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Bread Frontman David Gates’s Former 3,000-Acre Ranch Selling in California’s Fall River Valley

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Bread Frontman David Gates’s Former 3,000-Acre Ranch Selling in California’s Fall River Valley



Listing of the Day

Location: McArthur, California

Price: $16.595 million 

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This 3,068-acre ranch once owned by singer-songwriter David Gates, co-lead singer of the pop-music group Bread, is located in northern California’s Fall River Valley. 

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David Gates


Stringer / Getty Images

Known as the Carroll Ranch, the sprawling property includes three homes, an in-place cattle operation, fertile farmland, irrigated pastures, a 5-acre lake and good hunting and recreational opportunities. It’s currently owned by Jim Carroll and his wife, Sharon, since 1999, said listing agent Denny Prins, of California Outdoor Properties. 

They bought it from Gates—best known for Bread’s 1970 hit “Make it With You”—who purchased the ranch in 1974 and used it as a summer retreat, according to published reports.

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The ranch has a 5-acre spring-fed lake with two docks and an island in the middle.


California Outdoor Properties

More: A 656-Acre Luxury Ranch Outside Houston Is Selling for More Than $40 Million

The Fall River Valley is a “hidden gem in the northeast corner of California, known for the rivers that flow through it and for fly-fishing.” Prins said. “The ranch is set back on the north side of the valley, away from everything else.”

“We’re four hours north of the San Francisco Bay Area,” he said. “It’s a whole different part of California than most people know. It’s a farming community, and there is a logging industry there.”

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“The Fall River itself is 100% spring fed,” he said. “It’s a beautiful river that winds through the farmland. It’s top-quality farmland.”

The ranch also has a 5-acre spring-fed lake with two docks and an island in the middle.

The Carrolls, who custom built the wood and stone main house in 2000, use the ranch for farming and cattle, Prins said. They currently have about 500 cattle on the ranch and 630 acres of hay production.

More: California Ranch From HBO’s ‘Sharp Objects’ Is Headed to Auction Next Month

The four-bedroom main house is on top of a hill and it overlooks the ranch, he said. “You have beautiful views of both Mount Shasta and Mount Lassen from the house.”

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The open-plan great room has seating and dining areas, a large stone fireplace, oversized windows and reclaimed wood used for the wide-plank hardwood floors and the beamed ceilings, according to the listing. The main level also holds the primary bedroom suite and the kitchen, which features a baking center, a butcher block island, three sinks, two dishwashers, a six-burner gas range, dual ovens and a butler’s pantry. 

The three additional en-suite bedrooms are “strategically built along the contour of the hillside,” according to the listing. The lower level holds a wine cellar, an exercise room, a storage room and a garden potting room. 

Other homes on the ranch include a two-story farmhouse that is more than 100 years old. It has a country kitchen, living and dining rooms, a detached two-car garage with storage and enclosed front, side and back porches, according to the listing. 

The three-bedroom manager’s house has living and family rooms, a country kitchen with granite counters and a butcher block island and a primary bedroom suite with a jetted tub, a separate shower and dual sinks.

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The main house has views of both Mount Shasta and Mount Lassen.


California Outdoor Properties

MANSION GLOBAL BOUTIQUE: Dress Up Your Coffee Table With Chic Accessories

Stats 

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The 7,700-square-foot main house has four bedrooms, five full bathrooms and one partial bathroom. 

There’s also a 2,700-square-foot farmhouse with six bedrooms and two bathrooms. The 2,000-square-foot manager’s house has three bedrooms and two bathrooms. 

Amenities 



Amenities include a heated pool and spa, a waterfall, a fire pit, two- and three-car garages, a wine cellar, a exercise room, multiple fireplaces, stone patios, guest quarters above one of the garages, multiple hay, feed and equipment barns and a 5-acre spring-fed lake with two docks and an island in the middle.

More: A 34-Acre Wyoming Ranch Surrounded by National Forest Is on the Market

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Neighborhood Notes 



“There are several good restaurants right in McArthur” and more in the town of Burney, which is about 20 minutes from the ranch, Prins said. The Fall River Valley Golf and Country Club is 7 or 8 miles from the ranch.

The ranch is about 70 miles from the city of Redding, California, and three hours north of Reno, Nevada, he said.

Agents: Denny Prins and Donna Utterback, California Outdoor Properties

View the original listing. 

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California

Dow Jones stock index crosses 40,000: Good or bad for California?

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Dow Jones stock index crosses 40,000: Good or bad for California?


The stock market’s venerable yardstick, the Dow Jones Industrial Average, just made history – crossing 40,000 for the first time.

Yes, this milestone set Thursday, May 16, is only a brief emotional victory for shareholders. Yet it can be seen as a historical milepost for the broader business climate, especially in California.

To honor the moment, the trusty spreadsheet reviewed the Dow’s 5,000-point markers and how California fared in those periods using an economic metric (California unemployment), an interest rate (the average 30-year fixed mortgage), and home prices from the California Association of Realtors.

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As we begin our data-filled voyage, let’s note the Dow first crossed 5,000 in November 1995 — back when you could buy the median-priced California single-family home for $176,000.

5,000-point mileposts

Dow passes 10,000 in December 1999: It took the stock index just over four years to double from 5,000 compared with a 28% gain for California homes to $225,000 in the same timeframe. This was an era when the economy broke loose from its early 1990s slumber. California unemployment dipped between 1995 and 1999 to 5% from 7.9% while mortgage rates rose to 7.9% from 7.4%.

15,000 in May 2013: The Dow needed more than 13 years to gain 50% to hit this benchmark vs. an 85% surge for homes statewide to $417,000 in the same period. This extended gap came during the financial rollercoaster ride from the bubble period in the early 2000s bursting into a Great Recession and then the economy’s slow recovery. So, California unemployment was 9.2%, up from 5% at the beginning of this crazy period. Yet, cheap money was one salve: 3.5% mortgages vs. 7.9% in 1999.

20,000 in January 2017: The Dow took under four years to gain 33% to gain the next 5,000 while homes statewide gained 18% to $492,000 as the post-crash rebound continued. California unemployment fell to 5.2% from 9.2%  as mortgage rates ticked up to 4.2% from 3.5% in 2013.

25,000 in January 2018: The Dow needed just one year to gain 25% for its next benchmark vs. a 7% gain for California homes to $528,000 as the recovery hit full stride. California unemployment dipped to 4.4% from 5.2% while mortgage rates slipped to 4% from 4.2% in 2017.

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30,000 in November 2020: The index took just under three years to gain 20% vs. 32% for California homes to $699,000 in the middle of the pandemic’s business wild gyrations. California unemployment surged to 9% from 4.4%  – but investors cheered historically cheap money such as mortgages hitting 2.8%, falling from 4% in 2018.

35,000 in July 2021: It took the Dow less than a year to gain 17% vs. 16% appreciation for California homes to $811,000 as the pandemic’s economic surge was in full force. Statewide unemployment fell to 7.4% from 9% and mortgages remained cheap – 2.9% vs. 2.8% in 2020.

40,000 in May 2024: The Dow took almost three years to gain 14% vs. an 11% gain for California homes to a record $904,000 in April. The economy struggles to find its new normal as statewide unemployment fell to 5.3% in April from 7.4%. But mortgages got expensive as the Federal Reserve fought and overheated economy – 7% in April from 2.9% in 2021.

Bottom line

So, the Dow is up eight-fold since crossing 5,000 just over 28 years ago. California homes are only five times more expensive.

That’s not the point, though. This stroll down memory lane reminds us that the markets typically need a solid economy for stocks or homes to appreciate. Cheap money is the icing on the cake.

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Jonathan Lansner is the business columnist for the Southern California News Group. He can be reached at jlansner@scng.com

 



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California

California continues to lead in US unemployment rate

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California continues to lead in US unemployment rate


SACRAMENTO: The state of California continues to lead the United States in the number of job losses since the start of this year, reported Xinhua, quoting a report by California’s Employment Development Department on Friday.

The unemployment rate in California, home to around 40 million residents, remained unchanged at 5.3 per cent in April for the third consecutive month, maintaining the highest level in the country.

The report showed that the number of unemployed Californians was 1,027,000 in April – down by 5,900 from the previous month and up 164,700 year on year.

This is the second time in five months the total number of the unemployed has declined. It comes amidst sluggish job growth, with statewide employers adding just 5,200 nonfarm payroll jobs in April, a significant drop from the 18,200 jobs added in March.

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According to the report, California’s employment landscape has been particularly bleak across several major sectors. Manufacturing, information, and professional and business services all experienced job losses in the past month, contributing to a less robust job market.

Meanwhile, five of California’s 11 industry sectors gained jobs in April, with private education and health services posting the largest month-over-month gain for the fourth consecutive month.



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Priorities & Progress | Governor of California

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Priorities & Progress | Governor of California


Working towards a better life for all

Californians deserve a government that works for them and with them. One that will work to ensure opportunity and justice. This is the goal of the Newsom Administration.

We are informed by our history as a state and nation. We are building a California not for the few, but for all — including those who have historically been left out.

We are doing the work to make our state a place for every Californian and all the diversity that makes us strong. Our state will be known as a place where everyone is respected, protected, and connected.



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