Rent Control and “Just Cause” evictions–Points to Consider–this Sunday’s Topic

For or Against Rent Control? Here are some points to consider and express to the City of Santa Rosa Council meeting May 3rd—Public Meeting at City Hall.
We are please to have Daniel Sanchez, Government Affairs Director, of the NorthBay Association of Realtors to talk about these timely issues before the City of Santa Rosa takes action on May 3rd at the Council Meeting. 
Just Cause:—What is it?  Under just cause eviction, a tenant can only be evicted if the landlord can prove that the tenant is violating the lease, breaking the law or if the landlord must move themselves or a family member into the unit.
  • Any type of rental can be eligible for just cause, including single family homes.
  • Just cause eviction ordinances would require rental owners to prove “cause” in court, or in some cases before a political body, every time they need to remove a problem resident, such as a drug dealer, or violent criminal.
  • Proving cause in court or by going before a board or commission is hard to do and unfair. The legal process is costly and time consuming. Rental property owners would have to depose and subpoena other residents to testify.
  • Because removing a problem tenant requires going to court, these ordinances tend to clog the court system.
  • Santa Rosa should focus on educating renters on their protections under state law, instructing owners on their obligations, and enforcing the laws we have.
  • Santa Rosa should provide a forum for owners and residents to resolve disputes in a neutral setting — not in a court, not in the political setting of an eviction board, and certainly not with a host of new laws and regulations.

Continue reading Rent Control and “Just Cause” evictions–Points to Consider–this Sunday’s Topic

Putting today’s market into context.

Below is a graph with some very interesting stats which give me pause and commentary. This is a look going back 10 years to the wild and crazy pre-“crash” days of yore. The first thing which amazes me is the amount of homes for sale vs. today. 8,230 listing  3rd qtr of ’07 vs. this past quarter’s measly 1393.

 

1stqtr05vs1stqtr2016

The MSI or Month’s Supply of Inventory, is another indication of a fast, tight market. From 11.7 months supply (big Buyer’s market), 1st qtr of ’08 to 1.8 months supply 1st qtr of this year. New listings per quarter? Past quarter is the lowest in 11 years. Yeah, where are all those listing!?

Upcoming Guests soon to the Real Estate Hour.

Roy joined us and discussed trusts, wills and probate. Interesting and timely show.
Roy joined us and discussed trusts, wills and probate. Interesting and timely show.

The longest running real estate talk show, now into its 20th year, is booking very interesting and timely guests in the weeks and months to come. Coming May 1st, Roy Johnston, attorney, speaking on the new form of real estate ownership which has a very simple, perhaps too simple, Deed. He’ll speak on this plus OTHER issues of taking title to real estate, probate process and other trust issues. Continue reading Upcoming Guests soon to the Real Estate Hour.

Weekly Interest Rate update, Courtesy of Otto Kobler of Summit Funding

Mortgage Rates for March 11, 2016

FIXED AND ARM CONVENTIONAL PROGRAMS RATE         APR
30 Year Fixed Conventional 3.875%      4.040%
15 Year Fixed Conventional 3.125%      3.265%
5/1 LIBOR ARM Conventional 3.875%      3.963%
7/1 LIBOR ARM Conventional 3.750%      3.803%
———————-
JUMBO PROGRAMS ($417k +) RATE          APR
30 Year Fixed 3.750%       3.967%
15 Year Fixed 3.500%       3.259%
5/1 LIBOR ARM 2.875%       2.972%
7/1 LIBOR ARM 3.250%      3.411%
————————
FHA/VA FIXED PROGRAMS RATE          APR
30 Year FHA/VA 3.500%      4.647%
15 Year FHA/VA 3.500%      4.910%

Continue reading Weekly Interest Rate update, Courtesy of Otto Kobler of Summit Funding

Homes Available by Price Bracket-National vs. Sonoma County.

Here in the “Wine Country” of Sonoma County, California–home availability is very tight and our price brackets for homes do NOT reflect very well for affordability when compared to the overall nation. See the graph below.

SalesPricePointDifferenceFeboverFeb2016

Yes, there are places in the nation where homes/condos are readily available for UNDER $100,000. And you’d be very surprised how much home you can get up to $250,000. In Sonoma County it is slim to none and slim just left town. Our big price point is $500,000 to $750,000 followed by the next highest price bracket. The age old question of affordability–where do all the service folks, teachers, police officers, fireman, find a home without breaking the monthly budget? Tis the question!

The Real Estate Hour, Sundays 9 to 10am pst, NOW broadcasting on Periscope!

Our Sunday, 9 to 10am pst, Real Estate Talk Show is her on “terrestrial” radio 1350AM KSRO and 103.5, also streaming live at www.KSRO.com and NOW broadcasting live Video via “Periscope” which is a mobile app for your Iphone, Ipad or Droid ONLY. So you can listen and now SEE us do the show. Kinda fun! Always great information on the latest and the greatest in the Bay Area Real Estate Market.

Bubble? Not with this lack of inventory–but affordability woes persist.

Here in Sonoma County, California, “The Wine Country”, we are seeing persistent scarce homes to sell and lack of affordable homes is raising its ugly little head. The only category where sales are out-performing last year is in two price categories: $500 to $750K and $750 to $1,000,000K. These are for detached single family houses.

SalesPricePointDifferenceFeboverFeb2016

Boomerang Buyers-Default,Deed-in-Lieu,Loan Mod,Short-Sale, Foreclosure, or BK’s?

If you’ve had any of the adverse credit events mentioned above then you need to re-check your eligibility for obtaining a home loan. This chart below is a great guide:

Homeowneraferadversecredit

 

Perhaps you did a BK to stop a foreclosure. If it’s been officially resolved then check the chart below as you might be able to now SELL that home and move down OR up. Continue reading Boomerang Buyers-Default,Deed-in-Lieu,Loan Mod,Short-Sale, Foreclosure, or BK’s?

Questions on Senior Care? Are you taking care of a loved one with Dementia? Marilyn Barnes of Senior Helpers is this weeks featured Guest!

We are delighted to have back on our show , Marilyn Barnes of Senior Helpers. This Sunday, February 21st.

About Marilyn Barnes / Senior Helpers North Bay: Non medical in home care. Providing full service with flexible hours to give our clients and families peace of mind. We specialize in Dementia care. We do specialized companions for weddings, graduations & travel.
Marilyn Barnes of Senior Helpers
 You can contact Marilyn when You need a trusted referral Need an introduction for a good service provider? Ask Marilyn! She has  collected a network of business providers that she knows and can confidently recommend and introduce.  For referrals Marilyn uses The Sonoma County Executive Association as should you!  Do you know someone that might need her services? Referrals and introductions to new customers are the cornerstone of her business. Contact Marilyn when you need a quality referral or introduction, or when you know someone that might need or benefit from her services. Here is her contact information.
mbarnes@seniorhelpers.com 
Marilyn Barnes
525-1540

Open House THIS Sunday, February 21st 1 to 4pm ! 1200 Halyard Drive, Santa Rosa,Ca 95401 Traditional Beauty.

VWN_3885-f VWN_3914-f VWN_3964-f VWN_3929-f VWN_3899-f VWN_3896-f  This stunning traditional home is back on the market and OPEN this Sunday–All reports NOW on file! 4 bedrooms and 3 FULL baths the home has 3 bedrooms upstairs and one bedroom down wit adjacent full bath and exterior door–perfect “Multi-generational” living or for guests who savor their privacy. Kitchen new flooring in a rich brown with matching entry statement. Home is over 2100 sqft and has enormous living room with adjoining Dining area big enough for your Grandma’s sideboard, hutch and dining table and chairs. A big sectional would be swallowed up in the living room. Kitchen has newer appliances, flooring and is adjoins the family room with fireplace. Breakfast bar serves your hurried mornings or quick lunches. Yard has gate for ez acess  and patio for al fresco dining. Priced to sell at: $560,000. Join Allison THIS Sunday, February 21st from 1 to 4pm.

Listen to Mike and Allison on "The Real Estate Hour", Sundays, 9 to 10am PST, KSRO, 1350AM or 103.5 FM and www.KSRO.com