Real Estate

Coming Soon! Beautiful Rental Off Silverado Trail

Beautiful covered, private deck with vineyard views on the east side of the valley. Ensuite 2 bedroom, 2 bath, unfurnished custom built home on a quiet, private estate. Walkable to CIA and a 5 minute drive to downtown St. Helena. Located in the desirable St. Helena School district. One story with hardwood floors, open kitchen concept with built-in gas range and oven, refrigerator, dishwasher, garbage disposal, large great room w/gas wood burning fireplace. Handicap accessible bathroom w/shower in Master suite, new carpet, central air A/C and heat, freshly painted inside and out. Drive right into attached garage w/electric garage door and walk right into your mud room with full washer/dryer. Owner/Manager on-site.

Available August 1, 2019. One Year lease: $4,500.00/month [not including gas, power and cable/internet], Includes: landscaping, water and garbage.

Click here for more information.

Compass Concierge! Easily increase your property's market value with home improvement services!

Exclusive to Compass, our Concierge program will prepare your home for the market. From deep-cleaning to cosmetic improvements, we'll work with you to assess every opportunity to elevate your home's value.

Compass will cover all upfront costs, collecting payment for the services rendered at the time of the property's closing. By investing in your home's potential, we aim to provide a swifter, more profitable sale.

Services include:
Staging

Deep-cleaning

Cosmetic renovations

Decluttering

Landscaping

Painting

Pest control

Custom closets

And More

Curious to learn more? 

Contact me to discuss how Compass Concierge could help you.

Highest Mortgage Rates in More Than 3 Weeks

Mortgage rates moved decisively higher this week as the underlying bond market finally began shifting gears.  After the Fed meeting in June, rates moved to the lowest levels in more than 2 years and had been holding in a narrow range since then.  The risks of a breakout were set to increase as the market digested several key events.  One of the most important of those events was this week's congressional testimony by Fed Chair Powell.  

Interestingly enough, Powell's testimony actually helped rates at first.  In the 2nd part of the testimony yesterday, there wasn't much of a market reaction.  Instead, it was stronger economic data and poorly received Treasury auction that pummeled the bond market.  As bonds weaken, rates rise. 

Not all lenders fully adjusted their rate sheets to reflect yesterday's market movement.  That means many lenders offered even higher rates on Friday despite the fact that the underlying bond market actually improved somewhat.  That leaves today's rates at the highest levels since before the Fed meeting on June 19th.


Loan Originator Perspective

Bond markets recovered a good portion of yesterday's pronounced losses, but we're far from out of the danger zone here.  Market sentiment has gone from bond-friendly to (at least) bond-neutral.  It's going to take a LOT to spur rates lower, and not much motivation for them to rise.  I'm locking loans closing within 45 days. -Ted Rood, Senior Originator


Today's Most Prevalent Rates

  • 30YR FIXED - 4.00%

  • FHA/VA - 3.625%

  • 15 YEAR FIXED - 3.5-3.625%

  • 5 YEAR ARMS - 3.375-3.75% depending on the lender

    Ongoing Lock/Float Considerations 

  • Early 2019 saw a rapid reevaluation of big-picture trends in rates and in markets in general

  • The Federal Reserve has been a key player, and while they aren't the ones pulling the global economic strings, their response (and even their EXPECTED response) to the economy has helped rates fall more quickly than they otherwise might.

  • Based on the Fed's laundry list of concerns, the bond market (which determines rates) will be watching economic data closely, both at home and abroad, as well as trade-related concerns. The stronger the data and trade relations, the more rates could rise, while weaker data and trade wars will lead to new long-term lows.

  • Rates discussed refer to the most frequently-quoted, conforming, conventional 30yr fixed rate for top tier borrowers among average to well-priced lenders. The rates generally assume little-to-no origination or discount except as noted when applicable. Rates appearing on this page are "effective rates" that take day-to-day changes in upfront costs into consideration.

Mortgage News Daily

4 Tips to Sell Your Home Faster

Since June of last year, we have seen an increase in the inventory of homes for sale month per month. Every spring and summer, the inventory increases because people want to sell their home. For those with children, they may want to be in their new home for the beginning of the school year.

If you are one of those sellers, you may find these 4 tips helpful in getting your home sold more quickly.

1. Make buyers feel at home

Declutter your home! Pack away all personal items like pictures, awards, and sentimental belongings. Make them feel like they belong in this house! According to the Profile of Home Staging by the National Association of Realtors,

“83% of buyers’ agents said staging a home made it easier for a buyer to visualize the property as a future home.”

Not only will your house spend less time on the market, but the same report mentioned that,

“One-quarter of buyers’ agents said that staging a home increased the dollar value offered between 1 – 5%, compared to other similar homes on the market that were not staged.”

2. Keep it organized

Since you took the time to declutter, keep it organized! Before the buyers show up, pick up toys, make the bed, and put away clean dishes. It is also a good idea to put out some cookies fresh from the oven or a scented candle. Buyers will remember the smell of your home! According to the same report, the kitchen is one of the most important rooms to stage in order to attract more buyers.

3. Give buyers full access

One of the top four elements when selling your home is access! If your home is available anytime, that opens up more opportunity to find a buyer right away. Some buyers, especially those relocating, don’t have much time available. If they cannot get into the house, they will move on to the next one.

4. Price it right

As we mentioned at the beginning, more inventory coming into the market guarantees there will be some competition. You want to make sure your home is noticed. The key to selling your house in 2019 is ensuring it is Priced to Sell Immediately (PTSI). That way, your home will be seen by the greatest amount of buyers and will sell at a great price before more competition comes to market!

Bottom Line

If you want to sell your house in the least amount of time at the best price with as little hassle as possible, a local real estate professional is a useful guide. Call me today to find out what you need to do to sell your home more quickly.

5 Powerful Reasons to Own Instead of Rent

Owning a home has great financial benefits.

In a recent research paper, Homeownership and the American Dream, Laurie S. Goodman and Christopher Mayer of the Urban Land Institute explained:

“Homeownership appears to help borrowers accumulate housing and nonhousing wealth in a variety of ways, with tax advantages, greater financial flexibility due to secured borrowing, built-in ‘default’ savings with mortgage amortization and nominally fixed payments, and the potential to lower home maintenance costs through sweat equity.”

Let’s breakdown 5 major financial benefits of homeownership:

1. Housing is typically the one leveraged investment available

Homeownership allows households to amplify any appreciation on the value of their homes by a leverage factor. A 20% down payment results in a leverage factor of five, meaning every percentage point rise in the value of your home is a 5% return on your equity. If you put down 10%, your leverage factor is 10.

Example: Let’s assume you purchased a $300,000 home and put down $60,000 (20%). If the house appreciates by $30,000, that is only a 10% increase in value but a 50% increase in equity.

2. You’re paying for housing whether you own or rent

Some argue that renting eliminates the cost of property taxes and home repairs. Every potential renter must realize that all the expenses the landlord incurs (property taxes, repairs, insurance, etc.) are baked into the rent payment already – along with a profit margin!!

3. Owning is usually a form of “forced savings”

Studies have shown that homeowners have a net worth that is 44X greater than that of a renter. As a matter of fact, it was recently estimated that a family buying an average priced home this past January could build more than $42,000 in family wealth over the next five years.

4. Owning is a hedge against inflation

House values and rents tend to go up at or higher than the rate of inflation. When you own, your home’s value will protect you from that inflation.

5. There are still substantial tax benefits to owning

We know that the new tax reform bill puts limits on some deductions on certain homes. However, in the research paper referenced above, the authors explain:

“…the mortgage interest deduction is not the main source of these gains; even if it were removed, homeowners would continue to benefit from a lack of taxation of imputed rent and capital gains.”

Bottom Line

From a financial standpoint, owning a home has always been and will always be better than renting.

What's New?! Listings! Up Valley Condominiums and Around Sylvaner Ave, St. Helena

Curious as to what Condominiums in Yountville, St. Helena or Calistoga are for sale?

Curious as to what Single Family Residencies are for sale in the Sylvaner Ave, St. Helena area?

I have created a public collections page for each! Just click the links below and send me a message if you or anyone you know is interested!

Up Valley Condominiums

Around Sylvaner Ave, St. Helena

Americans Rank Real Estate Best Investment for 6 Years Running!

Some Highlights:

  • Real estate has outranked stocks/mutual funds, gold, savings accounts/CDs, and bonds as the best long-term investment among Americans for the last 6 years.

  • Stock owners are more positive about real estate than stocks as an investment.

  • Of the 4 listed, real estate is the only investment you can also live in!

Real_Esate_Investment.jpg

Top 4 Renovations for the Greatest Return on Investment

Some Highlights:

  • If you are planning on listing your house for sale this year, these four home improvement projects will net you the most Return on Investment (ROI).

  • Minor renovations can go a long way toward improving the quality of your everyday life and/or impressing potential buyers.

  • Whether you plan to stay in your house for a long time or just a few years, it’s smart to know which home renovations add the most value.

Top_4_Renovations.jpg

Is Mortgage Debt Out Of Control?

The housing crisis of the last decade was partially caused by unhealthy levels of mortgage debt. Homeowners were using their homes as ATMs by refinancing and swapping their equity for cash.

When prices started to fall, many homeowners found themselves in a negative equity situation (where their mortgage was higher than the value of their home). As a result, they walked away. This caused prices to fall even further.

Headlines are again talking about record levels of mortgage debt, making the comparison to the challenges that preceded the housing crash. However, cumulative debt is not an important data point. If we look at the debt as a percentage of disposable personal income, we are at an all-time low.

Here’s a visual representation of mortgage debt as a percent of income:Furthermore, according to a new report from ATTOM Data Solutions, more than 1-in-4 homes with a mortgage have at least 50% equity. The report explains:

Mortgage Debt.jpg

“[O]ver 14.5 million U.S. properties were equity rich — where the combined estimated amount of loans secured by the property was 50 percent or less of the property’s estimated market value — up by more than 834,000 from a year ago to a new high as far back as data is available, Q4 2013.”

Bottom Line

Unlike 2008, homeowners have a comfortable level of mortgage debt and are sitting on massive amounts of home equity. They will not be walking away from their homes if the housing market begins to soften.

Millennials Are Increasing The Demand For Condominiums

I know a lot about the Condominiums in St. Helena and Yountville in Napa County and have seen an uptick in the interest to purchases. Condominiums are more affordable in a lot of ways which makes them a great starter home, second home or downsize.

When deciding to buy a home, people are presented with many different options. The type of home you buy depends on your needs, budget, and in many cases, the desired maintenance level. For many millennials, their choice has been buying a condominium!

According to CoreLogic,

Last year about 43% of all condo home-purchase mortgage applications were submitted by FTHBs… Similarly, the data show condos were more popular with young homebuyers and empty nesters. For instance, 21% of all condo home-purchase mortgage applications were submitted by buyers aged 18 to 30, compared with just 17% of all single-family home-purchase mortgage applications by the same group in 2018.”

With home prices increasing year-over-year, it makes sense millennials are buying condos instead of a single-family house. As a result, the demand for this type of home has been increasing.As this graph explains,

The younger millennials are the largest cohort and are likely to drive much of the condo demand in the coming years”.

millennials and condominiums.jpg

Bottom Line

If you are a millennial considering buying a home, understand that there are many options available. You may find yourself in a condominium as your first home. If you would like to determine which type of home best fits your needs, sit down with a real estate professional that can help evaluate your options! I’m happy to help if you are in northern California.

kate.spadarotto@compass.com

c. 707.321.6231

Setting Your Listing Price

If you have ever tried to sell something you understand the importance of setting the asking price. When consulting your local experienced Realtor keep these tips in mind:

  • We have calculation methods through cross market analysis of similar properties in your area and any improvements, etc you’ve made to your home.

  • Location, Location, Location: proximity to schools, town, local attractions…all of these will influence your listing price.

  • Don’t set your price too high: Across all our markets, homes selling after price reductions sell for substantially lower average dollar per square foot values, i.e. overpricing loses sellers money.

  • We have local knowledge regarding trends in the area. These elements combined with our gut instincts from being on the front lines of property transactions creates the ideal real estate team.

If you have any questions, I’m happy to help. Email me at kate.spadarotto@compass.com or call me at 707-321-6231


Safety Tips and Napa Valley Events for the 4th of July

With the 4th of July fast approaching it is always good to revisit safety tips. In our area we are not allowed to have personal fireworks for fire safety reasons. An average of 18,500 fires are caused by fireworks each year, according to the National Fire Protection Association. Such fires cause an average of three deaths, 40 injuries and $43 million in direct property damage.

Here are some standard tips to keep you and your family (including pets) safe:

  1. If you are going to be outside in the sun be sure to pack lots of water and sunscreen. Wear hats and/or sit under an umbrella if possible.

  2. Do not bring your pets if possible.

    • Lights and noise may frighten pets. Animals may fair better if kept inside during the display. Playing music or turning on the television can help distract animals from fireworks noise.

    • The noise can cause your animal to either run or possibly bite someone or another animal because they are scared. Both Animal Control and the Humane Society see an increase in lost animals around this time of year. Have your pet microchipped if you have not already. This way, if they do run away it will be easier to return them to you.

  3. Do not allow children to handle fireworks - Children younger than 15 accounted for 36% of fireworks-related injuries in 2018.

  4. Sparklers — can reach temperatures of 1,800 degrees, the city says. Don't let children play with them.

  5. Follow all local and state laws regarding the possession and use of fireworks.

    For more information, visit fireworks.com/education-and-safety/safety-tips

    Events on July 4th

    1. NAPA

      1. Napa’s 4th of July Parade & Fireworks | 2019

        Thu, 10 AM – 10 PM

        Downtown Napa Association, 1290 Napa Town Center

      2. Red, White & Rosé

        Thu, 1 – 4 PM

        850 Bordeaux Way

      3. Fourth of July Dinner & Fireworks

        Napa General Store, 540 Main St Ste 100

      AMERICAN CANYON

      1. American Canyon Fourth of July Celebration

        American Canyon Planning Department, 4381 Broadway St # 201

      ST. HELENA

      1. 4th of July Bluegrass-Fed Live Music + BBQ:

        Live music, bites and wine. Doors 5:00 PM | Show 7:00 PM

        Farmstead at Long Meadow Ranch, 738 Main St

      2. St. Helena’s 4th of July Fireworks Show | 2019

        Thu, 5:30 – 10:00 PM

        Crane Park, 360 Crane Ave

      CALISTOGA

      1. 2019 Calistoga 4th of July Parade, Star-Spangled...

        Thu, 11 AM

        N Oak St

      2. Calistoga’s Napa County Fair, Free Rides ...

        12 – 11 PM

        Napa County Fair Main Office, 1435 N Oak St

      Have a Safe and Happy 4th of July!

11 Ways to Avoid Being Scammed

There are thousands of new scams every day, trying to get your money and/or your identity. Follow these tips to help protect you and your families.

If you are involved in a Real Estate transaction be aware of wire fraud. I have a disclaimer on the bottom of my signature stating: “If you receive an email / text providing wire instructions or requesting personal financial information that appears to come from me or any Compass representative, do not respond, send or wire any funds. Instead, call me immediately. Be advised such instructions may be fraudulent. To ensure authenticity contact the escrow/title company to verify the authenticity of the wire instructions. Do not call the number provided with the wire instructions. There have been instances of wire fraud in connection with real estate transactions, observe this protocol to protect yourself.”

These other tips are very helpful and were supplied by the Better Business Bureau:

  1. Never send money to someone you have never met face-to-face. Seriously, just don’t ever do it. And really, really don’t do it if they ask you to use wire transfer, a prepaid debit card, or a gift card (those cannot be traced and are as good as cash).

  2. Don’t click on links or open attachments in unsolicited email. Links can download malware onto your computer and/or steal your identity. Be cautious even with email that looks familiar; it could be fake.

  3. Don’t believe everything you see. Scammers are great at mimicking official seals, fonts, and other details. Just because a website or email looks official does not mean that it is. Even Caller ID can be faked.

  4. Don’t buy online unless the transaction is secure. Make sure the website has “https” in the URL (the extra s is for “secure”) and a small lock icon on the address bar. Even then, the site could be shady. Check out the company first at bbb.org. Read reviews about the quality of the merchandise, and make sure you are not buying cheap and/or counterfeit goods.

  5. Be extremely cautious when dealing with anyone you’ve met online. Scammers use dating websites, Craigslist, social media, and many other sites to reach potential targets. They can quickly feel like a friend or even a romantic partner, but that is part of the con to get you to trust them.

  6. Never share personally identifiable information with someone who has contacted you unsolicited, whether it’s over the phone, by email, on social media, even at your front door. This includes banking and credit card information, your birthdate, and Social Security/Social Insurance numbers.

  7. Don’t be pressured to act immediately. Scammers typically try to make you think something is scarce or a limited time offer. They want to push you into action before you have time to think or to discuss it with a family member, friend, or financial advisor. High-pressure sales tactics are also used by some legitimate businesses, but it’s never a good idea to make an important decision quickly.

  8. Use secure, traceable transactions when making payments for goods, services, taxes, and debts. Do not pay by wire transfer, prepaid money card, gift card, or other non-traditional payment method. Say no to cash-only deals, high pressure sales tactics, high upfront payments, overpayments, and handshake deals without a contract.

  9. Whenever possible, work with local businesses that have proper identification, licensing, and insurance, especially contractors who will be coming into your home or anyone dealing with your money or sensitive information. Check them out at bbb.org to see what other consumers have experienced.

  10. Be cautious about what you share on social media and consider only connecting with people you already know. Be sure to use privacy settings on all social media and online accounts. Imposters often get information about their targets from their online interactions, and can make themselves sound like a friend or family member because they know so much about you.


Joe Montana's Rustic Ranch in Calistoga FOR SALE for $3.1M

Access to this beautiful two legal parcel site, totaling 87.25 +/- acres, is over a private gated bridge entrance. The parcels boasts spectacular vineyard views, a lake, 11 stall breezeway barn with tack room, covered arena, round pen and ranch office with arena activity viewing, bathroom and storage. Also listed as MLS #21915527

Click here for more information!

Joe Montana's Rustic Ranch in Calistoga FOR SALE for $3.1M

Access to this beautiful two legal parcel site, totaling 87.25 +/- acres, is over a private gated bridge entrance. The parcels boasts spectacular vineyard views, a lake, 11 stall breezeway barn with tack room, covered arena, round pen and ranch office with arena activity viewing, bathroom and storage. Also listed as MLS #21915527

Bloomberg's Real Estate Report-The Housing Market and Affordability

Mark Fleming, Chief Economist at First American was interviewed today on the podcast by Bloomberg Radio’s Denise Pellegrini and had positive things to say about the Housing Market. According to Mark Fleming:

  • Affordability is increasing and fastest in certain cities including but not limited to Portland, Seattle, San Francisco and Los Angeles.

  • Interest rates remain consistently low.

  • The labor market is improving.

  • Wage growth continues to grow.

  • House prices nationally, in our concept of real buying power adjusted terms, are 18% below the year 2000.

All of these bullet points bode well for millennials. We just have to be patient and allow them to get educated so they become future home owners.

15 Things to do in Napa Valley in July 2019

If you are planning on visiting the Napa Valley during the summer or fall months visit this site for a complete list which includes the following JULY events (for fees and more specific details please click on the links):