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News

March Lake County home sales up in number, but home prices down over the year

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Written by: Lake County Association of Realtors
Published: 13 May 2024
LAKE COUNTY, Calif. — The latest report from the Lake County Association of Realtors on home sales shows that the number of homes going up for sale has risen, but home prices have softened over the past year.

Over the month of March 2024, a total of 69 single family homes were sold through the multiple listing service, compared to 55 in February and 82 sold a year ago during the month of March 2023. These include traditionally built “stick-built” houses as well as manufactured homes on land.

There were 12 sales of mobile homes in parks in March, compared to two sold in February and compared to 17 sold in March last year.

For bare land (lots and acreage) 24 were sold in March, compared to 27 sold in February, and also 27 were sold during that time period the previous year in March 2023.

There are 354 “stick built” and manufactured homes on the market right now. If the rate of sales stays the same at 69 homes sold per month, there are currently 5.13 months of inventory on the market. That means that if no new homes are brought to the market for sale, in 5.13 months, all of these homes would be sold and there would be no homes available for sale.

Less than six months of inventory is generally considered to be a “sellers’ market” while more than six months of inventory is often called a “buyers’ market.”

April’s inventory is lower than February 2024, when there were 6.1 months of inventory available. Agents are currently reporting an uptick in buyers wanting to see homes and write offers on properties.

The total percentage of homes bought for all cash in March: 22% (compared to 35% for February and 27% for a year ago in March 2023); 49% were financed by Fannie Mae or Freddie Mac (“conventional loans”) compared to 38% for February and 44% for March 2023; 12% were financed by FHA (compared to 16% in February and 11% in March 2023); 4% were financed by the VA or CalVet (compared to 2% in February and 5% for March 2023); 12% had other financing such as private loans, USDA, or seller financed notes (compared to 9% in February, and compared to 10% for March 2023).

One of the closed sales in March was reported as an assumable loan that was assumed by the buyer.

The homes in March sold at an average of 97% of the asking price at the time the property went under contract, but an average of 92% when compared to the original asking price when the property first came on the market.

This means that the asking home prices had been reduced from their original list prices before an offer was accepted.

In February, homes sold for 93.1% of the asking price at the time the property went under contract, and 87% of the original asking price.

A year ago in March, homes were selling at 97% of the asking price at the time the property went under contract and at 90% when compared to the original asking price.

The average time on the market for residential properties in March was 79 days, compared to 54 days in February and 43 days a year ago in March 2023.

The median sale price of a single family home in Lake County in March was $300,000, which is higher than the $275,000 median sale price for February but lower than the median sale price a year ago of $324,500 during March 2023.

This would indicate that in March, the higher priced homes were selling in greater numbers to bring the median sale price up compared to February.

The median asking price of homes on the market right now is $397,000, which is higher than February’s median price of $370,000.

This would indicate that more higher priced homes are hitting the market compared to lower priced homes.

Grand opening for Ely Museum's Richard Paddock Blacksmith Shop set for May 19

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Written by: Lake County News reports
Published: 13 May 2024
The Richard Paddock Blacksmith Shop will celebrate its grand opening on Sunday, May 19, 2024. Courtesy photo.

KELSEYVILLE, Calif. — A year-long project to build a historically accurate working blacksmith shop will mark its official grand opening this weekend.

The Lake County Historical Society will hold its annual member's picnic in the oak grove at the Ely Stage Stop and Country Museum beginning at noon on Sunday, May 19.

This year, the picnic will feature the opening of the museum's blacksmith shop with demonstrations.

The working blacksmith shop was the vision of Greg Dills, past museum executive director and longtime Ely Museum supporter.

Volunteers began on the building in 2018.

The project is the culmination of six years of effort, hundreds of hours of volunteer work and thousands of dollars in donations of money and materials.

Ely Museum supporters have spent years working on the blacksmith shop. Courtesy photo.


Many of those donations came from Elizabeth Paddock. The shop is named in honor of her late husband.

In the 1800s, every town in Lake County had a blacksmith shop. Without the blacksmith's wares, there would be no transportation (wagons and horse equipment), no houses (nails, hinges, etc.), no farm equipment, and very little infrastructure (roads, communication, etc.). The blacksmith shop was the hardware store of the period.

The Ely Museum is bringing a working Lake County Blacksmith Shop back to life as a window into the past.

Come out to the Historical Society Member's Picnic and watch blacksmithing in action. The picnic is free to members and $10 per person for non-members, but free if you become a member at the gate. They provide barbecue burgers and dogs, water, ice tea and coffee.

The rest is potluck style, so bring a dish to share. There will be sodas, beer and wine to buy.

The Ely Stage Stop and Country Museum is located at 9921 Soda Bay Road, just off Highway 29 between Kit's Corner and the Riviera Market.


The Kemp and Tocher blacksmith shop in Middletown, California. Courtesy photo.

US is way stingier with maternity leave and child care than the rest of the world

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Written by: Joya Misra, UMass Amherst
Published: 13 May 2024

 

Preschool today, success tomorrow. AP Photo/Elaine Thompson

In most American families led by couples, both parents are in the workforce. Almost three-quarters of American mothers with children under 18 work. At the same time, nearly 1 in 4 U.S. children are being raised by single moms.

Yet child care is generally unaffordable, and paid leave is not available to most U.S. parents.

Around the world, however, most employed women automatically get paid maternity leave. And in most wealthy countries, they also have access to affordable child care.

These holes in the U.S. safety net are a problem for many reasons, including one I’ve been researching with my colleagues for years: Paid parental leave and child care help women stay in the workforce and earn higher wages over time. This lack of parental leave and child care may explain why the U.S. is no longer a leader in women’s workforce participation.

Maternity leave

The U.S. is one of a handful of countries worldwide that doesn’t mandate paid maternity leave. The others are Papua New Guinea and some small Pacific island nations.

Paid maternity leave, which typically lasts at least three months, needs to be designed thoughtfully. When women can and do take 15 months or more off after having a baby, as they may in a few countries, long leaves can limit mothers’ work experience and lead to discrimination.

The 1993 Family and Medical Leave Act did mandate 12 weeks of unpaid leave with the ability to return to their job afterward for some American workers. Yet most families can’t forgo the income that moms bring home.

Denmark offers what I think is a strong example of a national policy.

There, moms get almost 22 weeks of paid maternity leave and dads get two weeks of paid paternity leave. On top of that, mothers can take another 19 weeks and fathers can take another 11 weeks of paid parental leave. This policy, which includes additional flexibility, grants parents both the time and resources necessary to care for children, without “mommy tracking” mothers.

Child care

In many wealthy countries, child care and preschool are considered a mainstay of the educational system. But in the U.S., only about two-thirds of all children between the ages of 3 and 6 are getting publicly supported child care of any kind, including kindergarten, versus nearly all of the kids that age in France.

High-quality early childhood education programs are associated with many excellent outcomes for children from lower-income families, including higher rates of educational attainment, employment and wages.

In other words, when governments invest in child care and maternity leave, it fosters a more productive, healthy and creative workforce.

This article, originally published April 19, 2018, was updated on May 10, 2024, with more recent data.The Conversation

Joya Misra, Provost Professor of Sociology and Public Policy, UMass Amherst

This article is republished from The Conversation under a Creative Commons license. Read the original article.

McGuire hosts wildfire preparedness town hall; communities more equipped, ready than ever

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Written by: Lake County News reports
Published: 12 May 2024


LAKE COUNTY, Calif. — In an effort to help North Coast residents kickoff National Wildfire Preparedness Month, Senate President pro Tempore Mike McGuire (D-North Coast) hosted his annual virtual Wildfire Preparedness and Prevention Town Hall with Cal Fire Director/Fire Chief Joe Tyler on Wednesday.

During the Town Hall, Senate Leader McGuire and Chief Tyler discussed how communities can best prepare for wildfire season, with summer approaching and temperatures on the rise.

The state of California has made record investments during the past several years to hire thousands of additional firefighters, expand the ground and aerial attack firefighting fleets, modernize emergency alert policies, manage changing landscapes through dead and dying tree and vegetation removal, and create new fire breaks surrounding communities.

“As fire season becomes longer and more extreme, we are taking big, bold action to better prevent and respond to wildfires,” Pro Tem McGuire said. “California is on the frontlines of our climate crisis and we are making historic investments to increase our firefighting resources and capabilities in every corner of the state. We have seen our communities devastated by wildfires over the years – we’ve seen lives lost, homes burned to the ground, and beloved communities forever changed. California is committed to ensuring lasting change through new fire prevention projects and that our communities are more equipped and prepared than ever before.”

Over the past eight years, the state has expanded Cal Fire ranks from 6,700 to 12,000 positions, including positioning a few hundred new Cal Fire and county firefighters in the North Bay and North Coast, and California will hire an additional 1,000 full-time Cal Fire firefighters over the next few years.

California also has expanded training facilities to bring on new firefighters and formerly incarcerated residents to enter the fire service, and expanded the number of new firefighting planes and helicopters.

And just last year, Pro Tem McGuire secured funding for new fire trucks, fire training facilities and equipment in all corners of the North Bay and North Coast.

In recent years, California also has treated more than 545,000 acres of California forest lands to make them more fire safe and resilient, treated 96,500 acres of wildlands with prescribed burns, and invested millions of dollars to deploy wildfire detection cameras to areas most under threat of fire danger, which aids in response to pinpointed incident locations.

“It’s never too early to start preparing for wildfire season in California,” said Cal Fire Director/Fire Chief Joe Tyler. “By taking steps now to harden homes and create defensible space, Californians can dramatically reduce their risk of fire damage. At Cal Fire, we are deploying firefighting resources throughout the state to keep families and communities safe this upcoming fire season.”

With more than 25 percent of Californians living in areas considered at risk of very high or extreme fire threat, the need to get fire-ready is more important than ever.

Click here to see tips from Cal Fire on hardening your home, creating a defensible space and more.

The recording of the town hall can be seen above.
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