Year End Report

As you might expect, the news continued its negative slant in the real estate arena and the numbers reflect that. Bodega Bay and the entire Coast saw reductions in price over the past twelve months, much of this due to the lack of activity in the upper end. Lower priced homes continue to bring out buyers, causing downward pressure on higher priced homes. This is expected to continue through much of 2011 but still provides plenty of great opportunities throughout the market - even at the high end.

Fast Facts 12/22

Fast Facts
Calif. median home price: November 2010: $296,820 (Source: C.A.R.)

Calif. highest median home price by C.A.R. region November 2010: Santa Barbara So. Coast $874,500 (Source: C.A.R.)

Calif. lowest median home price by C.A.R. region November 2010: High Desert $124,580(Source: C.A.R.)

Calif. First-time Buyer Affordability Index - Third quarter 2010: 64 percent (Source: C.A.R.)

Mortgage rates: Week ending 12/16/2010 30-yr. fixed: 4.83 Fees/points: 0.7% 15-yr. fixed: 4.17% Fees/points: 0.7% 1-yr. adjustable: 3.35% Fees/points: 0.7% (Source: Freddie Mac)

Latest Market Summary for Nov. 2010

The news remains cautious at best and while we're seeing a bit of activity, much of it is still on the lower end (with many cash or near-cash buyers)...

Fast Facts

Calif. median home price: October 2010: $304,220 (Source: C.A.R.)

Calif. highest median home price by C.A.R. region October 2010: Santa Barbara So. Coast $864,000 (Source: C.A.R.)

Calif. lowest median home price by C.A.R. region October 2010: High Desert $125,060 (Source: C.A.R.)

Calif. First-time Buyer Affordability Index - Third quarter 2010: 64 percent (Source: C.A.R.)

Mortgage rates: Week ending 12/2/2010 30-yr. fixed: 4.46 Fees/points: 0.8% 15-yr. fixed: 3.81% Fees/points: 0.7% 1-yr. adjustable: 3.25% Fees/points: 0.6% (Source: Freddie Mac)

Mortgage Trends since 1971

Our local mortgage expert Greg Erigero provided this interesting history of 30-year fixed rate mortgages since 1971. Let's hope we never see rates like those in the early 80's again...

Latest Market Summary for the Coast

We have a new format for the local market summary and I hope you find it useful. There's a lot of information packed into one page so if you have any questions or want to discuss any of the data, just give me a call or email me at steve@coastalagent.com.

Fund Set Up for Injured Bodega Firefighter

FROM SONOMA COUNTY FIRE CHIEF MARK ASTON. ALSO VISIT BODEGA FIRE DEPARTMENT'S WEBSITE.


Sonoma County Fire and Emergency Services, CAL FIRE and all local Sonoma County fire districts are closely monitoring the medical condition of Bodega Fire Volunteer firefighter, Ben Hakala. While actively working on the “Bodega Fire” on September 25, 2010, near the town of Bodega, Ben sustained substantial electrical shock when he came into contact with an energized downed power line.

Chief Mark Aston, Sonoma County Fire, Chief Ron Albini, Bodega Fire, CAL FIRE Battalion Chief Robert Sherman and Retired CAL FIRE – Fire Captain Hank Epling visited with firefighter Hakala yesterday to follow up on his treatment and to provide comfort and support to Ben’s wife and family members.

Ben underwent surgery yesterday morning and is listed in critical but stable condition. Doctors expect him to remain in the hospital for approximately two weeks for further treatment and recovery. It is not known at this time if further surgery will be necessary.

Ben has been a volunteer firefighter with the Bodega Volunteer Fire Company for 12 years. He has been employed with CAL FIRE, Sonoma-Lake-Napa Unit for 11 years as a seasonal employee at the Santa Rosa Station.

Sonoma County Fire has created a trust fund on behalf of the Hakala family. Donations can be sent to the Ben Hakala Trust Fund in care of Bodega Volunteer Fire Company at PO Box 28, Bodega, CA 94922.