The 18-month old program that allows homeowners increase the efficiency of their home (like high efficiency heaters, solar panels, insulation, etc.) and finance the cost through the County is being threatened by the agency that oversees Fannie Mae and Freddie Mac.
In my opinion, this organization misunderstands the program and potential benefits that these organizations may realize should they fully support it.
Although the cost of the improvements is attached to (and paid back through) the annual property taxes, the increased value of the home should more than cover any increased risk of foreclosure. Spreading the cost of the improvements over a 20-year period helps minimize that risk and reduces the cost of ownership through lower energy bills. And that's the whole point, isn't it?
Here's an article from NPR that summarizes the current situation.
15 July 2010
A quick update on the market...
Following a strong Month in May, June took a step back with only five homes placed in escrow - compared to 17 last month. Nine homes closed escrow in June at a median price of $575,000 and nearly half were bank-owned or short sales.
That said, the number of REO's appears to be dwindling which could lead to some more stability. We've held a very steady median price over the last 12 months and I'd expect that to continue.
In addition, we're seeing continued near-record lows on interest rates - even for jumbo loans - and inventories are higher, but not out of our normal range.
I'll have a full report on July's numbers around the first of August.
That said, the number of REO's appears to be dwindling which could lead to some more stability. We've held a very steady median price over the last 12 months and I'd expect that to continue.
In addition, we're seeing continued near-record lows on interest rates - even for jumbo loans - and inventories are higher, but not out of our normal range.
I'll have a full report on July's numbers around the first of August.
10 July 2010
Coast to Get New Verizon Wireless Tower
Verizon Wireless is installing a new tower at 5827 Sierra Grande Drive in Sereno del Mar, approximately five miles north of the town of Bodega Bay. Placement of the county-permitted 40 foot high pole will happen this month.
The cell site is meant to cover the area between Carmet and Sereno del Mar and parts of Highway One.
Heidi Flato, Public Relations Officer for Verizon Wireless Northern California and Nevada Region, said, “Our goal is to provide the best possible wireless voice and data service for our customers.”
“We are trying to improve service in the West County, parts of which are currently un-served.”
Click here for the Press Democrat blog post
The cell site is meant to cover the area between Carmet and Sereno del Mar and parts of Highway One.
Heidi Flato, Public Relations Officer for Verizon Wireless Northern California and Nevada Region, said, “Our goal is to provide the best possible wireless voice and data service for our customers.”
“We are trying to improve service in the West County, parts of which are currently un-served.”
Click here for the Press Democrat blog post
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