All posts by jd

Real estate broker, civil engineer and general contractor.
Travel

From Sorrento, Italy to the Amalfi Coast

I forgot to post this from our travels.  Saturday, May 29,  and the last whole day in Sorrento, we took the Bus down the Amalfi Coast. First, getting off in Positano, you can see several shots of the area, and walking down into town (very touristy).  Next, a view of Amalfi Town, with way to many tourists for us. We quickly took the walk into the next little town, Atrani.  There Judy had a walk into the Mediterranean Sea, and we had a great meal at the local Pizzeria. After a stroll through town we went back (through the tunnel) to Amalfi Town.  We then trekked up to the Museum of Paper (Cartas), and back past the fantastic Cathedral, a mix of Moorish and Byzantine flavors, built in 1000-1300, with a new Neo-Byzantine façade from the 19th century.

httpv://www.youtube.com/watch?v=-vA2-9VyMcY

The topper for the night was when we got back to Sorrento; Judy had an e-mail from a Sacramento Home Winemakers Club friend, saying another wine club couple was in Sorrento that same night. We called them up (using Skype) and met for dinner, thousands of miles from Sacramento, California. Amazing how small the world is, with technology.

Bits & Pieces, Real Estate

Rush Limbaugh Sells New York Upper East Side Apartment for $11.5 Million

Rush Limbaugh railed against proposed New York tax hikes last year, and vowed to leave the city for good. It took a little while, but Limbaugh has now unloaded his ritzy Manhattan condo for about $11.5 million, the Wall Street Journal reports.

Although Limbaugh wanted $12.95 million for the Upper East Side apartment, he still comes out ahead on the deal. The conservative talker paid less than $5 million for the place in 1994.

Limbaugh hosts his top-rated radio show primarily out of Palm Beach, Fla., where he lives full time on a palatial beachfront estate. But Limbaugh occasionally treks to New York, where several of his staffers work. These days, Limbaugh’s fill-in hosts are more likely to use the New York studio.

“Basically I go to New York now for hurricane relief, whenever a hurricane hits,” Limbaugh said on his show in March 2009.  “No other reason to go there.  Well, sometimes I visit the overrated staff, but it would be cheaper to fly the staff down here to visit me than to pay these stupid tax increases!”

Even if Limbaugh traveled north only for hurricane relief and staff visits, he had a nice place to crash in the city. The Fifth Avenue spread includes four terraces, double living room, large media room and Central Park views, according to Corcoran’s real estate listing.

No word on whether or not Limbaugh will also make good on his threat to flee the country to Costa Rica for medical treatment  if the health care bill passes. It is said after he made the statement that he clarified saying he would go to Costa Rica for health care. I guess he may want to go there for the following reasons:

“Fact: Life expectancy in Costa Rica for men is 76 years and for women 79.8 years, both longer than in the USA. Also the infant mortality rate is a lot less in Costa Rica in comparison with the USA. The UN (United Nations) has ranked Costa Rica’s public health system within the top 20 worldwide and the number 1 in Latin America!

With a network sponsored by the government with 29 public hospitals and more than 250 medical clinics throughout Costa Rica, the Social Security System (CCSS) has the primary responsibility for providing health services at low costs to the Costa Rican population. Not just available for Costa Ricans, the CCSS also provides low cost medical service to any foreign resident or tourist. Foreigners who live in Costa Rica with a residence can join the CCSS by paying a small monthly fee or another option would be that they can buy an inexpensive health insurance from the Insurance Company (INS) which is owned by the State valid with over 200 affiliated doctors, hospitals and pharmacies.

The hospitals and doctors in Costa Rica have the latest equipment, and the laboratories are simply perfect. You can feel secure having most operations here in Costa Rica without having to return to the U.S. or Canada. Most operations, such as surgical procedures are a lot cheaper here! A quick example, a heart bypass costs about 1/3 of what you would pay in the USA and the professionalism is the same or better.”  Source: Century 21

You can draw your own conclusions as to why he wants to go there.

Real Estate

Asian Buyers Buying Homes After Avoiding Housing Bubble

A substantial number of Asians and Asian-Americans dodged the housing crunch, and now they’re taking advantage of low home prices and low mortgage rates in California, say local real estate agents and a survey from a Realtors group.

The proportion of California homebuyers who were ethnically Asian, a group whose heritage may be Asian Indian, Japanese, Chinese, Filipino, or a host of others, rose from 12 percent in 2007 to 15.8 percent in 2008 and 18.1 percent in 2009, according to the California Association of Realtors Annual Housing Market Survey.

Local real estate agents said they’ve seen the increase in Asian buyers in San Diego and Southwest Riverside counties. They said Asian buyers are typically financially conservative, and thus stayed away from the overpriced homes of the housing bubble in the mid-2000s. Now these buyers have the cash and credit to take advantage of reduced housing prices.

Leslie Appleton-Young, chief economist for the California Association of Realtors, said the change in the proportion over time was noteworthy.

“They’re buying in distressed markets and utilizing (government incentive) programs,” she said.

During the height of the boom, from 2003 through 2006, the proportion of Asian homebuyers never rose above 12 percent, according to the surveys.

Local real estate agents said many Asian buyers prefer to invest in their own small businesses, and many are uncomfortable taking on too much debt.

“Asians are very conservative when it comes to buying,” said Shonee Henry, a Realtor in Scripps Ranch and president of the San Diego chapter of the Asian Real Estate Association of America. “We don’t go out there and buy, and forget about what’s going to happen tomorrow. We tend to make sure we have enough money to support ourselves and everyday expenses.”

Henry opined that many Asian-Americans avoided buying during the peak of the boom partly also because homes were expensive.

“They might have had the down payment, but the monthly payments were too high,” she said.

Now, with the median home price down 35 percent from the 2006 peak, these buyers have cash to make purchases and put down sizable down payments.

The CAR survey said the median down payment on a house by Asian buyers was $90,000 in 2009, triple that of non-Asians. They also consistently paid 20 percent of the sales price as a down payment, whereas non-Asians put down 10 percent. Appleton-Young said Asians may be avoiding low-down-payment programs such as those offered by the Federal Housing Administration.

Source: North County Times

Business, Local Writers & Contributors

Are You Ready to Get Serious About Your Marketing?

by Lisa J. Lehr

Business owners can easily get stuck in a vicious cycle: Business isn’t so good. They can’t afford to outsource their marketing. They do it themselves, results remain poor, and business remains not-so-good.

How do business owners get out of this vicious cycle? It’s not easy, but it’s simple: they make a decision to get serious about their marketing before they lose their business altogether. If you’re a business owner finding yourself in this rut, here are some ideas to get you started:

1.      Define your audience. If you try to market to everyone, you end up marketing to no one. Who’s your target market? Once you’ve figured this out, you may discover you don’t have to spend as much money on marketing as you have been.

2.      Find a copywriter. Ask other local business people or do an online search. You can work with someone locally or long-distance, as you prefer. Fee structures vary. After you’ve interviewed a few, it’s best to choose one in the mid-range. Highly paid copywriters are the best, but a lot of their cost is simply their fame. Don’t choose the lowest bidder—you’ll get what you pay for.

3.      Get a website! It’s mind-boggling that some business owners still don’t “get it” that a website is absolutely essential. Many potential customers want to “check you out” before they call you or come into your place of business. If they can’t, they may well go to your competitor instead. It’s really not a highly technical task anymore, but if you don’t have the skills or the time to do it yourself, outsource it.

Continue reading Are You Ready to Get Serious About Your Marketing? →

Real Estate

Men and Women Somewhat Agree in Home Must-Haves

1 Comment

It’s true. Men aren’t looking for exactly the same things women are when they go home shopping.

A recently released survey by ZipRealty found men often seek luxurious bathrooms, guest bedrooms, dining rooms, and views in homes, whereas women most-often desire home offices when searching for a home to purchase.A recently released survey by ZipRealty found men often seek luxurious bathrooms, guest bedrooms, dining rooms, and views in homes, whereas women most-often desire home offices when searching for a home to purchase.

ZipRealty surveyed 1,000 home shoppers and concluded that while about an equal number of men and women sought green features – about 27 percent – and 35 percent of both sexes put a high priority on a home office, there is disparity in the desire for other features.

Both sexes did agree on the biggest turn-offs: structural damage, bad odors, a busy street, and an awkward floor plan.

Here are the top 10 features most desired by men:
1. Garage or designated parking space, 85.5 percent
2. Master suite, 79.8 percent
3. Ample storage space, 71.2 percent
4. Guest bedroom, 70.2 percent
5. Large closets, 64.2 percent
6. Outdoor entertainment area, 63.4 percent
7. Gourmet or updated kitchen, 59.1 percent
8. Breakfast room or eat-in kitchen, 55.2 percent
9. View, 44.5 percent
10. Large yard, 43 percent

Here are the top 10 features most desired by women:
1. Garage or designated parking, 87.7 percent
2. Master suite, 77.8 percent
3. Ample storage space, 72.7 percent
4. Large closets, 68.7 percent
5. Outdoor entertainment area, 64.2 percent
6. Guest bedroom, 63.9 percent
7. Gourmet or updated kitchen, 61.8 percent
8. Breakfast room or eat-in kitchen, 56.1 percent
9. Large yard, 43 percent
10. Wood floors, 40.9 percent

Source: ZipRealty.com (06/10/2010)

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 →