EwingSIR | Calabasas Homes for sale | Sherman Oaks Homes | Agoura Homes | Hidden Hills Ca Homes

FHA Buyers and Sellers

Great News for Conejo Valley FHA Buyers and Sellers!

By: Rob Jordan

It’s a common scenario for a real estate agent. I have a well-qualified FHA buyer who has been patiently making offers on condos and town homes, but losing every sale for the last six months.  I now locate the property of their dreams, miraculously get the offer accepted, and find the condo project is not FHA approved.  AAAARRRRGGGGHHHH!

But there may be some good news!

A bit of background: FHA is a great way for entry level buyers to purchase a home. FHA purchases only require a 3.5-5% down payment, AND the seller may pay some of the Buyer’s closing costs. By the time you add in the first time buyer’s tax credit, it can take only a few thousand dollars to buy a home!

But the FHA has strict guidelines about property condition, so there is a list of FHA approved condos. If a project is on the list, it’s “preapproved for FHA purchases”.

If a project is not on the approved list, it was possible to obtain an FHA “spot” approval for one particular unit. But this was time consuming and often unsuccessful.

But in an odd turn of events, instead of fighting a losing battle to get just one unit approved,  I may be able to get THE ENTIRE COMPLEX FHA APPROVED at once.

My loan source, Prospect Mortgage, is an FHA Direct Endorsement lender. This means that they have the authority to approve entire condominium projects… not just one unit. No waiting for the government to get involved. My lender can do it all!

To get a project approved the following are the minimum standards:

·  Projects must be at least 12 months old
·  There can be no pending litigation or special assessments
·  At least 50% of the units must be owner-occupied
·  No more than 15% of the total units can be delinquent in their HOA dues
·  Reserves for capital expenditures must equal 10% of annual budget
·  CC&Rs cannot contain a “Right of First Refusal”
·  No more than 50% of the units may be FHA insured

Why the change in approval process? The government desperately wants the real estate market to recover. So they’re doing everything they can think of to make it easier for buyers and sellers to do business. FHA financing is one way to make it easier for Buyers to buy. It does take a bit longer overall for the process, but in the end, it’s worth it for Sellers and Buyers!

So, are you an FHA Buyer or Seller? I may have good news for you! Contact me today!

Rob Jordan is a successful real estate agent with Sotheby’s International Realty/Ewing and Associates in Agoura. He specializes in the Agoura, Oak Park, Westlake Village area. He can be reached at 818.237.4425, or by email: rob@robjordanhomes.com

(This blog based on an article by Brownie Stanisch, Prospect Mortgage, the best darn loan officer in the business! Call her at 818.742.3137. Article edited and reprinted with permission.)

EwingSIR does not guarantee information contained in this blog, readers are encouraged not to rely solely on this information and to do their own independent research of facts contained herein. Blog information was obtained from independent sources that we do not endorse, and we do not investigate this information for accuracy.

Tags: Agoura Homes for sale, ewing and sotheby's, FHA Buyer and Sellers, Rob Jordan

First Time and Repeat Buyer Tax Credits to Expire

These credits will soon disappear…

By:  Rob Jordan

First time buyers are entitled to received a tax credit of up to $8,000 if they purchase a home prior to June 30, 2010. But the window of opportunity is closing. The home must be in escrow by April 30, 2010.

This is a true cash credit you can deduct right off your taxes. And if you don’t owe $8,000 in taxes, you even get the money back from the IRS!

The rules are simple:

1. Be a first time buyer.
2. Buy a new home.
3. Meet the income requirements (up to $145,000 individual; $245,000 couple).
4. Get the credit!

For first time, low to mid range buyers, this is great opportunity. Say you’re buying a home for $400,000, using FHA financing (3.5% down). Your down payment is $14,000. But you get the $8,000 back on your taxes. So your net out of pocket is only $6,000! Wow! In the Agoura, Oak Park and Westlake Village areas, there are lots of wonderful homes in all price ranges that are terrific candidates for first time buyers.

There is a similar credit for move-up buyers, to a maximum of $6,500. So even if you sell they buy, you may be entitled to a tax credit. Consult your tax advisor to see how this program affects your individual situation.

Information provided by Rob Jordan, Estate Agent at Ewing and Associates/Sotheby’s International Realty. Specializing in Agoura/Oak Park/Westake Villae sales and leases. Contact Rob at 818.237.4425,or email to rob@robjordanhomes.com

EwingSIR does not guarantee information contained in this blog, readers are encouraged not to rely solely on this information and to do their own independent research of facts contained herein. Blog information was obtained from independent sources that we do not endorse, and we do not investigate this information for accuracy.

Tags: ewing and sotheby's, First Time and Repeat Buyer Tax Credits, Rob Jordan

2010 Move Over Law

In California, the “Move-over” law become operative on January 1, 2010.

By: Irma Haldane

The Law holds that motorists in California could be fined for failing to slow down or move over when passing parked emergency vehicles.

I recently found this story regarding the Move-over Law:

I wanted to let my Medlock Bridge neighbors know about the move over law. My son got a ticket on Pleasant Hill coming back from Wal-Mart. A Duluth police car (turned out it was 2 police cars) was on the side of the road giving a ticket to someone else. My son slowed down to pass but did not move into the other lane. The second police car immediately pulled him over and gave him a ticket. My son and I had never heard of the law. It is a fairly new law that states if any emergency vehicle is on the side of the road, if you are able, you are to move into the next lane or slow down to 20 miles below the posted Speed limit.

As the cost of the ticket was $754, with 3 points on your license and a mandatory court appearance, it seems like an important law to share.  Beware people!

Visit: http://www.moveoveramerica.com/

EwingSIR does not guarantee information contained in this blog, readers are encouraged not to rely solely on this information and to do their own independent research of facts contained herein. Blog information was obtained from independent sources that we do not endorse, and we do not investigate this information for accuracy.

Tags: ewing and sotheby's, ewingsir, Irma Haldane, The Move Over Law in California

Census Day is April 1, 2010. But Don’t Be Fooled!

The federal government undertakes a formal census every 10 years, and 2010 is the year.

By: Rob Jordan

Over the next weeks and months, the Census Bureau will be collecting information by mail, phone and in person. The purpose of the census is simple: figure out how many people live in the United States, where they live, and a bit about them. The data is used for a variety of purposes, including how to dole out the millions and billions of dollars the government sends to states and localities based on population. But scams abound.

The ONLY information you are required to give is: the number of people living in your house, their gender, and their race, their name, their age, do you own or rent the home you’re living in, your phone number (in case they have questions).

You should NOT give any other personal information, such as Social Security numbers or bank account information. A legitimate census worker will NEVER ask to come inside your house. For more information, visit the government website: Census Gov. Information provided by Rob Jordan, energetic real estate agent with Ewing and Associations/Sotheby’s International Realty. www.robjordanhomes.com

EwingSIR does not guarantee information contained in this blog, readers are encouraged not to rely solely on this information and to do their own independent research of facts contained herein. Blog information was obtained from independent sources that we do not endorse, and we do not investigate this information for accuracy.

Tags: Census Bureau, ewing and sotheby's, ewingsir, Real Estate Rob Jordan, Rob Jordan

Calabasas High: Brunch, Boutique and Silent Auction

By: Patte Gilbert

Thursday, February 4th at 10AM, Calabasas High will host a Brunch, Boutique and Auction at the Calabasas Golf and Country Club.  All of the money raised will go toward supporting Calabasas High. Some of the needed items are:

• Equipment and supplies
• Enhanced campus security and safety
• Webmaster, professional website and technology maintenance
• Struggling Student Program
• Facility renovations, including the new shade shelter, message boards and clock tower
• Counseling Department and College & Career Center programs and materials
• Tutoring Center, Peer Support Team, student clubs and scholarships
• Parent communications, monthly online newsletters and parent education workshops
• Continuing education for teachers and staff
• “Thank You” luncheons for teachers and staff

Come support your local high school by attending this years event

EwingSIR does not guarantee information contained in this blog, readers are encouraged not to rely solely on this information and to do their own independent research of facts contained herein. Blog information was obtained from independent sources that we do not endorse, and we do not investigate this information for accuracy.

Tags: Calabasas High Brunch Boutique and Silent Auction, ewing and sotheby's, Patte Gilbert Real Estate Agent

New “Green” Shopping Center at Lost Hills and Agoura Rd. in Calabasas

Lost Hills and Agoura Rd to see some major changes

By: Jeff Biebuyck

An amazing “Green” LEED Silver commercial development project with some incredible stores and restaurants!

With 2 outdoor plazas loaded with benches, tables, landscaping, fountains and 2 outdoor fireplaces, this construction projects could be great for Calabasas residents.

The project management team has succeeded in securing the following leases:
- Pacific Coast Greens (a specialty natural/organic market based out of Malibu)
- Senor Fred (a full service sit down contemporary Mexican/tapas restaurant with full bar)
- Wolf Creek Brewery (an American grill menu with micro-brewed specialty beers)
- Jersey Mikes Subs
- An upscale “green” stationary/gift boutique
- BCBC Nail Salon
- A full service “green” dry cleaner
- Take-out pizza
- Gourmet coffee/tea

Further landscaping would be included around the perimeter of the site, throughout the parking lot, and surrounding every building. Landscaping on the site will consist of approximately 200 new trees (including the relocation of six Coast Live Oak Trees on-site), including 30 oak trees, vines and shrubs.

EwingSIR does not guarantee information contained in this blog, readers are encouraged not to rely solely on this information and to do their own independent research of facts contained herein. Blog information was obtained from independent sources that we do not endorse, and we do not investigate this information for accuracy.

Tags: ewing and sotheby's, Jeff Biebuyck, Lost Hills and Agoura Road Construction

Whale and Dolphin Watching around the Channel Islands

Whale & Dolphin

By: Karen Crystal

Island Packer’s trips to the Channel Islands cruise with an open eye for wildlife, especially everyone’s favorite, whales and dolphins. Go out into the waters of the Santa Barbara Channel and the Channel Islands National Marine Sanctuary just to look for whales. Trips that set out to view the migrating gray whales depart from both of our locations; 1691 Spinnaker Dr. in the Ventura Harbor, and 3600 S. Harbor Blvd., in the Channel Islands Harbor, Oxnard.  Whale watching tours are 3 to 3.5 hours long, morning departures are often scheduled for 9:30 and 10:00, and afternoon departures are at 1:30 sometimes we have trips at 9:00am & 2:00p.m. please check our departure schedule for the date of your choice. Also, additional departures, and group charters may be added to this schedule if the demand is high. Reservations are recommended for these popular trips.  Whale watching tours do not land on the Channel Islands, however our island trips during this time of year will also be on the look out for whales as the boats travel to and from the park.

EwingSIR does not guarantee information contained in this blog, readers are encouraged not to rely solely on this information and to do their own independent research of facts contained herein. Blog information was obtained from independent sources that we do not endorse, and we do not investigate this information for accuracy.

Tags: Channel Islands, ewing and sotheby's, Karen Crystal Real Estate, Santa Barbara

Snow at Born Learners Preschool in Agoura Hills

By: Sheri Karp

On this Friday morning, when many of us are driving to our respective work places, kindergartners at Born Learners in Agoura are enjoying a snow day.  Parents and children gathered to spend an hour in the snow, something that appeared to make the children ecstatic.  Kudos to the administration at Born Learners for getting the young ones out and giving them their own snow in sunny southern California.  Visit Born Learners Website here.

EwingSIR does not guarantee information contained in this blog, readers are encouraged not to rely solely on this information and to do their own independent research of facts contained herein. Blog information was obtained from independent sources that we do not endorse, and we do not investigate this information for accuracy.

Tags: Born Learners Preschool, ewing and sotheby's, Sheri Karp Real Estate

Road Cycling on Mulholland

Tipp’s Ride of the Week

By: Steve Tipp

Paralleling the time started in real estate about 7 years ago I started road cycling.  That’s right, riding a bicycle on the road.  I have always enjoyed bicycles since childhood and as a young adult enjoyed riding effortless miles along the bike paths along the beaches here in LA.  When I started “road cycling” at first I rode around the flat streets of the West Valley but eventually I was drawn to the Santa Monica mountains and the Mulholland Corridor.  When I talk to people about riding some are worried about cars, my response is the cars are a lot scarier to me North of Calabasas Road/Agoura Road than South.  I try and be careful of the cars ahead of me and visible to those behind me; but I focus on looking forward and I don’t worry about the rest.  Mulholland Highway is my home base or gateway if you will.  The scenery is beautiful and the riding is moderate to very challenging.

My typical ride starts at my home near Oxnard and Woodlake and I warm up riding south to Ventura Blvd, then I cross the 101 on a pedestrian bridge behind Woodlake bowl and cut through the Calabash area to Mulholland being careful of the kids and parents going to Calabasas High and Viewpoint and the other schools in the morning.  The first big climb is right be Mountain Park a famous short but steep climb they call “Cardio or Cardiac” hill.  My short ride I will take Mulholland out towards Las Virgenes and turn around at my 10 mile marker, when I have more time I will turn onto Stunt Road and climb the 4 miles to the top.  Stunt is a pretty famous training hill and the area is rife with professional riders and college cyclists.  The route is always beautiful no matter if it is clear or cloudy; of course it is a little better when it is cool vs. hot but it is always a great ride.

Steve Tipp
Sotheby’s Calabasas
w: 818.657.4455
c: 818.384.7961

www.SteveTipp.com
twitter: @stevetipp
blog: www.woodlandhillsnewz.com

Oh by the way, I love working with terrific new clients.  Please give me a call if there is someone you know who can use my services.  Specializing in great clients, short sales and REO’s!

EwingSIR does not guarantee information contained in this blog, readers are encouraged not to rely solely on this information and to do their own independent research of facts contained herein. Blog information was obtained from independent sources that we do not endorse, and we do not investigate this information for accuracy.

Tags: ewing and sotheby's, Mulholland Highway, Road Biking on Mulholland, Steve Tipp Real Estate

Kyle Gulock’s Golf Course of The Week

Braemar Country Club

By: Kyle Gulock

This week’s course is Braemar Country Club. Situated in the heart of Tarzana, Braemar Country Club is located at 4001 Reseda Blvd, Tarzana, CA 91357. Braemar Country Club offers two courses for their members. The East Course, which graces the front of the clubhouse, plays 6,061 yards from the back tees and is a par 70. The par 71 Guldahl or West course plays a bit shorter at 5,839. Both courses offer unique challenges to golfers of all skill levels. The designer of both courses is famous Southern California architect Ted Robinson Sr, who passed away in May 2008.

An interesting fact about Braemar Country Club is that three time major winner Ralph Guldahl was a teaching professional here from 1959-1987 when he passed away. During his illustrious career, Guldahl won the U.S. open in 1937 & 1938 as well as the Masters 1939.

EwingSIR does not guarantee information contained in this blog, readers are encouraged not to rely solely on this information and to do their own independent research of facts contained herein. Blog information was obtained from independent sources that we do not endorse, and we do not investigate this information for accuracy.

Tags: Braemar Country Club, ewing and sotheby's, Kyle Gulock, Kyle Gulock Real Estate