Should Shasta County Restaurants Be Graded?
Uncategorized
February 4th, 2010
A local reporter blogged recently about how disgusting the health department report was for one of his favorite Redding restaurants. I blogged about a solution that would cost little or nothing for the county to implement. I believe Shasta County residents and visitors alike would benefit from this simple program already in place in many other counties across California. Here’s my September 2008 post:
As a director for the California Association of Realtors, I attend meetings three times a year in cities across the state. This is my 10th year traveling for the Shasta Association of Realtors, and one healthy practice I’ve noticed elsewhere but lacking locally, is a restaurant grading system.
How does it work? The Shasta County Environmental Health Department sets up a system of conducting a health inspection of all restaurants in the county (yes, they already do this) and issues a grade based on the inspection results (no, they don’t do this). If a restaurant achieves a 90% or better compliance (for example) with health laws regarding food handling, food safety and cleanliness, they are issued a large letter “A” on a piece of paper which they can prominently display in the window or door of the eating establishment, for all to see.
Guess what? All restaurants want to display that big letter “A” in their window. They make an extra effort to keep their place of business in order, otherwise they will loose their badge of honor. Such a simple concept, yet our local health officer has not implemented such a program. A couple of phone calls to other counties that have a program in place, by a local health department employee, would get the ball rolling for Shasta County. Is that too much to ask?
Travelers, like me, familiar with the program seek out dining establishments that passed their health inspections with flying colors. Shasta County maintains a website, as other counties do, that list the results of the most recent health inspections of area restaurants. I don’t have the time to check and re-check the website for my favorite haunts so establishing a grading system seems like a no-brainer.
Our health department head is one of the highest paid public employees at the county, earning nearly $200,000/year plus benefits. Isn’t it time to develop a simple way for all of us to know before we walk in the door of our favorite eating place how they did on their last health inspection? What do you think?
530-224-6767 or 530-941-7492
BRAD GARBUTT
Do Our Local Hospitals Use The Pronovost Checklist?
REDDING LIFESTYLES, SHASTA COUNTY
February 3rd, 2010
March 2010 Consumer Reports featured an article detailing a recent study on bloodstream infections contracted during hospital stays. A simple checklist system, called the Pronovost checklist, has been found to dramatically reduce infection rates when implemented and followed by caregivers.
One key element allows nurses to make doctors follow all the steps without fear of retaliation. Have our local hospitals adopted the recommendations of this simple procedure?
Only 27 states have laws that require hospitals disclose their infection rates. The good news is many hospitals have reduced central line infections to zero. However, one New York City hospital had an infection rate nearly 400% above average!
Here is a summary of what the checklist requires of caregivers:
- Wash their hands using soap and water or alcohol gel before and after examining a patient, inserting the catheter, and replacing, accessing, repairing, and dressing the catheter.
- Disinfect the patient’s skin with an appropriate antiseptic before inserting the catheter and during dressing changes.
- Use full-barrier precautions by using a mask, cap, sterile gown, and sterile gloves when inserting the catheter. Also, the patient should be covered by a large sterile sheet.
- Don’t place the catheter in the groin area. This area is difficult to keep clean.
- Remove unnecessary catheters. Evaluate daily whether any tubes or catheters can be removed if they are no longer essential.
Since all hospitals have not adopted this practice, family members or friends should take this list along and ask whether the hospital uses it. If you have a choice in selecting the hospital for care, check if they publish their infection rates and go to the hospital with the lowest rate.
530-224-6767 or 530-941-7492
BRAD GARBUTT
REALTOR/BROKER ASSOCIATE
REAL LIVING REAL ESTATE PROFESSIONALS
CORNER OF COURT AND PLACER IN REDDING
MORE THAN A QUARTER CENTURY LOCAL SALES EXPERIENCE
Why Are there Fewer Homes For Sale in Shasta County?
INDUSTRY NEWS, SHASTA COUNTY
February 2nd, 2010
![santacruz-103[1]](http://movetoredding.com/files/2009/11/santacruz-1031-300x199.jpg)
California’s Unsold Inventory Index declined to 3. 8 months in December compared to 5.6 months in December 2008. This index is an important barometer of the overall condition of the real estate market because it indicates how long it would take to deplete the supply of homes for sale at the current sales pace.
Economists believe the reason for the sharp decline is due to “discretionary sellers” exiting the marketplace. These are homeowners that do not have to sell their homes and have decided to wait out the market on the sidelines hoping for better times. Some believe this low inventory level is only temporary-expecting a significant rise as banks list more foreclosures for sale.
Looking back, the bottom seems to have been August of 2007 for home sales though the median price did not hit bottom statewide until a year ago. Since then, home prices in California have actually risen 8.45% to a median price of $306,820. This period also has seen 10 consecutive months of price increases. Redding has not followed suit due to high unemployment and lack of equity refugees relocating from urban areas.
Here is a snapshot of the local real estate market:
- The inventory of homes available for sale on the Shasta MLS today is 14% less than a year ago.
- The number of homes in escrow is 27% higher than last year at this time.
- 111 homes have closed escrow thus far for 2010.
- 100 homes in escrow are bank-owned and 172 active listings are bank foreclosures.
More rigorous loan underwriting rules take effect at the end of March that could disqualify many local prospective home buyers. Time will tell if this has a negative impact on the number of homes for sale locally.
530-224-6767 or 530-941-7492
BRAD GARBUTT
REALTOR/BROKER ASSOCIATE
REAL LIVING REAL ESTATE PROFESSIONALS
CORNER OF COURT AND PLACER IN REDDING
MORE THAN A QUARTER CENTURY LOCAL SALES EXPERIENCE
Know An FHA Borrower Struggling With Mortgage Payments?
FHA LOANS, REAL ESTATE LEGISLATION, TIPS FOR SELLERS
February 1st, 2010
President Obama signed into law a program to assist FHA borrowers experiencing financial hardship before they fall behind in payments. The Helping Families Save Their Home ACT of 2009 grants FHA broader authority to hopefully prevent FHA borrowers from slipping into foreclosure. Prior to this law taking effect, borrowers had to be behind in payments before seeking loss mitigation assistance. Late payments usually cause an immediate drop in credit scores which then can trigger credit card issuers to raise interest rates.
FHA sees this new program as a win-win for borrowers who get to keep their home and FHA protects their insurance fund from unnecessary losses. Here are some additional details:
- A borrower considered “facing imminent default” is one that is current on payments or less than 30 days late but has experienced a significant reduction in income or some other hardship that will prevent making future payments in a timely fashion
- Allows for a forbearance agreement to be created that allows the loan servicer to postpone, reduce or suspend payments due on a loan for a specific amount of time
- Allows qualified borrowers to reduce their payments permanently through an interest rate reduction or loan reamortization to an affordable level by using a portion of their insurance with a loan modification. Principal deferred becomes an interest free subordinate loan which is repaid once the first loan is paid off
The hardship must be documented by the borrower to the loan servicers satisfaction. The cause of hardship may include one or more of the following:
- Unemployment, reduced job hours, reduced pay, or a decline in business for self-employed would all be considered as reasons for loan modification. A scheduled temporary shutdown of the employer would not be reason enough to qualify for a loan modification
- Death in the family, permanent or short term disability or serious illness qualify as hardships
The loan servicer makes the final decision. If you know someone struggling to make house payments, ask them if they have an FHA loan. If so, direct them to HUD’s website or contact me for further information.
530-224-6767 or 530-941-7492
BRAD GARBUTT
REALTOR/BROKER ASSOCIATE
REAL LIVING REAL ESTATE PROFESSIONALS
CORNER OF COURT AND PLACER IN REDDING
MORE THAN A QUARTER CENTURY LOCAL REAL ESTATE EXPERIENCE
Redding Foreclosure Activity Update
INDUSTRY NEWS, SHASTA COUNTY
January 28th, 2010
The number of bank-owned properties (REO’s) listed for sale in Redding/Shasta County is on the rise. Currently there are 174 active REO listings on the Shasta Multiple Listing Service. This number is up significantly from last year when just over a hundred were available on any given day. Nearly a quarter of the 400 pending home sales are REO’s. However, based on 2009 totals, almost half of the closed home sales were REO’s or short sales.
The uptick in REO inventory could be due to banks releasing more properties into the marketplace or fewer REO’s being purchased. Has the market hit a saturation point? In 2009, the number of REO’s was steady for the first 10 months of the year but started climbing in early November. This coincides with the expiration of the federal tax credit which was extended to April of this year. It is also possible that Shasta County’s unemployment rate has finally impacted home sales.
Elsewhere in California and the nation home prices seem to be stabilizing. Prices are actually increasing in most of the major metro areas according to reports I’ve read. However, home prices locally have been on a steady decline. Last year, the average home price fell 12% in Redding and has dropped around 40% since the peak in the fall of 2007.
The good news is there are about 200 fewer homes listed for sale today compared to a year ago. Pending home sales are also up by about 25% from last January. Consumer confidence is on the rise despite the nation’s waning approval of our president’s efforts to get our economy back on track.
530-224-6767 or 530-941-7492
BRAD GARBUTT
REALTOR/BROKER ASSOCIATE
REAL LIVING REAL ESTATE PROFESSIONALS
CORNER OF COURT AND PLACER IN REDDING
MORE THAN 25 YEARS LOCAL REAL ESTATE SALES EXPERIENCE
Is Fed Poised To Kick Crutch Holding Up Housing Market?
HOME LOANS, INDUSTRY NEWS, TIPS FOR BUYERS, TIPS FOR SELLERS
January 26th, 2010
Low interest rates enjoyed in 2009 by home buyers and homeowners refinancing may be history come March. The Federal Reserve propped up the ailing housing market by quietly buying up mortgage-backed securities and lowering key interest rates which influence costs for consumer borrowing. Lenders loaned money only because they knew government sponsored enterprises (GSE’s) were willing to buy them. The investor pool that normally buys these securities seized up during the housing meltdown forcing the government to step in before lending came to a grinding halt.
Now the Feds have decided it’s time the lending industry stand on its own. Investors will need to step up and buy mortgage-backed securities or home loans will become extremely difficult to find. Banks rely on investors to buy these loans to back-fill their balance sheets with money to loan to future mortgage seekers.
Some believe there is a pent up demand in the private sector to buy these investments. The big question is will they be willing to buy at the artificially low mortgage rates or will they demand higher returns? Some predict rates will rise to 6% or possibly 7% or higher for the popular 30-year fixed rate mortgage in order to satisfy the rate of return demanded by private investors nervous about the health of the housing sector.
The Feds may have to once again support the financial markets if they don’t buy these securities at auction. Fannie and Freddie GSE’s are ready, willing and able to buy up to $300 billion in mortgage securities during 2010 if called upon to do so. Private industry does not want government in the loan, banking or car manufacturing business so this is the next logical next step-assuming the private sector loosens their purse strings and gets back to churning money through the economy.
Other factors that could derail a housing sector recovery include:
- Tightening of FHA loan rules regarding credit and downpayment requirements
- Investors buying stocks and bonds with capital previously used to buy mortgage securities
- Expiration of federal tax credits for home buyers
- Banks destabilizing home prices by clearing their books of foreclosed properties
Lending industry insiders predict the volume of loans funded in 2010 will be half that of 2009. This could lead to the double dip recession experts have been warning about, especially in areas like ours with a fragile economy.
530-224-6767 or 530-941-7492
BRAD GARBUTT
REALTOR/BROKER ASSOCIATE
REAL LIVING REAL ESTATE PROFESSIONALS
CORNER OF COURT AND PLACER IN REDDING
MORE THAN A QUARTER CENTURY LOCAL SALES EXPERIENCE
Is Your Taxable Property Value Too High?
LOCAL GOVERNMENT, SHASTA COUNTY, SHORT SALES, TIPS FOR SELLERS
January 21st, 2010
Proposition 8 requires county assessors review property values used to calculate property tax bills when the current value drops below the base year valuation. Some California assessors have waited for property owners to request a new appraisal while others, including our elected assessor Leslie Morgan, have taken the initiative to examine thousands of properties purchased after 2002. Leslie Morgan and members of her staff updated Realtors on actions taken by their department to bring area property values in line with the current market at our weekly MLS meeting.
More than 32,000 of Shasta County’s 95,000 properties were reviewed and approximately 16,400 saw a drop in their taxable value. In fact, Shasta County property owners collectively paid $12.5 million less in property taxes as a result of Leslie’s actions. This translates to billions of dollars of lost property values across the county. Sacramento feels the hurt because they keep the lion’s share of property tax dollars that are collected by the county and forwarded to the state’s general fund. Only 13 cents of each tax dollar is returned to the county.
The challenge for county appraisers is selecting from two distinct pools of sales data-arms length transactions involving owner occupied, well-maintained properties or distress sales which include neglected bank-owned properties and short sales. Referred to as two-tiered market comparables, the appraisers must decide which pool to draw sales data from when conducting a reappraisal.
The county also received more than 500 appeals from property owners contesting the value of their property as reflected on the tax roll. This usually happens when the tax bills are mailed out each fall. Less than half of these properties were adjusted downward according to Leslie. Appeals are accepted after the tax year begins July 1 but the appraisal must reflect the value as of January 1 of the current year.
Another challenge is the lack of closed sales to choose from. The slow real estate market means there are fewer properties in a given location to use for an appraisal. This is an even greater challenge in rural areas of Shasta County. In some cases, the appraisers are so buried with a backlog of properties to evaluate they encourage property owners to file a formal appeal to protect their rights to have their property reassessed. This way they can have the value adjusted at a later date and receive a refund if there was an overpayment of property taxes.
One positive note is the inflation rate was negative for 2009 so the county will not be adjusting property tax bills upward this tax year. Prop 13 allows up to 2%/year increase if the CPI has increased by at least that amount.
Legislators are discussing possible revisions to Prop 13 in light of the spending problem in Sacramento. There is a push to split the tax roll-assessing commercial properties differently than residential properties. If this happens, it would be one more reason for businesses to move out of California.
530-224-6767 or 530-941-7492
BRAD GARBUTT
REALTOR/BROKER ASSOCIATE
REAL ESTATE PROFESSIONALS REAL LIVING
CORNER OF COURT AND PLACER IN REDDING
MORE THAN A QUARTER CENTURY LOCAL SALES EXPERIENCE
Local Housing Agencies Launch Foreclosure Assistance Program
HOME LOANS, LOCAL GOVERNMENT, SHASTA COUNTY, TIPS FOR BUYERS
January 20th, 2010
Shasta County, along with the cities of Redding, Anderson and Shasta Lake have landed a grant of $1 million to assist home buyers wishing to purchase a foreclosed home in designated neighborhoods. Most of Shasta Lake is eligible for the program as well as Anderson Heights and Ravenwood subdivisions in Anderson. The program has been dubbed C4-HAP. Interested home buyers should contact the Shasta County Department of Housing and Community Action at 1450 Court Street Suite 108 Monday through Friday from 8 a.m to 1 p.m. to add your name to the waiting list for loan applications.
Here are some important points:
- The program is only available until June 2010
- Purchase price is limited to $190,000 or less
- The assistance is a forgivable 0% interest silent second loan
- The loan is forgiven after 5 years
- Household income limits apply depending on household size
- Do not need to be a first-time home buyer, but you can’t presently own a home
- Property must be located in specific census tracts to qualify
- Buyer must occupy home as primary residence after purchase
- The average loan amount is expected to be $45,000
- Once the money is used up, there will be no additional funding
A single homebuyer can’t make more than $3,910/month. A family of 8 can make up to $7,370/month. The money allocated to this program will help roughly two dozen home buyers.
For more details, contact the following:
- Jodi White at City of Redding-225-4173
- Jessaca Lugo or Loree Byzick at City of Shasta Lake-275-7464 or 275-7463
- Torri Glasgow at City of Anderson-245-6431
The goal of the program is to help homebuyers purchase distressed properties which in turn helps prevent neighborhoods from blight caused by neglected vacant homes.
530-224-6767 or 530-941-7492
BRAD GARBUTT
REALTOR/BROKER ASSOCIATE
REAL ESTATE PROFESSIONALS REAL LIVING
CORNER OF COURT AND PLACER IN REDDING
MORE THAN A QUARTER CENTURY LOCAL REAL ESTATE SALES EXPERIENCE
Federal Reserve Earns $46.1 Billion Profit Thus Far From Bailout Efforts
INDUSTRY NEWS
January 18th, 2010
Maybe bailouts do have a silver lining! The Federal Reserve announced last week it made a record $46.1 billion as a result of gains on securities it purchased to shore up the financial system. The Fed is not in the business of making money but this was a side effect of bailouts to aid the banking industry. The profits were turned over to the Department of Treasury.
The primary goal of the Federal Reserve is taking actions that stabilize monetary systems. They can buy or sell securities, print money or adjust interest rates banks charge each other. The Fed purchased mortgage-backed securities in 2009 to keep interest rates low. These securities pay a higher rate of return than Treasury securities which helps explain the windfall profits.
This could change if the financial markets take a turn for the worse. However, Fed officials believe the investments are safe. This news should silence those concerned President Obama put too many taxpayer dollars at risk to shore up the financial sector of the economy. Of course, there are many Americans that will never admit his gamble paid off!
Besides making great returns on securities, the Fed reported $2.6 billion in profits from currency swap arrangements with central banks in 14 countries and $700 million from fees charged to banks for services provided by the Fed.
It would appear that bailouts authorized by President Obama have averted a catastrophic meltdown of our financial systems as well as paid a handsome return to taxpayers. The fact that many banks are paying back TARP funds and even GM has begun paying back some of their bailout funds indicates our new president probably made the right moves.
530-224-6767 or 530-941-7492
BRAD GARBUTT
REALTOR/BROKER ASSOCIATE
REAL ESTATE PROFESSIONALS REAL LIVING
CORNER OF COURT AND PLACER IN REDDING
MORE THAN A QUARTER CENTURY LOCAL SALES EXPERIENCE
Cal Fire Warns Of Big Weather Change
REDDING LIFESTYLES, SHASTA COUNTY
January 14th, 2010
Things are changing out in the Pacific which, if it comes to fruition, could dramatically change the dry weather pattern the Redding area has seen thus far this winter. According to weather forecasters at Cal Fire, the high-latitude block that has kept storms away has collapsed. Also, a powerful branch of the jet stream has developed and is expected to roar across Northern California bringing high winds and heavy precipitation.
This wet weather pattern has been absent for several years. Coincidentally, El Nino happens to be peaking in the Eastern Pacific which energizes the jet stream with moisture. Due to the low latitude of the jet stream, the storms are expected to be quite cold initially. This weather pattern is expected to arrive Sunday and continue for at least a week. It’s possible the Sierras will see tens of feet of snow above 3000-4000 feet. Lower elevations can expect at least 3-4 inches of rain statewide. However, the north state may see 5-10 inches in lowlands and 10-20 inches in “orographically-favored” areas. Locally, Shasta Dam and the Shasta Lake tend to wring out significantly more moisture from passing storms than nearby valley areas.
Forecasters are unanimous that after this week-long event, a “reloading”will occur with a strong possibility of a Pineapple express pattern developing bringing warm moist storms that could trigger moderate flooding as it melts the copious amounts of accumulated snow. The unusual thing here is many different forecast models are in ”truly remarkable” agreement about these predictions.
I tend to be skeptical of long term weather predictions but this news is spreading like wildfire (pun) and it doesn’t hurt to batten down the hatches in preparation for what might be the drought busting winter many of us have waited for.
530-224-6767 or 530-941-7492
BRAD GARBUTT
RELTOR/BROKER ASSOCIATE
REAL ESTATE PROFESSIONALS REAL LIVING
CORNER OF COURT AND PLACER IN REDDING
MORE THAN A QUARTER CENTURY LOCAL REAL ESTATE EXPERIENCE
PREMIER SERVICE® is the focus of Real Estate Professionals/GMAC. We are located in Redding, CA (at the North end of the Sacramento River Valley) in the midst of river, lake, ranch and mountain terrain.
Our Customer Satisfaction Rating, based on an independent survey, exceeds 97%. This is reflected in our 2008 "QUIE" Award recognizing the TOP 10 REAL ESTATE COMPANIES in NORTH AMERICA! REP/GMAC in #2.
