Dickson Realty Truckee Tahoe November 2014 Newsletter

The Dickson Truckee Team

11836 Donner Pass Road | Truckee, CA 96161 | 800.541.4440

Dickson Realty’s November 2014 Newsletter

Market Turmoil: A gift for refinancers and potential buyers?

This past week saw a plunge in mortgage rates. This raised the

question on many homeowners’ mind, should I refinance? It also

rallied a lot of people to really seek out purchasing their dream

home as the low rates allow for lower monthly payments and/or

higher purchase prices.

The financial markets have been turbulent as stock prices and

bond yield have been tumbling. Rates on long term mortgage

can track the 10 year Treasury yield which fell below 2 percent

for the first time since May 2013.

The average rate from Freddie Mac dipped below 4% for a 30 year fixed. As recently as

January, the average was 4.53%.

Ultra-low rates do carry risks as well as opportunities. A good loan officer should be able to do a

financial analysis for you and easily show you with all closing costs if it makes sense for you to

refinance. It’s all about the numbers (both short term savings and long term savings)!! Prior to

paying points and fees, make sure the gain helps you reach your financial goals not just a

temporary lower payment.

Many in the lending industry have assumed that home loan rates would rise by the end of the

year. Some anticipated rates going as high as 6 percent for a 30 year fixed loan. That was

based on expectations that rates would rise at the end of QE3 and the Federal Reserve would

start raising its key short term rate next year.




But stocks plunged Wednesday amid fears about global weaknesses, the spread of Ebola and the

threat of the Islamic State militia group in the Middle East. Investors poured money into U.S.

Treasuries and the yield on the 10 year note traded as low as 1.91 percent Wednesday. Money also

went into the safety of Mortgage Backed Securities. By Friday, the stocks rally began and the Treasury

yield went to 2.20. That suggests the moment to refinance might be fleeting.

If you want a complementary analysis on your specific situation please call the Rice Conway Mortgage

Team at 530-582-9992 or email us at [email protected]




Corrected graph - from October newsletter

Truckee Single Family Homes




Lake Tahoe Single Family Homes




Seriously Underwater Mortgage Rate Sinks to Lowest Level in Two Years

The number of U.S. homeowners who were seriously underwater in the third quarter declined 11 percent from the

previous quarter, falling to the lowest level in more than two years, according to RealtyTrac's Q3 2014 Home

Equity & Underwater Report released Thursday.

RealtyTrac reported that 8.1 million U.S. homeowners, representing 15 percent of all mortgages in the country,

were seriously underwater on their mortgage in Q3, the lowest percentage of underwater mortgages nationwide

since RealtyTrac began tracking the data in Q1 2012. For a mortgage to be considered seriously underwater, the

combined loan amount secured by the property must be at least 25 percent higher than the property's estimated

market value.

The number of seriously underwater mortgagors in the U.S. in Q3 accounted for a combined total of $1.4 billion in

negative equity, according to RealtyTrac.

The nation's seriously underwater rate has been steadily declining since Q2 2012, according to RealtyTrac. For

that quarter, properties with a mortgage in the U.S. that were seriously underwater reached their peak at 12.8

million (29 percent). By Q3 2013, the number of seriously underwater properties in the nation had fallen to 10.7

million, representing 23 percent of the nation's mortgages. In Q2 2014, RealtyTrac reported there were 9.1 million

seriously underwater properties, or 17 percent of all mortgages in the U.S

Follow this link to the rest of the article from DS News.

http://dsnews.com/news/10-22-2014/negative-equity-sinks-lowest-level-two-years?utm_source=DSNews.com&utm_campaign=fb7b1fae6d-Your_Daily&utm_medium=email&utm_term=0_1924082bfe-fb7b1fae6d-174725073




.Weather or Not

This time of year, it can be difficult to rally the troops for outdoor events when the weather is cool, wet, and wild.

Here are a couple of tips for some indoor fun in our area! Click on the headers below will take you to the

websites for more information.

Woodward TahoeRun! Jump! Flip! Play! Get out your wiggles with a giant 33,000 sf warehouse full of ramps, tramps, and more,

just steps from Boreal’s main lift.. Local freestyle ski and board teams workout here, as do many a pro athlete.

It’s a great way for the kids to interact with their idols. A snack bar and party patio round out the offerings.

Parents can relax while watching the action below. Season passes are available.

Tahoe Maritime MuseumDiscover the treasures lost beneath the surface of Lake Tahoe at the Tahoe Maritime Museum during "Ghost

Ships," a new exhibit featuring boats that sank in Lake Tahoe. Using oral history, underwater footage and found

artifacts, "Ghost Ships" pieces together the history of boating on Lake Tahoe.

The exhibit features a combination of salvaged vessels, video and historical documents to explore the stories of

select boats and question the social and legal issues pertaining to salvaging vessels along with the impact of

public interaction with underwater historic sites.

http://www.woodwardtahoe.com/

tahoemaritimemuseum.org




The KidZone

Truckee’s “go to” spot for tots and toddlers. A rich array of permanent and regularly changing exhibits,

for early learners and school-age children, that invite children to lead with their imaginations, to

explore without limitation and to learn through hands-on discovery. Drop in to play or participate in one

of their many classes. An absolutely precious resource for little people not yet ready for the slopes

during our long winters – and all year ‘round.

Photo courtesy of KidZone Museum

http://kidzonemuseum.org/index.html




Dining Out in Shoulder Season

The North Lake Tahoe area is visitor dependent and many stores and restaurants suffer a little bit during

what we refer to as our “shoulder seasons” – those on either end of the busy summer and winter months.

Many actually close and use this time for a well deserved vacation, or they may reduce their operating

hours. Some – the ones we are grateful for – offer dining discounts such as two for one offers, and free

appetizers with the purchase of two entrees, etc. One good way to be in the know about specials is the local

paper and activity weeklies. Coupons are featured often here.

Also, the Truckee Tahoe Excellence in Education Foundation offers Dining for Schools cards as a fundraiser.

This is by far the best deal around. $50 gets you 50% off your individual dinner entrée at 43 participation

North Lake Tahoe restaurants. And, by purchasing a Dining for Schools card, each cardholder supports

excellence in the education of the children of our community. All proceeds from the purchase of Dining for

Schools cards benefit the Tahoe/Truckee Excellence in Education Foundation. Each year the Foundation

raises money and provides grants, resources and partnerships to benefit students, teachers and the

educational community as a whole. For more information or to order a Dining for Schools card, click here.

And for a list of North Lake restaurants and their operating hours, the nice folks at the North Lake Tahoe

Chamber have put together it all together in one place for you. Manga!

http://www.exined.org/dining-schools

http://www.exined.org/dining-schools

http://origin.library.constantcontact.com/download/get/file/1108743637509-2168/Fall+Dining+Guide+2014.pdf




NOVEMBER EVENTS

November 1

African Bazaar and Fair Trade Gift Faire

11am – 4:30. Free.

PUD Building – 11570 Donner Pass Road

Looking for a creative way to celebrate the holidays this year? With a fair trade gift, you honor your

loved ones and make a difference in the lives pf people living in Africa, all without a trip to the mall.

Information: http://asantenetwork.org/

November 2

Sierra Senior Services Pancake Breakfast

Sierra Senior Center, 10040 Estates Drive, Truckee

8 to 11am, $7adults/$3 kids

A fundraiser for Sierra Senior Services

Information: www.sierraseniors.org

Photo courtesy of Asante Network

http://asantenetwork.org/

http://www.sierraseniors.org/




November 7

First Fridays

Historic Downtown Truckee

5-8pm. Free.

Most of downtown’s unique shops, boutiques, art studios, and eateries will

keep their doors open later and offer special promotions, activities,

demonstrations, food and beverages, music, and more! Participating

shops and restaurants will display First Friday Flags so the public will

know where the fun is.

Information: www.historictruckee.com

November 7

“Climate Change 101” with Derek Larson

Sierra College – Truckee

1001 College Trail

7-8:15pm

RSVP: 530-550-2290

Information: www.sierracollege.edu

http://www.historictruckee.com/

http://www.sierracollege.edu/




November 7

Tahoe Regional Job Fair

North Tahoe Conference Center

8318 N Lake Blvd, Kings Beach, CA

4-6pm

November 8

TRUCKEE SKI & SNOWBOARD SWAP

11am-4 pm

Community Rec. Center

Back with a wide variety of new and used equipment, accessories, clothing and winter

gear for the entire family! Come join the fun and look for bargains! Local reps from ski

shops and resorts will be on hand to answer your questions. All proceeds help support

Truckee Youth Sports Programs.

Information: www.tdrpd.org

http://www.tdrpd.org/

November 20

Soroptishop

Truckee Community Center, 6-9pm.

Come enjoy wine & appetizers while you shop for the holidays!

Several dozen vendors will be featuring jewelry, artwork, clothing,

kids items, and so much more.

Information: http://www.sitruckeedonner.org/soroptishop.html

November 14-16

The Craft Festival

Reno Sparks Convention Center

200 booths representing independent craft workers from 7 Western States. "The Craft

Festival" demands that all exhibitors present and maintain high standards of originality.

Information: www.stevepowers.com

November 21-23

Reno ComicCon

Reno Sparks Convention Center

4590 South Virginia Street

Jon Bernthal and Norman Reedus of “The Walking Dead,” fellow Boondock Saints stars

Sean Patrick Flanery and David Della Rocco, and “Green Power Ranger” Jason David

Frank were the first celebrities to commit to the event, which will feature additional top-

level celebrities for autographs, photo ops and panel programming. Thousands of fans,

many cosplaying as their favorite characters, will also enjoy meeting superstar comics

creators and celebrating the best in TV and movies, pop-fi, sci-fi, video and table gaming,

toys, original art, collectibles, contests and everything pop culture.

Information: www.wizardworld.com/home-reno.html

http://www.sitruckeedonner.org/soroptishop.html

http://www.stevepowers.com/

http://www.wizardworld.com/home-reno.html

Dickson Realty Truckee Tahoe November 2014 Newsletter

Documents

Transcript of Dickson Realty Truckee Tahoe November 2014 Newsletter