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Business News
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- Written by: Lake County News Reports
As is the case with all MABA Mixers, attendance is free and open to the general public. This is, after all, a business networking mixer.
Be sure to bring your business cards. Bring a door prize that promotes your business. The door-prize drawing will take place around the end of the first hour of the mixer.
This month, following the door-prize drawing, there will be a special e-cash presentation by Tri Counties Bank.
While this is not the first time the Langtry Estate Tasting Room has been the site of a MABA Mixer or this the first time Tri Counties Bank has done its e-cash presentation, it is the first time Tri Counties Bank has done this presentation at the Langtry Estate Tasting Room as part of a MABA Mixer. So, the event is somewhat historic in that regard.
However, that may not be the only aspect about this mixer that turns out to be historic in nature. It may be the first time MABA has invited virtual guests to a mixer at the Langtry Estate from around the world.
Plans are currrently under way to make to set up a Skype online conference. This would bring people fom Austin, TX, Atlanta, GA, Australia and New Zealand in contact with folks who attend the mixer. Believe it or not, some of these virtual guests have actually sent an audio file greeting which have been posted to an Evite online invitation encouraging local folks to attend this mixer.
If you would like to RSVP to the MABA Mixer, go to www.squidoo.com/MABA and be sure to click on the link to the Evite invitation.
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- Details
- Written by: Lake County News Reports
Home sales decreased 25,7 percent in June in Lake County compared with the same period a year ago, while the median price of a home decreased 20.4 percent, according to information gathered from the Lake County Multiple Listing Service (MLS).
“Concerns about subprime lending will be with us well into next year, but improving economic conditions should bolster consumer confidence in the economy as we move through the second half of this year,” said California Association of Realtors (C.A.R.) President Colleen Badagliacco. “However, with prices holding steady or showing marginal declines in many parts of the state, affordability will continue to be a problem even with mortgage rates that remain near historic lows. In a competitive market with a wide range of properties for sale compared with a year ago, those homes that are in top shape and are well priced are in the best position to attract buyers in today’s market.”
Closed escrow sales of homes in Lake County totaled 75 in June, according to the MLS. Countywide home resale activity decreased 25.7 percent from the 101 sales pace recorded in June 2006.
The median price of a home in Lake County during June 2007 was $269,000, a 20.4 percent decrease over the $338,000 median for June 2006 the MLS reported. The June 2007 median price decreased 10 percent compared with May’s $299,000 median price.
When viewed by the quarter the median price of a home in Lake County actually increased 3.7 percent to $280,000 in the second quarter over the first quarters $270,000 however it has decreased 11.4 percent from the same period last year.
“The long expected spring rally just didn’t happen this year,” said Phil Smoley, owner broker of CPS Country Air Properties. “However homes that are priced to reflect the market trend are the ones that are selling,” he concluded.
“The decline in sales continues to be driven by both tighter underwriting standards since the start of the year and the adverse psychological impact of news regarding foreclosures and the subprime situation,” said C.A.R. Vice President and Chief Economist Leslie Appleton-Young. “In particular, the lower end of the market – which is the part of the market that is most affected by the subprime situation – has seen greater declines in sales and weaker prices than the higher end of the market. This will likely be a recurring theme in the coming months.”
Highlights of Lake County’s housing figures for June 2007:
- Lake County’s Unsold Inventory Index for homes in June 2007 was 18.6 months, compared with 13.4 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 6.67 percent during June 2007, compared with 6.6 percent in June 2006, according to Freddie Mac. Adjustable-mortgage interest rates averaged 5.65 percent in June 2007 compared with 5.63 percent in June 2006.
- The median number of days it took to sell a single-family home was 139 days in June 2007, compared with 135 days for the same period a year ago.
| No. of Listings | Median List Price | Average DOM | No. of Sales | Median Selling Price | Average DOM to Sell | |
| ANDERSON SPRINGS | 2 | $327,000 | 122 | 0 | 0 | 0 |
| BLUE LAKES | 1 | $475,000 | 60 | 0 | 0 | 0 |
| BUCKINGHAM | 19 | $695,000 | 113 | 1 | $1,150,500 | 92 |
| C.L. OAKS | 31 | $249,000 | 86 | 4 | $220,250 | 119 |
| CLEARLAKE EAST | 76 | $238,700 | 129 | 8 | $223,000 | 191 |
| CLEARLAKE KEYS | 32 | $353,700 | 121 | 0 | 0 | 0 |
| CLEARLAKE N/NW | 55 | $210,000 | 86 | 4 | $165,000 | 145 |
| CLEARLAKE PARK | 59 | $249,000 | 139 | 2 | $237,500 | 82 |
| CLEARLAKE S/SW | 59 | $250,000 | 133 | 3 | $187,000 | 130 |
| CLR LK RIVIERA | 89 | $315,000 | 126 | 5 | $255,900 | 98 |
| COBB | 54 | $331,000 | 122 | 3 | $337,000 | 162 |
| FINLEY | 2 | $284,500 | 93 | 0 | 0 | 0 |
| GLENHAVEN | 4 | $317,500 | 133 | 2 | $317,500 | 275 |
| HIDDEN VALLEY | 198 | $379,000 | 135 | 12 | $297,500 | 106 |
| JAGO BAY | 3 | $379,000 | 63 | 0 | 0 | 0 |
| KELSEYVILLE | 38 | $399,000 | 128 | 3 | $386,000 | 131 |
| KONO TAYEE | 5 | $479,000 | 44 | 0 | 0 | 0 |
| KONOCTI BAY | 1 | $898,500 | 186 | 0 | 0 | 0 |
| LAKEPORT NORTH | 83 | $499,000 | 147 | 8 | $325,000 | 110 |
| LAKEPORT SOUTH | 30 | $416,625 | 92 | 2 | $210,000 | 79 |
| LOCH LOMOND | 6 | $241,000 | 158 | 0 | 0 | 0 |
| LOWER LAKE | 14 | $394,000 | 94 | 1 | $540,000 | 178 |
| LUCERNE | 32 | $239,000 | 110 | 5 | $167,500 | 121 |
| MIDDLETOWN | 19 | $549,500 | 168 | 1 | $1,200,000 | 69 |
| NICE | 18 | $298,000 | 160 | 7 | $218,000 | 127 |
| PARADISE COVE | 5 | $985,000 | 151 | 0 | 0 | 0 |
| PILLSBURY | 5 | $217,000 | 109 | 0 | 0 | 0 |
| RIVIERA HEIGHTS | 23 | $375,000 | 161 | 1 | $425,000 | 357 |
| RIVIERA WEST | 20 | $444,000 | 155 | 1 | $409,000 | 345 |
| SCOTT VALLEY | 3 | $1,510,000 | 131 | 0 | 0 | 0 |
| SODA BAY | 3 | $299,000 | 42 | 0 | 0 | 0 |
| SPRING VALLEY | 15 | $319,000 | 138 | 1 | $250,000 | 420 |
| UPPER LAKE | 10 | $376,750 | 71 | 0 | 0 | 0 |
| WINDFLOWER POINT | 2 | $1,872,500 | 618 | 0 | 0 | 0 |
- Details
- Written by: Editor
Case sales were up compared to January through July of 2006.
The winery produces Sauvignon Blanc, Chardonnay, Petite Sirah, Cabernet Sauvignon, Merlot, and Pinot Grigio under the Guenoc and Langtry brand names. Langtry Estate & Vineyards has broad distribution in the U.S. market with a majority of its sales based in California.
“After a very strong fourth quarter in 2006, we are pleased to announce that sales of the Guenoc and Langtry wine brands are continuing to rise, and we predict another strong year of sales growth,” said Craig Moore, Langtry sales manager. “We expanded our sales team earlier this year, and their hard work and commitment to the brand has paid off.”
Contributing to case sales, the winery recently reintroduced its top-tier Langtry line as single vineyard wines from its best estate vineyards.
The first wines released in the new Langtry line, the 2006 Lillie Sauvignon Blanc and the 2004 Serpentine Meadow Petite Sirah, were released in July.
Langtry Estate & Vineyards has extensive vineyard holdings in Lake County and is the oldest and largest winegrower in the region. The picturesque estate consists of 21,000 acres and straddles Lake and Napa counties. Vineyards are limited to 400 prime acres in both Lake and Napa counties. Guenoc wines are distributed nationally.
Additional information on the winery is available at www.langtryestate.com or by calling 987-2385.
Langtry Estate & Vineyards is located at 21000 Butts Canyon Road, Middletown.
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- Written by: Editor
The winery has seen positive recognition for its wines from Lake County and the new High Valley appellation, which proprietor Clay Shannon helped to establish.
The California State Fair wine competition judges awarded Shannon Ridge a “Best of Class and Gold Medal” award for the 2006 Sauvignon Blanc. The wine was considered the best wine from the north coast wine region, an impressive honor.
The wine has a pleasing complexity of aromas with smoky mineral notes and hints of jasmine, orange blossom, and fennel. The mouth feel is nicely balanced with refreshingly clean flavors similar to the aromas and added nuances of citrus, lilac and apricot.
Judges at the prestigious Critics Challenge wine competition, which is directed by wine writer Robert Whitley, awarded Shannon Ridge with a “Critics Platinum” for its 2005 Barbera, bringing recognition to the new High Valley appellation in Lake County.
The wine is bright, juicy, tangy and mouth-filling. Sour cherry and sweet candied fruit combine with boysenberry and blueberry to tantalize your taste buds. Barbera ripens late in the season. The ripe, balanced fruit of this Barbera's naturally high acidity has created a soft, lush wine.
For more information about Shannon Ridge, visit www.shannonridge.com or call 998-9656.
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