"Over The Fence" Newsletter

I'll be presenting a second associated newsletter to my clients, VIPs and prospective buyers and sellers. You can see a preview at:

• http://www.homewarranty.com/pdfs/signup/27568-English.pdf

July 4th Celebrations

4th of July Celebrations
Sorted by Region and Date:

Santa Clarita Valley
July 4 – Westfield Valencia Town Center, 24315 Town Center Drive, www.santa-clarita.com
Off top of Parking Structure. 9:15pm
July 4 – 25th Annual Independence Day 5K, www.scrunners.org
$30 registration, begins 7am, Newhall Park on Dalbey.
July 4 - The Greens at Valencia will feature an old fashioned 4th of July BBQ and a live band. Make sure to bring your blanket for later to enjoy prime viewing of the fireworks from the putting course. Please call 661-222-2900 for reservations.
July 4 - City of Santa Clarita Parade, www.scvparade.com, 9:45am
July 4 - Castaic Lake Recreation Area, www.castaiclake.com
Fireworks at Lower Lake Lagoon. Picnic and swim all morning and then enjoy children's rides, games, face painting, jumpers, rock climbers, etc. in the afternoon. Adults will be able to enjoy music, food, craft booths and family games such as: water-balloon toss, potato sack races etc. The Fireworks are the big finale for the day and begin at 9:00 p.m. $25.00 per carload, $5.00 per person walk-in, 5 years old and under are free. No open truck bed passengers will be allowed. Camping and Boat Launches require extra fee
July 4 – Six Flags Magic Mountain, www.sixflags.com; Open 10:30am-10pm. Fireworks after 9pm.

San Fernando Valley
July 4 – CBS Studios, 4024 Radford Avenue, Studio City. www.StudioCityChamber.com
Live music, food and fun with the grand finale fireworks display. Tickets can be purchased at the Studio City Chamber of Commerce, Studio City Farmers Market or Studio City Hand Car Wash. Adults are $15.00 in advance or $20 at the entrance. Children (12 & under) $8.00, Children (5 and under) free. VIP Tickets $100.00. 5 p.m. - 9 p.m.
July 4 – Hansen Dam, 11770 Foothill Blvd., Lake View Terrace, www.hansen4th.com
9:00 p.m. Parking $3. For information, call (818) 768-1128.
July 4 - Porter Ranch, Shepherd of the Hills Church, 19700 Rinaldi St. 9:00 p.m. For information, call (818) 831-9333.
July 4 – El Caballero Country Club, 18300 Tarzana Drive, 9pm
July 4 – City of San Fernando, Recreation Park, 205 Park Avenue, Fireworks at 9pm, For information, call (818) 898-1201.

Antelope Valley
July 4-AV Fairgrounds. The annual July 4th Celebration is free to the public and gates will open at 6:30 p.m. Musical entertainment begins at 7:30 p.m. Grandstand seating will be available on a first-come, first-served basis. The fireworks show will begin at 9 p.m. For information, call (661)723-6077.
July 4 - Jet Hawks Stadium, 6:30 p.m.

Elsewhere
July 2,3,4 - Hollywood Bowl, www.hollywoodbowl.com, 7:30pm
July 4 – Dodger Stadium, 9pm
July 4 - Rose Bowl, www.rosebowlstadium.com, 12noon-9pm
Admission is $12 per person, Children 7 and under are free, active military with ID admitted free (up to 4 per family) available only at the Rose Bowl Box Office. Tickets go on sale via Ticketmaster Tuesday, May 30. Call (213) 480-3232 for tickets, or ticketmaster.com. Tickets may also be purchased at Rose Bowl Box Office. $20 per car payable as you enter the parking lots includes $5 off coupon for food & drinks inside the stadium. Festival gates open at noon, fireworks at 9 p.m.
July 4 – Queen Mary, Long Beach, www.queenmary.com, 10am-10pm

Ten Reasons to Buy Real Estate

Ten Reasons to Buy Real Estate

1. Appreciating Asset
2. Tax Write-off
3. Improvable Asset
4. Renting is a Short-Term Advantage, While Owning is Long-Term, Toward More Benefits and Being Wealthier.
5. Credit Scores of Home Owners are Higher!
6. Leverage Your Home.
7. No Landlord! 15 Day Grace Period for Mortgage Payments.
8. Capital Gain Exclusion.
9. Real Estate as an Inflation Edge.
10. Home Ownership Builds Wealth in Two Ways:
a. Through the "Forced Savings" of Paying Down a Mortgage, and
b. Through Appreciation - the Rise in the Home's Value Over Time.

- RealtyTimes.

Finally! The Difference Between a Condo and a Townhouse!

I know buyers always get condos and townhomes confused. Our MLS doesn't make it any easier in considering that a townhome is a "single family residence," and a condo is a separate category.

Here's the dirt: Condo unit owners own the inside of their units. Townhouse owners own the complete unit, including exterior surfaces and the land on which the unit is built. A single family residence is a category including attached and detached homes that the homeowner owns the land the home sits on.

I thought this was nice and easy to remember.

Housing Market at a Glance: Signs the bottom is now.

Signs of Stabilizing Housing Market

Based on First Quarter 2007, Housing data shows a broad stabilization. Essentially, the existing-home market is stabilizing in a broad cyclical trough and moving in the right direction, with a modest gain from the fourth quarter. During the real estate boom, conditions changed fairly rapidly. Observers now need to be a bit more patient to see a slow, gradual recovery, which should start in the second half of this year. In the West, the existing-home sales pace of 1.28 million units fell 11.9 percent from the first quarter of 2006. After Wyoming, the best performance in the region was in Colorado where sales rose 0.8 percent from a year earlier. The median existing single-family home price in the West was $336,200 in the first quarter, down 1.8 percent from a year ago. The strongest increase in the West was in the Salem OR area, at $221,600, up 15.6 percent from the first quarter of 2006.

Housing Projections NationallyNational Association of Realtors expects the following in home sales this year:

• Existing-home sales are likely to total 6.29 million this year and 6.49 million in 2008, compared with 6.48 million last year.


• New-home sales are projected at 864,000 in 2007 and 936,000 next year, lower than the 1.05 million in 2006.


• Housing starts should total 1.46 million units this year and 1.52 million in 2008, down from 1.80 million last year.

If it weren’t for a favorable economic backdrop, housing would probably have a hard landing. As it is, we see this as a soft landing with home sales rising gradually in the second half of the year and prices recovering a bit later.”The 30-year fixed-rate mortgage should rise slowly to 6.5 percent by the fourth quarter, NAR predicts. Last week, Freddie Mac reported the 30-year rate was 6.16 percent. We’ve already seen this in comparing March 2007 numbers with April 2007 numbers in Fast Facts.The national median existing-home price is forecast to slip 1 percent to $219,800 this year, and then rise 1.4 percent in 2008. The median new-home price is expected to be essentially unchanged at $246,400 in 2007, and then rise 2.2 percent next year.



New Home Sales Surge in April Nationally

Sales of new single-family homes jumped 16.2 percent in April, the largest increase in 14 years, but the median price fell 11.1 percent, marking the largest one-month decline on record, according to the U.S. Commerce Department.
''What you're seeing is the blue-light special,'' says Pat McPherron, an economist with Moody's Economy.com. ''The only way this market is going to move is by price cutting.''The strength in new-home sales was led by a 27.8 percent increase in the South. Sales were also up in the West by 8.5 percent and in the Northeast by 3.8 percent. In the Midwest, sales fell 4 percent. Meanwhile, April's median new-home price of $229,100 made the record books as the largest-ever month-over-month decline, as well as the biggest year-over-year drop (10.9 percent) since 1970.

Northern Los Angeles County Focus
Home sales decreased 27.8 percent in April in California compared with the same period a year ago, while the median price of an existing home increased 6.2 percent, the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) reported today.

As of print time, the Southland Regional Association of Realtors, whose area covers San Fernando and Santa Clarita Valleys, has not released April 2007 data. Data from the prior quarter shows that single-family home prices over the quarter have dropped 3.3% versus last March (down 6.4% for the 1st quarter overall) in the Santa Clarita Valley and that inventory increased 14.6% from last year – representing a 5.5 month supply, which is considered a balanced market, where both the buyer and seller have influence on prices and transactions. In San Fernando Valley, prices down 1% versus last March and inventory up 27.6% to a 5.2 month supply.

In the Antelope Valley, the Greater Antelope Valley Association of Realtors notes active listings rose about 67% from May 2006 to May 2007 with an 8% decrease in list price. The latest sold stats available are for First Quarter 2007, showing Units sold decreased 58% 2007 from 2006 and Sales Price increased 4% 2006 to 2007.

Expectations
The LA Times in its article of May 16 states “Southern California home sales plunged to a 12-year low in April, suggesting that the region's real estate slump is far from over.” I believe this conclusion is contrary to the data shown from my discussions with California Assocaition of Realtors economist Robert A. Kleinhenz. His data shows that we are at a nadir in home prices and to expect a strengthening market by 2008.

It shows how hard it is to get good information through all different sources vying for our attention. It sometimes frustrates me to see premature conclusions that are different from how I see the market. But only time will tell.

I have supporting documentation from Dr. Kleinhenz for his statements and the latest trends from the Valleys from Southland Regional Association of Realtors available – just email me.

Mortgage rates are already showing increases through May (see Fast Facts column), but they are still at historically low levels. The Federal Reserve, which sets short-term interest rates, are meeting at the end of June. Most analysts believe they will not change rates at least through the fourth quarter of 2007. Remember Federal Reserve rates do not directly affect mortgage rates, which are adjusted in step with U.S. Treasury Bonds and other bond rates.

Courtesy: National Association of Realtors, REALTOR® Magazine Online, The New York Times (05/25/07), Los Angeles Times (05/16/07)

Join Me in Celebrating America's Heroes!

Being a former flight medic, I know what helicopters do in saving lives. American Heroes is an air show at Hansen Dam. Join many of my friends as they show off their machines.



Since 1993, this admission-free event has been dedicated to the unique capabilities and dynamic role of helicopters in law enforcement, fire service, public safety, national defense and homeland security. With aircraft from local, regional, state and Federal / DOD agencies, guests are treated to an up-close look at why these aircraft and their crews are on the front line of public safety and community service.



Explore the evolution of helicopters from elegant lines of the U.S. Coast Guard HH-65 ”Dolphin” to the life-saving, Hi-Tech muscle of the S-70 "Firehawk" helicopter from Los Angeles CO. Fire Dept / Air Squad. It's a unique opportunity to learn why these aircraft are the first tool out of the toolbox in times of natural disaster or homeland security threats and why their crews are the Heroes your family can really look up to !



Plus, have your camera ready and introduce your entire crew to many of the Southland's most well known celebrity / media pilots and news reporters plus get an up-close look at the aircraft you see them in every day for traffic and news reports.



More than top gun, high-tech helicopters, the American Heroes event also features the CODE 3 Career Fair which brings together recruiting teams from public safety, government service, volunteer agencies and all military services to profile what they do and how you can be a part of the action.



The FIRST PROMISE- Family Preparedness Fair offers information and resources on emergency preparedness tactics for businesses and community plus family tips for Internet and identity safety from the F.B.I., the U.S. Secret Service and the National Center for Missing & Exploited Children.



Also on scene are many of the finest local Search & Rescue teams from mountain, urban, swiftwater, canine and Combat / SAR organizations. Check out technical rope rescue demos and learn how you can join the action as a reserve volunteer with a local Search & Rescue team.



The traditional collectible event trading cards are back and available free in limited quantities to early bird arrivals. Plus award presentations on stage, entertainment, concessions, exciting flight demos and much more.



June 23rd Saturday

Hansen Dam Recreation & Sports Complex

11480 Foothill Blvd

Lake View Terrace, California 91342

Exit Osborne from the Foothill (210) Freeway

Hours: 9 a.m. to 4 p.m.



If you have any questions, please email me. Otherwise, I'll see you there!

June 2007 Celebrations

June 2007 is…

• Dairy Month

• National Adopt-A-Cat Month

• National Drive Safe Month

• National Fresh Fruit and Vegetable Month

• National Iced Tea Month

• National Rose Month

• National Safety Month

• National Tennis Month

• Turkey Lovers Month

• Zoo and Aquarium Month

• Most Importantly (for this Newsletter): National Homeownership Month! (http://www.realtor.org/Homeownership?&WT.mc_t=LS050207&WT.mc_n=About)



Courtesy: About.com: Family Crafts, Yahoo, RIS Media, National Association of Realtors

Fast Facts of California Housing, April 2007

Fast Facts in California Housing: April 2007
Calif. median home price - April 07: $597,640 (Source: C.A.R.)
Calif. highest median home price by C.A.R. region April 07:Santa Barbara So. Coast $1,475,000 (Source: C.A.R.)
Calif. lowest median home price by C.A.R. region April 07:High Desert $317,420 (Source: C.A.R.)
Calif. First-time Buyer Affordability Index - First Quarter 07:25 percent (Source: C.A.R.)
Mortgage rates - week ending 5/24:30-yr. fixed: 6.37%; Fees/points: 0.4%15-yr. fixed: 6.06%; Fees/points: 0.4%1-yr. adjustable: 5.64%; Fees/points: 0.6%(Source: Freddie Mac)

Fast Facts in California Housing, March 2007

Fast Facts in California Housing: March 2007
Calif. median home price - March 07: $580,090 (Source: C.A.R.)
Calif. highest median home price by C.A.R. region March 07:Santa Barbara So. Coast $1,200,000 (Source: C.A.R.)
Calif. lowest median home price by C.A.R. region March 07:High Desert $320,830 (Source: C.A.R.)
Calif. First-time Buyer Affordability Index - First Quarter 07:25 percent (Source: C.A.R.)
Mortgage rates - week ending 5/17:30-yr. fixed: 6.21%; Fees/points: 0.4%15-yr. fixed: 5.92%; Fees/points: 0.4%1-yr. adjustable: 5.48%; Fees/points: 0.7%(Source: Freddie Mac)