SEPTEMBER -- FALL AND FOOTBALL!

MORTGAGE UPDATE:

My last update in May signaled the end of our record low interest rates. Rates jumped up rather rapidly by 1% and have drifted higher since, with a few minor ups and downs. When clients complain about rates that aren’t in the 3’s I remind them that we are still very near the bottom of the rate cycle over the last 30 years +.

Currently we are looking at rates in the mid-4’s to low 5’s for 30 year fixed programs, depending on various factors. You can still get a rate in the 3’s if you are interested in an ARM. The spectre of inflation, coupled with expectations of the end of Quantitative Easing, was the signal to the market to move, and it did!

We’ve seen property prices rise this year along with rising rates. The good news is, your property is worth a lot more than last year. However, the seller’s market has slowed in the last month, and is transitioning toward a buyer’s market today.

SUMMER:

Maybe it’s my age, but it passed so quickly!

I went on the Rock Creek Pack Station Horse Drive in June. It is an endurance event as always! This time I was accompanied by four friends, and they weren’t quite prepared for what was to come. Luckily, they all rallied and had a great time. For the uninitiated, it involves moving stock (horses and mules) up the Owens River Valley from Independence to Rock Creek Lake above Bishop over four days and covering around 100 miles. It is hot, dusty, hard work, hot, dusty, long, and dusty. Did I say it is HOT and DUSTY? It is also a lot of fun. This year, for the first time, I was assigned to ride a mule and I was unsure whether it was a prize or punishment. Actually, the mule was great! The other “guests” were from all over the US, and mostly expert riders. I highly recommend it if you want to try something different! www.rockcreekpackstation.com I have known the station owner Craig London my entire life and have ridden with them often over the years. My first time on a horse-- at age 3, was with Craig-- and our mothers. Here I am:

WEDDING SEASON:

July saw us travelling to two weddings. We visited friends in Calistoga for the 4th, and then drove over to Nevada City for the first wedding. While in Napa, we drove over the hill to Aetna Springs (Pope Valley) www.aetnasprings.com/#/home/ and went swimming in their swimming hole, which was a treat. By way of explanation the Pope Valley is adjacent to Napa Valley to the east, and grapes grown there carry the appellation of Napa which is worth a lot of status and $$. We had dinner one night at the SolBar at the Solage, always a favorite. www.solagecalistoga.com/solbar

Later in the month we spent a long weekend in Santa Barbara for Steve’s niece’s wedding, which was quite an extravaganza, at a private estate in Montecito. For his trip we rented a home (www.VRBO.com) in the Mesa area of Santa Barbara with an ocean view. Nice! Both weddings were beautiful and memorable events. Here is Steve’s niece Emily and her husband, Justin. Beautiful couple!

My daughter announced her engagement to her beau Paul in July, making it even more exciting! I had an early hint during their visit with us in June.

August was relatively quiet with only one vacation to Mammoth with Steve’s boys. We fished, hiked and generally relaxed. I LOVE Mammoth in the summertime. We hiked up the Rock Creek Canyon, and one day we rented a pontoon boat on June lake and lazed around, trying to catch fish without success. However we drank a lot of beer!
We had a quick family get-together in August, for my mother’s party, and here is a pic of my me, my sis, my daughter and my niece Page together:

CATALINA:

We just returned from a weekend jaunt to Catalina at Two Harbors. We went over on a 44’ sailboat Friday morning (motoring) and returned Sunday.

The highlights were: snorkeling at Emerald Bay, running out of quarters at the pay showers on-shore (hmmm mid-shower) dancing at the Harbor Reef Saloon Saturday night, www.visitcatalinaisland.com/twoHarbors/Dining.php and attempting to sail in what felt like gale force winds for about fifteen minutes, during which time I was sure we were all going to perish. Luckily we didn’t. Figuring out which lines went where was complicated!

Oh, and did I forget to mention we fouled our mooring line (actually the sand line got tangled in our engine prop the last night) and we had to have the Harbor Patrol, a boat diver AND Vessel Assist all help us to remove ourselves from the harbor. What can I say, it was an adventure! Can’t wait to go again!

I also had a visit to Dallas squeezed in there… fun as always. I still swear by Stampede 66, the Stephan Pyle restaurant. www.stampede66.com This time we took the building’s driver for a tour of McKinney before getting dropped at the restaurant. Very stylish! I could get used to it! The walk home was only a few blocks through the new Klyde Warren Park. The Park offers exercise classes most weeknights (Yoga, Zumba, Cross-training) and has free concerts too!

I want to get in a plug for my favorite new restaurant in Dana Point, the Wine Bistro Dana Point. www.winebistrodp.com The Wine Bistro is next door to Hennessey’s and is owned by Paul Hennessey. I had the pleasure of meeting him at their First Anniversary Party this summer. I try to visit every Monday night for their special $20 three-course food and wine tasting. A great deal, and always fun and interesting food. Chef Nael does a great job.

After all this, I am tired and I just want to stay home for a while. I hope your summer was fun and eventful too!
Now I’m glad it’s football season and we can watch TV on Saturdays…

HOT TIME, SUMMER IN THE CITY…MARKET AND TRAVEL UPDATES

RATES...FIRST AND FOREMOST

Interest rates have moved off their record lows of the summer (and ever, for that matter) and are hovering slightly higher after news of stabilizing events in the EU as well as improved economic indicators here in the US.

Rates are subsequently up around .25% which brings them back to the levels of late June. I will not predict whether they will rise or fall in the near future since I, along with almost everyone else, thought we’d seen the bottom much earlier this year.

As I am fond of telling my clients, I threw away my crystal ball some time ago….there are just too many factors affecting rates today in our global economy.
Home values appear to be rising slightly in some markets, and there is no clear indication of the legendary “shadow inventory” of properties either owned by banks or not yet foreclosed…so your guess is as good as mine on the future of home prices!

VACATIONS AND FUN STUFF

In mid-June –Fathers’ Day weekend-- we went to our favorite camping spot on the bluff over the ocean in El Capitan where Steve painted some nice landscapes while I read. We kayaked in the ocean (alas no dolphin sightings except from shore) and took some bike rides.

One day we drove from our campsite, where it was at around 60 degrees, inland to the Los Padres National Forest (on the way to the San Ynez Valley) for a bike ride. When we arrived there, the temp was almost 100. No kidding! To cool off we went swimming in the river which was a hoot (yes we brought our swimsuits!)
Favorite eats were lunch at Brophy Brothers, dinner at Beachside Bar & Café in Goleta and Holdren’s Steakhouse.

Next up – In early July we drove to Napa Valley for some wine tasting and to visit close friends who live in Calistoga. We were accompanied by my daughter Katie and her boyfriend Paul, who had both flown out from Ann Arbor.

Favorite wineries were Rombauer, Frank Family, Clos Pegase and Cuvaison. We had a wonderful dinner out on our last night with our friends (including a local chef, and a winemaker) at the SolBar in the Solage resort.

http://www.solagecalistoga.com/solbar

Amazing food, accompanied by special bottles we brought in, plus a magnum of Zinfandel. I’ve become a Zin lover since I first tasted the Rombauer Zins. WOW! We partied on the 4th at our friends’ home… with an expansive view of the Valley from the hill above Calistoga, where we watched the fireworks at the State Fairgrounds below us. All in all a great time!

On the 6th we drove through San Francisco down to Carmel for a wedding. We had the great fortune to stay at the Mission Ranch in Carmel overlooking a vast meadow and Carmel Bay. http://www.missionranchcarmel.com/ The wedding party had booked about half the rooms at the Ranch where the rehearsal dinner was held, and I had the honor of creating the playlist and “dj-ing” the event. It was a blast and I’ve found my next calling for the future, after I become a professional dancer/Zumba instructor! HA!

The morning of the wedding Steve, Katie, Paul and I rode our bikes from our hotel through Carmel to 17 mile drive. It was beautiful and might I say somewhat strenuous (I’d forgotten how many hills there are). We returned just in time to grab a bite at the Rio Grill. http://www.riogrill.com I was super impressed with the menu and beer and wine list, and wished we’d had more time but we had to do a quick change to make it to the wedding, which was a full mass at the Mission Basilica. The artwork inside was impressive…and OLD! The wedding was awesome…afterwards we had a great party in Carmel Valley.

The next day, while in recovery, we rested and took a walk down to the beach below us. For dinner Steve and I browsed around Carmel Village and found ourselves at a restaurant named Grasings which was absolutely the best food we’d had in days (hmmm since the SolBar?) I highly recommend dining there next time you are in Carmel. http://www.grasings.com/ The bartender entertained us with stories of deep sea fishing and free diving off the Santa Cruz, Monterey and Marin Coasts. Fun and fabulous food!

Katie and Paul flew home Sunday, we drove home the following day, and I found I’d gained five pounds which I have had to work very hard to take off. AHHHHH! The joys of aging!

FINALLY Steve and I took his boys to Mammoth for a family vacation in August for a week where we stayed in a condo at Snow Creek. It was very lovely, beautiful views, wonderful warm weather, great biking, hiking and fishing. We ate our own freshly caught trout (from June Lake) and were skunked at both Lake Mary and Lake George. The hike up above Lake George to Crystal Lake offered wonderful views of the valley down past Mammoth to the Owens River Gorge.

One day we rented a pontoon boat on June Lake and lazed around, swimming, fishing and just chatting. These pontoon boats have apparently become very popular in the mountain lakes as well as SUP’s (Stand Up Paddle boards for the uninitiated.)

Home at last….until the next trip. I hope your summer has been an enjoyable and eventful as mine! Please call me if I can help out with your home financing needs.

Karen

July - The Heat is On!

Rates continue to hit records lows, and property values are following suit. Sales volume appears to be picking up. Of course, this is the traditional buying season!

Reminder: if you’re holding onto a loan with a rate over 5.5%, you most likely should refinance. Rates are in the low 3’s for 5,7 and 10 year loans, and in the mid-4’s for 30 year fixed rates. Specific rates all depend on loan size, property value, and FICO score; and for loan approval you’ll need to offer up your firstborn child. NOT! But sometimes it feels that way these days!

Fun in the Sun:




Our Fourth of July was spent with old friends on their boat in the Dana Point Harbor. We kayaked around the harbor, and witnessed the water fights in the main channel where young and old alike—on all kinds and sized watercraft -- enjoyed splashing each other with power hoses, water guns, buckets of sea water, etc. What a sight to see!


We’ve attended the first two free concerts in the park here in Dana Point: a Fleetwood Mac cover band, and last week --the Parrot Heads. You’ve got to love Dana Point and all their community events. The parks offer harbor and ocean views in the Sunday afternoon sun while participants of all ages dance and socialize.




We’re loving summer. We had a short camping trip to Santa Barbara, where I crashed on my mountain bike. Then Steve and I explored the Jalama Beach Resort north of Gaviota, which we’d read about but never seen. It’s beautiful but very remote. www.jalamabeach.com We camped at our favorite spot in El Capitan. And, I’ve recovered from my knee injury!

Steve is still commuting to Dallas, and I’ll accompany him later this month. I hope it isn’t sweltering! At least I’ll have a swimming pool…What have you been up to