Tag Archives: sonoma county real estate

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.

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

Homes Available by Price Bracket-National vs. Sonoma County.

Here in the “Wine Country” of Sonoma County, California–home availability is very tight and our price brackets for homes do NOT reflect very well for affordability when compared to the overall nation. See the graph below.

SalesPricePointDifferenceFeboverFeb2016

Yes, there are places in the nation where homes/condos are readily available for UNDER $100,000. And you’d be very surprised how much home you can get up to $250,000. In Sonoma County it is slim to none and slim just left town. Our big price point is $500,000 to $750,000 followed by the next highest price bracket. The age old question of affordability–where do all the service folks, teachers, police officers, fireman, find a home without breaking the monthly budget? Tis the question!