How’s the local real estate market? Stable and trending positively! Realtors® on the Mendocino Coast have been active listing and selling homes. The CMAR Multiple Listing Service shows 53 residential properties sold from $166,500 to $1,750,00 during the second quarter of 2018, with average sale price at $546,891 and median sale price at $460,000. Half way through the third quarter and entering a historically active market time on the Mendocino Coast (late Summer/early Fall) the numbers are on par with the second quarter – 27 residential sales from $250,000 to $1,050,000 with average sale price at $468,100 and median sale price at $389,000. The CMAR MLS includes data on sales along the coast from Irish Beach to Westport and as far inland as Anderson Valley.
Why Homeownership Matters
June marks National Homeownership Month, which recognizes the value of homeownership and its positive impact on families, communities and the nation’s economy. This month allows a time to celebrate and promote the American Dream of homeownership and identify the many benefits of owning that roof over your head.
“Most consumers know that homeownership is among the most sound investments an individual can make to begin building their personal wealth. However, owning a home is not just in the best interest of the homeowner. Homeownership provides social stability, builds communities and is a driving force for the national economy,” said Coastal Mendocino Association of REALTORS® (CMAR) President, Meghan Durbin.
Below are some of the benefits of reaching the American Dream:
Social stability: Improved educational performance, lower crime rates and improved health are a few social benefits linked to homeownership. “Homeownership allows households to accumulate wealth, which opens doors to more engagement in communities through volunteer work, involvement in social activities and electoral participation,” said CMAR President, Meghan Durbin.
Strong communities: Homeowners tend to stay in their homes longer than renters, dedicate more money to improve their home and are more engaged in enhancing their community. “Homeowners are often more invested in their home and their surroundings, which leads to stronger neighborhoods and communities and increased interaction between neighbors,” said Durbin.
Economic force: Being a homeowner also has a positive local and national economic impact. That is because homeownership creates jobs through remodeling, landscaping, lawn service, furniture and appliances, home improvement and real estate services. “When a home is sold in the United States, the income generated from real estate-related industries is over $20,000 and additional expenditures on consumer items is about $4,500 – a boom to the economy,” said Durbin.
Brings families together: Along with being more involved in their communities, homeowners are often active and connected to their own families. Family dinners and game nights at home could mean a more-connected, happier family.
“Home is where people make memories and feel comfortable and secure. Homeownership Month is an opportunity to reiterate that anyone who is able and willing to assume the responsibilities of owning a home should have the opportunity to pursue that dream and enjoy the many benefits that come along with it,” said Durbin.
Consumers can learn more about National Homeownership Month and keep up with housing-related tips, news, stories and policy issues through Homeownership Matters: https://homeownershipmatters.realtor/ and HouseLogic: https://www.houselogic.com/.
For more information about buying or selling a home, contact Coastal Mendocino Association of REALTORS® or visit www.cmaor.org to speak with a Realtor®, a member of the National Association of Realtors®.
CMAR MLS 2018 First Quarter Stats
First quarter local real estate stats from the Coastal Mendocino Association of Realtors are in!
The real estate market is alive and well on the Mendocino Coast. From January through March there were a total of 56 closed sales (all types of properties: residential, land, business, commercial & manufactured homes in parks). 27 of those were homes in the MLS area of Fort Bragg (including Cleone and Inglenook). The average sale price was $457,344 with an average days on market of 201. In Mendocino there were 6 homes sold with an average sale price of $1,128,833 and average days on the market at 215 days.
Currently there are 123 homes for sale on our local CMAR MLS. That number can change daily. If you are looking to buy or sell on the coast call a local Realtor®.
Why use a Realtor®? – They take on fiduciary responsibility
When you work with a Realtor®, their fiduciary responsibility is to you, their client. That means you have an expert who is looking out for your interests. That’s big—the value of that commitment cannot be overstated. “For more than 100 years, Realtors® have subscribed to the NAR’s strict Code of Ethics as a condition of membership,” says National Association of Realtors® 2013 President Gary Thomas. “Realtors® have the expertise and experience to help sellers protect their investment and help buyers build theirs.”
Coastal Mendocino Association of Realtors Commemorates the 50th Anniversary of the Fair Housing Act
For decades, Realtors® – members of the National Association of Realtors® – have supported a free, open market that embraces fairness and equal opportunity for all buyers and sellers. Members of the Coastal Mendocino Association of Realtors strongly support the Fair Housing Act, legislation first passed in 1968 and now prohibits discrimination based on race, color, religion, sex, handicap, familial status and national origin.
This year, Realtors® from the Mendocino Coast will join Realtors® across the country to embark on a yearlong commemoration of the 50th Anniversary of the Fair Housing Act to raise awareness for fair housing issues.
“Realtors® continue to recognize the significance of this important act and reconfirm our commitment to upholding fair housing law, as well as our commitment to offering equal professional service to all in their search for a home or property. Realtors® work hard to build strong communities and neighborhoods where all people can live and prosper,” said Meghan Durbin, CMAR 2018 President.
Over the years, NAR has developed educational information on diversity and fair housing laws, programs and resources that have helped educate Realtors® across the country on the importance of inclusive housing practices and the promotion of diverse homeownership. During the yearlong commemoration, NAR will further examine community fair housing issues and advocate for changes to the Fair Housing Act to prohibit discrimination based on sexual orientation and gender identity.
Realtors® will focus on three key elements in 2018: acknowledging the organization’s changing role in the fight for fair housing, understanding how we as a nation are constantly improving our commitment to fair housing and ways Realtors® strive to lead efforts to address fair housing policy issues.
“Fair housing protects the American Dream of homeownership for all citizens, and the Coastal Mendocino Association of Realtors looks forward to commemorating the anniversary and supporting the development of healthy and diverse communities,” Durbin said.
For more information, visit www.FairHousing.realtor to learn about the commemoration, find materials and resources, and see what Realtors® are doing to advance fair housing. Additional information about CMAR and resources for homeowners, buyers and sellers can always be found on our website www.cmaor.org
CMAR Presents Checks to Local Nonprofits
The Coastal Mendocino Association of REALTORS® raised a total of $8095 at the annual Installation Fundraiser. The Fort Bragg Food Bank and the Mendocino Coast Children’s Fund were the recipients of the funds. Each organization received checks in the amount of $4,047.50. Thank you to all of our members and local businesses who assisted us in raising the funds for two outstanding organizations.
Fort Bragg Food Bank Executive Director, Nancy Severy and 2018 CMAR President Meghan Durbin.
Mendocino Coast Children’s Fund Executive Director Annie Liner and 2018 CMAR President Meghan Durbin.
CMAR Raises Funds During Installation of New Board
The Coastal Mendocino Association of REALTORS® (CMAR) held their Installation dinner and fundraiser on Friday, November 10, 2017. REALTORS® joined together to support their industry while raising funds for two local charities, the Fort Bragg Food Bank and the Mendocino Coast Children’s Fund. Generous donations from REALTORS®, CMAR Business Affiliates and our local community enabled $8095 to be raised from a raffle, as well as both a silent and live auction. Past President, Meghan Durbin, of Coast Real Estate was sworn in again as the 2018 CMAR President, taking the gavel from 2017 CMAR President, Carol Ann Walton, of Gale Beauchamp Realty.
The annual event provides a time for REALTORS® honor the service of their volunteers, including members of the board and members of numerous committees, whose contributions to CMAR benefit the association, as well as the community as a whole.
Outgoing CMAR President Carol Ann Walton received the Distinguished Professional Service Award, the Rookie of the Year was awarded to Josie Swenson of RE/MAX First Equity, and the Humanitarian / Community Service Award was posthumously awarded to Frank Maurice formerly of Century 21 Fort Bragg Realty.
Meghan Durbin (Coast Real Estate) is being sworn in as the 2018 CMAR President by California Association of REALTORS® Region IV Chair, Sally Crain.
The 2017 Board of Directors was thanked for their service. Pictured are Turan Kilki (Century 21 Fort Bragg Realty), Kara Zilboorg (Sea Cottage Real Estate), Phil Jago (RE/MAX First Equity), Carol Ann Walton (Gale Beauchamp Realty), Tom Hawkins (Century 21 Fort Bragg Realty), Agnes Li (Century 21 Fort Bragg Realty), A.B. Priceman (Garden Ranch Real Estate) and Meghan Durbin (Coast Real Estate). Not pictured are Paul Clark (Century 21 Fort Bragg Real Estate) and Sheri Molina (Century 21 Seascape Realty.
Photos by Deirdre Lamb
There’s a reason homeownership is still considered the “American Dream.” A home is a place to create memories, a means for building wealth, and a pathway to strength and stability in the communities we all call home.
Here along the Mendocino Coast, things are no different, and that’s something for lawmakers to remember as Congress embarks on an effort for comprehensive tax reform.
Middle-class families have built wealth for centuries through homeownership and real estate investment. Homeownership allows families to protect themselves against rising rents and inflation, while offering an opportunity to build equity over time.
Let’s face it: most families can’t get a loan to purchase stocks or invest in a mutual fund, but they can get a safe mortgage product at competitive rates to invest in a home. It’s a tremendous mechanism for building wealth that shouldn’t be taken away.
Best of all, homeowners aren’t the only ones who benefit. For every two homes sold, a job is created. In all, home sales support an average of more than 2.5 million private-sector jobs every year. At almost $3 trillion, real estate accounts for more than 16 percent of the U.S. gross domestic product (GDP). At the state level it accounts for more than 20 percent of the GDP.
That’s a big part of why, for over a century, the American tax code has incentivized homeowners. The country’s leaders acknowledge that a strong, stable housing market is good for everyone, which is why it deserves support.
Important tax incentives such as the mortgage interest deduction and the state and local tax deduction are a part of the tax code to ensure all creditworthy families have a fighting chance at the American Dream.
If those incentives went away, homebuyers would see their dream pushed further out of reach, while current homeowners would have the welcome mat pulled right out from under them.
Comprehensive tax reform is a worthy goal, and lawmakers should be applauded for their ambitious approach.
As Congress continues working through this process, however, the incentives that put homeownership within reach for millions of Americans deserve full support from both sides of the aisle.
CMAR Participates in Coastal Cleanup
The 2017 Coastal Cleanup was a success at Caspar Beach! Working together we were able to collect several pounds of trash and recyclables. The beach was significantly cleaner this year, although we did haul out a tire and a couple of boards. Thank you to CMAR President Carol Ann Walton (Gale Beauchamp Realty), her daughter Cindy, Treasurer Tom Hawkins (Century 21 Fort Bragg Realty), MLS Committee Chair Scott Vorhees (Big River Real Realty) and CMAR Director Agnes Li (Century 21 Fort Bragg Realty).
REALTORS® HOST SCHOOL SUPPLY DRIVE
During the month of July, the Coastal Mendocino Association of REALTORS® (CMAR) hosted a school supply drive to benefit the Mendocino Coast Children’s Fund (MCCF). School supplies were collected at REALTOR® offices and at the CMAR office. Several boxes of school supplies were dropped off and distributed to local students at the MCCF’s annual K-12 Clothes Swap in Fort Bragg. In addition, financial contributions of $325 were provided to MCCF.
The Mendocino Coast Children’s Fund is a grassroots, nonprofit advocate for low income children on the Mendocino Coast. Their vision is to support a community in which all children have the opportunity to reach their full potential in life. Their mission is to provide funding for the unmet needs of infants and children on Mendocino’s north coast.
They are a safety net, providing assistance to children through the age of 18, who might otherwise fall through the cracks of society’s inequities. They provide children with essentials and necessities, hopes and dreams, opportunities and activities. With 100 percent of donations going directly to assist local kids, the MCCF is a valuable resource for the families and children in our community.
Majority of Americans See Homeownership as Good Investment; Affordability Woes Remain
Eighty-four percent of Americans believe that purchasing a home is a good financial decision, the highest number in 10 years. Yet six in 10 said that they are concerned about affordability and the rising cost of buying a home or renting in their area. This is according to NAR’s 2017 National Housing Pulse Survey, which measures consumers’ attitudes and concerns about housing issues in the nation’s 25 largest metropolitan statistical areas.
“This survey makes it clear that most American’s still believe in homeownership and aspire to own a home of their own. Building equity, wanting a stable and safe environment, and having the freedom to choose their neighborhood remain the top reasons to own a home. Yet, Americans consider the lack of affordability as a big obstacle to ownership,” said Carol Ann Walton, 2017 President of the Coastal Mendocino Association of REALTORS®.
Concerns over housing affordability show clear demographic divides, especially among unmarried and non-white Americans. More than 50 percent of unmarried and non-white Americans view the lack of available affordable housing as a big problem, compared to only four in ten of married and white Americans.
Nationally, 44 percent of respondents categorized the lack of available affordable housing as a very big or big problem. In the top 25 densest markets, more than half see the lack of affordable housing as a big problem, an increase of 11 percentage points since 2015. Coastal Mendocino Association of REALTORS® states that lower income Americans, renters and young women most acutely feel the housing pinch. There is also greater concern about affordable housing among the working class (65 percent) than for public servants such as teachers, firefighters or police (55 percent).
The survey found that over half of respondents strongly agree that homeownership helps build safe and secure neighborhoods and provides a stable and safe environment for children and family members.
“There are many benefits of homeownership, and they resonate more strongly as age increases. Over half of Americans between the age of 50 and 64 believe that home ownership is associated with a stable home environment, which also leads to greater educational success for children,” said Carol Ann Walton. “It’s important that younger Americans also have access to affordable and sustainable homeownership.”