Sonoma Housing Bubble

Pulling the cork out of Sonoma's bubbly housing foolishness

Sunday, March 26, 2006

Sliding Sales for Sonoma


Recent Home Sales
(Sonoma Valley)

Week ending:
Sunday, March 26, 2006 = 6
Sunday, March 27, 2005 = 9

Down 33%

Sonoma
350 East Watmaugh Road
$1,400,000, 3 bdrms, 3598 sq. ft., 1986

19165 Junipero Serra Drive
$575,000, 2 bdrms, 1408 sq. ft., 1983

400 Schuman Court
$697,000, 4 bdrms, 2154 sq. ft., 1980

46 Sunnyside Avenue
$455,000, 2 bdrms, 923 sq. ft., 1949

53 Vineyard Circle
$365,000, 2 bdrms, 1320 sq. ft., 1974

759 West Spain Street
$416,000, 2 bdrms, 989 sq. ft., 1980


New Price Reductions: (newly added to the reduced listings)

17350 MALLARD DR, Sonoma, CA 95476
Price Reduced: 03/24/06 -- $1,439,000 to $1,399,000
Days on Market: 23
Total Reduction: $40k

Zillow sez: $995,614
Value Range: $856,228 - $1,085,219
97 value $370k
No Sale History Available
Tax $5,705
Tax Value $521,822


492 LA QUINTA LN, Sonoma, CA 95476
Price Reduced: 03/21/06 -- $649,000 to $629,000
Days on Market: 33
Total Reduction: $20k

Zillow sez: (wow is Zillow ever off by MILES on this one)
$821,804
ummm...zillow sez this is a condo...you know, the things that had a big fat 0 for sales last month? If people are believing this valuation, I think I found the problem.
Value Range: $706,751 - $895,766
97 value $290k
Sale History
07/08/2002: $439,000
Tax $5,527
Tax Value $456,152

402 VERANO AVE, Sonoma, CA 95476
Price Reduced: 03/20/06 -- $585,000 to $570,000
Days on Market: 52
Total Reduction: $15k

Zillow sez: $610,886
Value Range: $525,362 - $665,866
Sales History
07/03/1997: $153,000
Tax $2,469
Tax value $175,266

315 BAINES AVE, Sonoma, CA 95476
Price Reduced: 03/15/06 -- $519,000 to $495,000
Days on Market: 57 (this house has been on the market much longer than this. An obvious relisting. This is a manufactured home that has the look of a double wide mobile home and they still want round about a half a million dollars.)

zillow sez: $478,829
Value Range: $411,793 - $521,924
Sale History
06/15/1999: $179,000
03/26/1999: $130,000
01/23/1996: $112,000

(now this is probably more appropriate pricing)
Tax $2,749
Tax value $201,323

16799 ESTRELLA DR, Sonoma, CA 95476
Price Reduced: 03/14/06 -- $1,095,000 to $1,049,000
Days on Market: 61 (I am pretty sure this is a re-list as well. I could have sworn this house was for sale back on Halloween and we were trick or treating and discussing why they thought their tract home should sell for over a million dollars? we all agreed that it was probably because they thought people think they should pay a million dollars if there are grape vines nearby.)
Total Reduction: $46k

zillow sez: $905,349
Value Range: $778,600 - $986,830
No Sale History Available
97 value $200k
Tax $3,582
Tax value $272,308

18681 MANZANITA RD, Sonoma, CA 95476
Price Reduced: 03/16/06 -- $499,000 to $449,000
Days on Market: 192
Total Reduction: $50k

zillow sez: $503,776
Value Range: $433,247 - $549,116
97 value $96k
No Sale History Available
Tax $1,645
Tax value $98,607

and now presenting... the only property in Sonoma priced under $300k. It is a condo, and of course it has been sitting and languishing on the market for 248 days and even priced just above 300k it wasn't selling. hmmm... something tells me this market must be changing. Ya think?

132 W AGUA CALIENTE RD, Sonoma, CA 95476
Price Reduced: 03/21/06 -- $309,500 to $299,900
Days on Market: 284
Total Reduction: $9,600 Did you see this...? On the market for 284 days and it only warrants a reduction amounting to less than 10k? oh brother....

zillow sez: (zillow hasn't caught on to the changing market yet) $311,416
Value Range: $267,818 - $339,443
Sale History
05/01/1996: $70,000
Tax $1,511
Tax value $79,038


Sonoma County MLS listings: 1766
(ziprealty)

Sonoma Valley MLS listings: 238
(gmac mls)

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