Like a lot of private money mortgage companies in this economy, we have had foreclosures and have REO properties for sale.  We have been able to sell them (slowly) at acceptable prices that benefit everyone, so far.  We look forward to the future when we do not have any property for sale.

Now let us take a quick turn to politics, since we will be electing a new Governor in November.  According to the LA Times on Sunday, September 26^th, Brown leads Whitman 49% to 44%.  The two debated this week, one of four debates scheduled.  It will be interesting to see the final outcome, as this will have a great impact on California’s financial economy.

Since we mentioned the Sonoma County Harvest Fair and wine tasting held this weekend, we feel the need to give beer a nod also.  The Cotati Oktoberfest will be held October 9^th, featuring beer, German food and a Bavarian band; call 707-795-5508 for more information.

BaySierra Financial is our name and Private Money transactions is our game; we are now in the process of producing documents for a $2.6 Million loan.  Also, in the works is a $300,000 loan request on a service station.

There is interesting news on the housing market.  One opinion is that California is seeing “glimmers of stability” and that coastal cities are seeing prices climb even more.  Another opinion is that the housing recession isn’t over yet but it is felt that the housing market may have bottomed out.  For housing to turn a decisive corner, the inventory overhang has to dissipate-this may take one or two years.  We’ll have to see how this information pans out.

It is officially the end of Summer and now we are in Fall.  One of the great events of our area is the Sonoma County Harvest Fair, October 1st thru October 3rd, with 3 days of wine tasting with 150 plus wineries, chef demonstrations, microbrew tasting (saturday only), grape stomp, continuous live jazz, art show and more.  See http://Harvestfair.org for more information.

Even though economic news lately is not always positive, we do have some examples of “best recovery bets” (per CNNMoney.com) in Housing.  Seattle’s unemployment rate is 8.8%, median home price is $371,000 and a forecast gain by 2011 is expected to be 3.8%; San Francisco’s market is expected to gain by 4.8% in 2011.  So, perhaps we will see improvement soon, even if it is small.

A new $ 41 Million research facility is on track to be completed by late March 2012 for the Buck Institute for Age Research in Novato.  This project is bringing 200 construction jobs.  So, it is good to see new construction in our area.

Well, enough fundraisers for cats and dogs.  A free family event on Saturday 9/25 is the Hill on Wheels Car Show and Festival – it includes a 9 category car show, chicken B-B-Q, music, etc.; for more information call 707-763-2454.

Our private money finance industry is still hard at work, seeing above-average quality loan requests, since the local banks are being very selective.  We just funded a loan of $1,425,000 on a property in Napa, with a less-than 50% loan-to-value.

There are some new licensing requirements for residential lenders that are supposed to benefit the customer; we’re not so sure about that but perhaps it will weed out some folks that need to be in a different line of work.

Since we mentioned a fundraising event last week for canines, it is only appropriate to let you know of a fundraiser for feline rescue – Wine Country Cats Dinner & Auction on September 18^th; for more information call 707-494-5544.

To continue with the good news, California, along with Indiana, has received the most benefit of all the states of “transportation stimulus projects”.  California stands alone as the largest benefactor of “transportation stimulus spending”.  The stimulus funding has created the largest number of jobs for California of any other state; unfortunately, our state unemployment rate is still one of the 4^th highest in the nation (according to CNNMoney.com).

Well, Sonoma County is experiencing some changing of the colors of leaves on the trees, indicative of Fall weather.  A fun up-coming event in our area is the Canine Companions for Independence, 2^ndAnnual Bone Appétit on Sunday, Sept. 12^th from 2 to 7 pm; for more information call 800-572-2275.