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Wine Country Pinot Noir Vineyard Estate

4048 Barnes Road, Santa Rosa

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Located in the famed Russian River AVA, this all useable 8.25 acre property has 5.65 acres planted to Pinot Noir and under contract to Duckhorn and Gundlach Bundschu Wineries. Single level home of 2250 sqft with “great room” concept would make an ideal weekend place or even a VRBO (check with local zoning for approval). Property is adjacent to the  “Vintner’s Inn” vineyards of approx 81+ acres and the destination resort and world class John Ash Restaurant Price is $1,890,000

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Looking South East–shopping 10 minutes away. Other vineyards in area evident.

Great Room with island kitchen

Above, “Great Room” concept with island and gleaming hardwood flooring underfoot! Double sliders to huge deck overlooking vines and garden area.Office or family room

Family room with slider to deck.Single level living Grapes use Lyre System Great Utility barn

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

“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

1031 Tax Deferred Exchanges THIS Sunday on the Real Estate Hour!

We are very pleased to have on the show once again Toni Esposti, long time facilatator for exchanging real estate property via IRS code 1031. This video was done on her last broadcast. I run it as the code for IRS 1031 doesn’t change all that much. The concepts are simple–deferring your taxes on the sale of an investment property as you use equity to build wealth. Eventually you will pay the IRS but hopefully at much cheaper dollars. Using “Deferred Exchanges” and other scenarios, Toni will explain the mechanics of all. Stay tuned as the steps needed to complete a successfuly IRS 1031 Exchange are implicit in an Exchange.

NEW!! Now COMPARE your current community to WHERE you are moving!

NEW!! Now COMPARE your current community to WHERE you are
moving!

Community Reports allow you to check on Population, Households, Housing, Transportation, Income, Employment, Net Worth, Cost of Living. Just put YOUR current zip code and the zip code of the new community and a full report will appear.

communityhttp://www.topmarketer.net/CSR/CSReport.aspx?3PLJ8BEWIYMP

This is a great way to compare your current and new neighborhood….or, compare two different neighborhoods you and your family are considering.
Mike Kelly & Allison Norman
“The Kelly-Norman Team”

Disturbing News on Santa Rosa’s Housing Stock!

 

The Napa earthquake showed us all, in graphic detail,  what happens when homes are NOT retrofitted for earthquake safety. Here in Sonoma County we have many homes built in the late 1800’s through the 1940’s. The issue with this is “cripple walls”. These walls were used extensively in building during these years. Below is a diagram showing what they look like and what happens during a severe earthquake. The “ladder” type wood under the foundation are the cripple walls. The house has literally “Tipped” off of its foundation.  Here is a breakdown of how many homes may have this construction characteristic JUST in Santa Rosa! Remember, the hardest hit area in the last “BIG ONE” of 1906 was Santa Rosa.

Year Built:                       Amount of Homes

1900-1910                     509

1911-1920                     561

1921-1930                     854

1931-1935                    288 (great depression)

1936-1940                    796

1941-1945                    572

That’s 3, 580 homes which could suffer severe damage in a 6+ sized earthquake.  However, we do have simple remedies to this issue. One is to retrofit the cripple walls with “sheer” walls of 3/4 inch plywood. Also, you can bolt the foundation sole plate down, install brackets which hold the home together as a unit. But DON’T delay!!

Diagram of a house resting on cripple walls and the failure of these walls to support the house.
Diagram of a house resting on cripple walls and the failure of these walls to support the house.
Cripple walls fail and literally "tip" the house off of its foundation.
Cripple walls fail and literally “tip” the house off of its foundation.

This Week’s Show Guests-Mike Runyan from Re-Store-Home Improvement Outlet Store! Benefits Habitat for Humanity

 Tomorrow’s show will be featuring the unique store called, “Re-Store” which touts itself as a “Home Improvement Outlet Store”. The store now has as a manager Mike Runyan who you may recall owned “Food 4 Less” and more recently “Skyhawk Market Place”. He is also a former City Council person from Santa Rosa. Mike brings his considerable retail expertise to Re-Store.  Alli and I took a tour of  Re-Store and found it a fun place to shop.  Re-Store sells new, used, and surplus donated goods at greatly reduced prices to the general public. 100% of the profits support Habitat for Humanity of Sonoma County. Continue reading This Week’s Show Guests-Mike Runyan from Re-Store-Home Improvement Outlet Store! Benefits Habitat for Humanity

Our Guest Today–John Sutter–2nd appearance-Winterizing your Home–HERS Audits? Sonoma County Homeowners take note!

Home Energy Rating Systems or HERS will be our topic today with return guest John Sutter ownner of ABS (Applied Building Science) Building Performance Contractor–For Energy related construction, applications and auditing. 707-528-3468 or direct: 707-703-5244  jsutter@absnorthbay.com

What is a Home Energy Rating?

A home energy rating involves an analysis of a home’s construction plans and onsite inspections. Based on the home’s plans, the Home Energy Rater uses an energy efficiency software package to perform an energy analysis of the home’s design. This analysis yields a projected, pre-construction HERS Index.

Upon completion of the plan review, the rater will work with the builder to identify the energy efficiency improvements needed to ensure the house will meet ENERGY STAR performance guidelines. The rater then conducts onsite inspections, typically including a blower door test (to test the leakiness of the house) and a duct test (to test the leakiness of the ducts). Results of these tests, along with inputs derived from the plan review, are used to generate the HERS Index for the home.

Unlike a Building Performance Audit or a weatherization assessment, a home energy rating is a recognized tool in the mortgage industry. Home energy ratings can be used in a variety of ways in the housing industry. Since a rating quantifies the energy performance of a home, the HERS Index provides an easily understandable means to compare the relative energy efficiency of different homes.

 

HERSIndex

Want to BUILD YOUR EQUITY? Accelerate your LOAN PAY-OFF! Benefits of 15 Year payoff!

The next 4-7 years may see a virtually “Flat” appreciation rate with perhaps small baby-steps of increases. How to build equity other than appreciation–how about the OLD FASHIONED WAY? Equity Build up by paying DOWN your mortgage. Novel concept huh? Check out the numbers below between the rapid pay-off 15 year old (remember, shorter the amortization period, the QUICKER your loan will be paid off but the HIGHER your monthly payment will be) and the longer, traditional 30 Year Amortization schedule. It’s pretty dramatic to say the least!

15 Year Amortization Schedule

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30 Year Amortization Schedule

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These payments are based on a $300,000 loan amount.  The  15 Year Amortized loan  is at 3.75% .  The 30 Year Amortization loan is for 4.25% MAJOR  difference between 15  year vs 30 year amortization schedules? Your monthly payment is approx 31% HIGHER or in this case $705.85 more per month as it has a  shorter time (15 year) BUT the savings of the quicker pay-off schedule are breathtaking! At the end of 5 years you will owe 71% of your beginning balance with the 15 year loan—the 30 year? You’ll still owe 90.5%!! Or at the end of 5 years with a 15 year loan you’ll have dramatic equity BUILD UP (very crucial in a flat market!) of $84,973 vs. $28,601 with a traditional 30 year loan! That’s a whopping $56,000+ difference! Continue reading Want to BUILD YOUR EQUITY? Accelerate your LOAN PAY-OFF! Benefits of 15 Year payoff!

Our Interest Rate guy: Pete Phillippe–Stunning Interest Rates for Sonoma County Buyers!

Pete’s latest rates at Princeton  Subject:  Interest Rates!

 Who are the 9 big loan servicers? By the end of the 2’nd quarter, B/A was #1 with 2.2 trillion, Wells at 1.8 trillion, Chase at 1.4 trillion, Citi at $700 billion, Ally/Gmac at $400 billion, US Bank at #200 billion, Sun Trust at $175 billion, PHH at $155, and PNC at $150 billion . The big get bigger, as institutions are “absorbed”with fewer choices the result    40 day locks!!!!

To $417,000 4 % 30 yr fixed 1 pt or 4.25% 0 pts      To $662,250 4.25% 30 yr fixed at 1 pt

15 yr to $417,000 3.75 1 pt   ( remember, condos will have a .75pt “hit” on pts. They have more “risk”)

Shot-Term Money? Going to buy at the bottom and be a profit taker 4-5 years down the road? Then look at the rock-bottom “Adjustable” rate mortgages!!    3.5% 1 pt  to $417,000  for a five yr fixed then a 1 yr adjustable , to $662,250  , 3.75 1 pt Continue reading Our Interest Rate guy: Pete Phillippe–Stunning Interest Rates for Sonoma County Buyers!