Monthly Archives: July 2010

nevada county fair

Enter Your Exhibits in the Nevada County Fair

There’s Still Time to Enter

Want to enter something in the Nevada County Fair? There’s still time! The deadline for submitting paper entry forms is July 10 at 1 pm. To enter on-line using the Fair’s on-line entry system, the deadline is Friday, July 16 at 5 pm. There is no entry fee if you enter your still exhibit on-line – just log-on to the Fair’s website at www.NevadaCountyFair.com, and follow the step-by-step process.

Join the thousands of Nevada County residents who enter exhibits each year in the more than 300 available categories. If you can make it, bake it, grow it or show it, we have a category for you! Don’t delay – enter now!

Complete descriptions of all categories are available online in the Fair’s Competition Handbook. The handbook is also available at the Fair office, area libraries, chamber of commerce offices, and various sponsoring merchants.

The 2010 Fair is August 11 – 15. For more information, call (530) 273-6217 or visit www.NevadaCountyFair.com.

Real Estate

Nevada County Residential Sales, Dramatic Increase From June 10, 2008 to June 10, 2010

By John J. O’Dell

The number of residential sales  from June 8, 2008 to June 10, 2010 increased 77 percent, a dramatic increase in the last  two years.  In June of 2008, 64 residential properties sold. In June of this year, 113 residential properties sold. The average number of days for a residential property to sell in June 2008 was 88 days compared to June 2010 which was 113 days.

Comparing this year to last, in June 09, 2009, 95 residential units sold compared to June 10, 2010 of 113 units, an increase of 16 percent, indicating that overall, sales have increased in Nevada County for the last two years.

The median price dropped from two years ago, in June 2008, the median price was $339,500, and in June 2010 the median price was $280,000 a drop of 18 percent.

However, the median price for residential property in June 2009 was $278,900 and in June 2010 the median price was $280,000 a slight increase, indicating a positive trend, with sales up and an increase in the median price.

Inventory of residential properties have remained about the same, with a 15 month supply in June 2008 compared to a 14 month supply in June of 2010. Inventory of units for sale in June 2008 were 1,149 compared to 1,003 in June of 2010.

Overall, the market outlook seems positive, with increased sales and the median sales price appearing to have stabilized.  I like to look at things like the glass is half full rather than half empty. After all, if we have an unemployment rate of ten percent in California, there are still ninety percent of the people working.

Source of data: Clarus MarketMetric®

John J. O’Dell
Real Estate Broker
General Contractor
Call 530-263-1091

Real Estate

Home Buyer Credit Extension Signed by Obama



Congress passed a bill last week extending the deadline to close escrow and qualify for the federal home buyers tax credit.  President Obama signed the bill on July 2, 2010 according to reports.

The bill doesn’t help anyone currently shopping for a home. Buyers must have signed a contract by April 30 to qualify for the tax break. At issue is when the deal must be finalized. Qualified existing homeowners also have until Sept. 30 to close on new homes and receive a tax credit of up to $6,500.

Some details:

  • The bill extends the deadline to close escrow for home buyers who entered into a home purchase contract by the April 30 deadline.  First-time buyers may be eligible to receive up to $8,000 and qualified existing homeowners may receive up to $6,500 if the home buyer closes escrow by Sept. 30.
  • Home buyers entering into sales contracts May 1 or later are not eligible for the federal tax credit, but they may qualify for the California home buyer tax credit.
  • The CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) and the NATIONAL ASSOCIATION OF REALTORS® worked closely with members of Congress to extend the deadline.  Estimates from NAR show nearly 180,000 home buyers nationwide would have missed out on the tax credit if the deadline was not extended, including nearly 17,700 home buyers in California.
  • Many of the home buyers who would have missed out on the tax credit are in the midst of purchasing a short sale or foreclosure, which generally take longer to close due to the amount of paperwork involved in the transaction.

Thinking of buying or selling

Call John J. O’Dell
Real Estate Broker
General Contractor
530-263-1091

nevada county fair

2010 Mother Lode Horse Show Results


The Nevada County Fairgrounds was filled with horse enthusiasts this past weekend as exhibitors competed in the 2010 Mother Lode Horse Show. This annual three-day event gives spectators an opportunity to observe participants work with their horses as they compete in Driving, English, Halter and Western Shows. At the conclusion of each class, competitors are awarded their placing, which is a demonstration of achievement in horsemanship.  The results of the Mother Lode Horse Show are listed below.

The Mother Lode Horse Show is the official horse show of the Nevada County Fair. This year’s Nevada County Fair starts Wednesday, August 11 and runs through Sunday, August 15. For more information about the Fair, visit www.NevadaCountyFair.com.

2010 Mother Lode Horse Show Results

I. High Point Winners:

  • Beginning English Youth: Emily Freeman, Riding Midsummer Knight
  • 17 & Under English: Macy Wilson, Riding Rendezoux
  • Walk-Jog 10 & Under: Claire March, Riding Mr. Flashman
  • Western 13 & Under: Sunny Gorba, Miss Gracie Undercover
  • Western 14 & Over: Erin Hastey, Riding Thunderous Praise
  • Performance Mule: Lack of Entries – No Award Given
  • American Morgan Horse Award: Spencer Prouty, Riding Black Horse Cassandra

The Mother Lode Fairs Circuit High Point Awards will be presented at the end of the circuit.

The final horse show will be at the Amador County Fair, July 29 – August 1.

II. Awards and Trophies:

Continue reading 2010 Mother Lode Horse Show Results →

Real Estate

Five Steps to Take Before Buying a Home

As the housing downturn has shown, homeownership is about more than buying a home – you have to make sure you can keep the home over the long term. If you’re thinking about buying a home, these five steps can help ensure you get the right house for you and the affordable financing that helps make homeownership a long-term success:

1.  Get Educated. A little mortgage know-how goes a long way toward ensuring you get an affordable mortgage

Before you hire an agent or find a lender, get educated on the loan process and key factors that make a loan affordable.  You’ll  want to know about loan types – fixed-rate mortgages, adjustable-rate mortgages, FHA and VA loans – and the full range of line items that contribute to the total cost of securing the loan, including discount points, appraisals, and real estate agent commissions.

If you would like more in-depth information, the Department of Housing and Urban Development (HUD) can put you in touch with the nearest housing counseling professional in your area. Visit www.HUD.gov for more information. You can also check with local government, neighborhood associations and neighborhood bank branch offices for information sessions on home buying as well as homebuyer-education programs.
Continue reading Five Steps to Take Before Buying a Home →