Dickson Realty Truckee, North Lake Tahoe, Plumas-Sierra Counties Newsletter - April 2015

Truckee | North Lake Tahoe | Sierra-Plumas Counties

News You Can Use April 2015 Newsletter 11836 Donner Pass Road | Truckee, CA 96161 | 800.541.4440 15947 S. Shore Drive | Truckee, CA 96161 | 530.587.4811 8912 Highway 89 | Graeagle, CA 96103 | 530.836.1700

Dickson Realty’s April 2015 Newsletter As a member of the Western Mountain Resort Alliance through our local Board of Realtors, we are able to provide real estate statistics for the seven member ski resorts in the Western United States, including our own Lake Tahoe area.

The Dickson Truckee Team 11836 Donner Pass Road | Truckee, CA 96161 | 800.541.4440

Dickson Realty’s April 2015 Newsletter

The Dickson Truckee Team 11836 Donner Pass Road | Truckee, CA 96161 | 800.541.4440

Dickson Realty’s April 2015 Newsletter

Dickson Realty’s April 2015 Newsletter

Dickson Realty’s April 2015 Newsletter

Dickson Realty’s April 2015 Newsletter What is a rate lock?

A mortgage rate lock(also called a lock-in) is a lenders promise to hold a certain interest rate at a certain number of points for you, usually for a specified period of time. It’s meant to cover you for the time period while your loan application is being processed and your preparing for the closing on the house.

What is the difference between a rate lock and a rate quote? A rate quote is simply an estimate of what your rate will be.

If interest rates change, your rate will change. Depending on where you are in the loan application process, other factors, such as income, loan to value ratio, low appraisal and your credit rating may also cause the rate to change.

Get the rate lock agreement in writing. A verbal rate lock is not binding. We will provide you a copy of the lock agreement spelling out the terms of the locked in rate (rate, days locked, fees, etc.)

Make sure the rate lock is valid for long enough to settle the loan. It will take at least 30 days to process your loan. Make sure the lock allows you ample time for settlement.

Not that a lock extension will be at a cost to the borrower. Usually between .125% and .5% of a point ( a ”point” is equal to 1% of the loan amount).

See next page

The Dickson Truckee Team 11836 Donner Pass Road | Truckee, CA 96161 | 800.541.4440

Dickson Realty’s April 2015 Newsletter

What if I choose NOT to lock?

Always remember, if you choose not to lock, you will be gambling with a volatile market.

This can mean higher interest rates, which can increase other loan costs For example: • •

You must pay more points.

You have to put more cash down. (This might occur because higher interest rates mean higher monthly payments. The lender may want more cash down in order to keep your monthly payments in line with what you can afford or what the lender will allow.)

Please call or email the Rice Team with any questions at 530-582-9991 or Team@TheRiceTeam.com

Guild Mortgage Co. is one of the fastest-growing independent mortgage banking companies in the country, generating a loan volume of $7 billion and servicing volume of $16 billion in 2014.

The Dickson Truckee Team 11836 Donner Pass Road | Truckee, CA 96161 | 800.541.4440

Dickson Realty’s April 2015 Newsletter

To be safe, you should set aside money every year — 1% to 3% of your home’s purchase price — for repairs and maintenance.

The good news is that most repairs are simple, inexpensive, and DIY friendly. If you can fix stuff yourself, you’ll only pay for the cost of materials and save a bundle on these common repairs and replacements.

Read more.

The Dickson Truckee Team 11836 Donner Pass Road | Truckee, CA 96161 | 800.541.4440

Dickson Realty’s April 2015 Newsletter SHOULD YOU FILE THAT INSURANCE CLAIM? It’s that age-old conundrum: You pay for homeowners insurance to protect yourself from financial ruin, yet filing a claim when disaster does strike puts you at risk of seeing your annual premiums increase by hundreds of dollars. Worse, either a major claim or too many claims in a given period, no matter how legitimate, could lead to losing your house’s coverage altogether.

While it can be a fine calculation to make, every time there’s damage to your property or an accident on it, you need to consider carefully whether it makes financial sense to file a claim or absorb the losses yourself.

The fates of your homeowners insurance and your bank account hang in the balance. Here’s how to do the fuzzy math.

Be mindful of deductibles, liability Most homeowners insurance policies state that any time you suffer damage to your property — whether it’s covered under the policy or not—you’re supposed to make a claim in a timely manner, says former insurance claims adjuster Jonathan G. Stein, who’s now a consumer attorney in Elk Grove, Calif. What’s timely? Typically within two weeks, possibly as long as 30 days, says Stein, except for theft claims, which insurers expect you to report within days.

That certainly works in the insurer’s favor, but not necessarily in yours. Read your policy carefully, then get repair estimates to determine if the cost to fix the problem exceeds your deductible, the amount you pay out of pocket.

Though there are a few exceptions (more on those below), always making a claim for damage that exceeds your deductible is a good rule to follow, read more…

The Dickson Truckee Team 11836 Donner Pass Road | Truckee, CA 96161 | 800.541.4440

Dickson Realty’s April 2015 Newsletter April EVENTS 1 – 2nd Annual Tahoe Regional Community Job Fair Squaw Valley, Olympic Valley Inn 3-7pm Over 300 attendees looking for summer jobs and employees in all areas of the work force.

Free to attend and exhibit.

Information: 530-452-7114 3 - First Fridays Historic Downtown Truckee, 5:30 - 8 pm Most of downtown’s unique shops, boutiques, art studios, and eateries will keep their doors open later and offer special promotions, activities, demonstrations, food and beverages, music, and more!

Participating shops and restaurants will display First Friday Flags so the public will know where the fun is.

Information: www.historictruckee.com 3 – Kid’s Night Out Tahoe Donner Clubhouse, Northwoods Boulevard 5 – 9 pm, $20 An evening of games, dinner, arts and crafts, the Friday Night Movie and even a bedtime story. Parents may enjoy a night out wile the trained staff looks after you little ones.

Space is limited. Pre-registration and payment is required at least one day in advance.

Information: 530-587-9437 The Dickson Truckee Team 11836 Donner Pass Road | Truckee, CA 96161 | 800.541.4440

Dickson Realty’s April 2015 Newsletter 4 – Sports Equipment Exchange Truckee Regional Park, 12-1pm New and used Sports equipment is handed out to youth in need of equipment in order to participate in their favorite sport(s).

Information: 530 414-3119 4 – Tahoe City's Spring Eggstravaganza & Egg Hunt Back again with the popular golden egg hunt as well as face painting, games, and more.

Commons Beach, Tahoe City 10 – 11am. Free.

5 - Pancake Breakfast Sierra Senior Center, 10040 Estates Drive, Truckee 8 to 11am, $7adults/$3 kids A fundraiser for Sierra Senior Services Information: www.sierraseniors.org 5 – Beacon and Eggs Avalanche Scavenger Hunt Alpine Meadows 9 – 10am. Free.

Dig up some colorful eggs at Alpine Meadows' two Easter egg hunts for kids and adults. Alpine also welcomes the use of technology during its sizzling Beacon and Eggs Avalanche Beacon Scavenger Hunt.

The Dickson Truckee Team 11836 Donner Pass Road | Truckee, CA 96161 | 800.541.4440

Dickson Realty’s April 2015 Newsletter 5 – Easter Sunday in the Village The Village at Northstar Day-long festivities in the Village and on the mountain with an Easter Egg Dash, complimentary face painting, balloon twisting, and various Easter crafts in the Village. Get your photo with the Easter Bunny!

Information: www.northstarcalifornia.com 15 – Truckee Chamber of Commerce Mixer Cottonwood Restaurant, Truckee 5 - 6 pm. Free Chamber Mixer with Mike Blide and new owners Robert and Kathie Green.

Chance to meet Chamber members and network within the business community.

17 –The Sustainability Film Festival and the Tahoe Water Suppliers Association present the free screening of the documentaries: Divide in Concord and Watermark.

Tahoe Center for Environmental Sciences, Room 139 Sierra Nevada College, Incline Village Doors open at 6:30pm. Free admission - light refreshments & cash bar Information: http://www.sierranevada.edu/event/sustainability-film-festival-4/

The Dickson Truckee Team 11836 Donner Pass Road | Truckee, CA 96161 | 800.541.4440

Dickson Realty’s April 2015 Newsletter 24 – Teen Art Night Nevada Museum of Art 160 W Liberty St, Reno 7 – 10pm. $5 Teens will enjoy this all-ages night featuring live music, DJ sets, a printing workshop, an interactive photo booth, button making, and more!

Information: http://www.nevadaart.org/calendar/2015/04/24/ 24 – Arts for the Schools presents: Third Coast Percussion Community Arts Center, 10046 Church Street, Truckee 7 – 9pm. $20 Adult; $10 Seniors; $5 Kids These “hard-grooving” musicians (New York Times) have become known for ground-breaking collaborations across a wide range of disciplines, including concerts and residency projects with engineers at the University of Notre Dame, architects at the Frank Lloyd Wright School of Architecture, astronomers at the Adler Planetarium, and more.

Information: www.artsfortheschools.org

Photo courtesy of Arts for the Schools

The Dickson Truckee Team 11836 Donner Pass Road | Truckee, CA 96161 | 800.541.4440