Category Archives: The Economy

David Guhin, Assistant City Manager, and Director of Planning and Economic Development for the City of Santa Rosa on The Real Estate Hour

David M. Guhin | Assistant City Manager/Director Planning and Economic Development Tel. (707) 543-4299 | dguhin@srcity.org

Tune in Sunday 3/24 ,      9-10am pst. on KSRO.

When it comes to government, economic development, and planning, in Santa Rosa, CA, David Guhin wears a lot of hats, so we’ve got a lot to talk about!! (Scroll down to a list of topics)

In addition to the Assistant City Manager duties, Mr. Guhin’s responsibilities include the City’s Planning, Building, Engineering and Economic Development functions.

Mr. Guhin has established ongoing process improvement implementations to expedite and enhance the development process, guided the development of the City’s Housing Action Plan, lead the development of the City’s comprehensive cannabis policy and tax initiatives, oversaw the Roseland Annexation process, and is developing an aggressive downtown housing initiative to encourage multi-family housing in the downtown core to support transit oriented development and the health and economic vitality of our downtown.

Mr. Guhin is also heading the rebuild effort for the City of Santa Rosa from the 2017 Tubbs Fire that destroyed approximately 3,000 homes in the City. 

Tune in 9:00-10:00am pst Sundays on KSRO, 1350am, 103.5/94.5fm and streaming live at ksro.com.

Continue reading David Guhin, Assistant City Manager, and Director of Planning and Economic Development for the City of Santa Rosa on The Real Estate Hour

Latest Interest Rate update: Fed Hiking? No? Yes?

Still looking good! All that “Fed” talk can’t change these great rates.

Otto Kobler,Branch Manager

NMLS ID# 225957 CA BRE ID# 00981742

p: 707-522-6300

e: okobler@summitfunding.net

w: http://www.summitfunding.net/okobler

3550 Round Barn Blvd., Suite 310 Santa Rosa, CA 95403

Branch NMLS ID# 379493

Nov 12th Guest: Richard “Dick” Dowd–Long time Engineer and Development Expert

Northern California Engineering Contractors Association Hall of Fame – Inducted 2014

North Coast Builders Exchange Hall of Fame – Inducted 2002

 City of Santa Rosa Board of Public Utilities, Santa Rosa, CA  1994 to Present

Board Member (Chairman – 1996 to 2013)

Sonoma Clean Power Authority  2013 to Present

“Our region has lost up to 7,000 living units, and we had a housing shortage before the fire.  Also, we already had a homeless issue because of the high cost of housing in the region, and we will need temporary housing for them as well as the workforce from outside the area that will most certainly be needed to supplement the locally available construction workforce. In addition, we will need to provide housing (temporary and/or semi-permanent) for those displaced from their homes while they are rebuilding.

We also all need to recognize that this devastating fire(s) is having a damaging impact on the economy of our region.  Jobs have been lost, businesses have shut down, etc., and property taxes will take a severe hit which will damage the ability of the county and our cities to function in a normal fashion.  I have heard that there will be a 20% reduction in the GDP of our county in the short to intermediate term.

I am the Chairman of a group, currently entitled “Rebuild Sonoma Task Force”, which might change soon so that we can assist rebuilding in the other 3 counties also.  The group is made up of builders, contractors, architects, engineers, business groups, financial institutions, and insurance brokers.

All of these groups have experience, and thus valuable input, to getting our region “back up and running” as efficiently and economically as possible.

This is not going to be an easy task by any stretch of imagination, but our group wants to encourage everyone to be patient and do this recovery correctly, more so than just quickly.”

 

 

Longtime community mover and shaker Dick Dowd joins me this Sunday. Engineering expertise and development experience.

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

Unique Property? Unique Situation? You Need Unique Financing – Chances are Jennifer Foster, Umpqua Loan Officer, can do that Loan!!

Did you miss the show, or, want to listen again? Here’s the podcast:

Join us on The Real Estate Hour -Sunday 9-10AM pdt. 1350AM, 103.5FM or Streaming live at www.KSRO.com.

Jennifer Foster, Umpqua Bank NMLS #486146 Direct: (707) 636-3404 Cell: (707) 280-9502 JenniferFoster@UmpquaBank.com
Jennifer Foster, Umpqua Bank NMLS #486146 Direct: (707) 636-3404 Cell: (707) 280-9502 JenniferFoster@UmpquaBank.com

Umpqua’s loan products include;  unusual properties, portfolio lending and re-hab and construction loans. Some of our clients have directly benefited from Jennifer’s expertise in these products, as well as the more traditional loans.

We’re excited to hear more.

*By the way – This information is not just for home buyers!*
If you’re a Sonoma County home seller with a unique property, or you’ve been told your home isn’t “finance-able”,  tune in. This show is for you too!

Wouldn’t it be great if you could improve your home’s chances on the market, by increasing your home’s buyer pool? – by overcoming that obstacle upfront with creative financing options for your potential buyers!  win-win!!

This is just one of the extras we at The Kelly-NormanTeam offer our home sellers and buyers. We think outside the box to find solutions…and, so does our guest, Umpqua Bank loan officer, Jennifer Foster.

If you’re buying your first home or you’re a seasoned investor,  navigating through the mortgage process takes time, work, and expertise. Jennifer Foster has that covered, and she’s here to help.

Jennifer’s passion for helping people with their home loans is the driving force behind her success. She especially enjoy working with first time buyers – educating and assisting them throughout the lending process. (which she does very well) Whether you are purchasing, refinancing or building,  she provides consistent communication with everyone involved, ensuring a smooth and worry-free transaction.

Jennifer began her career in lending 25 years ago right here in Sonoma County, and she is proud to have joined Umpqua Bank because they believe in providing that same exceptional customer experience based on superior customer service.

More about Jennifer Foster;

  • Started her mortgage lending career in Sonoma County more than 25 years ago at IMCO Realty Services which became North American Mortgage.
  •  Passionate about educating clients and providing financing solutions that meet long term .
  • Specializes in Custom Construction and renovation financing.
  • With Umpqua Bank for almost 5 years.
    • Product mix includes unusual properties, portfolio lending and construction
  • Active in community serving on local boards and community organizations including
    • Schools Plus Board Member
    • Affiliate Member of North Bay Association of Realtors

On Today’s Show – County Clerk, Recorder, Assessor, Bill Rousseau: Sonoma County Property Tax Assessments 2014, The Good and the Bad News, and The Appeal Process….

On today’s show we’ll be talking about the good (Home Equity is up) and the bad (Property Taxes are up) …and discussing the Sonoma County appeals process if you feel your property’s assessed value is off.

Not sure what your assessed value is? http://www.sonoma-county.org/assessor/SearchRoll.htm

Don’t agree with your Assessed Value? http://sonomacounty.ca.gov/Board-of-Supervisors/Services/Assessment-Appeals/

In California, Proposition 13 baseline year is a major factor in DETERMINING your Property Taxes. Had your property re-assessed, and lowered in the down-market (Prop 8)? Remember, it can go UP quicker than if it is Prop 13 only! We have the man who can explain all of this with clarity on the show THIS Sunday, November 16, 2014–Bill Rousseau–County Clear, Recorder and Assessor! The graph below is a “Follow-Along” for all of our listeners!

Remember, if your real estate was "re-assessed" due to an appeal or general assessment, and it is UNDER your "base-line" Prop 13 value, it will go UP faster than Prop 13's max 2% yearly increase.

 

Bill will answer ALL of your questions regarding Sonoma County Property Tax issues.

This week on the show we are delighted to have William (Bill)  Rousseau, Clerk Recorder Assessor for Sonoma County on the air with us. We’ll discuss the current state of property tax assessments, Proposition 13 AND Proposition 8 and how both inter-play in property taxes on YOUR home. Also discussed will be the once a “lifetime” proposition which allows you to transfer your old Prop 13 baseline to another property within the county. See you then!   707-565-1888

 

Mike Kelly’s Press Democrat Columns PLUS the latest on “Affordabiity in the Bay Area”

I’ve put together all of my popular Press Democrat real estate columns into one “Drop Box” folder including my latest on the real estate “Affordability” issue.

Lack of Affordability means a shrinking Real Estate Dollar!
Lack of Affordability means a shrinking Real Estate Dollar!

Many think our affordability has disappeared by looking at the long-term average in California we are about “average”. Now San Francisco, Marin and San Mateo counties are horribly askew with affordability indexes in the Teens but we are comfortably residing at 29%. This means that only 29% of our population can afford the median priced home at the median INCOME for the county (now around $58,000). Solano is the big affordability champ with an index of 52%. San Francisco is at 14%. But you probably just KNEW that. Click the link below to go to my Press Democrat Column DropBox folder. Enjoy! They are there for you to gather knowledge about the real estate market. We LOVE smart, savvy Buyers and Sellers.

Here’s the Link:  http://tinyurl.com/nmjpdg4

New Loan Regulations–Is this GOOD or BAD for the Real Estate Market?

Join us as show favorite, Otto Kobler, of Summit Funding, explains the new Lender regulations which went into effect on January 10th of this year. Sonoma County, California real estate home prices surged, buyers are IN the market but inventory remains scarce. Question to Otto–are these new regulations

Join us as we discuss the "Shut-down" side effects of lending!
Join us as we discuss the “Shut-down” side effects of lending!

New2014LendingRegs Otto Kobler beneficial to a recovering real estate market place in Santa Rosa, Sebastopol, Rohnert Park, Petaluma-all about the county or a detriment and perhaps wet blanket? This and more on the Real Estate Hour, 9 to 10am PST, Sundays, or at www.KSRO.com

Why WAITING for 3.5% is FOLLY and Financially Naive.

$$SignsThe link below will take you to a Fannie Mae history of 30 year fixed rate loans. The reason I’m bringing HISTORY into the argument of lower interest rates is to show Buyers and Sellers why NOT to “wait it out”. These folks mistakenly think they will see 3.5% again.  It is wise to  understand the dynamics OF interest rate fluctuations and to study past rate increases. For instance,   In April of 1971 the interest rate was 7.31%–(42 YEARS AGO!) it would NOT fall under that rate again until July of 1993 when it hit 7.21%! Oh, and during that time frame it hit a high of 18.45%  in October of 1981!

30 Year Fixed Rates since 1971. Waiting for 3.5% again? Good luck!

The first 11 years of my real estate career we had double digit interest rates with that big high I mentioned above. We STILL sold homes. Sure they were lower but so were wages and salaries. Fast forward to today and we see rates soaring from April to today by one full percentage point or what they say in banking as 100 “basis” points. And this is WITH the Fed taking a long term support measure for keeping interest rates “low”.  What bothers me is the consumer balking at rates exceeding 5% as if THIS is a high rate! Continue reading Why WAITING for 3.5% is FOLLY and Financially Naive.