Prudential California Realty Newsletter

Visit our December Newsletter by clicking here. And, visit us at PCR1.com for all the latest real estate listings in the Mother Lode, Tuolumne and Calaveras counties, California.

November 2008 Market Stats Tuolumne County

Residential Sales: 33

$0-$199K : Sold 10, Avg. Price $158,600, Med. Price $164,950, Avg. DOM 200

$200-$299K : Sold 12, Avg. Price $230,475, Med. Price $222,900, Avg. DOM

$300-$399K: Sold 6, Avg. Price $329,191, Med. Price $328,074, Avg. DOM 299

$400-$499K: Sold 3, Avg. Price $400,000, Med. Price $403,333, Avg. DOM 140

$500-$599K: Sold 1, Price $545,000, Days on Market 153

$600-$899K: Sold 0

One house sold for $995,000 after 398 DOM. Original asking price was $1,325,000

Land Sales: 1 for $15,000 after 194 DOM

Mobile Home Sales:

2 sold: $75,000 after 339 DOM

$69,900 after 31 DOM

Pending Sales as of 12/3/08: 61

Current Active Listings as of 12/3/08: Residential 486, Average DOM 178

Information courtesy of Linda Olson, Sales Associate, Prudential California Realty, Sonora, CA. Contact: linda@pcr1.com or 209.533.3333.

Saddle Creek Golf Course Honored

Saddle Creek Resort in Copperopolis has been named to Golfweek magazine's list of "America's Best Residential Golf Courses" for 2009, marking the fifth-straight year the Carter Morrish-designed course has appeared in the rankings.

According to a press release, residential ratings are derived directly from Golfweek's annual list of "America's Best Golf Courses" are ranked by more than 350 raters throughout the country, who judge on the basis of 10 evaluation criteria. Rankings are calculated using a stitistical process.

In selecting Saddle Creek, Golfweek once again cited the course's relationship to the overall community plan, the variety, conditioning and playability of the layout, and "how pleasing and interesting the course is as an experience."

The course has been honored numerous times in the past two years by publications such as Fairways and Greens, Golf Digest, GOLF Magazine, and T&L Golf.

Congratulations, Saddle Creek!

October '08 Tuolumne County Market Stats

October Real Estate Market Statistics, Tulumne County



Residential sold 39 homes

Up to $199k 6
$200-299 20 Median price $251,000 DOM 120
$300-399 7 $355,000 DOM 232
$400-499 4 $423,800 DOM 220
$500-599 1 $525,000 DOM 130
$600-699 1 $686,000 DOM 186
No homes sold above $686,000

Mobiles sold 9 Median Price $61,000 DOM 166

Land sold 6 Median Price $75,000 DOM 149

Active Listings as of 11/5/08

Residential 520 homes with Median price of $348,000 avg DOM 169
Mobiles 91 “ “ 69,900 168
Land 285 167,900 254

October '08 Tuolumne County Real Estate Market Statistics from Tuolumne County Association of Realtros MLS. Information submitted by Linda Olson, Sales Associate. For more information, contact Linda at 209.533.3333, ext. 122.

Congratulations, Cyberhomes!

Congratulations goes out to Cyberhomes.com, for being honored by PC Magazine. As one of our family of partners between Prudential Real Estate and Cyberhomes.com, we applaud your achievement! Read on...

Fidelity National Financial’s Cyberhomes.com Honored by PC Magazine

RISMEDIA, Nov. 4, 2008-Cyberhomes.com, a leading online real estate information site for consumers from Fidelity National Financial, a Fortune 500 provider of products, services and technology solutions to the financial and real estate industries, has been named one of the “Top Web sites of 2008″ by PC Magazine. The current issue of the technology magazine recognizes Cyberhomes in the real estate/money category, tapping the site as the only real estate-related portal in the category.

“We are encouraged by this tremendous validation from the technology media,” said Marty Frame, Cyberhomes general manager. “We believe we have created a powerful Internet tool that is now the logical first stop for any home buyer, seller, enthusiast or real estate professional. We look forward to even more exciting news in 2009.”

According to the company, Cyberhomes showcases more than 2.5 million homes for sale licensed by its broker, MLS and franchisor content partners, while also providing consumers with home evaluations and full neighborhood analysis. Boasting more than100 million property, ownership, sales and mortgage records, Cyberhomes also features more than half-a-million virtual tours, and 700,000 foreclosure and pre-foreclosure listings.

For its Top 100 lists, the magazine sent out an open call for nominations and then ranked each website entry on a 10-point scale, averaging the votes for a final score. The top “undiscovered” websites were judged on their content, update frequency, design, innovation and usefulness or entertainment value. Similar sites in each category were compared, but the judges also looked for a broad range of topics and categories.

As Associate Editor Kyle Monson wrote in the article’s pre-publication posting on pcmag.com, “Cyberhomes has all the usual real-estate-site features but adds a ton of nifty functionality to help you find not just the right home, but the right neighborhood, too. Get info and ratings for local schools, mine demographic data to find a neighborhood with (or without) children, or even search for a neighborhood by affluence. You can also track individual home prices and average price trends in the area.”

Cyberhomes first caught the technology magazine’s attention shortly after its 2007 launch. In a December 2007 article, Cyberhomes was included in a “Best of the Internet,” article by Jennifer L. DeLeo. The next designation came in the May 2008 issue, when Cyberhomes was one of eight “Best Real Estate Sites,” offering “all the tools you need to buy or sell a home, like interactive maps, community stats, and powerful search tools.”

The recognition by PC Magazine’s writers and editors echoes the reaction from the public and real estate industry, says the company. In its first year, broad acceptance by consumers looking for real estate information and professionals looking for a better way to engage home buyers resulted in much faster growth than anticipated. As a result, a completely redesigned and enhanced Cyberhomes.com was launched in mid-2008. It now accommodates far more content and functionality, with beautiful graphic continuity and the integration of several new technologies that speed navigation and prepare it to future expansion.

Home Staging

How to Stage a Home For a Quick Sale and High Sales Price

RISMEDIA, Nov. 1, 2008-Staging is all the rage across America right now. Whether you are selling a home or simply re-decorating, staging has simple principles that most people fail to grasp.

Most people cannot stage their own home. Their sentimental attraction to too many pieces will not allow them to minimize the space. A cute picture of their family together combined with a vase that they got at their wedding, though priceless to them, simply clutters the appearance of the room.

Staging is about clearing a room to show floor space. This means that the furniture needs to be off the wall. When was the last time that you visited a home and found that the couches were off the wall and pictures were on the wall? This is a huge part of staging.

True, staging does not care about groupings of like items. Staging incorporates sizes; the high, medium and low aspect of decorating and uses three or five items in each grouping. Staging does not add a convenience table next to a chair; it minimizes the amount of furniture in a room, not adds. It is more important that the spacing be correct more than thinking of the living function of the room like having a table to put a drinking glass or magazine on. Staging decorates every table for its function as if you are having a party now. Outdoor tables are set for dinner, game tables have games in action and tea sets are ready to go. Fresh flowers are preferred instead of fake flowers, white towels are used instead of colored by preference, beds have way too many pillows and music is soft or jazzy instead of rock music. Also keep the TVs off.

Many times a professional stager will be able to use your furnishings. There is a misnomer that says that stagers bring things to your home and it costs a fortune. This is simply not true.
Staging has played a huge role in getting homes sold quickly and for more money. The goal of staging is to make your home appeal to the broadest range of buyers by eliminating any offensive items or groupings of decorations that would detract a buyer’s attention. You want the buyer instead to be focused on the house and its elements that have attracted them to it.
Staging is a must for serious sellers. Don’t be fooled that you can do it yourself. Hire a professional.

For more information, and help with staging and selling your home, contact us at 209.352.8289, Prudential California Realty

Tuolumne County Market Stats

As Reported by the Tuolumne County Association of Realtors:



2008, 3rd Quarter

Homes Sold 111

Median Price $305,000

Total $ Sold $36,137,460



2007 3rd Quarter

Homes Sold 135

Median Price $340,000

Total $ Sold $49,902,204



2008 YTD

Homes Sold 314 (54 REO, 13 Short Sale)

Median Price $299,000

(REO $239,070, Short Sale $255,000, Privately Owned $317,000)

Total $ Sold $101,918,612



2007 YTD

Homes Sold 398

Median Price $333,500

Total $ Sold $147,711,054

Largest Monthly Home Sales % Increase in 5 Years

Good News for Real Estate? Largest Monthly Home Sale Percentage Increase in 5 Years Reported

RISMEDIA, Oct. 27, 2008-Due to falling real estate prices and rising foreclosures on the West Coast, sales of existing homes rose to its highest level in 13 months and highest percentage increase in five years, according to a report issued today by the National Association of Realtors (NAR). The increase resulted from buyers responding to improved housing affordability conditions, the organization stated.

Existing-home sales-including single-family, townhomes, condominiums and co-ops-rose 5.5% to a seasonally adjusted annual rate of 5.18 million units in September from a level of 4.91 million in August, and are 1.4% higher than the 5.11 million-unit pace in September 2007.

Lawrence Yun, NAR chief economist, said more markets are seeing year-over-year gains. “The sales turnaround which began in California several months ago is broadening now to Colorado, Kansas, Minnesota, Missouri and Rhode Island,” he said. “The South was hampered by much lower home sales in Houston in the aftermath of Hurricane Ike.”

NAR President Richard F. Gaylord, a broker with RE/MAX Real Estate Specialists in Long Beach, Calif., said low home prices and low interest rates have been attracting buyers. “This is the first time since November 2005 that home sales have been above year-ago levels,” he said. “Credit tightened at the end of September, but the improvement demonstrates that buyers who’ve been on the sidelines want to get into the market to make a long-term investment in their future.”

According to Freddie Mac, the national average commitment rate for a 30-year, conventional, fixed-rate mortgage fell to 6.04% in September from 6.48% in August; the rate was 6.38% in September 2007.

Yun said there may be market disruptions. “The credit markets are not settled yet, although the mortgage market stabilized with the government takeover of Fannie Mae and Freddie Mac. Inventory remains high, and price declines are pressuring owners,” he said. “Additional housing stimulus would stabilize prices more quickly, which in turn would bring faster stability to Wall Street. Removing the repayment feature on the first-time buyer tax credit and permanently raising loan limits would bring more buyers into the market and further reduce inventory.”
Total housing inventory at the end of September fell 1.6% to 4.27 million existing homes available for sale, which represents a 9.9-month supply² at the current sales pace, down from a 10.6-month supply in August. This marks two consecutive monthly declines since inventories peaked in July.

The national median existing-home price for all housing types was $191,600 in September, down 9.0% from a year ago when the median was $210,500. “Compared to a fairly small share of foreclosures or short sales a year ago, distressed sales are currently 35 to 40% of transactions. These are pulling the median price down because many are being sold at discounted prices,” Yun explained. “The current market is not being dominated by speculative investors. Rather, 80% of current buyers are purchasing a primary residence, which is a bit higher than historic norms.”
Single-family home sales increased 6.2% to a seasonally adjusted annual rate of 4.62 million in September from a pace of 4.35 million in August, and are 3.8% above the 4.45 million-unit level a year ago. The median existing single-family home price was $190,600 in September, which is 8.6% below September 2007.

Existing condominium and co-op sales were unchanged at a seasonally adjusted annual rate of 560,000 units in September, but are 15.7% below the 664,000-unit pace in September 2007. The median existing condo price4 was $199,400 in September, down 10.2% from a year ago.
Regionally, existing-home sales in the West jumped 16.8% to an annual rate of 1.25 million in September, and are 34.4% higher than September 2007. The median price in the West was $253,600, down 18.5% from a year ago.

In the Midwest, existing-home sales increased 4.4% to an annual pace of 1.19 million in September, but are 2.5% below a year ago. The median price in the Midwest was $152,500, which is 7.9% lower than September 2007.

Existing-home sales in the South rose 2.2% in September to a pace of 1.90 million but remain 7.8% below September 2007. The median price in the South was $167,200, down 4.1% from a year ago.

In the Northeast, existing-home sales slipped 1.2% to an annual pace of 840,000 in September, and are 7.7% lower than a year ago. The median price in the Northeast was $246,800, down 5.4% from September 2007.

Locally, we are still seeing a slight decrease in numbers of listings, slight increase in days on market, but multiple offers are coming in, especially on the lower priced homes. This is a great opportunity for first time homebuyers and investors, to get in on the market before prices shift upward again.

Twain Harte, CA Market Report

Twain Harte is situated at 3,400 feet in elevation, with thick pine forests and spectacular displays of dogwoods in late spring. Visitors flock to this mountain community year-round for a wide range of outdoor activities including: hiking, mountain biking, kayaking, camping, fishing, swimming, rafting, golfing, showshoeing, cross country and downhill skiing. Twain Harte is the gateway to the Dodge Ridge ski area. This quaint Sierra town is home to a variety of local shops, art galleries, antique stores and restaurants. There are many vacation homes and rental cabins available for families and groups to enjoy that special time together, as well as lodges and bed and breakfasts.

The Twain Harte market has shifted into more of a "Buyer's" market, prices have dropped, but are leveling off. There are currently 148 listings on the market in the Twain Harte area, with average sales price of $364,310, median sales price of $329,000, and days on market 169. Prices continue to drop slightly, and the interest rates are excellent now.

Sonora, CA Market Report

Sonora, the County Seat of Tuolumne County, is located just 3 miles from Jamestown on Highway 49. At an elevation of 1,825 feet, Sonora is a colorful, bustling little city and is the market center for a large area. An air of progressive commercialism has been superimposed on this one-time rowdy mining camp.Many relics from its flamboyant past remain,including a large collection of Victorian homes, many of which are now bed and breakfasts. Sonora is also the junction of Highways 49 and 108. The city hosts the Mother Lode Roundup every Mother's Day weekend with one of the largest and oldest parades in California. The St. James Episcopal Church (painted a dark red) was built in 1860 and is said to be the second oldest Episcopal church of frame construction in California. Many of the businesses are housed in buildings over 100 years old.

The Real Estate Market in Sonora and the surrounding area has slowed down in the past year or so, with prices declining, and days on market increasing. We are definitely in a "Buyer's" market. There are currently 287 Residential listings, with an average price of $417,087, median price of $364,900, and average days on market 172. Our inventory has dropped lately, and pricing continues to decline slightly.

Jamestown, CA Market Report

Located in Tuolumne County , Jamestown is a small Gold Rush town situated in the Sierra Nevada foothills of North California at an elevation of 1,477 feet, with an estimated population of 2,178.Main Street shops are full of visitors from around the world shopping for antiques, original art, gifts and souvenirs. In an area surrounded by award-winning wineries, you can enjoy an outdoor paridise - from skiing to hiking, boating and fishing or take a train ride on an historic and famous train. Because we are in the heart of California's historic Gold country, you can even pan for gold!

The Real Estate Market in Jamestown and the surrounding area has been thriving the past few years, setting record-level prices.Prices have dropped in the past year, and we are in a "Buyer's" market. There are currently 61 Residential listings, with an average sales price of $411,963, median sales price of $299,900, and 154 average days on market. Prices continue to drop slightly, and interest rates are very favorable.

Arnold, CA Market Report

Arnold, CA is situated at 4,000 feet in elevation, with thick pine forests and spectacular displays of dogwoods in late spring. Visitors flock to this mountain community year-round for a wide range of outdoor activities including: hiking, mountain biking, kayaking, camping, fishing, swimming, rafting, golfing, showshoeing, cross country and downhill skiing. Arnold is the gateway to the Calaveras Big Trees State Park, the magnificient Stanislaus National Forest and the Ebbetts Pass National Scenic Byway. This quaint Sierra town is home to a variety of local shops, art galleries, antique stores and restaurants. There are many vacation homes and rental cabins available for families and groups to enjoy that special time together, as well as lodges and bed and breakfasts.

The Arnold Real Estate market is thriving. Prices have dropped in the past year, but are beginning to level off now, and we are in a "Buyer's" market. There are currently 211 Residential listings, median price $369,500, and the average Days on Market is 114. The number of active listings has reduced slightly lately, as well as the Days on Market, and the interest rates continue to be very favorable.

Angels Camp, CA Market Report

Angels Camp, CA is located in the beautiful Sierra Foothills, elevation 1800 feet, home of the Mark Twain story "The Celebrated Jumping Frog of Calaveras County". Angels Camp, also known as the real "City of Angels", is the only incorporated city in Calaveras County and is home to numerous attractions including a championship golf course, New Melones Lake, historic monuments, the Angels Camp Museum and Carriage House, and a charming downtown Main Street filled with distinctive shops.

The Angels Camp market is in a "Buyer's" market, with currently 127 Residential listings, and a median price of $397,000. Average Days on Market is currently 127, and is improving. Home prices have dropped in the past year, but are levelling off. The number of active listings has also reduced lately, and interest rates continue to be very favorable.

Tuolumne County Market Stats

Tuolumne County Market Stats September, 2008:

Residential homes Sold 29
Average price $375,431
Average days on market 182

Sold per price range

Up to $199,000 2
200-299k 7
300-399k 10
400-499k 7
500-599 2
600-999k 0
one home sold $1,075,000

NO land sales for September

Mobile homes sold 7
Average price 92,485
Average days on market 158

Report submitted by Linda Olson, Realtor, Prudential California Realty. linda@pcr1.com 209.743.8414

Hope for Homeowner's Program

Bush Admin Launches ‘Hope for Homeowners’ Program to Help Struggling Families

RISMEDIA, Oct. 3, 2008-This week, the Bush Administration unveiled additional mortgage assistance for homeowners at risk of foreclosure. The HOPE for Homeowners Program will refinance mortgages for borrowers who are having difficulty making their payments, but can afford a new loan insured by HUD’s Federal Housing Administration (FHA).

“For families struggling to keep up with their mortgage payments, this program will be another resource to refinance into a loan they can afford,” said HUD Secretary Steve Preston. “FHA remains a safe and affordable alternative to the high-priced mortgage loans that threaten homeowners’ ability to retain their homes. We strongly encourage borrowers to work with their lenders to determine if HOPE for Homeowners is the right program for them.”

The HOPE for Homeowners program was authorized by the Economic and Housing Recovery Act of 2008. Since the President signed this vital legislation into law on July 30, 2008, the HOPE for Homeowners Board of Directors has worked diligently to develop and implement the program as directed by Congress. The Board was charged with establishing underwriting standards to ensure borrowers, after any write-down in principal, have a reasonable ability to repay their new FHA-insured mortgage.

The HOPE for Homeowners program ends September 30, 2011. The program is available only to owner occupants and will offer 30-year fixed rate mortgages - so the borrower’s last payment will be the same as the first payment. In many cases, to avoid what would be an even costlier foreclosure, banks will have to write down the existing mortgage to 90% of the new appraised value of the home.

Borrower Eligibility
Borrowers are encouraged to contact their lender to determine eligibility, but may be eligible if, among other factors:

- The home is their primary residence, and they have no ownership interest in any other residential property, such as second homes.- Their existing mortgage was originated on or before January 1, 2008, and they have made at least six payments.- They are not able to pay their existing mortgage without help.- As of March 2008, their total monthly mortgage payments due were more than 31% of their gross monthly income.- They certify they have not been convicted of fraud in the past 10 years, intentionally defaulted on debts, and did not knowingly or willingly provide material false information to obtain their existing mortgage(s).

How the HOPE for Homeowners program works:
“HOPE for Homeowners will add to HUD’s existing efforts to make FHA refinancing available to homeowners who need it most,” said FHA Commissioner Brian D. Montgomery. “One year ago, FHA expanded refinancing into its FHASecure program. Since that time, we have helped more than 360,000 families keep their homes by refinancing with FHA, and we will assist a total of 500,000 families by the end of this year.”

The board expects that the primary way homeowners will participate in the program is by working with their current lender. HOPE for Homeowners will serve as another loss mitigation tool available to distressed borrowers.

HOPE for Homeowners also includes the following provisions:
- The loan amount may not exceed a maximum of $550,440.- The new mortgage will be no more than 90% of the new appraised value including any financed Upfront Mortgage Insurance Premium.- The Upfront Mortgage Insurance Premium is 3% and the Annual Mortgage Insurance Premium is 1.5%.- The holders of existing mortgage liens must waive all prepayment penalties and late payment fees.- The existing first mortgage must accept the proceeds of the HOPE for Homeowners loan as full settlement of all outstanding indebtedness.- Existing subordinate lenders must release their outstanding mortgage liens.

Standard FHA policy regarding closing costs applies, and they may be:
- Financed into the new loan provided the value of the mortgage (including the Upfront Mortgage Insurance Premium) does not exceed 90% of the new appraised value of the home.- Paid from the borrowers’ own assets.- Paid by the servicing lender or third party (e.g., federal, state, or local program).- Paid by the originating lender through premium pricing.- The borrower must agree to share with FHA both the equity created at the beginning of this new mortgage and any future appreciation in the value of the home.- The borrower cannot take out a second mortgage for the first five years of the loan, except under certain circumstances for emergency repairs.

The lender will disclose to the homeowner the benefits of the program including home retention, a new affordable mortgage based on the current appraised value, and 10% equity. The lender will also explain the prohibition against new junior liens against the property unless directly related to property maintenance, and a minimum of 50% equity and appreciation sharing with the Federal government.

The costs to the homeowner include the upfront and annual insurance premiums, as well as a share of the equity created by the write-down associated with the HOPE for Homeowners mortgage and any future appreciation in the value of the home. At settlement, subordinate lien holders will receive a certificate that evidences their interest as an obligation backed by HUD, with payment conditional on the value of HUD’s appreciation share.

If the home is sold or refinanced, the homeowner will share the equity with FHA on a sliding scale ranging from a 100% FHA share after the first year to a minimum of 50% after five years. The lien holder that previously held the highest priority will receive payment up to a proportion of its original interest, not to exceed the amount of available appreciation. This type of delayed payoff will take place until all prior lien holders are satisfied or the amount of available appreciation is exhausted. All remaining appreciation is remitted to FHA.

The HOPE for Homeowners Board of Directors includes HUD Secretary Steve Preston, Treasury Secretary Henry Paulson, Federal Reserve Board Chairman Ben Bernanke, and FDIC Chairman Sheila Bair. They have named the following people to serve on the board as their designees: FHA Commissioner and Chairman of the Board Brian Montgomery, Federal Reserve Board Governor Elizabeth Duke, Treasury Assistant Secretary for Economic Policy Phillip Swagel, and Federal Deposit Insurance Corporation Director Tom Curry.

The Bailout: An Owner's Manual

This dialogue on the U.S. Financial Bailout is perhaps the best explanation thus far.

The Bailout: An Owner's Manual
by Brian Wingfield and Liz MoyerThursday, October 2, 2008, provided by FORBES

Washington, D.C. -
The "bailout bill" is back in play. The Senate's passage Wednesday night of a modified version of it puts pressure on the House of Representatives to approve it.
Whether that happens is another story. A vote is most likely Friday, but many House Democrats don't like the new version of the bill because it contains some expensive add-ons, including a provision that keeps the alternative minimum tax (AMT) from encroaching upon the middle class in 2008, clean energy tax incentives, disaster relief and the extension of expiring tax cuts for businesses and individuals. It also expands government insurance on bank deposits from $100,000 to $250,000 through 2009.
Lawmakers still have many questions about the bill under consideration. So do we.

A guide: How does it work?
The bailout plan gives the Treasury extremely broad authority to buy up to $700 billion in troubled assets, like mortgage-backed securities, from firms that are having difficulty selling them. Uncle Sam can also insure these assets instead of buying them.
The idea is to get these securities off firms' books--or at least give them a government guarantee--so that these businesses can more easily lend and borrow again. Only assets that were originated on or before March 14, 2008, are eligible. The Treasury has through 2009 to use the funds.
Once the bill becomes law, the Treasury will hire a team of consultants and managers to help the government figure out what to buy. This group will also assist the Treasury in determining how to price the assets, which are now tough to value. The most likely scenario is an auction. The Treasury could sell the securities for a profit at a later date. If there is a net loss, in 2013, the president will have to come up with a report to recoup the shortfall--however, only an act of Congress can put that plan in place.

What about oversight?
The Treasury secretary would periodically submit to Congress a detailed report of the bailout's progress, including all financial transactions and the "types of parties involved." In addition, every quarter, a special inspector general would provide Congress with a report including all purchases made and income received from the bailout.

How much will it cost?
The initial addition to the federal debt would be $700 billion, although the Congressional Budget Office believes the net budget loss will be "substantially smaller" because the government can recoup some of its losses and perhaps sell the securities for a profit later. There are also administrative costs, which the CBO currently estimates at perhaps "a few billion dollars per year."
However, the newly added tax provisions of the bill alone will cost the government an additional $110.4 billion by 2018, according to a just-released study by Congress' Joint Committee on Taxation. Only $3.4 billion of that is related to the "bailout" portion of the bill. The AMT fix and the extension of certain tax incentives will cost $107 billion over the next 10 years. The energy provisions are completely paid for.

Is it big enough?
Probably. The administration asked Congress for $700 billion, thinking that was a large enough number to restore confidence to the markets, clean up the balance sheets of troubled companies and prevent it from asking for more. One thing that might help: Under the current version of the bill, banks issue the Treasury stock warrants, giving taxpayers a chance at making money once the crisis subsides.
That isn't going to be the only remedy, though. Already the Federal Deposit Insurance Corp. (FDIC) has stepped up its oversight of troubled banks, and the agency is taking a more aggressive view to recapitalizing banks or forcing mergers of strong banks with weak banks before they fail.
The Federal Reserve is also playing its part. It is pumping hundreds of billions into the banking system--nearly $1 trillion in actions announced this week--to help alleviate the pressure on balance sheets as banks reduce their leverage. The Fed will continue to flood the system with money through the next few months, with the year-end balance sheet preparation looming.

What happens to the companies who participate?
They will have to give the government the ability to acquire shares and executives at the companies will be subject to more restrictive compensation rules. There is the possible stigma of participating, since it may make them appear to be weak. But if everybody does it. ...

So who will use it and who won't?
Joshua Siegel from StoneCapital Partners, a New York private equity firm that invests in small banks, says the regional banks stand to gain the most from the plan. That is a group that includes National City (nyse: NCC - news - people ), Fifth Third (nasdaq: FITB - news - people ), Sovereign, Colonial BancGroup (nyse: CNB - news - people )--all companies whose shares have been pounded down in the market tumult. In addition, the American Bankers Association has pressed to make sure it's available to all 7,000-plus banks, not just those with big mortgage exposure.

But will the big banks use it? "They could say 'I can make it without it,' " Siegel says, "or they could take a little" and see what happens. Citigroup (nyse: C - news - people ), which bought Wachovia (nyse: WB - news - people ), still has more than $500 billion of assets it wants to unload gradually. JPMorgan Chase (nyse: JPM - news - people ) is taking on Washington Mutual (nyse: WM - news - people ) and its $1.9 billion in assets and liabilities. Bank of America (nyse: BAC - news - people ) is dealing with absorbing Merrill Lynch (nyse: MER - news - people ) and Countrywide Financial (nyse: CFC - news - people ).
JPMorgan's CEO James Dimon supports the plan but says he's not inclined to use it. Though he may change his mind after it becomes clear just how the program is going to work.

What's the best case scenario for the bailout?
That credit markets start functioning properly again, and the government can turn a profit on the sale of the assets it buys. The former scenario will become evident in the next several months, the latter could take years.
That doesn't mean the U.S. economy will become healthy again overnight, however. Stephen Auth, chief investment officer for Federated Investors (nyse: FII - news - people ), says to expect more bad economic news for at least the next couple of quarters, including unemployment levels at 7% or higher. "This is going to throw up a breakwater and keep it from swamping the whole system," he says of the bailout.

What's the worst case?
It simply doesn't work. Credit markets remain gummed up, borrowing and lending for consumers and businesses of all sizes comes to a halt and banks continue to fail. That could lead to a prolonged recession. There's also the possibility that the expansion of insurance caps on bank deposits won't do much to help small businesses, which typically need to insure more than $250,000.
In addition, if the government can't make any money from the purchase of these assets, it saddles Americans with more debt and higher interest rates, perhaps for years to come.

Is there a Plan B?
No. Once Congress passes a bailout package, it will almost certainly not give the administration any more money to rescue the economy.
But there are other ways to help the banking system help itself. For example, Citigroup announced it would buy Wachovia's deposits, assets and holding company debt for $2 billion in a transaction assisted by the FDIC. The government is providing a backstop on all but $42 billion of Wachovia's $312 billion of risky assets.
There's no reason the FDIC can't help structure other transfers like this, with no cost to its deposit fund, protection for all general creditors and limited exposure to taxpayers. "This does not require legislation," says William Isaac, the former FDIC chairman who used a similar technique to rescue Continental Illinois from failure in the 1980s. "The FDIC already has been granted this authority. It just needs to use it."

How will we know if it is working or not?
Several indicators will be of use, according to Auth of Federated Investors. Right now, the London Interbank Overnight Rate (LIBOR)--a rate banks charge each other to borrow--is at a record high, around 5%. Once it starts to come down, that's a good indication that credit markets are starting to function properly again. Same goes for "TED spreads"--the difference between three-month contracts for Treasury bills and eurodollars.
In addition, Auth says more capital moving into the financial sector is an indication that the bailout is a success. That's already started to happen, as indicated by Warren Buffett's recent investments in General Electric (nyse: GE - news - people ) and Goldman Sachs (nyse: GS - news - people ).

Going Green?

In this final installment on "Going Green" we will discuss other methods to improve your home and the environment.

Pretty on the Inside

Using paints with low VOC's (volatile organic compounds) can reduce indoor pollutants. VOC's are typically emitted from materials such as paints, woods and carpets. These compounds vaporize at room temperature, contributing to pollution as well as causing adverse health effects. Paints labeled with Green Seal (http://www.greenseal.org/) have been tested and certified by this non-profit organization to be environmentally responsible.

Another way to lower VOC's in a home is by replacing synthetic carpets with rugs made with natural fibers. If a homeowner chooses to install hardwood floors instead of carpet, hardwood floors made with oriented-strand board (OSB) emit lower levels of formaldehyde compared with most woods. OSB is an engineered wood tht is formed by layers of wood flakes. It can be used for sheathing walls, floors, and roofs. OSB wood also uses almost all of the wood from the trees grown to produce it, thus reducing the number of trees harvested.

For the "dark-green" environmentalist, furniture made with hemp and organic materials is widely available; many companies also make furniture that meet the requirements of the Sustainable Forestry Initiative (www.sfiprogram.org/).

Green on the Outside

One of the easiest and least costly ways to conserve water in a yard is by planting native vegetation. Native plants do not need herbicides, fertilizers, or pesticides to grow, nor do they require watering. Some homeowners are returning to earlier times by installing rain-catching systems, which capture and use water that would otherwise enter storm drains. Other ways to recycle this natural resource include creating downspouts that filter roof runoff water directly onto a lawn, or buying a rain barrel to capture water that can be used to water gardens. Grey water (wastewater generated from domestic processes such as bathing, dish washing, and laundry) can be captured with a collection system and used for irrigation.

New concrete is another consideration. Fly ash-based concrete has a longer lifespan than most concretes because it does not contain water. Fly ash is a by-product of coal-fired power plants that, typically, would end up in a landfill. Substituting it in concrete actually creates a stronger product. Fly ash is composed mostly of alumina, iron, and silica, whereas most concretes are made of gravel, sand, and water.

from "California Real Estate", published by the California Association of Realtors, written by Michelle D. Alderson

Going Green?

In this second installment on "Going Green" we will discuss what element different organizations look at when rating a home's green status.

Waste Not

Probably the most recognizable label to consumers is ENERGY STAR, which denotes products that have been approved by the Environmental Protection Agency (EPA) and the Department of Energy. These products meet strict energy-efficient guidelines, resulting in less energy use versus conventional products. ENERGY STAR labels can be found on CFL light bulbs, as well as dishwashers, refrigerators, washers and dryers, and stoves.

Installing solar paneling is another way to conserve energy. Solar panels use natural sunlight to create the energy needed to heat or cool a home.

Conversely, energy-efficient windows block the sun's powerful rays. Energy-efficient windows are made with a special coating to block the sunlight, improved frame materials that keep out the heat, and multiple pane layers to help insulate. Working together, these elements create a shield against the outside environment while protecting a home's indoor climate.

The EPA sponsors a program called WaterSense. A product with the WaterSense Label has been tested and approved by the EPA to conserve water. Installing low-flow toilets, shower heads, faucets, and sprinklers reduces water usage by 20%.

Other ways to conserve energy include installing motion sensor outlets; installing a programmable ENERGY STAR thermostat; insulating doors to prevent heat loss, especially those that connect to garages; insulating water heaters; and cleaning out dirty filters in cooling and heating systems.

In our next installment we will discuss other methods of "Going Green".

from "California Real Estate", published by the California Association of Realtors, written by Michelle D. Alderson

Going Green?

Going Green?

Recently the California Association of Realtors presented an interesting article on Going Green. Here is the first of our installments:

"Greening" a Home is part of a fast-growing pro-environment market. National surveys indicate that 80% of consumers consider themselves "green-minded". Homeowners are discovering that this popular movement both benefits the planet and cuts down on monthly costs. In fact, in 2006, 99.7% of screw-in compact fluorescent light bulb (CFL) products sold by General Electric were Energy Star-qualified. Over their lifetime, they will reduce consumer's electricity costs by $1.3 billion and prevent the release of one trillion pounds of greenhouse gas emissions by power plants in 100 countries.

Putting in a new light bulb is just one way to help the planet. So, what exactly makes a home green? Several organizations help consumers answer this very question. Build It Green (http://www.builditgreen.org/) is a non-profit, independent organization that has created a rating system that evaluates homes for their environment-friendly enhances. Receiving a GreenPoint Rating means that a home was verified for meeting green building measures.

The U.S. Green Building Council (http://www.usgbc.org/) has created Leadership in Energy and Environmental Design (LEED), a third-party certification program and benchmark for the design, construction, and operation of high-performance residential and commercial green buildings. The recently launched REGREEN program (www.regreenprogram.org/), a partnership of the American Society of Interior Designers' Foundation and the USGBC, provides green residential remodeling guidelines.

When these organizations look at homes, they are evaluating how a remodel has positively affected the environment and, essentially, the homeowners. In our next installment, we will discuss what elements these organizations look at when rating a home's green status.

from "California Real Estate", published by the California Association of Realtors, written by Michelle D. Alderson

Recent Sales Activity, Tuolumne County

July, 2008
Residential
Sold: 32
Median Price: $287,000
Average Days on Market: 146



August, 2008
Residential
Sold: 50
Median Price: $282,500
Average Sales Price: $305,868
Average Days on Market: 166

Land
Sold: 2
Average Sales Price: $107,500
Average Days on Market: 91

Mobile Homes
Sold: 8
Average Sales Price: $33,675
Average Days on Market: 92

Active Homes on Market: 616
Average Days on Market: 157
Average Listing Price: $413,571
Median Listing Price: $349,000

Year to Date Residential Homes Sold: 284
Average Days on Market: 152
Average Listing Price: $319,415
Median Listing Price: $286,000

Prices still continue to adjust slightly, and days on market continues to increase, but the good news is activity is increasing. Now is the time to buy before interest rates increase further, and as our inventory will decrease.

Information supplied by Linda Olson, Realtor, Prudential California Realty, Sonora, CA. Contact Linda at linda@pcr1.com, 209.533.3333.

Tuolumne County Association of Realtors Upcoming Events

From TCAR:

There are several Tuolumne County Association of Realtors events coming up this fall that you should mark on your calendars:

Thursday, October 2, 5:00 p.m.: 3rd Annual Local Government & Business Reception at the Sonora Opera Hall. Keynote speaker will be Sanjay Wagle, Counsel for the California Association of Realtors who will speak on The Housing and Economic Recovery Act of 2008. There is no charge to attend this event.

Friday, October 3, 8:30 a.m.~3:30 p.m.: Commercial Appraisal class, TCAR Conference Room, conducted by Mike Wright. Reservations necessary, cost is $5.00.

Friday, November 21, 5:30 p.m., Sonora Opera Hall: Annual Installation of Officers and Directors. This will be a cocktail affair. Chris Garnin will be installed as 2009 President for TCAR.

Tuesday, December 16, 8:30 a.m.: Annual MLS Breakfast, Tuolumne County Association of Realtors Conference Room. Potluck breakfast.

J.D. Power and Associates Ranks Prudential Highest Among Sellers

J.D. Power and Associates Ranks Prudential Real Estate
Highest in Satisfaction Among Home Sellers

Prudential Real Estate is ranked "Highest in Satisfaction for Home Sellers Among National Full Service Real Estate Firms," in J.D. Power and Associates’ 2008 Home Buyer/Seller Study SM.
The inaugural study measures customer satisfaction of home buyers and sellers with major national real estate companies and includes 3,670 evaluations from 3,205 respondents who bought or sold a home between April 2007 and June 2008.
Among home sellers, Prudential Real Estate achieved a score of 793 on a 1,000-point scale. "We are very proud of this distinction, as it underscores the quality of our affiliates and their hard-working sales professionals," said Laurie Keenan, president of Prudential Real Estate. "This recognition is especially rewarding because it comes from a most discerning group: our customers. To be sure, our sales professionals are the local experts, and sellers appreciate their ability to market and price homes right."

STAR Test Results Solid in Calaveras, Tuolumne Counties

The Union Democrat, Thursday, August 14
"The California Department of Education released the results of the spring STAR tests and, for the most part, Tuolumne and Calaveras county schools performed better than their state counterparts.
Each county improved in the majority of areas — but both declined in others, like geometry. The Standardized Testing and Reporting tests cover several types of math, including general mathematics, algebra I, geometry and algebra II.
Tuolumne and Calaveras county students scored better than California as a whole in English-language arts, with the exception of second- and third-graders in Calaveras County. Local schools also scored lower than California in general math in eighth-grade and algebra I in eighth and 11-grades (and 10th in Calaveras). "

Congratulations to the local students and schools! For more detailed information regarding the test results, contact us at info@pcr1.com or 209.352.8289.

TCAR Mid-Year Stats

The Tuolumne County Association of Realtors has just posted the statistics January through June 2008, 2007, 2006 for comparison

2008

Residential

Sold - 202

Avg. Price - $324,079

Median Price-$287,000

Avg. Days On Market - 149



2007

Residential

Sold - 263

Avg. Price-$371,896

Median Price-$331,000

Avg. Days on Market-144



2006

Residential

Sold - 308

Avg. Price - $382,357

Median Price - $347,000

Avg. Days on Market - 134



2008

Land

Sold - 40

Avg. Price - $166,925

Median Price - $148,500



2007

Land

Sold - 38

Avg. Price - $243,723

Median Price - $172,000



2006

Land

Sold - 72

Avg. Price - $229,396

Median Price - $140,000

It goes without saying that we are still in a Buyer's Market here in Tuolumne County, but the "bargains" may not be around forever. Keep in mind that the interest rates have been increasing slightly, and the experts will tell you that when the interest rates begin to climb, the Seller's Market won't be too far behind. So, if you've been putting off that home purchase, thinking that prices will probably go even lower, balance that with the increase in interest rates, and NOW might be just the perfect time to buy.

Best of Tuolumne County

Once again, for the 3rd year in a row, Prudential California Realty was voted Best Real Estate Company in Tuolumne County by the readers of The Union Democrat! Thank you, Tuolumne County, and all of our loyal clients for your faith in us.

At Prudential California Realty we constantly strive to be the best, and we're honored that you think so, too!

In surveys conducted of our clients, we have a 98% satisfaction rating.

Our core values include being worthy of our clients' trust, being customer focused, having respect for each other and accepting the challenge to be a winning team.

Thank you again, and we look forward to working with you all in the future!

Tuolumne County Market Conditions

The Angels Camp market is in a "Buyer's" market, with currently 175 Residential listings, and a median price of $399,900. Average Days on Market is currently 124, and is improving. Home prices have dropped in the past year, but are levelling off.



The Arnold Real Estate market is thriving. Prices have dropped in the past year, but are beginning to level off now, and we are in a "Buyer's" market. There are currently 241 Residential listings, median price $399,000, and the average Days on Market is 114, and is improving.



The Real Esate Market in Jamestown and the surrounding area has been thriving the past few years, setting record-level prices.Prices have dropped in the past year, and we are in a "Buyer's" market. There are currently 65 Residential listings, with an average sales price of $387,402, median sales price of $309,000, and 156 average days on market.



The Real Estate Market in Sonora and the surrounding area has been robust the past few years, setting record high prices. Today the market has shifted into a "Buyer's" market, prices have dropped, but are beginning to level off. There are currently 317 Residential listings, with an average price of $449,254, median price of $379,000, and average days on market 150.

Mortgage News

WASHINGTON (Associated Press) - The Federal Reserve has adopted a new plan intended to curb shady lending practices that sent home foreclosure rates to record highs.

The plan will:
●Prevent loans made without documentation of borrower's income
●Require lenders to escrow money to pay taxes and insurance for risky borrowers
●Limit - and, in some cases, ban - prepayment penalties
●Prohibit lenders from making a loan without considering a borrower's ability to repay a home loan from sources other than the home's value
●Require mortgage advertising to contain information about rates, monthly payments and other features of the loan
●Require that lenders credit a mortgage payment to a homeowner's account on the day it is received
●Forbid brokers and others from "coercing or encouraging" an appraiser to misrepresent the value of a home.

Most of the rules take effect Oct. 1. Escrow requirements will take effect April 1, 2010.More information is available on the Federal Reserve Board's website.

Hopefully these new rules and regulations will help the consumers in the future when it comes to making more educated decisions on their loans.

Twain Harte 4th of July Parade

The annual Twain Harte 4th of July Parade was attended by many, enjoyed by all!

Weekly Tuolumne County Market Statistics

Weekly Stats, Week Ending 5/18/08

RESIDENTIAL
Active: 549 Avg. DOM:146
Pending: 78 Avg. DOM: 114
Sold 5/12- 5/18: 4 Avg. DOM: 99 Avg Sales Price: $266,500
Sold YTD: 136 Avg. DOM: 153 Avg. Sales Price: $315,588

MOBILE/MANUFACTURED
Active: 82 Avg. DOM: 148
Pending: 7 Avg. DOM: 108
Sold 5/12-18: 0
Sold YTD: 21 Avg. DOM: 119 Avg. Sales Price: $60,442

LOTS/LAND
Active: 290 Avg. DOM: 226
Pending: 9 Avg. DOM: 143
Sold 5/12-18: 3 Avg. DOM: 156 Avg. Sales Price: $131,333
YTD Sold: 33 Avg. DOM: 268 Avg. Sales Price: $173,742

Information provided by Linda Olson, Realtor, Prudential California Realty. Call Linda at 209.533.3333 ext. 122.

Weekly Tuolumne County Market Statistics

Week Ending 5/11/08:

Residential
Active: 538 Avg. DOM: 148
Pending: 78 Avg. DOM: 94
Sold Last Wk: 5 Avg. DOM: 125
Sold YTD: 128 Avg. Dom: 158

Mobile Homes/Manufactured
Active: 80 Avg. DOM: 140
Pending: 5 Avg. DOM: 96
Sold Last Wk: 0
Sold YTD: 21 Avg DOM: 119

Lots/Land
Active: 285 Avg. DOM: 227
Pending: 11 Avg. DOM: 145
Sold Last Wk: 2 Avg. DOM: 279
Sold YTD: 30 Avg. DOM: 113

Thanks to Linda Olson, Realtor with Prudential California Realty, Sonora Office. Linda can be reached at 209.533.3333 ext. 122, linda@pcr1.com

Weekly Tuolumne County Market Statistics

Residential Homes:
Active: 530 Average Days On Market: 146
Pending: 71 Average Days On Market: 93
Sold last week: 9 Average Days On Market: 147
Sold YTD: 123 Average Days On Market: 160

Mobile/Manufactured Homes
Active: 72 Average Days On Market: 144
Pending: 7 Average Days On Market: 91
Sold last week: 2 Average Days On Market: 105
Sold YTD: 21 Average Days On Market: 105

Lots/Land
Active: 284 Avg. DOM:231
Pending: 13 Avg. DOM: 127
Sold last week: 0
Sold YTD: 28 Avg. DOM: 291

Information posted by Linda Olson, Sales Associate. To contact Linda, call 209.533.3333 ext. 122 or email linda@pcr1.com

THE LATEST FROM N.A.R.

The following was just released regarding existing home sales stats in February from the National Association of Realtors (N.A.R.)

"WASHINGTON, March 24, 2008 -
Sales of existing homes increased in February and remain within a fairly stable range, according to the National Association of Realtors®.
Existing-home sales – including single-family, townhomes, condominiums and co-ops – rose 2.9 percent to a seasonally adjusted annual rate (1) of 5.03 million units in February from a pace of 4.89 million in January, but remain 23.8 percent below the 6.60 million-unit level in February 2007. The sales pace has been in a fairly narrow range since last September.
Lawrence Yun, NAR chief economist, said the gain is encouraging. “We’re not expecting a notable gain in existing-home sales until the second half of this year, but the improvement is another sign that the market is stabilizing,” he said. “Buyers taking advantage of higher loan limits for both FHA and conventional mortgages will unleash some pent-up demand. As inventories are drawn down, prices in many markets should go positive later this year.”
The national median existing-home price (2) for all housing types was $195,900 in February, down 8.2 percent from a year earlier when the median was $213,500. Because the slowdown in sales from a year ago is greater in high-cost areas, there is a downward pull to the national median with relatively fewer sales in higher priced markets....Existing-home sales in the West slipped 1.1 percent to an annual rate of 920,000 in February, and are 29.2 percent below a year ago. The median price in the West was $290,400, down 13.4 percent from February 2007."

Locally, the market has picked up in Calaveras and Tuolumne counties. Although the prices are still dropping slightly, the numbers of listings has stabilized, and the Homebuyers are on the increase. Interest rates are still very good, so what are you waiting for? If you're thinking of purchasing a home in the Sierra Foothills anytime in the next year, don't hesitate--it may not get much better than it is right now!

Market Conditions

Real Estate is alive and well inTuolumne and Calaveras counties! Based on MLS statistics the pricing continues to drop slightly, the number of listings in both counties is up, and the days on market have dropped significantly since February 2008. In addition, the interest rates are still great. All this means is that there's no time like the present to be purchasing Real Estate in the Gold Country! Prices may not go much lower, we're beginning to experience multiple offers, so what are you waiting for? A year ago we could hardly find a residential listing under $300K, but now there are many, so if you're a first time homebuyer, I certainly wouldn't wait much longer!

Wintertime in Yosemite Park

If you've never experienced the beauty and serenity of Yosemite National Park in the winter, now's the perfect time! The roads in and out are always plowed, but the beauty of the snow in the high country as well as the valley floor is just breathtaking. Take advantage of this time of year--take a picnic lunch, or dine at the Awahnee Hotel, which is always delightful. The park service provides information on many winter activities, such as special snowshoeing excursions, and you can always explore on your own. You might experience some travel delays coming from Tuolumne County due to road construction in the valley, but the wait is worth it. Enjoy!

Woody Guthrie's American Song

"This Land is Your Land" ~ Woody Guthrie. Wow! If you didn't already know it, live theatre is alive and well in Tuolumne County! The play "Woody Guthrie's American Song" premiered last week at Sonora's Stage 3 Theatre, and this is one you don't want to miss! This is truly an American celebration of America as seen through the eyes of its great folksinger. The play takes us through Woody's life during the Great Depression and his travels from the south to the west and to the east. His writings and songs paint quite a picture of the times and struggles of his time, but still have many meanings for today. Songs and writings by Woody Guthrie, conceived and adapted by Peter Glazer. Woody is portrayed by Jeff Cooper (The Searcher), Hoyt Cory (The Folksinger) and Richard Scholer (The Writer). All three performances are strong and inspiring, and the other members of the cast, Lillian McLeod (Woman), and Christy Nava (Young Woman) add even more depth to an already talented group. Backup instruments are provided by Rick Barlow and Ron Cotnam. You won't want to miss this one, and you'll surely remember many of the songs, such as "Hard Travelin'", "Bound for Glory", "The Reuben James", "Nine Hundred Miles", and of course "This Land is Your Land". The play runs through March 23, and you can call the box office at 209.536.1778 for your tickets.

Strategies for Selling a Vacant Home

As the real estate market in Tuolumne and Calaveras counties continues to stabilize, sellers may find that their property remains on the market significantly longer than the days of “list today, sold tomorrow.” There is also more competition for buyers. So, it can be frustrating to put your home on the market, expecting a fast sale, only to find that after six months you’re still waiting for an offer. This is especially true if you need to move quickly and leave your unsold home vacant.
Besides creating a marketing challenge, a vacant home can also be a target for vandalism. Here are strategies you can use to hasten a sale and protect your property during the process.
· Instead of producing a spacious appearance, an empty room tends to look smaller than a furnished room. So, leave behind a few select pieces of furniture and keep the window treatments in place. A chair or lamp on a small table will confer a sense of scale and help potential buyers gauge whether their furniture will fit the space.
· If you decide to remove the furniture, have the house cleaned and painted. Furniture, rugs and decorations tend to hide or minimize imperfections. When furniture and artwork have been removed, every blemish and bruise becomes accentuated, faded paint and wallpaper become more noticeable and scratches and nicks stand out.
· Repaint brightly and boldly colored rooms to a neutral tone. What was an eye-popping room when fully-furnished may appear stark and small when empty.
· To thwart unwelcome visits, give the house a lived-in look. Set a couple of lamps on timers, and ask a neighbor or friend check on the house daily to collect mail, park a car in the driveway, and close and open drapes and windows. Continue using a gardening service or hire someone to cut the grass regularly. During the winter months, arrange to have snow shoveled from the walks and driveway.
· If available, consider employing a home manager or house sitter. At little or no cost to homeowners, the house is furnished and decorated for show-to-sell condition. Most companies require home managers to mow the lawn, shovel snow, even pay pool maintenance and utilities. Having someone living on site discourages vandalism, protects against deterioration and weather hazards and may even reduce insurance costs. (Check with your insurance carrier.)
· Leave the utilities connected. Depending on the season, make sure the thermostat in the house is set at a comfortable level. You don't want a potential buyer to run through the home because it is too hot or cold.
· Review your homeowner's insurance policy with your insurance agent to find out what the stipulations and coverage pertain to your vacant home.
· Find a real estate professional with experience selling vacant houses. Often, these sales professionals specialize in relocation. You want to make sure that you are comfortable with your lines of communication. If you will be residing in another town, come up with an agreement on how often your representative will check on the home and what should be done if a problem develops.
Although a vacant house presents certain challenges, it does not need to be difficult to sell.

2007 Awards

Prudential California Realty in Calaveras and Tuolumne counties is proud to announce that the 2007 Sales awards were presented recently. The Top Producers for each office are: Kym Flaigg, Angels Camp office; Renee Carter, Arnold office; Linda Olson, Sonora office; Don Sherburne, East Sonora office and Ken & Judy Crabtree for the Twain Harte office. In addition, Diane Olsen of the Arnold office received the Most Improved Agent award and Ed Pelfrey, of the East Sonora office received the Rookie of the Year award. We congratulate all of the winners and wish them continued success. Submitted by Stan Nelsen, Sales Manager, Tuolumne County.

Sonora Hills

Sonora Hills…LIVE WHERE OTHERS ONLY VACATION…an upscale, active adult community that combines the best of California living with one of the most beautiful settings in California, located in historic Sonora, in the heart of the Central Sierras.

Sonora Hills is a gated, planned development with approximately 235 homes for adults 55 and over. The 44 acres include beautiful tree-lined streets. Each home has a two car garage and enjoys a fenced lot. The front yard is fully landscaped and maintained for each residence. There is a beautiful Clubhouse with many activities and the perfect place for entertaining family a friends. The community also has a large pool, patio area and spa. Additionally, there is RV storage available for community residents.

The homes range from one to three bedrooms (1080 – 18884 sq. ft.). Some have vaulted ceilings, solid oak cabinets, bay windows, laundry rooms, and many more features.

Within walking distance, you’ll find the convenience of full-service shopping, as well as banking, county library, health services and public transportation.

Should you want to take a stroll through the private walking trails, enjoy the beautiful setting or view some of the available homes, please contract me, Sharon Burs’key’….your KEY to Real Estate Needs 209-532-3600, sharon@pcr1.com.

Tuolumne County Market Stats

The latest Market Stats have just come out from the Tuolumne County Association of Realtors, and contrary to what the press will tell you, Real Estate is alive and well in Tuolumne County!

Compare 2006 Residential to 2007 Residential: In 2006 there were 621 sales, median price of $349,000. In 2007 there were 509 sales (off 19%), median price of $327,500 (off 7%). What this tells us is that although there were slight price adjustments made from 2006 to 2007, it wasn't dramatic. And, although the sales were off, Tuolumne County fared much better than the Central Valley and Sacramento regions. in all actuality, 2007 was the Fifth best Real Estate ever--not bad for a "down" market.

Here at Prudential California Realty we opened more contracts in January 2008 than in all of November and December of 2007, plus reports of multiple offers are coming in.

We cannot help but notice as well the number of internet leads we're getting, up dramatically from December. Could it perhaps be a combination of good pricing as well as incredible interest rates? And, the Feds keep helping us out at every turn.

I would say, now's the time to buy--what are you waiting for?