www.SierraArtTrails.org

If you or some of your friends are interested, here is information and some links about the Sierra Art Trails and my showing at our Bass Lake Realty Oakhurst Office on Saturday and Sunday, October 1 & 2, 2011.

There will be over 90 artists & artisans participating in our local Yosemite Foothills so be sure to stop our Bass Lake Realty Office in Oakhurst, Show Site #33 for a visit. 

Bass Lake Realty Oakhurst Office, 40282 Highway 41, Suite 1, Oakhurst, CA 93644 www.BassLakeRealtyOakhurst.com

I will have Silk Art Designs, photography, greeting cards and framed art for you to enjoy.

Experience the arts at our Bass Lake Realty Oakhurst Office.

Look forward to seeing you!

Judith Ann Durr
www.ThePraiseWorks.com

The $18 catalog/map admits two and the catalogs are available at: The Good Ol Daze, Bass Lake Williams Gallery West – Oakhurst or by phone at 559-658-8844 (Plus I have some catalogs available also)

Like many communities in Eastern Madera County, Yosemite Lakes Park is considered “above the fog, below the snow” which is generally true. Yosemite Lakes Park is hot in the summer and cold in the winter, cold being a relative term since California Sierra Foothill “cold” isn’t really cold compared to norther climes.

YLP was approved in 1970, recorded June 30, 1970, consisting of 2,263 lots on 34 sheets of subdivision maps. Yosemite Lakes Park has a property owners’ association known as Yosemite Lakes Owners Association owning the common areas making YLP a common interest development. Click Here for the Yosemite Lakes Owners Association Site… There are binding Declarations of Restrictions (CC&Rs) appurtenant to Yosemite Lakes Park property with associated fees and restrictions. As is always the case with common interest developments, the self-government road is bumpy at times.

Yosemite Lakes Park common interest property includes:

• Clubhouse with Restaurant, Lounge and Library
• 9-hole Golf Course with Pro Shop
• Hiking & Riding Trails
• Fishing Lakes
• Horseback Riding with Boarding Stables
• Swimming Pool
• Tennis, Basketball, Volleyball Courts
• Little League Baseball Field
• Picnic Areas
• Private Security
• Storage Facility
• Coffee Shop

Local vendors include:

• Grocery Store
• Liquor Store
• Hardware Store
• Gas Station
• Sandwich Shop
• Dentist’s Office
• Real Estate Offices
• Exercise Gym
• Dance Instructor
• Dog Groomer

Yosemite Lakes Park is really a town in and of itself.

The permitting process is still proceeding through the several agencies involved.  Submitting the applications concurrently has kept this process moving more quickly than might otherwise be expected.  The hope is to have all of the agencies signed off on their permits by mid to late summer of this year.  The work on preparing the quarry for use will then begin in September.

The quarry is located off Road 222 within a mile of the dam.  The site is about 8 acres, and 30 acres will be cleared for roadway purposes and for storage of material.  Timber removal is the first step.   Approximately 2300 trees greater than 10″ in diameter will need to be taken down to obtain the rock below.  After the project is completed new trees will be planted to replace those lost to the project.   Approximately 253,000 cubic yards of material will be removed, transported to the work site, and placed on either side and on top of the existing dam for reinforcement.

Road 222 will stay open during the project, but will be subject to traffic control while material is hauled to the dam.

It is anticipated that the retrofit project will take 19 months to complete.  Water levels are projected to be at the same level as 2009 for the summers of 2010 and 2011, with slightly lower than normal levels in the winter period of 2010-2011.  Work will proceed as quickly as possible Monday through Friday, five days per week at this point.  Blasting at the quarry will be performed one day per week only, with plenty of notice to occupants of homes nearby.  The completion date is scheduled for February 2012.

Please feel free to keep checking our site for further updates as they become available.

Courtesy of the California Association of Realtors  3/10/10

Here are the highlights of the most recent California Housing Market report.

This report summarizes statewide information

Outlook and Forecast

With buyers returning to the market to take advantage of the discount home prices, government tax credits, and interest rates, the existing home market in California experienced strong sales throughout 2009. As expected, distressed properties generated more interest from buyers because of their deeply discounted prices, but many home sellers of non-distressed properties responded promptly and cut their price accordingly to stay competitive in the market.  Sales of all homes increased, inventory fell to below-normal levels, and home prices adjusted upward in response to tight inventory levels.

The State of the California Housing Market report takes a comprehensive look at these recent developments in the California real estate market and provides an outlook for 2010. In particular, the report examines the impact of the federal first-time buyer tax credit on home buyers, analyzes the sales trends of distressed and non-distressed properties, and takes a closer look at the surge in the share of FHA-insured loans.

Key Findings

• The share of first-time buyers surged from 35.9 percent in 2008 to 47.0 percent in 2009, and increased for the third consecutive year. The proportion of first-time buyers exceeded the long-run average of 38.6 percent, and the share was the highest since 1995 when more than half of all buyers were first-timers.
• The federal tax credit was a big factor in many first-time buyers’ decision to purchase a home, as 69 percent of those surveyed said that the federal tax credit was either “very important” or “most important” in their home buying decision.
• Many first-time buyers were interested in distressed properties with deeply discounted price tags. In fact, over half of all first-time buyers (51.3 percent) either bought an REO/foreclosed property or a short sale in 2009.
• Low home prices not only encouraged first-time buyers to purchase their entry-level home, but also lured investors who wanted to add a piece of real estate to their portfolio. Home buyers who purchased their properties primarily for investment purposes and tax considerations increased from 14.0 percent in 2008 to 16.8 percent in 2009.
• Prices of distressed properties fell more sharply in 2009 than did prices of non-distressed properties. The median price of distressed properties declined 24.2 percent from $330,000 in 2008 to $250,000 in 2009, while the median price of non-distressed properties dropped 10.4 percent from $541,000 in 2008 to $485,000 in 2009.
• Sellers who planned on purchasing another home, or had already bought another home, declined from 43.1 percent in 2008 to 39.4 percent in 2009. The share of home sellers who expressed an intention to repurchase peaked at 74 percent in 2004 and has declined in each of the subsequent five years.
• The rapid growth in FHA-insured loans continued in 2009, with its share of total first mortgages soaring from 18.9 percent in 2008 to 32 percent in 2009. VA loans, meanwhile, adjusted slightly upward from 2.7 percent in 2008 to 4.7 percent in 2009.
• One-third (32.9 percent) of all sellers sold their home with a loss in 2009, a jump from the 22.2 percent recorded in 2008. It was the highest on record since C.A.R started tracking net cash losses, and was more than triple the long-run average of 9.3 percent.

Also, a loan up to $425,000 meets FHA guidelines for  Madera County.

-Beth Carver

Conventional loan programs are available for purchases here in Coarsegold, and interest rates remain low. Depending upon individual needs there are fixed rate loans, adjustable rates, and FHA and VA programs available.

I highly recommend utilizing the services of a reputable local lender and escrow/title company who are familiar with our Eastern Madera County area, for several reasons. First, a home purchase is one of the largest investments a person will make in their lifetime. It is important that everyone involved in the transaction knows all of the specifics about the property, where it is located, and any special information, such as if it is has a well or is on a septic system.  Local lenders and escrow companies are aware of a variety of local issues that may come up which need to be addressed prior to closing.

Second, it is far more likely that a local lender will be able to use an appraiser who knows and has access to details on property values here. This information protects not only the lender but also the buyer and the seller. A third reason to utilize companies from our immediate area is far greater ease in facilitating signings, paperwork transfer, and the proper recordation of the deed transferring title.

Many homes for sale in Coarsegold are bank-owned properties.   Some of these may qualify for an FHA or USDA loan, which have their own individual requirements.   A good lender will be able to assist you in finding the right loan program for your needs.

Our Bass Lake Realty agents are happy to assist you in throughout the real estate transaction, beginning with finding a quality lender who can help make the purchase of your home a smooth and enjoyable process.

-Beth Carver, February 22, 2010

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