- TIOGA PASS OPENING!
- BASS LAKE WATER LEVEL UPDATE
- SHOULD YOU BUY OR SELL A HOME IN 2023?
- UPCOMING BASS LAKE EVENTS
- UPCOMING YOSEMITE EVENTS
- UNDERSTANDING AN ARCHITECT’S ROLE
- MORE HOMES SOLD
TIOGA PASS OPENING!
Yosemite National Park announced that Tioga Road will open this Saturday, July 22 at 8:00 AM!
You can see their announcement via their Facebook post here including a video showing the effort involved in opening the road after this record-breaking winter.
We cannot expect the normal conditions in the high country that we usually do in the summer, so it is advisable to prepare your guests regarding the following :
There will be one-lane traffic controls in some areas of road damage (east of Olmsted Point).
There will be no water or food services available.
Rest facilities will be vault and portable toilets only.
Snow and flooding may be present on some trails so use caution.
No campgrounds are open at this time (only Tamarack Flat and Porcupine Flat are planned to open this year, no estimate on when that will be yet).
I’m sure you’re all as grateful, as we are, that Yosemite’s High Country will be soon accessible!
Melinda Rich
Administrative Assistant
Visit Yosemite | Madera County
40343 Highway 41
Oakhurst, CA 93644
(559) 683-4636
BASS LAKE WATER LEVEL UPDATE
As of July 20, 2023, the Bass Lake water level is – 2’ 8” @ 3374’. The lake is continuing to fill from the snow and storm run-off from earlier in the year.
SHOULD YOU BUY OR SELL A HOME IN 2023?
Here’s N.A.R.’s Housing Forecast for the Rest of the Year :
What A Difference A Few Months Can Make In The Housing Market
Late last year when Realtor.com® issued its housing forecast for 2023, our economics team believed the number of homes for sale would jump substantially and home prices would continue climbing.
Clearly, not all of our predictions came true.
That’s why Realtor.com has revised its forecast to reflect some new
realities in the housing market that are having an outsized impact on buyers struggling with higher costs, and sellers reluctant to give up their rock-bottom mortgage rates.
“It was a good time to check in and update our forecast,” says Realtor.com Chief Economist Danielle Hale.
“We made a bold call that home prices wouldn’t go down in 2023, and with the latest data, we’re revising that projection.”
The big takeaway for the second half of the year is that, while home prices, mortgage interest rates, and rents will come down a little bit, most folks won’t see much relief.
There won’t be any big price drops reminiscent of the Great Recession.
Realtor.com® is anticipating median home list prices will dip 0.6% in 2023 compared with 2022.
Originally, we had anticipated that prices would rise 5.4%. (This is only for existing homes and doesn’t include new construction.)
Even a small decrease is a departure from years of steadily climbing prices.
Last year, home prices shot up 10.2% year over year.
“We’re seeing more divergence between how local housing markets are doing,” says Hale. “In areas that are more affordable, we’re seeing more buyer interest, more sales, and more competition keeping prices high.”
Lower Mortgage Rates Will Help Stimulate The Housing Market
Prices aren’t the only things headed south.
Mortgage interest rates are expected to decrease to 6.1% by year’s end.
Realtor.com had expected they would be around 7.1% by the end of 2023.
The U.S. Federal Reserve is expected to moderate the rate hikes that have caused mortgage rates to soar and, in turn, bludgeoned the housing market.
Now that inflation is slowing, that’s taken some of the pressure off of the Fed to raise its rates. The Fed has indicated there might be two more rate increases this year.
Once the Fed’s rate increases are done, mortgage rates are poised to fall a little.
“It means affordability will start to improve, but not drastically,” says Hale.
Fewer Homes Are For Sale
The Realtor.com economics team had predicted that the number of homes on the market would surge as homes took longer to sell to fewer buyers.
However, that didn’t work out as expected.
Homeowners who scored ultra low mortgage rates over the past few years have been loath to list their homes and give up those rates.
So they’ve stayed put, keeping inventory low.
“The lock-in effect has been stronger than we anticipated,” says Hale.
“That’s going to improve gradually over time. The longer existing homeowners are in their homes, even if they have a low mortgage rate, the more likely it is their current home won’t meet their needs. They’ll also have more equity that will cushion the blow” of buying a new home with a higher mortgage rate.
* Condensed article courtesy of Realtor.com® AND National Association of REALTORS® (N.A.R.)
Bear in mind that real estate is local. For market trends and the most current information, contact your local Bass Lake Realty professional REALTOR®.
UPCOMING BASS LAKE EVENTS
SUMMER VIBES – LIVE MUSIC DAILY
Marina Bar & Grill at Bass Lake Boat Rentals
Daily through September 3, 2023
12:00pm -3:00pm & 6:00pm – 9:00pm
KARAOKE THURSDAYS
Thursdays at the Pines Bar through September 28, 2023.
LIVE MUSIC FRIDAYS AND SATURDAYS
The Pines Bar, through September 30, 2023
BASS LAKE LIVE MUSIC & DINNER
The Pines, July 27, 2023 – 6:30pm – 10:00pm
UPCOMING YOSEMITE EVENTS
ART CLASSES WITH THE YOSEMITE CONSERVANCY
Mondays July 3 – August 4, 2023. 9:00am to 1:00pm.
Happy Isles – NOTE: Advance reservations required
WOMEN’S ROCK & YOGA CAMP
July 20, 2023 – July 23, 2023. 9:00am to 1:00pm.
Yosemite : Advance reservations required.
ALES & TRAILS PACK SUPPORTED TREKKING W/SYMG
July 26, 2023 – July 30, 2023
CLICK HERE FOR MORE BASS LAKE YOSEMITE AREA EVENTS . . .
UNDERSTANDING AN ARCHITECT’S ROLE
California law defines the practice of architecture as the planning of sites and the design, in the whole or in part, of buildings or groups of buildings and structures.
This can include projects such as adding a second story to a house or increasing a house’s footprint.
Anyone who uses the title “architect” (or any term confusingly similar), or advertises to provide architectural services in California, must be licensed by the California Architects Board (CAB).
A license can be easily checked on the CAB website, https://cab.ca.gov/.
When considering hiring an architect, please be aware that some structures do not require the services of a licensed architect.
Non-architects can design single-family dwellings of wood-frame construction not more than two stories and basement in height.
CAB has a helpful Design Limitations Chart of various project types and the relevant design limitations for architects, civil engineers, and structural engineers.
The charts also includes information about the types of buildings that unlicensed individuals can design, unless the local building department deems that doing so would involve an undue risk to health, safety, and welfare.
CAB has publications and videos with tips about hiring an architect that may be helpful for you.
Consumers Guide to Hiring an Architect
10 Tips for Hiring an Architect
Additionally, CAB has a video that provides important information for those interested in building an accessory dwelling unit (ADU) on their property.
If you have any questions related to architects and their scope of practice, please contact CAB at 916-574-7220 or cab@dca.ca.gov.
* Article courtesy of the California Architects Board
MORE HOMES SOLD BY BASS LAKE REALTY
52946 Timberview Road North Fork, CA 93643-9653
53819 Road 432 Bass Lake, CA 93604
$85,000 over list price!
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Thanks much,
Your Bass Lake Realty Team