Tag: Kristin Lanham

You Can Opt Out Of Credit Monitoring

Credit to JVM Lending for an excellent and informative blog post about credit bureaus, which I’ve shared in a slightly edited format here. The most important part, to me, is what follows:

Credit bureaus sell borrower info when credit is pulled. And, unfortunately, borrowers are getting pummeled by online lunatics even if they never apply for a mortgage with any of them! But, good news; borrowers can opt OUT of credit monitoring!

All you have to do is visit THIS LINK for optoutprescreen.com and click the prompt at the bottom of the home page. It’s an easy way to fix a major annoyance. No more aggressive follow-ups from online lenders, no more spam calls, and no more emails.

Thanks to Jay Vorhees and JVM for pointing this out! I think taking the small step of following the link above and opting out will save you from lots of spam. Personally, I just opted out of electronic follow-ups for five years, though I’m still working on stopping phone calls.

Around The Bay This Weekend

I’m taking a week off from my normal Inspiration Saturday posts to share some local events around the Bay. The first four events happen THIS WEEKEND, so they are good for last-minute planning. One of the Walnut Creek events you can plan ahead for. Enjoy!

Peninsula

The 50th Annual Half Moon Bay Art & Pumpkin Festival takes place this weekend after a two-year COVID hiatus. There will be food, drink, entertainment, and more!

San Francisco

World Arts West presents Dance in the Park, a free event at The Presidio from 12-5 p.m. today. You can bring a picnic and sit in the grass to enjoy dances from all over the world, including Egypt, China, and Mexico.

Marin

Bikes, beers, and bands? Sounds great! Biketoberfest in TBD connects all three, offering 35 bike exhibitors, 15 breweries, and much more. This event takes place today from 12-5 p.m. Buy tickets here!

East Bay

If you are around Walnut Creek, the city is hosting Oktoberfest tomorrow from 12-7 pm. I will be in attendance at Civic Park, soaking up the lederhosen & dirndls with a stein of beer in hand!

Also, Walnut Creek’s 3rd annual Trunk-or-Treat event takes place on Friday the 28th from 3-6 p.m. in Civic Park! Families can bring kids to trick or treat through vendor trunks, and take in some exciting booths along the way. Learn more.

A Day At Gloria Ferrer & Highway 12

Recently, I went wine tasting with a couple of my past clients who are now friends – meet Travis and Sherry. We went to Gloria Ferrer and Highway 12 in Sonoma. They were picking up shipments they get with their wine clubs, so I tagged along to check them out. I must say, Gloria Ferrer really was a class act.

They are known for their sparkling wine there and when we arrived, each person was given their own small charcuterie board with cheese, meats, crackers, nuts, and olives…at no additional cost for club members.

There was a beautiful patio, but we sat inside since it was a bit chilly that day. Gloria Ferrer also offers a weekend brunch with wine pairing, which I hope to come back and check out soon. According to the Gloria Ferrer website, the owners thought Sonoma would be an ideal climate for Pinot Noir and Chardonnay (their specialties), which led to a perfect combination for making sparkling wines.

Highway 12 is tucked away on the square in Sonoma. It is quaint and their Highwayman Red Blend and Pinot are delicious, along with their Highway 12 selection. There are rumors that you can get the red blend at Concord Costco, but I have yet to verify. It is worth a stop for a tasting if you are in Sonoma, though. I recommend a reservation as it is a fairly small tasting room with most of the seats outside! We are so close to Napa and Sonoma, I always ask myself why I don’t go more often. Enjoy!

The True Strength Of Homeowners Today

Keeping Current Matters shared a blog about homeownership recently that I wanted to touch on. The question they asked in the blog was “how financially strong are homeowners throughout the country?” Given that mortgage debt grew beyond $10 trillion over the past year, it’s a good question. See what they wrote:

Recently Odeta Kushi, Deputy Chief Economist at First American, answered that question when she said: “U.S. households own $41 trillion in owner-occupied real estate, just over $12 trillion in debt, and the remaining ~$29 trillion in equity. The national “LTV” in Q2 2022 was 29.5%, the lowest since 1983. Homeowners had an average of $320,000 in inflation-adjusted equity in their homes in Q2 2022, an all-time high.”

LTV refers to “loan to value” ratio, which compares the size of your mortgage loan to the value of the home. For example, if your home is worth $200,000 and you have a mortgage for $180,000, your LTV ratio is 90%, because the loan makes up 90% of the total price. Another way to think about this is in terms of your down payment. If you put 20% down, that means you’re borrowing 80% of the home’s value, so your LTV ratio is 80%.

This is important because home equity allows homeowners to be in control. It is another reason why we won’t see the housing market crash. Homeowners today have more financial strength than they have had since 1983.

For buyers (those worried about the rates), I actually think this is a great time to buy. Prices have come down and buyers no longer have to compete with multiple offers, so if you can take a leap of faith from all the fear being spewed in the media, you can find yourself owning a home.

We still have a housing shortage and when rates go down, the buyers will be back in the market, prices will go up, and it will be back to multiple offers. Those who own can simply refinance to a lower rate. Those who believe rates will go down in the next five years are getting 7-year adjustable rate mortgages, also known as ARMs.

A Day Trip To Point Reyes

About an hour and 15 minutes from Walnut Creek is Point Reyes. You take a winding road through Lucas Valley, a redwood grove, and a little town called Nicasio with a photogenic church and a local cheese stop. Eventually, you will weave your way to Point Reyes Station.

This is a great stopping point to explore the town of 500 with no free WIFI. Check out the Palace Market for picnic items or their swirl gelato ice cream cones. Before standing in line at the back of the meat counter, go to the cash register to pay for your ice cream, then get in line.

From there, head over to Point Reyes Peninsula, which is separated from the mainland by a narrow linear valley that includes Tomales Bay. This valley lies directly on the San Andreas Fault and the Peninsula rides on the eastern edge of the Pacific Plate. This area is what cause the 1906 Earthquake when the peninsula lurched 20 feet northwestward in less than a minute, compared to the average rate of yearly movement of about two inches.

Just past Inverness, we stopped by Tomales Bay State Park (no charge) and had a picnic on the beach while watching small sailboats in a regatta. Tomales Bay is a warmer and less windy spot to enjoy a warm day versus the wind, potential fog, and open face of the Pacific Ocean. Another beach on the bay is Heart’s Desire Beach, however, there are many to explore (some you drive to and some you walk in).

The next stop was the southwest end of the Peninsula, where you can find the lighthouse and visitor’s center. After parking, you get a breathtaking view of the 11 miles of Point Reyes Beach (also known as Great Beach). We even spied some blacktail deer eating along the hillside.

On this particular day, the fog swirled in and then slightly retreated. What would the Bay Area be without its famous fog? We took a leisurely stroll past cypress trees toward the visitor’s center. The lighthouse is then another 300 steps down. The observation platform gives you expansive views toward Stinson Beach and the Farallon Islands (unless, of course, there is fog – and then the foghorn will blare its warning).

The California Gold Rush transformed San Francisco, but navigating the currents, foggy conditions, jagged cliffs, and off-shore rocks of the California coastline for arriving ships was a daunting proposition. In 1853, the first lighthouse was constructed on Alcatraz Island. After the gold rush, Point Reyes became the chief supplier of dairy products and hogs to San Francisco, carried by schooners that sailed to the city from Tomales Bay and Drakes Estero.

As the importance of Point Reyes came to light, it still took more than 20 years and $100,000 to build this lighthouse, which began operation on December 1, 1870. During this time, about $1 million of shipping losses were sustained in the waters offshore of Point Reyes. It remained in operation until it was decommissioned in 1975 and was replaced by an automated beacon located in a separate building below the lighthouse, which was working loudly as a warning signal the day we explored the area.

The history and area are fascinating. I have been there three times now and there is still so much more to explore. There is a Tule Elk Reserve on the north side of the peninsula, Chimney Rock, where elephant seals breed and give birth in the winter, Abbott’s Lagoon, Bear Valley Visitor Center, hiking trails, and more hiking trails; not to mention Hog Island Oysters (see previous post), and the Cheese Trail.

A Nearly Century-Old Closing

I recently helped a client close on a lovely, 97-year-old home in Antioch. The 3-bed, 1-bath house at 315 W. 7th St. has original built-ins, original flooring, and a huge basement. There is some deferred maintenance and yard clean-up to do, but with time and money, my client plans to restore the home to its original grandeur.

My client was working with a tight budget and homes of a similar style with more modern updates were selling in the $575,000 range (the war in Ukraine, higher rates, and inflation have all shifted the market!). This home was originally listed at $499,000 but had no offers after 25 days on the market, when the price was lowered to $459,000.

About a week after that price reduction, my client saw the home and we called the listing agent to see if there was any interest. He said they had an offer, but it was low. We came back with a higher offer of $465,000. After the seller did a multiple counter to us and the other offer, we bumped up to $470,000 and won the house!

When they did inspections, we also got a $6,500 credit. There is nothing more fulfilling than helping somebody get into a home – especially one they did not think they could afford!

… and how cool is the rotary phone that when you got to chatting you could pull down a lever and sit to talk. It reminds me of old movies where the wife was chatting for hours with a neighbor.