Yosemite Flute and Arts Festival

Native American flute and world music festival. Live music all three days. Native American flute, world flute and art vendors, workshops, drum circle. The festival will be held at the Sierra Sky Ranch, 10 miles from Yosemite’s gate.
www.yosemiteflutefest.com

Annual Smokey Bear 10k and Fun Run

Saturday, September 24

Set among the beautiful backdrop of Bass Lake this annual event attracts over 900 participants. This year’s event proceeds will benefit the local community with proceeds going to volunteer fire departments, search and rescue teams, Sheriff’s explorer groups and the Yosemite High School cross country teams.
Registration: 6:45 a.m. – 7:45 a.m.at Recreation Point, Bass Lake.
First race begins at 7:45 a.m. sharp!
www.smokeybearrun.com

Rhonda Salisbury with the Yosemite Visitor’s Bureau reports that Tim Yount, the Chief Operating Officer of USA Triathlon, will be attending the event. Mr. Yount is the most recognizable name in the Triathlon community.

Additionally, Mark Montgomery, who competed in either 1983 or 1984 and placed 16th overall, will also attend.

The current number of participants is strong, with pre-registration continuing up until the day of the race. Early registration is recommended, as the number of participants is limited to 700.

In addition to the triathlon sprint and international distances, the Run For Our Future 5k Race is scheduled for that morning as well. Open to all ages, the run benefits The Boys and Girls Club and Yosemite High School Sports. 100% of the proceeds will go to these worthwhile organizations. Fewer runners have entered the 5k, although many are expected. Rhonda encourages those who have not yet registered to sign up to be guaranteed a T-shirt.

Viewers may observe real-time progress on the Crane Valley Dam Seismic Retrofit project 24 hours a day.  Crane Valley Dam and the accompanying quarry are visible, just as PG&E has resumed quarry blasting activities at the site.

BassLakeDamCam.com may be added to your favorites to monitor progress on the project, and for immediate weather observations.

The Crane Valley Dam was built between 1902 and 1911 before much was known about seismic activity and safety.  PG&E has determined that the Crane Valley Dam would be susceptible to seismic activity and has developed this retrofit project to address potential safety issues.

The retrofit project  is expected to be completed by spring 2012.

Click Here for the Crane Valley Seismic Retrofit archive

Here’s a 10-step home buyer’s checklist to help you keep on track toward acquiring your new home:

• Select a REALTOR®: Choose a REALTOR® to assist you through the complex process of looking for the right home, conducting neighborhood research, analyzing home prices, negotiating with sellers, signing documents, and reviewing disclosure forms,among other things.
• Get an Education: You may want to find out what first-time buyer incentive programs are available through your city and county municipalities. Often these include financial assistance for those who complete home-buying educational courses, deferred loans, and other forms of support. Your REALTOR®can help you with this information.
• Paint Your Financial Picture: You may want to obtain a copy of your credit report and credit score and attempt to resolve any errors or other credit issues that might impact your ability to obtain the best loan and interest rate possible.
• Get Pre-approved: Make an appointment to meet with a qualified local mortgage lender to determine what price range you can afford and obtain a pre-approval letter, which demonstrates your buying power.
• Find a Home: Using the services, knowledge, and expertise of a REALTOR®, establish your priorities for size, location, and style, and start shopping for a home that fits your lifestyle, budget, and long-term goals.
• Make the Offer: When you find the home that’s right for you, work with your REALTOR® to write an offer and complete a purchase agreement, detailing all of the terms and conditions of the sale between you and the seller.
• Make a Deposit: When you write an offer, you will need to provide a “good-faith” deposit showing the seller your intent to buy the home.
• Get Financing: Once you’ve selected a home and you and the seller have agreed upon a price, choose a local lender who can help you obtain a loan that best suits your immediate and long-term needs. A local lender will be knowledgeable about the area where you intend to buy.
• Hire an Inspector: A home inspection is recommended in order to reveal potential safety or other issues with the home that you may want to address before completing your purchase transaction.
• Close the Deal: Wrapping up your purchase transaction may include meeting with your REALTOR® to conduct a final walk-through of the property, signing final documents, and getting the loan funded, among other things. Courtesy of California Association of Realtors

We hope you find this information useful!

Your Bass Lake Realty Team

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Here’s what you need to know about obtaining a mortgage in today’s market:

Understand Interest Rates

Fortunately, interest rates are at their lowest levels in many years, hovering around 6 percent for a traditional 30-year, fixed rate mortgage; and about 5.55 percent for a one-year adjustable rate mortgage, or ARM. To put the numbers into perspective, interest rates are relatively close to where they were when the latest housing boom began in 2000. By contrast, they climbed as high as 9 percent during the last housing slow-down in the 1990s, and hit 12 percent in the 1980s.

Understand Points

Points are a form of pre-paid interest that you may be required to pay your lender upon the closing of your loan transaction, above your other fees and interest. There are either origination points, which cover your lender’s fees, or discount points, known as “buyback” points, which are paid in exchange for lowering your monthly interest rate. With either option, one point is equal to 1 percent of your loan amount. For example, one point on a loan for a median-priced home in California at $500,000 would equal $5,000. Points may sometimes be charged based on your credit worthiness and your debt-to-income ratio.

Get Pre-Approved

Getting pre-approved for a home loan will allow you to take a written letter of pre-approval from a lender as you shop around for your new home. The pre-approval letter may indicate to a seller that you are a serious buyer. When you go to a lender for pre-approval, you may be asked to produce income statements, and have your credit and debt information carefully scrutinized — be prepared, and collect all documents ahead of time to facilitate the process. When you are attempting to get pre-approved or apply for a mortgage, lenders will review your credit report, which provides a snapshot of your borrowing and repayment history, as well as any outstanding debt. A common credit score is also called a FICO score. (FICO stands for Fair Isaac Corp., the company that developed the scoring method.) FICO scores range from 300 to 850 points, (and are rated poor, to fair, to good, to excellent),depending on your debt load and repayment history A score closer to 850 or excellent will not only help you qualify for a loan more easily, but may lower your points and fees.
Understand Different Loans

FIXED-RATE LOAN: These loans are designed for those with solid credit histories, relatively low debt, and who plan to remain in their homes for several years. Fixed-rate loan payments are predictable and stable since the interest rate is set for the full length, or term, of the loan. Using an average fixed interest rate of 6 percent in November, a 30-year loan of $400,000, on a median-priced home at $500,000, with a down payment of 20 percent, will produce a monthly payment of $2,400.

ADJUSTABLE-RATE LOAN: Also known as an ARM loan, these are typically offered at a lower initial interest rate than traditional fixed-rate loans, and can lower your monthly payments for a specified time, which can range from a few months to a few years. Your interest rate, however, will adjust at the end of the specified time period and will readjust periodically thereafter. Depending on market conditions, the rate could be higher or lower than your initial rate. A 30-year loan of $400,000 on a median-priced home at $500,000, with a down payment of 20 percent, at an adjustable rate of 5.5 percent for the first 12 months, will produce an initial monthly payment of $2,270.

JUMBO LOAN: These loans are for buyers who need to borrow amounts greater than $417,000 for a single family home. Jumbo loans carry more risk and, in turn, often come with higher interest rates. A 30-year loan of $420,000 for a home priced at $525,000, with a down payment of 20 percent at a fixed interest rate of 6.7 percent, would produce a monthly payment of $2,710.00.

LOANS FOR FIRST-TIME BUYERS: There are several programs available that offer loan assistance options for first-time-home buyers. FHA-Insured Loans, for example, are insured by the federal government against default, and are designed to help qualified borrowers who can’t afford the down payment required by certain lenders. FHA loans provide up to approximately 97 percent financing,( meaning the buyer puts down 3 percent,) but you may be required to cover other costs, such as mortgage insurance premiums, and you’ll need to meet certain credit qualifications. VA Loans are guaranteed by the U.S. Dept. of Veterans Affairs, and offer low- to no-down payment options for qualified first-time buyers who can provide proof of military service. The minimum amount granted for a VA loan is $36,000, but this amount may be increased, depending on the borrower’s credit history. You may also want to check with your city government for referrals to local, state and federal programs that offer home buyers’ assistance for qualified buyers.

Courtesy of California Association of Realtors

Click Here to Search Current Listings in the Bass Lake California Area…

1. Interest rates on long-term, fixed, and adjustable mortgages are at historically low levels. The rate on a 30-year, fixed mortgage is hovering just below 6 percent, while, by comparison, interest rates were hitting 8 percent and higher during the last market downturn in the late 1990s, and were between 10 and 12 percent at the height of the last housing boom in the 1980s. Lower interest rates make it easier to qualify for a loan, and your monthly payments are more affordable.
2. No one can put a price on the intrinsic value of home ownership. Home prices also reflect financial worth and, the good news is, across California the median sales price for a single-family home has been consistently rising for several decades. In short, housing remains a solid, long-term financial investment. While the pace of home appreciation has slowed over the last year, historical data suggest home prices will continue to appreciate over time. The projected median home price for a single-family home in California in 2008, for example, is $553,000. By comparison, the median price in 2000 was $241,350; $193,770 in 1990, and $99,550 in 1980. (source: C.A.R.)
3. The length of time a home remains on the market before it is sold has increased from roughly two weeks in 2004 to between eight and nine weeks in 2007. According to the unsold inventory index provided by the CALIFORNIA ASSOCIATION OF REALTORS®, it would take 16.3 months to sell all the homes on the market at the current sales pace, compared with 6.4 months in 2006. With more homes on the market for longer periods of time, you have more choices when it comes to selecting a home today.
4. The multiple-offer frenzy that dominated the latest housing boom has subsided, and there is less pressure on today’s home buyers to outbid one another. REALTORS® in California reported that in 2007 only 28 percent of homes sold had multiple offers, compared with 57 percent in 2004. (source: C.A.R.)
5. The credit industry crisis that has made securing a home loan difficult for many has led to heightened scrutiny of mortgage lenders. As a result, state and federal agencies have created protections for home buyers that were not in place a year ago. The U.S. Federal Reserve, for example, has proposed a plan to require lenders to confirm a borrower’s ability to afford a mortgage before making a loan and establishing guidelines for explaining sub prime loan terms in order to better educate buyers. Many new public education and awareness campaigns, such as Freddie Mac’s “Don’t Borrow Trouble®” campaign, have been developed to help you achieve the dream of home ownership without the financial risks that led so many borrowers into trouble in recent years.

Courtesy of California Association of Realtors

Click Here to Search Bass Lake California Homes For Sale Listings…