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That’s a Wrap! by Barry O'Meara • barryo@stearns.com


SANTA ROSA, CA. ~ As we wrap up another trip around the sun, I like to reflect upon the month’s past. Te year 2016 has been rewarding,


even though we had


ate the political mischief that plagued the air waves, Face- book, and clut- tered mail boxes. Troughout


to toler-


county progressive to live in. Our futures’ so bright we bet- ter wear shades! Home


hang and


2016 we saw re- cord low interest rates, spurred on by Brexit. We saw continued strength in the housing mar- ket, as Sonoma County median home prices inched within 3% of its high mark set in August 2005. Unemployment touched its lowest level I’ve seen in my life time.


road to recovery has been paved on solid ground. Tese values


are real and sus- tainable.


not another bub- ble.


Tis is


guidelines are strict and loans are documented to the “dime”. Sonoma County has laid the foundation to attract more businesses with higher pay- ing jobs. Te SMART train, an expanded Sonoma County Airport, wider freeways with metering lights, makes this a


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6961 Sebastopol Ave • Sebastopol • 707-829-8889 2478 W. Third 3rd St. • Santa Rosa • 707-575-9296


“I don’t write about what I know: I write in order to find out what I know.” ~ Patricia Hampl UPBEAT TIMES, INC. • December 2016 • 27 Underwrit- ing Sonoma County’s


families. It also gives us the foundation for building wealth and establishing stronger family ties. Homeown- ership binds our communities.


As we work our way through the Holidays and into


become more important. Te next generation wants


Year, family ties


to establish their own foun- dation, with their fami- lies, they might feel as


the new


is where we our hats our


raise


replacement. Tis seems like a musical chair game. We need to bring in more chairs. In addressing the needs of the Millennials, lending has cre- ated more flexible guidelines that will allow for boarder in- come, lower down payments, and acceptable “cash” deposits. Tese are big changes. Te boarder income allows a


buyer to use roommate income to help qualify.


payment, as low as 3%, makes for an alternative to FHA. Al- lowing for “cash” deposits al- lows buyers to document more available funds. Te standard guidelines require all funds used for a purchase to be sea- soned funds; meaning funds depos-


ited for at least 60 days or two bank statements.


Every generation has felt that way. Affordability seems like a moving target that is just out of reach. For all those “millenni- als”, don’t despair! Every hous- ing market and community evolves. As newer homes get built, the move-up buyers are less timid about being able to secure their next home. Tey have fear of not finding their


are being leſt behind. though they


cash, earning income in tips and working side-jobs to ac- cumulate savings. Tis is huge and will help many new home- buyers to get their foot in the door of their first home. Hopefully, interest rates will


stay at their historic lows or below 5%. New housing starts should relieve some of our in- ventory problems. Markets are always adjusting. As we travel into the new year, diligently pursue your dream of the per- fect home.


many people save in


lowing cash funds means lenders accept the fact that


Al- Lower down


UPBEAT TIMES, INC. • December 2016 • 27 Weird Facts & Fun Trivia - 6 Great Wall Facts


The official length of the Great Wall of China is 13,170.7 miles.


The Great Wall is more than 2,300 years old.


Badaling is the most visited section (63,000,000 visitors


in 2001). And in the first week of May and October, the visitor flow can be up to 70,000 per day.


Nearly 1/3 of the Great Wall has disappeared without trace.


The Great Wall is not a continuous line: there are side walls, circular walls, parallel walls, and sections with no wall (high moun- tains or rivers form a barrier instead). In the Qin Dynasty (221–206 BC), glutinous rice flour was used to bind the Great Wall bricks.


THE MORTGAGE COACH


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