Meeting Notes - January 13, 2017

Posted by Mark Brubaker on Jan 13, 2017
 
Announcements:
  • Dwight Seeley - Blarney Bash Committee is looking for more sponsors because we need more sponsorship $$.  Continue to identify potential sponsors knowing that a variety of sponsorship levels are still available.  Contact Dwight or other committee members when you can make a warm transfer to a potential sponsor.
  • Claudia Trusty - The Communications Committee is actively seeking new members.  Current need exists for meeting reporters and photographers (a smart phone camera is all that is necessary). 
  • Sara Ott - The Dublin Food Pantry is looking for Monday evening volunteers.  If you are interested, please contact Sara.
  • Rita Hook - La VIA in Moldova sent Dublin AM a Christmas card expressing thanks for our support.  Page Vornbrook publicly recognized Rita for all of the work that she does with La VIA.
  • Sinan Yaykin - 26 golfers have already signed up for the Polar Bear Open.  Plenty of room for more golfers to participate and sponsors to contribute.  This is always a great day regardless of the weather and it is a significant club fundraiser.
  • Bonnie Coley-Malir - There is still room to participate in the Progressive Dinner Party on January 28.  This event is a favorite among many Rotarians and all are welcome.  Please contact Cindy Groeniger if you'd like to join the dinner party or potentially be a host home.
Guests:
  • Susan West (Page Vornbrock)
  • Jeremy Brooks (Sarah Richardson)
 
So what is happening in the Dublin real estate market?  What about the mortgage market?
"Guest" speakers: Page Vornbrock, Daryl Schorstein, Jack Curtis, and Dave McKee
 
  • In 2016, 437 homes totaling $2B were sold in 43017
    • $416K = average list price
    • $405.8K - average sales price
    • 59 days - average time on the market
  • In the resale market, currently 208 active listings with 114 in contract
    • $310K = average sales price
    • updated home sell more quickly
  • Dublin school district makes our community exceptionally desirable
    • homes < $300K are in great demand as parents bring families to a very desirable school district
  • 30 year fixed rates ~ 4.25
  • 15 year fixed rates ~ 3.50
  • financial regulations do create significant administrative requirements that often impact and disrupt closing timelines
  • 65% of Bridge Park apartments and retail space are currently contracted
  • Dublin is overbuilt with homes > $700K as residents seek to downsize and move to walkable communities
  • Over the holidays, 359 new Dublin school students came into the district; for perspective, a typical elementary school supports 500 students
  • District is evaluating innovative options as an alternative to a fourth, traditional high school