Maybe Rethink That Retirement Age?

Workers over the age of 65 are staying active in the workforce, opting to push back retirement.

In the year 2000, about 13 percent of Americans 65 and over reported being employed full or part time. But, by May 2016, that percentage had increased to 18.8 percent. As such, nearly 9 million Americans who are age 65 and over are employed. Further, over the next five years, that percentage is expected to rise to 32 percent of the workforce.

However, workers still need to be practical and anticipate retiring one day, and you should plan for it.

Source: “Workers Are Working Longer—and Better,” The New York Times (March 2, 2017)

Home Owner Satisfaction Remains High!

Nearly three out of every four home owners say they are satisfied with their purchase – and the No. 1 reason for their satisfaction is pride they feel about owning a home, according to HomeGain’s 2012 National Home Ownership Survey.

In addition to pride, home owners also said they enjoy the freedom and control they have to make improvement and upgrades to their home. Positive thoughts like these reflect what we are hearing here in the “Sierra Foothills” region of Placerville, El Dorado County, California.

Of the 1,400 home owners surveyed nationwide, satisfaction was found to be highest in the Northeast at 77 percent, followed by the Southeast at 73 percent, the West at 71 percent, and the Midwest at 68 percent.

“The HomeGain 2012 National Home Ownership satisfaction survey shows in spite of declines in the values of homes nationwide, satisfaction among home owners remains high at 72 percent,” said Louis Cammarosano, general manager of HomeGain.

Source of data is Erica Christoffer, REALTOR® Magazine.

More information at: or email:


Federal Reserve to Begin Publishing Rate Forecast?

Beginning Jan. 25, the Federal Reserve will start to publish a forecast four times a year that includes predictions about the direction of short-term interest rates, The New York Times reports. The report will include a summary of how long the Fed expects to keep short-term rates at current levels.

“More guidance on rates might help lower long-term yields further — in effect providing a kind of stimulus,” the Associated Press reported in an article announcing the change. “Lower rates could lead consumers and businesses to borrow and spend more. The economy would likely benefit.”

The Fed’s move will provide greater insight into its methodology and decision-making. 

Since 2008, the Fed has left its key short-term rate at record lows near zero. This past summer the Fed announced it intended to leave the rate low until at least mid-2013. 

 Source: “Fed to Publish a Forecast of Rate Moves, Guiding Investors,” The New York Times (Jan. 3, 2012) and “Fed to Regularly Forecast Interest-Rate Changes,” Associated Press (Jan. 3, 2012)

More news from Placerville in the “Sierra Foothills” of El Dorado, Placer, Amador and Sacramento Counties of California at: or

Where are “Home Interest Rates” Heading?

The Federal Reserve doesn’t traditionally make a point to reveal its predictions for future actions on interest rates widely known to the public — that is, until recently. This summer in a rare step, the Fed announced that it would keep short-term interest rates at nearly zero until 2013. The Fed may start making it a tradition to reveal more with a regular forecast of its future decisions on interest rates. 

The Fed may consider adopting such a move at its Tuesday meeting, but if it does adopt an action, it most likely wouldn’t be announced to the public until January, The New York Times reports. 

According to a recent article, the minutes of the Federal Reserve committee’s last meeting in November revealed that “participants generally expressed interest in providing additional information to the public about the likely future path of the target federal funds rate.”

If the Fed adopted a forecast, it likely would predict where interest rates are heading for the next three years, and it would be similar to the forecasts it already publishes about economic growth, unemployment, and inflation four times each year, The New York Times reports. 

 Source: “Fed to Weigh Publishing a Forecast on Rates,” The New York Times (12/ 11/11)

Other news or help from the Sierra Foothills, El Dorado, Placer, Amador or Sacramento Counties of California at: or

So where are the homes selling in El Dorado County?

A little over 25 percent of all county home sales last month were in El Dorado Hills where the average selling price of $489,000 was 4 percent less than the average selling price at this time last year. The area has 200 homes currently for sale with a median listed price of $561,000.

Cameron Park was the second most active area for sales with 26 homes closing escrow. The average selling price was $257,500; a decline of $47,600 from September of 2009. 

The Greater Placerville area reported 14 sales with an average selling price of $226,500. Sales were off a third and the average selling price declined $47,500 from a year ago same month. 

Last month the more rural areas in the county experienced increasing prices and sales. What’s up with that? 

Diamond Springs/El Dorado for example, reported the same number of sales this September as last but their average selling price of $260,000 was a $60,000 jump from last year. Somerset/South County reported 25 percent more sales and a $50,000 price increase. Pleasant Valley/Placerville South reported their averages selling price of $258,600 which was a $42,000 bump in price from last year. The $247,000 average selling price for a home last month in Mosquito/Swansboro was a $65,500 increase and prices in Cool/Pilot Hill were up $24,500 for the month. 

On the inventory side we have too many short sales and REO listings competing with individual sellers for the attention of too few buyers. The MLS is currently showing 244 active short sale listings without offers and another 196 listings with offers but waiting for an approval from the mortgage holder. Then there are 173 active REO listings. That adds up to half of our current listings that are financially distressed properties.

Information provided by: Ken Calhoon, Pacerville, California

Enhanced by Zemanta