Real Estate Information

             For taking on medical students in the rural setting, and continuing commitment to the improvement of rural medical care, the UC Davis Health System named the Tahoe Forest Health System its first, "Rural Center of Excellence" last week.

          The designation is partially owed to Tahoe Forest's addition of medical students and its willingness to embrace new  approaches to rural health care services, according to a Friday release.

           UC Davis Health System has established the Rural Centers of Excellence designation to help advance the delivery of health care in rural areas.

           "Being designated a center of excellence recognizes our long standing commitment to offer quality care for our community," said Robert Schapper, chief executive officer for the 60 year old Tahoe Forest Health System.  "One of our primary goals is to bridge the gaps in health-care services that challenge rural providers.  Whether it's linking patients to medical specialists or giving our physicians access to the latest in medical education and training, our mission is to be able to provide everything right here in our community."

           UC Davis plans to partner with other health systems around the state committed to improving rural health and willing to become teaching sites for its medical students.  Tahoe Forest System, for example, is addressing the challenges facing many rural health providers by integrating and focusing resources on the delivery of high-quality clinical care, creating a continuous learning environment for doctors, nurses and other health-care professionals and providing medical research opportunities and easier access to innovative treatments for local residents.  It is part of the UC Davis Cancer Care Network, a program which improves cancer care in rural areas through technology.  Cancer specialists from around California can quickly and easily  attain information about patients in Truckee and use that information to create a more thorough diagnosis and treatment plan, which patients previously would need to travel more than 100 miles to receive. 

 Sierra Sun reporter Kyle Magin contributed to this story.

Demand is growing for a decades-old Federal Housing Administration loan program that finances the purchase and renovation of an existing home, statistics show - a possible effect of renewed interest in the large U.S. inventory of REO and abandoned homes, according to an article in DSNews.com. The plan, known as a 203(k), lets qualifying candidates borrow a single loan with a 3.5 percent down payment to cover both the home's selling price and the cost of licensed contract work to improve the property. 

Demand

Enrollment in 203(k) loans had dropped steadily until 2007, the start of the foreclosure crisis, statistics show. The following year, 6,700 such loans were written, nearly double the 2007 totals. This year, demand is on pace to double again, with roughly 11,000 loans on the books so far.
 
Source: DSNews.com, Adam Weinstein (08/18/2009)

The percentage of households that could afford to buy an entry-level home in California stood at 67 percent in the second quarter of 2009, compared with 49 percent (revised) for the same period a year ago, according to a report released by the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.).
 

The minimum household income needed to purchase an entry-level home at $224,180 in California in the second quarter of 2009 was $39,930, based on an adjustable interest rate of 4.92 percent and assuming a 10 percent down payment.  First-time buyers typically purchase a home equal to 85 percent of the prevailing median price.  The monthly payment including taxes and insurance was $1,330 for the second quarter of 2009.

Key facts:
 
* U.S. Home values fell 12.1 percent year-over-year, marking the 10th consecutive quarter of declines, however Q2 was the first quarter where national declines are not growing.
* Total home sales fell 23.7 percent in June versus a year earlier. In the short term, total home sales rose 3.8 percent in June versus May.
* Negative equity: More than one-fifth (23 percent) of all owners of single family homes with mortgages owe more on a mortgage than their home is currently worth.
* Foreclosure re-sales made up 22 percent of all home sales in June.
* Homes sold for loss: 29.2 percent of sellers sold homes in June for less than the previous purchase price.
 
Negative equity remains high, with 23 percent of all owners of single family homes with mortgages owing more on their mortgage than their home is currently worth, relatively flat compared to 22 percent in the first quarter. Foreclosure re-sales made up more than one-fifth (22 percent) of all home sales nationally in June, and 29.2 percent of all homes sold in June were sold for less than what the owner originally paid.
 
Meanwhile, 29 percent of homeowners say they would be at least somewhat likely to put their home on the market if they see signs of a turnaround, according to Zillow's second quarter Homeowner Confidence Survey, signaling an abundance of potential shadow inventory waiting in the wings.

It often seems as though men and women are from different planets, but every day millions of couples navigate through day-to-day and even life-altering decisions. Coldwell Banker Real Estate LLC surveyed 1,000 individuals to discover how much men and women differ in the home-buying process.
 

Below are some key highlights from the Coldwell Banker Real Estate study:
 
Women may be inclined to make up their mind more quickly than men ...
* When asked how long it took before they knew their home was "right" for them, almost 70 percent of women had made up their mind the day they walked into the house, vs. 62 percent of men. Conversely, significantly more men needed two or more visits: (32 percent of men vs. 23 percent of women).
 
Women would rather live closer to their extended family than to their job ...
* 55 percent of women find it more important to be closer to their extended family (those that do not live in their household) than to their job, compared to only 37 percent of men.
 
A home's security is a deal-breaker for both men and women ...
* 64 percent of women said that if they found the home of their dreams but had concerns about its security, they would no longer be interested. More than half of men agreed (51 percent).
 
Couples say that no one "wears the pants in the relationship" in terms of major financial decisions ...
* When asked who wears the pants in the relationship (when it comes to major financial decisions, such as purchasing a home), almost 70 percent of respondents living with their significant other said it's actually mutual.
* However, 23 percent think that they, themselves, wear the pants in the relationship, not their partner. More men than women said this (26 percent vs. 20 percent, respectively).
 
Men and women agree on how they would use a spare room, for the most part ...
When the respondents were asked how they would use an extra 12 x 12 room if it could be anything they wanted, men and women agreed on the top three most popular, and very practical, responses:
* Bedroom: 25 percent
* Office/Study: 15 percent
* Family Room/Den: 11

Located in the middle of 20 fir and pine acres, having views of Northstar and Lake Innisfree, nestles a unique custom home.  Having its’ own pond constructed for bass or trout, a mother in law unit  and 3 car garage, it has the privacy and luxurious living  that is almost impossible to find in one home.  The property is traversed by a myriad of wild creatures such as coyote, deer, raccoon, lynx and overlooked by bald eagles and red tailed hawks.  To tour this property, just click:

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