Renting Vs. Buying in 2009

The California Association of Realtors analyzed the difference between renting and buying a home. C.A.R. took into consideration low home prices, favorable mortgage rates and the $8,000 first time home buyer tax credit. Based on C.A.R.s calculations and projections, the average monthly expense for a first time buyer purchasing an entry-level home would be $1,630.00. The average monthly expense of renting a three bedroom, two bath apartment would be $1,875.00.

Click here to view data C.A.R.'s data charts.

Civil War Days in Mariposa

If you're a Civil War buff, or just like the sound of guns and canons, don't miss the Las Mariposas Civil War Days, April 25th and 26th in Mariposa on Yaqui Gulch Road. Gates open at 9am. Tickets may be purchased at the gate or in advance through the Mariposa Visitors Bureau. For more information on the reenactment visit www.thecivilwardays.com.

Oakhurst Honorary Mayor Candidates Announced

Six candidates have stepped forward this year to run for the Honorary Mayor of Oakhurst. Drum roll.......and the candidates are:

• Alan King for the Wild Wonderful King Vintage Museum
• Brian Gearhart for the Eastern Madera County SPCA
• Chris Baker for the Lions Club
• Elizabeth Ware for the Boys and Girls Club of Oakhurst
• Gerald Ongman for the Sierra Senior Society
• Viviann Carlson for the Bass Lake School Education Foundation

Each candidate will spend the next three months raising campaign funds for their chosen non-profit organizations.

There will be an Honorary Mayor Race kickoff party on Tuesday, April 14th, in the Yosemite Bank parking lot from 5:30 to 7pm. Candidates will be selling dinners and desserts to jumpstart their campaigns. If you're in the neighborhood stop by and meet everyone!!

Oakhurst Branch Library Book Sale

The Friends of the Oakhurst Branch Library will be holding another book sale this weekend, April 18th, from 10am to 2pm. Prices start at just $2!! Choose from Arts & crafts, children's, classics -- some out of print, unusual cookbooks, coffee table, history, biography, collections. Some books are like new. All proceeds from the sale benefit the Oakhurst Branch Library expansion project. Join FOBL Saturday and help support our local library!!

Beware the Foreclosure Rescue Scam!!

With the recent rise in foreclosures, foreclosure-related scams have exploded onto the real estate scene. These so-called “foreclosure rescue companies” claim they will help save your home, but in reality are out to make a profit -- at your expense.

If you are at risk of or in foreclosure, you should be on the lookout for scams. Here are some red flags to watch out for:

• Asks for money upfront before providing any service
• Instructs you not to contact your lender, lawyer, housing counselor, family, friends or others.
• Asks for mortgage payments to be made directly to his or her company or bank account.
• Requires payment only in the form of cash, cashier's check or wire transfer.
• Promises to stop the foreclosure process, no matter the circumstances
• Advises you to transfer your property deed or title to his or her company
• Offers to fill out paperwork for you
• Asks for something to be done immediately and without delay. This includes pressuring you into signing paperwork that you have not had the chance to read or understand
• Encourages you to lease your house and buy it back over time
• Asks for you to give a power of attorney
• Asks for signatures on a grant deed or deed of trust
• Asks for signatures on a document that has lines left blank
• Fails to provide copies of signed documents
• Refuses or fails to put an oral promise or statement in writing

If you have been a victim of a foreclosure-related scam or approached by a scam artist you may report the incident to the following agencies:

• California Attorney General http://ag.ca.gov
• California Department of Real Estate www.dre.ca.gov
• Department of Housing and Urban Development www.hud.gov
• Federal Trade Commission www.ftc.gov
• Your local Better Business Bureau www.bbb.org

If you are at risk of foreclosure or have already received a foreclosure notice, you should contact your lender immediately.

CENTURY 21 Ditton Realty Agents Receive Top Honors for 2008 Sales

We would like to congratulate Kenneth Buller and Julie Gerken for earning the CENTURION Producer Award for their sales success in 2008. The CENTURION Producer Award honors CENTURY 21 sales associates that earn $209,000 in sales production or 60 closed transactions within a calendar year.

We would also like to recognize Alan Murray and Rene Christensen for earning the Diamond Level Masters Award for their 2008 sales. Diamond level status is awarded to agents who earn $176,000 in sales production or 50 closed transactions within a calendar year.

Kenny, Julie, Alan and Rene are all leaders and innovators in delivering powerful home buying and selling choices to their clients because they know the communities they serve. They are valued and trusted real estate resources for Eastern Madera County and major contributors to the overall success of CENTURY 21 Ditton Realty.

Well Gottshchalks...it's been fun!!

How depressing!! The signs are on all street corners being waved by Gottschalks former employees..."Gottschalks-Going Out of Business Sale". After 105 years the retailer is really and truly closing it's doors.

What will happen to the 5,200 employees who have worked horrendous hours for very little $ so we could all walk in and find a pair of Levi's, a new t-shirt or a bathroom rug? They have poured blood, sweat and tears into the company, setting up Black Friday sales at midnight the morning after Thanksgiving, unloading merchandise trucks at 3 am on Christmas Eve, pulling all-nighters doing inventory during the coldest month of the year, Haulling 50 pounds of clothing off of dressing room floors because we are too lazy to put anything away, listening to us whine that we forgot the in-store coupon that was in the morning paper, how we don't like the perfume samples that come with the monthly Gottschalks credit card statements, , and on and on and on. Now they have lost their 401K's, health insurance benefits and monthly income. If you know anyone who works for Gottschalks be sure to give them some "atta girl's" or "atta boy's" for a job well done.

Speaking as the husband of a former Gottschalks area manager, I can guarantee that despite all of the downfalls of working in retail these people most likely feel that they are not only losing a job, they are losing their family.

C.A.R. Announces Mortgage Protection for First Time Buyers

The CALIFORNIA ASSOCIATION OF REALTORS launced the C.A.R. Housing Affordability Fund Mortgage Protection Program for first-time buyers.

Through the HAFMPP, first-time home buyers who lose their jobs due to layoffs may be eligible to receive $1,500 per month, for six months, to help make their mortgage payments. A qualified co-buyer also can participate in the program, and receive a monthly benefit of $750 per month for up to six months. The program also provides benefits for accidental disability and a $10,000 death benefit. C.A.R.'s Housing Affordability Fund estimates that as many as 3,000 families will benefit from the program this year.

To qualify for the Mortgage Protection Program applicants must:

Open escrow April 2, 2009 or later and close on or before December 31, 2009
Use a California REALTOR in the transaction
Purchase the property in California
Be a w-2 employee (cannot be self-employed)

To apply for the program, home buyers must request an application for HAF Mortgage Protection Program from their REALTOR.

Mortgage Rates at Record Low for 2nd Week

30-year mortgage rates fell for the second week in a row after the Federal Reserve launched a new effort to stimulate the housing market.

Freddie Mac said Thursday that average rates on 30 -year fixed-rate mortgages dropped to 4.78% this week, down from 4.85% last week. Rates on a 15-year fixed-rate mortgage fell to 4.52%, down from 4.58% last week.

The low rates have sparked a surge in refinancing activity. Nearly 80% of applications last week came from borrowers seeking to refinance.

"The Path to Your Dreams" Sweepstakes

Brought to you by CENTURY 21!!

Enter the Path to Your Dreams Sweepstakes for a chance to win big!! One lucky winner will receive $221,000 toward the home of their dreams! Eight regional winners will receive $5,00 in cash, and there are thousands of instant prizes!! Entries must be received by May 16, 2009. For official rules and sweepstakes entry go to https://sweepstakes.century21.com.

Ronald McDonald House Fundraiser

The Sun Mountain Gun Club in Indian Lakes, Coarsegold will be hosting the 4th Annual Sporting Clays Tournament on Saturday from 8am to 2pm. All proceeds from this event benefit the Ronald McDonald House of Fresno. Call 261-3669 for details and registration or visit www.ronald-mcdonaldhouse.com.

Oakhurst Branch Library Book Sale

FOBL (Friends of the Oakhurst Branch Library) will be holding their monthly book sale this Saturday, April 4th at the Oakhurst Library from 10am to 2pm. There will be a wide variety of books available at low, low prices (childrens, travel, cook books, fiction and non fiction, best sellers and more!) All proceeds from the month FOBL book sales go toward the Oakhurst Branch Library expansion project. FOBL has been working hard to raise money to expand our town's library. Show your support and buy some books this Saturday!!

Devastating News for Gottschalks

A liquidator was the successful bidder at the Gottschalks auction in Delaware on Monday. This is tragic news for over 5,000 employees of the 105 year-old company.

The company was going to begin notifying all employees today and going-out-of-business sales are expected to begin later this week. The liquidation is expected to be complete by July.

On Wednesday an auction date is expected to be set to deal with Gottschalks real estate assets.

The liquidator is expected to identify employees it wishes to retain before the sale begins. The selected employees will remain on Gottschalks payroll throughout the liquidation process and may receive retention bonuses of up to 10% of their base pay.

C.A.R Reports Homes Sales Increase in February

The California Association of Realtors has reported that sales of existing, single family homes increased 83 percent in February compared with the same period a year ago. All C.A.R regions experienced a significant increase in home sales with the exception of the Santa Barbara South Coast, which experienced a drop of 9.4%.

California home prices dropped an average of 40.8 percent in February, bringing the statewide median price of an existing single family home down to $247,590. Average time on the market has decreased as well from 69.3 days to 51.5 days. Monterey has experienced the sharpest decline in median home prices, down to $241,130 in February compared to $619,790 just one year ago.

First time home buyers are taking advantage of low interest rates, the $8,000 tax credit and plunging home prices. Investors are also snatching up the best buys with cash and existing equity.

It's Time for a Burger!!

It's a sure sign that summer is right around the corner...Miller's Landing Resort and The Forks Resort at Bass Lake officially re-open for the season tomorrow, March 27th. Hundreds of locals will be flocking to the south shore to get their "Forks Burger" or "Miller Burger" fix after a long, dreary winter. Although the Forks has been reputed to serve the "best burger at Bass Lake", Miller's Landing has presented themselves as fierce competition for the honor. Both resorts have printed coupons in the Sierra Star. If you plan to go for your Bass Lake burger fix this weekend, be prepared to be patient. With the weather forecast calling for sunny skies and pleasant temperatures in the high 60's to low 70's there are sure to be lots of people lined up at both resorts.

After you indulge in a hefty order of burger and fries take a stroll along the shoreline. The low water level that has so many Bass Lake dock and boat slip owners concerned allows for lots of great beach. We took our dog for a hike a couple of weeks ago and it was great!!

Abraham Lincoln Exhibit coming to Oakhurst!

The Abraham Lincoln: Self Made in America Learning Exhibit is coming to Oakhurst next spring. The Wild Wonderful King Vintage Museum will be displaying the exhibit from March 5, 2010 through April 2, 2010. This exhibit is only being displayed in 4 locations throughout California and Oakhurst was one of the lucky winners! The Eastern Madera County Chamber of Commerce and the King Vintage Museum will be hosting a kick-off celebration on Abraham Lincoln's birthday in 2010. Special hours will be designated for the general public and school tours. For more information on this tremendous exhibit visit www.PresidentLincoln.org.

First Time Home Buyer Tax Credit-Is It Working?

There has been a lot of hype over the last vew months regarding the first time home buyer tax credit. Most would agree that home sales have increased significantly; however, 3 out of 4 homes sold are still foreclosure and bank-owned properties. Overall, the rate of new foreclosures has dropped. January brought a drop across the board in Notices of Default, Notices of Trustee Sale and auctions. This drop can primarily be attributed to the changes taking place with the country's lending institutions. Click here to view ForeclosureRadar's California Foreclosure Report.

FFA Dinner Dance & Auction

The FFA will be holding a dinner, dance and auction this Saturday at the Oakhurst Community Center from 5pm to 8pm. Proceeds benefit the Yosemite High School FFA. For further information contact Lynette at 559-683-4464 or LAlfaro-Souders@SierraStar.com.

Crane Valley Dam Seismic Retrofit Project

PG&E will be conducting two public meetings to discuss the Crane Valley Dam Project. The dates are:

April 1, 2009, 6 to 8 pm at the Pines Resort Lakeview Room.

April 2, 2009, 6 to 8 pm at the North Fork Town Hall.

There is growing concern among residents and business owners regarding the water level in the lake for the summer months. Although the lake will remain open for all recreational use for the duration of the project many boat docks may be rendered unusable.