Gerrett Snedaker Broker/Partner, Better Homes and Gardens Real Estate/Wine Country Group: The Current State of the Market
Our Guest Speaker for May 5, 2022 was Gerrett Snedaker, Broker/Partner of Better Homes and Gardens Real Estate/Wine Country Group and other real estate companies. Gerrett is licensed in Florida, Illinois, and California, and is an expert in the Sonoma County real estate market. He is also very proud that his firm was nominated as a finalist in District 5130’s Ethics in Business award! His company is also the Press Democrat Reader’s Award Best Real Estate Company! Gerrett also shared his company's standard for-sale sign:
Gerrett gave us a great snapshot of the value of real estate ownership in general and the current state of the Sonoma County market. He noted a New York Times article that estimated an increase in personal wealth due to real estate ownership of $6 trillion in the last two years! Baby boomers’ wealth increases often came at the expense of Gen Z’s. People of color have not had the same opportunities as others to build wealth in real estate, which has greatly impacted the wealth of people of color in general. Adjustable rates are coming back! Gerrett thinks the recent interest rate spike will slow, but not drop. A new development is the recent increase in home inventory on the market. One example of that is the number of viewers of multiple listing homes; in March, there were 17,000 views of 57 homes on the market. In April, that number decreased to 10,500 views for the same number of homes. The hottest Sonoma County markets are the coast, Rohnert Park, Petaluma, and Windsor! One important point made by Gerrett – there is no better hedge against inflation than real estate, and this fact will likely keep people turning to real estate for years to come.
Gerrett noted at the outset of his presentation that he felt some pressure in following in the footsteps of the great Mike Kelly, our recently departed Sunrise real estate guru. Gerrett, Mike Kelly would be proud of you! Many thanks for the great summary of the current trends in the real estate market, and for the poetry!
Click HERE to view Gerrett's presentation recording. This is a limited time offer.
