Real Estate and Real Life in the Wine Country

You are cordially invited to drop by my open houses this afternoon:

164 Cordoba way in Windsor: Open from 1:30 - 4:30 pm. 

Lovely home in the Foothills subdivision. I know you can find 4 bedroom homes that are cheaper in Vintage Greens in Windsor but drop by and visit the neighborhood, the difference will be clear: the Foothills is an eminent neighborhood. Walk to the community pool, the trails in Foothill park are superb, the fishing ponds are serene, etc. It’s a good life!

13 Feeney Drive in Rohnert Park: Open from 1 - 4 pm

Great home on a convenient location. You will find pride of ownership in Mountain Shadows Square with more than 80% home ownership(this is what I have been told) -> this means that less that 20% of the homes are rentals. And drive through the neighborhood, you will know what I mean. The neighbors have lived there ‘forever’ and love living there. The location -close to shopping, golfing perfect commuter location- is surprisingly peaceful and quiet. Come by and find out for yourself.

Mirjam

See the Marketplace in the www.pressdemocrat.com to see the listing for www. 164 CordobayWay.com. You are to call Mirjam if you have any interest the first thing this morning. It is a real “steal” for anyone interested in living in the Foothills Subdivision. Great press for this property!

Even though the news today is somewhat grim about real estate the local New York Times Press Democrat does admit that the price of residential Real property in Sonoma county remains stable—$606,000 for the median. It even reports that we should see a slight increase in real estate prices over the next couple of years. Since this is a “no growth” county it stands to reason that what is here will continue to appreciate even at a slower pace than we have seen in past years. For more information about county real estate, please see the Sonoma County website www.sonoma-county.org and see the Economic Development Board reports on Real Estate in the county. Ben Stone, the Director does a great job in providing the community with the latest and greatest stats on the performance of sonoma county.

Talk about Press— Please look for my upcoming publication “Masters of Sales”. This book is anticipated to be a NY Times best seller when it is released this August. Amazon books www.Amazon.com is taking prerelease orders. This book has been compiled by Dr. Ivan Misner who studies sales and business networking. He is also the founder this international organization of over 12 chapter of Business Network International (BNI) in the county—see http://www.bni.com/ and http://www.bni-sfbay.com/ for the entire North Bay. In the region 4 BNI members have articles in the new book-Dawn Lyons, Area Director North Bay, Ed Craine, Area Director SF, Trey McAllister, Asst Director and me also Asst Director. Some of the contributing authors to this BNI book include: Zig Ziglar, Brian Tracy, Tom Hopkins, Martha Stewart, Jack Canfield, Harvey Mackay, and Tony Robbins, these names are leaders in salesmanship! You will see me at upcoming book signings in the county and talking about the book in several media outlets locally. If you would like a signed copy…..Place your order NOW! www.denisebeeson.com

  Broker open for Realtors: in Santa Rosa it’s every Tuesday.

This week’s most spectacular home - the winner:

1537 Kjell Ct A total remodel on a quiet street on a private location yet close to town - $ 1,350,000

Other remarkable homes in Bennett Valley:

4705 Annadel Heights - New Mediterranean style home in Summerfield Heights, great floorplan, 1.42 acres with bocce ball court, olive trees and small vineyard and sunset views - $1,495.000

3017 Santa Margarita Ct - In Summerfield Heights. For the serious cooks, chef’s kitchen, room for in-law/office situation - $1,025,000

4722 Foulger Dr - Surprisingly private setting with lots of green, older home, good floorplan with sunroom - $749,000

Should you be interested in any of these properties, just let me know (707.486.2638)

Mirjam

 Just to let everyone know that 2 offers were received this weekend for this property. If you are sitting on the fence, please be sure to call Mirjam to throw your offer on the table…..we had brisk traffic Saturday and Sunday. Scroll down and see the website on this property.

Important matters for those buying or refinancing are the “closing costs” on a property. Closing costs on all types of loans vary from state to state. Important considerations to those borrowers that are worried about “closing costs” comes from today’s newsletter from the Mortgage Lenders Association. This gives us a some interesting information on what states charge:

Which States Have the Highest Closing Costs?
Realty Times (07/23/07) ; Evans, Blanche
“New York has the most expensive closing costs in the country at $3,830, according to an annual report from Bankrate.com, but a borrower taking out a $200,000 mortgage in Indiana would pay an average of $2,339–or $1,491less–for origination, title and closing costs. Topping Bankrate.com’s report for the third straight year, New York was followed by Texas; while Florida, Pennsylvania and Ohio followed number three-ranked Indiana. The national average in closing costs is $2,736, with 24 states and the District of Columbia having higher closing costs and 24 states having closing costs that are lower than the national average. Kickbacks and undisclosed referral fees have been problems for the closing industry, and some lenders are now introducing flat-fee pricing or products carrying no fees and no mortgage insurance in an effort to lower closing costs.”

Please be sure to ask your Title/escrow/lender companies if they offer any discount to any borrower that had purchased the property during the last year. In my experience I am finding that some title/escrow companies are willing to discount over 33% to the borrower on a subsequent refinance! Just ask….!!

Hope you all had a great weekend? Weather in the wine country was glorious. If you are looking for a great restaurant check out SADDLES, in the quaint town of Sonoma. We ordered burgers all around since they are know for their great beef. Earlier we had seen the newest flick “Goya’s Ghost”. This is a “must see” for those interested in artsy movies based the real life of famous artist and the times they lived in.

Denise

Check out the following properties:2625 Spring Oaks in Santa Rosa, 164 Cordoba Way, Windsor, both are great homes in super neighborhoods.

I will be at Spring Oaks today from 1-4pm and Mirjam will be at Cordoba Way on Sunday. We look forward to seeing you!!

 One of the best resources for a professional in real estate is from the Mortgage Banker’s Association (see http://www.mbaa.org/It also provides great information for your educated buyer to understand what the “pros” are saying.

Soooo today in the News we see

Fed Chairman Vows to Curb Mortgage Abuses
Charlotte Observer (NC) (07/20/07); Aversa, Jeannine
In testimony before the Senate Banking Committee on Thursday, Federal Reserve Chairman Ben Bernanke said the central bank is looking into ways to protect home buyers from predatory lenders. Under consideration are enhanced disclosures as well as restrictions on the use of prepayment penalties and mortgages with no income verification. Bernanke speculated that credit losses tied to delinquent subprime mortgages ultimately could reach as high as $100 billion. Despite the central bank’s plans, Sen. Charles Schumer, D-N.Y., insisted that federal legislationis necessary to protect consumers and “prevent this subprime mess from happening again.”

My commentary:

I believe that soon the entire industry of Mortgage lenders will have to be licensed or certified as our real estate professionals are in every state. Oftentimes when the market is great–low interest rates, lots of buyers, some individuals from other industries like retail, services or even manufacturing fill the local junior college real estate classes because they are looking for the “quick buck” in real estate sales or mortgages. We are seeing those individuals leaving the market, thank goodness, and the dedicated professionals staying.

Read this….Mozilo: Pain to Last Until ‘09
American Banker (07/20/07); Berry, Kate
The mortgage market probably will not recover until 2009, according to Countrywide Financial Corp. Chairman and CEO Angelo Mozilo, who originally thought a rebound would occur next year. Mozilo believes a decline in interest rates could be a positive consequence of problems in the subprime mortgage market. However, he is worried about excessive regulation in response to the market’s ongoing weakness, which would dry up creditat a time when borrowers need to refinance out of adjustable-rate mortgages. “A lack of liquidity will kill you instantly, and that’s the issue we’re facing today,” Mozilo remarked.

My commentary….

I think this opinion swings widely from area to area. Certainly in areas of CA, NV and AZ we are seeing an extended softness in the market….however in the Wine Country the appeal is still strong. Great time to buy…..don’t sit it out. Be sure to visit are previously listed OPEN HOUSES this weekend! because

Please read on…..

30-Year Mortgage Rates Remain Near Yearly High
San Jose Mercury News (CA) (07/20/07); Crutsinger, Martin
The 30-year fixed mortgage rate held steady at 6.73 percent this week, which Freddie Mac chief economist Frank Nothaft attributes to recent economic data failing to have any impact on inflation forecasts. The five-year adjustable mortgage rate also stayed firm, averaging 6.35 percent. The 15-year fixed mortgage rate slipped a notch to 6.38 percent from 6.39 percent, while the one-year adjustable rate bumped up to 5.72 percent from 5.71 percent. The 30-year fixed rate was 6.80 percent at this time last year, while the 15-year rate stood at 6.41 percent and the five-year and one-year adjustable rates at 6.36 percent and 5.80 percent, respectively.

My commentary….

These are NOT bad rates. Some of us remember the days of double digit interest rates. My home was at 16% in 1981 and both my husband and I had six figure incomes and we could barely qualify…so let’s keep this in perspective!!!

Take time this weekend to drive up to see us? Enjoy some sun, some wine and remember that Mirjam and I would like to see you at our open houses!!

Denise had mentioned in before that you should Buy Buy Buy in Sonome County.

There was an interesting article in the Business section of the Press Democrat today:

“Rents inched higher in Sonoma County during the second quarter as apartment vacancies tightened, according to a report issued Wednesday.
The vacancy rate fell to 4.5 percent in the second quarter, down from 5.2 percent a year ago. The average rent increased to $1,140, a 2.6 percent hike over $1,111 a year ago, according to RealFacts, a market survey and investment services company based in Novato.
Apartments have been steadily filling up in Sonoma County, the result of job growth and the continuing housing slump. As home prices fall, more families are staying in apartments instead of buying a home while they wait for the housing market to level off. Even with the decline, most rents are still cheaper than monthly mortgage payments.Across the Bay Area, 3.8 percent of apartments were vacant in the second quarter, the same as a year ago. The average rent rose to $1,489, up 8.3 percent from $1,375 a year ago.
– Kevin McCallum”
This means good new for investors, with rents going up and the tremendous buyers market we currently experience. Time to ad to your Real Estate Portfolio. Mabye a duplex unit, they tend to have long term tenants so less overhead. Some examples in Bennett Valley: a duplex on Lyn Ct and one on Hilliard ct, both are cull de sacs of Hoen Ave. For more info, just contact me.

Mirjam

Realtor Magazine today had an interesting article about something that is confusing for buyers and sellers. Confusing prequalification with preapproval can mean disappointment for both a home seller and a buyer.
It’s smart for buyers to become preapproved by their lender – not just prequalified.
To obtain a bona fide preapproval, you must submit a loan application with the necessary documentation and fee. After the lender verifies and analyzes the application, it will notify you -the applicant- of how much money you can afford to borrow. This usually means a few hours work for both buyer and lender. But armed with that information, the buyer can confidently go home shopping.

Prequalifications are simply an estimate of what a buyer can afford. A buyer who assumes that this estimate is accurate and chooses a home based on the information may, in fact, be denied a loan when he actually applies, a situation that wastes his time and can put a seller in an a bad position if they’ve already turned away a qualified buyer. And, of course it wastes the real estate practitioner’s time as well.

There are terrific buys out there right now. Anyone who has been thinking about purchasing a property should do so right now. Check out the following properties:2625 Spring Oaks in Santa Rosa, 164 Cordoba Way, Windsor, both are great homes in super neighborhoods.

Mirjam de Rijk

WOW! we had a great afternoon last Sunday at 2625 Spring Oaks Drive. There was a lot of interest in the house, more than expected. There were a lot of wine events that attracted a lot of people and the coming weekend will be the same. After a round of golf at the Bennett Valley golf course coming Sunday, just come by and see this wonderful house.
So many are taking advantage of the holiday weekend and are spending their leisure time with good food and wine. After all the commotion about the new iPhone that came out last weekend, they sold over 500,000 last weekend. This week will be perfect to take a break and enjoy the new gadget, finding the wineries will be a breeze!
So coming weekend we’ll have the home open again and look forward to an other great afternoon in Bennett Valley.

Mirjam de Rijk

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