Home Source, March 1, 2024

Warning: I might get a little sentimental today.

This is the 20th anniversary of my, well, really our, weekly column. In addition to feeling old, I also feel grateful.

The milestone marks the rst week of March 2004 when the New Orleans TimesPicayune became the rst newspaper to run my syndicated column and continues to run it today. Thank you, Big Easy! And thanks to all the papers from Sarasota to San Francisco that followed.

Twenty years, 10 homes, 1,040 columns later, a writer re ects

an editor from the Orange County Register asked me to lunch. The paper was launching a monthly regional magazine targeting owners of luxury homes. (Think Laguna and Newport Beach.) He wanted a column that would be the antidote to the potentially insu erable, pretentious content.

The roots of this column, however, actually started a couple years earlier. I was living in Southern California working as a freelance writer when

“So,” I said, “you want a monthly column that is not about rich homeowners and their chichi architects and their museum-quality art collections and the exquisite homes they build on the blu s overlooking the Paci c and how the whole experience was one giant lovefest and they had money le over?”

“Right,” he con rmed, “a

WRITER AT WORK

— “Because I have never been able to see where home design stops and home life begins, my columns are about both,” says the author pictured in her home o ce, in Winter Park, Fla. Marni Jameson’s syndicated column turns 20 years old this week.

Marni Jameson At Home

Photo by Susan Beane

When I was in college I purchased my rst car. I paid $400 for a 1961 Dodge Dart. The three-speed column shi er required the driver to manually change gears starting o in neutral and shi ing into rst, second and third. The problem with that car was that on occasion it would get stuck in neutral. This required I jump out of the car, li the hood and with my hammer I carried for such occasions tap the exposed gear arm. That would jump the vehicle into rst gear and Dodge would jerk forward. I

needed to close the hood and jump behind the steering wheel before it picked up speed. If I mistakenly tapped the reverse gear arm the car would jump into reverse.

Our real estate market is stuck in neutral. It isn’t going anywhere. If the Federal Reserve had lowered interest rates as anticipated, that would have jumped the market into rst gear but that’s now unlikely. The most recent in ation numbers are higher than acceptable and the Fed’s weapon of choice bringing down in ation has been increasing interest rates. As long as

Federal Reserve has interest rates stuck in neutral

in ation is above 2.75% mortgage rates are likely to stay put.

Staying put is what potential home buyers are doing. During the rst two months of last year there were about 200 county sales. That’s about where sales are through February of this year. The primary hold-up is higher mortgage rates. The di erence in a typical mortgage payment with today’s higher interest rates and two years ago is about $1,000.

Listing inventory is also stuck. The low number of homes we have for sale this year is about the same as last year. There are two types of sellers — folks who must sell and discretionary sellers. Sellers who must sell will list their homes regardless of market conditions but many potential

sellers don’t need to sell. They will sell when buying another home, perhaps in a di erent location. They will sell in a seller’s market when prices are rising. They do not list their homes when prices are stationary and will not willingly trade their low interest loan for a higher interest rate on another home.

With homebuyers in neutral, homes are taking longer to sell. The average time a home is on the market before an accepted o er is 60 days. Three years ago the average number of days was 18. Sellers who are stuck in neutral with few showings and no o ers on their home have been gearing down their prices. One-third of current listings have

■ See CALHOON, page 4

Calhoon

Jameson

Continued from 3

reduced their original listing price one or more times. That percentage will grow as more sellers lower their price expectations. Without more traction from buyers, home prices are slipping. The median selling price for a county home during the last two months of last year was $620,000. That’s slipped to $600,000 this year. I expect price improvements as temperatures rise. Spring and summer buyers will nd sellers more receptive

Continued from 2

reality column.”

He’d found the right scribe. At that point, I had built two homes from the ground up, had the debt and cortisol levels to prove it and had an arsenal of frustrations.

Still disbelieving, I added, “You want me to write about the tile mason with the drinking problem, the neighbors who won’t speak to you because you’ve had an outhouse and a Dumpster parked in your front yard for three months, the dogs who get so fed up with the construction they run away in search of a rescue and about how the remodel took three times as long, cost three times as much and you weren’t speaking to your spouse at the end?”

“Exactly,” he said. “Sprinkle in some advice. Be the girl next door who has the same problems as everyone else but is two steps ahead because you’ve made the mistakes and know who to call.”

Eighteen months later, my then husband and I, in the throes of a mid-life crisis, moved from Southern California to Colorado. The news that the magazine would no longer run my column because I would no longer be local hit hard.

“I was just winding up,” I said, whining to my editor at the Los Angeles Times, a paper I also frequently wrote for, “and they red me.” (OK, so maybe that was a little dramatic.) To get me o the phone, the editor suggested I write to Tribune Syndicate to see if they might pick the column

to their o ers but the selection of homes will continue to be few.

A market stuck in neutral is better than rolling backward. Last year county sales fell 32% from 2022 and 76% lower than 2021. Nationally, existing home sales fell to a 28-year low. The tight supply of inventory helped builders who reported better-thanexpected pro ts but a market rolling backward slammed into corporate real estate.

up for national syndication, a total moonshot. (The Tribune then owned the LA Times.) Shockingly, because that year home sections were booming and the acquiring editor was remodeling, my submission got picked from among thousands, which kind of felt like seeing two shooting stars at once. (That joy was also short-lived. When the syndicate had a $1 billion cut the following year, our relationship ended and I became self-syndicated.)

When I told the magazine editor who’d canceled my column that it had been picked up for syndication, he congratulated me, then ominously added: “It’s great to have a weekly column, but one day, you are going to run out of ideas.”

Until then, a dry well hadn’t been on my worry list. I ashed back to when I was in kindergarten and got in trouble for talking too much in class. I wound up in the principal’s o ce with my mother to discuss “the problem.” When the principal asked why I talked so much, the answer was easy. “I just have so many important things to say,” I said, which was unintentionally hilarious.

So here we are 20 years and 1,040 columns later, and I still have things to say and no shortage of topics. Because I have never been able to see where home design stops and home life begins, my columns are about both. Here’s a brief look back at some of the moments we’ve been

Anywhere Real Estate, the massive franchisor whose brands include Coldwell Banker and Century 21 reported $107 million in fourth-quarter losses last year. Zillow reported a $73 million fourth-quarter loss. Open Door, the company that ips homes, lost $400 million and the large New York real estate rm Compass reported $158 million in

■ See CALHOON, page

10

through together:

• The calamities. You were there when my two custom 7-foot sofas arrived with the upholstery fabric inside out, when the back patio in our new Colorado home fell 3 feet into a sinkhole. When our rescue dog on his rst night with us tested our commitment on the oneday-old living room carpet. (Who gets a new dog and new carpet on the same day?)

• The many moves. You were there through 10 houses and nine moves, including the move to Florida, where I had a stint as a live-in home stager and moved six times in four years. You were there when I found love and happiness in the Happy Yellow House before landing in the Happier Yellow House.

• Life changes. You were there when I sent each of my children o to college, entering some sort of self-imposed dormdecorating contest in which I was the sole contestant. You were there through my divorce and remarriage, the loss of two parents and the gain of three grown step-children.

• The micro and macro. Together we’ve covered the minor (how to choose drawer knobs and tea towels) and the major (the meaning of home and belonging, and how to leave a meaningful legacy).

• The celebrity encounters. You and I learned from my interviews with world-class experts including the late

architect Michael Graves (on three occasions), the goddess of domesticity Martha Stewart, “This Old House” star and carpenter extraordinaire Norm Abram, The Property Brothers and other illustrious and less illustrious experts who generously shared their expertise.

• The upsizing, downsizing, rightsizing. You contributed in so many ways to my domestic documentaries that resulted in seven books about all things home — decorating on a budget, trying to live beautifully with those who don’t, downsizing, blending two houses into one and rightsizing your life to live where, how, with whom and with what you want.

I am thankful for my editors who have stuck with me as newspapers shrink, and especially for my readers. You are the real reason this weekly missive exists. Please keep reading. I still have “so many important things to say.”

Readers: If you have ever used advice from this column, I’d love to hear what you did and how it worked out. Spectacular failures are also welcome. Please send your story for possible inclusion in a follow-up column to marni@ marnijameson.com.

Marni Jameson is the author of seven books including the newly released “Rightsize Today to Create Your Best Life Tomorrow,” “What to Do With Everything You Own to Leave the Legacy You Want” and “Downsizing the Family Home.” You may reach her at marnijameson.com.

DRE# 01702817

KEVIN MEHTA (916) 917-8000

$839,000 MLS# 223086144

2637 Liberty Mine Ct., Placerville

Location! Location! Location! This stunning, newly built, custom home boasts an abundance of features tucked away in a cul-de-sac in one of the most beautiful and peaceful neighborhoods in Placerville. You’ll enjoy the privacy and quite setting, as the home backs up to a greenbelt. The home offers a spacious floor plan, with two beautiful kitchens, granite countertops and stainless-steel appliances, a wet bar, and a ton of custom-made cabinetry. This energy efficient home has separate heating and cooling units with multi zone, two tankless water heaters, OWNED solar, fire sprinklers,

DRE# 01847887

$839,000 MLS# 223065834

2041 Long View Dr., Meadow Vista

Searching for a magnificent one-of-a-kind location with sweeping views to build your dream home? Look no further. Your dreams will become the most amazing reality when you purchase this breathtaking lot in the prestigious Winchester Golf Club. At the top of your drive, you will be greeted with spectacular views in several directions, the look, feel and smell of a Tahoe getaway, the sounds of nature, gentle whispers of the breeze dancing through the tall oaks, mossy rocks, boulders, and outcroppings all on a gently sloping hill. This stunning 2.4-acre natural beauty offers sweeping views of the green fairway of hole #1 in one direction, views of the Sacramento Valley in another direction, the Tee Box in another direction.

WENDY DANEAU (916) 847-6899

PRICE REDUCED $150,000!

MASTERPIECE IN PRESTIGIOUS PROMONTORY VILLAGE home boasting 5, 131 square feet of exquisite living space, where every detail has been

FEATURES: Soaring 12-foot ceilings. 5 bedrooms & 6.5 bathrooms. 3-car garage ceilings for larger vehicles. Generous .75-acre lot that backs to greenspace. Gourmet two islands, bar seating, & high-end Viking appliances! Four spacious covered patios.

LUXURIOUS DETAILS: Ground- oor bedroom with an en-suite bath ensures comfort

or anyone with physical limitations. Top-rated elementary school in short walking retreat, o ering lake views, a cozy replace, & an indulgent spa-like bathroom. Beautiful

rooms upstairs & down. ENERGY EFFICIANCY & ELEGANCE - surpassing the latest

home can match the spacious elegance & high quality features of this extraordinary

comfort, & sophistication! MLS#223117332 Listed at $2,100,000

Paying one lump sum for the subscription not in your budget?

• One LESS check to write

• One LESS stamp to stick

• One LESS envelope to seal

• One MORE reason to subscribe

530 344-5000

YouR Guide to PRoPeRtY listinGs

YOURGUIDETO PROPERTY LISTINGS

You may also find it helpful to browse listings by the type of real estate you are interested in buying. To find the geographic location, look at the classification heading and locate the matching zone number on the El Dorado County Map.

You may also find it helpful to browse listings by the type of real estate you are interested in buying. To find the geographic location, look at the classification heading, and locate the matching zone number on the El Dorado County Map.

To find property by geographic location, use the following reference table. Each category is separated by the zone number, type of real estate, and location in El Dorado County.

Residential

Information contained in Home Source MLS Listings are accessed each week, neither Home Source, Mt Democrat or McNaugthon

Mobile

All properties are listed by price, address, acreage, listing number, and the Realtor’s office number. If you would like more information about a property, call the relevant office number for that listing.

To find a property by geographic location, use the following reference table. Each category is separated by the zone number, type of real estate, and location in El Dorado County. Properties are sorted by price, in ascending value.

12602 Residential Homes

el DoraDo Hills

This representation is based in whole or in part on data supplied by MetroList©. All information provided by seller/other sources has not been verified by broker. All interested persons should independently verify accuracy of above information. Copyright ©2002 – MetroList Services, Inc.

5999002085Moonstone4325800.33550029586916-933-1400

5999993200Stanford 3229270.40050023977916-933-4500

6000003065Birmingham4220180.29150032628916-933-8700

6190001157Oak Tree422559 40082036916-933-1400

6190006036Brogan 4224500.19250032887415-867-2675

629000506Prairie Falcon5333860.19150019418530-676-2376

6325001104Bevinger 3226590.21150027062916-939-6633

6350001636Daunting

6350005049Mertola

6450002290Summer 3327340.20150025702916-536-5200

6450005087Garlenda4327500.18150030695916-683-3250

648000515Borders 3224360.14050031968916-681-5112

$1,942,500

12605 Residential Homes latrobe/sHinGle

12701 Residential Homes Greater PlaCerville

Calhoon Continued from 4

fourth-quarter losses.

While the residential market is stalled in neutral, the commercial market will require a tow truck. If the Fed decides to lower rates later this year, it won’t be because the residential market needs a shove forward. It will be to save commercial lenders facing a huge number of loan defaults. Commercial real estate foreclosures are up 97% from last year. California leads the nation with a 174% increase in commercial foreclosures. Downtown o ces are experiencing the highest vacancies ever. Commercial tenants are not renewing leases, defaulting on their rents

and ling bankruptcy.

Potential homebuyers will eventually decide that higher mortgage rates is the new normal. That happened once before when mortgage rates climbed from 8% to 18% back in the 1980s. A er sitting on the sidelines watching home prices and mortgage rates steadily increase, buyers decided to take whatever the current rate and re nance when rates went lower. That’s what happened in the 1990s when 25 million borrowers re nanced to lower rates while their homes continued to appreciate.

Sellers who need to sell will need to be leading the price retreat. When home prices are increasing, it’s OK for sellers to push up their price. When prices are stuck or declining, sellers need to attract attention and o ers by being the best buy available. Fortunately, sellers have the highest amount of equity ever in their homes. El Dorado County sellers are walking away from their closing escrow with more than $200,000. When life gets us stuck in neutral get out the hammer.

Ken Calhoon is a real estate broker in El Dorado County. He can be reached for questions or comments at ken@kencalhoon.com

12802 Residential Homes

12704 • Residential Homes • someRset, mt. aUkUm, soUtH CoUntY (Cont.)

PRICE STREET ADDRESS BD. BA. SF ACRES LISTING #

12801 • Residential Homes • Camino, CedaR gRoVe (Cont.)

12803 • Residential Homes • ameRiCan RiVeR CanYon (Cont.)

STREET ADDRESS BD. BA. SF ACRES LISTING #

12801 • Residential Homes • Camino, CedaR gRoVe (Cont.)

PRICE STREET ADDRESS BD. BA. SF ACRES LISTING #

Fax:

Fax:

David.Crofut@lhfs.com

Leo.Pacheco@lhfs.com www.HomeLoansbyLeo.com NMLS/CA-DBO

NMLS/CA-DBO