Tag Archives: home ownership

Real Estate

Incredible Custom Equestrian Estate In Nevada County For Sale

httpv://youtu.be/xZm4pa3j5wg

I just listed this incredible seven acres with a 3,734 square foot  home with an additional 530 square foot enclosed atrium in Nevada County.

This is a fantastic custom home with incredible storage, an additional 530 sq ft enclosed atrium, Zodiac counter tops (commercial food grade)marble and white oak floors throughout. Gas fireplaces in the Master suite and den, wood fireplace insert in the great room. High ceilings throughout. House is wheelchair friendly and one bedroom suite has a roll in shower. In addition there is a 1,200 sq. ft. workshop fully insulated, sheet rocked, textured and painted with a half bath and propane heat and 2 car garage door. An 1176 sq. ft. barn with 500 sq. ft covered loafing area custom built on site, with two stalls, room for an additional stall, tack room, automatic waterers and power. Land is very gently sloping with custom rock walls and landscaping. Piped irrigation water, well was 15 gpm when drilled and there is a meter box onsite for treated NID water. Three car garage with an additional work area.

This home, work shop and barn was custom built by O’Dell Construction

Priced at $895,000.  MLS 20133173

Call John O’Dell Realtor® GR
for an appointment to see this home.
O’Dell Realty
(530) 263-1091
Email John

BRE 00669941

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Real Estate

Home Ownership Makes Happier, Healthier Families, Survey Shows

Photo credit:http://ellyndembowskirealtor.blogspot.com/
Not sure how happy a family would be in this house.    Photo credit:http://ellyndembowskirealtor.blogspot.com/

 

Owning a home can make families healthier, happier, and more financially secure, according to new research by Canada Mortgage and Housing Corp. on the benefits of home ownership. Researchers worked with Habitat for Humanity families to evaluate how their lives changed after moving into their homes. 

Eighty-nine percent of the Canadian families surveyed said their lives improved since they moved into their homes. Eighty-six percent said they’re happier since owning a home.

The survey also found home ownership led to an improvement in children’s school performance. The families reported that the children had increased confidence, improved behavior, higher grades, and enjoyed school more after becoming home owners.

What’s more, more than 75 percent of families surveyed say their health had improved since becoming home owners. They reported fewer illnesses caused by colds, flu, allergies, and stress, according to the study.

Canada’s home ownership rate — at about 70 percent — is one of the highest in the world.

The study’s release coincided with the National Association of REALTORS(R) recent release of a new publication, “Social Benefits of Homeownership and Stable Housing.”

“There is evidence from numerous studies that attest to the benefits [of home ownership] accruing to many segments of society,” according to Canadian researchers. “Home ownership boosts the educational performance of children, induces higher participation in civic and volunteering activity, improves health care outcomes, lowers crime rates and lessens welfare dependency.”

Source: “Owning a Home Makes Families Happier, Healthier,” Realty Times (June 18, 2013)

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Sell or help you buy your new home or land through today

John J. O’Dell Realtor® GRI
O’Dell Realty
(530) 263-1091
Email John

DRE#00669941

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Real Estate

Shall I Walk Away From My Home? Part 2

2 Comments

walking  

The post I wrote entitled “Shall I Walk Away from my House” drew some real good comments both pro and con.

Shall I walk away from my home? If you are backed against a wall and have no choice, then of course the answer is yes, if you have no other choice. But If you like your house, you can make the payments, then the answer is no. You should have bought your home because you liked it, it appealed to you; it made you happy to have it as your house. The consequences of walking away are that you are going to have to rent because your credit score is down the tubes. Because of your low credit rating you are going to have to rent from three to five years or more because lenders won’t lend money for you to buy a home.

Owning a home is forced savings. You have to make the payments, your principal is going down, and money is depreciating, making your payments lower in relation to your earnings over a period of time.

The primary purpose of owning a home, unless you are an investor, is to live in the house, not to make a profit off of it. I believe that some people got carried away during the housing boom times and bought a home just to make money, not live in it. So if you have a steady job, and feel secure in it, this is just as good a time to stay in your home as any other. The question that goes along with this is: should you buy a home now, if you don’t have one.

The philosophy that I’ve had all my life in regards to a home has been to buy not to rent. I remember when I worked as an engineering aide and making barely enough money to do anything, I bought my first house through a private party with a small down payment. The seller carried the paper.  From that first purchase, a few years later, I was able to trade the home in Diamond Springs for a lot in Nevada City. Since I had the lot free and clear, I was then able to get a loan to have a contractor build a new home for me. My mortgage payment was $175 a month. I was in charge of the Nevada County Engineering Department at that time, and believe me, that mortgage payment was all I could afford. Do you think money has depreciated?

Is this a good time to buy? Is this a good time to hold on to your house if you can? The answer to both of these questions is yes. It’s always a good time as far as I’m concerned. I would rather buy a home than rent. I don’t like to be under a landlord.  Besides, it always seemed a waste of money to pay off someone else’s property when you could be paying off your own.  Time has shown that money depreciates and real estate increases in value.  My first mortgage on the house I had built was $175 a month. I could barely afford it. What can you buy today for $175 a month? Not much, certainly not a home.

Some people have forgotten the value of home ownership during this downturn. All you hear about are the people who are losing their homes. We forget that most of us bought a home to live in, not to make a living buying and selling, or getting into a “get rich” scheme.

So should you stay in your home?  My answer is stay there if you can, or buy one if you can.  History, no matter what people say, shows that real estate goes up and the value of your money goes down. I wish I had that $175 a month mortgage on my present home.  Let me know what you think.