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Business News

Senate approves telecommunications bill for rural, low-income areas

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Written by: Editor
Published: 29 May 2008
NORTH COAST – The State Senate voted 33-0 Tuesday to approve Senate Bill 1149, legislation by Senator Patricia Wiggins (D-Santa Rosa) to continue a state grant program that provides telecommunications (new phone lines, cellular coverage, etc) to rural and low-income areas of California where these services either do not exist or are extremely limited.


Specifically, SB 1149 extends the sunset date – from Jan. 1, 2009 to Jan. 1, 2013 – for the Rural Telecommunication Infrastructure Grant Program (RTIG).


The RTIG is funded by an existing surcharge on telephone services (both residential and cellular). Without the Wiggins bill, the program will expire at the first of next year.


The RTIG was implemented in 2001 in order to ensure that all Californians – including those who are low-income and/or live in rural unserved areas – have access to telephone services. The program helps to subsidize the cost of providing telephone services to areas where none currently exist.


Many rural and low-income communities without even basic telecommunication services will continue to be deprived without an extension of the RTIG. Unserved areas on the North Coast have no access to cellular service, access to pay phones, or call boxes in populated tourist destinations such as Bodega Bay, Portuguese Beach, Sea Ranch, etc.


During peak seasons, such locations draw large crowds, and some people have drowned due to the inability of witnesses to call 911 for emergency responders. Furthermore, there are no call boxes, pay phones, or cell service coverage in many of California’s state parks and beaches.


In her testimony Tueday afternoon, Wiggins said that “this program provides a total of $10 million dollars per year, funded by the ratepayer-supported California High Cost Fund B program, to subsidize telephone service to remote, rural, and underserved communities.”


She added: “This program is particularly important in my district where many people don’t have basic telephone service, let alone cell phone service, and they need to call in an emergency situation.”


Now that SB 1149 has been approved by the Senate, the bill next heads to the Assembly for consideration.


Wiggins represents California’s 2nd Senate District, which includes portions or all of six counties: Humboldt, Lake, Mendocino, Napa, Solano and Sonoma.


For more information on SB 1149 or other legislation authored by Wiggins, please visit her Web site: http://dist02.casen.govoffice.com/.


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Real estate market showing signs of leveling

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Written by: Lake County News Reports
Published: 21 May 2008
LAKE COUNTY – Home sales decreased 11.8 percent in April in Lake County compared with the same period a year ago, while the median price of an existing home fell 30.2 percent, the Lake County Multiple Listing Service (MLS) reported.


“Sales continue to be impacted by problems in the real estate finance sector, which by some measures have eroded since the start of the year,” said California Association of Realtors President William E. Brown. “Sales in 2007 reached their peak last February; going forward, the year-to-year declines in sales should shrink.”


Closed escrow sales of homes in Lake County totaled 60 in April, up 71.4 percent over March’s 35 sales according to information collected from the MLS.


“This is the largest month to month increase in sales that we’ve seen in years,” said Phil Smoley, broker/owner of CPS Country Air Properties. “This may be the beginning of a positive turn in the market. Many agents are seeing an increase in activity as bargain hunters are cashing in on the current market.”


The median price of a home in Lake County during April was $202,450, a 30.2-percent decrease from the revised $281,975 median for April 2007, the MLS reported. The April median price fell 5.8 percent compared with March’s $215,000 median price.


“Both tighter underwriting standards and the ongoing effects of the credit/liquidity crunch continue to constrain sales,” said California Association of Realtors Vice President and Chief Economist Leslie Appleton-Young. “Historically, mortgage rates on jumbo loans are 0.2 percent to 0.4 percent higher than those on conforming loans, but the spreads in recent weeks have been as large as 2 percentage points, reflecting an increase in the perceived risk associated with these loans.


“The lack of available funds for loans, even for qualified buyers, continues to keep the demand side of the market thin, and enables buyers with financing (or all cash) to exert leverage over sellers,” she said.


Highlights of Lake County’s housing figures for April:


  • Lake County’s Unsold Inventory Index for homes in April 2008 was 19 months, compared with 18.4 months for the same period a year ago. The index indicates the number of months needed to deplete the supply of homes on the market at the current sales rate.


  • Thirty-year fixed-mortgage interest rates averaged 6.03 percent during April 2008, compared with 6.16 percent in March 2007, according to Freddie Mac. Adjustable-mortgage interest rates averaged 5.29 percent in April 2008, compared with 5.44 percent in April 2007.


  • The median number of days it took to sell a single-family home was 129 days in March 2008, compared with 139 for the same period a year ago.


For more information contact Ray Perry 707-277-8000 ext 101 or email This email address is being protected from spambots. You need JavaScript enabled to view it..


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Victorian Village officially opened

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Written by: Editor
Published: 20 May 2008

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Victorian Village is a 95-unit residential community in Lakeport, on the shores of Clear Lake, the largest natural lake in California.



LAKEPORT – More than 200 people attended the recent grand opening of Victorian Village, Lakeport’s newest residential community.


Following a traditional ribbon cutting, the guests toured the model homes and attended an old fashioned barbecue.


The 95-unit residential community is presented by Tradition Real Estate with CPS Country Air Properties handling sales and marketing.


Sales have begun for Phase I of the project, consisting of 14 home sites with individual elevations, according to John Irwin of Tradition Real Estate.


“The first three homes are finished and two have already been sold. We invite Northern California residents, especially those who appreciate Victorian architecture, to come see the model homes at 1930 S. Main Street in Lakeport,” Irwin said.


“We are excited to bring our experience in community development to Lakeport and look forward to working with interested buyers in creating the home they have been waiting for at a price and quality that can’t be beat,” he concluded.


Phil Smoley, Broker/Owner of CPS Country Air Properties said that the homes have classic elegance with a modern touch. “Each home will be individually crafted by Tradition working with the home’s buyers,” Smoley said. “The homes are energy-efficient and feature the latest in construction techniques.”


When completed, Victorian Village will have 95 single family residences with access to Clear Lake in downtown Lakeport. The homes are priced from the mid-$300,000’s and are all two-story in the Queen Anne style. Several lakefront and lagoon homes will be available during a later phase of the community’s development.


The on-site sales office is open from 11 a.m. to 5 p.m., Tuesday through Sunday, and closed Monday. For more information, contact the sales office at 707-264-4948, or CPS Country Air Properties at 707-236-2620.

 

 

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Bill Irwin of Tradition Real Estate cuts the ribbon, officially opening sales at Victorian Village, a 95-unit residential community in Lakeport.
 

 


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Lake County Winery Association hosts Bay Area hotel concierges

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Written by: Editor
Published: 10 May 2008

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Diane Millang (right), Monterey Hyatt Regency, enjoys a tasting with Tulip Hill
  1. Victorian Village grand opening is Saturday
  2. Kimberly Fordham named full-time Middletown clinic physician
  3. Real estate market proves red hot for buyers
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