Archive for the 'Petaluma' Category
Get Your Docs In A Row
November 11th, 2009 categories: Buyer Resource, Cotati, Fountaingrove, Mortgage Rates, Petaluma, Rohnert Park, Santa Rosa
You have decided to start a Real Estate search for the Sonoma County Home of your dreams. You have not decided on a particular location, and you are considering the family atmostphere and numerous parks of Rohnert Park, the walkable and active downtown of Petaluma, the quaint small town feel of Cotati and the gorgeous views of Fountaingrove in Santa Rosa. There are some many great places to choose from in Sonoma County that it can be a little overwhelming. So what should you do in the meantime? You should Get Your Docs In A Row so your mortgage broker / lender can help you decide your price range, based on your budget, down payment amount, potential interest rates, etc.
Get Your Docs In A Row? What does that mean? Don’t you mean get my DUCKS in a row? I do not even have a pond, so how is that possible? Get your DOCS in a row silly…have all of your financial documents ready to share with your mortgage broker.
Getting Your Docs In A Row reminds me a little of Jerry Maguire. Remember when Jerry is telling Row Tidwell to lose the chip on his shoulder and be more a team player…pleading with him..”Help Me Help You…Help Me Help You!” Well even if you do not remember, it all comes down to helping your mortgage broker or lender help you. Once they have all of your necessary paperwork, they can tell you how much you qualify for, what rate you qualify for, and this information coupled with your income, down payment, credit score, anticipated closing costs, etc. will tell you how much you can spend on your new home.
The items your mortgage broker / lender will likely need are as follows:
- Pay Stubs – w-2’s, 1099’s, anything that proves your income
- Tax Returns – Your LAST 2 YEARS of tax returns
- Any Other Loan Or Credit Line Information – lender information, loan numbers, balances, monthly amounts owed, interest rates, payoff information)
- Bank Account Statements – The most recent statements showing available funds (this will prove your ability to make a down payment and pay for closing costs)
So if you have recently started your Sonoma County Home Search, or are already looking and have not yet spoken to a Mortgage Broker / Lender…what is your next order of Business? Get Your Docs In A Row and speak to a lending professional to find out how they can help you. The lending professional will help you find out what price range you should focus on, and help you figure out when is the best time to lock in a mortgage rate.
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Sonoma County Luxury Real Estate Continued…
November 5th, 2009 categories: Buyer Resource, Coastal Sonoma, Fountaingrove, Petaluma, Santa Rosa
Fountaingrove is an area of Santa Rosa that offers great views, great homes, a great lifestyle, and definitely offers Luxury Real Estate. We have written about Fountaingrove in the past, and all of their neighborhoods: Deer Meadow, Fairway Isle, Fir Ridge, LakePoint, Fountainview, Stonecreek, Miaramonte, SkyFarm, Southridge, Altruria Heights, and Bella Vista. There are many price ranges to choose from in Fountaingrove, with lot selection and view adding most of the price differences.
Fountaingrove is receiving increased attention as there was a lot of construction during 2004 – 2007. Many of the loans that were taken out on Fountaingrove Homes were Interest Only Adjustable Rate Mortgage loans, and as these loans readjust to including principal as well, there are many High End short sales and High End Foreclosures that are coming on the market NOW. These well priced homes are making a well known name is the Sonoma County Luxury Real Estate market more affordable. Do not get me wrong, even though there are foreclosures in Fountaingrove, this is a high end area, and one that should be considered if you want Sonoma County luxury homes.
Mayacama Country Club is the highest priced neighborhood in all of Sonoma County. The lifestyle here is amazing…European Style Spa, Jack Nicklaus Signature Golf Course, and sweeping views from most homesites, are just the beginning. This neighborhood was designed around the laid back Tuscan lifestyle that most people only read about; however we are able to experience right here in Sonoma County. If the price tag of Mayacama is too high to purchase, they do offer a lodging club, similar to a 5 star hotel experience, with 35 night stays in intimate casitas and villas. Mayacama is a name synonymous with Sonoma County Luxury Homes…ultra luxury to be more specific.
For others, their Luxury Real Estate experience is defined by peace and serenity. We have regular inquiries regarding upscale homes with acreage. The goal for this set of buyers is to be away from it all, and have a place without the noise or disturbances of the outside world. There is a market for the secluded estate lifestyle, and there are a number of properties from which to choose. The prices have come down in this market segment, and vary greatly as the homes amenities and amount of land vary.
There is yet another set of luxury home buyers who see a Petaluma Farmhouse as their ideal home choice. The majority of the price and value here is in the large tracts of land available, and sometimes the Business of a small working farm holds considerable value as well. The rolling hills of Petaluma are certainly beautiful, and the farm lifestyle is the ultimate happiness to some.
Petaluma Victorian Homes are another example of some people’s view of Sonoma County Luxury Real Estate. These vintage gems are certainly a rare commodity, most are in a great location (walkable to fun and lively downtown Petaluma), and most are highly sought after. We have written about Petaluma Victorians in the past, and these tend to be some of the higher priced homes in Petaluma, in many cases these are the choice of many luxury home buyers. There is a niche market of buyers who want a unique vintage property, and a Petaluma Heritage Home offers a unique vintage charm that cannot be duplicated.
Sonoma County Vineyard Estates are another popular home choice of luxury buyers. We do have different types of buyers for this property; from people who want to work with their hands, to people who love agriculture, and others who see it as a Business venture. Many choose to purchase a home with an existing vineyard, as it does take time and money to set up vines, irrigation, and the time it takes to see the first fruit of the first harvest can be more than some are willing to wait for. Some do purchase raw land and build it all, but this is the exception, as the land fertility may be in question.
We also have people who have heard the call of the ocean, and want to live in Coastal Sonoma in areas such as Bodega Bay, The Sea Ranch, etc. Most choose homes with 180 degree views of the Pacific Ocean. We agree that there is definitely something calming about the Ocean, and the sunsets in Western Sonoma County. Prices can easily be in the 7 figure category on the coast, however, we are finding many great opportunities starting in the $500,000 range, as the current economic conditions have changed the vacation home market.
As we stated, Sonoma County Luxury Real Estate usually means one of the above home types, however there are certainly other options from which to choose.
If you have any questions regarding Sonoma County Luxury Real Estate, please do not hesitate to ask us. We look forward to hearing from you.
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Sonoma County Luxury Real Estate
November 4th, 2009 categories: Buyer Resource, Coastal Sonoma, Fountaingrove, Petaluma
Sonoma County Luxury Properties come in all shapes and sizes. I suppose Luxury is somewhat of a relative term, depending upon who you are talking to, and what you are talking about. Even though there may be different types of luxury, I think that people know luxury when they see it. Luxury, in my opinion, has to do with excess, and excess in style. For most people, tile countertops will work, however others need to have granite, or IceStone Countertops. Even with that, I have seen some really bad granite work (too many people trying to copy something they saw on Flip That House). I think a part of luxury is not just about materials, but also it has to incorporate quality workmanship as well.
Luxury Real Estate, as defined by Wikipedia, is a niche of Real Estate dedicated to the highest economic group of property buyers. I suppose I cannot argue with that definition, however, when I tend to think of Luxury Real Estate, I think of the durable good itself (luxury homes) and not necessarily the economic group of those who purchase it. After all, I know many people who are in the top 1% of all American wage earners who are currently buying up entry levels homes, duplexes, and fourplexes as diversified investment vehicles. They have noted that one can purchase a property, rent it out for more than the mortgage would be, and cash flow each month. Some will “get paid to wait” until prices return, sell the properties for a gain, and then buy bonds…as you know, you do not buy bonds to get rich, you buy them to stay rich. Anyway…the fact that high wage earners can by any type of properties, is the reason why I tend to think of the homes themselves when thinking of Luxury Real Estate. Going with that thought, I usually associate the term luxury with home of at least $500,000, and much higher in some areas.
Sonoma County Luxury Real Estate comes in all shapes and sizes. Whatever your view of Luxury Real Estate is, we are sure that Sonoma County offers it. Whether it is a hilltop estate in the Fountaingrove hills, a luxury golf course home at the Tuscan inspired Mayacama Country Club, a gated home, maybe a French style villa, on acreage away from neighbors, a Petaluma farmhouse with plenty of land, an estate with land for a small vineyard, or a contemporary Bodega Bay Home overlooking the Sonoma Coast, Sonoma County really does offer it all.
When buyers talk to us about Luxury Real Estate, they usually speak about one of the scenarios above, and I will talk about each in limited detail….In Tomorrow’s Article!
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SMART Train | Sonoma Marin Area Rail Transit
November 2nd, 2009 categories: Cotati, Green, Healdsburg, Petaluma, Rohnert Park
Sonoma Marin Area Rail Transit – The SMART Train, as it has come to be known has had a long and winding history. Since 101 (AKA Redwood Highway, and AKA “The 101″ for those who have ever lived in Southern California) is the major north and south thoroughfare from San Francisco to Sonoma County and beyond.
The SMART Train initiative was legally set in motion on January 1, 2003 when California State Assembly Bill 2224, gave a new regional transportation district (rail district) the ownership of 70 miles of railroad Right Of Way (ROW), which is estimated to be worth $1 billion.
OK, so now that we know a few of the facts about how it came to be, what actually is the SMART Train? The SMART Train, is a proposed Rail Line that will run from Larskpur to Cloverdale, about 70 miles. The line will feature 14 stops, allow for north and south travel (via “passing sidings” a small section of track where 2 sets of tracks run side by side, to allow one train to pass another), and also feature an adjacent paved bicycle path, AKA a Greenway. This Greenway will likely see 7,000 – 10,000 bikers, joggers, and walkers daily, and will be a recreational centerpiece of Marin and Sonoma County.
The SMART Train is the backbone of a North Bay transportation system that is a vision at this point. Eventually, it is planned to be a part of a system that incorporates, bikes, trolleys, buses, shuttles, ride share parking lots, and commuter parking lots. SMART Train riders will be able to bring bicycles on the train, and the train will be equipped with wireless Internet, coffee and snack bars, and state of the art design.
To learn even more about the SMART Train, I called their main office, and was referred to their community outreach manager. I asked several questions, and we covered a lot of facts I could not find anywhere else. The average fare is expected to be $4.50 (each direction), which seems pretty low cost to me. The total time from Cloverdale to Larkspur is expected to be 90 minutes (70 miles), with stops, which implies an average speed of 46.67 MPH. There will be a total of 14 trains that run north per day and 14 trains that run south. The times these trains will run are not yet determined, but I am told it will be during morning and evening commute hours, and also at least 1 train will run during mid day in each direction. The trains themselves have yet to be chosen, so the numbers of anticipated riders is not yet known.
So where will the SMART Train have stops and stations? The SMART Train will have stops and stations in the following cities: (From South to North): Marin County: Larskspur, Downtown San Rafael, Marin Civic Center, Novato South, Novato North, Sonoma County: Downtown Petaluma, Corona Road, Cotati, Rohnert Park, Santa Rosa Railroad Square, Jennings Avenue, Windsor, Healdsburg, and Cloverdale.
The SMART Train project is expected to cost about $540 Million. The majority of the funding will come from Sonoma County and Marin County residents through a 1/4 percent sales tax increase that was approved by voters in the November 2008 election. The tax increase was approved in a measure known as Measure Q. The tax is planned to be a 20 year tax, and started in April 2009, sunsetting in March of 2029…wow, that seems so far in the future.
So when will the SMART Train be here? A project of this magnitude does not just happen overnight, and the SMART Train project is no exception. Actual construction and earth movement will begin in 2011, with the inaugural train ride set for sometime in 2014.
We have heard so many things about the SMART Train over the past few years, long enough for us to form opinions of the project. We think that the SMART Train will only benefit Marin County and Sonoma County homeowners. With a modest 1/4 percent tax increase, there will be a mass transit option from Cloverdale to Larkspur. From Larkspur, you can ride the Golden Gate Ferry into San Francisco. Not only is the a Green alternative to driving a car, but the SMART Train will allow for more Sonoma County residents to earn the higher salaries in San Francisco, with a reliable transportation alternative. This extra income will help Sonoma County Businesses, as the extra income will likely be spent here.
Last and certainly not least, the SMART Train is also more environmentally friendly than any other alternative. The SMART Train is more GREEN, per passenger, than the passenger cars that flow along 101, is more GREEN and cost effective than buses that travel that 101, and will be equipped with clean diesel technology that will provide an extremely clean mass transit option.
If you have any questions regarding the Sonoma Marin Area Rail Transit (SMART Train), please feel free to contact us and we will do our best to find out.
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Big Investors Move Into Sonoma County
October 24th, 2009 categories: Buyer Resource, Petaluma, Seller Resource
Here come the Big Boys. Here comes the Smart Money. Here comes the East Coast Money. What does this mean for us? East Coast Money…Does it really matter where the money is from…after all, it is a sale right? It is a sale, and I think there is much more to it than that. I think it means GREAT things, let me explain!
For months now I have been talking about the Cash Flow opportunities here in Sonoma County. Big Cash Flow opportunities, high Cap Rates, and a great time to buy, not just a primary residence, but also an Investment Property or two. And now…outside of some small examples, some investors are putting BIG MONEY where their mouths are.
Lakeville Resort Apartment Complex - Petaluma California - Recently Sold For $52 Million To New York Based Investment Group Abacus Financial
The Lakeville Resort Apartment Complex in Petaluma California recently sold to New York Based Investment Group, Abacus Financial Group, paid $52 Million for the 492 unit apartment complex. This brings their portfolio to 23,000 apartment units across the country, implying the group knows what they are doing.
A September 20th, 2009 RealFacts survey showed that fundamentals are relatively strong for Sonoma County. Occupancy was 94.5% for apartments in Sonoma County, up from 93.4% the previous quarter. Further, the average apartment rented for $1,179 for the quarter, as opposed to $1,176 the previous quarter, a ever so slight increase. Rents from the previous year were $1,205 for an average apartment, showing only a 2.2% drop…very strong relative to national levels.
So what does this mean, and why is this good for me and you? I believe that it means the Sonoma County Real Estate market is near or at the bottom, our market has good fundamentals (rental rates, occupancy, and more importantly future outlook), and of all the opportunities nationwide, Sonoma County is being looked at, and in many cases, chosen by the “Smart Money.” Remember, this is an investment firm from New York who bought in Petaluma…and there is a lot of Real Estate between Sonoma County and New York from which to choose. Not only are there a lot of choices, there is also a lot of easier selections for a New York based firm…Boca Raton, FL is Manhattan south from January to May, as many Northeasterners vacation there…not to mention the rest of Palm Beach County, and further south to Miami. To look at investments nationwide and to have Sonoma County chosen means good things for us, as they likely had to overcome some emotional attachment to other areas as well.
So when we see little clues like this, we want to make sure we pass it along, as we think it means big opportunities for investment minded buyers. Just yesterday we were talking about a certain Florida based buyer with millions of dollars on the sidelines waiting for the right opportunity, and he was hesitant for a couple of reasons. This may be just the type of news he needs to hear to realize the numbers work, and cash flow is cash flow, and even if prices drop a little from here, he is well protected because of the cash flow.
On a side note, there are investment opportunities to cash flow for most price ranges…starting in the low $300,000’s currently, and we are happy to discuss these opportunities with all prospective buyers. These opportunities are not just here in Sonoma County, but also in Marin County, Lake County, Solano County, Mendocino County, Napa County, and beyond.
If you have any questions regarding Sonoma County Investment Property, please feel free to contact here, or at WineCountryMoves.com. We look forward to finding Cash Flow opportunities for you.
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BEST PRICED 4 Bedroom Petaluma Home – TODAY IS THE LAST DAY TO OFFER
October 23rd, 2009 categories: Buyer Resource, Petaluma
The Best Priced Petaluma 4 bedroom home is still accepting offers…But…TODAY IS THE LAST DAY! Call Yasmeen directly at 707.771.0338 to make an offer.
1304 San Jose Way - 4 Bedroom Home - Petaluma, California - Sonoma County
Petaluma Home is an irresistible single story 4 bedroom 2 bath which is located in a desirable area. This home features 1,476 square feet of living space set on a .138 acre lot. This ranch style home also has a very usable floorplan.
Fresh and new inside, including hardwood floors, upgraded windows, new paint, newer appliances, new carpet, gorgeous light fixtures, upgraded bathrooms, large Master Suite with slider and vaulted ceiling. New designer/low maintenance landscaping with irrigation system.
This home is located just minutes to shopping and schools. Petaluma Real Estate has been a popular choice due to its proximity to all areas of Sonoma County, Marin County and beyond. This home is located approximately 16 miles to Marin County and 39 miles to San Francisco.
Petaluma rarely has 4 bedrooms homes at this price…and it is unheard of to have a fixed up 4 bedroom at this price. Make sure you make it a point to see this home.
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Decisions Decisions Decisions
October 22nd, 2009 categories: Personal Notes, Petaluma, Rohnert Park
I am travelling later today and I have been thinking this morning; thinking about decisions. I am not second guessing any past decisions, but looking forward to new decisions that are likely to need some thorough analysis. How will X impact Y and how will Y impact Z? Definitely a lot of thinking to do…good thing the hamster in the wheel in my head likes to run and run fast.
With all of my thoughts, I could not help but think of some of our most recent clients. Decisions they have been faced with, decisions they have made, decisions they will be faced with, and predicting what they will decide.
Sometimes things seem so clear to me…I suppose that type of thing comes with experience. I have been faced with virtually every Real Estate decision over the past 5+ years. I have seen the hottest markets in the country, and also some of the worst. We realize that many of our clients have never been faced with some decisions and need some help and guidance when making decisions. We will always be there for our clients to help with the most basic and most complex decisions. We really do like to help our clients make the best decisions for them, and help them look at the big picture and how each decision factors in.
We receive all sorts of questions from buyers; from the usual “Where should we buy?”, and “Should we buy a house or a condo?” to the complex, “How would this property work with a 1031 Exchange?”
Some questions we get really have no single answer. We often get questions about comparing one area to another, such as “Which city is better…Rohnert Park, or Petaluma?” We will help people compare the two locations…the relative affordability of Rohnert Park, versus the lively Petaluma Downtown. Both cities have great schools, great neighbors, and great housing options. Petaluma surely has more character with all of the Petaluma Victorians, and waterfront district, while Rohnert Park has more parks for recreation. This is an example, and there are certainly more pros and cons of each city, and in the end, it really comes down to who is asking, their situations, financially, employment-wise, and how they want to live.
Whatever the decisions our clients are faced with, we will help them through whatever Real Estate decisions they need help with.
Feel free to contact us if you have any Sonoma County Real Estate questions or questions about Sonoma County in general. We will talk with you soon.
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Sonoma County Foreclosure Lists FOR FREE
October 20th, 2009 categories: Buyer Resource, Cotati, Foreclosures, Fountaingrove, Petaluma, Rohnert Park, Santa Rosa, Sebastopol, Short Sales, Sonoma
“FREE Sonoma County Foreclosure Lists? Are you kidding me?” That is a typical response we receive when people ask us the best way to find new Sonoma County Foreclosures and Short Sales and we tell them we offer that service for free. Even after we explain to them that we can provide lists of ALL currently listed Foreclosures and Short Sales, many of our clients are amazed.
FREE Sonoma County Foreclosure Lists are a great asset for all buyers, included the investment monded buyer. Many of our clients had paid for this same exact service from other sources, and realize how much money they would have saved just by talking to us. Even better is the fact that we can customize your list to show you exactly what you want to see, not every single foreclosure or short sale…if you want to see all of the properties…great, we can provide that, or we can save you time with a customized list.
Many people look at foreclosures as the best way to buy the best priced Sonoma County Real Estate. We like to think a great Real Estate agent on your side is also essential.
We Offer Free Lists Of:
- Bank Owned Homes
- Bank Owned Luxury Homes
- Bank Owned Condos
- Bank Owned Townhomes
- Bank Owned Investment Properties
- Bank Owned Commercial Properties
- Bank Owned Land
We offer free foreclosure and short sale lists for Sonoma County, Napa County, Marin County, Solano County, and Lake County as well. If you need these lists beyond those areas, be sure to ask for a list of our contacts in other areas…we have a trusted network of Real Estate professionals in many areas.
Foreclosures and short sales are not just limited to low priced properties. There are many foreclosures in all price ranges, from properties under $100,000 to well over $1 million dollars, and include areas such as Rohnert Park, Sebastopol, Santa Rosa, Fountaingrove, Petaluma, Cotati, Penngrove, Sonoma, etc. Contact us via this website (contact info at top right of this page) or at WineCountryMoves.com to sign up.
So once you have the free list of Sonoma County Foreclosures and Short Sales, what do you do when you have found a house? Call us to set up a showing of the home and discuss details of writing any offers. We have years of experience helping people buy and sell foreclosures and short sales and we can help you navigate the process with ease. We will give you an objective view of the market, keep you up to date all all relevant items, and advise you of offers that will give you the best chance at saving money and getting the home of your dreams.
Visit Foreclosure Buying Tips to learn more about buying foreclosures. Should you have any questions regarding Sonoma County Foreclosures or Sonoma County Short Sales feel free to contact us; we look forward to hearing from you and helping you save money.
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Petaluma Victorian Home Prices Are Falling
October 18th, 2009 categories: Buyer Resource, Petaluma, Seller Resource
Petaluma victorian home prices are falling. This past summer, this was an unheard of statement, as Petaluma Victorians were white hot. They are still a very unique product, however we have not had the demand for them in the past few months. So what happend? Why are the prices of Petaluma Victorians falling? We do not have an exact reason for this as each buyer and seller have their own reasons and agendas, however we do know this is a reality.
Petaluma Victorian Homes are sitting on the market longer, and selling for lower prices thatn they have over the the past 6 months. Petaluma home buyers that are in the market for victorians are in a position to negotiate better prices today than they were just a couple months ago, and this is helping to drive prices down, good for buyers.
Some sellers are sticking to their prices, but if they want to sell, they need to realize they need to price where the Real Estate market is, no matter how unique a victorian home is. There are plenty of Real Estate buyers currently in the market, and as their tastes change, the market moves. If the buyers decide that, as a whole, they are less interested in one form of Real Estate rather than another, sellers need to take note of this, and make adjustments accordingly. After all, prices are about not only Real Estate supply, but also Real Estate demand, especially when it comes to a specialize product like a Petaluma Victorian Home.
Most of the current Sonoma County home buying activity is in the entry level market, homes priced under $300,000, definitely NOT the price range of Petaluma victorian homes. Perhaps this is due to the $8,000 First Time Homebuyer Tax Credit, or maybe it is due to the fact that these properties can Cash Flow for investors. We think it is a great time for Sonoma County homebuyers for various reasons, and can tell by the multiple offer situations that most agree.
The lower prices of Petaluma Victorian Homes coupled with the lower Sonoma County Mortgage Rates, make this a great time to buy a rare commodity at an extremely affordable price.
Petaluma Victorian Homes are not for every owner. Many of these victorian homes are 100 years old, or even older. This necessitates a special type of homeowner, and also homeownership. These homes are ideal for someone who is a hands on owner that does not mind an occasional project in order to maintain the homes integrity, and style. Given this, we do suggest that Petaluma Victorian homes are worth a look, especially now that the prices seem to be retreating somewhat.
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WANTED: Sonoma County Real Estate Listings
October 12th, 2009 categories: Buyer Resource, Fountaingrove, Petaluma, Rohnert Park, Santa Rosa, Seller Resource
I know what you are all thinking…this is a request for sellers to list their homes with us. While we would like to talk to those who need our help, this is a just a short rant on what our buyers are thinking.
There are many buyers, and so few homes on the market, it makes things tough for those who want to purchase a home. There are many reasons to buy RIGHT NOW…the $8,000 Home Buyer Tax Credit (disappears on December 1st), extremely low Sonoma County Mortgage Rates, and the fact that a mortgage payment right now is less than rent on a similar property in many cases.
All of Sonoma County is experiencing a shortage of homes for sale. From entry level homes in Santa Rosa, to mid range priced homes in Rohnert Park, to Petaluma, the new affordable San Francisco escape, and even to the high end Fountaingrove and Mayacama Country Club, supply is nowhere to be found. Well priced homes are selling in days, no longer months.
We have the buyers, the buyers have the motivation, and now all we need is the supply of homes.
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