma and Napa Valley’s Girard is valued at $690 million plus $50 million in future potential consideration, according to the announcement Thursday.

And just before the merger agreement was signed, Wasatch Global Investors acquired a $28 million stake in Vintage.

“At some point, it takes a lot of capital to be in the wine business, and we needed more capital to continue our growth,” Vintage CEO Pat Roney told the Business Journal.

Continue Reading on Northbay Business Journal

38 Degrees North project in Santa Rosa attracts residents from Bay Area and beyond

in Housing/News
Courtesy of Kennedy Wilson
Courtesy of Kennedy Wilson

The first residents are moving into 120 apartments at 38 Degrees North, the first phase of a newly constructed southeast Santa Rosa apartment community.

It’s a project by global real estate company Kennedy Wilson (NYSE:KW). The project, located at 1020 Kawana Springs Road at Petaluma Hill Road, is targeted to tenants who want high-end apartment living with modern residences and amenities, according to the developer. About 40% of the units are leased so far.

Continue Reading on Northbaybusinessjournal.com

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