Santa Clarita Real Estate

California bill requires lenders to maintain foreclosed homes.

A bill that passed the state Senate here on Monday April 28, 2008 would require lenders to maintain foreclosed properties or face fines of $1,000 a day.

California has one of the highest foreclosure rates in the nation. Many communities, particularly in the Central Valley, are riddled with homes that have been abandoned by buyers who could not afford their mortgage payments when they reset to higher rates.
The vacant properties become eyesores, overgrown with weeds, brown grass, green pools and some properties have become home to squatters.

Under the bill by Senate President Pro Tem Don Perata, local governments could impose the fines on lenders after giving them 14 days’ notice to fix the problems.

“Senator Perata’s bill not only tries to help those in danger of losing their homes, it tries to make sure property values don’t go down in neighborhoods where foreclosures already are problems,” Perata spokeswoman Lynda Gledhill said.

The bill, supported by consumer groups and local governments, and was sent to the Assembly on a 28-10 vote. Because it is urgency legislation, it would take effect as soon as it is signed into law.

The hardest-hit counties are Merced, San Joaquin, Stanislaus, Sacramento and Yuba, all in the Central Valley. The report showed one of every 737 Merced County residents and one of every 1,003 Sacramento County residents lost their home to foreclosure in March.
Source: Associated Press

Calif. median home price - February 08: $409,240(Source: C.A.R.)
Calif. highest median home price by C.A.R. region February 08: Santa Barbara So. Coast $1,295,000 (Source: C.A.R.)
Calif. lowest median home price by C.A.R. region February 08: High Desert $220,380(Source: C.A.R.)
Calif. First-time Buyer Affordability Index - Third Quarter 07: 33 percent
(Source: C.A.R.)
Mortgage rates - week ending 04/03/08
30-yr. fixed: 5.88% Fees/points: 0.5%
15-yr. fixed: 5.42% Fees/points: 0.5%
1-yr. adjustable: 5.19 % Fees/points: 0.5% (Source: Freddie Mac)

City Council Meeting Tuesday, April 22, 2008 6:00 PM
City Council Chambers 23920 Valencia Blvd. 1 st Floor
Santa Clarita, CA 91355

On the calendar for the City Council of Santa Clarita; Request for authorization to submit an application for annexation for Hasley Hills/Valencia Commerce Center.
Annexation of 1,531 single-family residential units across 571 acres within the Hasley Hills, Live Oak and North Bluffs subdivisions and the Valencia Commerce Center (of Castaic) 
The effort’s began about 3 years ago when a citizen’s support group known as the Castaic Annexation Support Team (CAST), in cooperation with business owners in the Valencia Commerce Center (VCC) began collecting signatures for annexation. The members of CAST submitted signatures from 72% of residents and/or business owners to the City’s Community Development Department.

At the Planning Commission meeting on March 4, 2008, members of CAST voiced their support of the proposed annexation, GPA and PRZ, while members of the Castaic Area Town Council expressed their desire for the City to wait to pursue any annexation west of I-5 until the incorporation studies are completed. After receiving public testimony, the Planning Commission, by a unanimous vote, recommended that the City Council approve the Prezone and General Plan Amendment for the Hasley Hills/Valencia Commerce Center Annexation.

‘The focus is on truckers and lake visitors, not on local residents’

This was a recent blog comment from the Post “Lollies, Castaic – closing” I’ve taken this particular post comment into consideration and want to expand on it.
Looks like it will be a multi part post:

1. Castaic where’s the focus?
2. Castaic Merchants and Business’s
3. Castaic High School. Is someone dreaming?

Is the focus on truckers? [Read more →]

Santa Clarita Household Hazardous Waste Collection Event 
Date: 4/12/2008   
 
Location: The College of the Canyons, 26455 Rockwell Canyon Road, Santa Clarita, 91355 

Santa Clarita residents can dispose of their old electronic waste such as VCRs, stereos, fax machines, computer keyboards and cellular telephones along with their household hazardous waste such as paint, paint remover, used motor oil, pesticides, aerosol cleaning products, lighter fluid, and expired prescription drugs at the free Household Hazardous Waste and E-Waste Roundup at College of the Canyons.

County Household Hazardous Waste Collection Events will NOT accept:
• Hazardous waste and electronic waste from businesses.

• Explosives, ammunition, and radioactive materials.

• Trash and tires.

• White goods such as refrigerators, stoves, washing machines, etc.
 

April 23 thru 27 Melody Ranch and the City of Santa Clarita will once again host the Cowboy Poetry and Music Festival.

On tap for family fun are events such as the  Chuckwagon Dinner Show,  An Evening of Music with The Sons of the San Joaquin, "For a Few Dollars Less"  a Family Murder Mystery Dinner Train (out at Fillmore and Western Train Station), Behind the Scenes Tour at Melody Ranch™,  Street Shows, Art, Gear & Dry Goods Show & The Gold Rush Food Court, and of course the poetic Cowboys who started it all,  nationally known Western musicicans and poets.

For more information visit the offical Cowboy Festival website. (Link opens in a new window)

When L.A. City Council votes, will Las Lomas Land LLC., listen?

On going range wars have come to a halt with the latest Los Angeles City council vote on March 19 where the council said a sensible NO to any additional work on the Las Lomas Land project. Amid the potential threat of lawsuits, the council did a 180 - Back in February the LA City council was unanimous in support for this project, the March 19 vote was 10-5 against.

The background on this project is a lesson in land development. Ten years back, Palmer had his eye on the dirt that encompasses the area between The City of Santa Clarita, The Los Angeles City and The Los Angeles County.

[Read more →]

The City Council has come to a decision … maybe not! In a split vote the City has decided to halt review of the mini city that was to be Las Lomas, planned for the southern edge of Santa Clarita Valley.

The vote at 10 - 5 instructed the Planning Department to stop processing the application.

[Read more →]

Calif. median home price - January 08: $430,370(Source: C.A.R.)
Calif. highest median home price by C.A.R. region January 08: Santa Barbara So. Coast $1,135,000 (Source: C.A.R.)
Calif. lowest median home price by C.A.R. region January 08: High Desert $234,310 (Source: C.A.R.)
Calif. First-time Buyer Affordability Index - Third Quarter 07: 33 percent
(Source: C.A.R.)
Mortgage rates - week ending 03/13/08
30-yr. fixed: 6.13% Fees/points: 0.5%
15-yr. fixed: 5.60% Fees/points: 0.5%
1-yr. adjustable: 5.14 % Fees/points: 0.7% (Source: Freddie Mac)

Foreclosure Filings Rise for 26th Straight Month.
A 60 percent rise in homes facing foreclosure than from this time last year.
A California research firm reported earlier this month.

[Read more →]