What Kind of questions do we answer on the Real Estate Hour?

 Loan Modifications—how to get one, when to ask for one, why would you want one, when NOT to ask for one, tips and tricks, and techniques to get to the powers that be

Short-Sales: We explain just WHAT a short sale is, why you should do one, Tax and Legal ramifications (referral to an attorney and/or accountant/CPA), how long do they take, what is a probable success rate, who are the Players in the short-sale arena, etc.

Sellers–Property Values—Estate purposes, Trusts and Fiduciary’s, Homeowner’s thinking of Selling, or possibly refinancing, what determines value, what to do to your property to bring up value, etc

Buyersstrategies and techniques, getting pre-approved,areas that best fit your families needs, how an offer is structured, escrow procedures, closing costs, etc

Relocation—we have contacts not only in California but across the nation and throughout the world! I have the CIPS designation from NAR and I have contacts in England, France, Italy and espespecially along the French Riveria—Kukor is the MAN!!

Investment properties, vacation rentals, Rentals and property managers, Return on Investment, 1031 Tax Deferred Exchanges (go to You Tube and search 1031 you’ll find US!)

OR you can see our latest Video’s on You Tube by going to: You Tube and searching Allison Norman Realtor—Alli comes up with better rankings than I!! Go Figure!

Notice of Public Hearing! Board of Supes-Vacation Ordinance Hearing! Hear Ye! Hear Ye!

September 28, 2010!!  See below! NOTICE OF PUBLIC HEARING  The Sonoma County Permit and Resource Management Department has prepared draft changes to the Zoning Code to add regulations for Vacation Rentals located in the unincorporated County (ORD09-0001).  Area affected: County-wide, except Coastal Zone; APNs affected: Various; Zoning Districts affected: LEA, DA, RRD, AR, RR, and R1; Supervisorial Districts: All.

It is the determination of the department that the project is exempt from the provisions of the California Environmental Quality Act (CEQA) pursuant to the Provisions of Title 14 of the California Administrative Code under the General Exemption, Section 15061 (a) (3).

 The Sonoma County Board of Supervisors will conduct a public hearing to consider an action on the project at 2:30 p.m. on September 28, 2010, in the hearing room at 575 Administration Drive, Room 102A, Santa Rosa.

 If you challenge the decisions on the project in court, you may be limited to raising only those issues previously raised before the Board of Supervisors at the hearing or in written form delivered to the Board of Supervisors prior to or at the hearing.

 Prior to the hearing, the proposed ordinance may be reviewed at, or written comments submitted to, the Permit and Resource Management Department, at 2550 Ventura Avenue, Santa Rosa, CA  95403.  Contact Jane Riley at 707-565-7388, or via email to jriley1@sonoma-county.org.

Sonoma County,California Vacation Rental Ordinance!! Taking Big Brother with you on Vacation! What fun!

The continuing saga of government interference in everyone’s lives due to the shennanigans of a few trudges on!! Our “ordinance watcher” Kyla Brooke will join us for a brief update of this over reaction to a few bad apples by penalizing ALL of us! Have we been down this road before!? More will be revealed! Kyla is on the show from 9:15am to 9:30am. Tune us in! www.KSRO.com or 1350AM,KSRO 9 to 10am PST!!

Summary of Changes to Vacation Rental Ordinance

Issue

Previous Drafts January-May 2010

Planning Commission Recommendation

August 2010

Staff Recommendation

September 2010

Maximum Overnight Occupancy Sewer: 2/bdrm +2

Septic: 2/bdrm; lower if conditional permit. May exceed with Use Permit.

Sewer: 2/bdrm +2

Septic: 2/bdrm +2; lower if conditional permit. May exceed with Use Permit.*

Sewer: 2/bdrm +2

Septic: 2/bdrm +2; lower if conditional permit. May exceed with Use Permit*

Maximum Daytime Guests 25 (Jan);16 (May) unless Special Events or Use Permit Overnight + 6; 18 max unless Special Events Permit or Use Permit** Overnight + 6; 18 max unless Special Events Permit or Use Permit**
Use of 6 or more guestrooms Only by Use Permit on parcels greater than 3 acres Zoning Permit (ZP) only for existing VRs paying TOT & subject to Class 3 septic; ZPs to expire on sale; new VR requires Use Permit Use Permit Only
Use of more than 1 unit or structure Use Permit Only Zoning Permit Only for Existing VRs paying TOT & subject to Class 3 septic; ZPs to expire on sale; new VR requires Use Permit Zoning Permit if less than 6 bedrooms total; otherwise Use Permit
Amplified Sound Only with Use Permit or Special Event Permit Only with Use Permit or Special Event Permit Only with Use Permit or Special Event Permit
Outdoor Activities During Quiet Hours Prohibited Allowed within Noise Table limits Allowed within Noise Table limits
Quiet Hours 10 pm – 9 am 10 pm – 7 am but add adjustments 10 pm – 9am with adjustments
Owner Exemption Exempt up to 6 primary owners Exempt up to 6 primary owners Exempt up to 6 primary owners
LIA Parcels Do not allow Defer & Stay Enforcement Defer & Stay Enforcement
Special Events Not allowed in R1, RR Not allowed in R1, RR Not allowed in R1, RR
Pets Prohibit unattended Prohibit nuisance barking Prohibit nuisance barking
Effective Date 60 days 90 days Effective 1-1-11
“Pipeline” Honor existing contracts for a limited time Honor for up to 1 year from resolution of intent (until 11/2010) Not needed due to later effective date

* Children under 3 are excluded from guest limits

** Daytime guest & visitor limits do not apply on specified Holidays

Short-Sale Advice in ONE EZ Link! Alli and I have information at box.net!

  For all you folks considering a “Short-Sale” option for your real estate, Allison and I have made finding crucial documentation very EZ by simply going to the following web site by  clicking  HERE . The information is posted to a unique collaborative web site called www.Box.net. We find it very useful to post documentation which does NOT need to be downloaded or clog up your spam file! Go to this site as many times as you wish and download the material to your hearts content.  We make this information available to our radio show listeners as a way of showing greater transparency in the real estate transaction. Hope you find it useful!

Hey! Who’s Pricing these houses! Big difference in Median “LIST” price Vs. “SOLD” Median Price! Sticky Prices!

Pricing Homes in Sonoma County, California seems a bit Whacked! Look at the variations between Median List and Median Sold prices for the 4 major categories! The bigger the variance the more Whacked out the pricing!

¨REO: List: $277,400 Sold:$272,500 2% Variance –They get listed and get sold! Little variation in list to sale price. They come on the market at the RIGHT price!

¨Short-Sale: List:$310,000 Sold:$286,000 8% Variance –Would have thought this would be higher. And who says you get a better deal with a Short-Sale? Look at the Median Sold price of an REO!

¨All Categories: List: $459,000 Sold: $348,150 ¨24% Variance–This is all sales condition categories including the “foreclosure market” of REO and Short-Sales. BIG difference! It’s the “normal” influence!

¨Normal Market: List:$584,450 Sold:$420,000 28% Variance!!  WOW!!    O.K.–Here’s the bottleneck. Normal Sellers, very stick with their pricing, chasing the market DOWN. Wanting TOO much for their initial offering prices. Note the Sales ARE substantially less. Now this doesn’t MEAN you can offer 28% off a list price and GET a Deal! Just shows you that the bulk of listed homes are above, way above, what the median “normal” market or the REAL motivated Seller’s are getting! Lesson to be learned? LEAD the market in your pricing–don’t get caught “chasing the market”. For an explanation of this problem listen to THIS week’s Show!

 

 

So who seems to be pricing correctly!!??

Eileen Morelli Joins me on Sunday with her unique perspective as Team Leader at Keller Williams Realty,Santa Rosa,Ca.

 “The Pessimist complains about the wind,  the optimist expects it to change —- the leader adjusts the sails” John Maxwell…..Well, In case you haven’t noticed, it’s time to adjust the sails.

The way sellers determine potential home value, or buyers shop for Real Estate…and how both shop for a Realtor, has shifted dramatically over the past few years.

With the growing popularity of Social Media, Video Blogging, Online Home Valuation Sites, Smart Phone Apps., etc…Agents best stay tech savvy and educated.  While experience will always be huge……knowing how to best serve the self educated buyer/seller is crucial. 

Eileen Morelli, Team Leader, and Managing Broker at Keller Williams Realty in Santa Rosa , Ca. has just returned from Keller Williams’ Annual Mega Agent Camp. We’ll be discussing what “Ah- ha”s ” agents came away with from this years camp and how what they learned will benefit their clients. And, from Eileen’s perspective….what agents are doing to  “adjust their sails”

Does it “Make Sense” to Invest in Sonoma County Real Estate Again?…Meet Sue Carrell, Property Manager; On the Air Sunday to Discuss the Rental Climate in Sonoma County

Meet Sue Carrell, Property Manager;  Sue Carrell will be joining me on Sunday’s show to discuss the rental climate in Sonoma County.  For the Real Estate Investor, Is this a good time to be looking at rental properties? For the former distressed home-owner entering the rental market…with damaged credit; find hope in a compasionate and understanding  property manager like Sue….who knows you are more than your recent credit history.  Sue will join me at the bottom of the hour.  9:30-10:00am.

    Sue Carrell began her real estate career in 1970 in Marin County. Within three years she was awarded the Annual Sales Associate Award by the Marin County Board of Realtors. This award was in recognition of the work that Sue did the previous year when she established an “intern” program at the local community college to educate and inform Continue reading Does it “Make Sense” to Invest in Sonoma County Real Estate Again?…Meet Sue Carrell, Property Manager; On the Air Sunday to Discuss the Rental Climate in Sonoma County

I’m Away at Play! Monterey Jazz Festival-Alli’s at the helm this week!

carmelbeachcompressed

Looking North along Carmel Beach towards the fabled links of Pebble Beach. You can clamor up the hillside and stand along one of the greens! I’ve done it! White, sandy beach in which to stroll, watch the dogs chase their tennis balls and play tag with the surf! I’ve been coming to the Monterey Jazz Festival since 1981! Tonight is Billy Childs with the Kronos Quartet, Dianna Reeves and then Chick Corea!!  Alli has the helm so make sure you tune her in. I’ll BE LISTENING!! She has Eileen Morelli on, our illustrious “Team Leader” of our Santa Rosa Keller Williams office plus Sue Carrel discussing property management! Should make for riveting, must HEAR radio!

Yet another reminder that Sonoma County, Ca. is a destination county. For Real Estate, and the local economy,that’s a good thing

Sonoma County has long been the chosen setting for movies…think Alfred Hitchcocks’s “The Birds, and Shadow of a Doubt” way back in the 40’s,… “American Grafitti”, the list goes on and on 

According to Sonoma County’s Tourism Bureau, there has been an increased interest in Sonoma County for TV. In Kawasaki’s case,  “Santa Rosa’s downtown had the right feel — not too modern and not too small….a bit of a European feel”  See full story below;

I see this as yet another reminder that Sonoma County Ca. is a destination county. For Real Estate, and the local economy,that’s a good thing….. and may have been a contributing factor in Money Magazine putting Santa Rosa, CA. at the top of their top 20 list of “highest performing cities” , predicting a 6% gain in home prices in Santa Rosa. See full story……

 

A new model Kawasaki motorcycle, black and shiny in the morning sunshine, sat parked in the middle of Fourth Street Wednesday as the only vehicle allowed on the downtown block

Chicken Little’s Part II–Can you catch the sky if it’s falling?

  Interesting article stuck on page A4 of the Monday, Press Democrat, with a headline: “Feds May Have to Let Housing Market Crash”. The author, David Streitfeld, once again jumps to conclusions and assumtions above his pay grade! He states “home buyers” are “fleeing” the marketplace. Sales are down, in our area, 22% from June to July. The reason? The $8,000 Federal Tax Credit dried up and those on the extension period finally CLOSED their transactions. When a valueable carrot is dangled buyer’s buy! One would  think with 4.25% interest rates we’d see MORE buyers entering the market. What drives OUR market is the “deal” which was normally the “REO” listing (Real Estate Owned) or bank owned house being offered for sale. When you look at the percentages of all sales over 66% of all sales are UNDER $250,000!! Continue reading Chicken Little’s Part II–Can you catch the sky if it’s falling?