Eastern Plumas & Sierra Counties Newsletter - August 2019

NEWS YOU CAN USE

AUGUST 2019 MARKET NEWSLETTER EASTERN PLUMAS & SIERRA COUNTIES

Beckwourth, Chilcoot, Clio, Graeagle-Blairsden, Loyalton, Portola & Golf Course Communities of Whitehawk, Grizzly & Gold Mtn.

Contents Portola Office Sales Statistic Reports: YTD June Sales Comparisons 2019 vs 2018

Pg. 2 3-5

Guild Mortgage Corner

6

Federal Open Market Committee Update

7

How to Avoid Moving Day Blues Real Estate Transaction End-to-End Staged Homes Sell Best

8-9 10-11 12

Calendar and Event Details

13-15

Downieville Classic Festival

16

What’s On Your Agenda

17 Dickson Portola Team 289 Commercial Street | Portola, CA 96122 | 530.832.1700

NEWS YOU CAN USE

AUGUST 2019 MARKET NEWSLETTER EASTERN PLUMAS & SIERRA COUNTIES

Beckwourth, Chilcoot, Clio, Graeagle-Blairsden, Loyalton, Portola & Golf Course Communities of Whitehawk, Grizzly & Gold Mtn.

The Dickson Realty Portola Team is always available to provide excellent and dedicated client service whether you are considering buying or selling a home. Our team of seasoned professionals, all REALTORS®, possess the most current and comprehensive market information and, combined with their knowledge and experience, they are uniquely qualified to be expert guides in your real estate venture.

Call, e-mail, visit our office, or access us on the web.

Office Phone: 530-832-1700 Email: portolainfo@dicksonrealty.com Web: www.Dicksonrealty.com

Plumas County's only city built by Western Pacific Railroad at the turn of the 20th century, the little company town of Portola has become the hub of eastern Plumas. Both the railroad and the wild and scenic Feather River pass through the middle of this small city, and a classic arched bridge spans the two and connects the north to the south side. Older homes are enjoying new facelifts, and new homes are being built in wonderful older neighborhoods, giving you housing opportunities that are almost unheard of anymore. Portola is the civic center for the east county where you will find outstanding medical services, including trauma and cardiac care, schools, a library, parks, shopping, and more.

The Dickson Realty Commitment •We will uphold the philosophy of Dickson Realty to earn the trust of our clients by providing extraordinary service and results.

•We will do our best to make the home buying or selling process as stress free and seamless as possible for our clients.

•We will assist you, through the experience and expertise of Dickson Realty, to price your home to get the highest dollar value possible.

•We will use our knowledge and expertise as licensed real estate professionals, as well as the resources of Dickson Realty, to develop an extensive marketing plan for your home.

•We will communicate with you regularly with updates on the market and feedback on showings.

•We will present all written offers and negotiate contracts in your best interest.

•We will review with you the required title reports, surveys, certifications, warranties, insurance policies and other documentation.

•We will coordinate any inspections, reports and repairs for your property.

•We will keep you informed and involved from the beginning of the acceptance of an offer to the close of escrow.

Dickson Portola Team 289 Commercial Street | Portola, CA 96122 | 530.832.1700

NEWS YOU CAN USE

AUGUST 2019 MARKET NEWSLETTER EASTERN PLUMAS & SIERRA COUNTIES

Beckwourth, Chilcoot, Clio, Graeagle-Blairsden, Loyalton, Portola & Golf Course Communities of Whitehawk, Grizzly & Gold Mtn.

The sales statistics this month are residential sales YTD June 2019 when compared to YTD June 2018, report includes Median Pricing, Lowest & Highest Sold Price, Total Units sold and Average Days on the Market.

The sales reported are for Single Family Residential and Condo/Townhouse sales in each of the areas.

(Time share and/or shared ownership are not included in the statistics presented.)

The data source is the Plumas Multiple Listing Service with data pulled on July 11, 2019 Beckwourth

BECKWOURTH * Median Sales Price Average Sold Price Lowest Sold Price Highest Sold Price Average Days on Market Homes Sold

YTD JUNE 2018 $ 320,500 $ 320,500 $ 310,000 $ 331,000 322 2

YTD JUNE 2019 $ 460,000 $ 395,000 $ 205,000 $ 520,000 154 3

% Change 44% 23% -34% 57% -52% 50%

$460,000 $395,000 $320,500

$320,500

2018

2019

YTD JUNE

YTD JUNE

Median Sales Price

Average Sold Price

Chilcoot

CHILCOOT * Median Sales Price Average Sold Price Lowest Sold Price Highest Sold Price Average Days on Market Homes Sold

YTD JUNE 2018 $ 183,750 $ 183,750 $ 150,000 $ 217,500 161 2

YTD JUNE 2019 $ 337,500 $ 337,500 $ 275,000 $ 400,000 146 2

% Change 84% 84% 83% 84% -9% 0%

$337,500

$183,750

$337,500

$183,750

2018

2019

YTD JUNE

YTD JUNE

Median Sales Price

Average Sold Price

Clio

CLIO (Whitehawk shown in Golf Community rpt.)

Median Sales Price Average Sold Price Lowest Sold Price Highest Sold Price Average Days on Market Homes Sold

YTD JUNE 2018 $ 415,000 $ 471,424 $ 190,000 $ 734,000 222 5

YTD JUNE 2019 $ 629,950 $ 743,875 $ 300,000 $ 1,417,000 162 4

% Change 52% 58% 58% 93% -27% -20%

$743,875 $629,950 $471,424

$415,000

2018

2019

YTD JUNE

YTD JUNE

Median Sales Price

Average Sold Price

Dickson Portola Team 289 Commercial Street | Portola, CA 96122 | 530.832.1700

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AUGUST 2019 MARKET NEWSLETTER EASTERN PLUMAS & SIERRA COUNTIES

Beckwourth, Chilcoot, Clio, Graeagle-Blairsden, Loyalton, Portola & Golf Course Communities of Whitehawk, Grizzly & Gold Mtn.

GRAEAGLE-BLAIRSDEN * Median Sales Price Average Sold Price Lowest Sold Price Highest Sold Price Average Days on Market Homes Sold

YTD JUNE 2018 $ 255,500 $ 269,937 $ 81,000 $ 445,000 199 32

YTD JUNE 2019 $ 330,000 $ 344,324 $ 182,500 $ 600,000 170 25

% Change 29% 28% 125% 35% -15% -22%

Graeagle-Blairsden

$344,324

$330,000 $269,937

$255,500

2018

2019

YTD JUNE

YTD JUNE

Median Sales Price

Golf Course Communities Whitehawk, Grizzly Ranch, Gold Mountain

Median Sales Price Average Sold Price Lowest Sold Price Highest Sold Price Average Days on Market Homes Sold

Average Sold Price

YTD JUNE 2018 $ 475,000 $ 573,000 $ 365,000 $ 1,133,000 173 5

YTD JUNE 2019 $ 470,000 $ 542,142 $ 312,500 $ 1,125,000 137 7

% Change -1% -5% -14% -1% -21% 40%

Golf Course Communities Whitehawk, Grizzly Ranch, Gold Mtn.

$573,000 $475,000

$542,142 $470,000

2018

2019

YTD JUNE

YTD JUNE

Median Sales Price

Average Sold Price

Dickson Portola Team 289 Commercial Street | Portola, CA 96122 | 530.832.1700

NEWS YOU CAN USE

AUGUST 2019 MARKET NEWSLETTER EASTERN PLUMAS & SIERRA COUNTIES

Beckwourth, Chilcoot, Clio, Graeagle-Blairsden, Loyalton, Portola & Golf Course Communities of Whitehawk, Grizzly & Gold Mtn.

LOYALTON

YTD JUNE 2018 $ 293,000 $ 312,250 $ 190,000 $ 442,000 74 8

* Median Sales Price Average Sold Price Lowest Sold Price Highest Sold Price Average Days on Market Homes Sold

YTD JUNE 2019 $ 255,000 $ 267,714 $ 175,000 $ 360,000 174 7

% Change -13% -14% -8% -19% 135% -13%

Loyalton

$312,250

$293,000

$267,714

$255,000

2018

2019

YTD JUNE

YTD JUNE

Median Sales Price

PORTOLA (Grizzly, Gold Mtn./ shown in Golf Community rpt.)

Median Sales Price Average Sold Price Lowest Sold Price Highest Sold Price Average Days on Market Homes Sold

Average Sold Price

YTD JUNE 2018 $ 154,000 $ 194,446 $ 81,500 $ 601,722 212 24

YTD JUNE 2019 $ 193,000 $ 217,214 $ 55,000 $ 555,000 162 35

% Change 25% 12% -33% -8% -24% 46%

Portola

$194,446

$217,214 $193,000

$154,000

2018

2019

YTD JUNE

YTD JUNE

Median Sales Price

Average Sold Price

Dickson Portola Team 289 Commercial Street | Portola, CA 96122 | 530.832.1700

NEWS YOU CAN USE

AUGUST 2019 MARKET NEWSLETTER EASTERN PLUMAS & SIERRA COUNTIES

Beckwourth, Chilcoot, Clio, Graeagle-Blairsden, Loyalton, Portola & Golf Course Communities of Whitehawk, Grizzly & Gold Mtn.

GUILD MORTGAGE CORNER You may be asking yourself, “Should I refinance my mortgage?” Homeowners should evaluate their current mortgage and see if this option makes sense, especially when market interest rates are at historic lows. Even if your current home loan payments are affordable, here are some reasons why you should consider refinancing: Save on Interest Payments You might be able to refinance your home loan to a lower interest rate than your current mortgage rate. A loan officer can help you determine whether the interest savings are enough to offset the cost of the refinanced mortgage — with a significant rate drop, you can potentially save thousands of dollars over the full term of your loan.

Going bigger?

Lower Monthly Payments Many homeowners refinance in order to ease their monthly payments. Refinancing to a lower interest rate is one way to do this, but in addition, homeowners can extend the term of their loan to reduce their monthly payments.

If you need a loan that exceeds conventional

Pay off Home Mortgage Sooner limits, here’s should know: Would you like to own your home free and clear aswhat soon asyou possible?

Consider refinancing your home to a shorter term, such as 15 years. While 15- and 30-year home loans are standard, mortgage lenders are also willing to consider other term options.

5 things to know about Jumbo loans

1. Guild’s Jumbo loans offer you up to $3M of buying power.

Increase Financial Security 2. A minimum FICO® Score of 661 is generally required.

If you have an adjustable-rate home you might want and to refinance toreserves a fixed-rate loan so that 3. loan, A 30% down payment strong cash will get you you have predictability in your budgetthe —best yourrates. mortgage payments will stay the same for the entire 4. You can expect get a Jumbo loanrates with as loan period. This is particularly helpful if you interest tolittle rise.as 5% down; ARM options

are also available.

5. These loans require more documentation, so it’s a good idea to start the loan process.

Consolidate Your Debts If you feel overloaded by high-interest debt on your credit cards or car loans, you may be able to consolidate all your debt into your mortgage payment. For example, if you have a $100,000 mortgage and $20,000 in credit card debt, you may qualify for a $120,000 mortgage and use the extra $20,000 to pay your other debt. Mortgage loans typically carry a significantly lower interest rate than consumer debt, so refinancing can help in decreasing debt more quickly.

Let’s get started

Provide Spare Cash One of the best reasons to refinance is to make home improvements or repairs. Such improvements may add to the value of your home, and you can wrap the costs into your monthly mortgage payments. Freed-up cash can also be used for other purchases or for college tuition.

Ready to explore your options? Contact The Rice Team to see if a home refinance will help you achieve your financial goals.

Katie Rice

Sales Manager NMLS ID# 308387 11050 Pioneer Trail Suite 201 Truckee, CA 96161 O: 530.582.9991 krice@guildmortgage.net Apply Online www.thericeteam.com

Dickson Portola Team

I am licensed to do business in the states of California and Nevada. Licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act; NV Broker #1141; NV Banker #1076; Guild Mortgage Company is an Equal Housing Lender; Company NMLS ID 3274 (www.nmlsconsumeraccess.org). All information, loan programs & interest rates are subject to change without notice. All loans subject to underwriter approval. Terms and conditions apply. Always consult an accountant or tax advisor for full eligibility requirements on tax deduction.

289 Commercial Street | Portola, CA 96122 | 530.832.1700

NEWS YOU CAN USE

AUGUST 2019 MARKET NEWSLETTER EASTERN PLUMAS & SIERRA COUNTIES

Beckwourth, Chilcoot, Clio, Graeagle-Blairsden, Loyalton, Portola & Golf Course Communities of Whitehawk, Grizzly & Gold Mtn.

Federal Open Market Committee (FOMC) Meeting Update FED Keeps Interest Rate Unchanged, but Hints at Possible Cuts In its fourth meeting of 2019, the Federal Open Market Committee voted to keep the federal funds rate between 2.25 and 2.5%, yet also indicated it may cut interest rates for the first time in a decade.

Though the FOMC ultimately voted to uphold the current rate, this marked the first time during Jerome H. Powell's tenure as Federal Reserve Chairman that the vote was not unanimous, with St. Louis Fed President James Bullard the lone dissenter in favor of a quarter-point rate cut.

Among the 17 policymakers that sit on the board, eight penciled in an interest rate reduction by the end of the year, while another eight predicted no change and one forecasted a hike, according to updated quarterly forecasts.

A statement announcing the Fed's decision made repeated references to economic "uncertainties," removed a previous reference to being "patient" on borrowing costs and projected a larger miss of their 2% inflation target this year - all seen as hints that the Fed may cut interest rates for the first time since the financial crisis, according to Bloomberg.

"The Committee continues to view sustained expansion of economic activity, strong labor market conditions, and inflation near the Committee's symmetric 2% objective as the most likely outcomes, but uncertainties about this outlook have increased," the statement read in part. "In light of these uncertainties and muted inflation pressures, the Committee will closely monitor the implications of incoming information for the economic outlook and will act as appropriate to sustain the expansion, with a strong labor market and inflation near its symmetric 2% objective."

The apparent shift in monetary policy is likely attributable to the prevailing economic opinion that the current trade war between the U.S. and China is slowing the economy's momentum and the belief that rates should be loosened to spur on sluggish inflation.

When those interest rate cuts could come remains to be seen, with some investors expecting the Fed to reduce rates at its next meeting in July, and others are predicting that a change won't come until at least December.

Lower Rates Could Open Up New Lending Opportunities If the prognosticators are right that rate reductions are just around the corner, it could be very good news for borrowers.

Those who hold variable-rate loans would be especially benefited by the decision. The federal funds rate strongly influences interest for personal loans, credit-card debt and variable-rate mortgages, so a lower interest rate bodes well for lower rates across the country.

A decrease in interest rates would also likely spur many consumers with fixed-rate loans to consider refinancing to take advantage of new terms.

Many Americans would be encouraged to take out new loans, as well, potentially driving an increase in home buying and other areas of the economy. Anyone applying for a mortgage or taking out a personal loan would suddenly be in a good position to leverage the lowered rates to secure a better deal for themselves.

Dickson Portola Team 289 Commercial Street | Portola, CA 96122 | 530.832.1700

NEWS YOU CAN USE

AUGUST 2019 MARKET NEWSLETTER EASTERN PLUMAS & SIERRA COUNTIES

Beckwourth, Chilcoot, Clio, Graeagle-Blairsden, Loyalton, Portola & Golf Course Communities of Whitehawk, Grizzly & Gold Mtn.

MOVING DAY BLUES! How to Avoid

You think you can wing it or DIY Ah, big mistake. Even a move across town can be very complicated, and takes extensive advance planning. There are a huge number of potential pitfalls, from the wear and tear on your poor body and damage to your household goods, to unexpected fuel costs. In the end, a do-ityourself move may not be as "cheap" or as fun as you thought (that would be about the time you drop the TV on your foot or discover the truck is fully loaded but a third of your house is still on the sidewalk). Give yourself plenty of time to research how you want to move and discover everything that's involved. Talk to friends who've moved themselves and to movers to get the full picture before you decide.

You forget about "rush hour" With almost 40 million Americans relocating each year, there can be a moving "traffic jam" certain times of the year. The most reputable movers get booked early during the late spring and summer months when half of all moving takes place, so plan ahead! You don't want your only option to be

a less experienced mover or one who has to hire temporary labor to do your job. Give yourself enough time -- 3 to 4 months before the scheduled move-in day -- to get moving estimates and referrals from several companies, to get your family on board with the idea of moving, and to plan carefully.

Ask your mover about overbooking; some make a habit of taking on too many jobs to make sure they get enough work.

You don't want to be the job they drop the day of the move.

You didn't get an estimate You don't buy a car or house without knowing its cost and the same should go for your move.

Most movers offer two kinds of estimates, binding or nonbinding.

The nonbinding kind gives you an idea of how much your move will cost, based on the mover's estimate of the size of your current home and its contents, and how far you're moving. You get the estimate in writing and can only be charged 10 percent more than the estimate. A binding estimate is a legal document that clearly describes the charges, which can't be changed unless you request significant add-on services (i.e., the movers have to climb three flights of stairs they didn't know about). Most experts recommend that you get three estimates, and ask a lot of questions about possible hidden fees. With today's sky-high gas prices, you don't want a surprise fuel surcharge to blow your budget. You also don't want to go with the cheapest bid; there is bound to be a reason that mover is cheaper, and it usually isn't a happy one.

You didn't check on insurance Whoops, that big burly man just dropped a box of your favorite Fiestaware dishes. Who is going to pay for that? Well, nobody is (or you are), if your mover doesn't have enough insurance. Find out before you start the moving process. Your chosen mover may have some insurance but it may only pay for a fraction of your heirloom dishes' or fancy TV's value. Then check with your home insurance provider to see what's covered and when and where.

Does your policy cover moving and items in transit? If you don't think you have enough coverage, moving companies offer a variety of deals on additional insurance.

Find out, too, if your chosen mover has workers' comp insurance. Some small companies (with fewer than five employees) don't, and that could mean that paying for an injury someone sustains in your home is your responsibility.

You spaced out on the nonmovables Most moving companies won't be held responsible for expensive items, like jewelry. You'll want to pack your valuables carefully and plan to transport them yourself.

The same goes for any coin collections, documents, fancy cameras -- if it's fragile or extra special to you, you'll probably want to take care of it yourself an

Dickson Portola Team 289 Commercial Street | Portola, CA 96122 | 530.832.1700

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Beckwourth, Chilcoot, Clio, Graeagle-Blairsden, Loyalton, Portola & Golf Course Communities of Whitehawk, Grizzly & Gold Mtn. keep it with you. Read your moving contract carefully to find out if your mover can transport your grill (the tank will have to be emptied by a professional first), any firearms you might own, and any alcohol. Best not to end up loading your car last minute with a full bar's worth of booze and artillery.

You forget Fido has to move too With all of the other things you're worrying about, it's easy to forget that the family pet needs to move too -- and that's one thing you can't have the movers throw in a box! Visit your vet before moving day to make sure your pet has current shots, tags, certificates, and proper identification. If your pet will be traveling by air or in a car a long distance, ask about travel recommendations, portable kennels, and motion sickness medication. Make sure you carry the animal's papers with you, especially if you cross state lines.

When you get to your final destination, reinstate your dog's routine and reward him with a special treat.

You forget plants have special needs Obviously, the inside of a van isn't conducive to plant life. Lots of movers won't handle plants, especially if you're moving more than 150 miles or crossing state lines. If plant moving gets put on your to-do list, first check with the

USDA to make sure there aren't rules about bringing plants by car into your destination state (those that have big citrus crops, for instance, may be picky about incoming plant and potential insect life). A few weeks before the move, transplant plants from your breakable pots (the movers can pack and transport those) into lighter-weight unbreakable ones that will be easier to for you to move. If it turns out you can't move your plants, donate them to friends, a botany class, or local retirement home.

You didn't clean house Face it, there are tons of things in your home that you haven't used in years. But you'll be paying to pack them up and move them, and then you'll be faced with unpacking them and finding a place where you can store them, unused, for another 10 years. Bad idea! Instead, plan a reuse, recycle, re-gift weekend where everyone in the family gets rid of the things you really don't need or use. Donate items to charity, hold a garage sale, or give furniture to the kid next door who is getting his own apartment. It'll save you time and trouble in the long run -and will prevent extra charges when your moving men stumble upon Grandma's old dining roomset hidden in the back of the garage!

You didn't pack a survival kit Smart movers make sure they have a personal survival kit that they carry with them so that movein day (and night) goes smoothly for everyone in the family. This might include must-haves such as scissors, a screwdriver, your address book, a flashlight (you never know!), a map of your new town, Johnny's can't-sleepwithout blanket or favorite jammies, your toiletries, dog food, a can opener, soap, coffee, toilet paper, and necessary medications for the whole family. Remember to have enough handy cash, too, so that you'll be able to tip your movers and pay for that pizza delivery you'll most certainly need.

You didn't look at the inventory and check it twice The inventory list is incredibly important. It's your way of checking that everything from your first home was packed up as it should be and got on the truck.

You can't watch every single item get boxed up and loaded, of course, but a perusal of the inventory document before you leave will give you some reassurance that nothing was left behind. Don't let the movers rush you through this inventory process! Check the list again as items are unloaded at your new residence. It's easier to locate a missing item the day of the move than a month later when you discover you can't find the box with your video camera and holiday tapes. Before signing off on the inventory sheet on delivery day, make sure you understand the process for filing claims for missing items.

Dickson Portola Team 289 Commercial Street | Portola, CA 96122 | 530.832.1700

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AUGUST 2019 MARKET NEWSLETTER EASTERN PLUMAS & SIERRA COUNTIES

Beckwourth, Chilcoot, Clio, Graeagle-Blairsden, Loyalton, Portola & Golf Course Communities of Whitehawk, Grizzly & Gold Mtn.

The Transaction from End to End Now that you've found the perfect home, it's time to get the deal rolling. You'll need to sign a residential purchase agreement, make an offer, possibly put down a deposit, conduct inspections and close the sale. If this all sounds overwhelming to you, don't worry; your REALTOR® will guide you through each step.

Making An Offer: Residential Purchase Agreements and Buyer Representation Agreements If you're ready to purchase the home, you must get all the details in writing. The offer begins with a written proposal spelling out your price and any stipulations regarding the purchase. If the seller has agreed to pay part of the closing costs, for example, that needs to be specified in the accepted offer. In addition, sometimes offers to purchase are contingent upon factors like the buyers' ability to obtain financing or the sellers finding housing within a certain time frame.

The residential purchase agreement contains the comprehensive terms of the deal, including sales price, deposit, closing date, disclosure requirements, inspections, and fees agreed upon by both parties. Other provisions also are included, such as the buyer's final inspection and the method by which all real estate taxes and other bills will be pro-rated between buyer and seller.

The CALIFORNIA ASSOCIATION OF REALTORS® offers its own official agreement, theC.A.R. Residential Purchase Agreement and Joint Escrow Instructions (RPA-11). This multi-functional document serves as an offer to purchase real property, a completed contract when its signed by the buyer and seller and communicat ion of acceptance is received, a receipt for good faith earnest money deposit, and more.

Summaries of the Residential Purchase Agreement are available in Spanish, Chinese, Korean, Tagalog and Vietnamese.

Another standard form produced by C.A.R. and typically used by California REALTORS®, BR-11 (Buyer Broker Representation Agreement) is an agreement between a potential buyer of real property and a real estate broker.

The agreement defines the scope of the tasks and duties to be performed by the buyer and broker leading up to the completion of a real estate sale. The form also provides a written consent to a dual agency, if one develops, and informs the buyer that the broker or agents for the broker may be working with other buyers looking for similar properties. The agreement does not, however, obligate a buyer to pay the broker for services rendered.

Even if an agreement is signed, a broker must still look to a seller or a listing broker for compensation. This form is non-exclusiv e and may be revoked at any time by either the buyer or broker. In addition, the agreement places a limit on the time within which a legal action can be brought against the broker.

There are ways for buyers to look more appealing to a seller, thereby possibly gaining a negotiating edge.

All-cash buyers and those already pre-approved for a mortgage have an advantage. In addition, sellers who are ready to move prefer buyers who don't have a present house to sell first.

An offer to purchase is often followed by a counteroffer by the seller, which can be countered again by the buyer. This is common practice as both sides attempt to negotiate an agreement that meets their individ ual needs.

Completing the residential purchase agreement is a complicated part of the transaction process that buyers shouldn't enter into without the assistance of a REALTOR®. REALTORS® have access to the standard forms needed and receive updates from their local, state and national associations on state and federal laws regulating

Dickson Portola Team 289 Commercial Street | Portola, CA 96122 | 530.832.1700

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Beckwourth, Chilcoot, Clio, Graeagle-Blairsden, Loyalton, Portola & Golf Course Communities of Whitehawk, Grizzly & Gold Mtn. agreements. REALTORS® can either answer any questions you might have or refer you to the appropriate authority.

Buyers' Up-Front Fees In conjunction with the residential purchase agreement, buyers are usually expected to put down a deposit at the beginning of the transaction. If the buyer completes the sale, this money will be credited toward the buyer's down-pay ment. If the buyer doesn't complete the sale for legal or contractual reasons, the money is typically returned. However, if the buyer doesn't complete the sale for other reasons, the seller may be entitled to keep the deposit. The U.S. Dep art men t of Ho u si n g an d Urb an Dev el o p men t (HUD) advises that deposits should be "substantial enough to demonstrate good faith," usually 1 to 5 percent of the purchase price.

Often, buyers may put up to 20 percent down.

Because buyers frequently pay for most inspections, it may be a good idea to investigate the costs of the inspections you plan to obtain before an offer is made.

Inspections and Appraisals Home inspections vary greatly. Some check the home's structure, construction and mechanical systems, and appliances, which may be transferred with the property. Although different inspectors look for and test different things and may not discover everything that is wrong with a property, obtaining inspections is the best way to become informed of necessary repairs or problems with the home. Be advised that inspectors do not assess the value of your home.

According to HUD, an inspector typically checks the electrical system, plumbing and waste disposal, the water heater, insulation and ventilation, the HVAC system, water source and quality, ceilings, walls, floors, and roof.

In addition to being inspected, the home will undergo an appraisal by a trained professional. An appraisal is an opinion of the property's value used primarily to protect the lender's interest. In contrast to home inspections, appraisals are based on past sales data, the location of the home, the size of the lot and the condition of the home. For mortgages insured through the FHA, appraisers must disclose potential problems relating to the physical condition of the home; there are no similar stipulations for non-FHA mortgages.

Closing The closing is the day you've been waiting for: when ownership of the home officially transfers from the seller to you! Prior to the closing, the escrow agent will present you with scores of legal documents to review and sign, and you'll be expected to pay your down-pay ment and closing costs. In addition, a number of other legal procedures must be completed before the sale can close, including approving the mortgage application, clearing the title, appraising the property and recording the deed.

The Real Estate Settlement Procedures Act (RESPA) provides specific protection to buyers before, during and after closing. If a settlement service has referred you to a REALTOR® with whom the service has abusiness connection, an Affiliated Business Arrangement Disclosure is required prior to closing. You're entitled to receive a preliminary copy of a HUD-1 Settlement Statement, which lists estimates of all settlement fees to be paid by buyer and seller, if you request it 24 hours before closing; the final HUD-1 Statement is a requisite part of closing.

In addition, an Initial Escrow Settlement Statement is required at closing or within 45 days of closing. This details the estimated taxes, insurance premiums and other charges that must be paid from the escrow account during the first year of the loan.

Within three days after your loan application is received, your lender must deliver or mail you a "good faith estimate" of the total amount due at closing, as well as a copy of the HUD publication Settlement Costs: A HUD Guide. Closing costs typically are comprised of attorneys' or escrow fees, property taxes, interest, loan origination fees, recording fees, survey fees, first premium of mortgage insurance, title insurance, loan discount points, first payment to escrow account, paid receipt for homeowner's insurance policy and any document ation preparation fees. F an n i e Mae estimates that most buyers' closing costs amount to 3 to 6 percent of the sales price.

Dickson Portola Team

289 Commercial Street | Portola, CA 96122 | 530.832.1700

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AUGUST 2019 MARKET NEWSLETTER EASTERN PLUMAS & SIERRA COUNTIES

Beckwourth, Chilcoot, Clio, Graeagle-Blairsden, Loyalton, Portola & Golf Course Communities of Whitehawk, Grizzly & Gold Mtn.

Dickson Portola Team 289 Commercial Street | Portola, CA 96122 | 530.832.1700

NEWS YOU CAN USE

AUGUST 2019 MARKET NEWSLETTER EASTERN PLUMAS & SIERRA COUNTIES

Beckwourth, Chilcoot, Clio, Graeagle-Blairsden, Loyalton, Portola & Golf Course Communities of Whitehawk, Grizzly & Gold Mtn.

AUGUST 2019 SUN

MON 28

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01 Downieville Classic

02 Downieville Classic

03 Western Pacific RR Celebration Downieville Classic

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14 PlumasSierra County Fair

15 PlumasSierra County Fair

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17 PlumasSierra County Fair Dinner in the Barn

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04 Western Pacific RR Celebration Downieville Classic

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Loyalton Country Market American Indian Heritage Day

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Calpine Marketplace

Loyalton Country Market

August is the eighth month of the year in the Julian and Gregorian calendars, and the fifth of seven months to have a length of 31 days. It was originally named Sextilis in Latin because it was the sixth month in the original ten-month Roman calendar under Romulus in 753 BC, and March was the first month of the year. About 700 BC, it became the eighth month when January and February were added to the year before March by King Numa Pompilius, who also gave it 29 days. Julius Caesar added two days when he created the Julian calendar in 46 BC, giving it its modern length of 31 days.

Dickson Portola Team 289 Commercial Street | Portola, CA 96122 | 530.832.1700

NEWS YOU CAN USE

AUGUST 2019 MARKET NEWSLETTER EASTERN PLUMAS & SIERRA COUNTIES

Beckwourth, Chilcoot, Clio, Graeagle-Blairsden, Loyalton, Portola & Golf Course Communities of Whitehawk, Grizzly & Gold Mtn. Date and Event August 10th September 7th September 28th October 26th

Where Held

Time

Contact or Other Information

Details

Loyalton Kiosk Across from White’s Sierra Station

10:00 am 2:00 pm

Mike Welbourne (530) 993-0453

We welcome all crafters, vendors, produce/growers, a beautiful setting for fun, relaxation and sales. Open from 10 till 2 p.m.

The produce that makes it way to the Country Market & Bazaar is FRESH & ORGANIC as are the spectacular jams & jelly’s.

• August 10th Heritage Day celebration • September 28th; Arts and Ag artists • October 26th, Pumpkin Fest

Western Pacific RR Museum Portola

10:00 am 5:00 pm

www.wplives.org (530) 832-4131

Join in the fun at the Western Pacific Celebration, August 3-4, 2019 at the Western Pacific Railroad Museum. Experience living history and special guests at the largest operating railroad museum in the Sierras. Enjoy guided tours of the museum and get a chance to ride in the cab of a working railroad locomotive.

Enter the prize raffle for a chance to win an opportunity to be an engineer for an hour. Other events to be announced soon.

Fairgrounds Quincy

All Day Events

(530) 283-6272 www.plumassierracountyfair. net

The Plumas County fair comes to town with theme: Welcome to the Neighborhood You can download the entire guide, or for those of you still on dial up, just download the section you need. Don't forget, almost all entries in Floriculture and Home Arts are FREE this year, thanks to a generous donation by the PSCF Foundation.

The exceptions are Family/Organizational Gardens and Quilts, those entry fees are listed in the exhibit guide.

COUNTRY MARKET BAZAAR MEET AND GREET August 3rd and August 4th Western Pacific Celebration

August 14th through August 18th PLUMAS COUNTY FAIR

Full service carnival provided by Wold Amusements and American Traveling Shows. Free carousel rides for everyone on August 15th !

August 17th

Sierra Valley Farms

Starting at 4:30 pm

visit: https://www.sierra valleyfarms.com/ dinner-in-the-barn/

This spectacular dinner series celebrates food, farm, and community. Featuring Executive Chef Mike Trombetta. Guest Chefs: David Holman Campo, Chef Tommy Linnett & Sean Conry. An all-inclusive 4-course meal of farm-fresh food, wine & beverage, and live music.

Fairgrounds Quincy

All day events

www.plumasamericana. com

Plumas Homegrown Americana Festival happens August 30 September 1 featuring Peter Rowan, Wendy Burch Steel Band, Newport Nightengales, Zinger Phillips Band, North Country Blue, Short People, Rock Ridge Bluegrass Band, CW Bayer & Dr Spitmore, Sourdough Slim & Robert Armstrong, Wildcat Mountain Ramblers plus Cowboy Poet Tony Argento and Square Dancing.

The price is $30 for the whole weekend if purchased before July 1 and cheap Tent and RV Camping is available too.

Dinner in the Barn August 30th through September 1st AMERICANA FESTIVAL

Dickson Portola Team 289 Commercial Street | Portola, CA 96122 | 530.832.1700

NEWS YOU CAN USE

AUGUST 2019 MARKET NEWSLETTER EASTERN PLUMAS & SIERRA COUNTIES

Beckwourth, Chilcoot, Clio, Graeagle-Blairsden, Loyalton, Portola & Golf Course Communities of Whitehawk, Grizzly & Gold Mtn.

On Going Date and Event EVERY FRIDAY THROUGH SEPTEMBER 13TH SIERRA VALLEY FARMS ROMANOS FARMER’S MARKET

Where Held

BECKWOURTH, CA

Time

10:00 AM 2:00 PM

Sierra Valley Farms is a 65-acre certified organic farm and nursery situated on the Middle Fork of the Feather River in the majestic Sierra Valley. The farm, located at 5,000 feet elevation, in Beckwourth California, has one of the most unique growing climates in the West. Sierra Valley Farms was first established as a native plant nursery in 1990 and broadened its diversity to growing certified organic produce in 1999.

Cost Contact Info.

Call (530) 832-0114 Schedule for Summer concerts and events available now on line www.sierravalleyfarms.com

Details

Romano’s Farmers Market hosts local vendors who are hand-selected for their quality and product. The market opens every Friday from 10 am-2:00 pm. and continues for 15 weeks until September 13th .

Romano’s Certified Farmers Market was voted by vendors as their “favorite” farmers market that they attend, and is considered “the most fun market” of all the farmers market rated by attendees.

We have 25 vendors; a “one-stop shop” for patrons who can get seasonal fresh fruits and vegetables, local meats, fresh fish from pacific coast, baked goods, mushrooms, condiments, wines and wine tasting, deli meats and cheese, organic milk and dairy, and many other locally crafted artisan value-added products and crafts.

The family farm is owned and operated by Gary Romano, and his dad Louis Romano. Sierra Valley Farms diverse operation includes growing and production of a wide range of cool-season vegetables and some fruits, micro greens, herbs, hops, and value-added condiments.

The farm also hosts “Dinner in the Barn” and "Blues Concert" DINNER IN THE BARN DATES FOR 2019 ARE AUGUST 17TH, AND SEPTEMBER 7TH – 4 Course Meals, beverage and live music starting at 4:30 p.m.; $130 per plate.

Every Friday Night CONCERTS IN THE PARK KICK OFF BAND RUMMY ROCK, COUNTRY & BLUES

PORTOLA CITY PARK 441 S. GULLING STREET

6:00 PM 9:00 PM

(530) 836-6811

The FREE Portola Friday night outdoor summer concerts begin July 12, 2019 and run each Friday until August 2, 2019.

Bring a lawn chair or blanket to sit and enjoy the evening of music. Beverages will be available for purchase after 5:00; food vendors will also be participating.

On August 2nd a special Mexican Fiesta is planned featuring Vicente Arreola y su Norteno Banda featuring authentic mariachi music.

Dickson Portola Team 289 Commercial Street | Portola, CA 96122 | 530.832.1700

NEWS YOU CAN USE

AUGUST 2019 MARKET NEWSLETTER EASTERN PLUMAS & SIERRA COUNTIES

Beckwourth, Chilcoot, Clio, Graeagle-Blairsden, Loyalton, Portola & Golf Course Communities of Whitehawk, Grizzly & Gold Mtn.

2019 Downieville Classic Festival Schedule of Events August 1st through August 4th THURSDAY Morning: 10am-4pm Yuba Expeditions Trail shuttles, rides and swimming Afternoon: 5-8pm 3rd Annual Volunteer/Industry Rep Trifecta Competition 5pm Cold beer and drinks for purchase plus SBTS Merch Booth open 8pm-10pm DJ Coop Music and Breakdancing Competition FRIDAY Morning: 10am-4pm Trail shuttles, rides and swimming Afternoon: 3-7pm Registration in Downieville Community Hall 5-8pm Food trucks offering delicious eats for purchase 8:00pm Santa Cruz movie night Yuba Theatre in Downieville - kicking off with premiere of Downieville- Patagonia/FreeHub feature film SATURDAY Morning: 7-9am Registration at Sierra City Community Center 7-11am Coffee, bacon, avocado, pancakes and syrup in downtown Downieville brought to you by Paul Component Engineering 9:30am Cross country race start in Sierra City 10am Downieville Classic Expo and Marketplace 12:00pm Rider food feed by Fire Dept and Beverage Garden flowing for purchase Afternoon: Sierra Buttes Trail Stewardship drawing with...

Cross Country race award ceremonies, then...

Ron's House of Adult Big Air River Jump and Cast-Off: brought to you by Shimano - approximately 3pm to 5pm Log Pull World Championship Competition - 6pm - 7pm Evening: 8:30-10:30pm Downieville dance party and live music by Mojo Green(Heavy horn funk & soul!)

SUNDAY Morning: 7-11am Coffee, bacon, avocado, pancakes and syrup in downtown Downieville brought to you by Paul Component Engineering 9:30am Downieville Downhill race start 10am Downieville Classic Expo and Marketplace Afternoon: 12:00pm Rider food feed by Fire Dept and Beverage Garden tasties flowing for purchase Sierra Buttes Trail Stewardship drawing with...

Downhill and All Mountain race award ceremonies, then...

Cozmo's Wild Island and Kids Big Air River Jump 12pm to 2pm brought to you by Clif Bar

www.downievilleclassic.com The race is sold out, but there is an abundance of spectator activities

Dickson Portola Team

289 Commercial Street | Portola, CA 96122 | 530.832.1700

NEWS YOU CAN USE

AUGUST 2019 MARKET NEWSLETTER EASTERN PLUMAS & SIERRA COUNTIES

Beckwourth, Chilcoot, Clio, Graeagle-Blairsden, Loyalton, Portola & Golf Course Communities of Whitehawk, Grizzly & Gold Mtn.

What’s On Your Agenda

Dickson Portola Team 289 Commercial Street | Portola, CA 96122 | 530.832.1700