The Agency is pleased to announce our Chairman Award and MVP winners of 2020. The newly unveiled Chairman Award recognizes the Top 5% of agents at the company and the Top 5% of agents in each region based on sales volume for the year. The MVP Award goes to the agent or agents who reached the top production based on sales volume companywide. Beyond their sales success, the winners are stewards of The Agency brand and core philosophy, representing our service-first approach and culture of collaboration in their work every day of the year. Congratulations to all of our award winners!
Heritage Oak Vineyard in Napa Valley
Premier Chardonnay Vineyard in Los Carneros AVA/Napa Valley
43.06 Acres with 27.74 planted vineyard acres planted exclusively to Chardonnay | $4,000,000
Carneros AVA earned its status in 1983. One of the world’s premier winegrowing regions, Los Carneros – “The Ram” in Spanish – is located less than 40 minutes from San Francisco. Marin County, the East and North Bays, Sacramento and the South Bay are all just a short distance further.
A cool climate appellation, Carneros has long been known for its distinctive Chardonnays, elegant Pinot Noirs and its sparkling wines. In recent years, Carneros has been recognized for the quality of its Syrah, its Merlot and new varietals now emerging throughout the appellation.
As inland temperatures rise during the day, moist air over the cold Pacific is drawn inland over Carneros, cooling temperatures from mid afternoon into evening. These fresh afternoon winds slow activity in leaves, stressing the vines even when irrigated. Fog rolls in throughout the night and this provides a gentle buffer to the next morning’s sun, repeating the climatic cycle. Carneros was the first wine region based on climate rather than political boundaries.
Carneros soils tend to be dense, shallow (approximately three feet deep), high in clay content, and of low to moderate fertility. These soils impact the vine’s vigor by restricting development of the root system, providing just enough nutrients and water to sustain growth without excess development. Subsoils also vary in Carneros. Each of the different subsoils substantially changes the environment of a grapevine’s roots, and affect the composition of the fruit. As such, the Carneros AVA is known to produce wines with a great amount of diversity.
Full confidential package available with a signed NDA | Call Mark Stevens 707-322-2000 or email Mark. Stevens@TheAgencyRE.com
Sonoma Valley Vineyards
Sonoma Valley AVA Chardonnay Vineyard
40.71 Acres with 29.43 vineyard acres planted exclusively to Chardonnay | $4,000,000
The Sonoma Valley AVA centers on the Sonoma Valley (also known as The Valley of the Moon) in the southern portion of the county. The appellation is bordered by two mountain ranges: the Mayacamas Mountains to the east and the Sonoma Mountains to the west. Along with being the area where so much of Sonoma County’s winemaking history took place, the area is known for its unique terroir, with Sonoma Mountain protecting the area from the wet and cool influence of the nearby Pacific Ocean. The Sonoma Mountains to the west help protect the valley from excessive rainfall. The cool air that does affect the region comes northward from the Los Carneros region and southward from the Santa Rosa Plain.
Because the valley is cooled from the north and south, it is different from other California north-south-oriented grape growing valleys in the interior. In addition, the daily wind that makes its way into the northern and southern sections of the valley slows ripening, which prolongs hang time and promotes natural balance in the wines. In the appellations of the North Coast, the wind is unique to Sonoma Valley and Carneros. The soils of the Sonoma Valley, like the rest of the county are varied. One finds a wide disparity between valley floor and mountain soils; those found in flatter, valley areas tend to be quite fertile, loamy and have better water-retention while the soils at higher elevations are meager, rocky and well-drained. In general, the structure, rather than the composition of the soil, is the deciding factor where grape plantings are concerned.
Full package available with a signed NDA | Call Mark Stevens 707-322-2000 or email Mark. Stevens@TheAgencyRE.com
Information posted from C.A.R on November 23, 2020:
Proposition 19: Property Tax Increase Limits on Primary Residences
How does Proposition 19 change the rules on tax basis portability?
Prop 19 allows a homeowner who is 55 years of age or older, severely disabled or whose home has been substantially damaged by wildfire or natural disaster to transfer the taxable value of their primary residence
to: a) a replacement primary residence anywhere in the state, b) regardless of the value of the replacement primary residence (but with adjustments if replacement has a greater value), c) within two years of the sale and d) up to three times (or as often as needed for those whose houses were destroyed by fire).
The prior rule limited this exemption to a one-time transfer within the same county (Prop 60) or between certain counties (Prop 90) and only if the replacement property was of “equal or lesser value.”
When does the tax basis portability portion of Prop 19 take effect?
April 1, 2021
Can my client buy/sell now and take advantage of the tax portability benefits before April 1, 2021?
There is no definitive answer in the law. Although, we believe that the tax benefits under Prop 19 will apply to transactions where either the sale or purchase of a primary residence takes place before April 1, 2021, as long as the subsequent sale or purchase takes place within two years and occurs on or after April 1. If you have a client who wishes to obtain the tax benefits of Prop 19 for a transaction that closes prior to April 1, 2021, whether it is buying or selling a property, the client should be encouraged to seek the advice of a qualified California real estate attorney or tax advisor.
If the replacement property is of equal or lesser value, does the tax basis of the replacement property change?
No. The taxable value of the original property may be transferred and become the taxable value of the new one. If the replacement property is of greater value, how is the new taxable value calculated? The new taxable value is calculated by adding the difference between the full cash value of the replacement property and the original property to the original taxable value. For example, if a seller of an original property has a $300,000 taxable value and a full cash value of $1M and then buys a replacement property for $1.5M, the taxable value of the replacement property would be $800,000.
Can a replacement property be purchased prior to the original primary residence being sold? Yes. This is how the current rule under Prop 60 works, and Prop19 uses nearly identical language.
How does Prop 19 affect the rules on intergenerational transfers to children or grandchildren?
It limits the exemption to those properties where the primary residence continues to be used as a family home by the child or grandchild transferee. If so, the taxable value will remain the same, subject to some upward adjustments if the property value, at the time of transfer, is more than $1M over the original tax basis.
If the property is more than $1M over the original tax basis, what is the new taxable basis?
The new taxable basis will be the assessed value of the property at time of transfer minus $1M.
When do these new rules on intergenerational transfers apply?
February 16, 2021.
Where may a claim to transfer a tax basis be made?
Claims may be made with forms provided by the local county assessor’s office.
The beginning of 2020 saw the California real estate market humming along at a good clip. Then came March and the COVID-19 lock-down and everything came to a screeching halt. Sellers pulled homes off the market, afraid of contagion, and buyers stopped looking, mostly for the same reason, as the entire US economy literally shut down for about the next three and a half months.
But in June of 2020 things began to change. Real estate was designated “essential” and Home buyers, driven by a refocused need of home as a refuge, began to come out again. This resurgence was in part fueled by a large segment of workers in our economy who needed to work remotely from home, many with children who were also schooling remotely from home. Home has always been held in high esteem, but the pandemic raised the idea of Home as a Refuge to new levels of demand not seen before.
In July, the California Association of Realtors (C.A.R.) reported that home sales across the state rose by a whopping 42% from May to June 2020. That’s partly due to the state’s gradual reopening which happened at that time as well as from pent up buyer demand.
What was a surprise and has since become a trend is the exodus of buyers leaving high priced, high-density urban areas, like San Francisco, for suburban areas that offered more space, privacy, and affordability. In fact, as we speak, San Francisco continues to experience a softening of prices in its housing market. And local news channels report that a significant number of San Francisco rentals are sitting vacant.
As an example, this trend was readily seen last summer in areas like the Russian River of the North Bay. Out of the way comparatively “cheap” river shacks along Rio Nido, Guerneville, Monte Rio and Cazadero were gobbled up like so many potato chips left unattended at a picnic with all-cash offers and little to no contingencies. Other rural to suburban areas, like Murphys, is experiencing similar value shifts in its housing market. With many now having the ability to work remotely, areas once inaccessible as a primary residence are now doable.
Home Buying Institute (HBI) predicts the following for the California real estate market in 2021:
- Home price appreciation will tick upwards as buyers and sellers realize that real estate deals can still be conducted despite the pandemic and because of upcoming vaccinations which will help to create confidence and normalize life.
- “Urban Flight” will continue to be a thing, with the desire for space and privacy at an all time premium which will continue to drive up prices in small towns, suburbs and more rural areas.
- Home inventory is expected to grow as more sellers get comfortable with putting their home on the market again and as we see more foreclosures come to market.
- Mortgage rates are expected to stay at an all time low at around 3-3.5% well through 2021.
- An increase in home sales is expected as the urban to suburban migration continues, which should keep California’s real estate market very active all through 2021.
In conclusion, the housing market continues to surprise economists and analysts. During this unprecedented pandemic it has been referred to, repeatedly, as the one “bright spot” in the nation’s economy. This surprisingly strong performance is expected to continue through the end of 2020 and well into 2021. And as we collectively face the challenges ahead, including what is now commonly termed a “dark winter” it’s nice to have a bright spot on the horizon. Finally, it’s worth remembering that the shortest, darkest day of the year is December 21st, but after that, days will get longer and brighter. Think of the pandemic as the shortest, darkest day of the year and look forward to things getting better and brighter.
Wishing you and your loved ones hope and brightness in the days to come. May 2021 be the year more of our hopes and dreams come true.
—Mark Stevens and Associates at The Agency, Healdsburg
December 18, 2020
HBI (Home Buying Institute), http://www.homebuyinginstitute.com/news/california-housing-predictions-for-2021/
Sticker shock was in full force when I moved from Northern Colorado to Northern California in 2016. In Colorado, $350,000 could get you a modest three bedroom, two bath rancher along the Front Range. In Sonoma County wine country? Not so much.
I had about $80,000 as a down payment and a new job and after adjusting to the new market metrics, I began to get acclimated to my environs and the crazy California housing market. I was renting a downtown Santa Rosa apartment for about $2200 a month…..renting. It was driving me crazy because who wants to throw away that much money every month towards something you don’t own and that pays someone else’s mortgage? For the past twenty years I had owned my own home and I knew the value of owning rather than renting. In addition to having your investment appreciate in dollars, there is also the psychological value of knowing that you are in charge of where you live (meaning, no landlord to raise the rent or end your lease or decide to sell).
After getting my ducks in a row and working with a good realtor, I discovered an established town home complex called Courtyards East in Windsor and fell in love. The complex is mostly owner-occupied and surrounded by heirloom oaks and mature Redwoods and maples. Located near the 101 highway it also made for easy commuting. Once I discovered all the nearby hiking trails, I really fell in love and felt like I had stumbled upon a secret that not many others seemed to know about. And the town of Windsor is so quaint and cool–Oliver’s Market, Russian River Brewing Company, and weekly town green concerts in the summer (pre-COVID). And there are so many other great places nearby….world-renowned Calistoga is a mere 30 minutes around the corner, and the same for funky Russian River towns like Guerneville and Monte Rio with the coast just a few minutes further. And don’t forget Santa Rosa and all its conveniences is a short drive down the highway, with Healdsburg only five miles north and always a draw for wine tasting, shopping and dining.
Three years have passed since I got my foot firmly lodged in the Sonoma County real estate market and it’s time to let someone else do the same and take advantage of “affordable” housing in Sonoma County. My beautiful town home, which holds so many great memories, is now available as I transition into a new life in a new home with a great guy (soon to be my husband). If you are done with renting and want a home under $400,000, and want to take advantage of today’s crazy-low mortgage rates, come take a look at my place at 216 Courtyards East in Windsor. You’ll be glad you did!