Live Like a Local by The Joel Toller Team

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The Joel Toller Team

The Joel Toller Team

Summer, 2017

Hello, friends --

Summer has officially kicked off with the hugely successful Auction Napa Valley, which raised $15.7 million!  Thanks to the vintner community, our local non-profits are better able to help those in need in our valley.  

Can you believe that the year is almost half over?  We took a look at some 2017 real estate predictions vs. reality in the analysis below and discovered a few surprises.  

Check out the events we've gathered to add to your list of summer activities.  Get out there and listen to some tunes, grab some great food and wine, and enjoy our beautiful valley!  And, of course, July 4th is right around the corner.  Make your plans to watch the fireworks at one of the celebrations in the county.

As always, I appreciate your friendship and your business. Please feel free to contact me at any time to discuss your real estate needs.

Cheers,

 

 

Real Estate Roundup

With 2017 almost at the midway point, we thought it would be interesting to compare some nation-wide real estate predictions with actual real estate activity in the Napa Valley. In a Forbes article dated January 3rd, 2017, the following 8 predictions were made. Let's see how they stack up:

Forbes Prediction Napa Valley Reality
1. Prices will continue to rise, but slowly True - According to MLS stats, the average home price in Napa County is up about 10% over this time last year.
2. Affordability will worsen Definitely true! Unfortunately, we don't have enough inventory of affordable homes in Napa Valley. We hope to see that change as cities approve more projects.
3. Mortgage rates will be volatile True - Mortgage rates have been moving, with recent rates up a bit this month.
4. Credit availability may improve Possibly - It remains to be seen if lenders will loan more freely if regulations are lessened. It is still important for home buyers to get pre-qualified prior to looking for a home.
5. Supply will improve, but remain short False - We don't expect supply to improve much, if any.
6. More Millennials will become home buyers False - Although this might be occurring elsewhere in the country, Millennials (buyers under 36 years of age) aren't typically able to afford the average priced home in Napa Valley.
7. Competition will grow fiercer Somewhat - If a property is priced right, we have certainly seen multiple offers. However, properties that are priced over market still take longer to sell.
8. Political uncertainty will be replaced with policy uncertainty True - We've yet to see if/how policies will impact real estate sales.  Stay tuned...

 

Featured Listing: Modern Craftsman in Vineyard Setting

5442 Trubody Lane, Napa

Newly renovated 3 Bed/2 Bath Craftsman home set back on 3.6 acres offers vintage charm, modern amenities along with your own 1 acre of Cabernet. Surrounded by vineyards, rose gardens and mature oaks, the property provides peace and quiet. A private tree-lined entrance completes the country living ambiance. Centrally located between Yountville and Napa and only a few minutes from all of Napa Valley's restaurants, wineries and shops. Truly special.

 

Real Estate Roundup
What's New?

Congrats to Christopher Kostow and Nathaniel Dorn on the opening of The Charter Oak, a new restaurant at 1050 Charter Oak. We were honored to be invited guests at a pre-opening "workshop" and can report that the offerings are delicious!  The bar serves up classic cocktails and a menu that includes a burger, wings and a fried chicken sandwich.  Go. Now.

If you haven't checked out the CIA at Copia yet, put it on your list of summer activities with the family. Every Sunday is Family Funday with hour-long cooking demonstrations, followed by samplings of that day’s topic. After your class, check out the gift store where St. Helena ceramicist, Amanda Wright, sells her beautiful pottery.

Owners of the Napa Valley Wine Train have submitted plans to the city for a new resort to be built on 3 acres in the Oxbow area of downtown Napa. It was reported that there is to be a 5-story, 148-room resort with a rooftop pool, restaurant, tiki bar and a full-service spa and gym.

What's New?
Happenings

Celebrate the local bounty by visiting one of the many summer Farmer's Markets:

  • Calistoga - Saturdays from 8:30 - noon at Sharpsteen Plaza
  • St. Helena - Fridays from 8:00 - 1 pm in Crane Park
  • Napa - Tuesdays and Saturdays from 8 - 12:30 pm at 195 Gasser Drive

 Bagpipes & Stogies at Silverado Country Club

Starting June 17th, each Friday and Saturday at Sunset enjoy the soulful sounds of the bagpiper, signaling a golf course tradition of day's end. Enjoy a stogie and scotch for $25 at the Mansion Lounge and Terrace overlooking the 18th green of the South Course.

27th Annual Father’s Day Invitational Auto Show

The Napa Valley will welcome car connoisseurs from around the Bay Area and beyond as V Marketplace in Yountville hosts the 27th Annual Father’s Day Invitational Auto Show on Sunday, June 18, 2017 from 10:00 a.m. to 3:00 p.m.  The event is Free to the Public.

Summer Solstice Yoga at Robert Mondavi Winery

Celebrate the Summer Solstice with an evening of yoga at Robert Mondavi Winery on June 20th from 6:15 - 8:30 pm.  Following the 75-minute practice, you will savor the sunset and cool down with a glass of wine accompanied by healthy treats. Instructor Tim Gaskell has been teaching yoga in Napa for 20 years. What to bring? Yoga mat or large towel, comfortable layered clothing, water and props, if needed. Price is $35.

Dine & Donate with Clif Family Winery at Velo Vino

Join us on Wednesday, June 21st from 4 - 7pm at the Clif Family Tasting Room and the Bruschetteria Food Truck.  20% of sales made will be donated to UpValley Family Centers.

July 4th Celebrations:

Napa 

The day starts with a parade at 10:30 a.m. down 2nd and 3rd streets, followed by a festival at 1:00 p.m. with activities at the Oxbow Commons. The best places to watch the fireworks will be from Veteran’s Park, Oxbow Commons or the Riverfront promenade.

St. Helena 

The fireworks show will be launched from Crane Park at 9:00 p.m. The show will be visible to revelers throughout St. Helena. The public is welcome to picnic, bring lawn games and view the fireworks from inside the West Baseball field located in Crane Park. 

Calistoga  

The Napa County Fair runs through the holiday weekend and will have fireworks on July 4. The parade starts at 11:00 a.m.in downtown Calistoga and, fair gates open at 12:00 p.m. Fireworks will launch at dark. Pricing is $20 general admission to the fair and $15 kids 12 & under. 

Happenings