Monday, November 29, 2010

Eberle Cabernet - Susan Allen's Wine Pick of the Month #2

 
This month's wine pick comes from Eberly Vineyards in Paso Robles, CA. Eberle winery has been handcrafting their wines since 1979. And, after more than 25 years since the release of the Eberle label, the winery consistently remains one of the highest award-winning wineries in the United States. Enjoy our pick!
 

2006 ESTATE CABERNET SAUVIGNON


harvest conditions

2006 proved to be one of the longest harvests on recent record. The growing season maintained a consistent climate allowing fruit to fully mature through the warmer temperatures in mid-October. Late season rains had very little impact on the quality of overall fruit, but managed to lengthen time of harvest. In general, yields varied depending upon the varietal and with lighter crop loads being harvested; only the best quality fruit was picked. Other ‘quality indicators’ include smaller berries and longer hang time, increasing the concentration and flavor of the fruit.



fermentation


After the fruit was crushed and de-stemmed, the juice was transferred to stainless steel tanks and inoculated. During fermentation, the must was pumped over twice daily for color and flavor extraction. Following pressing, the wine was gravity fed into the underground caves and aged for eighteen months in 100% French oak barrels, 25% new. The final wine was left unfined and unfiltered for bottling.
 

wine description

Since 1979, Eberle’s flagship Estate Cabernet Sauvignon continues to showcase 100% varietal characteristics from our thirty year-old Estate Vineyard. Displaying a flavorful deluge of rich black currant, dark cherry and hints of mochas wrapped in velvety tannins, this wine is an exquisite cellar addition with a reputable history of ageing gracefully.
 

food pairings
 

A robust Cabernet exhibiting an ‘old world’ elegance that is truly enhanced when paired with hearty dishes layered with flavor and texture. The lush, dark berry fruit balanced by notes of oak and velvety tannins of Eberle’s Estate Cabernet are complemented by a filet mignon with a reduction sauce, roasted leg of lamb or a taste of Gary Eberle’s famous barbecued pork ribs!


technical notes

variety: cabernet sauvignon

appellation: paso robles 
vineyard: estate 
alcohol: 15.0%
acidity: .65 

ph: 3.48 
residual sugar: <0.05% 
brix at harvest: 25 ̊ 
date harvested: 10/12/06 
cases produced: 3468 
retail price: $34.00

Check out Eberle Winery at http://www.eberlewinery.com/
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Monday, November 22, 2010

California October Home Sales

An estimated 32,669 new and resale houses and condos were sold statewide last month. That was down 1.5 percent from 33,176 in September, and down 20.9 percent from 41,280 for October 2009. California sales for the month of October have varied from a low of 25,832 in 2007 to a high of 70,152 in 2003, while the average is 43,938. MDA DataQuick's statistics go back to 1988. 

The median price paid for a home last month was $256,000, down 3.4 percent from $265,000 in September, and down 0.4 percent from $257,000 for October a year ago. The year-over-year decrease was the first in 12 months. The bottom of the current cycle was $221,000 in April 2009, while the peak was at $484,000 in early 2007. 

Of the existing homes sold last month, 37.1 percent were properties that had been foreclosed on during the past year. That was up from a revised 35.6 percent in September and down from 40.9 percent in October a year ago. The all-time high was in February 2009 at 58.5 percent. 

The typical mortgage payment that home buyers committed themselves to paying last month was $1,005. That was down from $1,055 in September, and down from $1,097 in October 2009. Adjusted for inflation, last month's mortgage payment was 53.5 percent below the spring 1989 peak of the prior real estate cycle. It was 62.3 percent below the current cycle's peak in June 2006. 

MDA DataQuick is a division of MDA Lending Solutions, a subsidiary of Vancouver-based MacDonald Dettwiler and Associates. MDA DataQuick monitors real estate activity nationwide and provides information to consumers, educational institutions, public agencies, lending institutions, title companies and industry analysts. 

Indicators of market distress continue to move in different directions. Foreclosure activity has declined somewhat but remains high by historical standards. Financing with multiple mortgages is low, down payment sizes are stable, and cash and non-owner occupied buying is up, MDA DataQuick reported.

Media calls: Andrew LePage (916)456-7157 or alepage@dqnews.com

Source: MDA DataQuick; DQNews.com

Copyright MDA DataQuick Information Systems. All rights reserved. 

http://www.dqnews.com/Articles/2010/News/California/RRCA101118.aspx 
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Tuesday, November 16, 2010

First-time buyer housing affordability improves slightly in Q3

Here is an article I read today from C.A.R. The median home price drop in Q3 has provided first time buyers with a great opportunity. according to "C.A.R.'s first-time buyer housing affordability index," the LA county saw a 5% increases in affordability over the past year. Here is the article:

For release:
Monday, Nov. 15, 2010


C.A.R. reports first-time buyer housing affordability improves slightly in third quarter 


LOS ANGELES (Nov. 15) -- Housing affordability among first-time home buyers improved slightly in the third quarter of 2010, both on a quarter-to-quarter and year-to-year basis, the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) reported today.  The percentage of first-time buyers who could afford to purchase an entry-level home in California stood at 66 percent in the third quarter of 2010, according to C.A.R.’s First-time Buyer Housing Affordability Index (FTB-HAI).  In the second quarter of 2010, the Index was a revised 65 percent and was 64 percent in the third quarter of 2009. 

C.A.R.’s FTB-HAI measures the percentage of households that can afford to purchase an entry-level home in California.  C.A.R. also reports first-time buyer indexes for regions and select counties within the state.  The Index is considered the most-fundamental measure of housing well-being for first-time buyers in the state. 

“With interest rates at historic lows, which have led to lower monthly mortgage payments, affordability continues to remain at near record-high levels in California,” said C.A.R. President Beth L. Peerce.  “Another high point for first-time buyers is the current ratio between the California median price and the California median household income.  During the third quarter, the ratio stood at 5 to 1 and was at a level we haven’t seen in the last 10 years.  This is opening many doors for potential first-time buyers.” 

First-time buyers, who tend to purchase homes equal to 85 percent of the prevailing median price, needed to earn a minimum annual income of $42,300 to qualify for an entry-level home of $266,620 during the third quarter of 2010.  The monthly payment, including taxes and insurance, was $1,410, assuming a 10 percent down payment and an adjustable effective interest rate of 3.66. 

“Nearly every region in the state experienced an increase in first-time buyer housing affordability,” added C.A.R. Vice President and Chief Economist Leslie Appleton-Young.  “Much of the increase in affordability can be attributed to the slight decrease in the state’s median home price during the third quarter.” 

At 85 percent, the High Desert region was the most affordable area in the state.  The San Francisco Bay region was the least affordable in the state at 51 percent, followed by the Santa Barbara area and the Santa Clara County regions, both at 53 percent.  

Leading the way…® in California real estate for more than 100 years, the CALIFORNIA ASSOCIATION OF REALTORS® (www.car.org) is one of the largest state trade organizations in the United States with more than 155,000 members dedicated to the advancement of professionalism in real estate. C.A.R. is headquartered in Los Angeles.



C.A.R. First-time Buyer Housing Affordability Index
 
C.A.R. Region
Q3 2010
Q2 2010
 
Q3 2009
 
California
                 66
65
r
64
 
California - Condos
                 73
70
 
68
r
United States
                 79
78
 
76
 
High Desert
                 85
84
 
85
 
Los Angeles County
                 57
56
 
52
 
Monterey Region
                 64
62
 
66
 
Northern California
                 70
68
 
63
 
Northern Wine Country
                 62
61
 
58
 
Orange County
                 56
54
 
51
 
Palm Sprgs/Lwr Desert
                 75
72
 
74
 
Riverside/SBernardino
                 78
77
 
78
 
Sacramento County
                 82
80
 
78
 
San Diego County
                 60
58
 
56
 
San Francisco Bay
                 51
49
 
49
 
San Luis Obispo County
                 54
48
 
47
 
Santa Barbara Area
                 53
50
 
52
r
Santa Clara County
                 53
51
 
53
 
Southern California
                 65
63
 
64
r
Ventura County
                 63
61
 
56
 
County
 
 
 
 
 
Alameda
                 53
51
 
52
 
Contra Costa
                 44
43
 
42
 
Fresno
                 79
77
 
76
 
Marin
                 42
38
 
37
 
Merced
                 84
83
 
83
 
Riverside
                 77
75
 
78
 
San Bernardino
                 81
81
 
81
 
San Francisco
                 41
36
 
35
 
San Mateo
                 42
41
 
40
 
Santa Cruz
                 49
46
 
43
 
Sonoma
                 64
62
 
60
 
* -- percentage of California households that can afford to purchase an entry-level home
r – revised

Source:  CALIFORNIA ASSOCIATION OF REALTORS®

C.A.R. Region
Housing
Affordability Index
Entry-Level Price
Monthly Payment Including Taxes & Insurance
Minimum
Qualifying Income
California
66
$266,620
$1,410
$42,300
California - Condos
73
$218,310
$1,150
$34,500
United States
79
$151,220
$800
$24,000
High Desert
85
$108,230
$570
$17,100
Los Angeles County
57
$297,500
$1,570
$47,100
Monterey Region
64
$295,040
$1,560
$46,800
Northern California
70
$210,050
$1,110
$33,300
Northern Wine Country
62
$312,450
$1,650
$49,500
Orange County
56
$432,170
$2,280
$68,400
Palm Sprgs/Lwr Desert
75
$152,920
$810
$24,300
Riverside/SBernardino
78
$161,590
$850
$25,500
Sacramento County
82
$157,280
$830
$24,900
San Diego County
60
$329,470
$1,740
$52,200
San Francisco Bay
51
$500,600
$2,640
$79,200
San Luis Obispo County
54
$311,010
$1,640
$49,200
Santa Barbara Area
53
$373,060
$1,970
$59,100
Santa Clara County
53
$534,400
$2,820
$84,600
Southern California
65
$271,420
$1,430
$42,900
Ventura County
63
$377,090
$1,990
$59,700
County
 
 
 
 
Alameda
53
$428,330
$2,260
$67,750
Contra Costa
44
$576,610
$3,040
$91,200
Fresno
79
$129,020
$680
$20,410
Marin
42
$685,360
$3,610
$108,400
Merced
84
$100,580
$530
$15,910
Riverside
77
$167,260
$880
$26,450
San Bernardino
81
$143,730
$760
$22,730
San Francisco
41
$573,500
$3,020
$90,710
San Mateo
42
$650,250
$3,430
$102,850
Santa Cruz
49
$442,530
$2,330
$69,990
Sonoma
64
$317,090
$1,670
$50,150
Source:  CALIFORNIA ASSOCIATION OF REALTORS®

http://www.car.org/newsstand/newsreleases/q3hai/
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