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Yosemite Update March 3 2021

March 3, 2021 by Beth Carver

No Reservations Needed for Yosemite

Good Morning. NO RESERVATIONS needed for entering Yosemite National Park. It looks like we might have a change in the weather later this week or early next week. Attached is the Daily and Weather Reports along with this week’s SKAT.

Half Dome Cable Reservations

The Half Dome cables are put up each spring and taken down each fall, typically from the Friday before Memorial Day through the Tuesday after Columbus Day. These dates are conditions dependent and may vary from year to year.

You must have a permit to ascend the sub-dome steps and Half Dome cables. Permits are available by two lottery processes. The preseason lottery application occurs throughout March, with results announced mid-April. A smaller number of permits are available every day the cables are up, via a two day in advance daily lottery.

Yosemite Daily Report, Weather Report, March 2021 SKAT Issue.

Click for a PDF of :

Yosemite Daily Report. Weather Report. March SKAT Issue.

Filed Under: News

Bass Lake Yosemite News February 2021

February 23, 2021 by Beth Carver

State of the Lake

Dock in the Water at Bass Lake February 2021

Cleanup efforts continue after the wild windstorm described in January’s Bass Lake Yosemite News. Fortunately, there were no reports of injuries, amazing considering the damage from falling and uprooted pines, cedars and oaks. Good progress has been made despite the (wonderful) rain and snow we experienced last week and over this past weekend.

The lake level remains consistent at 50% of capacity which is normal this time of year. On April 1, the boards will be put in the spillway and the lake level will begin to rise as snow in the high country begins to melt. Here is a photo of Marina View in the off season.

Bass Lake California Levels Feb 2021 Picture of fishing on the lake from Bass Lake Realty
Fishing on Bass Lake California February 2021

Good news for those who love to fish: the Bass Lake Fishing Derby will be held May 1st and 2nd this year. Registration is ONLINE ONLY this year and opened Feb. 5. Register by April 15th to be guaranteed your 2021 Fishing Derby hat and to receive a “Swag Bag” full of goodies. Here is the link to sign up: Bass Lake Chamber Fishing Derby.

Daylight Saving Time!

Don’t forget to spring forward March 14, 2021.

Picture of a Clock and Flowers with text that says Daylight Saving Time Don't Forget to Spring Forward from Bass Lake Realty

Active Residential Listings YTD Comparison

Active Residential Listings YTD Comparison 2020-2021 Chart Image from Bass Lake Realty February 2021 Bass Lake Yosemite News

Active Residential Listings as of Feb 17, 2021

Active Residential Listings as of Feb 17, 2021 Chart Image from Bass Lake Realty February 2021 Bass Lake Yosemite News

Proposition 19

To assist taxpayers, below are comparison charts of current law and the effects of Proposition 19 (PDF), as approved by the voters in the November 2020 election. Anyone contemplating such a transfer should seek legal and accounting advice.

Prop 19 Parent Child Grandparent Chart Image from Bass Lake Realty February 2021 Bass Lake Yosemite News
Prop 19 Base Year Value Transfer Chart Image from Bass Lake Realty February 2021 Bass Lake Yosemite News

Click for PDF of Newsletter
© 2021 Bass Lake Realty Inc
(559) 642-3610
54335 North Shore Rd 432 / #349
Bass Lake California 93604

Filed Under: News

Bass Lake Yosemite News January 2021

February 2, 2021 by Beth Carver

Happy Valentine’s Day!

Happy Valentines Day Graphic Box with Hearts Exploding Out Bass Lake Realty

Local knowledge works in your best interest…

And so do we!

Call 559-642-3610 today for your free home evaluation.

State Of The Lake

Updated January 28, 2021 at 11:00 am

Mother Nature decided to serve up some strong weather the past couple of weeks at Bass Lake and the surrounding areas of Eastern Madera County.

Monday January 18th we experienced an unusually powerful Mono wind event. Steady winds overnight along with gusts rumored but not confirmed up to 100 mph wreaked havoc in Eastern Madera County. Bass Lake was hit especially hard, with dozens of trees snapped in two or uprooted. Tuesday morning revealed the damage, as many pines and cedars had smashed into homes and knocked out power lines. Fortunately there have been no reports of injuries or deaths.

Power was out in various locations for up to 8 days due to the storm. PG&E trucks were on site for over a week, and crews from outside the area were brought in as reinforcements.

Power was finally restored at our Bass Lake Realty office on Monday the 25th. Agents and staff worked at home as much as possible during that week, subject to the whims of power and their internet service.

The outage caused a delay in distribution of this newsletter, for which we apologize.


2021-02-02-home-with-tree-crushing-bass-lake-realty-409x304-1

After surviving the wind phenomenon, a series of winter storms impacted our mountain area. This past Monday January 25th brought 8 or 9 inches of snow to the lake, and Wednesday saw about the same amount. Wednesday night it turned to rain; then Thursday it couldn’t decide if it wanted to rain, sleet, or snow. Eventually it all became a sleety, sloppy mess.


2021-02-02-snowy-bass-lake-home-bass-lake-realty-451x603-1

Burn scar areas from the Creek Fire are currently under a flood advisory and evacuation warning due to the heavy rains expected Thursday, creating potential for debris/mud flow. The evacuation warning area includes Kinsman Flat Subdivision, Saginaw Creek Subdivision, and Cascadel Woods Subdivision.

After all of this weather drama, you will want to be sure your gutters, downspouts, and drains are cleared of debris.

The lake has stabilized at 50% full, normal for this time of year.

Bass Lake Real Estate Sales Market Share by Total Volume Pie Chart and Average Sales Price 2019-2020 Bass Lake Realty
Bass Lake Real Estate Sales Market Share by Total Volume and Average Sales Price 2019-2020 Bass Lake Realty

Mortgage Update January 19, 2021

Recently Nick Schneider, Manager of Yosemite Mortgage in Oakhurst, updated our local Realtors on changes in mortgage lending for 2021.

The important conforming loan limits for Madera, Fresno, and Mariposa Counties have been increased. Conforming loans are those at or below limits set by the Federal Housing Finance Agency and which meet certain funding criteria. Amounts differ for different counties in the state.

The limit for conventional, single family residential loans is now $548,250, an increase of over $38,000 above 2020 limits. Loans greater than that figure are considered Jumbo loans, generally subject to higher interest rates and tougher qualifications. For FHA, VA, and USDA loans the highest loan amount available for the 3 counties is $356,362, an increase of nearly $25,000 over 2020.

2021 ushered in record low interest rates, at a 2.65% average rate for a 30 year fixed loan. Interest rates have crept up recently, but are expected to remain low throughout 2021. Lower interest rates also mean increased housing affordability, as more people can qualify for financing.

A few notes regarding our local real estate market, from Beth Carver, Managing Broker of Bass Lake Realty:

We are in a perfect storm seller’s market, experiencing extremely low inventory, very high demand, and historically low interest rates. As of January 28, 2021 there are just 9 homes for sale at Bass Lake and 13 in Oakhurst. Multiple offers on a single property just listed are frequent throughout the mountain area, as are offers above the list price.

Buyers who are interested in purchasing in our Eastern Madera County locations should be prepared to provide evidence of loan qualification and/or cash to purchase when submitting an offer. When new listings come onto the market, those buyers who plan ahead have a better chance to prevail and obtain acceptance of their offer.

Sellers also need to plan ahead by choosing a professional Realtor who is familiar with the local real estate market in order to price their property accordingly and guide them through the selling process.
 

RE and COVID

CLICK FOR COVID-19 RE BEST PRACTICES..

As California moves through the stages of COVID reopening, you may find this list of local restaurants and businesses helpful if you come up to the mountain area. Click here..

Click here for State of California Covid info..

Remember, if you are planning a trip to the mountain area, click here for a list of OPEN restaurants currently offering curbside / take out service, open shops, & open beverages.

As questions arise, feel free to call, text, or hit reply with any questions so that we can all remain safe while meeting your real estate requirements.

Call, text (559) 642-3610, or hit reply with any questions!

YOUR Bass Lake Realty Team

Click for Featured Properties

Bass Lake Realty Inc
Serving You Since 1970
www.BassLakeRealty.com
Real Estate Sales
Property Management
+1 (888) 220-8633
+1 (559) 642-3610
54335 Rd 432 / #349
Bass Lake CA 93604
DRE License Number 01477156

Filed Under: News

Happy New Year 2021!!

December 31, 2020 by Beth Carver

Happy New Year 2021 Fireworks Image over Bass Lake from Bass Lake Realty
Happy New Year 2021! Photo Courtesy of Darv Atkeson

Wishing you and yours all the best in a very welcome New Year 2021!!!

Filed Under: News

Bass Lake Realty News December 2020

December 17, 2020 by Beth Carver

Bass Lake Realty December 2020 Newsletter Header Image JPG

Warm Holiday Wishes this Holiday Season!

Warm Holiday Wishes 2020 this Holiday Season Image Bass Lake Realty

Local knowledge works in your best interest…
And so do we!
Call 559-642-3610 today for your
FREE home Evaluation!

Market Share by Total Dollar Volume Bass Lake Residential Sales YTD 2020

Market Share by Total Dollar Volume Bass Lake Residential Sales Image Bass Lake Realty 2020 YTD
Bass Lake Realty California YTD 2020 Real Estate Data
Average Sales Price 2019 to 2020 YTD Image Bass Lake Realty
Average Sales Price 2019 to 2020 YTD Image Bass Lake Realty
Santa and Elves Holiday Spirit Image Bass Lake Realty
The Holiday spirit is on full display this year in the Pines Village park at Bass Lake with inflatable characters wishing everyone Happy Holidays.

December 17, 2020

What Does the Potential Passage of Prop 19 Mean?

By: D. Keith Dunnagan, Esq.
November 17, 2020

Property tax portability (Statewide Proposition 19) was on the ballot this year. As of today, the measure appears likely to pass with approximately 51.1% of the current vote tally. Proposition 13 (1978) has shaped the way property taxes are calculated for homeowners in California for decades, by allowing parents to pass their property to their children while keeping their same property tax basis. However, as property values have increased statewide, seniors who wanted to downsize sometimes felt trapped in their home. Changing homes in many cases meant increased value and increased taxes. Seniors on fixed incomes could not afford the increased property tax.

Prior to Prop 19, only a few California counties allowed seniors to transfer their property tax basis to a new home in the new county. Most counties prohibited such transfer of an existing tax basis. This was one of the key selling points for proponents of this year’s Prop 19. While it appears likely to pass, the election will not be certified until December 11, 2020, and there are still outstanding ballots to process. But assuming Prop 19 passes and becomes law, what does it mean for California property tax issues?

First, Prop 19 would allow a property tax basis transfer between counties for three groups of people: individuals that are (1) over the age of 55; (2) severely disabled; or (3) victims of wildfire or natural disaster. To transfer the tax basis, the eligible individual must acquire a replacement property at or below the full cash value of the current home. If the replacement property has a full cash value that exceeds the value of the replaced property, the new tax basis would be calculated by adding the excess value to the cash value of the new property for property tax purposes. The individual must claim the homeowner’s exemption at the time of the purchase or transfer in order to avoid reassessment, but there is a one-year cure period.

Second, Prop 19 changes the tax basis for inherited property. Under existing law, property transferred between parent and child was always exempt from reassessment. Under Prop 19, if passed, transfer of properties between parent and child will retain its current property tax basis only if it is maintained as a primary residence by the child. If the child does not maintain its primary residence in the transferred property, the property will be reassessed for tax purposes. This means, for example, that if mom and dad transfer a rental property to their child and that child maintains its rental/investment property characteristic, it would be subject to reassessment.

Now, you might be wondering, what happens to properties that were transferred between parent and child prior to the passage of Prop 19 that are used as rental property. Let’s say, mom and dad transferred their primary residence to their child in 2013 and that property has been consistently used as a rental property since the child received it — will it be subject to reassessment now? That is a good question, and it may take some test cases to make it through the courts before we know for sure. But, based upon the text of the Proposition, it seems that this situation would not result in a reassessment. Sec. 2.1(d) states: “Subdivision (h) of Section 2 [which exempts a transfer of a principal residence to a child and does not require a child to maintain the use as a primary residence] shall apply to any purchase or transfer that occurs on or before February 15, 2021 (effective date), but shall not apply to any purchase or transfer occurring after that date.” Thus, it appears that a child could receive mom and dad’s primary residence prior to the effective date and keep the parents’ property tax basis without being required to maintain the property as a primary residence.

However, if the same scenario transfer occurred after the effective date, the child would have to maintain the received property as a principal residence to maintain the property tax basis. Sec. 2.1(c)(1) of Prop 19 specifically requires that “the property continues as the family home of the transferee.”

One thing is certain, if you are considering an inter-family transfer in the foreseeable future, there may be some tax benefits to completing that transfer before the effective date of Prop 19. The attorneys at BPE Law have significant experience in advising realtors, investors and property owners related to their real estate needs and goals.

The information presented in this Article is not to be taken as legal advice. Every person’s situation is different. If you are facing a legal issue of any kind, get competent legal advice in your State immediately so that you can determine your best options.

Bass Lake Realty Newsletter Footer JPG Image of Real Estate Team
Your Bass Lake Realty Team

Click for Real Estate Search

Click for PDF of Newsletter

Click here for State of California Covid info..

Remember, if you are planning a trip to the mountain area, click here for a list of restaurants currently offering curbside / take out service, open shops, & open beverages.As questions arise, feel free to call, text, or hit reply with any questions so that we can all remain safe while meeting your real estate requirements.Call, text (559) 658-1784, or hit reply with any questions!

YOUR Bass Lake Realty Team

Click for Featured Properties

Bass Lake Realty Inc
Serving You Since 1970
www.BassLakeRealty.com
Real Estate Sales
Property Management
+1 (888) 220-8633
+1 (559) 642-3610
PO Box 349
(Mailing address.)
54335 Rd 432
(Physical address.)
Bass Lake CA 93604
DRE License Number 01477156

Filed Under: News

Happy Thanksgiving 2020!

November 26, 2020 by Beth Carver

Pumpkin and Autumn Leaves Image with Thank You Card Bass Lake Realty

Happy Thanksgiving!

Thank you from all of us here at Bass Lake Realty. Wishing you and yours all the best in the coming Holiday Season and in all things!

Your Bass Lake Realty Team

www.BassLakeRealty.com

Real Estate Sales
(888) 220-8633

Bass Lake Realty Inc
PO Box 349
54335 North Shore Road
Bass Lake CA 93604
BRE License Number 01477156

Filed Under: News

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