Crescent City Real Estate News: January 2009

McCovey #1 Heavyweight Wrestler in Nation

Roger McCovey #1 heavyweight wrestler in nationRoger McCovey won the ranking of #1 heavyweight wrestler in the nation on Connect Wrestling, a national website.  McCovey was previously ranked #4.

"It's awesome," McCovey states, with the admonition that, "I still have to prove it."

McCovey is the defending California State Champion, going 41-0 last season.  So far this season, McCovey is undefeated in more than 30 matches.  McCovey hasn't been taken down by an apponent in two years of competition. 

McCovey is a senior at Del Norte High School in Crescent City, CA.

Photo courtesy of The Daily Triplicate

 

 

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Thank you for stopping by. Your comments on this post are welcomed and appreciated.
No one sold more homes in Del Norte County in 2009, 2010 and 2011--*in units sold and volume--than Fran Gatti. Put Fran to work for you!

 

 Fran Gatti

Brought to you by Fran Gatti at  REMAX
No one works harder for you! 
Bus: 707-464-5400, Cell: 707-218-8162
Email: frangatti@remax.net
Website: FranGatti.com
My Blog: Fran's Blog
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CA lic 01723796

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How My Mom Shaped me to be an Excellent REALTOR

my mom and dad

This ode to my Mom, Helen, is long overdue and having just celebrated her 80th birthday, I feel there is no time like the present.

I took this picture of my mom and dad on their 59th wedding anniversary in August '08.  My dad turned 88 in November and as I already mentioned, mom turned 80 this month. 

My mom still dresses hip and "puts on her face EVERYDAY,"  (the putting on the face everyday thing is something that didn't carry over to me).  She is an awesome example, both my parents are, of what it means to love and support your spouse through good, bad, indifferent and all the gray areas in between. 

My dad has been retired for about 25 years, my mom, since she was 69.  My mom was Wayne Rosing's personal assistant and right hand when his group developed Java at Sun Microsystems back oh so long ago.  She kept Wayne's life in order so he could focus on Java and not the "mundane" details my mom ALWAYS had under control.  Not only did she take wonderful care of Wayne, she took wonderful care of our family.  My mom had a homemade meal on our table EVERY NIGHT at 6:00 and WE ALL HAD TO BE THERE for dinner. I didn't eat at a fast food restaurant until I was a teenager, my mom would not think of it. 

My husband is a school teacher and he says that about 10% of his students eat dinner together as a family. Why? It's easier to let everyone do their own thing.  My mom taught me that just because it's easier, doesn't mean it's right.  I had a homemade meal on my dinner table every night when raising my kids, and THEY ALL HAD TO BE THERE. 

I find all the qualities that I like about myself, I got from my parents, and many of them, from my mom.  I find that all the qualities that make me an excellent REALTOR, came from watching my parents.

Just like my mom, I'm a helper and a fixer.  I allow my clients to focus on what's important to them, moving to their new home, deciding which home to purchase, and I take care of all the minutia for them, not just because it's my job, but because I enjoy it...thanks for that mom. 

These qualities served me well when I was raising the five children my husband and I so smartly decided to cramb into 7 years.  Talk about overwhelming, I had three children in 1981 and in diapers for 2 years.  Lots of people asked me how I did.  "Are you kidding," I'd tell them.  "I was raised by uber-mom." I was on a mission and nothing could stand in my way, just like my mom. 

I carried the skills I learned from my mom over into real estate and they have served me well.  For this I am thankful, grateful and proud.  My mom did a great job and is one in a million. 

Please join me in wishing my mom, Helen, a Happy 80th Birthday.  Thank you and thank you Mom. I love you!

 

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Thank you for stopping by. Your comments on this post are welcomed and appreciated.
No one sold more homes in Del Norte County in 2009, 2010 and 2011--*in units sold and volume--than Fran Gatti. Put Fran to work for you!

 

 Fran Gatti

Brought to you by Fran Gatti at  REMAX
No one works harder for you! 
Bus: 707-464-5400, Cell: 707-218-8162
Email: frangatti@remax.net
Website: FranGatti.com
My Blog: Fran's Blog
RDCPro®, CDPE®
CA lic 01723796

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4-plex, Income Property Conveniently Located - NO LONGER AVAILABLE

4-plex, Income Property conveniently located

635 Hamilton Ave, Crescent City, CA 95531 View Map

Live in one of the one bedroom/ one bathroom units and rent out the other three and get paid to live here! Combined rents and tax benefits could pay your entire mortgage (confirm with CPA). 4-plex has been well-maintained with recent remodel. This 4-plex sits on a quiet street, convenient to beach, parks, neighborhood schools and entertainment. Rental income = $2430 with full occupancy. Unit A includes 3 bedroom/1 bath with 2 car garage, units B, C and D are 1 bedroom/1 bath with car ports.

Details

Asking Price:
$325,000
MLS:
62038
Sq. Feet:
2777
Lot Size:
.15 acre
Bedrooms:
6
Bathrooms:
4
# of Floors:
2
Garage Size:
2 attached
Subdivision:
none
Year Built:
1958

Contact Info

Fran Gatti
Realtor



Main 707-464-5400
Cell 707-218-8162
Dir 707-218-8162
Email | Website


 

GOOGLE ME

Crescent City Custom Home Listings        Crescent City Luxury Home listings        Crescent City listings under $300k        Search the Crescent City MLS

Thank you for stopping by. Your comments on this post are welcomed and appreciated.
No one sold more homes in Del Norte County in 2009, 2010 and 2011--*in units sold and volume--than Fran Gatti. Put Fran to work for you!

 

 Fran Gatti

Brought to you by Fran Gatti at  REMAX
No one works harder for you! 
Bus: 707-464-5400, Cell: 707-218-8162
Email: frangatti@remax.net
Website: FranGatti.com
My Blog: Fran's Blog
RDCPro®, CDPE®
CA lic 01723796

*PER DNAOR-MLS

Mortgage Market Reports - Interest Rates climb higher !!!!! - January 21, 2009

Buyer's,

Don't wait too long.  Read this post if you're wondering why.  Thank you to Jeff Belonger, the author.

Via Jeff Belonger -- The FHA Expert.com -- FHA Loans -- FHA mortgages - USDA loans (Infinity Home Mortgage Company, Inc):

 

mortgage interest rates on the riseWARNING, this is not a negative post, it's a reality check !!!!

Fence sitters, your fence post might have broken from under you. If you were waiting for rates to drop to 4.0% or 4.5% because you read it in the paper or heard about it in the news, don't look back wishing. It's still a great time to purchase or to refinance. Just get it out of your mind, what you could have had. Don't worry, not many did, because it wasn't around for more than a week or so.

Reality....  even the best of the best can't predict what rates will be or when. Most of what you read online are written by individuals that belong to market watch services who use to have great track records. But even their predictions now are crumbling.

 

Let's take a quick look at a few key issues....

 

  • rates are still low. Sure, you can get 4.5%, but you would need to pay dearly for that. It would cost you about 4 points total for this, based on a $200,000 mortgage amount with little to no fees.
  • rates fro 5.0% to 5.5% is the reality of things. 5.0% costing you about 2.25 pts and 5.5% costing about a point. I bring this up for several reasons.
  • Keep mind, rates were in the low to mid 6's a few months ago. But there are many reasons to why are economy can't sustain low rates, even for a short time. Please read this market report : rates going lower, or not??
  • One main issue: if someone offers you 4.875% and makes it sound cheap, you probably won't end up with this rate. If you do, they will add more points and or fees at closing. This is called a bait and switch. Rates are bought in different pools of money called coupons. Example : for an extra point, you could go from 4.875% to 4.5%. The 4.875% coupon is more expensive than the 4.5% coupon. Hence the reason why the 5.0% coupon is going to be much cheaper for you than 4.875%. Going from 4.875% to 5.00% would save you just about a whole point. On a $200,000 mortgage, that is $2,000. And for what, just about $7.00 in savings per month? That would take you over 20 years to recoup that money, just for 1/8 of a percent.

Disclosure : Just because someone promised it on paper or in a good faith estimate, doesn't mean that it has to happen. There are many excuses one could use if they don't care about their reputation.

 

 

Interest rates in the near future : some speculate that they will come back down some. Okay, how much and when?  In my professional opinion, I don't see it. And even if it did, it will be around for a day or two and that's it. As I have mentioned in the past, too many unknowns all at once. My prediction?  Rates to be in the mid 6's by spring, low 7's by end of the summer, and possibly low 8's by the end of the year. Overall, we can't sustain low rates. We need to worry about inflation and delation with all of this also.

 

 

The reality.... the Gut check :  Mentally, 4.875% sounds a lot better than 5.00%, even though it's only 1/8 of a percent less. An average loan officer is not going to explain this to you, or show you examples, or break it down for you in basic numbers. They sell !!!!  You want a true mortgage professional that will not only explain the ins and outs to you, that they will educate you on the process, but shoot straight from the hip.

I know of a few very good loan officers that lost clients this week to those that promised rates in the 4's this week. And their costs were cheaper than those rates in the low 5's. People, we all get the rates from the same place, no matter how you look at it. It doesn't matter if I am a broker, a banker, a retail branch, that I get my rates from a wholesale lender, etc, etc.  Other loan officers that aren't built on educating the consumer, will use all of this mumbo jumbo mentioned to make it sound that they are the cheapest or the best. It all comes down to profit margin. But what should set apart the good from the bad or average are those that will give great service, explain everything to you, won't keep changing good faith estimates on you, and be honest. I speak about this from 16 years of experience in the mortgage industry. Just be careful out there, but not to careful or over shop. And if shopping for a mortgage, do it all in one day, because rates change daily.  Good luck !!!

 

 

The First Time Homebuyer Series :

  • First Time Homebuyer Tips : Summary - Red Flags to be aware of -- Part 5 of 5

 

 

 

- FHA Loans - USDA Loans - Conventional Loans - VA Loans - Mortgages -

Experience & Knowledge at its BEST !!!

 

 

________________________________________________________________________________________

For more information on FHA loans, please go to this link. The FHA Expert

For more information about the 2008-2009 Tax Credit for First Time Homebuyers : 2008 Tax Credit

For important mortgage insight to watch for, please read : Consumers need to be aware of these Red Flags !!!!!


Copyright © 2009 by Jeff Belonger

 

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Thank you for stopping by. Your comments on this post are welcomed and appreciated.
No one sold more homes in Del Norte County in 2009, 2010 and 2011--*in units sold and volume--than Fran Gatti. Put Fran to work for you!

 

 Fran Gatti

Brought to you by Fran Gatti at  REMAX
No one works harder for you! 
Bus: 707-464-5400, Cell: 707-218-8162
Email: frangatti@remax.net
Website: FranGatti.com
My Blog: Fran's Blog
RDCPro®, CDPE®
CA lic 01723796

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Lake Tolowa State Wildlife Area - Absolutely Breathtaking

Tolowa Dunes State ParkThe Lake Tolowa State Wildlife Area in Crescent City, CA is stunning in it's beauty. The mix of colors, the abundance of wildlife and the nonexistence of anyone else the entire time we were there, made this the perfect place for Jack's (our new puppy)first visit to the ocean.

I have lived in Del Norte County almost 20 years and although I've been to the Kellogg Beach area many, many times, I have never been to this location where Lake Tolowa breaches itself into the ocean.

 

Lake Tolowa State Wildlife AreaOver Christmas vacation, Del Norte County had some major storms and Lake Earl and Lake Tolowa filled up very fast. This caused the lake to go above the 10 foot level and when this happens, it breaches itself into the ocean.

Lake Tolowa and Lake Earl are major fly over lakes for geese, ducks and other birds. 

It is the largest wetland on the Pacific Coast outside of Alaska.

 

 

Lake Tolowa State Wildlife AreaI'm sorry to say this for those of you living back east in zero degree whether, but today it had to be at least 70 degrees with a slight breeze. 

My husband and I both ended up taking off our sweatshirts.

We did not see one other person while we were on this hike.

My husband brought a friend here on Friday.  He's been visiting Del Norte County for many years and has lived her for almost 2 and he never knew this area existed.Lake Tolowa State Wildlife Area 

I would call the Lake Tolowa area one of Del Norte County's best kept secrets and best places to take a walk. 

Lake Earl is a designated wildlife refuge. Today we saw:

  • Raptors: Falcon, Red Tail Hawk (huge)
  • Sandpiper
  • Wood ducks
  • Canvas backs
  • Sea lions
  • Great blue herrons
  • Aleutian geese
  • Biggest Ravens we have ever seen
  • Squirrels
  • and thousands of birds we couldn't identify (the Lake Earl and Tolowa area have over 300 identified species) 

Lake Tolowa State Wildlife AreaIncorporated into the State Park is the Pacific Shores subdivision, a debacle of gigantic proportions. The privately owned parcels are slowly being purchased up by California Department of Fish and Game.

Pacific Shores is a 1,535-lot subdivision located next to Lake Earl and Lake Tolowa.The Pacific Shores subdivision consists largely of sensitive dune and wetland habitat, which was subdivided in the 1960's into approximately half-acre lots and sold to individual lot owners. However, because of the sensitive habitat, natural hazards, water quality concerns, and difficulty in siting development and infrastructure such as sewage and water systems, the Coastal Commission has not certified the subdivision, and it remains undeveloped.

Lake Tolowa State ParkI am happy to see the Lake Tolowa area being protected for nature lovers to enjoy for many generations to come.  It is indeed a hidden gem of Del Norte County.

I would love to assist you in your relocation to one of the most beautiful places to live in California, maybe the world.

For information on purchasing a home in Del Norte County, please give me a call. 

Thank you for stopping by my blog. Bookmark me at www.fransblog.com.

I am here to assist you with your real estate needs!

 Fran Gatti Del Norte County Real Estate Agent Brought to you by Fran Gatti at  REMAX
THE REDWOOD COAST REAL ESTATE CONNECTION 
Bus: 707-464-5400, Cell: 707-218-8162
Email: frangatti@remax.net
Website: FranGatti.com
My Blog: Fran's Blog
Fran is the #1 buyer's agent for 2007 and 2008 per CCMLS

 

 

GOOGLE ME

Crescent City Custom Home Listings        Crescent City Luxury Home listings        Crescent City listings under $300k        Search the Crescent City MLS

Thank you for stopping by. Your comments on this post are welcomed and appreciated.
No one sold more homes in Del Norte County in 2009, 2010 and 2011--*in units sold and volume--than Fran Gatti. Put Fran to work for you!

 

 Fran Gatti

Brought to you by Fran Gatti at  REMAX
No one works harder for you! 
Bus: 707-464-5400, Cell: 707-218-8162
Email: frangatti@remax.net
Website: FranGatti.com
My Blog: Fran's Blog
RDCPro®, CDPE®
CA lic 01723796

*PER DNAOR-MLS

Now is the "Perfect Storm" For Buying Real Estate

Buying a homeWhat, now a good time to buy real estate?  We all know prices are going to go lower. 

"I'm going to wait FOR THE BOTTOM," you say.

Well, that might not be the most advantageous thing to do and here's why.

First of all, we are all aware that housing prices have declined...a lot, especially in California. 

Second, you know that interest rates have hit a 25 year low.

Third, I'm sure you are aware that it's a total buyers market and sellers are HIGHLY MOTIVATED.

We only know that the bottom has hit when prices start to trend back up.

At that point, all the other buyers who were looking for the bottom will jump into the market at the same time you do.  Ouch! That great price you could have purchased a home for now, that low interest rate and the motivated seller may all be a thing of the past. 

Timing the market or finding the bottom is a falacy because the bottom doesn't show itself until the market trends back-up.  At that point, where will seller motivation be?  Where will seller interest rates be (a 1% increase in interest rates on a 30 year mortgage can easily wipe out a 10% decrease in prices)?

If there is a perfect storm for buying, I think we are looking at it.  What say you?  Please leave your comments and thank you.

Del Norte County foreclosure listings    Del Norte County luxury home listings    Del Norte County MLS  Del Norte County custom home listings

 

I am here to assist you with your real estate needs!

 Fran Gatti Del Norte County Real Estate Agent Brought to you by Fran Gatti at  REMAX
THE REDWOOD COAST REAL ESTATE CONNECTION 
Bus: 707-464-5400, Cell: 707-218-8162
Email: frangatti@remax.net
Website: FranGatti.com
My Blog: Fran's Blog
Fran is the #1 buyer's agent for 2007 and 2008 per CCMLS

 

 

GOOGLE ME

Crescent City Custom Home Listings        Crescent City Luxury Home listings        Crescent City listings under $300k        Search the Crescent City MLS

Thank you for stopping by. Your comments on this post are welcomed and appreciated.
No one sold more homes in Del Norte County in 2009, 2010 and 2011--*in units sold and volume--than Fran Gatti. Put Fran to work for you!

 

 Fran Gatti

Brought to you by Fran Gatti at  REMAX
No one works harder for you! 
Bus: 707-464-5400, Cell: 707-218-8162
Email: frangatti@remax.net
Website: FranGatti.com
My Blog: Fran's Blog
RDCPro®, CDPE®
CA lic 01723796

*PER DNAOR-MLS

Business Opportunity - Well Established Restaurant 4-sale

Just Reduced - Well Established Restaurant 4-Sale

722 3rd Street, Crescent City, CA 95531 View Map

This turn key business is ready for you. Located in the heart of downtown Crescent City's business district, Glen's Bakery and Restaurant has been serving loyal customers breakfast, lunch and bakery goods for over 61 years. All equipment and inventory is included. The building was engineered to be able to add a second story if desired. This price includes the land, building and Glen's loyal customers. Give me a call for more information.... PLEASE CALL OR TEXT MESSAGE FRAN AT 707-218-8162 FOR ASSISTANCE WITH ANY DEL NORTE COUNTY LISTING. Thank you.

Details

Asking Price:
$375,000
MLS:
91829
Sq. Feet:
3600
Lot Size:
.14 acre
# of Floors:
1
Year Built:
1964

Contact Info

Fran Gatti
Realtor



Main 707-464-5400
Cell 707-218-8162
Dir 707-218-8162
Email | Website


 

GOOGLE ME

Crescent City Custom Home Listings        Crescent City Luxury Home listings        Crescent City listings under $300k        Search the Crescent City MLS

Thank you for stopping by. Your comments on this post are welcomed and appreciated.
No one sold more homes in Del Norte County in 2009, 2010 and 2011--*in units sold and volume--than Fran Gatti. Put Fran to work for you!

 

 Fran Gatti

Brought to you by Fran Gatti at  REMAX
No one works harder for you! 
Bus: 707-464-5400, Cell: 707-218-8162
Email: frangatti@remax.net
Website: FranGatti.com
My Blog: Fran's Blog
RDCPro®, CDPE®
CA lic 01723796

*PER DNAOR-MLS

Crescent City/Del Norte County Market Wrap Up for 2008

Del Norte County real estate market report with Fran GattiCrescent City/Del Norte County Market Report for 2008 -

Let's get started.  I'm not going to bore you with December's market report. It was about what you would expect, 11 residential listings sold, median price $144,000 and 36% of the solds were REO's (bank owned or foreclosure properties). December was the third straight month foreclosure sales have increased and I'm sure that trend will continue.

What happened in my market for the year?  Let me point out a few things before I dump my stats on you.  Our MLS posts sold sales in the year they open escrow, therefore, there are some pendings and contingency sales that could have an affect on these stats, but the median price of these open escrows  are consistent with the median price of the solds for 2008. 

2008 residential sold listings at a glance:

Price range

% of Current Active Listings

% of 2008 sales

199,000 & under

34%

56%

200,000-299,000

25%

30%

300,000-399,000

32%

8%

400,000-499,000

10%

3%

500,000-599,000

5%

2%

600,000-699,000

2%

0

700,000-up

9%

Less than 1%

Del Norte County had a 26% decrease in the number of sales in 2008 over 2007's 212 residential listings sold.  However, not too bad of news here, the median residential sold only fell 10% from 2007 and 16% from 2006, not too bad when you consider the rest of California's real estate market is in free fall status. 

Why is Del Norte County faring so much better than the rest of California?  Several reasons:

  • We did not overbuild - New home construction didn't go berserk like it did in the rest of California. Consequently, our inventory, although it did hit 315 earlier this year, has stayed fairly consistent at under 300. 

    This is still a buyer's market and as you can see by the table above, the upper end homes are still suffering at this point, but boy, if you have a home to sell under $250,000, chances are very good it will sell quickly.

  • Del Norte County is a quiet community with approximately 28,000 residents, no smog, mild weather AND NO TRAFFIC. People want to retire here and get out of the heat, smog and road rage and who can blame them?

  • Our largest employers are the government in one form or another and therefore employment is rather stable compared with the huge lay-offs suffered in other parts of California.

  • Our median priced residential listing is $265,000.  For that price you can get a spanking, brand new 3 bedroom, 2 bathroom home in a new subdivision.  For $450,000, we have homes listed on 1 acre or more, 3000+ sq. ft. in rural locations with redwood trees and close to the Smith River...what more could you want?  Oh yeah, no traffic, and we have that too!

To recap, homes under $250,000 are selling at a brisk pace, upper end home sales are still sluggish, although we hope to see that change as prices continue to decline right along with interest rates making it easier for consumer's to purchase the home of their dreams in Del Norte County...Where the Redwoods Meet the Sea.

Check out foreclosure, custom home and luxury home listings or search the Del Norte County MLS and see what I mean:

Del Norte County foreclosure listings    Del Norte County luxury home listings    Del Norte County MLS  Del Norte County custom home listings

 

I am here to assist you with your real estate needs!

 Fran Gatti Del Norte County Real Estate Agent Brought to you by Fran Gatti at  REMAX
THE REDWOOD COAST REAL ESTATE CONNECTION 
Bus: 707-464-5400, Cell: 707-218-8162
Email: fgatti@charter.net
Website: FranGattiHomes.com
My Blog: Fran's Blog
Fran is the #1 buyer's agent for 2007per CCMLS

 

GOOGLE ME

Crescent City Custom Home Listings        Crescent City Luxury Home listings        Crescent City listings under $300k        Search the Crescent City MLS

Thank you for stopping by. Your comments on this post are welcomed and appreciated.
No one sold more homes in Del Norte County in 2009, 2010 and 2011--*in units sold and volume--than Fran Gatti. Put Fran to work for you!

 

 Fran Gatti

Brought to you by Fran Gatti at  REMAX
No one works harder for you! 
Bus: 707-464-5400, Cell: 707-218-8162
Email: frangatti@remax.net
Website: FranGatti.com
My Blog: Fran's Blog
RDCPro®, CDPE®
CA lic 01723796

*PER DNAOR-MLS