- New Home Tours in the Antelope Valley
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What are your thoughts about buying a home that has already been lived in? If the answer is "No Thanks" then please read on...
Allow us to take you on a tour of the new home communities in Palmdale, Quartz Hill and Lancaster. We know where all the new communities are and we have researched prices, buyers incentives, tax rates, upgrades, etc. With the assistance of a knowledgeable Realtor, it can be filled with many great memories. Together, we will help you make it a positive experience.
Understand this, no two builders are alike. Homes differ just like their builders. As your Real Estate experts, we understand building a newly constructed home is among the top stressful events you will face in your life. There are a number of things that can go wrong, and so many people will not speak up and demand that the home is built right. If you are paying hundreds of thousands of dollars for a home it should be near perfect. We don't mind doing the dirty work. After all, that is our job. We are representing your interests.
The home buying process, especially buying new construction, is full of complicated decisions that most home buyers never think about.
1) The site agent represents the builder, they are not there to "help" the consumer.
2) A buyer's agent can inform the client of issues in construction, knows what questions to ask, you don't always get what you see.
3) How many of those foreclosures were with customers that had no representation? A lot of them! Funny how a house appraises for the builder, but when you go to resale, it doesn't, ever wonder how that happens?
4) An experienced agent will save the consumer money building with new construction, builders do not discount the price because the consumer has no representation. Real Estate is a huge investment, why not use a professional that has years of experience and knowledge to put to work for you. It is like trying to be your own attorney. Not usually a good idea.
Instead of spending a day driving around looking for the new home developments, wasting your gas bouncing from development to development. Let us take you around. It is a nice no pressure way of getting to know us better. You really have nothing to lose.
If you are ready to go look at homes, Contact us directly to set up a time to go look.
Even if you decide not to bring us to the new home developments, make sure you bring another Realtor. Maybe it's because we have seen so many things that can go wrong during the process that we feel it is so important, and it won't cost you anything.
Hope to hear from you soon!
Mick & Julie Perez
Realtors
Century 21 Yarrow & Associates
44143 20th Street West
Lancaster, CA 93534
(661) 492-6091
- Short Sales - FAQ
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What is a Short Sale?
The sale of a house in which the seller owes more than what the total payoff to the lender of record is.
Why would a lender accept a Short Sale?
Lender's are in an economic crunch. Either they can accept a short sale and still write off the loss on their taxes or they can foreclose. While foreclosing, the lender will incur costs for processing the foreclosure, taking chances of vandalism and liability costs, as well as maintaining the property until the property is sold.
What options does a homeowner have when the homeowner needs to sell?
Sell the house and pay the difference to the lender.
Walk away and give the house back to the lender (Deed in Lieu).
Make a deal with the lender to accept less than the loan amount (Short Pay).
Walk away and the property forecloses.
What hardships would qualify a seller for a Short Sale?
Death, family illness or injury
Job relocation
Job loss or significant loss of income
Divorce or split of domestic partners
Adjustment in mortgage payment or unforeseen increase in living expenses
What documentation will a seller have to provide to the lender?
Letter of Authorization (for the Broker to act on the behalf of the seller)
Reference Mortgage loan number, contact phone and fax numbers. (including 2nd loans, HOA, etc.)
Hardship Letter
Two most recent years tax returns and W-2's
Last three paycheck stubs
Three most recent bank statements and all income source
Monthly expense breakdown
What other possible documentation will the seller have to provide to establish hardship?
Declaration of divorce/separation
Bankruptcy discharge
Proof of unemployment insurance
Proof of job termination (pink slip)
Medical records
Death Certificate
What are the advantages for the seller to complete a short sale?
No out of pocket cost to close escrow.
Fewer stigmas than a foreclosure.
A short sale raises fewer legal issues.
Less damage to credit than a foreclosure or bankruptcy. However, since most banks will not approve a short sale unless the seller is in default and can show a true hardship, the late or no payments will show on the credit report for 7 - 10 years.
What are the disadvantages or consequences to the seller for completing a short sale?
Seller receives no monies at the close of escrow.
A short sale can make a home harder to sell.
There is damage to the credit score.
Tax Implications-this has to do with "Debt Forgiveness." The lender of record will be able to write any loss off in their taxes. The IRS realizes this is money they are not receiving. That is when the IRS goes after the seller. The seller may be liable to pay taxes on the shortage amount. The IRS sees this money as income earned. That is why the seller needs to seek the advise of a financial/tax specialist or an attorney.
- New FHA Changes Coming Spring 2010
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Those Who Wait Will Pay Thousands More This Spring
Waiting a few extra days or weeks to purchase a home this spring could cost buyers thousands of extra dollars as the office of Housing and Urban Development (HUD) implements several changes for loans guaranteed by the Federal Housing Authority (FHA).
Coming just weeks before the April 30 deadline for the Home Buyer Tax Credit and just days after the March 31 expiration of the Federal Reserve Board's mortgage backed securities purchase program (which has kept home loan rates artificially low for over a year), these FHA changes make it even more important to act now to save big.
Here are a few reasons why:
On April 5th, the cost of required up-front mortgage insurance for loans guaranteed by the FHA will increase from 1.75% to 2.25%. For a borrower purchasing a $200,000 home with a $7,000 down payment, the up-front mortgage insurance will increase by $965. Up-front mortgage insurance is typically financed in the final loan amount so the impact to a monthly payment will be minimal but overall, the increase is still borne by the borrower both upfront and monthly.
Later this spring, the amount of money that a seller can return to the buyer from their sale proceeds will be reduced from 6% to 3%. The reduction in these "seller concessions" can increase the amount of cash a buyer will be required to pay at closing by $6,000 for a home purchase of $200,000.
There is only one way to avoid being affected by all of these costly changes that lie ahead – submit all FHA mortgage applications by the last week of March.
If we can answer any questions you may have about how these changes could impact you, call us. We appreciate your business.
- Buyers to pick escrow company
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Bill mandates escrow company choice
Here is an article all California buyers should know about.
By Corinne Reilly
Gov. Schwarzenegger signed a bill into law over the weekend mandating that buyers of foreclosed homes be allowed to choose which title and escrow companies they hire.
Authored by Assemblywoman Cathleen Galgiani, D-Livingston, the Buyer's Choice Act will take effect next week. Legislators approved it last month.
Galgiani introduced the bill in February in response to complaints that small title and escrow firms increasingly have been squeezed out of the market by national competitors. She worked with the Escrow Institute of California, a trade association, to draft a bill that she says will help homebuyers and local businesses.
As banks have become overloaded with foreclosures, many have chosen to close deals with major title and escrow companies because it's easier for them to work with one large firm instead of several small ones.
That's created what the Escrow Institute has called an "anti-competitive monopoly." It's also led to higher fees for buyers, according to real estate agents.
In a statement issued Monday, Galgiani said homebuyers often are better served by local firms, especially in today's market.
"Local escrow businesses can expedite the transfer of foreclosed properties to homeowners at lower cost," she said. "It also promotes competition for services and protects local jobs and our local economy."
The new law will require that buyers be told that they can choose their title and escrow companies. It also will prohibit banks from vetoing firms chosen by buyers unless they can show good cause.
Unless it's renewed, the legislation will expire in 2015.
Buyers already have a choice under federal law, but to date there's been little enforcement. The Buyer's Choice Act includes a provision that allows for fines of up to three times the cost of the escrow and title service if buyers aren't told they can pick their firms.
- What's New in Lancaster, CA.
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The revitalization of Lancaster Boulevard is a way of returning downtown Lancaster to its roots: a vibrant business district of entrepreneurs willing to invest their energy, money and labor to make things happen.
City officials have a vision of a pedestrian-friendly destination spot filled with shops, restaurants and entertainment venues. To that end, city officials have approved a preliminary concept design calling for replacing two Lancaster Boulevard traffic lanes with a tree-lined pedestrian mall called a "ramblas" - named for a similar street in Barcelona, Spain - aimed at reducing traffic speeds and increasing pedestrian safety and visibility.
The Redevelopment Agency budgeted $9.5 million for the project, of which $500,000 has been allocated for construction, design and engineering fees.
The city can't do everything on its own, however: It needs to attract entrepreneurs willing to take a risk, and they are responding.
Just opened on the boulevard is the Brooklyn Deli, offering New York-style deli fare with an option for patio dining. Joining the Brooklyn Deli, the popular Lemon Leaf Cafe and other eateries will be another new restaurant called Bex - short for "be extraordinary" - in a building with a promenade and bandstand.
Another new restaurant, Giannini's, is relocating from Elizabeth Lake, where it was known as the Greenside Grill.
Scott Ehrlich, a partner in North Downtown Renual Ltd., is involved in more than $100 million worth of development projects in the downtown area.
He is a partner with InSite Development, the Encino-based company that built the Arbor Lofts on the boulevard and several apartment buildings for seniors: the three-story, 116-unit Arbor Gardens on Kettering Street and Elm Avenue; Arbor Grove apartments on 10th Street West; and Arbor Court, the former Essex House hotel, also on 10th Street West near the Antelope Valley Senior Center.
InSite also built a complex that includes 100 apartment units and offices for the Mental Health Association on Sierra Highway.
"I'm so excited about the downtown; it's ours to blow," Ehrlich told Valley Press reporter Julie Drake. "That is a funny statement, but it's there; people want it. The business is there if we get the right crowd, the right people; it's already there, it's going to happen."
InSite Development's five-story Arbor Lofts building is another sign the boulevard's transformation is already under way: It has 21 two-story artists lofts, each about 1,600 square feet in size. The first five artists have just moved in.
The lofts are adjacent to the old Wells Fargo bank building at Lancaster Boulevard and Elm Avenue that eventually will be remodeled to provide a new home for the Lancaster Museum/Art Gallery.
Antelope Valley Board of Trade Executive Director Josh Mann, who is also president of the BLVD Association, the new name for the Lancaster Old Town Site business association, is enthusiastic about the plan.
"We're truly going to see a dramatic change in a very short period that I think it going to set an entirely new course for downtown Lancaster," Mann said.
This story appeared in the Antelope Valley Press
Sunday, September 20, 2009.
A steady stream of customers kept the staff busy at The Brooklyn Deli - the newest restaurant in downtown Lancaster, which opened recently at the corner of Lancaster Boulevard and Fig Avenue. The bustling lunchtime crowd likely wanted to sample dishes such as pastrami sandwiches and matzo ball soup at the New York-style deli. The sparkling, bright restaurant, with its blue, white and grey interior, occupies a corner of the same building that for decades housed a Bank of America only. The bank is still in there but customers enter along Fig Avenue, south of the deli entrance. The Brooklyn Deli is one component of many that is part of the city's efforts to revitalize the downtown area, which surrounds Lancaster Boulevard between 10th Street West and Sierra Highway. |
| Last Updated on Tuesday, 22 September 2009 01:17 |
- 2 Story For Sale in Rancho Vista
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On the Golf Course!
• 1,988 sq. ft., 3 bath, 3 bdrm 2 story - $269,000
Rancho Vista, Palmdale - Rancho Vista Golf Course home! On the 13th fairway. This clean home has a large open kitchen adjacent to the family room, upgraded carpet, large upstairs loft, custom paint throughout, downstairs tile and is priced to sell!
Property information
- Los Angeles County Water Shortage
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As I was watching the news this morning, I had some thoughts that created some concerns. The residents of Los Angeles County will only be able to turn on their sprinklers before 9:00 A.M. and after 4:00 P.M. on Mondays and Thursdays beginning June 1, 2009. We are currently experiencing a spring heat wave, what will our summer be like?
Imagine our local golf courses, you will no longer be hitting your ball on "the green" anymore. We have had our share of wild fires in L.A. What will be the penalty for using the water? What about our local crops and our plants if we go through a heat wave? How long will this new ordinance stay in effect?
We have witnessed several brown lawns this year. It is depressing. The cities of Palmdale and Lancaster have bought several of these forclosed homes and are creating a desertscape motif to help solve the problem. It has made a big difference in the appearance of these homes and our community.
As a whole, if we all cut down our water usage by 15%, I believe we could make a huge difference. Artificial turf is becoming popular these days. It's durable, very manicured and clean. I have seen it, and looks better than most lawns. We all need to take action to save our county from what I believe could be a devastating disaster. Please send us your ideas and suggestions. We would love to hear your thoughts!
Let's all work together to conserve our water. Please view some of these water conservation tip sites:
Be Water Wise
MonoLake.org
- Antelope Valley Forclosure Report December 2008
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Notice of Defaults July, 08 Aug,08 Sept, 08 Oct, 08 Nov, 08 Dec, 08
Lancaster 447 451 155 182 255 432
Quartz Hill 98 145 42 74 70 162
Palmdale 467 493 132 216 273 503
Littlerock 27 31 11 19 19 34
Pearblossom 3 1 0 0 1 1
Lake Los Angeles 20 28 17 18 17 24
The Lakes 6 4 1 0 0 3
Trustee Sales July, 08 Aug, 08 Sept, 08 Oct, 08 Nov, 08 Dec, 08
Lancaster 408 323 293 168 169 193
Quartz Hill 41 96 91 45 58 49
Palmdale 367 354 267 197 167 135
Littlerock 22 23 21 9 7 9
Pearblossom 3 0 0 1 2 0
Lake Los Angeles 18 15 17 10 8 8 Lakes 4 2 2 0 0 1
- Single Story For Sale in East Lancaster
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• 1,183 sq. ft., 2 bath, 3 bdrm single story - 
MLS® $94,400 - Awesome Price!
East Lancaster, Lancaster - Charming Bank REO!! Clean inside and out. Formal dining area and livingroom with fireplace. Newer tile flooring through much of the house. Backyard has large covered patio full length of house. RV access possible. Being sold AS-IS!
Property information
- Single Story For Sale in Littlerock
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• 1,010 sq. ft., 1 bath, 3 bdrm single story - MLS® $138,000
Littlerock, Los Angeles County - Lovely Home on horse property in Littlerock with mature fruit & shade trees. Covered patio and large storage barn in the large back yard. This home is perfect for the family who doesn't want to be in the middle of a busy city yet minutes from schools, the new water park, Walmart, shopping and restaurants. Priced to sell!! Call today for a showing.
Property information
- Antelope Valley REO and NOD Statistics
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The following Nod's & Reo's information was accumulated from Antelope Valley APN book #3000. This does not include Kern County.
Nod's Reo's
January 871 397
February 790 388
March 899 407
April 890 377
May 822 395
This information was brought to you by Frank Donato at Fidelity Title!
- Price Reduced on 9144 S-8 in Littlerock
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Littlerock, Los Angeles County - Announcing a price reduction on 9144 S-8, a 1,739 sq. ft., 1 bath, 3 bdrm 2 story. Now MLS® $169,000 - .
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- Single Story For Sale in Lake Los Angeles
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• 1,410 sq. ft., 2 bath, 3 bdrm single story - MLS® $129,900
Lake Los Angeles, Los Angeles County - No Short Sale Here! Great priced horse property in Lake LA. Seller may credit buyer some closing costs and $3,000 toward flooring with full price offer. This home is a bargain for the price. Flat and usable acres of horse property and is priced to sell fast! This home features an open and airy floor plan, vaulted ceilings, brick fireplace, formal dining and attached 2-car garage with direct access into house, covered patio. Bring your animals, horses and all the toys because there is plenty of room for RV parking, trailers and motorcycles. Home needs some minor TLC but is priced accordingly. Walking distance and view of the Indian Museum. So come to look, come to buy. Motivated seller, submit all offers.
Property information
- Price Reduced on 37112 Vista Bonita in East Palmdale
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East Palmdale, Palmdale - Announcing a price reduction on 37112 Vista Bonita, a 1,274 sq. ft., 2 bath, 4 bdrm single story. Now $210,000 - .
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- New Listing on 1040 Ironwood Ave. in West Palmdale
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West Palmdale, Palmdale - Announcing a new listing on 1040 Ironwood Ave., a 1,979 sq. ft., 3 bath, 4 bdrm 2 story. Now MLS® $345,000 - .
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