The unusual heat we have had the last week or ten days seems to have past. We are now forecast for temperatures in the low 90’s for the next ten days.
The real estate market remains strong and we seem to be in a stable, healthy market. The median home price in the greater Ukiah area is now $306,000 and homes stay on the market for an average of 64 days. Interest rates remain around 4.25% with an A.P.R. of 4.65%. I can remember in the 1980’s when interest rates were up close to 18%. In those days I prayed for rates to drop to 12% and I never thought we would see single digit interest rates again.
There are currently 102 homes on the market. To buy a home valued at $250,000 one needs a monthly gross income of approximately $3,100. To rent the same house one needs a monthly gross income of $4,000. For the rental there would be a deposit of approximately $2,850 and the monthly rent would be approximately $1,350.00.
Here are some local activities happening over the next few days: Bocce Ball at Barra Winery, Thursday August 7th from 5:00 PM to 8:00 PM. Try some of Barra wines, they are excellent! On Friday, August 8th, Moonlight Movie Madness is taking place at 8:15 at the Alex R. Thomas Plaza in downtown Ukiah. The movie being shown is “Rio 2”. Also on the 8th, the U.V.A.H. Mayacama 5th Annual Salsa Taste Off is happening from 5:00 PM to 8:00 PM at the Pear Tree Center on Perkins Street, Ukiah. Enjoy the summer and the activities on our warm and comfortable summer evenings.