This Story First Appeared in The Daily News, Saturday July 22, 2006
A long waged battle has come to a close where neighbors pitted against one another, the City vs the County all for a smidge of land next to a very hot parcel.
The Stonecrest neighborhoods in Canyon Country - the closest homes to the planned and contested Cemex sand and gravel mine, will be annexed to Santa Clarita, Officials announced Friday that an insufficient number of protests were submitted, which means the annexation will go through.
The jest of it, the City wanted this land in a big way!
The City of Santa Clarita wanted jurisdiction of the neighborhood to extend city boundaries toward the planned 56.1-million-ton quarry the City is seeking to regulate.
Sandor Winger, executive officer of the county Local Agency Formation Commission, which determines municipal boundary changes, is quoted as stating: "will recommend that the full commission approve the annexation, the 28th since the city formed in 1987".
Several residents withdrew their objections, reducing protests below the limit to force for a vote.
Santa Clarita already has purchased land at the mining site and, while it doesn't own the mining rights, it seeks more oversight and hopes to reduce the scope of the Cemex operation.
Cemex plans to mine 177 acres over 20 years on the southern slope of a ridge just off Soledad Canyon Road - about a quarter-mile-long stretch - east of the Antelope Valley Freeway. The Mexico-based company expects to begin operating there in 2008. The property is a mile from the 600-plus Stonecrest homes.
Santa Clarita's attempts to annex its land above the mine - on hold pending the Stonecrest annexation - is not possible because the land is not contiguous.
If the Stonecrest annexation is finalized, though, LAFCO will proceed immediately to consider annexation of the city land, Winger said.
City spokesperson Gail Ortiz is quoted "Cemex is one of the (Environmental Protection Agency's) top violators, so we're very concerned about having them as our neighbor," said Gail Ortiz, the city's spokeswoman. "We want to make sure all the appropriate ordinances are in place to regulate them properly. If they're in the city of Santa Clarita, there will be no free ride for them."
A spokeswoman for the worldwide conglomerate disagreed.
"Yet again, the city has chosen to engage in gross mistruths and unsubstantiated allegations," Cemex spokeswoman Susana Duarte said Friday. "Cemex conducts its operations in compliance with all laws and regulations and engages in responsible business practices. This is an unfortunate use by the city of the annexation process. As project obstruction, it's not the type of objective the annexation laws were designed to achieve."
In December, Cemex filed a lawsuit in state court challenging the environmental review in the annexation papers. Duarte said the company will continue to watch the process with interest and will continue pursuing all legal recourse.
The city has spent more than $6 million battling the mine. U.S. Rep. Howard P. "Buck" McKeon, Santa Clarita's first mayor, introduced a bill in May to cancel Cemex's lease and limit any future mining operations on the site to historic levels of 300,000 tons a year. The measure will probably not be considered until next year, though, and McKeon has said its chance of passage is slim.
The county had rejected the mine, but conceded when Cemex filed a lawsuit in federal court in 2002. County supervisors granted the mining permit in June 2004 under a court-approved consent decree. The decree was upheld in February in spite of the city's appeal.
LAFCO tentatively approved the Stonecrest annexation in January, but when more than 300 protests were received just before the decision was finalized in February, a protest hearing was set.
In March, Supervisor Michael D. Antonovich intervened on behalf of a group of Stonecrest residents who protested the annexation but failed to follow LAFCO's protocols, asking that they be given a second chance. After a procedural error by LAFCO, a new public hearing was needed.
"The supervisor's position has consistently been, the will of the people shall dictate their destiny," said Tony Bell, a spokesman for the supervisor, noting that Antonovich has opposed the mine since the proposal's inception.
Although 253 Stonecrest residents lodged protests with LAFCO by the June 28 hearing, the letters were offset by 62 protest withdrawals and 48 ineligible protests. The remaining 143 valid protests accounted for about 12 percent of eligible residents, below the 15 percent required to trigger a vote.
About two years ago, city officials and staff members began canvassing Stonecrest residents, urging them to support annexation, and in April the city hosted a community meeting touting the benefits of cityhood, which was followed in May by a meeting hosted by county officials.
Some Stonecrest residents questioned the outcome.
"I find this very suspicious, considering the forces against the residents only asking for a chance to vote for the measure," said resident Daniel Henriquez, who e-mailed a critical letter to LAFCO on Friday. "The entire process was handled in a manner nothing less than deceiving and fraudulent and as such, I believe the tally to be incorrect and should be recounted and verified by an outside independent agency."
In 18 years of cityhood, this is only the second time an annexation protest was lodged.
"The city of Santa Clarita is pleased to welcome the Stonecrest community as the 28th annexation and looks forward to providing them with outstanding levels of public service," spokeswoman Ortiz said.
Saturday, July 22, 2006
Every One Wants The Magic
This story first appeared Friday July 21 in the Signal.
West Ranch Wants in on Magic
Now it seems that every one wants a piece of Magic Mountain. West Ranch Town Council voiced concerns about being "left in the dark" after the City of Santa Clarita stepped up to the plate a couple weeks ago and wants to assist the folks at M.M.
As Magic Mountain is in an unincorporated portion of the County, the City has no formal right to anything in regard to the decisions for the future of the park.
The article goes on to state "The city of Santa Clarita's outreach process to Six Flags concerning a potential annexation of Magic Mountain has a county town council complaining of being left in the dark". West Ranch council president Dave Bossert is quoted as: "I would commend (Santa Clarita) on (its) ability to try and save the business or work with Six Flags in order to secure jobs for the area but I wish they would partner more with the town councils in the unincorporated areas surrounding the city,"
"It's all in the talking stages," said city spokeswoman Gail Ortiz. "No letter's been sent. No call's been made" and the city's main focus is to keep the park open. Ortiz continued saying that once they have a plan formulated then they will consult with neighboring communities and is quoted, "We have no intention of going behind anyone's back on anything."
Apparently both the City of Santa Clarita and the County of Los Angeles are going to jockey for position on this one.
The city's trump card is hoping to win over Six Flags toward annexation would be cheaper taxes. The city spokeswoman Gail Ortiz is quoted as: "The absence of a business license tax, an admission tax or 5 percent utility user tax could save the park "hundreds of thousands of dollars" annually,"
Now hang on a minute, Castaic is jumping on this late bandwagon too,
Lloyd Carder, president of the Castaic Area Town Council, said "the county should take a look at its utility tax. The county's going to have to re-evaluate this 5 percent utility user tax," Carder said. "This seems to be a real tool the city's using. Maybe it's served its due because now it seems to be more of a thorn."
[Well, I applaud the City of Santa Clarita for devising this proposal, now the outlying City Councils want a piece of the pie where were they 3 weeks ago when this story first came to light?]
West Ranch Wants in on Magic
Now it seems that every one wants a piece of Magic Mountain. West Ranch Town Council voiced concerns about being "left in the dark" after the City of Santa Clarita stepped up to the plate a couple weeks ago and wants to assist the folks at M.M.
As Magic Mountain is in an unincorporated portion of the County, the City has no formal right to anything in regard to the decisions for the future of the park.
The article goes on to state "The city of Santa Clarita's outreach process to Six Flags concerning a potential annexation of Magic Mountain has a county town council complaining of being left in the dark". West Ranch council president Dave Bossert is quoted as: "I would commend (Santa Clarita) on (its) ability to try and save the business or work with Six Flags in order to secure jobs for the area but I wish they would partner more with the town councils in the unincorporated areas surrounding the city,"
"It's all in the talking stages," said city spokeswoman Gail Ortiz. "No letter's been sent. No call's been made" and the city's main focus is to keep the park open. Ortiz continued saying that once they have a plan formulated then they will consult with neighboring communities and is quoted, "We have no intention of going behind anyone's back on anything."
Apparently both the City of Santa Clarita and the County of Los Angeles are going to jockey for position on this one.
The city's trump card is hoping to win over Six Flags toward annexation would be cheaper taxes. The city spokeswoman Gail Ortiz is quoted as: "The absence of a business license tax, an admission tax or 5 percent utility user tax could save the park "hundreds of thousands of dollars" annually,"
Now hang on a minute, Castaic is jumping on this late bandwagon too,
Lloyd Carder, president of the Castaic Area Town Council, said "the county should take a look at its utility tax. The county's going to have to re-evaluate this 5 percent utility user tax," Carder said. "This seems to be a real tool the city's using. Maybe it's served its due because now it seems to be more of a thorn."
[Well, I applaud the City of Santa Clarita for devising this proposal, now the outlying City Councils want a piece of the pie where were they 3 weeks ago when this story first came to light?]
Money Magazine Names Best Places To Live
For this years Money Magazine Best Places to Live contest, Santa Clarita, CA received place 18 out of the top 100. The competition was steep as many fabulous cities were in the running. To see how they arrived at the decisions and the criteria, visit this link, http://money.cnn.com/magazines/moneymag/bplive/2006/faq/
Friday, June 23, 2006
Sale Of Magic Mountain Possible
Magic Mountain sale possible
Six Flags struggling with low earnings
Daily News Staff and Wire Services
VALENCIA - Citing hurdles in its efforts to attract families instead of just teens to its theme parks, Six Flags Inc. said Thursday it will consider selling Magic Mountain, Hurricane Harbor and five other properties.
The New York-based company's share plummeted 19 percent after Six Flags' announcement that it might fail to reach a previous earnings forecast, and the need to modify terms with lenders.
The family strategy was expected to bring in a customer base that would spend more money than the teens who flock to the parks for the white-knuckle rides.
"What has been unexpected thus far is that the families we are targeting to replace those teens have been harder to attract than anticipated," said Mark Shapiro, president and chief executive officer. "Make no mistake about it, families are coming back - as evidenced by our solid increase in per capita guest spending - but not as quickly as we had hoped."
Read The Six Flags Magic Mountain Article
Six Flags struggling with low earnings
Daily News Staff and Wire Services
VALENCIA - Citing hurdles in its efforts to attract families instead of just teens to its theme parks, Six Flags Inc. said Thursday it will consider selling Magic Mountain, Hurricane Harbor and five other properties.
The New York-based company's share plummeted 19 percent after Six Flags' announcement that it might fail to reach a previous earnings forecast, and the need to modify terms with lenders.
The family strategy was expected to bring in a customer base that would spend more money than the teens who flock to the parks for the white-knuckle rides.
"What has been unexpected thus far is that the families we are targeting to replace those teens have been harder to attract than anticipated," said Mark Shapiro, president and chief executive officer. "Make no mistake about it, families are coming back - as evidenced by our solid increase in per capita guest spending - but not as quickly as we had hoped."
Read The Six Flags Magic Mountain Article
Friday, May 19, 2006
Surge in Listings Balances Santa Clarita Valley Home Resale Market
Sales of existing single-family homes and condominiums throughout the Santa Clarita Valley have slowed from the record-setting pace of recent years, but activity remains strong as a larger inventory of homes listed for sale offers unprecedented opportunities for buyers, the Southland Regional Association of Realtors reported on Wednesday, May 17.
There were 1,929 active listings at the end of April on the Multiple Listing Service operated by the Association. That was a 247.6 percent increase from a year ago when the MLS reported fewer than 555 active listings.
Read the entire press release here
There were 1,929 active listings at the end of April on the Multiple Listing Service operated by the Association. That was a 247.6 percent increase from a year ago when the MLS reported fewer than 555 active listings.
Read the entire press release here
Saturday, April 22, 2006
Unpermitted bathroom will likely cause grief for home sellers
Inman News Features
Friday, April 21, 2006
Q: We put a second bathroom in the basement of our home, without getting a permit. A well-respected contractor did everything to code. Our concern is what happens if and when we want to sell. Can we advertise it as a two-bathroom house? Do we face any fines? --Matt A.
Read The Inman News Article Here
Friday, April 21, 2006
Q: We put a second bathroom in the basement of our home, without getting a permit. A well-respected contractor did everything to code. Our concern is what happens if and when we want to sell. Can we advertise it as a two-bathroom house? Do we face any fines? --Matt A.
Read The Inman News Article Here
Sunday, March 26, 2006
Repairs Before The Sale
It goes without saying that you will want to make some repairs to your home before the sale. In fact most home sales include a home inspection clause, and depending on how its written, can allow the buyer to cancel the contract if the inspection report is not satisfactory or if the seller will not make certain repairs. How can you alleviate this headache if you are a seller? The process starts with a tour through your home, interior and exterior. When I take a listing part of my service is to do this with you and suggest necessary repairs for you to do before we get to negotiating with a buyer.
Some items can be as simple as a fresh coat of paint, others are more complex such as that sticky slider going out to the back door! You may have gotten used to it, but your prospective buyer will just look at it as a problem. {A quick fix ... Get a cube of solid paraffin wax and rub along all the tracks of the door, on the bottom and along all sides.}
The home inspection may uncover something that needs repair and after the buyer reviews the report with their agent, the buyer may come back and ask you for a discount ... And many times this reopens the negotiations. Something you want to avoid.
So what is really needed to be competitive in our present market? Every home is unique, Just give me a quick call and we'll see what's best for your home in today's market.
Some items can be as simple as a fresh coat of paint, others are more complex such as that sticky slider going out to the back door! You may have gotten used to it, but your prospective buyer will just look at it as a problem. {A quick fix ... Get a cube of solid paraffin wax and rub along all the tracks of the door, on the bottom and along all sides.}
The home inspection may uncover something that needs repair and after the buyer reviews the report with their agent, the buyer may come back and ask you for a discount ... And many times this reopens the negotiations. Something you want to avoid.
So what is really needed to be competitive in our present market? Every home is unique, Just give me a quick call and we'll see what's best for your home in today's market.
Heat and Air Conditioner Work Law
Contractors State License Board Alerts Contractors to
New Heat and Air Conditioner Work Law
Consumers will also feel the effect of new rules
Sacramento -- The Contractors State License Board (CSLB) has teamed up with the California Energy Commission (CEC) to get the word out about new energy code requirements that go into effect on October 1, 2005 that contractors must meet. Under the new law (Building Energy Efficiency Standards, Title 24, Part 6), contractors must test a home's ducts for leaks when a new central air conditioner or furnace is installed or replaced. If the ducts leak 15% or more, they must be repaired.
To read how it may affect you, visit the Air Duct Sealing, Contractors State License Board
New Heat and Air Conditioner Work Law
Consumers will also feel the effect of new rules
Sacramento -- The Contractors State License Board (CSLB) has teamed up with the California Energy Commission (CEC) to get the word out about new energy code requirements that go into effect on October 1, 2005 that contractors must meet. Under the new law (Building Energy Efficiency Standards, Title 24, Part 6), contractors must test a home's ducts for leaks when a new central air conditioner or furnace is installed or replaced. If the ducts leak 15% or more, they must be repaired.
To read how it may affect you, visit the Air Duct Sealing, Contractors State License Board
Wednesday, March 22, 2006
The Termites In Mulch Myth
There has been a flurry of internet traffic related to an October 2005 press release on Louisiana State University's website regarding the potential spread of Formosan subterranean termites (FST) in mulch being produced from infested trees in hurricane effected areas of Louisiana.
This email erroneously implies that large retail home stores will purchase and re-sell bags of this mulch around the country – thereby spreading FST to currently infestation-free areas. Read the Pestworld article here
Related Reading: Break the Chain, help stop junk emails.
References: National Pest Management Association, Inc
This email erroneously implies that large retail home stores will purchase and re-sell bags of this mulch around the country – thereby spreading FST to currently infestation-free areas. Read the Pestworld article here
Related Reading: Break the Chain, help stop junk emails.
References: National Pest Management Association, Inc
Sunday, March 19, 2006
Smiser Mule Ranch
{Was there a real mule ranch at that site? Yes! a real working mule ranch was located on the site at Calgrove Blvd just south of Lyons Avenue. The late Sam Smiser, owned the Smiser Mule Ranch in Newhall, Calif., and was known throughout the country for his expertise as a mule producer and promoter.}
3/19/2006
Josh Premako / Signal Staff Writer
An open pasture once home to 30 mules on the east side of Interstate 5 north of Calgrove Boulevard is set to be transformed into an “urban mixed-use village” in the coming years.
The Monteverde Development Co. filed a preliminary proposal for the 37-acre project with the city of Santa Clarita earlier this week.
Read The Entire Signal Newspaper Article Here.
3/19/2006
Josh Premako / Signal Staff Writer
An open pasture once home to 30 mules on the east side of Interstate 5 north of Calgrove Boulevard is set to be transformed into an “urban mixed-use village” in the coming years.
The Monteverde Development Co. filed a preliminary proposal for the 37-acre project with the city of Santa Clarita earlier this week.
Read The Entire Signal Newspaper Article Here.
Saturday, March 04, 2006
Benz Road Traffic Relief
Benz Road residents can start enjoying some calm on their street. For years commuters within SCV have used Benz Road as a rush hour cut through when Copper Hill opened to Bouquet Canyon Road, with as many as 3,300 cars a day traveling through the sububia of this small street, natually homeowners have been downright angry at the city of Santa Clarita for not acting on the many complaints over the last couple of years.
The traffic engineer states that new restrictions on making turns onto the Copper Hill at Benz and Buckhorn Lane, and signs on Bouquet will prevent turns onto Sue Drive leading towards Benz. These are measures city officals say will aleiviate some 1300 cars from using the road during certain times of the day.
Residents have been quoted as stating that many drivers fail to stop at posted stop signs and are just plain bad drivers!
The traffic engineer states that new restrictions on making turns onto the Copper Hill at Benz and Buckhorn Lane, and signs on Bouquet will prevent turns onto Sue Drive leading towards Benz. These are measures city officals say will aleiviate some 1300 cars from using the road during certain times of the day.
Residents have been quoted as stating that many drivers fail to stop at posted stop signs and are just plain bad drivers!
Love My House, Love My Dog
SCOTT CITY, Mo. (March 3)
Rocky the dog has a new owner and a "nose for real estate".
The new home owners met Rocky while house-hunting in Scott City, Mo., and knew they'd found their home - and their new dog.
The seller couldn't keep Rocky, so written into the contract was Rocky listed as "personal property to stay"
The realtor was quoted as saying "never seen a contract like it"
I give the seller credit here instead of Rocky ending up in a shelter they have given Rocky a new lease on life! and apparently, the former owner can visit Rocky whenever they want. Kudos to the new homeowners for acepting responsibility for this little pooch.
Rocky the dog has a new owner and a "nose for real estate".
The new home owners met Rocky while house-hunting in Scott City, Mo., and knew they'd found their home - and their new dog.
The seller couldn't keep Rocky, so written into the contract was Rocky listed as "personal property to stay"
The realtor was quoted as saying "never seen a contract like it"
I give the seller credit here instead of Rocky ending up in a shelter they have given Rocky a new lease on life! and apparently, the former owner can visit Rocky whenever they want. Kudos to the new homeowners for acepting responsibility for this little pooch.
Arnold Comes To Castaic
Golf legend Arnold Palmer that is! The Los Angeles daily News reported Tuesday the 28th of February that Arnold Palmer is designing another of his signature golf courses. The first in the Los Angeles area.
"Los Valles" 18-hole par-71 private golf club will be located in the Hasley Canyon area of Castaic, I had driven thru the Canyon on Tuesday and saw the tents being set up for the annoucement.
The project is a joint venture between Palmer Investments Inc. and David Chapman Investment LLC.
The golf course will be surrounded by 209 estate homes within a gated community encompasing 433 acres. The lots, approximate half acre parcels with prices starting at $600,000, and golf course membership will start at $45,000.
Map courtesy of Los Angeles Daily News
Saturday, January 14, 2006
Top 10 Tax Breaks, On The House
The New Year always turns thoughts to the new tax season and when it comes to taxes there's no place like home to find shelter.
Your home offers a score of tax deductions and credits designed to help offset the cost of housing and to keep the housing market fueled with new buyers.
Some federal-level politicians would like to separate you from some of those benefits and they may or may not be successful, so take advantage of them while you can. READ THE ENTIRE ARTICLE HERE
Your home offers a score of tax deductions and credits designed to help offset the cost of housing and to keep the housing market fueled with new buyers.
Some federal-level politicians would like to separate you from some of those benefits and they may or may not be successful, so take advantage of them while you can. READ THE ENTIRE ARTICLE HERE
Mortgage Rates Slip Slightly This Week
Freddie Mac today released the results of its Primary Mortgage Market Survey (PMMS) in which the 30-year fixed-rate mortgage (FRM) averaged 6.15 percent, with an average 0.6 point, for the week ending January 12, 2006, down from last week's average of 6.21 percent. Last year at this time, the 30-year FRM averaged 5.74 percent. READ THE FULL STORY->
Friday, January 13, 2006
Storm Damaged Road To Reopen
San Francisquito Road will open tonight to two lane traffic after a one year closure to allow work to be done by Caltrans crews to repair a section of road ravaged and swept away by last years torential downpours.
The canyon road which is a major artery for residents living in Green Valley and Lake Hughes.
With the road closed for so long it left only 2 ways to get into the canyon, the first being Bouquet Canyon Road and the second going up highway 14 and around the back side.
This road opening is very good news for everyone!
The canyon road which is a major artery for residents living in Green Valley and Lake Hughes.
With the road closed for so long it left only 2 ways to get into the canyon, the first being Bouquet Canyon Road and the second going up highway 14 and around the back side.
This road opening is very good news for everyone!
Tuesday, January 10, 2006
Newhall Land Settles Lawsuit
The Los Angeles Daily News reports today that Newhall Land has settled a lawsuit brought by homeowners of the Franciscan Hill condominium complex. The suit began in 1994 and stemmed from what homeowners describe as substandard construction of the homes in the complex. A total of 31 of the 71 units had to be bulldozed and completely rebuilt.
The 1994 Northridge quake destroyed many parts of San Fernando Valley and ravaged communities within Santa Clarita.
This suit has been an on going battle, pitting homeowners against the largest area home builder. The suit began in 1996 with the homeowners along with the HOA insurer, State Farm Fire and casualty Co. Going up against Newhall Land, stating construction defects were to blame for the extreme damage winning the suit in 2000 with compensation of $8.5 million, however the suit went to a jury trial and in December 2005 the plaintiffs were awarded $1.3 million. [Somewhere the other $3 million disappeared from this equation]
The community homeowners had been suprised that it has taken this long to settle however at this time they are happy that it is finally over.
The 1994 Northridge quake destroyed many parts of San Fernando Valley and ravaged communities within Santa Clarita.
This suit has been an on going battle, pitting homeowners against the largest area home builder. The suit began in 1996 with the homeowners along with the HOA insurer, State Farm Fire and casualty Co. Going up against Newhall Land, stating construction defects were to blame for the extreme damage winning the suit in 2000 with compensation of $8.5 million, however the suit went to a jury trial and in December 2005 the plaintiffs were awarded $1.3 million. [Somewhere the other $3 million disappeared from this equation]
The community homeowners had been suprised that it has taken this long to settle however at this time they are happy that it is finally over.
Monday, January 09, 2006
Real Estate In 2006
I'm feeling really very optimistic about real estate for 2006, my phone is ringing ... interest rates are still low, there is an actual "supply" of properties on the market now. (For more on a "normal" supply see below)
Sellers ... there are buyers out there. Make sure your home stands out amongst the other listings! One sure fire way is to keep your home tidy during the listing period. Lets face no one likes to clean! but it just takes a few minutes to get rid of clutter and put things out of sight when the appointments show up.
A great idea if you have youngtsers in the house, put each one in charge of a certain area not just their bedroom, say putting the newspapers in the recycle bin or wiping the smudgy mirror in the bathroom add a little something into their routine, it makes the kids feel more a part of selling the home and they do take a lot of pride at a finished task and best of all ... you'll be glad you asked them!
So now we have a supply of homes and the market is returning to what some call "normal" So ... what really is normal? The big question! A normal supply would be a inventory of x amount of available listings for a six month supply. New listings, active and pending all rotaing in and out of the equation.
A comparison would be here in Santa Clarita the last 2 to 3 years we had seen days go by with no available listings is certain neighborhoods due to new listings being snagged up the day they hit the market.
Sellers ... there are buyers out there. Make sure your home stands out amongst the other listings! One sure fire way is to keep your home tidy during the listing period. Lets face no one likes to clean! but it just takes a few minutes to get rid of clutter and put things out of sight when the appointments show up.
A great idea if you have youngtsers in the house, put each one in charge of a certain area not just their bedroom, say putting the newspapers in the recycle bin or wiping the smudgy mirror in the bathroom add a little something into their routine, it makes the kids feel more a part of selling the home and they do take a lot of pride at a finished task and best of all ... you'll be glad you asked them!
So now we have a supply of homes and the market is returning to what some call "normal" So ... what really is normal? The big question! A normal supply would be a inventory of x amount of available listings for a six month supply. New listings, active and pending all rotaing in and out of the equation.
A comparison would be here in Santa Clarita the last 2 to 3 years we had seen days go by with no available listings is certain neighborhoods due to new listings being snagged up the day they hit the market.
Friday, January 06, 2006
Anti-Bubble Reports
The National Association Of Realtors released a huge database of 135 market areas concerning the so called housing bubble. These reports were compiled by the NAR research staff. Each report covers a geographic area for instance the Los Angles report includes Long Beach and Santa Ana.
The reports state that home prices have risen significantly in most parts of the country and the media spreading talk of the bubble about to burst.
The reports do ease some fears that most folks may have about our market and the main focus of the reports is that there truly is no bubble, with stats to back up the claim.
Quoting the report Home prices have risen fasten than income levels, the ratio of price-to-income is currently above the historical norm. This measure is frequently cited to imply that there is a housing market bubble. NAR states this is a misleading measure in assessing bubble prospects. A more revelant measure is the mortgage servicing cost relative to income. This ratio is at a very manageable level. It implies no widespread financial overstreching to purchase a home.
If you would like a detailed report for your area, call Darla today!
"Reprinted from NATIONAL ASSOCIATION OF REALTORS®.
[October/November,2005] with permission of the
NATIONAL ASSOCIATION OF REALTORS®.
Copyright 2005. All rights reserved.”
The reports state that home prices have risen significantly in most parts of the country and the media spreading talk of the bubble about to burst.
The reports do ease some fears that most folks may have about our market and the main focus of the reports is that there truly is no bubble, with stats to back up the claim.
Quoting the report Home prices have risen fasten than income levels, the ratio of price-to-income is currently above the historical norm. This measure is frequently cited to imply that there is a housing market bubble. NAR states this is a misleading measure in assessing bubble prospects. A more revelant measure is the mortgage servicing cost relative to income. This ratio is at a very manageable level. It implies no widespread financial overstreching to purchase a home.
If you would like a detailed report for your area, call Darla today!
"Reprinted from NATIONAL ASSOCIATION OF REALTORS®.
[October/November,2005] with permission of the
NATIONAL ASSOCIATION OF REALTORS®.
Copyright 2005. All rights reserved.”
Home Demand Outruns Supply
Something we Californians are all too familiar with, the lack of available homes.
The California Building Industry reported in January that the denmand for homes will continue to outpace the supply.
Alan Nevin, the associations chief economist and forecast author is quoted in the Los Angeles Daily News business section on Thursday January 5, 2006 stating that our market here still remains strong and that some areas will see a return to a normal pace instead of the fast and frenzied pace our real estate market has experienced the last few years. Alan Nevin is also quoted as saying price increases for new homes should average between 5 and 8 percent across the state.
The California Building Industry reported in January that the denmand for homes will continue to outpace the supply.
Alan Nevin, the associations chief economist and forecast author is quoted in the Los Angeles Daily News business section on Thursday January 5, 2006 stating that our market here still remains strong and that some areas will see a return to a normal pace instead of the fast and frenzied pace our real estate market has experienced the last few years. Alan Nevin is also quoted as saying price increases for new homes should average between 5 and 8 percent across the state.
Happy New Year
New Year, Fresh Start, Clean Slate ... New Home for the New Year?
If you are considering a home purchase now or any time in the future, make sure you call Darla for your personalized tour of the Santa Clarita Valley!
If you are considering a home purchase now or any time in the future, make sure you call Darla for your personalized tour of the Santa Clarita Valley!
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