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Robert & Elaine Ramirez
Century 21 Bundesen
616 Petaluma Blvd. S
Petaluma, CA 94952
Phone: 707-762-5611
Mobile: 707-484-1589
Fax: 707-762-1032
Email: robert@petalumahomes.com
CA#00545460 CA#01010982

See What Our Clients have to say

Robert and Elaine Ramirez served as our real estate agents in the purchase of two properties. They are both consummate professionals; individuals that can be trusted 100% and they have excellent knowledge and experience that is of great benefit to their clients. They are always available to answer questions, to clarify and address concerns, to lead their clients through the myriad of paperwork and negotiating required in buying property. They are there for their clients from the very first step and right through to the end of the purchasing processes. I could not recommend them any more highly Marly and Danny- Buyer Representation (2016-2017)
Based on the positive experience my parents had using Robert Ramirez as their realtor, I decided to turn to him when I began looking for property to buy. It didn't take long for me to realize I made the right decision. Robert and Elaine guided me through the long process, teaching me along the way as they constantly provided me with updates and important pieces of information. Robert even took me to the County permit office on two occasions to make me as well informed as possible. Robert was able to get me in contract with the sellers of the property within a couple weeks of the listing date, even with the competition for the property. Once in contract, Robert and Elaine negotiated with the sellers, using subtle tactics, and as a result of Robert's and Elaine's knowledge and experience, they were able to work out a price that was extremely affordable for me. After months of extending the contract, the property is now mine. Both Robert and Elaine were extremely professional throughout the process, and it's hard to imagine being the owner of this property if it wasn't for them. I am very grateful for their services and would highly recommend Robert and Elaine for anyone who finds their dream home on the market and needs someone to bat for them. Matthew- Buyer Representation (2017)
We are completely new to the area and Robert Ramirez has been both a great realtor and welcoming introduction to Sonoma County. He had patience with us as we saw many more houses than necessary to realize that what he was suggesting initially was actually what we were wanting. Robert was able to work with our schedule and find exactly what we were looking for in a first home. He continued to help even after we bought the house, setting us up with many contractors to get the changes made to our house that we wanted. Robert answered all of our questions via email, phone, text at odd times and days about the entire buying process. Could not be happier with our experience! Cassie and Michael- Buyer Representation (2017)
I was looking for a house to buy, but I work 40 hours a week so my freshly retired mother was also helping. My mom found this house on Holly Lane for sale and wanted to take a look at it. She had no way of getting there, we share a car and I had the car at work that day, so she called Elaine. Elaine immediately offered to pick her up and show her the house. She also brought my mom back home afterwards :) Along the journey of purchasing this house there were a few snags that might have ended this sale prematurely had Elaine and Robert not helped us work out all issues. Robert and Elaine mediated so well that both us, the buyer, and the seller walked away very happy with this exchange They even helped us, mostly my father, work out the loan issues in order for us to get financed for loan to purchase the house In my opinion, I would not have been able to get this house at all if it wasn't for team Ramirez Nate- Buyer Representation (2016)
I am so pleased with our experience. This short sale decision was scary no doubt and both Robert and Elaine explained everything clearly, went above and beyond. After speaking with them I was actually excited that this could actually be a reality and my life become easier and with much less stress. Christina O (2015)
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Welcome

Robert and Elaine Ramirez have served buyers and sellers in Petaluma and throughout the greater Sonoma County for over 35 years.

Their valued clients have included first time homebuyers, investors, sellers of luxury properties, owners under financial hardship, and more.

Since 1977, their business has been built on putting their clients first by providing in-depth consultation based on a lifetime of Real Estate experience.

Click here to read more about Robert & Elaine. 
                     

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Real Estate News!!!

Latest Realty News from NAR

REALTORS® Confidence Index Survey: May 2018 Highlights

The REALTORS® Confidence Index (RCI) survey[1] gathers monthly information from REALTORS® about local real estate market conditions, characteristics of buyers and sellers, and issues affecting homeownership and real estate transactions.[2] This report presents key results about market transactions from May 2018. View and download the full report here.

Market Conditions and Expectations

  • The REALTORS® Buyer Traffic Index registered at 73 (74 in May 2017).[3]
  • The REALTORS® Seller Traffic Index registered at 44 (46 in May 2017).
  • The REALTORS® Confidence Index—SixMonth Outlook Current Conditions registered at 72 for detached single-family, 59 for townhome, and 57 for condominium properties. An index above 50 indicates market conditions are expected to improve.
  • Properties were typically on the market for 26 days (27 days in May 2017).
  • Eighty-eight percent of respondents reported that home prices remained constant or rose in May 2018 compared to levels one year ago (90 percent in May 2017).

Characteristics of Buyers and Sellers

  • First-time buyers accounted for 31 percent of sales (33 percent in May 2017).
  • Vacation and investment buyers comprised 15 percent of sales (16 percent in May 2017).
  • Sales of distressed properties (foreclosed or sold as a short sale) accounted for 3 percent of sales (5 percent in May 2017).
  • Cash sales made up 21 percent of sales (22 percent in May 2017).
  • Seventeen percent of sellers offered incentives such as paying for providing a warranty (9 percent), closing costs (6 percent), and undertaking remodeling (2 percent).[4]

Issues Affecting Buyers and Sellers

  • From March–May 2018, 76 percent of contracts settled on time (76 percent in May 2017).
  • Among sales that closed in May 2018, 77 percent had contract contingencies. The most common contingencies pertained to home inspection (58 percent), obtaining financing (45 percent), and getting an acceptable appraisal (44 percent).
  • REALTORS® report “low inventory”, “interest rates”, and “multiple offers” as the major issues affecting transactions in May 2018.

About the RCI Survey

  • The RCI Survey gathers information from REALTORS® about local market conditions based on their client interactions and the characteristics of their most recent sales for the month.
  • The May 2018 survey was sent to 50,000 REALTORS® who were selected from NAR’s 1.3 million members through simple random sampling and to 7,495 respondents in the previous three surveys who provided their email addresses.
  • There were 4,169 respondents to the online survey which ran from June 1-12, 2018. The survey’s overall margin of error at the 95 percent confidence level is one percent. The margins of error for subgroups and sample proportions of below or above 50 percent are larger.
  • NAR weighs the responses by a factor that aligns the sample distribution of responses to the distribution of NAR membership.

The REALTORS® Confidence Index is provided by NAR solely for use as a reference. Resale of any part of this data is prohibited without NAR’s prior written consent. For questions on this report or to purchase the RCI series, please email: Data@realtors.org


[1] Thanks to George Ratiu, Managing Director, Housing and Commercial Research and Gay Cororaton, Research Economist for their data analysis and comments to the RCI Report.

[2] Respondents report on the most recent characteristics of their most recent sale for the month.

[3] An index greater than 50 means more respondents reported conditions as “strong” compared to one year ago than “weak.” An index of 50 indicates a balance of respondents

who viewed conditions as “strong” or “weak.”

[4] The difference in the sum of percentages to the total percentage of sellers who offered incentives is due to rounding.

Median Prices Rose to Highest Level, But Inflation-Adjusted Prices Still Below Bubble Peak

The median sales price of all existing homes sold rose to its highest level in May 2018, to $264,800. This peak price exceeds the housing bubble peak of $230,400 in July 2006. The median sales price of existing homes sold has been trending up (on a year-on-year basis) in the past 75 months since March 2012. This also represents a 71 percent nominal increase from its lowest level in January 2012 of $154,600. However, netting out the effect of inflation, the May 2018 inflation-adjusted median home sales price is at $172,928. This is still 11 percent lower than the inflation-adjusted peak price of $193,781 in June 2005. On an inflation-adjusted basis, home prices have increased 58 percent since February 2012.

An inflation-adjusted measure of house prices provides useful information for both current homeowners and for homebuyers. For current homeowners, a desirable situation is one where home prices are appreciating at a faster rate than inflation, so that they get a positive real return. For homebuyers, a desirable situation is one where home prices are not appreciating too far off from the overall increase in prices (inflation), so that households are not forced to make significant adjustments to their spending behavior just to purchase a home. Moreover, home prices should not be appreciating too far ahead of the rate of increase in income (which is also tied to some extent to inflation), which makes a home purchase unaffordable.

The median sales price of existing homes sold at the nominal and inflation-adjusted levels are still rising, but the pace of appreciation has slowed compared to the double-digit growth rates in October 2012‒ January 2013. Although the May 2018 nominal median home price of $264,800 is a new high, this represents a modest appreciation of 4.9 percent (year-on-year basis) compared to the average price appreciation of 8.5 percent during the bubble period and the 7.0 percent average during this current recovery period.  The inflation-adjusted median home price rose by 2.0 percent in May 2018, also a slower pace of appreciation compared to the 5.7 percent average during the housing bubble period and the 5.5 percent average during this recovery period. This indicates that, nationally, the real estate market during this recovery period has not overheated to the same intensity as that of housing bubble period of January 2012–July 2006.

The pace of price appreciation has started to taper off as home prices have become less affordable, along with interest rates on the rise. Home prices have been rising at a faster pace than income, making a home purchase less affordable.  As of 2017, the median sales price of existing homes was up 40 percent compared to the annual average in 2012, while incomes (measured by weekly earnings) were up by only 12 percent.

Interest rates are still at historically low levels, though they are on the rise, as monetary policy is expected to tighten in response to rising inflation.  The 30-year fixed-rate mortgage has increased to 4.62 percent during the week of June 14 compared to 3.91 percent nearly one year ago. A one-percentage point increase in mortgage rates increases the monthly mortgage by $119 (or $1,426 annually) for a borrower making a 20 percent down payment and by $143 for a borrower making a 3.5 percent down payment (or $1,720 annually). For some borrowers, this additional cost can mean the difference between buying or renting.

In summary, nominal home prices are above the peak seen during the bubble years, but the inflation-adjusted price is still below the housing bubble peak. Moreover, while home prices are still increasing, the pace of price appreciation is slowing, as demand is adjusting to the higher price and rising mortgage rates. The trends indicate that the pace of price appreciation during the current recovery period is not likely to reach the intensity of the housing bubble period on a national scale.

Younger Boomers: Purchased Multi-Generational Homes

Younger Boomers, buyers aged 53 to 62 years, made up 18 percent of all home buyers in 2017. The median age for this group was 58 years old and they were born between 1955 and 1964. This age group was the most likely to purchase a multi-generational home at 20 percent. Their reasons for purchasing a multi-generational home were children or relatives over the age of 18 years moving back in (23 percent), health/caretaking of aging parents (22 percent), and children over 18 years that never left (16 percent).

For Younger Boomers, the primary reasons they purchased homes were the desire to own a home of their own (17 percent), a job-related relocation or move (13 percent), and the desire for a smaller home (10 percent), more than other generations. Compared to other buyers, they said it was the right time and that they were just ready to buy when they did (49 percent).

Younger Boomers were less likely to purchase in the suburbs (50 percent) and most likely to purchase in rural areas (15 percent) compared to other generations. They had the second highest median household income at $94,000. They also purchased the second most expensive homes of all generations with a median home price of $249,200. This generation of buyers also purchased the third largest homes in size at a median square footage of 1,870.

Younger Boomers were the most likely to consider heating and cooling costs very important. This age group was unlikely to compromise on the price of the home as well as the quality of and distance from schools. Younger Boomers moved from their previous residence at a median of 17 miles.

Younger Boomers were the most likely to look online for properties for sale as their first step in the home search process (48 percent). They were also the most likely to cite yard signs as useful search information on homes (50 percent) more than other generations. Younger Boomers were the most likely to use money from an inheritance for the downpayment of their home purchase.

Younger Boomers were the second largest share of home sellers last year at 23 percent. They had the third highest median incomes for sellers at $100,000 (Millennials surpassed them this year) and sold the second highest median priced homes at $264,300. Younger Boomers were the most likely to sell a detached single-family home and sold the largest homes at a median of 2,100 square feet. They were the most likely to offer home warranty incentives to help sell the home.

 

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