All posts by Allison Norman

Trust and Estates Attorney, Janne O’Neil, 20th Anniversary as Guest on our Show!!

Long time friend of the Real Estate Hour, the attorney who did my own trust , Janne O’Neil celebrated 20 years coming on the show on Memorial Day weekend of this year. Wow! We both looked at each other and said–20 years? Holy Toledo (or words to that effect!). If you’ve not heard Janne speak before she is very measured and takes her time delivering her answer. This is how she works. Something we all need in a good attorney.  Janne works with Trusts and estates plus probate.  She is a fabulous Elder Law Attorney “compassionate, experienced Advocate who will fight for your rights!”

Mike and Janne 20th Year coming on the show

2300 Bethards Drive
Santa Rosa, CA 95405
Phone: (707) 577-8805
Web: www.rlslawyers.com

Interest rates this week still Spectacular! 7/1 Arm 3.25%, Jumbo Money3.875%

Here in the lovely “Wine Country” housing market you can’t be complaining about the interest rates! If you are retiring in 7 years and perhaps moving to another area then hook onto a refinance as your rate would be 3.125% Wow! Or opt for a 15 year loan and enjoy super low rates and rapid equity build up.

Otto Kobler loan representative.
Otto Kobler loan representative.

Interest Rate Update: Memorial Day Weekend Jumbo Money 3.75% !

Once again we see the “Jumbo” money a 1/4 point or 25 basis points, under the conforming loan level which is now 4%. Either way, pretty spectacular interest rates. Now if you could just find a home to buy!

Rates provided by Erik O'quist from Wells Fargo Home Mortgage

Rates provided by Erik O’quist from Wells Fargo Home Mortgage

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

loan Originations running Wild! But ONLY 28% from the Peak.

LoanOriginations

The above graph shows total loan “originations”.

“A strong fourth quarter finish to the year pushed total 2016 origination volumes to the highest level seen in nine years,” said Graboske. “We’ve now seen nine consecutive quarters of double-digit purchase origination growth, and growth overall in the purchase market in 21 of the past 22 quarters. The $2.1 trillion in first lien mortgages originated throughout the year represented a 17 percent increase over 2015, stemming from a 22 percent jump in refinance lending and a 13 percent increase in purchase loans. This was the second straight year of double-digit growth in purchase lending, which hit its highest yearly total since 2006 at $1.1 trillion. As good of a year as it was for purchase lending, it was still 28 percent off the peak volume seen in 2005. Refinance lending was up 22 percent, while purchase originations rose 13 percent

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!

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