Will the City of Santa Rosa’s New ADU Rules make adding a 2nd Unit Easier? Tune in to find out.

David Guhin, City of Santa Rosa, CA Director of Planning and Economic Development will be on the show to discuss the State’s new requirements, and how cities are now required to make changes allowing for an easier, less restrictive process for adding an ADU (Accessory Dwelling Unit) to your property. More City of Santa Rosa info here

Tune us in at 9-10AM on KSRO 1350AM, 103.5FM and streaming live at KSRO.com.  Call in numbers are 707-636-1350

Search here for Santa Rosa homes for sale with granny unit, 2nd Unit, or ADU, or room to potentially add one? 

Missed the Show? – Listen HERE

 David GuhinDavidGuhin Director of Planning and Economic Development

City of Santa Rosa

 

Mr. Guhin has over 17 years of experience in the public sector, most of which has been with the City of Santa Rosa’s Water Department. In July 2015 Mr. Guhin was asked to lead the former Community Development Department through a series of strategic changes. His first tasks were to tackle the organizational changes that would create the new and revitalized Planning and Economic Development Department and to engage staff in visioning, developing, and implementing a comprehensive Process Improvement Action Plan aimed at positively altering the experience of doing business with and for the City.

Mr. Guhin’s areas of reasonability includes the Planning, Engineering, Building and Economic Development functions for the City of Santa Rosa.   In his time with Planning and Economic Development, Mr. Guhin has established the ongoing process improvement implementation, integrated the Engineering Development Services and Economic Development Divisions into the department, guided the development of the Housing Action Plan, and is leading the development of the City of Santa Rosa’s comprehensive policy on medical cannabis.

Mr. Guhin holds a Bachelor’s of Science degree in Engineering from the South Dakota School of Mines and Technology, and he is a Registered Professional Engineer in the State of California. Mr. Guhin’s recent community involvement includes being Past President for the Redwood Empire Food Bank, and he was the co‐chair for the Amgen Tour of California local organizing committee and has helped to bring the Ironman to Santa Rosa for the next 5 years.

David M. Guhin | Director

Planning and Economic Development

100 Santa Rosa Avenue | Santa Rosa, CA 95404

Tel. (707) 543-4299 | Mobile (707) 687-8806 | dguhin@srcity.org

 

Queen of Stagers! Denise Frye–Make Your House a Home. LIVE this Sunday!

DeniseOur delightful friend of the show and Queen of Stagers, Denise Frye, will be joining us to answer questions on home staging when selling a home. As Sellers are pondering selling during the upcoming spring marketplace, now is the time to ask Denise those tough questions on painting, decluttering, moving out and staging your home to sell? This and more!

Interest Rates 4.25% and a tad shaky!

Current Mortgage Rates for SONOMA COUNTY, CA

I hope you are having a great day! I’ve included below a selection of current rates for a few of our many products. I’d be happy to discuss options with you and your client based on their particular needs.

Conforming

Loan Type MI Type Interest Rate APR
5/1 ARM Conforming 3.625% 3.903%
30-yr fixed Conforming 4.250% 4.310%
FHA 30-yr fixed MIP 4.250% 5.001%
VA 30-yr fixed 3.875% 4.011%
15-yr fixed Conforming 3.750% 3.818%

Non-Conforming

Loan Type MI Type Interest Rate APR
5/1 ARM Non-Conforming 3.375% 3.800%
30-yr fixed Non-Conforming 4.000% 4.023%
VA 30-yr fixed 4.000% 4.126%
15-yr fixed Non-Conforming 3.750% 3.791%

Information displayed is accurate as of 1/13/2017 1:19:53 PM (CT) and is subject to change without notice.

For information on the many other loan options we have available, please contact Erik Oquist below:

 

Erik Oquist

Home Mortgage Consultant
Residential Lending
NMLSR ID 447900

Wells Fargo Home Mortgage | 600 Bicentennial Way, Suite 200 | Santa Rosa, CA 95403
MAC A0626-020
Tel 707-535-2655 | Cell 707-889-5626 | Fax 866-617-5206 | Toll-Free 877-534-1810

erik.oquist@wellsfargo.com | http://www.erikoquist.com

Sales for November of 2016 Sonoma County, California

Heading into the Holidays with low inventory and weak sales.
Heading into the Holidays with low inventory and weak sales.

Here’s the “Tale of the Tape” for home sales, Sonoma County, California, November 2016.

Median home price is up 9% over last year at this time but this is due to the tight inventory market, buyer demand and rates on the rise. As of this writing, December 7, 2016, rates are hovering just at 4 to 4.25%. So the threat of rising rates is bringing those looking to the table. It should be noted we have only 575 “Active” listings for every town in Sonoma County–all price points. Slim pickens

While the median SOLD price is $575,000, the “On the Market” median home price is $749,00. This means of those 575 homes half are below and above that number. Sales are actualy up +2%, or pretty darn close to “Flat” year over year. The “Solds” for 2016 never broke 500 sales in any month. Last year we had two months of 500+ sales.

An indicator of things to come is the “Under Contract” numbers which are down -8% over last year. But this is also seasonal as the slowest months of the year are upon us. Inventory is as you’d expect–down. New properties entering the market -6% and total inventory down -15% year over year.

Positives? DOM or Days on the Market is down -33%! 50 days is the time and our MSI or Month’s Supply of Inventory is only 1.8 months. Put this in context: a “normal” market is 4-6 months supply, under that its a Seller’s market. We have a BIG TIME Seller’s Market!

Here in Sonoma County,Ca our inventory is very tight and days on the market down to 50!
Here in Sonoma County,Ca our inventory is very tight and days on the market down to 50!

Still, if you are a buyer keep at it! Especially if you are below the median home price of $575,000. Less competition and motivated Sellers are a good combination for you! Let us know if we can help! 707-322-8503! Mike Kelly.

 

 

Santa Rosa is Lucky #13 of the top 20 Markets in the Country!

Realtor.com came out with their 20 Hottest real estate markets in the nation. 11 of these are in California and we’ve added two NEW spots–Eureka and Fresno. Eureka is way up north on the coast of California. Isolated, older fishing community but it is very affordable as is Fresno which is in the “Valley”.  “Valley” properties in the greatest state of California are fairly depressed and still have higher percentages of distressed homes. They have yet to get even close to their pre-bust highs. If you look at the top lists you’ll see 4 of these hottest market are in the California interior valleys—Sacramento, Stockton (at one time ground zero for the distressed market in California), Modesto and Fresno. What they all have in common is affordability. Median priced homes in these areas range from $270,000 to $317,000. Compare these prices with Santa Rosa (#13 on the list with a median price of $597,500).

Top "Hottest" real estate markets in the nature--Santa Rosa is lucky 13!
Top “Hottest” real estate markets in the nature–Santa Rosa is lucky 13!

  Continue reading Santa Rosa is Lucky #13 of the top 20 Markets in the Country!

Purchasing Real Estate and other investments through your IRA or SEP IRA.

IRA Investor Specialist
IRA Investor Specialist

Entrust Investments

Special show October 23rd for all investors and IRA or SEP IRA holders. Below is our guest speaker Bill Neville. Do you know you can buy investments THROUGH your IRA? Gain is NOT taxed? But there are procedures that absolutely MUST be adhered to. We’ll discuss this great program with our IRA specialist.

Bill Neville, Business Development Manager

About Bill Neville, Business Development Manager

Bill Neville joined The Entrust Group over five years ago through his initial role as Manager of Operations for the company’s franchise program.  When the program was discontinued, Bill stepped up to the task of managing the Compliance and Internal Audit departments. With a keen eye for detail and gaining valuable insights into the IRA industry, Mr. Neville kept Entrust’s educational programs and internal processes in line with industry regulations. Bill actively takes pride in the company’s growth and success, and is currently the Business Development Manager for Entrust’s San Francisco Bay Area office.

Certified IRA Services Professional (CISP)

bneville@theentrustgroup.com

t 800.392.9653 x237  |  d 510.587.0950 x237  |  f 510.587.0960

The Entrust Group | 555 12th Street, Suite 1250 | Oakland, CA 94607

 

Wow! Rates Dropped Again! Jumbo cheaper than Conforming.

Rates are so low it’s Xmas in October!

Low Rates early Xmas Present!
Low Rates early Xmas Present!

Conforming

Loan Type MI Type Interest Rate APR
5/1 ARM Conforming 3.000% 3.523%
30-yr fixed Conforming 3.375% 3.432%
15-yr fixed Conforming 2.875% 2.977%

Non-Conforming: Over $554,300

Loan Type MI Type Interest Rate APR
5/1 ARM Non-Conforming 2.625% 3.378%
30-yr fixed Non-Conforming 3.250% 3.272%
15-yr fixed Non-Conforming 3.000% 3.040%

Information displayed is accurate as of 9/30/2016 2:59:57 PM (CT) and is subject to change without notice.

For information on the many other loan options we have available, please contact me. I look forward to hearing from you.

 

Erik Oquist

Home Mortgage Consultant
Residential Lending
NMLSR ID 447900

Wells Fargo Home Mortgage | 600 Bicentennial Way, Suite 200 | Santa Rosa, CA 95403
MAC A0626-020
Tel 707-535-2655 | Cell 707-889-5626 | Fax 866-617-5206 | Toll-Free 877-534-1810

erik.oquist@wellsfargo.com | http://www.erikoquist.com

“Serious” Default rates still dropping! Good News-Equity has returned.

 

From our friends at CalculatedRisk.com. The number of “Serious” defaults or those 90 days in arrears is dropping steadily. At this rate 8 months from now we’ll be “back” to normal!

Serious Defaults dropping steadily.
Serious Defaults dropping steadily.

Bill McBride on 9/29/2016 05:09:00 PM

Fannie Mae reported today that the Single-Family Serious Delinquency rate declined in August to 1.24%, down from 1.30% in July. The serious delinquency rate is down from 1.62% in August 2015.
These are mortgage loans that are “three monthly payments or more past due or in foreclosure”.
This is the lowest rate since April 2008.
The Fannie Mae serious delinquency rate peaked in February 2010 at 5.59%.
Although the rate is generally declining, the “normal” serious delinquency rate is under 1%.
The Fannie Mae serious delinquency rate has fallen 0.38 percentage points over the last year, and at that rate of improvement, the serious delinquency rate will not be below 1% for about 8 more months.

Read more at http://www.calculatedriskblog.com/2016/09/fannie-mae-mortgage-serious-delinquency.html#yAbZZRls8lYSAVGG.99

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