All posts by jd

Real estate broker, civil engineer and general contractor.
Real Estate

Home Sales to Increase 15 Percent in 2010

home-prices-increasing
Home sales will increase 15 percent to about 5.7 million units and REALTOR® income will be up 20 percent in 2010, NAR Chief Economist Lawrence Yun told a packed room of REALTORS® today in a residential economic update at the 2009 NAR Conference & Expo.

Yun credited the home buyer tax credit with unleashing sales on the lower-end of the housing market this year, bringing up to 400,000 first-time buyers into the market who wouldn’t have bought otherwise. That influx tightened inventories of starter homes, shored up prices, and helped reduce households’ fear over continuing price drops.

This virtuous cycle will continue now that the federal government has extended the credit to mid-2010 and expanded it to make a smaller credit available to repeat buyers and to households with higher incomes. “The key is stabilizing prices and preserving household wealth,” he says.

Yun predicts the supply of homes to stabilize at the historic norm of six to seven months. Homes above $500,000 will remain elevated in the near-term, but that weakness will be offset by a hefty drop in starter-home inventories, which are running at about a five months supply.

The tightening inventory at all price points will help improve market performance by bringing supply into better balance with demand, but the added sales, particularly on the higher end, will also increase the number and quality of the market comparables used by appraisers to assign valuations. Once appraisals improve, foreclosures will ease, blunting their drag on the market and making it less likely that Fannie Mae, Freddie Mac, and even FHA will need help from the taxpayer.

“Then we’ll be set for a durable economic expansion,” he said.

New-home sales, which comprise about 10 percent of the market, will continue at suppressed levels–about 550,000 units, down from more than a million during the boom–mainly because builders have scaled projects way back, in part because financing isn’t available.

“Weakness in new-home sales shouldn’t be viewed as tepid demand,” he said.

Even under the most positive economic scenario, unemployment will remain elevated through 2010. Yun is predicting unemployment to stay near double-digits going into 2011, qualifying this recession, as some economists have, as the “Great Recession.”

Source: Robert Freedman REALTOR® Magazine

Real Estate

Joe Montana’s Vacation Home For Sale For $49 Million

Joe-Montana-Home

Remember when  Joe Montana, former San Francisco quarterback and Hall of Fame quarterback had the art of winning the football game in the last 10 seconds of play? Surprising as he was then, it’s even more surprising that he has a home in Calistoga that he put on the  market for a cool $49 million. Not only that, this home is just a vacation home, not his main residence.

The setting: More than 500 acres in Calistoga, at the north end of the Napa wine country, spilling over into Sonoma County. The “ultra-private property” includes a 9,700-square-foot Tuscan-inspired main residence, “professional-grade” equestrian center, two creeks, a pond, full-sized basketball court, skeet shooting range, caretaker’s residence, guesthouse, pool and spa, gym, Bocce ball court, and a producing olive farm.

The main residence features three bedrooms, 3 1/2 baths, a sitting room/upstairs tower, great room and dining room, loggia, kitchen, breakfast room, media room, office, climate-controlled wine cellar and tasting room, outdoor viewing tower, and two laundry rooms.

“Villa Montana was designed to feel as if it was handed down through the generations,” Jennifer Montana said in a Nov. 9 statement.

The property consists of multiple parcels, which were assembled starting in 1995, said spokeswoman Alyson Pitarre. Joe and Jennifer Montana don’t want to disclose how much they paid for the various parcels, she said. They live in Thousands Oaks, Calif., and have been using the Calistoga estate as a vacation house.

Local real estate agents say if Montana gets even close to his asking price, it will be a record sale for Sonoma County.

animals, Local Writers & Contributors

Cat stuck in a tree: if they could come down, they would

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cat-in-tree

“Ever see a cat skeleton in a tree?”

This sarcastic question is usually intended to “prove” that cats never get stuck in trees. When they feel like coming down, they will, goes this misguided thinking. The premise of the lame joke, however, is utter nonsense. Cats do get stuck in trees. They do die. Here’s why, and what to do if your cat (or a cat you know) ever gets stuck in a tree.

A cat usually climbs a tree for one of two or three reasons: she’s chasing something (like a squirrel), she’s running away from something (like a dog), or perhaps she just wants to see what’s up there. Okay, so Kitty is way-high-up in a tree, the danger (or the fun or the mystery) is gone, and it’s time to come down. Why doesn’t she come down on her own?

A cat’s claws are designed for climbing up. A cat is not a squirrel; squirrels can climb up, down, and sideways, always headfirst, no problem. But a cat must climb with her head up to avoid falling, and once she’s up, the only way down is to back down. (The margay, or tree ocelot, a rare cat found in the rain forests  of Mexico, Central America, and South America, is the only cat that can climb down a tree headfirst.)

Once she’s close enough to the ground, she’ll turn around and jump down; the biggest challenge is a tree that has no low branches, like a pine tree. By the time the immediate danger or curiosity has passed, Kitty has used her burst of adrenaline and does not have enough energy left for the time-consuming, frightening task of descent. This is especially true of an indoor cat with little or no climbing experience.

The good news is, cats have been known to survive over a week in a tree and have sustained falls of over a hundred feet without serious injury. The bad news is, a panicked cat will continue to go…up. Worse, a cat may eventually become too weak to climb down, and after a point, even if rescued, may die later of starvation, dehydration, or exposure.

We don’t see cat skeletons in trees because of a well-known law of nature called gravity: Kitty becomes too weak to hold on, lets go, and falls.

What do you do?

If the cat is not too high—a distance you feel confident climbing yourself—wear gloves, long sleeves, and long pants. Take a pillowcase and rope with you. Make the first grab count; if you only succeed in scaring Kitty, she may go higher. Grab her by the scruff of the neck and stuff her into the pillowcase; secure it with the rope and lower it carefully to someone on the ground. Take the bagged kitty indoors before opening the pillowcase.

If you can’t manage the rescue yourself, wait no more than a couple days. That’s about the longest it will take Kitty to decide to come down if she can. Call your cat. If it doesn’t encourage her to come down, it will at least let her know she’s not forgotten. Keep dogs and other unnecessary commotion away. Try tempting her with food.

If your cat does not meow, it means one of two things: she’s too weak to do so (bad) or she doesn’t feel she is in trouble (good). Unfortunately, you can’t tell which it is.

Get help sooner rather than later if:

  • It’s a kitten. Kittens do not have the weight or strength to hang on.
  • It’s an indoor cat. She’s not used to being exposed, and she has no climbing skills.
  • She’s declawed. A declawed cat has virtually no chance of climbing down without help.
  • The cat has been up there for more than two days. After this, her chance of getting down on her own declines sharply, especially considering she’s becoming weaker as time passes.
  • Wet, cold, or windy weather is forecast.
  • An electrical storm is forecast. If you do decide to call someone, he may decline to come, out of concern for his own safety.
  • She’s injured or literally stuck—wedged or (worse) impaled.
  • The stranded kitty’s plight is causing stress to you or another family member.
  • There’s a reasonable fear of attack by wild animals.
  • Her meowing is bothering someone. You don’t want a grouchy, cat-hating neighbor to shoot your cat down.

Who’re you gonna call?

Continue reading Cat stuck in a tree: if they could come down, they would →

Local Writers & Contributors, nevada county fair

Nevada County Fair – Create a Gingerbread House & Win!

gingerbread-house

Now is the time for holiday bakers to think about the creation of a magical Gingerbread House to enter into the 7th annual Gingerbread House Competition at the Country Christmas Faire, held November 27 – 29 at the Nevada County Fairgrounds. Entry forms must be submitted by Friday, November 20.

Houses, bungalows, cottages, and castles fashioned from spicy gingerbread will be displayed for holiday shoppers to enjoy at the Nevada County Fairgrounds in Grass Valley during the Thanksgiving weekend festivities.

Competitors may enter any of the 12 categories, including children, teens, adults, families, groups and businesses. New this year is a category for children under 8 years of age who want to enter a house made by a kit.

Prizes and ribbons abound for all. First through third place winners will receive award money with the Best of Show winning $100. A special gift basket from Tess’ Kitchen Store will be awarded to the Best of Show winner and the People’s Choice Award.

Entry forms must be received at the Fairgrounds by Friday, November 20; the actual gingerbread house entry must be delivered to the Fairgrounds on Tuesday, November 24.  All Gingerbread House exhibitors will receive two free passes to the Country Christmas Faire.

Entry forms and a complete list of rules can be picked up at the Fairgrounds office on McCourtney Road, or downloaded from the Fair’s website at Nevada County Fair.

The 25th annual Country Christmas Faire begins Friday, November 27, and runs through Sunday, November 29.  The hours are 10 am – 5 pm on Friday and Saturday; and 10 am – 4 pm on Sunday. Admissions is $4 for adults, and children 12 and under are free. Parking is also free.

Artisans from across the country fill the Fairgrounds exhibit buildings with quality hand-made crafts and unique gifts. Visitors to the Faire will enjoy strolling live entertainment, festival foods, wagon rides, and a community bon-fire. Santa Claus and Mrs. Claus will be on hand to greet children and a photographer will be available to capture the special moment with Santa.

The Northern Mines Girl Scouts will offer free babysitting so parents can drop off their children while they enjoy holiday shopping. Errand elves will also be available to assist you throughout the event.

The Nevada County Fairgrounds is located at 11228 McCourtney Road in Grass Valley. For more information, visit Nevada County Fair or call (530) 273-6217.

Source: Wendy Oaks, Publicist Nevada County Fair

Community Events, Local Writers & Contributors

Amateur Astronomy in Nevada County

universe

An important point of astronomical activity in the county is the science museum, with education and sky shows.  Regarding education, this is the International Year of Astronomy (IYA) 2009, and the Imaginarium Science Museum is celebrating the event this fall with astronomy exhibits and activities for local school children during the week throughout the fall into December.  For November, two public events are:

Nov. 13th Imaginarium Open to the Public

Time: Noon to 5 pm

Astronomy exhibits and activities supplement other science exhibits
COST: $4 Student $6 Adults
Nov. 20th, Astronomy Event – Movie Night:  The Universe in Powers of Ten
Time:

5:00 – 6:00 Museum Open
6:30 – 7:00 Films:  Powers of 10 and Zoom, 12 and 8 minutes, respectively
7:00 – 7:30 Film:  Cosmic Voyage, 35 minutes
7:30 – 8:00 Discussion and talk featuring Wayne Watson,
                   the Astro Guy on the Size and Shape of the Universe
COST:  $4Student $6 Adult

The three spectacular movies (Zoom, Powers of 10, Cosmic Voyage) present a common theme of exploring the universe that is visually developed further with each successive film under newer technology. They will be followed by a 20-30 minute discussion and talk on the size and shape of the Universe. You’ll learn about some the very unusual, fun, mind warping features of the universe that weren’t featured in the films.  The first two movies are appropriate for children 6 and older, child care will be provided from 7:00 – 8:00 p.m. For more information check the museum’s information line at 478-6415.  For sky show schedules see local media, radio, newspapers, as below for other sky shows.

The museum’s monthly sky shows from April to November have supported the IYA with views of the sky, and short talks on various subjects from April to November. The next sky show is at Tobaissen Park 300’ up the hill from the Madelyn Helling County Library parking lot on Friday, November 13, from 7 to 9:30 p.m.

Another important group is the Nevada County Astronomers club, NCA, which meets at the Madelyn Helling Library County Library Community Room  near Nevada City  the first Tuesday of each month at 7 p.m., except during the summer months.  They feature discussions and talks by astronomy enthusiasts.  Their web link is Nevada County Astronomers

Additionally, popular and informative sky shows are provided by Alan Stahler of KVMR-FM who hosts sky watches throughout the year near Grass Valley and Nevada City, and famed comet hunter, Donald Macholz, who hosts sky shows throughout the year in Auburn.  Auburn is just out of our county, but close to much of our population.  For schedules on Alan’s shows see KVMR-FM, KNCO-AM announcements, and The Union’s Thursday Prospector. For Don’s shows see similar radio and newspaper outlets in the Auburn area.

If you want to enjoy our good skies for astronomical viewing, then latch onto the activities above. You’ll find plenty of knowledgeable amateur astronomers and resources at the museum to help you.

Source: Wayne Watson, Imaginarium Science Museum Sky Show Host

Wayne Watson’s Website

Real Estate

Feds Clean Up Closing Costs For Borrowers

piggy bank

It seems that times are getting harder for mortgage brokers. First, they can’t in most cases use their appraiser of choice and now, they have to give you a close estimate of closing costs when you purchase a home.  No longer will you be given an approximate closing cost.  Than find the final closing costs on your mortgage to be $2000 to $3,000 higher than what you were told you would have to pay.

Worse yet, you had to come up with the extra cash to handle the surprise costs or the home purchase or refinancing could not proceed.  A lot of mortgage companies low ball the estimated closing costs just to rope you into doing business with them, than surprise you with extra costs when you are ready to sign the final closing papers.
Here’s what’s about to happen: Starting Jan. 1, loan charges and settlement fees will be spelled out on a revised, more consumer-friendly version of the good-faith estimates (GFE) form that borrowers are supposed to receive within three days of their mortgage applications. Charges will fall into three broad categories on the form:

• Fees that cannot increase from upfront estimates to final closing.

• Fee estimates that come with wiggle room and can increase by as much as 10 percent.

• Fees that can increase without limit, mainly because the lender has no control over them or because the amount is difficult to predict.

Charges in the zero-increase category include the lender’s or broker’s mortgage origination, processing and underwriting charges, where junk fees sometimes sprout — or increase significantly at closing. Also in this category are the lender’s or broker’s loan discount charge, or “points,” based on the interest rate quoted, and local transfer taxes.

Charges subject to a 10 percent aggregate increase include services required by the lender but where the lender chooses the providers, such as appraisals; expenses such as lender’s title insurance and settlement services, where the borrower chooses a firm on a list approved by the lender; owner’s title insurance, when the borrower chooses a company on the lender’s approved list; and recording charges by local governments.

Though any one of these items can increase more than 10 percent from the upfront estimate to closing, the combined total of all the fees in this category cannot jump by more than 10 percent. This is crucial, especially in title insurance and settlement charges, where some of the biggest surprises pop up at closing.

Charges that can increase without limit include lender-required services where the borrowers choose a title insurance, escrow or other settlement company that is not on the lender’s list; the cost of homeowners’ hazard insurance; daily interest charges on the loan; and the amount of the initial deposit by the borrower into an escrow account.

Besides getting rid of closing-cost surprises, the new good-faith estimate encourages loan applicants to shop around before committing. The form has space for comparing up to four competing lenders’ GFEs on interest rates, rate locks, prepayment penalties or balloon payments, among other factors. The cost estimates from each competitor are required to remain available for 10 business days. Interest rates can change unless locked in.

Paired with the new GFE rules will be a new standard closing-cost statement, the “HUD-1,” which allows consumers to directly compare what they were told upfront with what they’re being asked to pay at closing.

Also, for the first time ever, the new HUD-1requires disclosure of the widely misunderstood fee splits of title insurance premiums between the insurance underwriter — the company actually insuring the title — and the title agent, who is often the settlement agent. Consumers may be stunned to learn that in some markets, 80 percent to 90 percent or more of the premium they pay at closing actually goes to the agent, not to pay for the insurance itself.

Real Estate

Extended Tax Credits Signed Into Law

government-tax-credits

Expected to contribute approximately $22 billion to the economy, Congress overwhelmingly passed a bipartisan measure this week extending the $8,000 home buyer tax credit to April 30, 2010.

The legislation, which is part of a larger bill that also extends unemployment benefits, was signed into law by President Obama today.

More people are now eligible to take advantage of the law, which includes a $6,500 tax credit for buyers who are current home owners and have lived in their home for five of the past eight years.

Income limits for eligible home buyers were also expanded to $125,000 for single buyers and $225,000 for couples, up from $75,000 for individuals and $150,000 for couples. Qualifying home prices are capped at $800,000.

NAR’s Government Affairs Division has compiled facts on the changes made to the current tax credit. NAR members sent more than 500,000 letters to leaders in Congress and made nearly 13,000 telephone calls to Senate offices last weekend to encourage support. So far this year, REALTORS® have spent nearly $14 million lobbying Congress, according to federal campaign finance records compiled by the Center for Responsive Politics.

Sen. Johnny Isakson, a Georgia Republican and a former member of NAR, was key in extending the credit, as well as pushing it through initially. Other prominent boosters include the National Association of Homebuilders and the Mortgage Bankers Association.

Listen to NAR President Charles McMillan’s podcast announcement.

NAR economists estimate that approximately 2 million people will take advantage of the tax credit this year.

Community Events, nevada county fair

Country Christmas Faire at the Nevada County Fairgrounds.

Christmas Fair Photo
Christmas Fair Photo

Country Christmas Faire at the Nevada County Fairgrounds.Mark your calendar for the 25th annual Country Christmas Faire at the Nevada County Fairgrounds in Grass Valley on November 27, 28 and 29. Rated as one of the top handcrafted shows in Northern California, this year’s Country Christmas Faire will feature unique gifts and crafts from more than 100 top artisans.

Five exhibit buildings will be filled over the Thanksgiving weekend, giving shoppers a chance to start their Christmas shopping with quality hand-made jewelry, ornaments, wreaths, wooden crafts, hand-woven baskets, stained glass, candles, beadwork, and dozens of other unique gifts.

Visitors to the Faire will enjoy strolling live entertainment, festival foods, the magical gingerbread House exhibit, and a community bon-fire. Wagon rides around the Fairgrounds will be offered; and Victorian singers, the bell ringing RiverBells, and the Sierra Symphony quartet will perform throughout the event.  Additionally, Santa Claus and Mrs. Claus will be in The Chapel to greet children and listen to their Christmas wishes. A photographer will be available to capture the special moment with Santa.

Back by popular demand, the Northern Mines Girl Scouts will offer free babysitting so parents can drop off their children while they enjoy holiday shopping. Errand elves will also be available to assist you throughout the event.

New this year, the Nevada County Fairgrounds will partner with the Food Bank of Nevada County and HOPE (Help Other People Eat) for a canned Food Drive. Bring a can of food on Sunday, November 29, from 10 am to 4 pm, and get $1 off Sunday’s admission price. All food donated will help feed those in need in Nevada County.

The Country Christmas Faire begins Friday, November 27, and runs through Sunday,

November 29.  The hours are 10 am – 5 pm on Friday and Saturday; and 10 am – 4 pm on Sunday. Admission is $4 for adults and free for children 12 and under. Parking is also free.  A coupon for $1 off Sunday’s admission price is available on-line at www.NevadaCountyFair.com.

The Nevada County Fairgrounds is located at 11228 McCourtney Road in Grass Valley, 50 miles northeast of Sacramento, off Highway 49. For more information, visit the Fair’s web site at www.NevadaCountyFair.com or call (530) 273-6217.

Dates & Times: Friday, November 27
10 am – 5 pm

Saturday, November 28
10 am – 5 pm

Sunday, November 29
10 am – 4 pm

Where: Nevada County Fairgrounds
11228 McCourtney Road
Grass Valley, CA  95949

Website: www.NevadaCountyFair.com

BlogSpot: www.nevadacountyfair.blogspot.com

Phone number: (530) 273-6217

Admission: $4

Free to children under 12 years of age

Parking: Convenient and free parking

Featuring: Unique gifts and crafts, live entertainment, festival foods, Gingerbread houses, strolling carolers, Santa Claus, errand elves, wagon rides, free babysitting, and a community bonfire.

There’s also a canned food drive on Sunday – bring a can of food and receive $1 off Sunday’s admission.

Source: Wendy Oaks, Publicist Nevada County Fair

Community Events, Local Writers & Contributors

Get Christamas Gifts at Low Auction Prices to Benefit Yuba Charter School

Sabroso, appearing at the Nov. 7 Moondance, is an Afro-Cuban Jazz and Salsa dance band
Sabroso, appearing at the Nov. 7 Moondance, is an Afro-Cuban Jazz and Salsa dance band

By Paul August

Moondance 2009, Yuba Charter School’s silent and live auction, is at the Miner’s Foundry this Saturday, Nov. 7, from 5:30 pm to 11 pm.  Sure, it has the usual dinner and dancing but the main attraction is almost 300 auction items..

Bid on items like this in the silent auction:

A half hour hot tub and a one hour massage.

Eight hours of web services.

A Les Schwab Emergency roadside kit.

Homemade French bread, once a month for ten months.

Three hours of childcare for up to four kids.

Ski lift tickets for Sugar Bowl.

Sacramento Zoo family pass.

Disneyland tickets.

Two week day nights at the Sierraville Hot Springs.
Continue reading Get Christamas Gifts at Low Auction Prices to Benefit Yuba Charter School →

History of Nevada County

1896 Sheriff David Fulton Douglass is Killed in the Line of Duty

Momument to Sheriff David Fulton Douglass
Momument to Sheriff David Fulton Douglass

This monument to Sheriff  David Fulton Douglass is located just off of Airport Road near Nevada City, California.  It lays in the woods all by itself, with no houses nearby.  The monument represents where, on July 26, 1896, Sheriff Douglass, along with a bandit, shot and killed each other.  They are both buried at this spot. The story of what happened on that faithful day is as follows:

David Douglass, Sheriff of Nevada County, California, followed the footprints of two road agents through the underbrush, his big Colt .44 at the ready. Suddenly Douglas stepped into a clearing where, a short distance away, a man was swinging a pistol in his direction.

Douglas was quicker with the .44 and it kicked in his hand as he thumbed off several shots. Hit twice, the man with the revolver fell, mortally wounded.  The date was July 26, 1896, and within seconds, Sheriff Douglass himself would lay dead.

How this all started a few days earlier, William Engle’s freight wagon was held up on the Lake City Road.  Engle turned over $14 to the man. On the 18th, a fruit peddler, traveling the same road, found himself looking down the barrel of a revolver. The view cost him $30.

On July 26th, learning that footprints had been seen not far from Sugar Loaf Mountain, a mile or so behind Nevada City, Douglass drove out in a buggy to check the tracks. He tied the baggy to a tree and started following two sets of footprints.  They led him to the little clearing where he met the man with the revolver, and his own death.

Years later, in 1961 a third man living in Sacramento would confess that he had been the one who killed Sheriff Douglass.

momument-sign-Sheriff-Dougl

Source The Mystery of the “Third Man” American Cowboy


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