Eastern Plumas & Sierra Counties Newsletter - November 218

NEWS YOU CAN USE

NOVEMBER 2018 MARKET NEWSLETTER EASTERN PLUMAS & SIERRA COUNTIES Graeagle, Portola, Loyalton, Chilcoot and Golf Course Communities

"Winter is not a season, it's a celebration."

~Anamika Mishra~

Contents

Dickson Portola and Weather Facts YTD Sales Statistics

Pg.

2 3-5

Median vs. Average Prices

6

Guild Mortgage Corner

7

Organizing Hack

8

Emergency Preparedness

9

Calendar and Event Details Proposed Resort Opening Schedule

10-12 13

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

NEWS YOU CAN USE

NOVEMBER 2018 MARKET NEWSLETTER EASTERN PLUMAS & SIERRA COUNTIES Graeagle, Portola, Loyalton, Chilcoot and Golf Course Communities

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. We are here for you 24/7.

Office Phone: 530-832-1700 Email: portolainfo@dicksonrealty.com Web: www.Dicksonrealty.com EASTERN PLUMAS Eastern Plumas County is North of Truckee and surrounded by the majestic Sierra Nevada Mountains.

Plumas County is the playground for visitors from all over Northern California, Reno, Lake Tahoe, Sacramento and the West Coast. Whether it is for a day, a weekend getaway or a week’s lodging, Plumas County offers you peace, tranquility and adventure in a wonderland of outdoor activities, sports and recreation.

Whether it is golf, hiking, biking, hunting, fishing, bird watching, photography, horseback riding, skiing, or snowmobiling, you will find your venue in Plumas County. Close to many rivers and beautiful lakes, all set in pristine forest lands, this is a wonderland for any outdoors man or avid nature lovers. There is something for everyone all year long.

Annual weather averages Portola Annual high temperature:

61.8°F

Annual low temperature:

30.4°F

Average temperature:

46.1°F

Average annual precipitation - rainfall:

23.2 inch

Av. annual snowfall:

43 inch

SIERRA COUNTIES Sierra County is located in the heart of the northern section of the Sierra Nevada. It remains today much as it was over 100 years ago when the gold-seeking argonauts worked the rivers and mountains in search of their fortune in gold. The rivers run free and the forests and meadows wrap their beauty around mountains that defy contemporary development. Sierra County has year-round recreation for every visitor, and scenery that sparkles with each new season. It is surrounded by the rugged beauty of mountain forests, lakes, and rivers.

For all its wilderness and pristine beauty, Sierra County is easily accessible year round. All major highways into the county are regularly maintained and plowed during periods of snowfall. There is something for everyone all year long.

Sunshine is delicious Rain is Refreshing Wind braces us up Snow is exhilarating There is really no such thing as bad weather, Only different kinds of good weather. ~J. Ruskin~

Annual weather averages Sierraville Annual high temperature:

62.6°F

Annual low temperature:

30.3°F

Average temperature:

46.45°F

Average annual precipitation - rainfall:

26.34 inch

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

NEWS YOU CAN USE NOVEMBER 2018 MARKET NEWSLETTER EASTERN PLUMAS & SIERRA COUNTIES Graeagle, Portola, Loyalton, Chilcoot and Golf Course Communities

The following pages provide Residential Sales Statistics for the areas of Graeagle, Portola, Loyalton, Chilcoot and the Golf Course Communities of Whitehawk, Grizzly Ranch, and Gold Mountain The sales statistics are a comparison of sales activity for the Year to Date September 2018 when compared to the same period in 2017.

Information contains Median and Average prices, Lowest and Highest Sales, the number of transactions and the % change in each category.

The sales shown are for Single Family Residential Condominiums and Townhouses in each of the market 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 October 10, 2018

Overall Market

YTD SEPT. 2017 $ 240,000 $ 293,556 $ 25,000 $ 1,100,000 187 117

Graeagle, Portola, Loyalton, Chilcoot

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

YTD SEPT. 2018 $ 250,000 $ 297,635 $ 46,400 $ 1,133,000 $ 167 $ 115

% Change 4% 1% 86% 3% -11% -2%

Overall Market $350,000 $300,000 $200,000

$297,635

$293,556

$250,000

$250,000

$240,000

$150,000 $100,000 $50,000 $2017

2018

YTD SEPT.

YTD SEPT.

Median Sales Price

Average Sold Price

The overall market remains stable with modest gains in 2018. Specific details of each market are presented on the following pages.

Dickson Realty is dedicated to helping you keep a pulse on the local market and real estate related information by providing the latest news, trends, and issues affecting the area’s real estate market.

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

NEWS YOU CAN USE NOVEMBER 2018 MARKET NEWSLETTER EASTERN PLUMAS & SIERRA COUNTIES Graeagle, Portola, Loyalton, Chilcoot and Golf Course Communities

GRAEAGLE

YTD SEPT. 2017 $ 253,500 $ 322,625 $ 25,000 $ 950,000 197 40

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

YTD SEPT 2018 $ 266,750 $ 352,829 $ 90,000 $ 1,130,000 208 38

% Change 5% 9% 260% 19% 6% -5%

GRAEAGLE

$400,000 $300,000 $200,000 $100,000 $-

$322,625 $253,500

$352,829 $266,750

2017

2018

YTD SEPT.

YTD SEPT

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 SEPT. 2017 $ 470,000 $ 561,156 $ 265,500 $ 1,100,000 258 16

YTD SEPT. 2018 $ 418,565 $ 510,604 $ 250,000 $ 1,133,000 $ 159 $ 15

% Change -11% -9% -6% 3% -38% -6%

GOLF COURSE COMMUNITIES

$600,000 $400,000

$561,156 $470,000

$510,604 $418,565

$200,000 $2017

2018

YTD SEPT.

YTD SEPT.

Median Sales Price

Average Sold Price

Dickson Portola Team

289 Commercial Street | Portola, CA 96122 | 530.832.1700

NEWS YOU CAN USE NOVEMBER 2018 MARKET NEWSLETTER EASTERN PLUMAS & SIERRA COUNTIES Graeagle, Portola, Loyalton, Chilcoot and Golf Course Communities

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

YTD SEPT 2017 $ 142,500 $ 146,400 $ 25,000 $ 380,000 194 29

YTD SEPT. 2018 $ 143,000 $ 153,058 $ 46,400 $ 285,000 $ 164 $ 34

PORTOLA % Change 0% 5% 86% -25% -15% 17%

$155,000 $150,000 $145,000 $140,000 $135,000

$153,058 $146,400 $142,500

2017

2018

YTD SEPT

YTD SEPT.

Median Sales Price

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

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

Average Sold Price

LOYALTON YTD SEPT. 2017 $ 242,500 $ 263,538 $ 60,000 $ 925,000 146 26

YTD SEPT. 2018 $ 267,500 $ 290,096 $ 57,000 $ 750,000 $ 121 $ 26

% Change 10% 10% -5% -19% -17% 0%

$300,000 $280,000 $260,000 $240,000 $220,000 $200,000

$290,096 $263,538

YTD SEPT. 2017 $ 213,500 $ 227,500 $ 165,000 $ 363,000 77 6

YTD SEPT. 2018 $ 207,500 $ 207,500 $ 150,000 $ 265,000 $ 100 $ 2

$267,500

$242,500

2017

2018

YTD SEPT.

YTD SEPT.

Median Sales Price

*

$143,000

Average Sold Price

CHILCOOT % Change -3% -9% -9% -27% 30% -67%

$230,000 $220,000 $210,000 $200,000 $190,000

$227,500 $213,500

$207,500

2017

2018

YTD SEPT.

YTD SEPT.

Median Sales Price

Average Sold Price

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

NEWS YOU CAN USE NOVEMBER 2018 MARKET NEWSLETTER EASTERN PLUMAS & SIERRA COUNTIES Graeagle, Portola, Loyalton, Chilcoot and Golf Course Communities WHAT’S THE DIFFERENCE BETWEEN AVERAGE AND MEDIAN HOUSE PRICES? When reading articles or listening to experts talk about residential property, you will come across terms likes “average” or “median” prices. These may seem like interchangeable terms, but they are in fact quite different and it’s important to understand this difference.

The best way to explain the difference between average price and median price it is to look at the example below.

The table lists 11 property sales, ranked in order from smallest to largest.

Property 1 2 3 4 5 6 7 8 9 10 11

Sales Price $410,000 $415,000 $425,000 $440,000 $445,000 $450,000 $451,000 $455,000 $460,000 $1,000,000 $1,200,000

AVERAGE SALE PRICE The average (or mean) price is calculated by adding up all of the sales and dividing them by the number of sales.

In this case, the total of all sales is $6,151,000, which, when divided by 11 sales, results in an average figure of $559,182.

MEDIAN SALES PRICE On the other hand, the median price is the sales price where half the sales are above and half the sales are below it. Basically, it’s the middle number. So in this case, the median value is property 6 – or $450,000 – because 5 sales are above it and 5 sales are below it.

WHY THE MEDIAN IS A BETTER YARDSTICK Median values tend to be a better statistical measure because they represent the figure other numbers congregate around, or in the case of our example, where most of the sales sit. This is why it is predominantly used in the residential property market where a suburb might have hundreds of sales in a year, or even thousands of properties used to calculate a yardstick value for the area.

Importantly, median values are less likely to be skewed by very high or very low sales. For instance, in our example, properties 10 and 11 are very high values in comparison with the other 9 properties – in fact, they are between 2 and 3 times more expensive. Notably, the impact of these two properties was to raise the average to over $559,000, some $109,000 or 24% higher than the median value.

289

Interestingly, if we took properties 10 and 11 out of the equation, we would end up with an alignment between a median value of $455,000 (now being property 5) and $439,000 being the adjusted average ($3,951,000 divided by 9). This is a good example of how averages can be skewed by unusually high (or low) numbers.

BENEFITS OF USING MEDIAN VALUES The big benefit of using median values is that they help give you a better sense of whether a suburb is likely to be affordable and alerts you to potential opportunities or warning signs.

For instance, if a property is priced below the median value for the area, it could mean it’s under-priced or there’s an opportunity to add value. If it’s well above the median, it could mean that the asking price is too high or there is something special about the property (like its size) that justifies the price.

In our example, there would have to be something unique or different about property 10 and 11 to explain the materially higher sales prices.

In any event, where a property’s sales price is markedly different to the median value (up or down) it’s a signal that you should question and investigate further the reasons for the difference, which will help you assess whether they are reasonable or not.

SOME WORDS OF INSIGHT As a final thought, there are two key things to watch out for when using median sales values. They can be affected by an unusually high number of expensive or cheaper properties sold during the period under review.

For this reason, it’s a good idea to measure median prices over a period of time (like 3, 6 or 12 months) to get a better sense of trends and direction.

When using median sales values, make sure you compare apples with apples. Remember, a street or suburb can be made up of different property types like houses, condos, multi-family and estates. You should therefore ensure you assess median values on the basis of the specific property type you’re interested in and not on a combined or overall basis.

Authored by: Peter Boehm, June 17, 2018 Finance Editor for Onthehouse.com.au.

Dickson Portola Team

Commercial Street | Portola, CA 96122 | 530.832.1700

NEWS YOU CAN USE NOVEMBER 2018 MARKET NEWSLETTER EASTERN PLUMAS & SIERRA COUNTIES Graeagle, Portola, Loyalton, Chilcoot and Golf Course Communities

The Changing Real Estate Market What you need to know We expect mortgage rates to continue to rise and inventory to continue decreasing, this shift has already begun. Although economists are thinking many buyers (not all) will be getting an economic boost from this year’s tax reform, we are still expecting rates to rise according to the government sponsored entities Fannie Mae and Freddie Mac who service most loans. www.MortgageNewsDaily.com is a great resource for a snapshot of current rates. Today, across the nation, rates for a fixed 30 year is high 4%’s to 5%, which is significantly higher than the beginning of the year where it was high 3%’s to lower 4%. We expect declining demand as rates continue to rise.

The increase in mortgage rates may push For-Sale inventory even lower. Rising mortgages rates present a double challenge to housing markets. On the demand side, rising rates reduce affordability. But rising rates also may have an important supply-side effect. Current homeowners who purchased or refinanced their home over the past few years may have a mortgage rate well under current rates which translates to: Why Sell?

How are home values affected by the constantly changing rates and inventory? Amid the stock market’s volatility, population growth and inflation, home buyers who are currently investing in real estate can still get good returns. According to Forbes.com “markets where home values have gained the most since the recession actually have the tightest supply right now”.

As we settle in with uncertainty for the future, now is the time to buy! Please call us with any financing questions or needs!

If you have any questions regarding loan limits, refinancing or purchasing a home, please feel free to reach out to The Rice Team.

11050 Pioneer Trail Suite 201 Truckee, CA 96161 Phone: (530) 582-9991 Fax: (530) 582-9995. Web:wwwTheRiceTeam.com

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

NEWS YOU CAN USE NOVEMBER 2018 MARKET NEWSLETTER EASTERN PLUMAS & SIERRA COUNTIES Graeagle, Portola, Loyalton, Chilcoot and Golf Course Communities 6 Creative Hacks to Put a Shoe Organizer to Work Simple over-the-door shoe organizers are brilliant hacks when it’s time to tame the clutter in your home. Bulk shoppers rejoice: You can reclaim your home from clutter with hanging shoe organizers. Sure, they’re amazing tools for wrangling homeless sneakers and ballet flats; but there’s another reason pro-organizers adore them: Their numerous cubbies are perfect for containing odds and ends that drive homeowners mad. Pick up a few of these genius inventions and let your inner neat freak take over. Here are six shoe organizer ideas to get you started. #1 Keep Bulk Buys in Check Instead of piling up towers of paper towels or toilet paper, hang a cloth shoe organizer from your basement or bathroom closet rod and store each roll in its own individual cubby to free up floor space. As a bonus, you won’t have to fumble around trying to extract a roll from its plastic covering — just open the closet, grab, and go. (This tip applies to all kinds of bulk purchases, from canned goods to seltzer water.)

#4 Feed Your Kids Tired of your little ones leaving a trail of displaced soup cans and sideways pasta boxes as they dig through the pantry in search of something to snack on? Using a shoe organizer to sort your snacks “makes it easy for kids to snag grab-and-go snacks,” like granola bars, applesauce, raisins, and juice boxes, says personal organizer MaryJo Monroe. Hang it over the pantry door for easy access. #5 Tame Winter Garb As fall becomes winter, figuring out how to keep your endless collection of mittens, gloves, and extra fluffy socks organized and accessible can be a nightmare. After a basket storage system failed to keep her family’s winter accessories under control, blogger Jamie Rannila turned to a shoe organizer — a solution that has been particularly popular with her triplets.

“This way of organizing makes it so easy for them to reach and put their items in their own compartment,” Rannila says.

#2 Corral Gift Wrap Not sure where to tuck away your collection of festive wrapping paper? Don’t waste precious floor space by stuffing those awkward tubes in a box. Use a standard over-the-door organizer to keep gift wrap in order. Reserve three rows of the organizer’s slots for the long wrapping paper tubes. The rolls will sit in the lowest one. To keep those puppies upright, attach elastic bands to the organizer, between the upper two rows of slots, and slide the tubes down through the elastic before they reach their resting place in the lower row. Make it a complete gift station by sewing a catchall bag to the bottom of the organizer for ribbon, tape, and bows.

#6 Create a One-Stop Cleaning Station Is your under-sink space cluttered with myriad sponges and half-empty spray bottles that needed to be pitched months ago? Stop digging through the dark to find the glass cleaner.

A hanging shoe organizer in your pantry can make life so much easier — just stick each product and cleaning accessory in its own pocket. Voila! No more hunching and hunting.

#3 Cut the Cord on Clutter Don’t let tangled tablet chargers and extra iPhone cords rule your home. Instead, use a shoe organizer to keep your electronic accessories out of sight and ready when you need them. Organization blogger Stefanie Sliger divided her various cables by type, stuffed each set into its own pocket, and labeled accordingly. If you have extra space, those additional pockets are perfect for batteries and lightbulbs.

© Copyright 2018 NATIONAL ASSOCIATION OF REALTORS

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

NEWS YOU CAN USE NOVEMBER 2018 MARKET NEWSLETTER EASTERN PLUMAS & SIERRA COUNTIES Graeagle, Portola, Loyalton, Chilcoot and Golf Course Communities

Emergency Preparedness: Are You Ready for a Disaster?

Here's What to Keep at Home in an Emergency Supply Kit

What Should You Keep in the Car?

Every home should have an emergency supply kit located in an accessible storage area. It's best if you store the items in plastic containers that are easy to grab and carry. Kits should be checked every six months, and expired items should be replaced to keep the kit up to date.

Emergency kits are meant to help you survive not only during an emergency, but also during the aftermath. According to a study by the Centers for Disease Control and Prevention, after a tornado in Marion, IL, 50% of the tornado-related injuries were suffered during rescue attempts, cleanup and other post-tornado activities.

Home emergency supply kits should include: •One gallon of water per person per day for at least three days •Enough nonperishable food for at least three days and a can opener; keep protein-packed foods you can cook without electricity, such as tuna, peanut butter and granola bars, and don't forget about food for your pets •Hand-crank or battery-powered radio with extra batteries to stay up to date on the latest weather alerts •Flashlight with extra batteries •First aid kit with gauze, tape, bandages, antibiotic ointment, aspirin, a blanket, nonlatex gloves, scissors, hydrocortisone, thermometer, tweezers and instant cold compress •Tool kit with basic tools, in case you need to shut off utilities •Hand sanitizer and garbage bags for sanitation •Plastic sheeting and duct tape in case of broken windows or a leaky roof •Whistle to signal for help so rescuers can locate you

Every vehicle should have an emergency supply kit located in the trunk. Kits should be checked every six months, and expired items should be replaced to keep it up to date.

Vehicle emergency supply kits should include: •A properly inflated spare tire, wheel wrench and tripod jack •Jumper cables •Tool kit and/or a multipurpose utility tool •Flashlight and extra batteries •Reflective triangles and brightly colored cloth to make your vehicle more visible •Compass •First aid kit with gauze, tape, bandages, antibiotic ointment, aspirin, a blanket, nonlatex gloves, scissors, hydrocortisone, thermometer, tweezers and instant cold compress •Nonperishable, high-energy foods, such as unsalted nuts, dried fruits and hard candy •Drinking water •Reflective vest in case you need to walk to get help •Car charger for your cell phone •Fire extinguisher •Duct tape •Rain poncho •Additional items for cold weather include a snow brush, shovel, windshield washer fluid, warm clothing, cat litter for traction and blankets It's also a good idea to keep family and emergency phone numbers, including your auto insurance provider and a towing company, in your phone.

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

NEWS YOU CAN USE NOVEMBER 2018 MARKET NEWSLETTER EASTERN PLUMAS & SIERRA COUNTIES Graeagle, Portola, Loyalton, Chilcoot and Golf Course Communities

NOVEMBER 2018 SUN

MON

TUES

WED

THUR

FRI

SAT

28

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31

01

02

03

04

05

06

07

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09

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13

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20

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ELECTION DAY

11

VETERANS DAY

18

12

VETERANS DAY OBSERVED

19

Mohawk Community Art Faire

Craft Fair Portola

Mohawk Community Art Faire

THANKSGIVING

25

26

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30

01 HOLD THE DATE Annual Graeagle Holiday Festival

02

03

04

05

06

07

08

HOLD THE DATE Portola Tree Lighting and Light Parade

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

NEWS YOU CAN USE NOVEMBER 2018 MARKET NEWSLETTER EASTERN PLUMAS & SIERRA COUNTIES Graeagle, Portola, Loyalton, Chilcoot and Golf Course Communities

.. .

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

NEWS YOU CAN USE NOVEMBER 2018 MARKET NEWSLETTER EASTERN PLUMAS & SIERRA COUNTIES Graeagle, Portola, Loyalton, Chilcoot and Golf Course Communities Date and Event

Where Held

Time

11/20 Lady Elks Craft Fair

71292 Highway 70 Portola

10:00 am 4:00 pm

11/23 and 11/24 Mohawk Community Art Faire

Graeagle Fire Hall

Friday 10 – 4 Sat. 10 – 3

12/1 Loyalton Craft Faire Graeagle Holiday Festival

Contact Info.

(530) 832-1229

Details Delight in getting your Christmas shopping done early with beautiful home made crafted items.

A DON’T MISS EVENT

The Mohawk Community Art Faire is a Graeagle holiday tradition for over 30 years. The Faire features local artists offering handmade jewelry, textiles, wood crafts, photography, knit and crochet items, body care, quality crafts and gifts. Shop local! Get your holiday shopping done early while supporting local artists and your community.

12/7 Loyalton and Portola Tree Lighting

Hold these dates; more detail to follow in December newsletter

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

NEWS YOU CAN USE NOVEMBER 2018 MARKET NEWSLETTER EASTERN PLUMAS & SIERRA COUNTIES Graeagle, Portola, Loyalton, Chilcoot and Golf Course Communities

2018 Tahoe Ski Resort Openings By Tahoe Weekly, September 10, 2018

Courtesy Mt. Rose Ski Tahoe Ski resorts throughout the Tahoe Sierra have been busy this summer preparing for the start of the 2018-19 season, with the high-elevation slopes at Mt. Rose Ski Tahoe expecting to open first on Oct. 26. Boreal usually also enjoys an October opening from its perch on Donner Summit, but has yet to release an opening date for the ski season.

Following years of investing in snowmaking at most ski resorts in the Tahoe Sierra, ski resorts have expanded the ski season with some of the region’s largest resorts eyeing a Nov. 16 opening. So, if you haven’t booked your vacation, purchased your passes or gotten your gear, what are you waiting for? Ski season is on its way.

Ski Resort Openings (updated Oct. 1, 2018) Mt. Rose | Oct. 26 Alpine Meadows | Nov. 16 Squaw Valley | Nov. 16 Heavenly | Nov. 16 Northstar | Nov. 16 Kirkwood | Nov. 21 Sugar Bowl | Nov. 30 Tahoe Donner Downhill | Dec. 7 Diamond Peak | Dec. 13

Dickson Portola Team

289 Commercial Street | Portola, CA 96122 | 530.832.1700