3rd quarter “affordability” numbers for Sonoma County and the NorthBay. We are now at 25% or 1 in 4 folks can afford to buy the median home priced at $630,000. You payment will be $3,180 per month with total income needed of $127,100. And this was BEFORE the “Fire Storms”. Now throw in scarcity and things are just very, very tight! Housing Crisis
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.”
Here’s the podcast for Otto’s show last Sunday. Great information on appraisal and lender perspectives regarding impact of the Fire Storms which hit Sonomoa/Napa counties. CLICK RIGHT HERE TO LISTEN!