Home Source, May 17, 2024

223067507

The upstairs addition shares the 721 Main Street address, and this part of the building has current remodel plans and a permit that can be assumed by new owners. Rough framed, plumbing and electric are finished, but insulation is not completed. Heat and air system also in. Main building could be anything you want with residential at the second floor with a deck and stairs leading down to a fully fenced 40x49’ private parking lot and year round creek.

Many lenders are now offering many incentives to get you into a home. They are offering down payment assistance or will pay your closing costs. Also the Feds are predicting that the interest rate will drop 3 times this year. The prices are staying and inching up since there are very few homes available, so you may want to get under contract now and refi after the drop with the same lender and save appraisal fees etc. with them.

OPEN HOUSE DIRECTORY

11-1

6260 LOFTY VIEW ROAD, PLACERVILLE

$759,500

The views from this beautiful 4 bd/2.5 ba home on 11 acre will take your breath away. Open concept, large kitchen and family room with wood burning stove. Gorgeous views from inside and from the huge wrap around deck outside. Go downstairs and you’ll nd a great bonus room and 2 more bedrooms with plenty of space for family, friends or VHR. There is a separate entrance downstairs as well as access to the lower deck with in-ground swimming pool. There is even a tennnis court below the house! Nice barn/workshop with a carport. This home has been loved and enjoyed as a personal vacation retreat as well as a successful VHR. Equipped with outdoor re sprinklers and annual clearance inspections, the property has been meticulously maintained RE/MAX Gold • CARLA FERRANTE (916) 275-3174

12-3

6664 LINDBERG AVE, PLACERVILLE

$575,000

Adorable single story home on half an acre! Solar panels, split heating and air, and newer dual pane windows in the Living Room and bedrooms. Large kitchen features Knotty Alder cabinets and Granite Countertops. Adjacent dining area is just steps from the double doors leading out to the covered back patio. Primary bedroom has ensuite bath remodeled in 2017. Covered concrete patio. Pull your chair up to the re pit out front! Just minutes from shopping and HWY 50.

Lyon Real Estate • SHERIDA RADDIGAN (916) 799-8847

11-2

2919 PIAZZA COURT, POLLOCK PINES

$379,000

Adorable 2bd/1.5 ba home. The kitchen was updated in 2019. Windows were replaced with dual pane. It does have very nicely maintained yard and an attached wood storage shed. There is solar the new owner will have to be assumed by the very reasonable. The seller is motivated. A very comfortable setting inside and out. Just minutes from shopping, dining, and recreation. Perfect starter, cabin retreat, or downsizing home. The heating is wood stove and electric wall heaters. Tube lights in the living room and kitchen. Wood storage shed attached to the side of the house just outside of the garage.

Century 21 Select • HELEN RIVARD (530) 409-2687

Saturday, May 18 & Sunday, May 19, 2024

2 bedrooms, 2 bathrooms, 2,053 sqft. Century 21 Select • MARIANNE LOMAX (530) 748-8591

Stunning 4 bd/2 ba home offers unparalleled luxury living. Situated on expansive horse property, this home is a sanctuary. There’s a full functioning salon or you can convert to another bonus room. The expansive 4000 sqft workshop is a haven for car enthusiasts, craftsmen, and hobbyists alike. With the capacity to comfortably accommodate 6-8 cars, this space offers endless possibilities for storage, maintenance, and creative projects. Upstairs, a loft living area awaits, complete with its own AC system. Whether you need a quiet space to unwind or extra room for of ce tasks, this loft provides the perfect solution. Adjacent to the workshop are two horse stalls, providing convenient accommodation for equine residents.

CARE Real Estate • TINA CARTER (916) 838-0236

IThe housing divide grows wider in California and the nation

t was raining while recently driving through Reno and when I saw the ashing chain control warning sign near Boomtown I knew we were in trouble. We were returning from a camping trip in Moab, Utah. I had checked the weather when we le Ely, Nev., our halfway stop, and was anxious about the prediction of snow over Donner Pass. By the time we reached Truckee, Caltrans had closed the highway. We were stuck in Truckee. We found a parking lot for our RV and settled in for a cold night. The next morning it was 24 degrees and our RV had been covered with 7 inches of new snow. It would be a ernoon before enough snow was cleared from Donner and the highway opened.

While in Truckee I picked up a local newspaper where I read about the proposed residential vacancy tax initiative for South Lake Tahoe. An a ordable housing advocacy group, Locals for A ordable Housing, announced they had gathered enough signatures to

qualify the initiatives for the November ballot. If SLT voters approve the proposal, vacation homeowners would be charged thousands of additional property tax dollars.

As proposed, if homes were vacant for more than six months in the rst year, the owners would be charged $3,000 and $6,000 every year a er that. Most owners of vacation homes don’t occupy them over 60 days during the year. I presume the intent is to motivate, nancially coerce, absentee homeowners to rent their homes to the local workforce. If they decided to keep their vacation homes, the proposal would generate about $40 million in new city taxes. To singled out vacation homeowners to solve this community problem is divisive. Vacation homeowners are already paying full property taxes for their part-time occupancy. Their kids aren’t in local schools and absentee owners are not stressing roads or public services.

Everyone agrees that SLT needs more a ordable housing for the local workforce. A recent housing/jobs study documents a 3,200-house shortage and there are about 7,000 vacation homes in SLT; however, the implication that one can solve the other is false. Vacation homeowners will either pay the fee, sell or rent. The average selling price of a home in SLT according to Red n is $757,000 and the median monthly rent, according to Zillow, is $2,975. How then does this vacancy tax measure create more a ordable housing? Enforcement of a vacancy tax will be an issue and there will be costly legal challenges. Regardless of what SLT voters decided, this is another example of the push back on property owners by non-owners.

The housing shortage in SLT and all California has created a growing equity wealth divide between property owners and non-owners. This shortage ensures home prices will continue to increase and add equity wealth to long-time homeowners. It also ensures more working families will be locked out of the opportunity to own a home. When folks feel they no longer have the same ownership opportunities as current owners, they will demand change.

There was a time when it was understood that by

working hard and saving money for a downpayment, everyone had an opportunity to own a home in California. Entry level homes were plentiful. They were small starter homes and perhaps located in working-class neighborhoods. It wasn’t a forever home, but it was a beginning. Young couples had faith in a housing system that would allow them access to homes they could a ord. This was a vehicle to build equity and wealth and perhaps move up the housing ladder as their income improved. It had always been this way. Each generation had the same opportunity at ownership.

That opportunity is fading for working-class Americans. According to a study by the Federal Reserve, fewer Americans are homeowners. In 1989, 66% of baby boomers owned a home. In 2022 only 61% of millennials owned a home and the prospects for entry level Generation x are looking grim. According to NAR, home-buying opportunities are at their lowest level since 1985. The median household must spend 40% of its income to cover a median house payment. The homeownership divide has created a wealth divide. U.S. homeowners have a net worth of $400,000 while renters have a net worth of $12,000. According to the Fed, Americans 55 and older, predominantly

homeowners, increased their overall assets to $114 trillion last year — up from $84 trillion four years ago. Working class adults, households under 40, have a collective $15 trillion in wealth — a decline of 9% from 20 years ago.

A newly released study by the California Association of Realtors shows that only 15% of Californians are able to qualify for the state’s $813,000 median-priced home. California homebuyers needed a minimum annual income of $204,800 to qualify for a $4,190 monthly payment, including taxes and insurance, on a 30-year 7% xed-rate loan, assuming a $160,000 down payment.

Many working-class Americans feel they have been economically excluded from the opportunity of creating wealth through homeownership. This division between owners and non-owners will have societal and political repercussions. A generation that does not know the bene ts and responsibility of ownership will not have respect for individual property rights. Homeownership should unite us not divide us.

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

Saturday, May 18th & Sunday, May 19th 11am - 3pm

$740,000

This stunning 4 bedroom, 2-bathroom home offers unparalleled luxury living with an array of unique features. Situated on expansive horse property, this home is a sanctuary for both relaxation and hobby pursuits. There’s a full functioning salon or you can convert to another bonus room. From the moment you enter, you’ll be enveloped in an atmosphere of tranquility and sophistication, designed to enhance your relaxation and enjoyment. The expansive 4000 square foot workshop is a haven for car enthusiasts, craftsmen, and hobbyists alike. With the capacity to comfortably accommodate 6-8 cars, this space offers endless possibilities for storage, maintenance, and creative projects. Upstairs, a loft living area awaits, complete with its own AC system, offering a retreat for relaxation or additional workspace. Whether you need a quiet space to unwind or extra room for office tasks, this loft provides the perfect solution. Adjacent to the workshop are two horse stalls, providing convenient accommodation for equine residents. With easy access to the workshop and loft living area, this setup offers a perfect blend of functionality. Don’t miss out on this one!

Views that Take your Breath Away!

Thisis Lo y Haven and you will understand when you get here! e views from this beautiful 4 bedroom, 2.5 bath home will take your breath away. ere is something special about this private 11 acre Haven that can’t be put into words. e home is spacious, warm and inviting with all necessary living spaces on the main entry level. Open concept, large kitchen and family room with wood burning stove, set the perfect stage for entertaining or for quaint family gatherings overlooking the gorgeous views from inside and from the huge wrap around deck outside. Go downstairs and you’ll nd a great bonus room and 2 more bedrooms with plenty of space for family, friends or VHR. ere is a separate entrance downstairs as well as access to the lower deck with in-ground swimming pool. ere is even a tennnis court below the house! e property has plenty of outdoor recreation opportunities and a nice barn/workshop with a carport. is home has been loved and enjoyed as a personal vacation retreat as well as a successful VHR. Equipped with outdoor re sprinklers and annual clearance inspections, the property has been meticulously maintained and is ready for continued serenity and enjoyment.

inspections, the property has been

5,495 sq , 4-5 bd, 4 ba single-story gated equestrian estate atop the hill on 21 sprawling acres, 180-degree vistas of the breathtaking Sierras! Upon arrival, a custom gate welcomes you onto a winding park-like grounds. Towering mature trees & verdant lawns set the stage for an unparalleled lifestyle magni cent entry doors adorned with a magnifying glass, which beautifully frame the snowLuxurious marble oors gracing the formal entry and a formal living room boasting oor-to-ceiling panoramic Sierra views. roughout the residence, nearly every room boasts elegant French dining room perfect for unforgettable gatherings, while the executive o ce exudes sophistication shelvings. e chef’s kitchen is a culinary masterpiece, complete with a butler’s pantry, central mountain views. For the equine enthusiast, this estate o ers a massive dressage-style riding arena mountains, multiple pastures, a barn with 4 stalls, tack room, hay storage, and a wash rack. your cherished family estate, a haven to be treasured for generations to come!

$1,399,000 712 Lakecrest Dr 4 6 (3 3) 4187 0.28 224034393

$1,399,999 3185 Warren Ln 4 3 (3 0) 3138 0.25 223118399

$1,450,000 5326 Florentino Loop 5 5 (4 1) 3741 0.49 224043910

$1,450,000 5310 Bantry Pl 3 4 (3 1) 3016 0.19 224040494

$1,450,000 1014 Via Treviso #Lot 1 6 5 (5 0) 3788 0.52 224027004

$1,467,540 3271 Beatty Dr 5 5 (4 1) 4410 0.3535 223084956

$1,485,000 7062 Via Barlogio #Lot 3 5 5 (5 0) 3788 0.46 224023948

$1,500,000 3785 Hollow Oak Dr 3 2 (2 0) 956 9.21 223103119

$1,500,000 4040 Hawk View Rd 2 2 (2 0) 1200 9.24 223082075

$1,580,000 2023 Impressionist Way 3 4 (3 1) 3885 0.22 224048697

$1,595,000 750 Wyeth Ct 4 5 (4 1) 4038 0.22 224035488

$1,599,900 710 Wyeth Ct 5 5 (4 1) 4234 0.23 224046629

$1,650,000 391 Esatto Pl 4 3 (3 0) 4097 0.48 224050362

$1,750,000 1102 Lomond Dr 4 6 (5 1) 5527 0.8 224041564

$1,799,900 1807 Barcelona Ct 5 7 (5 2) 6011 0.7 224009629

$1,899,000 3350 Greenview 5 5 (4 1) 4889 0.45 224037717

$1,970,000 683 Encina Dr 5 5 (3 2) 4200 0.33 224045049

$1,980,000 1272 Van Gogh Dr 5 6 (5 1) 4382 0.2 224010522

$1,998,800 4101 Hawk View Rd 4 3 (3 0) 3512 9.36 224043058

$2,100,000 3071 Corsica Dr 5 7 (6 1) 5131 0.74 223117332

$2,150,000 4121 Greenview Dr 3 4 (3 1) 4509 0.48 223113721

$2,195,000 6016 Aldea Dr 4 5 (4 1) 4193 0.43 224041932

$2,195,000 4701 Gresham Dr 5 4 (4 0) 5288 0.73 224011513

$2,249,000 4103 Aristotle Dr 5 6 (5 1) 4720 1.14 224045400

$2,299,900 4940 Greyson Creek Dr 3 5 (4 1) 3615 0.58 224042384

$2,499,999 4205 Greenview Dr 4 5 (4 1) 4087 0.55 223106164

$2,550,000 4033 Raphael Dr 5 5 (5 0) 4213 0.48 223118525

$2,599,000 1111 La Sierra Dr 4 4 (3 1) 5504 1 224005076

$2,624,900 4950 Greyson Creek Dr 4 6 (5 1) 4163 0.48 224040493

$2,695,000 3268 Bordeaux Dr 4 6 (5 1) 5084 0.52 224041745

$2,698,000 5047 Da Vinci Dr 5 5 (4 1) 6182 0.51 224029151

$2,778,000 613 Thalassa Ct 6 5 (4 1) 5845 0.71 224040717

$2,840,000 7517 Sangiovese Dr 5 5 (4 1) 4943 0.73 224040137

$2,899,000 5263 Da Vinci Drive 4 5 (4 1) 4561 0.62 223114957

$2,997,000 10 Powers Dr 4 6 (4 2) 5378 0.6 224038620

$2,998,000 890 Las Brisas Ct 5 6 (5 1) 4272 0.72 224002603

$2,999,999 4991 Greyson Creek Dr 5 5 (5 0) 4013 0.9 224027860

$3,099,000 5011 Greyson Creek Drive 4 6 (5 1) 4865 0.46 223105112

$3,200,000 4901 Greyson Creek Dr 4 5 (4 1) 4398 0.49 223094679

$3,238,000 4773 Gresham Dr 5 6 (5 1) 4965 1.08 224003473

$3,389,000 4240 Raphael Dr 5 6 (5 1) 5319 0.54 224006620 $3,499,999

6451 1.46 224038804

$3,750,000 1401 Fredlena Ln 3 4 (3 1) 5020 3 224026399

$986,000 3309 Foxmore Ln 4 4 (3 1) 2972 0.28

12604 Residential Homes resCue/luneman

$659,999 3545

$1,099,000

$1,150,000 2175

$1,249,000

$1,449,000 4410

$1,485,000

$1,498,555

$1,600,000

12701 Residential Homes Greater PlaCerville

$1,695,000

$479,500

$349,900

0.41 224010804

$435,000 6810 Ant Hill Rd 3 2 (2 0) 1702 10.46 224016889

$495,000 5401 Mayfair Ln 3 2 (2 0) 1600 1.6 223078845

$530,000 6261 Grizzly Flat Rd 4 2 (2 0) 2236 2.24 224033385

$559,000 5600 Siesta Ln 3 3 (2 1) 2359 0.63 224020070

$625,000 4361 D Agostini Dr 3 2 (2 0) 1865 123.48 224047501

$630,000 7701 Dorado Canyon Road 3 3 (2 1) 2452 10 224013171

$639,900 5401 Cosumnes Mine Rd 5 3 (3 0) 2044 13.76 223117426

$669,000 8170 Grizzly Flat Rd 3 2 (2 0) 1646 3.91 224029663

$675,000 7621 Fairplay Rd 2 1 (1 0) 2048 27.58 224049494

$777,000 8700 Grizzly Flat Rd 3 4 (3 1) 2672 10.02 224048794

$849,900 3200 Horseshoe Bend Rd 3 2 (2 0) 1740 10 224043248

$1,090,000 5021 D Agostini Dr 3 4 (3 1) 3453 19.49 224005969

$1,100,000 7081 Somerset Drive 3 4 (3 1) 3301 10 224012773

$1,125,000 6148 Happy Valley Rd 2 2 (2 0) 1156 41.58 224041704

$1,350,000 3000 Springhill Rd 3 3 (2 1) 2500 10.16 224019890

$1,795,000 8221 Stoney Creek Rd 1 1 (1 0) 990 39.61 222080803 $1,899,000 7449 Fairplay Rd 2 2 (1 1) 3790 14 224025953

12705 Residential Homes

Coloma,

12802 Residential Homes PolloCk Pines

$440,000 6175 Salmon

$450,000 6193 Speckled Rd

$465,000 5301

$485,000 6155 Kokanee Ln

$490,000 6441 Zircon Dr

$495,000 5378 Robert Rd

$499,950 2970 Deep Haven Rd

$510,000 4941 S Pine Tree Ln

$515,000

224049366

224028984

This Gorgeous 4 bd/3 ba, home is on 10 scenic acres in the heart of Gold Hill. Light & airy is the best way to describe this well crafted home, with an indoor atrium, Vaulted Ceiling. Skylights & Walls of windows. Cool off in the summer in an inground pool. There are 3 separate living areas, with a walkin basement, that has a

bar and a full bath. This area could easily be

in-law quarters. First time on the market.