Santa Clarita Homes FOR SALE

Buying A House In Santa Clarita?

2012-02-17T16:42:00.000-08:00

For my daily updated list of HOMES FOR SALE in Santa Clarita click on the TAB at the top of this page, entitled
HOMES CURRENTLY FOR SALE

Is it a good time to buy?

Buyers are still asking me that question, with some still nervous that the price of Real Estate could drop even further, with new Buyers loosing equity, even though housing prices are the lowest they've been in years!!!

What do I say to that question? My usual answer is, "Of course it is a GREAT time to purchase property!"

With interest rates the lowest they've been in History, it is an awesome time to purchase property! (Mortgage rates hit a new low: 30-year fixed at 3.87% - February 2, 2012 Article found HERE).
But if you are a Buyer who is interested in purchasing property, just be aware that of course prices could drop lower. I don't have a crystal ball to read the future, but consider these two questions:

If you are going to live in the property, with the current interest rates being so low, would your new mortgage note be less than what you are paying in rent? Or, if you are going to rent the property out, will you actually make some money every month because the interest rates AND purchase prices are so low? (read my TIPS FOR POTENTIAL LANDLORDS TO CONSIDER BEFORE PURCHASING) It is quite possible that the answer to either of these questions is, "Yes!"

Of course, I am not posting anything here that is brilliantly new regarding Real Estate, but with the number of First Time Home Buyers still seemingly squeamish about putting their hard earned cash into this kind of investment, I thought I would remind everyone about the historically low interest rates, along with the below Article reminding us that the purchase prices are also at the lowest in twenty years in some places!

So what is holding you back? Give me a call to talk it over and let's see if buying your first property (or second or third) could be the right thing for you to do:

LeeAnn Bell,

REALTOR(R)
661-309-2364

DRE License #01260650

NEW YORK (CNNMoney) -- Buying a home is now more affordable than it has been in the last twenty years.
By Les Christie @CNNMoney February 17, 2012: 12:10 PM ET

Thanks to continued declines in home prices and rock-bottom mortgage rates, the National Association of Home Builders/Wells Fargo Housing Opportunity Index hit a record level of affordability.

According to the index, 75.9% of all new and existing homes sold during the three months ended Dec. 31 could have been comfortably purchased by families earning the national median income of $64,200.

That was the highest percentage recorded in the 20-year history of the index, and a sharp increase from just three months earlier when 72.9% of all homes sold were considered affordable.

(Read the full Article HERE)

For all of your Real Estate questions, do not hesitate to call or email me:
LeeAnn Bell, 661-309-2364
LeeAnnRealtor@Yahoo.com

Here is what just one of my clients has said about working with me:

"Thank you for your help and patience in my search for the right house. I would not hesitate to recommend you to my friends or relatives."

-Rachel S.

FHA says: FLIP THAT HOUSE

2012-01-05T19:04:00.000-08:00

Good news for investors in 2012.

The Federal Housing Administration has announced that they will extend their waiver of its "anti-flipping regulations through 2012". See the full news article below:

For my daily updated list of HOMES FOR SALE in Santa Clarita click on the TAB at the top of this page, entitled
HOMES CURRENTLY FOR SALE

By Les Christie @CNNMoney January 2, 2012: 10:48 AM ET

NEW YORK (CNNMoney) -- Flippers, the real estate investors who buy homes on the cheap and quickly resell them at a profit, just got a reprieve from the Federal Housing Administration.

In an effort to help stabilize housing prices and unload some of the foreclosures that are flooding low-income communities, the mortgage insurer extended a waiver of its anti-flipping regulations through 2012.

The waiver, which was initially issued in 2010 and set to expire this month, suspends regulations that prohibit the agency from insuring mortgages used to purchase homes that are bought and resold in less than 90 days.

"This extension is intended to accelerate the resale of foreclosed properties in neighborhoods struggling to overcome the possible effects of abandonment and blight," said Acting Federal Housing Administration Commissioner Carol Galante.

Low-income neighborhoods are particularly plagued by foreclosed homes that lower property values and act as magnets for crime and other social ills. Real estate flippers often rehab these damaged homes before reselling them, improving conditions for neighborhoods.

The FHA, which does not issue mortgages but insures them, is a primary player when it comes to mortgage lending in low-income communities. Many loans in these communities could not be issued without FHA backing.

The ban against flipping was initially put in place to prevent predatory flipping, in which homes are quickly resold at inflated prices to unsuspecting borrowers.

In order to qualify for the waiver, certain conditions must be met. The transaction must be "arms length" with no other relationship between seller and buyer.

In addition, if the new sale price is 20% or more above the previous selling price, the lender has to document and justify the increase and meet other conditions, such as making sure the home has been inspected.

Since the waiver went into effect in February of 2010, the FHA has insured more than 42,000 loans to purchase homes that were being resold within 90 days. These totaled more than $7 billion in mortgage principal.

Original Article found HERE

Whether you are planning on "flipping" a house, or thinking about buying some property to rent out, now really is still a great time to do so because of the current low interest rates. Call me today and lets talk about which areas could be the right fit for you: LeeAnn Bell, 661-309-2364.

Below is what one previous client had to say about working with me:

"We really like that you had patience with us and explained everything to where we understood it. You also pointed out things that were wrong with the house that we didn't see, showing your honesty to protect us and not just close the deal."

- Chuck and Teresa M., buyers

LeeAnn Bell, REALTOR(R)

DRE License #01260650

SantaClaritaRE@gmail.com

HAFA-THE Home Affordable Foreclosure Alternative Program

2011-12-12T16:42:00.000-08:00

Looking To Avoid Foreclosure?

In 2009, the Treasury Department introduced the HAFA program to provide a viable option for homeowners who are unable to keep their homes through the existing Home Affordable Modification Program (HAMP). The HAFA program took effect on April 5, 2010 and was set to expire on December 31, 2012.

On October 24, 2011, the federal government announced changes to the Home Affordable Refinance Program (HARP) that will make it easier for homeowners with at-risk mortgages to refinance their loans. Details of the program were to be available by November 15 with some mortgage lenders ready to refinance loans under the new rules by December 1.

The enhanced HARP includes these changes:

there will be no limit on the LTV ratio: borrowers who owe more than 125% of their home's value will now be eligible
certain refinance fees previously charged to borrowers will be lowered or eliminated, especially for borrowers who shorten the terms of their mortgages to 20 years or less
new appraisals will not be required in many cases
lender liability will be eliminated for mortgages refinanced through HARP
the program will be extended through December 31, 2013

For details, see FHFA News Release: HARP Changes to Reach More Borrowers

Homeowners interested in using foreclosure alternatives under HAFA should contact their Lender to see if they meet the eligibility requirements and inform them of their desire to participate.

An overview of this Program can be found HERE

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For help in Buying or Selling real estate anywhere in Santa Clarita, do not hesitate to call LeeAnn Bell at 661-309-2364

Below is what one client had to say about working with me:

"I think I appreciated your ability to explain all the important matters very simply to me."
-Emma P.

LeeAnn Bell, REALTOR(R)
DRE License #01260650

Tips for Buying An Investment Property

2011-11-05T12:30:00.000-07:00

Thinking of becoming a Landlord? With current real estate prices and interest rates so low, many are saying, "Yes" to that question.

But what should one consider before jumping into such a commitment? Below are a few thoughts:

Location, location, location.
Does the area where you are looking to purchase in have a high number of steady jobs? Or is it near a University where you could get a steady stream of student renters? Does the amount of rent you need coming in fit with the area, or would you need to charge too high of a rent for the area in order to cover your expenses? Answering these questions BEFORE you purchase can save you a lot of months of no income on your new rental property while trying to figure out where to get a renter or how much rent you can charge to fit the area.

Who will take your maintenance calls in the middle of the night?
If you don't want tenants to be calling you personally with every question, concern, or maintenance need, you may want to consider hiring a Property Management company. Remember to add the cost of such into your expenses, however, when thinking about how much rent you will need to charge to cover your expenses.

Do you know how to legally screen tenants and how much deposit money you can legally charge?
Again, the hiring of a professional Property Management company could help you in your beginning years as you learn the legalities of being a Landlord or if you don't want the hassle of screening, or of sometimes evicting, tenants.

Being a Landlord can be financially rewarding, however, knowing the Laws and Rights of both Landlord and Tenant before you purchase is not just wise, but will keep you out of a lot of trouble. And thinking about all the expenses that come with owning an income producing property before you purchase, will help you avoid surprises in your budgets.

For a current list of possible income producing properties in Santa Clarita, read HERE or contact me directly for your own tailored list which can be automated and updated daily and delivered right to your own email box:
LeeAnn Bell 661-309-2364

LeeAnnRealtor@yahoo.com
DRE License #01260650

Please notify me by email or by posting a comment in the COMMENT SECTION if you find a LINK not working.
Some LINKS may not work on this Site because of my constant updating and moving Articles around to keep this Site up-to-date and interesting for you the Reader.
Your help is greatly appreciated!

How To Sell Your Home For The Most Money

2011-11-04T15:32:00.000-07:00

Below are a couple tips to help you sell your home in this current real estate market, in the fastest time frame possible and for the most money possible.
Tip #1 - Set your price right ... at the very start

Many Home Sellers think they can start by advertising their home at a higher price hoping that a Buyer will take them up on their offer, with the thought that if no offers come in to them right away, they can always drop their asking price.

While this is true, it does nothing to help the Seller in the long run, in this current declining market. For a couple of reasons: If you are in a hurry to get your home sold, this tactic won't always get you moving as quickly as you may like or need; the longer a home "sits on the market" with a For Sale sign on it, the more wary Buyers become thinking that there must be something wrong with the home thus causing it to not sell; and some Sellers using this strategy, have been caught in a downward spiral of "chasing the market down". In other words, they set their asking price at the very top of what the current market can afford in the beginning of their selling process, only to find that homes priced lower around them are selling thus forcing Sellers to drop their prices after months of sitting on the market ... sometimes with multiple price drops over a matter of a year or longer. (Read my Article HERE of a $161,000 price drop)

Tip #2 - Make your home look as clutter free and as pleasing as possible to the largest possible number of Buyers
In other words, remove all the family photos or kids art work from the walls and fridge so buyers won't be distracted from looking at the home. Re-paint rooms that are wild in color ... your bright orange or blood red walls may fit perfectly with your furniture and personality, but some Buyers can be put off by such colors and can be put off at the thought of having to re-paint dark walls, or pull down wall paper, at the Close of Escrow. And try to remove as many belongings as possible from rooms, closets and cupboards. Removing furniture from rooms will make every room look and feel larger to prospective Buyers, and removing belongings from cupboards and closets will do the same. Many Buyers aren't able to imagine rooms without your furniture in it ... so make it easy on them, and physically remove stuff for them.

Tip #3 - Offer incentives or perks to Buyers

Offer to pay for the gardener to continue on for 3 months after the Buyer moves in. Offer to pay for 3 months, or 6 months, or more of HOA fees for the new Buyer. Or offer to pay for new carpeting or new interior paint at the Close of Escrow so a Buyer will get the opportunity to choose their own color of carpet or paint. Any little "perk" will help a buyer feel like they are getting the best value by buying YOUR home versus going down the street to the competing Home for Sale and can help you get a higher SOLD price.

For more thoughts on how to get your home SOLD FAST and at top dollar, contact me for a free market analysis along with tips on what your home may need to look its best in the eyes of a Buyer:
LeeAnn Bell, 661-309-2364 or
LeeAnnRealtor@yahoo.com

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(C) 2011 LeeAnn Bell, REALTOR(R)
DRE License #01260650

FHA Mortgage Information for Condominiums

2011-11-02T15:30:00.000-07:00

Have you as a Buyer, been looking at condominiums to purchase only to hear your REALTOR(R) state, "That Condo Complex is not FHA Approved*?".

Or have you as a Seller, been told by your REALTOR(R) that, "You are not getting a Buyer for your unit because your complex is not FHA Approved*" ?

I have made these statements to every single condo client in 2011, and to some in 2010, when Buyers did not have 20% of the Purchase Price as a Down Payment to make, and so I have seen firsthand the frustration this is causing both Buyers and Sellers. And my clients are not the only ones frustrated, as evidenced in the below LA Times Article:

New FHA certification rules hamper condo sales, refinancings
The rule revisions, aimed at averting losses from delinquencies and foreclosures, have led to thousands of common-interest developments becoming ineligible for FHA mortgages.
October 23, 2011|By Kenneth R. Harney
Reporting from Washington — Is a little-publicized switch in federal mortgage policy causing huge problems for condominium sellers, buyers and homeowner association boards across the country — even depressing prices and blocking refinancings?

Individual owners and realty agents are emphatic that the answer is yes. They say a series of rule revisions by the Federal Housing Administration has caused thousands of common-interest developments to become ineligible for FHA mortgages. This has abruptly shut off loan money for would-be buyers and refinancers, forcing them to pursue conventional bank loans requiring much higher down payments — sometimes 20% or higher versus the FHA's 3.5% minimum — that they often cannot afford.

For its part, FHA says the rule changes it has adopted, which focus on budgets, insurance and financial reserves, have been prudent and are designed to avert losses from delinquencies and foreclosures. But the agency confirms that thousands of developments have failed to obtain or apply for required recertifications under the new rules. Out of approximately 25,000 common-interest developments nationwide with expiration dates for FHA eligibility between last December and Sept. 30 of this year, only 2,100 — just 8.4% — have been approved or recertified by the agency, according to Lemar Wooley, an agency spokesman.

"This has been a nightmare," said Ryan O'Quinn, a homeowner in a town house community in Calabasas. O'Quinn, a member of the board of directors of his homeowner association, has been trying to sell his condo since May. He has had multiple offers and been in escrow four times — twice with the same purchaser — but because the community's eligibility has lapsed, buyers who need FHA financing have been rejected by lenders.

...Critics say that FHA did not consult adequately with the condo industry before changing its rules — a charge FHA denies — and contend that the agency did not think through some of its policies. Andrew Fortin, government affairs director of the Community Associations Institute, said the rule that is hampering Robinson's refinancing — that no more than 15% of the units in a development be 30 days or more delinquent on their association dues — is often impossible for volunteer boards of directors in large projects to keep track of, much less to certify to FHA.

Even worse, according to other critics, the new rules put board members into legal jeopardy by requiring them to sign certifications attesting that the governing documents comply with all local statutes and that they have no knowledge of situations that could cause any owner to become delinquent at some later date. The mandatory certification carries a maximum penalty of $1 million in fines and 30 years' imprisonment if found to be incorrect. Large numbers of association boards have balked at this requirement, critics say, leading to the drastic drop in certification requests and eligibility.

Bottom line for owners, sellers and buyers: If an FHA loan figures in your plans, first check with the association board. If the development isn't certified, you are cut off — at least for now — from some of the most favorable mortgage terms in the marketplace.

(Full/Originiall Article can be read HERE)

If you are looking to purchase or sell a property in an HOA Community in Santa Clarita, contact me to see if the complex is FHA compliant at:

LeeAnn Bell 661-309-2364 or
LeeAnnRealtor@yahoo.com

And remember to ask me about some of the risks associated with purchasing a unit in a complex that in not FHA Compliant (some are reported HERE).

* To be FHA Approved a Complex must comply with the following:

- No more than 10 percent of the units may be owned by one investor;

- No more than 15 percent of the total units can be in arrears (more than 30 days past due) of their condominium association fee payments;
- At least 50 percent of the units of a project must be owner-occupied or sold to owners who intend to occupy the units;
- Mortgagees must review the homeowners’ association budget (the actual budget for established projects or the projected budget for new projects) for all projects. This review must determine that the budget is adequate and:
• Includes allocations/line items to ensure sufficient funds are available to maintain and preserve all amenities and features unique to the condominium project;
• Provides for the funding of replacement reserves for capital expenditures and deferred maintenance in an account representing at least 10% of the budget; and
• Provides adequate funding for insurance coverage and deductibles (see Section VI, Insurance Requirements).

These requirements AND MORE found at www.hud.gov under question
"2) How can I get a Condominium approved?"

Information provided as a courtesy by:

LeeAnn Bell, REALTOR(R)

DRE License #01260650
Verification of all information should be obtained by appropriate professionals.

_________

Here is what a recent client had to say about working with me:

Given the difficulties this sale presented (the foundation was cracked) you offered every option, answered all questions, and explained all paperwork immediately. I would not hesitate to refer you to my family and friends.
- Gary R.

LeeAnn Bell, REALTOR(R) since 1998
661-309-2364

LeeAnnRealtor@yahoo.com

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Investment Properties FOR SALE in Santa Clarita

2011-11-02T14:01:00.000-07:00

This page is updated daily showing

Properties for Sale Under $200,000 in the entire Santa Clarita Valley

Call me today to see what your monthly mortgage note would be on any of these homes and what the potential RENTAL INCOME could be

Santa Clarita is located roughly 30 miles north of Los Angeles with the I-5 and the 14 Freeways being the main arteries into and out of town, making this a great place to own Investment Properties

This LINK will show you the most current Investment Properties For Sale

Receive your own FREE

Fully Automated Daily Updated email with photos and prices as seen in the LINK above
for Foreclosure Homes, Investment Properties, or a home for you to live in
for any area and for any price range in Santa Clarita
by sending me an email at:
LeeAnnRealtor@yahoo.com
or by calling me at 661-309-2364

Request your own FULLY AUTOMATED DAILY NOTIFICATION by letting me know which city you are interested in purchasing in, what price range you desire, how many bedrooms and if you want a condo or a Single Family Residence.

* *
About the Santa Clarita, California Valley

For those contemplating a move into the Santa Clarita Valley, or for investors thinking about buying property here, I thought I would give you a Photo Tour of our great Valley.

I think the main thing that strikes me about Santa Clarita are the wide open spaces!
There is still room to hike, picnic, and enjoy the scenery, all in our own "backyards". I personally do not know of any other Los Angeles County community with so many wide open spaces and with the beautiful mountain views that we have on many sides of our community.

This is the gorgeous view driving along Copper Hill Drive in Saugus,
heading toward Haskell Cyn

This is a view driving down Winterdale

on the Canyon Country side of the Valley ... I've seen snow on those hill tops once or twice

And these are the gorgeous Vasquez Rocks located in the northern community of Agua Dulce ... only 10 miles north of Canyon Country

And what about man-made beauty?

That can be, and is, quite beautiful in the Santa Clarita Valley as well!

If you love water as much as I do, then you'll love living in the BRIDGEPORT Community...a number of it's homes have water views!

(Call me for up-to-date prices of all homes in the Bridgeport Community:
LeeAnn at 661-309-2364 or email at LeeAnnRealtor@yahoo.com)

The lovely Bridgeport Marketplace mall was built right across from the Bridgeport Community for shopping and eating conveniences!

Anyone can visit this lovely mall...

not just Bridgeport residents!

These ducks (and turtles too) can be found at the McBean Parkway main entrance to the Bridgeport Marketplace

The builders put such lovely detail into this entire water area!

There are also the new "Patios"...

a place to sit and lounge around ponds and lily pads, at the main Valencia Town Center mall

And we also have the recently built

SANTA CLARITA AQUATIC CENTER

which includes:

a 50 meter competition pool with a competition timing system, a 25 meter dive pool, and an activity pool complete with water play equipment and a 160 foot water slide!

You may call
(661) 250-3700
for more information about the Aquatic Center,

its hours of operation and directions on how to get there

Santa Clarita even has a College which boasts of two campuses, one on the East side of the City and one on the West side.
College of the Canyons information may be viewed HERE

The wide tree lined streets, mountain views everywhere, plenty of parks, natural hiking areas with some waterfalls in the spring-time, rural country living (for livestock) conveniently close to town for shopping, and beautifully landscaped/hardscaped shopping areas all make Santa Clarita a beautiful place to live or own Investment Property...

and all of this only 35 miles north-west of Downtown Los Angeles!

Contact me today for more information about owning real estate in Santa Clarita at:

LeeAnn Bell, 661-309-2364

or LeeAnnRealtor@yahoo.com

Receive your own FREE

Fully Automated Daily Updated email with photos and prices as seen in the LINKS above
for Foreclosure Homes, Investment Properties, or a home for you to live in
for any area and for any price range in Santa Clarita
by sending me an email at:
LeeAnnRealtor@yahoo.com
or by calling me at 661-309-2364
LeeAnn Bell, REALTOR(R), DRE License #01260650

_________

Here is what a recent client had to say about working with me:

Given the difficulties this sale presented (the foundation was cracked) you offered every option, answered all questions, and explained all paperwork immediately. I would not hesitate to refer you to my family and friends.
- Gary R.

LeeAnn Bell, REALTOR(R) since 1998

661-309-2364

LeeAnnRealtor@yahoo.com
Kellar-Davis, Inc.
A Professional Real Estate Corporation
16670 Soledad Cyn Rd., Santa Clarita, CA 91387

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The accuracy of all information, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals.

Information subject to errors, omissions, and change or cancellation at any time, thus properties shown here may no longer be available.
Properties shown may be held by brokerage firms other than Kellar-Davis, Inc. and/or LeeAnn Bell
___

Upload your own photos and/or share your stories of Santa Clarita below by Posting A Comment ... all comments are welcome!

FOR SALE in Friendly Valley - A Gated, Age 55+, Golf Community

2011-11-02T12:00:00.000-07:00

The HOMES FOR SALE shown on this Page are updated daily

Do you have a loved one who is ready to move into a Gated Seniors Community? Or are you 55+ years of age and ready to move into a quieter area? Would you also love the option of playing golf in your own community? Or having a Shuttle Bus take you to the nearby shopping areas?

If you answered YES to any of these questions then Santa Clarita's Friendly Valley Gated Senior's Community could be just the place for you!

By clicking on this LINK you will be taken to my DAILY UPDATED and FULLY AUTOMATED webpage, showing all homes currently FOR SALE in the Friendly Valley Seniors Community. (Other detailed information and photos about Friendly Valley can be found HERE).

And an AUTOMATED DAILY UPDATED webpage can be made available right to your email box...for ANY community in the Santa Clarita Valley.

Just send me an email, at LeeAnnRealtor@yahoo.com requesting your own free DAILY UPDATED FULLY AUTOMATED search. Please include in your email which tract or city you would like to purchase in, how many bedrooms you desire, the price range, and whether you desire a condo, town-home, or single family residence.

Or, of course, you are always welcome to contact me directly to discuss these or other real estate questions at:

LeeAnn Bell, REALTOR(R) ... 661-309-2364

Your success in finding a home you love is my goal!

___

What previous clients have to say about working with me:

"Thank you for setting me up on this automated service. It really is great to see all the homes as they come up for sale"

- Johnathan B., Canyon Country

"I love the automated search you send to my email. It makes finding the right home so easy."

- Diane F., Canyon Country

"You have lots of patience! You are considerate about feelings, but still have business sense. Thank you for your help."

- Bob L.

HOAs in financial trouble leave homeowners picking up costs

2011-11-01T17:15:00.000-07:00

Are you looking to purchase a property with a Home Owners Association?

In my Article, posted HERE, I made mention of some the of Restrictions that Home Owner Associations place on their residents, however, in this post I wanted to make the reminder that you, as a Buyer, should also look at the financial stability of the HOA that you are desiring to purchase into.

Because of the number of current Foreclosures, some Home Owner Associations are not collecting the monthly dues necessary to keep their "reserves"* up, which could mean that homeowners in the community could find themselves facing special assessments to cover costs of any repairs that need to be done. (*reserves: funds earmarked for future use, such as future repairs expected)

Amenities such as pools, roofs, rec areas, etc, are usually paid for from the HOA's reserves ... monies, which are collected monthly from the homeowners, knows as monthly dues, and kept in a reserve account for when needed.

But what happens when the monthly dues needed are not being paid, because too many units in the community are vacant due to Foreclosure? The reserves drop and the up-keep, maintenance and repair of the community could suffer ... or special assessments can be demanded of the current homeowners.

When you, as a potential Buyer, get your HOA Documents during Escrow, don't be tempted to lay them aside, thinking they are not important to you as an individual. Read the Minutes of the HOA Meetings. Read any Financial Statements supplied. Look to see if any special assessments are coming up, or have been charged recently to the homeowners. And check to see if your particular unit/property has any un-paid dues which you may be responsible for if you purchase the property.

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Above information provided as a courtesy and not meant as legal advice.
I suggest you have an appropriate professional go over all your HOA Documents with you, before closing Escrow.

For all of your Real Estate needs in the Santa Clarita Valley, and for help in negotiating the new challenges of buying in an HOA community,

do not hesitate to contact me at:

LeeAnn Bell 661-309-2364 or

LeeAnnRealtor@yahoo.com

DRE License #01260650

Comments Welcome

READ about 2011 FHA MORTGAGE problems with HOA Complexes that are low in their reserves HERE

Home Owners Associations: the pros and cons

2011-11-01T16:05:00.000-07:00

Home Owners Associations...or HOA for short.

Some people would never live in a community that did not have a Home Owners Association while others would never consider living under any Associations rules...ever.

Which is right for you?

Before buying any property with a Home Owners Association, it would be good to review what Associations are legally able to enforce. Lets look at some PROS and CONS here to help you decide.

CONS:

When you purchase a property with a Home Owners Association, you give up some rights and agree to live by the rules of the Home Owners Association.

Some rights could be:

-the right to choose what color your home will be painted;
-the right to choose what kind of roof you want on your home;
-the right to choose when you will next paint or re-roof your home;
-the right to choose which plants will be in front of your house;
-the right to choose if you will park in your driveway or in your garage;
-the right to choose if you will leave your garage door open for any length of time, beyond just getting into the garage (its true!);
-the right to let your home go into any state of disrepair ... what is disrepair? any neighbor can complain to the Association what they think is disrepair, leaving the final decision up to the Association;
-the right to rent out your property if you no longer want to live there;
-the right to keep pets;
-the right to even have a dumpster put in front of your home, when you are moving or remodeling unless you pay the Association a fee (as well as the rental fee of the dumpster) and making sure it is removed within the time specified by the Association;
-how about the right to NOT put up Christmas Lights, if you don't want to!
and on and on and on

Failure to live by the Associations Rules can lead to fines and failure to pay your HOA Dues and/or fines can also lead to you having the Association file a LIEN against your home.

Of course not all Associations enforce each of the rules I've mentioned above, (and of course some Associations have rules I have not even mentioned here) but this list is put here to show you what I have personally seen as enforceable RULES from varying Home Owners Associations over the years of selling Real Estate in the Pasadena, La Crescenta, La Canada, Sunland, and now Santa Clarita neighborhoods.

PROS:

"But what about the benefits?" some will ask. These are the people who love living under a set of rules so that they won't have to put up with neighbors who want to paint their houses neon lime green or who park their extra large work trailers on the street every evening, weekend and holiday...never mind the boats, water ski-dos, camper trailers, RVs, and more which can be seen on many Southern California streets, driveways, and even lawns!

The benefits of the Home Owners Association will be just that! The Rules will keep your street and neighbors in line. They will keep your front lawns looking good, and keep the paint from peeling on any single home in the Association.

And if a neighbor steps out of line ... wham-o ... a fine will be slapped on them.

How about a $100 per day fine? Is that fair? Would you want that thrown at you if you stepped out of line, knowingly or unknowingly? Would you like that threat constantly hanging over your head, all the years that you lived in your newly purchased "dream home"? (See here about the $100/day fine for wrong colored mulch.)

Of course the choice is yours to make, but make sure you are informed before you close Escrow on your new purchase. HOA documents are very SLOW at making their appearance during the Escrow, I have found, so do some homework on your own while waiting for the Documents...knock on neighbors doors in the community in which you want to purchase or stop to talk with anyone out watering their lawns or walking their dogs, ask how intrusive the HOA rules are, and then READ YOUR HOA DOCS which will be provided (at some point) during your Escrow!

You just may find that you may not want to live under their heavy-handed rules.

For all of your real estate needs or questions in the Santa Clarita Valley contact me at:

LeeAnn Bell 661-309-2364 or
LeeAnnRealtor@yahoo.com

DRE License #01260650

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READ about HOA Complexes and their current trouble with FHA FINANCING HERE

FHA 203(k) Rehab Loan - a loan to help that "Fixer Upper" you just found

2011-10-27T10:22:00.000-07:00

Have you found a home to purchase which you think would be just perfect, if only you had the extra cash to rehab it and bring it up to livable standards?

It can be hard for many to not just come up with a Down Payment for a new home, but add on top of that all inspections one may want to do during Escrow and the additional Closing Costs ... how does anyone have money left over for repairs which are necessary on so many distressed sales?

The FHA 203(k) Rehab Loan could be exactly what you are in need of. Read below:

Home buyers thinking of purchasing a distressed property in need of repair, but who are concerned that the cost of the repairs could drain their savings account may qualify for the Federal Housing Administration’s (FHA) 203(k) rehabilitation program.

The FHA’s 203(k) rehabilitation program provides loans for covering renovation costs as well as the purchase price of the primary residence. Investors are not eligible for this program. Additionally, similar to traditional FHA loan programs, the rehab program allows for a down payment of as little as 3.5 percent.

A common misperception about the program is that the house needs to be unlivable. Realistically, the property just needs to be outdated, according to a lender familiar with the program. The property “just has to appraise below market value and then at market value with the repairs.”

Improvements deemed “luxury” are ineligible; however, the program has a wide range of definitions for “repairs” and “modernization.” Covered repairs include items such as a new roof or heating system, as well as decorative changes, like replacing vinyl with ceramic tile on the kitchen floor or painting the interior.

In addition to putting down at least 3.5 percent of the current value of the property, buyers also must use a HUD-approved lender, appraiser, and a contractor approved by the lender for the repairs. One list of approved businesses can be found at 203kcontractors.com.

Borrowers considering the FHA rehab loan program should be aware that loan rates typically run around a percentage point higher than conventional loans, and come in 15- to 30-year terms, either fixed or adjustable. Additional paperwork for inspection, appraisal, title updating, and the like can increase closing costs by $1,000 or more higher than the average.

For additional information about the FHA 203(k) rehabilitation program, please visit http://www.hud.gov/offices/hsg/sfh/203k/203kabou.cfm
Market Matters is published by the CALIFORNIA ASSOCIATION OF REALTORS®, a trade association representing more than 175,000 REALTORS® statewide.

Contact me if you are thinking of purchasing a home which needs some extra money put into it to become livable.

And if you are interested in finding distressed and/or foreclosed homes in the Santa Clarita Valley, email or phone me and ask to be put onto my DAILY AUTOMATED SEARCH SYSTEM which will send your personal home search criteria directly to your email in-box daily. (Click this LINK to see an example of a personal Automated Search Page)

No matter where in Santa Clarita you are looking, it would be my pleasure to help get you into a home you will love!

LeeAnn Bell, REALTOR(R)
661-309-2364
LeeAnnRealtor@yahoo.com

DRE License #01260650

Comments Welcome

The Home Buying Process

2011-10-27T10:08:00.000-07:00

When it comes to buying a house, many Buyers do not know what steps to take. Many think they know what price range they can afford and so go looking at homes in that price range. But sadly, many Buyers get excited about the homes they find in that price range only to find out later that they actually cannot afford such a price range, because of the monthly additional costs of Home Ownership.

So, for Buyers who are just starting the process of thinking of buying a home, I have written down some steps that every Lender and/or REALTOR(R) will have you take before you can write an Offer on the house of your dreams.

Step #1 - Contact a Lender

Many Home Buyers do not want to start here, thinking they are just in the beginning stages and don't want a Lender involved yet, however, this is the first and foremost step to take so that you can know exactly what Loan Amount you can qualify for. Your REALTOR(R) will want to know that you have spoken to a Lender before you start going into Homes For Sale as well, as REALTORS(R) have seen too many times, Buyers get their hopes dashed regarding the price range they can afford when they have looked at beautiful homes in one price range only to find they cannot qualify for any of them.

Your Lender will want to know:
What is your current income;
How long have you been employed with your current employer;
How much in savings you have;
What your current FICO score is (some information regarding FICO scores are found HERE).

And remember to shop around when looking for a Lender. You will find that their costs and the interest rate you may get can vary between Lenders.

Step #2 - Start saving every nickle you have for a good Down Payment and Closing Costs.
If you want to be a Home Owner this will not be a hard task but an exciting one. And an important cost to remember is Closing Costs, which many Buyers forget about. Closing Costs will include the cost that your Lender will charge you for getting you a Loan; Escrow Costs which the Escrow Company will charge you for handling the funds and documents of the process of Buying a Home; your Property Insurance and Taxes; and other miscellaneous costs involved in Purchasing and Closing the Purchase of a Home (a more detailed breakdown on Closing Costs can be found HERE).

Step #3 - Contact a REALTOR(R)

If you want to start looking inside homes that you can afford, a REALTOR(R) will be the best way to help you do this. Keeping your REALTOR(R) informed about your likes and dislikes, and about any major changes in your job, income, major expenses that suddenly appear, along with location needed to live, etc. will help keep your REALTOR(R) looking in the right areas for you. And remember that your REALTOR(R) has the most current and up-to-date list of Homes that are For Sale in the area and price range that you are interested in versus the on-line data suppliers which often times are giving information that has not been updated. Your REALTOR(R) should be out to help make the Home Buying process as easy for you as possible, supplying answers to all your questions in the most easily understood way possible.

Step #4 - Write an Offer and open Escrow on your new Home
This process can be overwhelming to Buyers who are not used to the amount of Paperwork and Disclosures that will be involved in purchasing a Home. Choosing the correct REALTOR(R) who has a patient disposition from the start and one who is willing to answer every question thoroughly and simply is the REALTOR(R) that you should choose to help navigate you through this sometimes overwhelming and ofttimes, time consuming, process.

Here is what one client had to say about working with me:

"You were easy going, not pushy, yet knowledgeable, helpful and friendly. Not only knowledgeable but honest to the point of offering careful and helpful advice".

- Alan L

If you need any help in finding a home to buy in the Santa Clarita Valley or if you have questions about the Home Buying Process, please feel free to contact me directly by telephone, 661-309-2364 or by email, LeeAnnRealtor@yahoo.com.
It will be my pleasure to make the Home Buying Process as easy, enjoyable, and as understandable as possible for you.

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Bridgeport Valencia Homes For Sale

2011-10-26T20:17:00.000-07:00

This page is updated daily
showing Homes for Sale in the beautiful Bridgeport Community in Valencia, California.

There are many beautiful homes, town homes and condos for sale in

Bridgeport ... a gorgeous Planned Community, with a man-made lake, in the heart of the wonderful city of Valencia, California

This LINK will show you the most current Bridgeport Homes For Sale

Receive your own FREE

Fully Automated Daily Updated email with photos and prices as seen in the LINK above
for Bridgeport or ANY AREA and for ANY PRICE RANGE in SANTA CLARITA
by sending me an email at:
LeeAnnRealtor@yahoo.com
or by calling me at 661-309-2364

Request your own "FULLY AUTOMATED DAILY NOTIFICATION" by emailing me and letting me know which city you are interested in purchasing in, what price range you desire, how many bedrooms and if you want a condo or a Single Family Residence.

* *
About BRIDGEPORT in Valencia, CA

The beautiful planned community of Bridgeport is split into nine differing communities consisting of condos, town homes, and single family residences with a total of approximately 800 residences. Don't think that you will feel "crammed" in this community, however, when you read that there are 800 residences. The Developers have done an outstanding job of tree lining streets, even in the condominium areas, and building miles of walking paths around the Lake making this community an absolute delight to live in!

Beautiful Condos are found inside the
Bridgeport Community

with the current starting prices at approximately $260,000

Units range from

990 to 1046 square feet

There are also lovely town homes

currently starting at approximately

$325,000

and ranging from approximately

1300 to 2100+ square feet

This lovely kitchen gives an example of the size of a kitchen in a town home at Bridgeport

The Townhouses also have 2 car attached garages

This is a look inside the dining and living area of a Bridgeport Town home

Perhaps you would prefer a detached home?

Single Family Residences range from 1740 square feet up to 4500+

and are currently starting at about $420,000 for a 3 bedroom, 3 bath 1796 square foot home with prices going up over the one million dollar mark ... with million dollar views, I might add

The Photo to the right is a beautiful 3 bedroom, 3 bath located on Twin Tides
Call me at 661-309-2364
for details or for a private viewing

This is an example of another
3 bedroom, 3 bath, 1796 square foot home

... with a lovely
two-sided fireplace

Here is an example of a gorgeous

4 bedroom, 4 bath

3,255 square foot home

... and a 3 bedroom, 4 bath
3,024 square foot home ...

If you absolutely MUST HAVE a home ON THE LAKE

"The Island" could be the tract for you.

With homes that vary from approximately 3,084 to 4,538 square feet, "The Island" has two-story, 3-6 bedroom homes boast of private yards with most of them facing the Lake!

This is a view of the beautiful Lake at Bridgeport

Another view of the Lake and its Clubhouse
which boasts of ducks, turtles and offers you the fun of a paddle boat on weekends!

and the HOA swimming pool

This stunning community,
and its wonderful, central location in Valencia,
makes this a great place to call "home"

Receive your own FREE

Fully Automated Daily Updated email with photos and prices
for Bridgeport or ANY AREA and for ANY PRICE RANGE in SANTA CLARITA
by sending me an email at:
LeeAnnRealtor@yahoo.com

Request your own "FULLY AUTOMATED DAILY NOTIFICATION" by emailing me and remember to detail which city you are interested in purchasing in, what price range you desire, how many bedrooms and if you want a condo or a Single Family Residence.

Or if you prefer,
feel free to call my cell phone for a personal tour of the homes currently for sale anywhere in Santa Clarita, or to get your Fully Automated Email Notification set up:

LeeAnn Bell 661-309-2364 or
LeeAnnRealtor@yahoo.com

REALTOR(R), DRE License #01260650

_________

Here is what a recent client had to say about working with me:

Given the difficulties this sale presented (the foundation was cracked) you offered every option, answered all questions, and explained all paperwork immediately. I would not hesitate to refer you to my family and friends.
- Gary R.

LeeAnn Bell with the 2010 California Poppies
REALTOR(R) since 1998

661-309-2364

LeeAnnRealtor@yahoo.com
Kellar-Davis, Inc.
A Professional Real Estate Corporation
16670 Soledad Cyn Rd., Santa Clarita, CA 91387

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How Long Should You Keep Your Real Estate Tax Files

2011-10-06T17:20:00.000-07:00

I received a question from a client asking how long he should keep his file after the sale of his property, for IRS purposes. Below is my response:

Hi Gary:

In response to your question regarding how long you should keep your tax records for the sale of the Eagle Rock home, I'm posting below some information from the IRS website (found HERE).

How Long To Keep Records

You must keep your records as long as they may be needed for the administration of any provision of the Internal Revenue Code. Generally, this means you must keep records that support items shown on your return until the period of limitations for that return runs out.

The period of limitations is the period of time in which you can amend your return to claim a credit or refund or the IRS can assess additional tax. Table 3 contains the periods of limitations that apply to income tax returns. Unless otherwise stated, the years refer to the period beginning after the return was filed. Returns filed before the due date are treated as being filed on the due date.

Table 3. Period of Limitations

IF you... THEN the
period is...
1 Owe additional tax and
(2), (3), and (4) do not
apply to you 3 years
2 Do not report income that
you should and it is more
than 25% of the gross
income shown on your
return 6 years
3 File a fraudulent return No limit
4 Do not file a return No limit
5 File a claim for credit or
refund after you filed
your return The later of 3 years or 2 years after tax was paid.
6 File a claim for a loss from
worthless securities 7 years

Property. Keep records relating to property until the period of limitations expires for the year in which you dispose of the property in a taxable disposition. You must keep these records to figure your basis for computing gain or loss when you sell or otherwise dispose of the property. Generally, if you received property in a nontaxable exchange, your basis in that property is the same as the basis of the property you gave up. You must keep the records on the old property, as well as the new property, until the period of limitations expires for the year in which you dispose of the new property in a taxable disposition.

Keeping records for nontax purposes. When your records are no longer needed for tax purposes, do not discard them until you check to see if they should be kept longer for other purposes. Your insurance company or creditors may require you to keep certain records longer than the IRS does.

How To Get Tax Help
You can get help with unresolved tax issues, order free publications and forms, ask tax questions, and get information from the IRS in several ways. By selecting the method that is best for you, you will have quick and easy access to tax help.
Contacting your Taxpayer Advocate. The Taxpayer Advocate Service (TAS) is an independent organization within the IRS whose employees assist taxpayers who are experiencing economic harm, who are seeking help in resolving tax problems that have not been resolved through normal channels, or who believe that an IRS system or procedure is not working as it should. Here are seven things every taxpayer should know about TAS:

TAS is your voice at the IRS.
Our service is free, confidential, and tailored to meet your needs.
You may be eligible for TAS help if you have tried to resolve your tax problem through normal IRS channels and have gotten nowhere, or you believe an IRS procedure just isn't working as it should.
TAS helps taxpayers whose problems are causing financial difficulty or significant cost, including the cost of professional representation. This includes businesses as well as individuals.
TAS employees know the IRS and how to navigate it. We will listen to your problem, help you understand what needs to be done to resolve it, and stay with you every step of the way until your problem is resolved.
TAS has at least one local taxpayer advocate in every state, the District of Columbia, and Puerto Rico. You can call your local advocate, whose number is in your phone book, in Pub. 1546, Taxpayer Advocate Service—Your Voice at the IRS, and on our website at www.irs.gov/advocate. You can also call our toll-free line at 1-877-777-4778 or TTY/TDD 1-800-829-4059.

You can learn about your rights and responsibilities as a taxpayer by visiting our online tax toolkit at www.taxtoolkit.irs.gov.

I would think you are safe in letting your records go now, considering the length of time that has past since that home sold, however to be confident I would suggest asking your Tax Account.

Good to hear from you,
LeeAnn

* * *

If you have any Real Estate questions, please feel free to email or phone me for a answer. If I can't answer your question myself, I will put you in contact with the appropriate professional who can.

And for all of your Real Estate needs in the city of Santa Clarita feel free to contact me:
LeeAnn Bell, REALTOR(R) ...
661-309-2364 or LeeAnnRealtor@yahoo.com
DRE License# 01260650

All Comments Welcome

___

	IF you...	THEN the period is...
1	Owe additional tax and (2), (3), and (4) do not apply to you	3 years
2	Do not report income that you should and it is more than 25% of the gross income shown on your return	6 years
3	File a fraudulent return	No limit
4	Do not file a return	No limit
5	File a claim for credit or refund after you filed your return	The later of 3 years or 2 years after tax was paid.
6	File a claim for a loss from worthless securities	7 years