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
Saturday, January 14, 2006
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!
Subscribe to:
Posts (Atom)