Nov 07
0

Buyers beware

By | Buyers, Interest rates, Mortgage | 5 Comments

So you got pre-approved for a loan a few months ago and are home shopping on your leisure. Inventory is high (this morning we had 3182 active listings in Sonoma County), you have reason to take your time. Just a warning: it might be good to talk to your lender again and find out whether the loan program you got pre-approved on is still available under the same terms. In talking to lenders (Denise is on a trip this week) I do hear over and over again that a lot of programs are not available anymore.

Banks are tightening lending standards for home buyers, even those with good credit, loan officers report the increase in stricter mortgage underwriting standards  due to economic uncertainty, reduced secondary market liquidity, and less of an appetite for risk, according to the survey.

Even for prime mortgages, the terms are tightened in the prior three months for people with the best credit records. That was up from about 15 percent in the previous survey in July. About 60 percent of banks said they tightened standards on home mortgages classified as “nontraditional,” up from 40 percent in the previous survey. Should you be in the market for a new home, make sure you do your homework. Stay in touch with your lender and even more, stay in touch with your Realtor. They are there to help you. 

But don’t worry, mortgage rates are still very reasonable and there are still plenty of programs available, just make sure you are educated about today’s market.

Have a great day!

 mirjamnew.jpg  Mirjam

Nov 07
0

Economic Outlook for Sonoma county

By | Sonoma County info | One Comment

For those that were unable to attend the recent presentation by Chris Thornberg please paste into your browser http://www.sonoma-county.org/edb/pdf/2007/thornberg_pres_20071102.pdf and read his overview of the local economy.  Not a pretty picture in the short term, however, better than many other parts of the nation.

We are very lucky that Sonoma has a very diverse economy and is not dependent on only one industry. Since I moved here in the early ’70s Government-state, federal and local have been the backbone of employment. Key employers like Medtronics, Santa Rosa Jr. College , Agilent, Kaiser, etc. provide a very broad- based, diverse industrial base . I believe that with all the issues facing the Bay Area in the next year, we will continue to be the least expensive property in the region that many will flock to and buy a little piece of the wine country.

Pls call me or Mirjam for any information that you may need to make an informed decision!

Denise

 

 

Nov 02
0

Quotes about Owning Real Estate

By | Buyers, RE Investing, Retirement, Sellers, Sonoma County info | One Comment

And you thought now is about the worst time to buy Real Estate let alone own Real Estate? Over priced, not worth it, etc etc etc. Let me share some quotes with you:

“A home is where a bad investment is” – San Francisco Examiner 1996. -> Average price of a home in San Francisco in 1996 was $250,000. Ten years later is was $750,000

“Financial planners agree that houses will continue to be a poor investment” – Kiplinger’s Personal Financial Magazine, 1993 -> Average home price around $190,00o

“If you are looking to buy, be careful. Rising home values are not a sure thing anymore” -Miami Herald 1985 -> Average home price around $120,000

“The goal of owning a home seems to be getting beyond the reach of more and more Americans”- Business Week 1969 -> Average home price around $ 25,000

“Houses cost too much for the mass market. Today’s average price is out of reach for two-thirds of all buyers” -Science Digest, 1948 -> Average home price around $ 7,000

Here it is, the history makes it clear: buying a home has always been expensive, first time home buyers have always been in a difficult spot, the first year is hard. However, rewards are there for those who take the challenge and go for home ownership.

Think of it, I don’t know how old you are, but the people who were starters in 1965, are retired by now, their home has become a nice nest egg…

Have a great weekend!

mirjamnew.jpg Mirjam

Nov 01
0

Aging in Sonoma County

By | Aging in Place, Retirement, Sonoma County info | No Comments

Since Sonoma County is one of the most beautiful places on earth to live (ask my hubby) people tend to stay around. I tend to think that people who live in a great environment live longer. Alas, when we get older, the home we live in might get to big and to much upkeep. The good news is that there are some great communities that cater to these needs.

Earlier this week, I had lunch at Merrill Gardens in Rohnert Park. A great retirement community that gives you the opportunity to get away from household chores and home maintenance. Entering the property, you immediately get a feeling of casual country living, of enjoying life. It’s on a beautiful location in Rohnert Park. There is a program every day with interesting things for everyone, go to the mall, do an art class etc.  Everyone gets his own email address and is encouraged to stay on touch with friends through email, they have computers to use for this in the country store/library. And, pets are allowed, that is, if they pass the initial interview. While Judy Goldman showed me around, I did see a few friendly dogs accompanying their owners.  The 1 bedroom apartments with a small kitchen have a great floor plan and they have some 2 bedroom apartment too. So you can cook in your apartment but you can also go to the restaurant for lunch or dinner. The food is great and there is have anytime dining.

Should you or one of your loved ones be thinking about moving into a retirement community, make sure to visit Merrill Gardens on Rohnert Park. Judy Goldman and Sandi Truesdell will be happy to show you around. Tell them I sent you!

Have a great day!

  mirjamnew.jpg Mirjam

Oct 30
0

November 2nd!

By | Sonoma County info | 4 Comments

California Outlook 2008: Where Do We Go From Here?
To see details of the November 2 breakfast with Dr. Christopher Thornberg of Beacon Economics, click on the link at the EDBwebsite or call. Seating is offered on a first-come, first-served basis for this often sold-out event.

 

RSVP RESPONSE FORM

Dr. Christopher Thornberg

CALIFORNIA OUTLOOK 2008:

WHERE DO WE GO FROM HERE?

Now that the real estate bubble has officially popped,

what comes next?

Friday, November 2, 2007 ???? 7:00 AM—9:00 AM ???? Hyatt Vineyard Creek Hotel, Santa Rosa

Registration: 7 – 7:30 am; Breakfast served at 7:30 am

Name _________________________________________________________________________________________________________

Please attach separate sheet for additional guest names and companies if paying for more than one.

Company/Affiliation: ________________________________________________________________________________________

Address _______________________________________________________________________________________________________

PO Box or Street City Zip

Phone ____________________________ Fax __________________________ E-mail ______________________________________

______ Reserve _____ table(s) of 8 at $475 each.

(Include separate sheet with guest names/companies.)

______ Reserve _____ seat(s) at $40 each.

Payment: MasterCard and Visa accepted, checks payable to the EDB Foundation, a 501(c)(3) organization, FIN# 94-3397043.

_____ You will receive my check in the amount of ________ by the deadline of October 29.

_____ Please charge my credit card in the amount of $ __________.

???? Visa ???? MasterCard cc# _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ Exp. Date: _ _ / _ _

Mo. Yr.

???? Billing address same as above or include billing address here:_______________________________________________________

Street City Zip

Name of cardholder: ________________________________________ Signature: _________________________________________________

For more information, call 707 565-7298 or email edb@sonoma-county.org.

Limited seating available on first-come, first-served basis.

To RSVP, please fax to 707 565-7231 or mail to address above. No refunds after reservation deadline.

Deadline: Monday, October 29, 2007