Jamie Schou Real Estate

Spring is just around the corrner and a new national survey showing that Americans are significantly more optimistic about homeownership than they were a year ago.

The survey shows that signs of increasing optimism are widespread:

* With interest rates at historically low levels, 96 percent agree or somewhat agree that now is a good time to buy.
* A full 70 percent of respondents have some degree of confidence that property values will improve over the next two years; with an 8 point increase in those very confident or confident compared to last year.
* 63 percent believe that real estate is a good investment despite the recent market volatility; that’s up 11 points from last year.

This is good news for home buyers and sellers, communities and our economy as a whole. As more people look to take advantage of historic interest rates and prices, we believe the foundation for a sustainable recovery is in sight.

NEW YORK (CNNMoney) — Mortgage rates dipped into record territory again, with the 15-year fixed-rate falling to its lowest level in 60 years and the 30-year fixed-rate just a tick off its own record.

A popular choice among homeowners looking to refinance, 15-year, fixed-rate mortgages averaged 3.13% last week, down slightly from the record low of 3.14% set in early February, according to Freddie Mac. The average rate on 30-year fixed-rate mortgage fell to an average of 3.88%, a mere 0.01 percentage points above its previous record low.

The record low rates have helped make housing as affordable as ever, according to Frank Nothaft, Freddie’s chief economist.

“With these historically low rates and declining house prices, the typical family had more than double the income needed to purchase a median-priced home in January,” he said.

According to the National Association of Home Builders/Wells Fargo Housing Opportunity Index, 75.9% of all new and existing homes sold during the three months ended Dec. 31 could have been comfortably purchased by families earning the national median income of $64,200.

Monthly payments for a $200,000 15-year fixed-rate loan at 3.13% come to just $1,394 a month. A year ago, when the industry was marveling at the persistently low mortgage rates, borrowers were happy to get 4.15%, 15-year mortgages. At that rate, they would have been paying $1,494 a month, $100 more than at the current rate levels.

Today, Squaw Valley is officially opening the world’s first ski-in/ski-out Starbucks location. On the mountain at elevation 8,000 feet, Squaw Valley’s new mountaintop Starbucks boasts spectacular mountain views and the unique ability for guests to keep their skis or board on while they order their Starbucks beverage of choice.

“Starbucks is passionate about providing customers with the unique ‘Starbucks Experience’ wherever they are, including Squaw Valley’s upper mountain,” said Doug Satzman, vice president, channel development – branded solutions for Starbucks. “We look forward to serving our signature espresso and coffee beverages to the thousands of skiers and riders at Squaw Valley through our first-ever ski-in/ski-out Starbucks location.”

Squaw Valley’s mountaintop Starbucks store is located at the Gold Coast mid-mountain complex and can be accessed by the resort’s Funitel with or without ski or snowboard equipment. This Starbucks store will be open daily from 9 a.m.-4 p.m. throughout the winter season, weather permitting.

NEW-VILLAGE

A rendering has been floating around of proposed development and village expansion at Squaw Valley.   What do you think?  Good or bad for the valley and local community?

Jamie Schou
Direct 530-798-1393
jschou@kw.com