Tag Archives: California

Real Estate

Housing Inventory May Be Low in 2015

Photo courtesy of http://funpho.com/funny-house/

Despite recent increases, new-home inventories remain near all-time lows and are unlikely to return to their highs any time soon, according to a new analysis by John Burns Real Estate Consulting.

The rise in single-family inventory levels over the last few months bring them back only to 2012 levels. What’s more, the supply of condos continues to be at record lows, with fewer new high-rise developments and condo conversions occurring now than in the mid-2000s, John Burns Consulting says.

From 1984 to 2014, there was an average of 9,900 units on the market. The current inventory is 72 percent below the average of the last 30 years and 79 percent below the average since 1971, Pete Reeb, senior vice president at John Burns Consulting, notes in a recent article for the firm.

Why are new-home inventory levels so low, and why will supply not likely reach the previous highs? John Burns offers the following reasons:

  • Decrease in available lots. Los Angeles, Orange County, and San Diego, for example, have less land for large-scale new-home developments than five years ago. Fewer master-planned communities will lead to less supply.
  • Fewer overall projects. With fewer projects, there are fewer units coming on to the market. Actively selling community counts are far lower today than 10 or 20 years ago, Reeb notes.
  • Lower unit counts. The average total number of units in a project has significantly decreased in the last three decades. For example, in San Diego County, project sizes have dropped from a median size of around 125 units per project in the 1980s to 59 units today. “With fewer units per project, there are less total units to bring to market,” Reeb says.
  • Tight construction financing. Lenders now often require builders to have 50 percent to 100 percent of units under contract before releasing funds for the next phase. That has greatly reduced the potential for overbuilding, Reeb says.

Source: “How Much Is Too Much,” John Burns Real Estate Consulting/Building Market Intelligence (Jan. 5, 2015)

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Nevada County Fairgrounds Christmas Fair Results

Gingerbread house (Best of Show) - 2014
Gingerbread house (Best of Show) – 2014

Gingerbread House Competition Results and Canned Food Drive Results

A successful canned food drive, more than 120 vendors, and 45 gingerbread houses built made the 30th Annual Country Christmas Faire at the Nevada County Fairgrounds a success.

The 12th Annual Gingerbread House Competition was once again a crowd favorite, with 45 entries received. Of those entries, the Best of Show award went to the Files Family of Chicago Park, and the People’s Choice Award went to Kathy Kinney of Penn Valley. The Best of Show is chosen by the judges, and the People’s Choice is selected through ballots cast by individuals who attend the Christmas Faire.

First place winners in the traditional categories include Caylee Sinnock and Preston Lancaster (age 5 & under); Hunter Casteel and Finn Becker (age 6-8); Owen Strolle, McBride Family, Nate Becker, Kimberly Pfadt, and Evelyn Grandfield (age 9-12); Alyssa Porter, Jillian Beaver, J&C Anderson, and Willow West (Kits: Age 8 and under); Molly Becker (age 13-17); Sherry Andreini (age 18 -64); Joan Morton (age 65 & over); Nancy Pease (special needs); Scotten Out of School 3rd Grade, Scotten Out of School 2nd Grade, Scotten Out of School K/1st Grade, and Scotten Out of School 4th Grade Girls (group – children); Ali McDaniel and Pfadt Family (family); and the Files Family (Adult/Group – ages 18 and over).

 

Gingerbread House (People's Choice - Kathy Kinney) - 2014
Gingerbread House (People’s Choice – Kathy Kinney) – 2014

The first place winner in the non-traditional categories is Joanne Perilman & Crew (adult/group – ages 18 and over).

At Sunday’s canned food drive, Grass Valley Elks Lodge #538, with help from Boy Scout Troop 21, collected more than 200 pounds of food. These donations will help complete Christmas food baskets for 28 local families during the holiday season.

The names of all the Gingerbread House Competition winners can be found on the Fairgrounds’ website at www.NevadaCountyFair.com. The 2015 Country Christmas Faire is planned for Thanksgiving weekend, November 27, 28, and 29.

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Nevada County Fairgrounds, Grass Valley Elks Team up for a Canned Food Drive

Donate a can of food on Sunday, November 30, and receive $1 off admission

The Nevada County Fairgrounds and Grass Valley Elks are teaming up for a canned food drive to help feed those in need in Nevada County.

Bring a can of food (or two or three) to the Country Christmas Faire on Sunday, November 30, and the Fairgrounds will give you a coupon for $1 off general admission to the Christmas Faire on that day (one coupon per person). Volunteers from Grass Valley Elks will collect the cans at the food collection bins at the Fairgrounds from 10 am – 4 pm at Gates 1, 3 and 5, which is also where you’ll receive your coupon.  All food donated will help feed those in need in Nevada County.

The Country Christmas Faire is happening Thanksgiving weekend, November 28, 29 and 30 at the Nevada County Fairgrounds. Hours are 10 am – 5 pm on Friday and Saturday, and 10 am – 4 pm on Sunday. Cost is $4, and free to children under 12.  Parking is free.

Visit www.NevadaCountyFair.com for information or call (530) 273-6217.

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Nevada County Fairgrounds’ CEO to be Inducted into Western Fairs Association’s Hall of Fame

Sandy Woods
Sandy Woods

Western Fairs Association (WFA) announced this week that they will induct Sandy Woods, Chief Executive Officer of the Nevada County Fairgrounds, into the Western Fairs Association’s Hall of Fame at its upcoming convention in Reno.

The WFA Hall of Fame honors individuals who have made substantial contributions to the Fair industry through leadership, education, legislation and outstanding service.

Woods is being recognized for her contributions to the Fair industry, including her work at the Nevada County Fairgrounds. She has worked at the Nevada County Fairgrounds since 1995, where she started as Deputy Manager, and has served as the CEO since 2009. Additionally, Woods has served as a member of the Board of Directors of the Western Fairs Association since 2005, and served as the WFA Board President in 2012. She is currently Chair of the California Fairs Alliance, which provides advocacy and resource development for the network of California fairs.

“Sandy’s service as an Officer, and as the President of the Western Fairs, set a new bar for leadership,” noted WFA Executive Director Stephen Chamber. “Her continuing role as the Chair of the California Fairs Alliance has helped California’s 78 fairs move through the difficult challenges driven by the Great Recession. Celebrating her service will be the highlight of our January Convention.”

Prior to her work at the Nevada County Fairgrounds, Woods worked as the Controller/CFO for MasterCard for the western United States. She also has an extensive background and career in international agriculture.  Upon moving to Nevada County, she became the general manager of the Nevada City Winery and remains a director at the Winery. She is also a past director of the Nevada County Fairgrounds Foundation, as well as a member of the Foothill Lions Club.

“The Hall of Fame Board of Governors did an outstanding job,” said WFA President Pat Kress. “Sandy defines commitment and service to the fair community. She has worked tirelessly on behalf of the California fair network. She is a great addition to the WFA Hall of Fame.”

The Western Fairs Association is a non-profit trade association serving the Fair industry throughout the Western United States and Canada. WFA serves fair-related businesses, fair management, fair board directors, festivals, and industry associations.

Woods’ induction will take place in January at WFA’s industry awards celebration in Reno.

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Environment

More on the Water Wars in the Delta

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Image 1 of 4

Mount Diablo And Sacramento River

Pictures 1, 2 and 3 courtesy of Bill Wells

The public comment period for the Bay Delta “Conservation” Plan to divert the Sacramento River around the Delta has ended but the California Water War continues for the foreseeable future.  The Natural Resource Agency and the Department of Water Resouces (DWR) continue to provide a lot of misinformation but they are continually met with citizen truth squads.  Here is a recent op-ed in the Tracy Press to correct  some bad information recently put out by DWR Director Mark Cowin.

Read more Tracy Press
 

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Nevada County Fairgrounds Closed to Walkers and Bicyclists from July 10 – 13    

 

The magnificent six-up competition is always a crowd favorite at the Draft Horse Classic and Harvest Fair at the Nevada County Fairgrounds in Grass Valley.
The magnificent six-up competition is always a crowd favorite at the Draft Horse Classic and Harvest Fair at the Nevada County Fairgrounds in Grass Valley.

 

In preparation for the annual California WorldFest, July 10 – 13, the Nevada County Fairgrounds will be closed to walkers and bicyclists beginning July 10. The Fairgrounds will re-open its gates to walkers and bicyclists as usual on Monday, July 14. This closure does not affect the Main Office, which is open during its normal business hours of Monday through Friday from 8 am to 5 pm.

The RV Park at the Fairgrounds will also be closed to the public from July 8 – 13.

At various times throughout the year the grounds are rented by organizations for large, community events like the California WorldFest, the Bluegrass Festival, Strawberry Music Festival, and the KVMR Celtic Festival. During these times, it becomes necessary to close the grounds to pedestrians in preparation for these various events.

If you are interested in attending the California WorldFest, please visit www.worldfest.net or call (530) 891-4098. For more information about the Nevada County Fairgrounds, visit www.NevadaCountyFair.com or call (530) 273-6217.

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Nevada County Information

State Drought Action Impacts Nevada Irrigation District Water Diversions

Scott's Flat Lake. Picture taken from my deck. John O'Dell
Scott’s Flat Lake. Picture taken from my deck. John O’Dell

GRASS VALLEY – The water rights used by the Nevada Irrigation District to fill reservoirs and supply customers in Nevada and Placer counties are among those covered in the state’s May 27 curtailment order.

To address record dry conditions in California, the State Water Resources Control Board ordered some 2,600 agencies to stop diverting water from streams and rivers, including those on the Yuba River watershed.

NID Manager of Water Operations Chip Close said the district is reviewing its options. “This is another reminder of how serious the drought has become,” he said.

“Everyone has to conserve water. The governor has called for 20 percent water use reductions and we are asking our customers for the same.”

The state’s order includes 19 of NID’s post-1914 water rights, which are also referred as “junior” water rights. NID also holds multiple pre-1914 “senior” water rights, some of which date to the Gold Rush and are among the oldest in the state.

The state’s order does not impact pre-1914 water rights but includes a warning that these rights could be affected if the serious drought conditions continue. The order is effective until drought conditions ease.

Close said that considering the length and severity of the drought, NID is relatively well-prepared.

“We had an early runoff from the snowpack this year so the water is already in our reservoirs,” he said. “Under the state’s order, we’ll have to let any additional runoff run through our system.”

State officials said the action is necessary because current water supplies are insufficient to meet the needs of Sacramento and San Joaquin river water right holders. Affected agencies must certify that they are in compliance or face fines of $1,000 per day. The order allows some exceptions for health and safety purposes.

Close said NID has been carefully managing runoff as dry conditions have continued, leaving district reservoirs at near-average levels for this time of year. The district remains concerned over carryover storage for next year, he said.

Source: Nevada Irrigation District

 

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Nevada County Fairgrounds Closed to Walkers and Bicyclists from June 8 – 15, 2014

cioppino-flyer

In preparation for the annual Father’s Day Bluegrass Festival, June 12 – 15, in addition to a private music camp June 8 – 11, the Nevada County Fairgrounds will be closed to walkers and bicyclists beginning June 8. The Fairgrounds will re-open its gates to walkers and bicyclists as usual on Monday, June 16. This closure does not affect the Main Office, which is open during its normal business hours of Monday through Friday from 8 am to 5 pm.

The RV Park at the Fairgrounds will also be closed to the public from June 8 – 15.

At various times throughout the year the grounds are rented by organizations for large, community events like the Bluegrass Festival, the KVMR Celtic Festival, Strawberry Music Festival, and The California WorldFest. During these times, it becomes necessary to close the grounds to pedestrians in preparation for these various events.

If you are interested in attending the festival, please visit www.cbaontheweb.org or call (209) 588-6031. For more information about the Nevada County Fairgrounds, visit www.NevadaCountyFair.com or call (530) 273-6217.

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Real Estate

Home Prices to Increase Next 12 Months

Photo Courtesy of: http://www.pleated-jeans.com/
Photo Courtesy of: http://www.pleated-jeans.com/

March 25, 2014

REALTORS® expect home prices to continue to rise over the next 12 months. But they expect them to do so at a moderate pace, given tight credit conditions and the chipping away of home affordability, according to the latest REALTORS® Confidence Index, a monthly survey distributed to more than 50,000 real estate practitioners to gauge expectations over home sales, prices, and market conditions.

Real estate professionals reported a median price expectation of 3.9 percent over the next 12 months.

The states where practitioners are predicting the biggest increases—5 to 7 percent—are in California, Florida, Alaska, and Hawaii. Tight inventories have helped to lift home values in these areas, according to the survey.

“In states with booming economies like Washington, North Dakota, Texas, Michigan, and the D.C.-metro area, the expected price increase is about 3 to 5 percent,” according to the report.

Real estate professionals also expressed several concerns over the housing market holding back some buyers, particularly due to “unreasonably” tight credit conditions.

“Access to credit was often cited as a deterrent to home buying,” according to the report. “About 13 percent of REALTORS® who did not close a sale in February reported having clients who could not obtain financing.”

In those cases, about 6 percent of the professionals said their buyer gave up, while 7 percent said their buyer continued to seek new or other financing. Other transaction hang-ups were lack of agreement on a price (accounting for 11 percent); buyer losing a home to competition (10 percent); and appraisal issues (3 percent).

By REALTOR® Magazine Daily News

 
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nevada county fair

Win $250 in Artwork Design Contest – Nevada County Fair

Winner 2012 artwork design by Sandy Gold of Grass Valley

Winner 2012 artwork design by Sandy Gold of Grass Valley

Submit the winning artwork for the 2014 Nevada County Fair and you could win $250

The Nevada County Fairgrounds is sponsoring a contest to find the best artwork to illustrate the 2014 Nevada County Fair theme. This year, we have two themes to choose from – “Simply Fun” OR “Lambs, Ham, Quilts and Jams.”  The winning art will determine which of these two themes we choose for the 2014 Nevada County Fair. If you’re a talented artist, and you’d like $250, this is the contest to enter!

The contest, which is open to Nevada County residents only, takes place now through Friday, January 17.  If you submit the winning artwork, you will win $250 and a 2014 Nevada County Fair package that includes admission tickets, parking and carnival coupons. Additionally, the winning artwork will be used on various Fair promotional pieces, print ads, buttons, banners, posters, and flyers.

Interested artists may use any medium and can submit up to three entries, which must be on 8-1/2 by 11-inch paper. Artists can submit artwork for either or both themes. Entries can be delivered to the Fairgrounds Office at 11228 McCourtney Road or mailed to the Fair Office at PO Box 2687, Grass Valley, CA  95945. A complete set of rules can be found on the Fair’s website at NevadaCountyFair.com, or by calling the Fair Office at (530) 273-6217.

Dawn Narvaez of Penn Valley submitted the theme of “Simply Fun,” and Carol Jarosik of Grass Valley submitted the theme of “Lambs, Hams, Quilts and Jams.” Both theme names were chosen from the more than 185 theme names submitted during our community contest to determine the theme for the 2014 Nevada County Fair, held August 6 – 10.
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