Anne Fashauer Anderson Valley & Mendocino

Questions to think about when listing your property

Anne Fashauer — Wed, 28 Jul 2010 21:09:00 GMT

When you decide to sell your property and engage a real estate agent to list it for you, you will be asked a series of questions about the property. Some are fairly basic and apply to property with or without a home on it; some are more specific to residential properties, others for commercial properties and so on. I thought a short list of these might be helpful if you are planning to put your property on the market.

Size of the property - how many acres or what portion of an acre? Your agent can also check this with the county Assessor's office information.

Are there any easements on the property or appurtenant to the property?

Are the property lines marked? The corners?

Water - is there a well? Dug or drilled? Sealed? Is there a storage tank? How many gallons does it hold? How many gallons per minute does the well produce? On this latter, a buyer will usually have a well test performed that will provide accurate information, but it's good if you have a general idea. How deep is the well? Really, this probably doesn't matter that much, but it's one of those questions buyer's like to ask.

If there's a home, how many square feet is it? What year was it built? Do you know who the builder was? Any upgrades/remodels? Then there are all the specific questions about the home - type of flooring, siding, roofing, etc.

If you have a septic system, when was it last pumped? This will likely be inspected by the buyer and knowing the last time it was pumped can give you a head's up that you might need to have it pumped prior to the close of the sale.

How do you heat the home? If it's propane, what do your typical bills look like? What about your average PG&E bills?

What type of internet access is available where your property is located? Is there cable or DSL or just dial-up and the option of a satellite dish?

This is by no means a comprehensive list of the questions your agent and prospective buyers will have, but it can help get you started thinking along those lines. And buyers can come up with some questions you and I have never thought of!

Why hire a Realtor(R) to sell your property?

Anne Fashauer — Fri, 23 Jul 2010 21:30:00 GMT

Recently I've had a few people ask my professional opinion on various aspects of real estate, some pertinent to a particular situation, some more general. In at least two of those instances people suggested to me that they had thought of selling their home themselves, without the benefit of a Realtor(R). Of course, I have a strong interest in suggesting that these people re-think this idea! I can understand the appeal - we are a do-it-yourself society, whether it be building or repairing something on a home, selling an automobile or growing your own vegetables. There's also the incentive of saving the commission cost. In light of these comments I think I'll take this opportunity to suggest why Realtors(R) are worth the brokerage fees they are paid - or at the very least, why I am worth the fee I'm paid!

Let's start at the beginning. You've decided to sell your home; how will you price it? How easily can you find the information of recent sales that are comparable to your home? A Realtor(R) has immediate access to this information via the MLS; not to mention the agent's experience and knowledge of the market and pricing trends. An agent can pull of sales for the past six to 18 months and see if prices are rising or falling; she can look at prices of homes currently on the market and can easily check which are overpriced by the number of days the home has been on the market. It's likely the agent has been inside homes that have been on the market and has a personal feel for how they compare with the home they are pricing. How many people take the time to look at new homes for sale every time one comes on the market? You can bet your Realtor(R) does.

How will you market your home? How many websites will you have access to? What MLS will you be on? There are some For Sale By Owner websites out there to be sure. I do not know the statistics for these sites. I do know that Realtor.com is one of the largest real estate websites out there and that every home on an MLS can be found on Realtor.com. You must belong to a Realtors'(R) association to belong to an MLS to get to Realtor.com. And without a doubt you must have web marketing for your home; 90% of all people who buy a home start their search online. Beyond Realtor.com, many agents also put their listings on other real estate websites. Century 21 has access to over 30 such websites nationwide (plus it is one of the most widely recognized real estate sites itself); I myself utilize a website host that farms out my listings to additional sites nationwide.

Will you be able to show your home yourself whenever you do have an interested party? Will you be reachable 16 hours per day via telephone and email? Will you have a smartphone that allows email and web access wherever you have cell service? It's likely your Realtor(R) has state-of-the-art communication systems and, because it's their job, they are reachable all day long, often outside "normal" business hours and on weekends as well as weekdays. They are available to bring buyers to your home and present it for you in it's best possible light. Your agent doesn't have to take time off of a regular job to show your home - that is her job.

How are your negotiating skills? Can you keep an arm's length from your own transaction in order to clearly evaluate an offer? Are you aware of the various aspects of an offer that can make a full price offer less desirable than one for less because of other factors in that offer? Your agent is there to represent and promote your interests. She can be a go-between, a buffer if you will, between your off-the-cuff reactions and what you really want to say to the person making the offer. She knows what makes a strong offer and what makes one weak and she can advise you of this so that you are able to make the best possible decision as you evaluate the offer.

Let's say you find a buyer who makes an offer and it's time for escrow. Do you have the knowledge to make sure your contract is strong? Do you know all the disclosures required by California law that must be provided to the buyers? Are you aware of the inspections a buyer will want to make and how to negotiate further based on any findings from those inspections? Can you deal with the title company and make sure the escrow will go through on time and with as little hassle as possible? Your Realtor(R) has access to the most recent California Association of Realtors'(R) forms; she knows all the disclosures that need to be made; she makes it her job to follow up with all the paperwork and make sure it is signed by all parties. Your agent knows the inspections and the various findings that can be made and can be there for you to help you negotiate further if needed with the buyers based on the findings from those inspections. Your agent likely knows the title people quite well from other transactions and can easily keep tabs on things to make sure everything is running smoothly.

At the end of the day, your Realtor(R) will have earned her fees and you will be confident that you have been well served. All your questions will have been answered, all the buyer's concerns addressed; negotiations will have yielded results that all parties can be happy with. You will be able to rest assured that you haven't forgotten some vital piece of paperwork that could later result in a lawsuit with your buyers. You will have peace of mind. And that is the bottom line - as I've stated all along, my goal is to make your selling experience a comfortable one.

If you have any questions about any of this please feel free to give me a call or send me an email. This is just a brief overview of all the aspects of real estate sales that your Realtor(R) can help you with.

Current market updates from the State level

Anne Fashauer — Thu, 15 Jul 2010 22:16:00 GMT

Last week in my blog and newsletter I wrote about rural neighborliness. I must have touched a nerve - I have received more feedback on that topic than on any of my previous posts/newsletters and all of it has been positive. It feels really good to know that people are reading and thinking about these subjects. My favorite response came from one of my neighbors when I lived further out Greenwood Ridge, closer to Elk, Michael Koepf. Michael wrote to me his own memory of neighborliness:

I remember when I first moved to Greenwood Ridge in 1972 and started to build my house. This guy drives up our dusty road in an old beat up jeep; stops at our building site, and as the dust clears introduces himself in a cheerful and loud voice as Francis Fashauer. "Welcome" he shouted with a smile as he handed Mary and I a big bag of fresh vegetables from his garden, "I'm your neighbor."

Yes, that was my dad. I'm sure a few of my other neighbors from where I grew up have similar stories to tell - and that's really where I learned my own notions of neighborliness. He was a very friendly, outgoing person and I'm sure that is at least partly where I get my own love of meeting new people.

A few weeks ago three members of the Coastal Mendocino Association of REALTORS(R) went to Sacramento to attend the California Association of REALTORS(R) Spring Business Meeting and Legislative Day. This is a chance for REALTORS(R) to get together and discuss issues concerning real estate in California. Some of the information they brought back I found interesting and thought some of you might also. In a mid-year update, speakers at the meeting suggested that we are past the bottom in almost all sectors, that while Notice of Default filings are down, distressed property sales remain and probably will continue to do so for some time and that we are seeing a historic increase in the affordability of homes. Also of interest - prices throughout California have declined 58% from the peak in 2005 to the trough in Spring 2009;our local area, which is considered Northern Wine Country, declined 57.6% in the same time period. Interestingly, prices have started to increase, 14.2%, in our area (Northern Wine Country) from Spring 2009 to Spring 2010. Overall, speakers seemed to think financing is continuing to be a problem, with the higher end being especially constrained by the lack of jumbo financing.

I find most of that information encouraging and I think that buyers are starting to realize we are past the bottom; the overall consensus in my office is that buyers are coming back. So if you've been thinking about putting your property on the market, now would be a good time. Please feel free contact me if you have any questions about any of this or if I can provide market information about your property individually.

Neighborliness

Anne Fashauer — Mon, 05 Jul 2010 22:53:00 GMT

Normal 0 false false false EN-US X-NONE X-NONE MicrosoftInternetExplorer4 /* Style Definitions */ table.MsoNormalTable {mso-style-name:"Table Normal"; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-priority:99; mso-style-qformat:yes; mso-style-parent:""; mso-padding-alt:0in 5.4pt 0in 5.4pt; mso-para-margin:0in; mso-para-margin-bottom:.0001pt; mso-pagination:widow-orphan; font-size:11.0pt; font-family:"Calibri","sans-serif"; mso-ascii-font-family:Calibri; mso-ascii-theme-font:minor-latin; mso-fareast-font-family:"Times New Roman"; mso-fareast-theme-font:minor-fareast; mso-hansi-font-family:Calibri; mso-hansi-theme-font:minor-latin;}

In the most recent edition of the Anderson Valley Advertiser a local woman wrote a letter to the editor complaining about her new neighbors trespassing on her property. They were apparently trying to find their property lines – by walking around on the neighboring property. The letter writer suggested that one of the local real estate agents write an article about neighborliness and respect and country living. Being that I’m the agent locally who writes, I took that to mean that I had better address the issue.

To address her immediate complaint, let’s talk about checking your property lines. Ideally, you might have done this before you purchased the property; maybe you walked the property with your agent or perhaps you even had the property surveyed to get the actual lines marked. I think more often than not, especially on a larger piece, people take the word of their agent, who points out landmarks that generally denote the lines. Then they move in and decide they want to know for sure. So how should you proceed? If you don’t know the lines then you should first realize that you may stray off your property and onto your neighbors. The first thing I would suggest is speaking to your neighbor.

Let’s just take that thought for a minute. Perhaps the best thing for anyone to do when they move in to a new area is to go ahead and call their neighbors and introduce themselves; be “neighborly” and get things off on the right foot. That way when you decide it’s time to check those property lines you can call John and Jane Doe and let them know what you’re up to. In many cases, especially if your neighbors have been there for a long time, they can actually help you out and show you where corners are marked and so on. Not every neighbor is going to be helpful of course, and some will be downright unfriendly, but most people are nice enough if they know what you are going about. The worst thing to happen if you don’t communicate with your neighbor would be to upset him or her who then calls the sheriff out or – worse even – greets you with a shotgun and a growling dog. So do yourself a favor and introduce yourself and your intentions. You will likely find that your neighbors don’t mind your walking on their property – they just want you to ask them first.

Something else I’ve noticed in the years I’ve lived here is how easy it is for people new to the area to not understand the affect they can have by not caring what a neighbor thinks of them. In an area that is rural, in places remote, your neighbor is often the first person you will need in an emergency; if you’ve just angered John and Jane, how fast do you think they will rush to your aid when you need it? And remember, these same neighbors are often your ambulance drivers, EMT’s, firefighters, and so on. We live in a community that depends on one another; we have to learn discernment about what issues deserve causing upset and which ones we can live with.

Another thing I’ve noticed is how a few people new to an area want to change it as soon as they arrive. No one likes change, no matter how good a change it might be. Lessen your impact and any negative reaction to your ideas by first getting to know the area, the people and the reasons that things are the way they are. Then give air to your ideas – presenting them in context of actually living here.

Our community is why most of us live here. We know everyone else and if we don’t we know someone who does (or is related to them!). I was born and raised here and one thing you just know growing up is that you don’t speak ill of anyone unless you want that person to know what you had to say. There is no privacy living in a rural community; if you want that, urban living is for you. Our interdependence is beautiful; we rely on each other for food (think restaurants, farmers markets, your green-thumbed neighbor giving your tips), drink (vineyards, wineries, breweries), fun and entertainment (fairs, music, events large and small), culture (art, open studios, music again, theater, film) and relationships (parents, grandparents, boyfriends, girlfriends, etc., etc.).

Most people I’ve met that have moved here – and those people I’ve worked with wanting to live here – love what they have found. They like the community and the lack of privacy – they like belonging to a place where people know them. They want to join the ambulance or fire department, grow vegetables for the farmer’s market, join a musical group or take art lessons from one of our local artists.

I hope these notes will be found helpful for everyone living here and thinking of living here and I hope you enjoyed your community over the Independence Day weekend – I know I did!

July 4th and other happenings

Anne Fashauer — Thu, 24 Jun 2010 20:48:00 GMT

The past few weeks have been busy! I had several clients come into town to look at property and it looks like two of them have found the places they want to buy. Have they made offers yet? No. And I think this is indicative of our current buyer's market. The buyer's now know that the clock is on their side; most properties are not flying off the shelves and buyer's can take the time to research the property, the market, and even their own feelings about purchasing. There is no pressure for a buyer to make a quick offer and seller's need to adjust to this. It's frustrating for sellers and even agents, but in this market, patience is what will win the day.

Over the Memorial Day weekend I attended the Sacramento Jazz Festival and several people have asked me about that. It was a lot of fun; we listened to several great Cajun/Zydeco bands, several blues bands, lots of traditional jazz bands and even one western swing band (a Bob Wills cover band). The music was wonderful. The dance floors were Ok - better for the indoor venues, but the outdoor venues were often more fun to attend (the weather was warm but not too hot to dance), but we didn't care - I danced so much I had blisters on my feet!

Speaking of dancing, if you get a chance to visit Mendocino over the 4th of July, please stop by the Century 21 Seascape office and say hello. We have a BBQ going and it's a lot of fun. I might get a chance to be in the parade this year - the local swing group is dancing behind Tommy Brown's blues band which should be a lot of fun. The whole day in Mendocino is a lot of fun, the town being swarmed with locals and people from out of town alike. It's been a great time to see people who I don't get to see but once a year. There's also a big party in Friendship Park after the parade.

If you are in Boonville over the 4th, there is the Old Time 4th of July at the fairgrounds. That is always a good time - yummy food to purchase, friends to sit with at one of the picnic tables under the redwoods and plenty of games and entertainment, culminating with the tug o' war between the Deependers and the High Rollers.

Last evening I attended the ICW meeting in Boonville. As usual, the group of women in attendance had a very nice time, lots of good food and local wines and a very informative program. Ericka Kane spoke about beekeeping and even showed us a hive and the bees in it and the honeycombs they are working on. Pretty amazing and inspiring. I highly suggest you contact her if you think you want to keep honey bees.

I hope to see you at one of the 4th of July events!

Market optimism

Anne Fashauer — Thu, 10 Jun 2010 21:28:00 GMT

Some weeks I inwardly groan when I realize that it's time to write another blog post. What am I going to write about this week? Sometimes I get lucky and someone will ask me a question and that will spur an article. Sometimes there's an event that is happening or has happened. This week is another where I wasn't sure what to write about as I sat here thinking about it. So I went back and read some of my first posts and that in itself was inspiring. My first posts have had over 800 views! That's encouraging, for certain.

The strange weather this year is going to have an effect on us as the year continues. When I first started this blog it was harvest time. Now I'm concerned that the grow season will be too short to get my grapes ripe enough to harvest. The grass keeps growing and I think we'll be mowing into July this year! When we put in our garden this year we planted a few winter veggies for fun - thank goodness we did; we've been able to eat kale, chard and lettuce already, and the broccoli is just coming on. I'm not sure if any of the 18 tomato plants we put in will ever bear fruit - although they have had some flowers on them. The basil has grown, about a half an inch; the same with the eggplants. A sorry sight indeed. On the other hand, I haven't had to water much!

It's that time of year again - weddings. I went to one in April and now I'm attending another this weekend, down in Santa Rosa. Thank goodness the weather is supposed to be beautiful so we have that to be thankful for. This wedding is a bit of a turning point for me - I'm sure many of you have been here before as well. Usually I have attended weddings of friends, sometimes I've been in weddings of friends. Sometimes the people getting married were my friends, sometimes the friends of a beau. This time I'm attending as a friend of one of the parents of the bride, a role new to me; one of life's stages happening where I can actually see it as it unfolds.

This past week at our regular staff meeting, everyone in the room, about 20 Realtors(R), were asked their opinion about the housing market for the next six months. Most everyone is optimistic that sales will continue to grow. The reasons behind that optimism are a little dark, however. Lower prices have and continue to drive the market. We've seen a lot of foreclosures and that's brought prices down - buyer's now know they are in charge. We will likely continue to see some foreclosures this year and that will keep prices low. Most people felt that Fort Bragg has seen the bottom - sales prices have risen 6% this year according to one Realtor(R); everyone foresees Mendocino continuing to fall and the same can probably be said for the surrounding areas. Most of us think we'll continue to see people looking for the best prices for value and that sales will continue in the lower end. The economy has a ways to go before things will pick up in a big way.

I hope you are able to get out and enjoy the sunshine this weekend!

Upcoming events

Anne Fashauer — Thu, 03 Jun 2010 21:35:00 GMT

Even though the weather doesn't look like it, summer is coming and the events locally are happening rain or shine. This weekend is the Film Festival in Mendocino. From Friday through Sunday there are several films to see, including two that won Academy Awards. There are also two good bands in Caspar, one with Salsa music on Saturday night, and one more funky on Sunday night. At Lauren's in Boonville the Blushin' Roulettes are playing and in Point Arena there's Shane Dwight with blues music. Also happening in Anderson Valley is the play, Dearly Departed, at the Philo Grange Friday and Saturday nights.

On the horizon, next weekend is the free Kite Festival in Fort Bragg at Todd's Point. June 18th through 20th in Boonville is the Sierra Nevada World Music Festival, a fun event with several reggae bands, great food and many different types of articles for sale.

Will it still be raining for the 4th of July?? Mendocino will have the Parade as usual and Fort Bragg will have the World's Largest Salmon BBQ, whether or not the sun shines.

Continuing throughout the summer are the various Farmer's Markets - noon to 2pm in Mendocino and 9:45am to noon in Boonville. There are other markets - Fort Bragg, Albion, Ukiah and so on, as well. There's no excuse not to eat well this summer.

One thing we do not lack around here is a chance to get together and have a good time. Often in support of some worthy cause as well, making enjoying yourself doubly satisfying. Hope to see you out at some of these events!

Comfortable Home For Sale in Mendocino

Anne Fashauer — Fri, 28 May 2010 19:45:00 GMT

• 1,888 sq. ft., 2 bath, 3 bdrm single story - MLS® $350,000

Mendocino, Mendocino County - Comfortable home on easy to maintain 1/2 acre in Albion. Large rock-faced fireplace in the living room, updated kitchen, large family room and office/bedroom. Also includes an over-sized garage with third bath. Central heat, lots of skylights, covered porch, and backyard lawn. Front has new landscaping and picket fence. Great home for retirees or vacations. Excellent location in the country yet close to the Coast.

Property information

Mid-year statistics

Anne Fashauer — Fri, 28 May 2010 17:20:00 GMT

As I write this the sun is out and most of the clouds seem to be dissipating and we are promised a beautiful weekend. I certainly hope so; as much as we needed the rain, I'm really ready to feel some sunshine and warmer temperatures. Not to mention how nice it would be to walk my dogs without having to put on rain gear and mud boots! I read somewhere that while the calendar says May the weather feels like February - I can't agree more. I had a fire going last night even. I'm headed to Sacramento for the weekend - the Sacramento Jazz Festival - and at least there I should get the sun and warmth for which I'm longing.

I ran some statistics this morning and thought I'd share those. Year to date, Anderson Valley has had six residential and six land sales (there are currently no pending sales). Except for one sale ($6,000,000) the sales were between $213,000 and $480,000. Most sales (7of the 12) were in the mid-to-high $300,000's. The average days on market for land was 75 days; for residential it was 100 days. The $6,000,000 sale is the exception as it was on for 514 days and I excluded this as it would have skewed the data too much. The difference between list price and sales price was, on average, $22,500 under the asking price for residential sales; for land sales the average was nil - the land that went for over asking canceled out the land that went for under asking. What that means to me is that when a piece of property is priced right it spends less time on the market and is likely to sell for close to the asking price and that, with these properties at least, sellers are finding the market where buyers are looking. This information is based on sales reported in Bay Area Real Estate Information Services, Inc. (BAREIS) and is not verified and is subject to change. Listings represented may not have been listed or sold by me, Anne Fashauer, Century 21 Seascape Realty.

On the coast, from Elk to north of Westport, there have been 41 land and residential sales year to date (only five were land sales so I've lumped them all together for statistical purposes). Six were under $200,000, 12 between $200,000 and $300,000, eight between $300,000 and $400,000, seven between $400,000 and $500,000, three between $500,000 and $600,000, four between $600,000 and $700,000 and just one over $700,000. As you can see, the lower end is what is moving. The average days on market for these was 181 days. The difference in asking price versus selling price changes as you go up in asking price - between $100,000 and $400,000 the difference was $17,000 under asking; between $400,000 and $600,000 the difference was $20,000 less and between $600,000 and $800,000 the difference was much larger - $81,000 less on average. What this tells me is that property on the coast is still dropping in price - and as it does, buyers are ready to purchase. These statistics are based on sold listings from the Coastal Mendocino Association of REALTORS® MLS for the period 1/1/10 through 5/28/10 . Sales may not necessarily be transactions of this office.

I hope everyone enjoys the Memorial Day weekend!

Simple definitions?

Anne Fashauer — Thu, 20 May 2010 21:20:00 GMT

What's in a word? When it comes to real estate, some words that seem simple can actually be a little tricky. Two to look at are bedroom and oceanfront. Getting these right should be a key for a real estate agent - we want to be truthful in our advertising; we also do not want to deceive a buyer into thinking she is getting something she isn't - that can lead to mistrust and a lost relationship. It's also important for buyers and sellers to pay attention to these words and decide if they are being used accurately.

What is a bedroom? On the face of it, that seems like a straightforward question, however, when it comes to real estate, the answer is not always as simple as it seems. There are no hard and fast definitions, but generally most local real estate agents use the same definition as the county - it has to have a closet. This goes back to the tie-in between the health codes, septic systems and bedrooms. Mainly, the septic has to be big enough to accommodate the number of bedrooms in a home. Of course, we've all been in rooms that look like bedrooms but do not have a closet; some families will turn any possible space into a sleeping area in order to house a growing family! Truth in advertising pushes us Realtors(R) to be as accurate as possible. If a room does not have a closet, we are likely to call it a den or an office or something like that. Generally, we do not want to bring in a buyer who thinks they are getting three distinct bedrooms when in fact they are getting two and an office; that's going to hurt the relationship between the agent and the buyer.

There is an exception to the closet "rule." In older homes - and dating this is not easy either - bedrooms did not include closets. In times past people used armoires to store clothing, not closets. So in older homes there are rooms at are fairly obviously bedrooms but that do not actually contain a closet. In Mendocino one sees this quite a bit - a lot of the homes were built in the 1800's and the bedrooms are just four walls, a door and a window. In this instance, most agents find it acceptable to call these bedrooms despite the lack of a closet.

Ocean front seems to be another term that gets played a little loosely. Most agents agree that if you own the land up to the ocean - beach or cilff - then it is ocean front. Yet there have been instances where there is a strip of land between the home and the ocean that is owned by another entity - private or public - and still they have been called ocean front. In Fort Bragg, there is the haul road that runs between many homes (and businesses), separating the property from the ocean. There is no way the view will ever be blocked, yet these homes don't actually own land fronting the ocean itself. In these instances, the more appropriate definition would be "ocean view."

The exception here seems to be easements - if there is a trail easement along the ocean bluff, for instance, the property is still considered to be ocean front as the land is still owned by the property owners, it's just owned subject to the trail easement.

What all of this means to buyers and sellers is to pay attention and think about what it is you are trying to convey. Buyer beware, as usual - if the property description in the MLS or elsewhere says "three bedroom," take the time to make sure there really are three bedrooms - or if there aren't actually three rooms with closets, will the extra room serve your needs? Sellers should be cautious about retaining the trust of potential buyers - someone who comes to look at a three bedroom home but only finds two is likely to have a couple of different reactions - one might simply be annoyance or disgust and they will walk away without considering making an offer; another might be to make an offer, but at a price lower than asking to account for the lack of the third bedroom. The same goes for ocean front vs. ocean view - only here the value can be significantly different. Hopefully, the agent you've decided to work with, whether you are buying or selling, can help provide guidance to keep the descriptions accurate. If you have any questions, feel free to call or email me - 707-937-9216 or anne@annefashauer.com.

End of the home buyer tax credits?

Anne Fashauer — Tue, 11 May 2010 21:50:00 GMT

I was asked recently if there was any further talk of extending the Federal tax credits to home buyers. The previous tax credits were set to expire last November, 2009, but were extended until this past April 30, 2010; at that time a second credit, for current homeowners, was added. It's now May 11 and those tax credits have expired and there is no talk of any further tax credits. Some of the reading I have been doing suggests that the expiration will not have much of an effect on home sales.

Prudential Real Estate and Relocation Services, Inc. did a survey of people currently looking for a home and found that 65% of these people felt the expiration of the credits would have little or no affect on their purchasing a home. Additionally, the survey found that rising mortgage interest rates and unemployment were of more concern to them, as well as the stricter lending criteria.

Prudential also surveyed current renters and found that 75% still feel that owning a home is better than renting in the long term, and that over 70% found home ownership to be a better investment than stocks, bonds, mutual funds or savings accounts.

All of this is good news for home sellers, as it means people are still out there looking to buy homes, particularly with the current combination of low interest rates and lower housing prices. Additionally, REALTOR(R) Magazine reports that three big real estate companies are offering their own variety of incentives for buyers - Century 21 (the franchise where I currently work) is offering an $8,000 List Your Home Sweepstakes, Coldwell Banker has a Buyer Bonus Sales Event and Re/Max says some of its clients are offering things such as free appliances.

If you are a buyer, missing out on the tax credit is too bad; on the other hand, prices are lower and interest continue to be low, so it's still a good time to think about buying a property. If you are thinking of selling, it seems clear the lack of a tax credit is not going to hinder sales.

Disclosures

Anne Fashauer — Thu, 06 May 2010 19:58:00 GMT

When buying or selling property you will find that there are a lot of disclosures, so many I will only cover some of them here. Mostly it involves the seller disclosing material facts to the buyer. What are material facts? Anything about the property that could affect the buyer's decision to purchase the property. Let's take a look at some of the common disclosures.

Physical disclosures about the property - such as construction - are common. This means that if the seller knows that the roof leaks, or that a seal is broken in one of the dual-paned windows, or the hot water heater needs to be replaced, this information must be passed on to the buyer. Failure to do so could result in a lawsuit later when the buyer discovers the leak and sues the seller over the non-disclosure. There is also a disclosure about lead-based paint - the seller needs to disclose whether or not there is lead-based paint in the home - or if they do not know, they must state that.

There are neighborhood disclosures as well. Is the property near a golf course? That must be disclosed in case of errant golf balls. Near a former military site? Disclose that. Noisy neighbor, maybe someone who runs a loud business from home (think sawmill or other some such)? Disclose that. Even noisy neighbors if law enforcement has been called about the noise should be disclosed. If you live near an airport (think Little River or Boonville) you need to disclose that.

Some disclosures are more esoteric - Meghan's Law disclosures, for instance. Or how far the property is from emergency response services. Even cost of wireless internet connections. Fortunately, these types of disclosures are covered by a California Association of REALTOR'S(R) form, the Statewide Buyer and Seller Advisory. This is a ten page form that covers 43 different disclosures.

What are the responsibilities of the various parties to a real estate purchase pursuant to disclosures? Per the CAR form referenced above, the buyer is strongly advised to conduct investigations of the property both personally and via professionals. The seller must disclose material facts and make the property available to the buyer for inspections. The broker (real estate agent) is responsible for making a visual inspection of accessible areas of the property and disclosing material facts obtained in that inspection; however, be aware that brokers do not have expertise in all areas and matters affecting the property and should not be relied upon to provide all the information a professional can.

What if you don't know anything about the property you are selling? For instance, your aunt passes away and leaves you her house and you decide you would rather sell it than keep it. In your disclosures you can simply state that you don't know anything about the various areas of disclosure. Just remember to disclose what you know - or if you don't know anything to disclose!

As always, if you have questions about this or anything related to real estate, give me a call or an email - 707-937-9216 or anne@annefashauer.com.

Spring is here!

Anne Fashauer — Thu, 22 Apr 2010 22:46:00 GMT

This weekend is jam-packed with stuff to do! There's the Cops N Robbers ball in Anderson Valley, blues in Point Arena and too many choices on the Mendocino coast to name. One is going to be hard-put to decide what to do - unless you're me and you are headed to Puerto Vallarta. Last fall I had the opportunity to purchase a week's stay at a resort down there for $179.00 - for the whole week. I couldn't pass it up and a girlfriend and I are headed south. I leave this Friday and will be gone for a week. This trip is more vacation than my fun-filled week in New York (which was a last minute opportunity) and I won't even be able to check my voice mail - there's no US Cellular service down there.

It's been another busy week in real estate and I think that's a great thing. I just ran some Coastal Mendocino Association of REALTORS(R) reports and see that in 2009 in areas covered (Westport to Point Arena and Anderson Valley) there were 126 total sales, 93 of those residential. This year to date we've had 36 total sales and 26 residential sales. (To be clear, those are total sales in the MLS, not my personal sales.) I've had one new listing and two more contacts from others interested in listing their property for sale. My one listing has been shown a lot and that tells me there are a lot of buyers out there looking. And they are looking to buy - although it wasn't my listing that was chosen, one of the people looking at my listing did make an offer on another place.

The weather has been pretty beautiful of late, interspersed with some late rains and strong, but seasonal winds. The grass is really growing and I see people running grass cutters everywhere. My horses can't eat it down fast enough. The good news there is that I won't have to buy hay this summer at all. The bad news will be when it dries out and we have to beware of the fire danger. Remember to keep your grass cut and keep it and brush away from your homes. Just two years ago we got a taste of what fire can do and let's not forget it.

I'm not sure if I'll have access to the internet while in Mexico, but if I do, I'll be sure to send an update. Until then, Que la vaya bien!

New listing in Rancho Navarro!

Anne Fashauer — Tue, 13 Apr 2010 23:20:00 GMT

• 1,150 sq. ft., 1 bath, 3 bdrm single story - MLS® $495,000

Navarro, Anderson Valley - Sweet cottage in forest and meadows of Rancho Navarro. Three bedrooms, one bath, fenced orchard and garden area, small pond, meditation platform. Hardwood floors throughout (oak and bamboo)except kitchen and baths which are tile, open beam ceilings. Very light and open feeling. Pond can be used for irrigation. One car garage has 220 for woodworking. Extensive decks around the house. Feels very private and peaceful and yet is close to either Boonville or the coast.

Property information

I just listed this very sweet cottage in Rancho Navarro. It's a peaceful location with lots of trees and open meadows around the home. There are large decks around the house and several fenced areas for garden, flowers and an orchard. The home is of a size that is easy to maintain and yet feels very open and inviting. Give me a call and we can go take a look at it!

Contingencies

Anne Fashauer — Wed, 07 Apr 2010 21:45:00 GMT

I'm sometimes asked questions about a property by a prospective buyer to which the answer is not immediately known. Some of these questions can be quickly tracked down and answered but sometimes the type of question is best answered during an escrow. Getting a favorable answer to the question becomes a contingency of the sale. Most people are familiar with the type of contingency that requires a buyer's existing property be sold before being able to complete the purchase of a new property. This buyer makes an offer to a seller of a certain price contingent upon the sale of her/his existing property. However, there are other contingencies and not everyone is familiar with these.

There are inspection contingencies, for example. Standard inspections are pest (termite, mice, etc.), roof, septic and well. During escrow the buyer is encouraged to have all of these inspections conducted on the subject property; the buyer makes her or his purchase of the property contingent upon all of these inspections yielding favorable results.

If a person is buying into a property with a home owners' association she/he can make investigations in to the finances and running of the HOA and make a favorable finding a contingency of the purchase.

Another common sales contingency is where a buyer needs to obtain a loan to purchase the property and the sale is contingent upon the buyer obtaining financing. In a seller's market buyer's are encouraged to get pre-qualified for a loan so that when they find the property they want to buy they can jump right in knowing this hurdle is complete. In a buyer's market this is less important, but I do want to say that generally, it is a good idea to know how much house you can afford before you start looking or else you might end up disappointed. Another time that it is imperative to be pre-qualified is if you are in the foreclosure market; these places tend to move quickly and get multiple offers; often the seller requires all buyer's to be pre-qualified. Either way, if you aren't and you try to compete for a bank-owned property your offer will fall behind other offers with pre-qualifications.

Generally, if there is any type of question about a property that is not immediately answerable the buyer can make finding out the answer and being happy with the answer a contingency of buying the property. Alternately, the buyer may find out that the answer is not favorable and still decide to go ahead with the purchase. The price might be altered to reflect this decision. For example, if the roof needs replacing, the buyer might lower the offered price by the amount estimated to replace the roof; of course, the seller can then decide if he/she wants to take this revised offer. Another aspect of contingencies is that there is generally a time limit for conducting inspections, often 17 days; that allows the buyer to get the answers but also protects the seller's by keeping things moving along in a timely fashion.

I also get asked if a seller should take an offer with contingencies. This is a case-by-case situation, of course, but generally, inspection contingencies are normal and almost all sales will be subject to them. However, accepting the type of contingency whereby the buyer's ability to pay for the new purchase is contingent upon selling existing property is likely to be affected by the type of real estate market in effect at the time of sale. In our current market, where the average days on the market is around 200, a seller is less likely to want to take their property off the market while waiting for the buyer's property to sell.

Generally, many sales contingencies serve to protect the buyer from buying a property with unknowns; if you like a property a lot and want to purchase it, these contingencies should make you feel comfortable entering into escrow on a property knowing your questions and concerns will be answered and that if the answers aren't what you expect you can get out of the escrow at that point (so long as the inspection period is still valid). For many first-time buyers it seems scary to be making an offer to buy something you don't have all the answers to right away, but that's why we have escrow and inspections and contingencies.

Hope you are enjoying the sunshine!

Real Estate Agency Relationships

Anne Fashauer — Wed, 31 Mar 2010 23:22:00 GMT

1024x768 Normal 0 false false false EN-US X-NONE X-NONE MicrosoftInternetExplorer4 /* Style Definitions */ table.MsoNormalTable {mso-style-name:"Table Normal"; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-priority:99; mso-style-qformat:yes; mso-style-parent:""; mso-padding-alt:0in 5.4pt 0in 5.4pt; mso-para-margin:0in; mso-para-margin-bottom:.0001pt; mso-pagination:widow-orphan; font-size:11.0pt; font-family:"Calibri","sans-serif"; mso-ascii-font-family:Calibri; mso-ascii-theme-font:minor-latin; mso-fareast-font-family:"Times New Roman"; mso-fareast-theme-font:minor-fareast; mso-hansi-font-family:Calibri; mso-hansi-theme-font:minor-latin;}

This week I’ve decided to write about real estate agency relationships and the duties real estate agents owe to their clients and customers. When you enter into an agreement involving a real estate agent, either by listing your property for sale or by submitting an offer on a piece of property through your agent, you should be given a form describing agency relationships. Before you enter such an agreement you may not know the duties owed to you by your agent or the duties that agent owes other people involved in the transaction – and even if you’ve been in such an agreement, it’s likely that this was explained once, briefly, and you may not have fully understood what was said.

Let’s start with the Seller’s Agent. This is the Agent who has the property listed for sale with the property owner. The Seller’s Agent owes the Seller the fiduciary duty of utmost care, integrity, honesty and loyalty in dealings with the Seller. According to Wikipedia “a fiduciary duty is a legal or ethical relationship of confidence or trust between two or more parties.” What this means is that the Agent needs to put the Seller’s needs above their own. Wikipedia again: “good conscience requires one to act at all times for the sole benefit and interests of another, with loyalty to those interests.”

The Seller’s Agent also owes something to the Buyer (and the Seller): Diligent exercise of reasonable care and performance in the Agent’s duties, honesty, fair dealing and good faith, and a duty to disclose all material facts relating to the property in question.

A Buyer’s Agent owes the exact same duties, loyalties, ethical behavior and honesty to the Buyer as the Seller’s Agent owed the Seller. In addition, the Buyer’s Agent owes reasonable care, honesty, good faith, etc., and the disclosure of material facts to both the Buyer and the Seller.

These are basic duties owed to clients by all real estate agents in California. In addition, some of you may remember my post about ethics in real estate. Most real estate agents in our area are also REALTORS® and to become a REALTOR® one must also agree to and sign a Code of Ethics. This takes those fiduciary duties a step further in that a REALTOR® agrees voluntarily to act ethically. This also means that if a REALTOR® acts unethically or fails in her or his duties the wronged party(ies) can file an ethics complaint with the California Association of REALTORS® (CAR).

Here’s an example of not putting a Seller’s interests above the Agent’s: Let’s say an Agent has a property listed for sale and the Agent gets two offers on the property at roughly the same time. Both are presented to the Seller by the Agent. It is now up to the Seller to decide which offer to accept. Of course, the Seller is probably relying on the Agent for advice and that is a good thing. Let’s say the two offers are basically the same – price, conditions, etc. Let’s also say that the Agent is acting as a Dual Agent – meaning she/he is the Agent for this other Buyer as well as the Seller. What this means for the Agent is that if her/his Buyers gets the property, this Agent will get the full commission, rather than splitting it with second Buyer’s agent. Let’s also say that for one reason or another, the Seller has a personal preference for one of the Buyer’s – maybe they know each other, maybe the Buyer included a letter about themselves that touched the Seller, whatever the reason, the Seller is leaning toward the one Buyer and tells the Agent, “I’d like to see this Buyer get the property, but since both offers are basically the same, let’s find out if this Buyer can offer $10,000 more; if they can, the property is theirs.” Now let’s say the Agent does not do this; instead the Agent goes back to the preferred Buyer and says “How much higher can you go?” And for whatever reason, this Buyer does not want to get into a “bidding war” and decides to back out at this point. This now leaves the Seller’s Agent with only her/his clients buying the property and means that she/he will get the full commission. However, this also shows that instead of acting in the interests of the Seller the Agent acted in her/his own interests, not communicating exactly what the Seller said to the Buyer and instead acting in such a way for her/his own financial gain. This would be a violation of the fiduciary duty owed toward the Seller and a violation of the Code of Ethics. Were the Seller or Buyer to become aware of such a breach of duty and ethics, the Seller or Buyer could then file a complaint with CAR.

I hope this helps clarify the role of the real estate agent in dealing with Seller’s and Buyer’s. As always, please feel free to contact me with any questions.

Lots to do!

Anne Fashauer — Wed, 24 Mar 2010 21:59:00 GMT

A few days ago we had unseasonally warm weather - it was 80 degrees on my front deck. I was able to open all the windows in the house and air it out; it was lovely. Today and the past few days we've much more normal March weather. Cooler mornings - it was 44 this morning at 7am at my house - days up to about 60 degrees and a bit of a breeze that is chilly. I always think of March as being windy - my least favorite time of year for that reason. On the other hand, the grass is starting to grow. I don't have to feed my horse hay any more as there's enough nutrition in the grass now; the pony, on the other hand, has to be muzzled with a special grazing muzzle to keep her from overdosing on all that good stuff. The grass around the house needs cutting and I hear people mowing and running weed cutters everywhere I go. Spring is definitely here, despite the forecast for rain and hail tonight!

This weekend brings one of my favorite events - the Elk Rummage Sale put on by the Greenwood Civic Club. The sale is Saturday and Sunday (you can drop stuff off for the sale today and tomorrow) and last year I got some great things - a nice set of sheets, a brand new handbag, a couple of kitchen gadgets and a couple of novels. There's very good food to eat, so you can shop, then recover with a cup of coffee or tea and a snack. The Civic Club is a wonderful local organization that returns to the community all that it makes at this sale and through other ventures; they support the Elk Volunteer Fire Department, they support the local Elk website, www.elkweb.org, they provide scholarships to local kids and they support the Greenwood Community Center in several ways, one large one being funding the Children's Program each summer.

Also happening this weekend in Mendocino is K-12 Festival of the Arts in the Arts Building at the new K-8 school; there will be musical performances by several different school groups. This event starts at 1pm on Saturday.

The General Knowledge and Trivia Quiz has started up again in Anderson Valley. It is now being held at Lauren's Restaurant in Boonville and starts at about 6:45pm on Thursday evenings. There won't be a Quiz this week but it will resume again on April 1st. I missed the past two weeks (one during my New York trip) but did make it to the inaugural event and it was a blast. Lauren's food is always very good, fresh, some local and some organic. On Thursday evenings the Peanut Butter and Jam band also practices at Lauren's starting around 9pm, so you can stay after the Quiz and listen or dance to some great jazz.

I hope to see you at some of these local events!

Home buyer tax credits expiring

Anne Fashauer — Thu, 18 Mar 2010 22:42:00 GMT

The two home buyer tax credits are expiring at the end of April. To take advantage of them, besides meeting their general requirements, you need to be under contract to buy a home before the last day of April. This should also be a wake-up call to anyone thinking of listing their home for sale - if you want to attract buyers who want to take advantage of these credits, you need to get your home listed now.

What are the two credits? One is for first time home buyers. The credit is for up to $8,000; the contract must be signed on or before April 30, 2010 and the deal must close within 60 days of the April 30th date. You are considered a first time buyer if you have never owned a home before or have not owned a principal residence in the last three years. There are limits based on income - $225,000 for couples, $125,000 for individuals. The home cannot cost more than $800,000 and it must be purchased as a primary residence.

The second credit is for existing home owners. The credit is for up to $6,500; you have to have lived in your current home consecutively five of the last eight years. The income limits and price limits are the same. You do need to occupy the new home as your primary residence but you do not have to sell your existing home.

On both of these credits there are more criteria and restrictions and you should consult a tax attorney to get the specifics for your situation; what I've provided here is the basic information to get you started.

After the whirlwind tour of New York it's good to be home and I'm enjoying the beautiful sunshine and 70 degree weather - I hope you are also. The farrier is due at my house tomorrow and I think it's time to take a ride on poor Jac, my gelding who constantly looks at me and wonders why we haven't gone out much the past few months.

If you have any questions about the credits or about listing your property for sale, give me a call or send me an email - you can find my info on my website or in my ad in the AVA.

New York!

Anne Fashauer — Fri, 12 Mar 2010 17:00:00 GMT

It's been a very busy and fun-packed week here in New York. We arrived a week ago in the late afternoon and immediately after checking in to the hotel we ran out and saw Memphis. What a great show - I highly recommend it. The rest of the week felt like that - brief stops at the hotel before running out for some other adventure. We saw two other shows, Mamma Mia! and Jersey Boys. I liked Jersey Boys second best, with Mamma Mia! coming in third. That doesn't mean it wasn't great, just that the other two were even better. I went to the Frick, the MOMA and the Metropolitan museums. My favorite museum was the Frick - smaller and more personal with some beautiful paintings. I know now I like Turner. But the paintings with the most affect on me were the largest Pollock at the MOMA and the Clyfford Still also at the MOMA. I saw several other Pollock's and Still's at the Met that I liked a lot, but those two affected me so much I went back one afternoon and spent a couple of hours with them.

I have eaten and drank so much good food and wine it's hard to catalog it all. We had South African food the first night (dinner at midnight - only in New York!), fantastic home-cooked Korean food Sunday, yummy Italian Monday, a very high end steak house called Quality Meats Tuesday, a simple fish dinner Wednesday and another great steak house, Ruth Chris last night. I've also eaten pizza, cannoli, a pastrami sandwhich from Katz's Deli and today I finally am getting out for a bagel. I've been exposed to more Zinfandels than I thought possible, plus great, really great, South African sauvignon blanc, French Sancerre, an Alsacien beer and four or five bottles of fine French champagne. Oooo la la!

I did quite a bit of shopping - bargains galore. I also saw the World Trade Center site; still moving after all of these years and met a fire fighter who was there that day. Yesterday I met up with two girlfriends from my semester at Fordham University. We had lunch on Arthur Avenue in the Bronx and bought the yummiest cannoli in the world there.

I'll have more real estate news next week. Now I need to go get that bagel and pack for the trip home.

Local attractions and the Big Apple

Anne Fashauer — Thu, 04 Mar 2010 23:51:00 GMT

You know how you can live in a place and still not take advantage of all that there is to offer? For years I lived in San Francisco, but other than the first trip to Alcatraz when I was a freshman at USF I never went there again. Well, this past weekend I took a walk for the first time on the Haul Road in Fort Bragg. What a beautiful place to walk! I highly recommend it the next time you want to go to the coast. We took three dogs with us and there were many others also being walked on Sunday. The weather was stunning and you could see the bigs waves rolling in and smell the salty tang of the ocean; so refreshing. You can walk or bicycle - we saw lots of those as well. My new pooches are very frightened of them but by the end of the walk they were no longer as afraid.

The other thing I've been doing is taking swing dance lessons, which has been an incredible amount of fun. This has gotten me out to the Caspar Inn for a couple of bands as well and that is another venue that is really not to be missed. They get some great music there and it's fun to dance to it. For years I've heard about the Caspar Inn but it's only recently that I've been really taking advantage of that.

Real estate is still picking up. There are several escrows in the Century 21 offices. A recent statistic from my broker is that Century 21, between the two coast offices, has over 30% of all the listings on the coast. That's pretty amazing and a good reason to list with us - we're getting more traffic because of that. I've been getting several inquiries on my listings and have had several other showings as well. It feels good to be busy again. The funny thing is that I've had several inquiries in just the last couple of days - just as I head out of town; everyone always says, if you want to get busy, try to go on vacation.

So I'm headed to New York City! I leave tomorrow, Friday, morning and return the following Friday, although I'm actually not home until Saturday as I've a bridal shower to attend in St. Helena on Saturday afternoon. I'm very excited to go back to New York - it's probably been 15 or 20 years since I was last there. I did a semester at Fordham University and I'm going to see several of my old friends while I'm back there. I'm also going to see Mamma Mia and Memphis - and I might even get in some swing dancing while I'm there. I will try to write a blog entry while I'm there just to tell you what it's like. I'm prepared for cold - I'm bringing lots of boots and scarves and clothes to layer.

Don't forget it's the whale festival on the coast this weekend and next - and the subdudes are playing at Cotton Auditorium. I'd be there if I weren't going to be in New York. See you in a week!

Ethics and real estate

Anne Fashauer — Fri, 26 Feb 2010 23:53:00 GMT

To get a license to practice real estate in the state of California you have to take three classes and pass a test. To become a REALTOR one has to do that and sign a Code of Ethics. One thing I want to point out is that in our local area we are very fortunate - almost every one practicing real estate is also a REALTOR - something like 95%. Across the state that number is only 34%.

Last Friday I spent the day in Fort Bragg at a special training offered by our local Realtor's association. We were very lucky to get Susie Kater, California Association of Realtor's senior legal counsel, to come all the way from southern California to give the classes. The first class was to teach us about serving on the Greivance Committee. This committee is put together to hear ethics violations charges and to pass judgement as to whether or not a violation has occured. If a violation is determined to have occured, then a hearing is held by the Professional Standards Committee. Finally, the Board of Directors of the association is there to review decisions made by the other committees. The training was very good and very interested and it allows those of us in attendance to serve on any of these committees for the next three years.

Upcoming local events include the Whale Festival in March. One special event is that the subdudes will be at Cotton Auditorium in Fort Bragg on March 6th at 8:00pm. I suggest you purchase tickets soon - they are a fabulous band and a lot of fun. In addition, there's a special Creole dinner before that, from 5:30pm to 7:30pm right next door to Cotton Auditorium. I recommend checking out the KOZT website for more information. In addition, there are several food events and more music events happening during March in connection with the whale festival.

Enjoy the rain - stay dry and warm. Ciao until next week.

Mid-February "spring break"

Anne Fashauer — Tue, 16 Feb 2010 23:45:00 GMT

We often get this little break in the weather in February that reminds us that Spring is coming. It's been beautiful - in the 70's at my house and 59 this morning early. I hope it was beautiful wherever you are also.

Things continue to be on a better course in the real estate world. Looking at the recent activity, there are several new pending sales and a number have also closed escrow. In our last staff meeting it was pointed out that Century 21, the two offices, have 17 properties in escrow, while most of the other agencies have one or none; in addition, several of those single escrows have a Century 21 agent on the buying side. That helps prove that Century 21 is the most recognized name in real estate, with something like a 97% recognition rate (per Century 21).

One of the organizations I belong to is the Soroptomist International of Mendocino group. Each year our big fundraiser is the Bingo Bash, a night of fine dining and bingo with incredible prizes. Last year we raised about $11,000, returned to the community as scholarships, the Women's Opportunity Award and donations to the Mendocino Coast Clinics in October last year to cover *** cancer screenings - one woman actually found she had cancer and was treated thanks to our donations! The event takes place on the 27th and there are still a few spaces available but they are going fast - this is one of the winter social highlights. If you would like to attend please let me know right away.

Last Saturday night I attended one of the Valentine's dances in Fort Bragg. I want to give a plug for the Bob Ayres and the Boonville Big Band. What a wonderful job they did! If you get a chance to listen (and dance) to them, take the opportunity. You won't be disappointed.

This week I get the opportunity to take a Professional Standards training, sponsored by our local Realtor's association. There is also grievance training; the training allows those of us taking it to be on panels for internal grievances and ethics violations. It should be very interesting.

Hope everyone has a great week!

Single Story For Sale in Philo

Anne Fashauer — Tue, 16 Feb 2010 23:41:00 GMT

• 2,500 sq. ft., 1 bath, 2 bdrm single story - MLS® $550,000

Philo, Anderson Valley - Commercial parcel in the town of Philo. Includes large building that was a store once upon a time (currently houses Starr Automotive) and two bedroom residential home. Large building could continue as auto repair but would also make good custom crush facility, restaurant or wine tasting room. Whole lot is paved; good water and septic system. Sits directly across from Scharffenberger Cellars with views of vineyards and hills. Parcel consists of three lots; could get certificate of compliance on these three.

Property information

Getting pre-qualified for a mortgage

Anne Fashauer — Tue, 09 Feb 2010 23:09:00 GMT

I was reminded today of the importance of a buyer speaking with a mortgage lender prior to beginning the home search process. I received a call from a local renter wanting to take advantage of the current buyer's market. I suggest the person speak with our local Century 21 Mortgage broker, Steve Guenza; all of our agents have enjoyed working with Steve, whose gone the extra mile to help people get mortgages and make sure escrows close. In this particular case the person was unable to qualify for the mortgage but now knows what to do so that in a couple of years qualifying will not be an issue. Taking the time to speak to the mortgage broker saved that buyer the potential heartbreak of finding the dream home only to know it was unobtainable. In general, knowing what you can afford allows your Realtor to only show you properties in your price range and avoids disappointment.

Yesterday I picked up my two new pooches! Gus and Bitsy. Both are Toy Fox Terriers, rescued from a hoarder who had over 60 dogs. Gus is about 7 pounds and Bitsy is about 4; she is absolutely the tiniest thing - so delicate it's scary. They are sweet, loving and already a good fit with my other two and my mom's one. (And yes, that's five in my house now.) After my last TFT was killed a year ago I didn't think I would get another small dog, but I felt my heart being tugged every time I saw a little dog, so I decided it was time to adopt a couple of them - well, I only wanted one, but these two came as a pair. It feels good to give a good, loving home to a couple of otherwise maltreated dogs.

Business continues to be busy. I have more clients coming in to town this weekend to look again and I get the feeling that other Realtors are seeing the same thing - people are ready to buy. I am noticing that sellers are coming to terms with the reduction in prices and I am not getting the same disagreement on pricing that I got even a year ago. The general pick-up in the economy isn't hurting either.

I hope it is as beautiful and sunny where you are today as it is here in Mendocino today. Utterly gorgeous. Makes me glad I live and work in this county.

This weekend is a weekend to dance! The Anderson Valley Health Center is holding a benefit at the Philo Grange with Catfish Jack and Maria Villaboy opening for Dean Titus and the Coyote Cowboys. Up in Fort Bragg the Boonville Big Band is holding a dance to benefit the Mendocino Sister Cities project. Both should be a lot of fun - but how to choose which to go to???

Hope to see you at one of them!

Do you want to be a landlord?

Anne Fashauer — Tue, 02 Feb 2010 23:46:00 GMT

Last week was so packed with stuff I did not get a chance to write and I apologize for that. I spent two full days showing property which was really fun and exciting. I also had things like the Elk Town Meeting and the monthly Realtor's association luncheon. It was just one of those weeks.

I promised to write a little about being a landlord. I can only really write from my personal experience, which has been very positive. I've had great fortune with my tenants, in both cases being single women who like to garden and keep an immaculate house. In both cases, I found that checking references and credit history were key in making sure I was getting good people. Because my tenant's live in a home on my property I am easily accessible to them and can quickly fix things that need repair. That is definitely a consideration for becoming a landlord - how far away will you be living? Will you want to make the drive on short notice? The alternative if you do live away is to hire a property management company to look after things for you. Century 21 Fort Bragg Realty offers this service out of that office. They take all the calls, take care of renting the properties and take care of maintenance. You simply pay them to do this so you aren't bothered directly.

This market has made investing in real estate more viable than in many years. You can get a large part of the mortgage payment covered by the rent, depending on what you spend in your initial investment. Some of the better priced properties in the Fort Bragg area are perfect for converting to rental homes; the lower the price, though, the more you may need to invest in initial repairs and upgrades.

Last weekend was the Anderson Valley Film Festival, from Friday evening through Sunday early evening. I was able to attend Sunday and really enjoyed the films - they ranged from a home video from the late '60's of the felling of a giant redwood - the infamous "one log load" on Hiatt's truck - to a wonderful film called Rivers of a Lost Coast about fly fishing on north coast rivers from the 40's through the 80's, to the National Geographic film about Mike Fay walking from Big Sur to Oregon through the redwoods. It's an annual event and a lot of fun and the films are truly amazing.

This weekend is the annual Catholic church crab feed in Boonville. It is probably the largest social event of the season. Everyone who manages to score a ticket goes and there's tons of crab, salad, garlic bread, a huge raffle and plenty of wine to drink. Then the 13th sees the Anderson Valley Health Center benefit dance at the Grange in Philo. Catfish Jack and Maria Villaboy open for Dean Titus and the Coyote Cowboys. It's sure to be a lot of dancing and listening fun!!