Tag Archives: Nevada County

Real Estate

Banks Help Themselves Not Borrowers

Bank of America Nevada City, CA
Bank of America Nevada City, CA

So why am I so mad at banks? Because they have gotten federal bailout monies to start the lending process for borrowers who are distressed and to create new loans. Instead, they have used the money to fatten their bottom line. Have you tried to get a loan for a home lately? Even if you want an equity loan, you need to have a credit score in the upper 700’s, full documentation of your assets and income.
Now how does this grab you for arrogance? A direct quote from a the chairman of Whitney National Bank of New Orleans, quoted from the New York Times:

“At the Palm Beach Ritz-Carlton last November, John C. Hope III, the chairman of Whitney National Bank in New Orleans, stood before a ballroom full of Wall Street analysts and explained how his bank intended to use its $300 million in federal bailout money.

Make more loans?” Mr. Hope said. “We’re not going to change our business model or our credit policies to accommodate the needs of the public sector as they see it to have us make more loans.”

I’ve talked to several people with good credit scores and good income and the banks seem to just put off the loans. In short, the banks do not want to make loans, they want to buy assets. For example, Bank of America has recently bought Countryside, Merrill Lynch and in 2002 they bought FleetBoston Financial for $48 billion. Now, they have received $20 billion to shore up its purchase. Here’s a quote from the BBC News:

“The objective of this program is to foster financial market stability and thereby to strengthen the economy and protect American jobs, savings and retirement security,” the US Treasury said.

In addition to the $20bn cash injection, the Treasury will “provide protection against the possibility of unusually large losses on an asset pool of approximately $118bn of loans”.

If that dosn’t make you mad, let’s start a bank.

Government

Nevada County Free Discount Prescription Card

Prescription Card
Prescription Card

I was wandering around on the Internet the other day and what a surprise when I stumbled unto the fact that the county of Nevada County has a free prescription card. On reading further on the Nevada County website, it states that the card may be used by all county residents, regardless of age, income or existing health coverage. The National Association of Counties has made this available to all counties that want this discount prescription card and to our good fortune, the Nevada County Public Health Department decided to make this card available to us living in Nevada County. (The formal name of the card is “The National Association of Counties NACo Drug Discount Card or simply NACo discount card”)

There is no enrollment form, no membership fee and no restrictions or limits on frequency of use. Cardholders and their family members may use the card anytime their prescriptions are not covered by insurance. According to the County, savings average 20 percent, some discounts may be more, and some less, depending on the drug and quantity purchased. Cardholders are eligible for higher discounts on a three-month supply of some medications through mail service. If you have a pet, believe it or not, you can save on pet prescriptions at participating retail pharmacies. By the way, this is not an insurance card.

The card may be used at over 57,000 pharmacies nationwide, including most chain pharmacies and many independents. Wal-Mart participates in the program. In addition the program has a safety feature that alerts pharmacists when one drug may conflict with another medication the card holder is taking, if the prescriptions were obtained with the NACo discount card. The card program remains a useful option now that Medicare Part D has been implemented. For example, the card can be used when a Medicare Part D plan doesn’t cover a drug.

For information on obtaining a NACo discount card call 530–265-140 or go to 500 Crown Point Circle, Grass Valley, CA, If you do not live in Nevada County, check with your County Health Department and see if they have enrolled in this program.

History

Cedar Ridge, Nevada County

What is the area called Cedar Ridge? Good question and kind of funny. The official zip code for Cedar Ridge is 95924. The post office (see picture) is the only piece of property in Cedar Ridge that has that zip code. All of the immediate area around the post office is listed as Grass Valley, 95945. My office is across the street and I can’t get mail delivery because they don’t deliver mail out of the post office! They do give me a free PO Box though.

Cedar Ridge Post Office
Cedar Ridge Post Office

The Cedar Ridge Post Office, the only area with the 95924 zip code. The area around the post office is Grass Valley, 95945

The best information that I can find is that way back in the 1870’s a man by the name of George Kress bought two hundred acres which became known as Kress Ridge. Kress Ridge was a stop for the now demised Nevada County Narrow Gauge railroad. They had a post office then as now. The name changed in time to Cress Ridge, Cedar Cress and is now our present Cedar Ridge

Cedar Ridge Fire Station
Cedar Ridge Fire Station

The Cedar Ridge Fire Station. With a modern fire station, fire engines and paid fire fighters.

It’s a beautiful area, with many cedars (of course) and pines at an elevation of around 3,000 feet. There is a post office, a fire station, a service station, a grocery store, a beauty shop and of course my office. Located on State Highway 174, between Brunswick Road and Grass Valley in Nevada County, be sure not to blink as you drive by, you might miss us

Hwy 174 Cedar Ridge
Hwy 174 Cedar Ridge

Looking at Highway 174 in the direction of Brunswick Road.

Now don’t get me wrong, just because we really don’t know where Cedar Ridge ends or begins, there are many fine homes in the area around the post office. There is a wonderful subdivision called The Cedars, with many fine homes ranging into the million dollars plus category just a very short distance away. There are also many homes near by with beautiful forest settings. It is a very desirable area to live in and commends a higher price for homes then some other areas of Nevada County.

If you have information on Cedar Ridge, please e-mail me.

Hiking

Places to Enjoy Spring

Our county is green and wildflowers are springing up everywhere. Here are a few places you can go to enjoy the beauty.

  • The trails at Bridgeport, in the South Yuba River State Park. There are wildflower tours Saturdays and Sundays at 11am, but you can go there anytime.
  • Penn Valley’s Gateway Park. This is a great place to get together with friends and family with sports fields, playgrounds, picnic areas, an awesome disc golf course, and lovely little creek running through.

Driving Tours (from Grass Valley at the 49/20 intersection. Consider Dramamin or Bonine if you get carsick, these are winding roads.):

  • Take Highway 20 west to Pleasant Valley Road. Pleasant Valley Road north to Bridgeport. Get out, walk around, have a picnic, then get back in the car and continue north up the winding road to French Corral. Stop at French Corral to read the historic marker, then continue up Pleasant Valley Road to Hwy 49. Take 49 South through the canyon. Consider stopping at the South Yuba River for more hiking, or just a nice view of the river. Halfway up the south side of the canyon is the awesome Independence Trail, if you’re still up for a hike. Otherwise, continue back to Nevada City where you can get back on the Freeway.
  • Other options: Bitney Springs Road runs from just west of Grass Valley on the Rough & Ready Hwy to Pleasant Valley Rd. Whether you drive up from Pleasant Valley or down from Grass Valley this way, it shortens the loop described above, and is full of great scenery. Ready for a rough road? When you leave Bridgeport, there is a left turn onto a gravel road just a short distance up the hill—this leads to Rice’s Crossing. At the top of the hill, turn right and take the old Rice’s Crossing road up the hill. It comes out just below French Corral on Pleasant Valley Road. This is a great hike, too. Or take Mooney Flat Road west from Pleasant Valley Road (right after the Lake Wildwood Dam) down past Englebright Lake. Mooney Flat takes you right back to Hwy 20. This is a short loop.
  • Take McCourtney Road past the Fairgrounds and continue all the way down to Wolf Road. Take Wolf Road back to Hwy 49. Along the way you’ll see lots of beautiful scenery. Once you’re back at 49, you can return to Grass Valley, or continue across 49 and follow Combie Road to Magnolia Rd. Keep on Magnolia to Dog Bar. A left on Dog Bar will take you all the way back to Grass Valley. If you turn right, you can take Dog Bar to Placer Hills Road. A left on Placer Hills will take you up to Colfax, or a right will take you down towards Auburn, through Meadow Vista, to the Freeway at Clipper Gap.

Longer Drives:

  • Take Hwy 20 west to Marysville Road. Turn right and drive north. From here there a number of great routes:
    • Take Marysville Road past Collins Lake. There is a right turn to Dobbins and Oregon House that is still Marysville Road. If you miss the turn you will suddenly be on Willow Glen until that merges with LaPorte road, but that’s another story (below). Consider making an appointment to tour the Renaissance Winery before you head this way. It is out Rice Crossing Road east of Oregon House, and worth a visit for its great wine and beautiful gardens. (Yes, this is the same Rice Crossing Road we mentioned above, but NO you can’t get there from here. There’s private property, and a missing bridge across the Yuba.) Continue northeast on Marysville Road past Bullards Bar Reservoir (a great place for boating, camping, picnicing and mountain biking). Continue up Marysville Road to Hwy 49. Turn right (south) and return to Nevada City by way of North San Juan. (Also consider taking Moonshine Road just east of Bullards Bar. It will return you to Hwy 49 at the middle fork of the Yuba River. There’s a little picnic area and a covered bridge just across 49 from this intersection, too.)
    • After Browns Valley there is a left turn onto Loma Rica Road (Don’t take Fruitland Rd, which has a sign saying ‘Loma Rica’, wait until you see Loma Rica Road—actually, Fruitland Rd is pretty too, but I’m taking you through Bangor). Follow Loma Rica Road to Los Verjeles Rd and turn right. Follow Los Verjeles to Bangor and continue west on the Oroville-Bangor Hwy to Miners Ranch Road. Turn right on Miners Ranch and follow it to Hwy 162.

From here, there are two great options:

  • Turn right and go east to Forbestown Rd and follow that to old Forbestown. From Forbestown take the Challenge Cutoff to Brownsville (NOT Browns Valley). From Brownsville you can return via Willow Glenn Road to Marysville Road to Hwy 20 and return to Grass Valley.
  • Visit the famous Table Mountain wildflowers: turn left and drive toward Oroville on the Olive Hwy (162). Instead of turning when 162 does, continue on across the river on Washington Avenue. When you cross Montgomery, you’ll be on Table Mountain Blvd. Look for a right turn called Cherokee Rd. Follow Cherokee Rd. This will take you up over Table Mountain. From here you can either return, or continue via Derrick Rd. to historic Oregon City to see the little covered bridge and historic marker. There are two possible routes to follow from here: either return to Cherokee Rd, which will take you to Hwy 70 near Pence, if you turn right, or a left will take you back to Oroville the way you came. You can return to Grass Valley by taking 70 south (left) back to Marysville and pick up Hwy 20 there. You can also continue through Oregon City and loop back on Oregon Gulch Rd. to Cherokee and then return the way you came through Oroville or take 162 West to Hwy 70, and back by way of Marysville.

Take a map, some snacks, a camera, and an open mind. With the maps, trace your route and pick out alternatives to visit later. I’ve driven all these routes many times over the years, and I always find something new and wonderful by taking wrong turns (intentionally or not).

This post by Richard Webster

Real Estate

Residential Sales In Nevada County July 2007

Residential sales in Western Nevada County in July 2007 vs. July 2006 fell about 6 percent. In July 2006, 98 homes were sold at an average sale price of $479,969, which was at 96.96 percent of the asking list price of $495,078.

In July 2007, 92 homes were sold at an average sale price of $406,267 which was at 96.37 percent of the asking list price of $421,556. Sales have not really dropped very much, but the average sales price dropped $73,702.

Of course one month does not reflect the true market conditions. Lawrence Yun, NAR senior economist, said “he isn’t looking for any notable changes in sales activity. A modest upturn is projected for existing-home sales toward the end of the year, with broader improvement to include the new-home market by the middle of 2008.”

With increased population growth in California, demand for housing is not going away. New construction has dropped considerably, land is scarce and interest rates are still low. Buyers will have to come into the market place sooner then later. Various reports that I have read expect a yo-yo effect, with nation wide prices dropping 2.3 percent and then rising 2.3 percent next year. Interest rates are expected to be 6.7 percent at the end of the year and ease off to 6.5 percent the beginning of next year. (Source, National Association of Realtors® NAR)

Real Estate

Newspapers Lose Battle for Real Estate Ads

Real estate advertising will become less prevalent in newspapers as it shifts to the Web, where online home buyers are actively searching for properties, analysts say.

Currently about 15 to 20 percent of real estate advertising is online, but Mike Simonton, media industry analyst for Fitch Ratings credit analysis service, says it is poised to go higher for a number of reasons.

Suzy Antal, director of marketing for Prudential Real Estate Affiliates, a unit of Prudential Financial Inc., said many Prudential practitioners have been pulling back on advertising during the current downturn, but as they return, they’re shifting ad budgets to their own Web sites, creating blogs, and taking different approaches beyond newspapers.

“Is newspaper a high priority? No,” Antal says. “I don’t believe my buyers and sellers are going to be in that market.”

Tim Fagan, president the real estate portion of Classified Ventures, which manages website for 125 newspapers, says it plans to “significantly increase’ its investment in Homescape, a real estate-related Web site that provides home listings, but he declined to provide specific numbers.

It’s wrong to assume that online advertising is cheaper than buying space in the paper, says Blanche Evans, editor of Realty Times, a online real estate news service. After all, online users expect extensive color photographs, lengthy descriptions, and even video tours —and all of those features can add up for a real estate practitioner.

Environment

Malcom Gladwell on the SUV Phenomenon

Malcom Gladwell is one of the funnier and more interesting writers of our time. His book “The Tipping Point” is one of my favorites. His recent article from the New Yorker, “Big and Bad” is a fascinating look at the history and marketing of SUVs, why people like them, and what the auto manufacturers have learned about how to make and sell them, to satisfy our craving for them.

When John wrote the article below, Gas Prices Too High? it brought home that, in a roomy and comfortable Prius, a 3,500 mile drive he took on his recent vacation cost him all of $249 in gas (at an average $3.35 gallon).

In an area where many people (my wife included) commute to Roseville or Sacramento, or beyond to get those perpetually necessary paychecks, the result is quite a financial squeeze if you don’t own efficient vehicles. What’s the point of getting a higher paycheck if it is eaten up by the commute to work?

There are plenty of reasons for big powerful vehicles. Towing and hauling is a real requirement for many people. But you should really read Gladwell’s article to see why people REALLY buy SUVs.

It’s a hoot. 

This article posted by Richard Webster

History

Coming to Nevada County

On a rainy night in October, 1968, my family moved to Nevada City from Quincy, CA. My sisters, with me following, explored the old Victorian house in darkness, with lightening striking outside the windows. We opened what we thought was a closet, to find a narrow dark staircase curving up to the second floor. My sister Betsy began making up stories about a murder that had taken place in the back bedroom, just to spook us.

I had started Kindergarten in Quincy, and would continue it in Nevada City. At that time, the classes were in the building between Main and Winter St., just behind the Courthouse. Two of my sisters were in elementary school just up the street, and one was going to Seven Hills School which was on Zion Street, at the time.

Naturally, my memory of that time is mostly visual. I knew nothing of Nevada City and its environs. My experience extended in a triangular area between our first house on Nevada Street (rented) at one point, the Kindergarten yard at another point, and my parent’s print shop on Commercial Street, as the third point. Frankly my memories are not properly sequential, but I remember crossing the freeway at Washington St. I also remember climbing the wall across from the church, and sometimes going up the incredibly (still!) steep Court Street that connects Coyote to Main north of Washington. That winter, ice covered it, and we were nearly late for school trying to get up it. We could have gone around, but it was too much fun!

Through stories told by my parents I learned that Nevada City’s downtown was about half-occupied when we came in 1968. There were several bars, and not much else. I remember Scotch Broom and Grimblefinger Book store (this might have come later) across the street from my parent’s print shop, which was in the building where Mecca is now. It was called DeCrepit Press… With my father’s peculiar sense of humor he had created a “backstory” of the founder being one Lucius Van Der Lewellyn DeCrepit. I remember exploring the space on Commercial St. with it’s brick walls and iron shutters, and mysterious basement with a creek running through it!

As I grew up in Nevada City, I saw many changes. The preservation movement, which turned Nevada City from a run-down, past-its-prime, down-at-the-heels logging town with people longing for the good old days of mining prosperity, to being a historical tourist draw with art and culture aplenty. The burying of the phone and electricity lines and the installation of gaslights and the restoration of the Theatre and Ott’s Assay Office building that created all the momentum… the burst of population growth that followed in the late ‘70’s… There are certainly things I miss, but overall, Nevada City continues to be a truly great place.

I’m hoping a few people who read this will come up with their own memories to share. I’ve got a few more, as well: The first Malakoff homecoming celebrations after the state park was established, the burning of the Torino and the old Carriage house, the Nevada City Independent, and much more.

This post by Richard Webster