The Newhall Ranch Project

Well, big news is the Newhall Ranch project has received approval for it's first 'village', Landmark Village, to begin. I hear it's going to be a year to 18 months but that is some news for us Santa Claritans!

It's been in the works for 20 years and it will be a 20 - 30 year project with four different villages. Shopping, jobs, parks, schools...the whole enchilada!

I had the pleasure of walking the area, with a Newhall Ranch representative and large group of fellow interested parties, several years ago. It is a beautiful area and I'm sure Valencia and our surrounding communities looked very similar....back in the day.

I do love Santa Clarita. I think it's a beautifully master planned community. I also think that this Newhall Ranch will be just as lovely.

If you want to follow the progress and keep up on the project, they have a website with quite a bit of information on it:

Newhall Ranch

Asset Rich but Income Poor?

So, you have a boat-load of money in the bank, right? However, your income doesn't quite cut the mustard for the refi you want to do? There are ways!!!

Many retirees are apparently facing this problem. They want to refi to today's incredible rates, have a ton of assets, but their social security and/or retirement income doesn't make the right ratios for most lenders.

Many savvy loan brokers with several different programs can help you with this dilemma. If you're earning interest on the asset, if you're going to get an increase in Social Security, suggest these to your lender. You can also take some of your asset money and place it in an annuity to 'draw' income from it to pump up your monthly intake.

Make sure you are talking to the right people if you get denied. 

Don't give up on the first try! 

Our MLS 30 Day Stats for May 2012

OMG ~ Yep, Oh My Gosh ~ I almost cringed when I did this today......

Active listings in all of our Santa Clarita Valley communities, including homes, townhouses and condos is 581, 581, 581, yes, 581....Yikes!

Breaking it down for you:

Active ~ 581 total
Short Sales ~ 200
REO ~ 62

Pending/Back-Up ~ 1233 total
Short Sales ~ 794
REO ~ 182

Closed Escrow in the Last 30 Days?
339, and that's up quite a bit from last month. Of those that closed:
Short-Sales ~ 102
REO ~ 100

That's your 30 day MLS Stats

We've picked up a few Standard sellers, good news. And, we've got a very active buyers market obviously.

For any questions about Real Estate in the Santa Clarita Valley and our surrounding communities, please contact me at Lauren@KeepYourWitz.Com

Wells Fargo SS Update

Just a quickie blurb. As a Certified Distressed Property Expert Realtor that services the Santa Clarita Valley and surrounding communities, I have access to the most current and updated info.

Wells Fargo is now following in Bank of America's footsteps and allowing a Short-Sale to be initiated and appraisal ordered, prior to receiving an offer on the property.

This will help expedite things!

For more information: lauren@keepyourwitz.com

Benefits of Selling Now Instead of Later

We all know, here in Santa Clarita Valley, that we missed the big boat of selling a few years ago. But, as mothers around the world tell us, in many different languages:

Sie Können Über Verschütteter Milch nicht Weinen (You Can't Cry Over Spilled Milk) 

or Shoulda, Woulda, Coulda.

Today is a new day, today with our inventory at amazingly low levels, is the perfect day to consider selling your home. If you were thinking maybe in the next year or so, I'll sell my Valencia house. Before the fall holidays, I want to sell my Newhall condo. You really don't want to celebrate the ball dropping for 2013 in your Saugus townhouse....now is a great time for a Standard Sale.

Again, you can't look back. And, we won't have those kinds of values for an extremely long time. Don't wait for it. But, if you were thinking about selling your Canyon Country charmer, or your sprawling Sand Canyon beauty....consider this:

Sellers are getting multiple offers....right now, because the inventory is so low. At 613 time of this posting. As the inventory grows, that will happen less and less. Multiple offers means more money to the seller. No if's, and's, or butts about it.

Do a little math. If you can get 5% over list price now, why wait another year to sell when we're hoping for 4% appreciation in that time period? Now, don't kid yourself, if you have to find a replacement property, it will be challenging to say the least. But, if you want to sell and get out of dodge.....consider sooner than later.....there's no reason to wait.

Bank Of America ~ PR to Possibly 200,000 Homeowners!

It's really coming. Principal Reduction to homeowners. Bank of America was the first one I can recall talking about it in the summer of 2010....and, finally it appears to be coming to fruition.

There will, of course, be certain parameters, but according to the article I read this morning, they are going to start mailing 200,000 letters to homeowners regarding PR. It will be spread out by several thousand at a time. And, until all of them are mailed, B of A will suspend any foreclosure proceedings against these customers.

They will be certified mail...., possibly a big red stamp saying 'Important',

 and maybe a message about saving up to 35% on your mortgage.

Yep, gonna look like junk mail.....but Santa Claritians  ~ Read Your Mail!

Wells Fargo 34% of Market Share in Mortgage Biz

I did just get back from a little vacation and have caught up on my TO-DO list....well, I still had e-mail and internet while I was gone...so I kept pretty on top of things!

Hadn't read a lot of news, just a few articles. This one today in the LA Times really caught my eye and prompted me to say ..... aloud, albeit to myself...."Hmmmm, very interesting...."

Bank of America is struggling, they used to be the ginormous of mortgage bankers. Countrywide acquisition surely has been a challenging component. The ROBO signing settlement has most certainly caused some distress as well. And, let's face it....since they were the big dog for so long....they have a lot of making up to do.

Wells Fargo, on the other hand, is kicking some serious butt!!! 

They originated $130.4 billion new mortgages in the first quarter of this year! 51.8% increase over same time last year. And, that is 34 % of all new home loans.

Chase came in 2nd

U.S.Bancorp was 3rd

B of A down at 4th.

The supposition is that WF cut fees to get more loans. Well, aren't they the wise ones? Let's face it, get some more loans on the books ASAP, good ones, ones that won't default, and earn some interest on those loans right away! Hell, if it takes a little loss up front to earn big money down the line, sounds like they made some good choices.

It is worrisome to the Federal Regulators.....I suppose it should be.....but, WF has made a wise business decision and will reap the rewards as they should.

Make a wise business decision, a little gutsy, and get paid. The good old American way,....right?