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Open House today–Heart of Bennett Valley! 4335 LaGranda $829,900

Open House today! Sunday, July 9th –1 to 4pm. $829,900. EZ directions–Bennett Valley rd to Sonoma Mountain and down about a mile on the left hand side.  Allison and I are pleased with this terrific new offering in the heart of Bennett Valley. Home is just around 1600 sqft with 3 spacious bedrooms and 2 full bathrooms. New carpeting in living room area, interior paint, new gorgeous redwood deck with easterly views for morning coffee. All on 1.50+ acres and single level living. Bring your animals, critters, shop dreams, chickens, 4-H projects, whatever! Open today 1 to 4pm.

Heart of Bennett Valley!

Heart of Bennett Valley!

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Revising initial Real Estate Sales for June-BIG month! +8% and almost 500 sales

Revised June Sales 499

We had a lot of “late” reporting of sales for July. I should have anticipated this due to the 4th of July 4 day holiday. It’s all GOOD though. We almost hit 500 sales falling JUST one short! Sales are up 8% over last year and total sales of SFD (single family dwellings–houses) was 499. This is good as all of last year we NEVER hit this vaunted mark. Under Contracts seem to be same as last month so perhaps we’ll break through the 500 barrier next month.

Below are the UC or Under Control houses, those now in escrow. Note the steep increase beginning back in January. We’ve flattened a tad over the last 2 months but could see increased sales on the horizon. All good!

Houses now in escrow. Portend of things to come?

Houses now in escrow. Portend of things to come?

Looking at JUNE Real Estate Sales in Sonoma County Sunday, July 2nd.

Distressed MarketThe non-existent “Distressed Market” can not be used as a future prediction of a market “crash”.  The last time default rates had soared (watch “The Big Short” for a further description of this!). So scratch that off the list.

Below, many of you think you have LESS equity than you really do. 10 years later from the big crash you most likely are sitting on more equity than you think. If you are still wondering what your home is worth just give us a call. Mike can be reached at: 707-322-8503.

Think you have no money for home refinance or selling and moving on up? We can help! 322-8503

Think you have no money for home refinance or selling and moving on up? We can help! 322-8503

Prop 60 and 90 explained! Taking your old Property Tax with you!

Questions regarding Prop 60 and 90 can be found by clicking here!  Further questions?  go by or give them a call. Nice folks and they are very helpful!

Address: 585 Fiscal Dr #104F, Santa Rosa, CA 95403

Which County’s will allow you to take your old Prop 13 tax base with you? This falls under Proposition 90 which allows transfers from one county to another county in California (inter-county) and it is the discretion of each county to authorize such transfers.

What are the counties that have enacted ordinances to accept inter-county transfers?
As of June 5, 2015, the following eleven counties in California have an ordinance enabling the inter-county base year value transfer:

Alameda, Orange, San Diego,Tuolumne, El Dorado *Riverside, San Mateo, Ventura, Los Angeles, San Bernardino, and Santa Clara
Since the counties indicated above are subject to change, it is recommended contacting the county to which you wish to move to verify eligibility.

* On August 30, 2016, the El Dorado County Board of Supervisors approved an extension of their ordinance, which will now sunset on October 1, 2021.

Chief Deputy Assessor Greg Walsh Joins us on the “hour” this Sunday.

Do you know you can take your old tax bill, the cheap Proposition 13 roll-back basis, WITH you when you sell your home? How about transferring to another County and keeping your old property tax basis? Did you have your taxes “rolled-back” due to the real estate crash of 2007 only to see them bounce back big time? These and other perplexing questions answered as Greg Walsh, Chief Deputy Assesor joins us on the show this Sunday!

Propositions 60, 90 and 110 are voter-approved amendments (Revenue and Taxation Code, Paragraph 69.5) which allow qualifying Sonoma County homeowners to transfer the taxable value of a previous residence to a new residence. For many people, this can result in substantial tax savings.

  • You (or your spouse who resides with you) must either be at least 55 years of age (Prop 60) or severely and permanently disabled (Prop 110) as of the date you sell the home you are replacing.

We sometimes refer to the process of reviewing property as “the Prop 8 review process” because of its association with temporary declines in taxable value allowed by the passage of Proposition 8 in 1978.

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.

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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

Mike Treinen, Wastewater Consultant on the show today talking Groundwater and Septic.

With all the recent rains, what issues might come up with septic inspections, groundwater testing, wet weather percs, etc…?

Mike Treinen, R.E.H.S Onsite Wastewater Consultant, joins us on the show to answer these questions and more… Tune us in 1350AM, 103.5FM, and streaming live at KSRO.com 

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