Fulton Crossing Art Center–Show Recap

Thanks to Rami Batarseh of Batarseh Real Estate for discussing his latest endeavor; “Fulton Crossing”. Below is a link to the story of the revival of the old Fulton chicken processing plant. As a kid growing up in Guerneville, I drove by the chicken plant many, many times and its current usage is vastly superior to the look and smell of its previously life! Now it is an exhilarating and art filled space. Check it out for the Holidays!

For more info about Fulton Crossing please see https://www.fultoncrossing.com/the_story

The basics:

  • Fulton Crossing is an industrial artisan center, ±25,000sf of total space, 1 acre lot, located at 1200 River Rd Fulton
  • Purchased in 2012
  • Consists of 23 artists’ studios / workshops, studio size vary from 100sf to 3000sf
  • Fulton Crossing Gallery is the nucleus of the center, a large exhibition hall where artists display their latest work
  • Gallery opens to the public Fri, Sat & Sun 11am-4pm
  • On every third Friday of every month, we host an “Open Studio” event, 5pm-8pm, where artists open their studios and invite the public to see their work and exchange ideas

About me Rami:

  • Real estate investor / broker for over 25 years, of which 18 years were in San Mateo, 7 years in Santa Rosa
  • Hold Electrical Engineering BS from George Washington Univ, MBA from San Jose State, hold CCIM designation
  • Owner of Batarseh Real Estate – commercial real estate brokerage company in downtown Santa Rosa
  • Specialize in value-add opportunities
  • batarsehrealestate.com is our website
  • Contact information below

Rami Batarseh

Batarseh Real Estate

613 4th St Suite 207

Santa Rosa, CA 95404

Tel: 707-331-4348

Fax 707-581-1858

ramibatarseh1@gmail.com

Broker Lic # 01326543

How Long Can the Real Estate Boom last?

I’ll be discussing a recent article by Robert J. Shiller (of Case/Shiller Fame) where he discusses probable reasons FOR the surge but is really at a loss as to WHEN it will end and WHAT will cause it to stumble and fall. He writes of the three great booms and how this current one is #3 on his list.  It’s startling when you realize he really doesn’t have a clue as to WHEN it will fail and by how much. We’ll be discussing this on the show as I read excerpts from his recent article. CLICK HERE for the full article as it appeared in the New York Times.

Lender’s Update with Denise Stiles of Guaranteed Rate Affinity.

 

I’m delighted to have old friend and tried and true Lender, Denise Stiles on my show for the first time! She brings a wealth of knowledge and experience having worked with some of the largest loan originators in the business. She is passionate about her work and it shows with her excellent customer care. Welcome Denise to the Real Estate Hour, Sunday, December 2nd. Usual hours! 9 to 10am pst. Tune us in at KSRO, 1350AM, 103.5 or 94.5FM or www.KSRO.com. And don’t forget–if you missed any words of wisdom or just like listening to my sonorous voice here’s a link to our “Ask the Expert” page on the KSRO web site–CLICK HERE! 

For Denise Stiles, the greatest joy of working in the mortgage industry is helping her clients achieve their homeownership dreams. She understands that owning a home is the first step toward true financial freedom and will do everything she can to make the homebuying process as easy as possible. Specializing in new construction loans, Denise also possesses a deep knowledge pertaining to jumbo, conforming, FHA and VA loans. She especially loves helping our nation’s veterans own their dream home.

Continue reading Lender’s Update with Denise Stiles of Guaranteed Rate Affinity.

Special Guest–Giuliana Brockway–Brockway Law Trust & Estate Planning

This week on “The Real Estate Hour”, Sundays, 9 to 10am PST, KSRO, 1350AM or 103.5 or 94.5FM or www.KSRO.com will be . Giuliana Brockway talking trusts and estate planning. We will touch upon various ways to hold title to real estate, do you really need a trust to own real property? Is it smart to make your oldest kid the trustee of your estate (careful–trick question!) This and more Sundays, 9 to 10am ALWAYS live! Got a question for us? Caller hotline 636-1350. 

Giuliana Brockway–Brockway Law Trust & Estate Planning gvb@brockwaylaw.com www.brockwaylaw.com (707) 757-7550

Structural Engineers–Why you should consider this during your Home Inspection period.

This Week’s Guest: Marc Durand–Residential Structural Inspections

(Mike next to Marc Durand with his “Speedy” work helmet! )

When should I hire a structural engineer?

Buying/Selling Of A Home:
In many instances, we are called to evaluate a potential problem un-covered after a home inspection. In this scenario, the homeowner is usually selling their home. After a general home inspection is complete, sometimes a structural engineering inspection is also
warranted. If this is the case, the home inspector will include this recommendation in his or her final home inspection report. Home inspectors are not qualified to assess and diagnose structural problems. Only a licensed, structural engineer can provide accurate assessments
and solutions for a home buyer or seller.

Continue reading Structural Engineers–Why you should consider this during your Home Inspection period.

Beyond the Peak! October 21, 2018 Radio Show Topics and Info

Good morning to one and all! Here’s some data I’ll be discussing this morning on “The Real Estate Hour” heard every Sunday, 9 to 10am pst. 1350AM, 103.5 and 94.5FM and www.KSRO.com.  Above is a chart showing how far we’ve come from the “Depth” of the recession in relation to median home price in the Bay Area. The top 4 counties with the biggest come back are in double digits. Sonoma County? 3% above.

Currently we have 1055 “Active” or “Showable”  Detached Single Family dwellings listing in Sonoma County-for a population of 500,000+. Slim Pickens!

Of those “Active” listings 316 are $1+Million! or 30%.

Here’s a price breakdown:

0-$250,000     5

$251,000 to $499999  122

$500,000 to $749,999  422

$750,000 to $999,999  190

1+Million to $1,249,999 65

$1,250,000 to $,1499,999  53

$1,500,000 to $1,749,999   31

$175,000 to $1,999,999  29

$2+ Million   128.

Condos–Total of 117.

Solds–obviously due to the Fires of last year the October Sales will be skewed. After October 9th our “Cancelled” and “Expired” listings shot through the roof as those homes listed and lost in the fire left the market.  Sales plummeted but soon heralded a big boom in the $1+Million price point as folks replaced lost homes.

Today we have current 266 Sold sales to date–last year 182.

Boomer? Retiring to rent or should you buy?

@agingbabyboomers! Yes, I resemble that remark. RENT vs. OWNING? Perhaps you want to keep your home here in Sonoma County, rent it out and go exploring other areas to live. You could pull some cash out of your home here, rent it to cover the new debt service and then go rent in the south of France for a year? Spain? Way back east in the New England states or perhaps Oregon or even Texas! (remember, Austin is WEIRD!). A $250,000 1st at 5.5% is about $1,419 per month in debt service. You own a home in Rincon Valley, 3 bed, 2 bath, 2000sqft, rents going to be $2400 at least! Throw in social security, retirement and you’re GOOD to go (obviously speak to your accountant and retirement specialist for advice).

 

 

Benton Veterans Village housing veterans in need of housing

Santa Rosa Fire Fighters Local 1401 is partnering with Community Housing Sonoma County (CHSC) to create HOME for 7 veterans in the former 1950’s Santa Rosa firehouse on Benton Street. CHSC refurbished and re purposed the firehouse to become Benton Veterans Village housing veterans in need of housing. This former firehouse will be a unique veterans’ housing community due to the enormous commitment made by our Santa Rosa Firefighters to be involved in the veterans’ lives. Led by Santa Rosa Fire Fighters who are veterans, our local fire heroes are committed to creating a long-lasting partnership with our nation’s veteran heroes who will be living at the firehouse.

We are asking for your help. We need your help with cash donations or donations of new or gently used items to finish outfitting the building and each veteran apartment to create the feeling of HOME for our veterans moving into Benton Veterans Village in mid-October.

Santa Rosa Fire Fighters already secured donations for a pool table, dressers, tables and other items.  You can participate with cash donation or donate items needed for the apartments and the firehouse. Please visit our website donation page to make a cash donation or view household items that you can donate to help secure HOME for our veterans.   https://www.communityhousingsc.org/support-us.

Default Rates not the pin to burst this real estate bubble!

One of the main factors of a real estate “Bubble” is the appearance and increase of the mortgage  “default” rate. This usually goes hand in hand with years of issuing shady lending. We saw it in the 2008 real estate crash when default rates soared first at the “sub-prime” level but then  the “A+” paper. Those who saw the movie, “The Big Short”, recall the number which was being posted on a white board outside one of the main character’s office. It was the “default” rate and was quickly into the double digit numbers.  It kept soaring upward until the moment of implosion and government bail-out intervention.  Many today are calling this market a “bubble”. But the default rates are just NOT there. The graph below from Freddie Mac/Fannie Mae, show the gradual decline in default rates. We are at historic lows. NOTE the numbers during the “crash”.

I bring this up because shaky or very ez money was the basis of the great default of the 2008 real estate market crash. Speculation, another cause of the crash, was driven by the availability of this ez money in which to invest in real estate. But one of the first indicators was the alarming default rate of first “sub-prime” and then “prime” loans. We can eliminate default rates as the canary in the coal mine. NOT happening this time.

What WILL drive a bubble to burst or gradually deflate? In our area it is affordability. Currently in Sonoma County only 1 in 5 can afford our median home price of $670,000. It’s an old equation–buyers quit buying, Seller needs to sell, Seller drops price to bring buy to their property. The other Sellers follow suit and you’ve got a decreasing value market. Stay tuned!

Market Slow Down–Interest Rates or Affordability?

The current slowdown of the real estate market is being blamed on higher interest rates and/or affordability. Interest rates have moved over the past five years from lows in the 3.40% range to the current 4.94% range. You’d think 1% would not make a huge difference in qualifying but when you add in the lack of affordability in our area you find consumers right at their limits. And not only are they hitting their max for loan qualifying, many are saying NO to a life where the mortgage payment dominates their household monthly outlays.  What makes the market tick in the Sonoma County area is Affordability. Currently 1 in 5 can afford to purchase the median home price.  We are among the top counties with affordability issues. As you can see below, our affordability number is at 20% who can afford the median home price. But look at San Francisco, San Mateo and Santa Clara! The most affordable county in the Bay Area is Solano but that dropped 6 points over the past year. How do we increase affordability? #1 lower interest rates, #2 building more affordable housing, #3 the economic boom we’re in needs to generate higher wages.

Continue reading Market Slow Down–Interest Rates or Affordability?

Local Real Estate New and Information – Sundays, 9 to 10am PST, 1350AM,103.5 FM or www.KSRO.com