We’re Influencing California State Legislation and Housing Affordability
It’s all about housing affordability in California. We along with 2,498 fellow REALTORS® ascended upon our state capital, to discuss our clients needs to improve the home buying and selling landscape for all our neighborhoods. It get’s down to affordability.
The Citrus Valley Association of REALTORS® Senior Staff, Committee representatives along with a few local, hand picked REALTORS® headed the legislative and lobbying initiative to the steps of our states capital. We were blessed to be chosen as your local representatives.
As it stands, California requires 180,000 new home starts per year to manage supply and demand. Today, we have less than 90,000 starts scheduled. This is one of our primary concerns on our push for legislation.
The high cost to a builder in California hit home for us in Upland, Claremont, Pomona, Glendora and surrounding neighborhoods. What was revealed is the builders fees of upwards of $120,000.00 “per door” before a shovel hits the ground. These fees are associated with exorbitant legislative regulations imposed on new home builders. This bureaucracy is out of control.
Riverside Press Enterprise Editor, Richard K. De Atley wrote of this concern in a recent article Are Inland Empire residents locked out of the housing market? This article asserts the concerns that we hear from our buyers daily as their REALTORS®… “homes are too expensive”, “we don’t qualify with our combined income” and “where are the new builds?”. We asserted your concerns with our legislators and pleaded the realities of the housing affordability crisis.
The bills that reach The Governors Desk for signature begin with your needs in our neighborhoods. We are currently in the planning process of bringing local housing affordability initiatives to our valley’s Senators and Assembly persons.
We need you to assist us in influencing these future referendums, please contact us directly @ (909)985-9392.
$56Million, 112 Acres, Brentwood, CA …Actually a Steal
Robert Taylor Ranch Listed for $56 Million How can we say a "a steal"? Brentwood, CA is one of the most expensive zip codes in the US and high ranking in the world. When you consider that the average home in this part of Beverly Hills, Holmby Hills, etc... will sell...
It's Official…New Buyers Must Meet June 30 Close Deadline to Get Tax Credit
It seems our illustrious government representatives can't find a common ground to on which to meet...what's new? With the recent defeat of HR 4213 on The Hill...it leaves an uncertain feeling in the mouths of buyers that are trying to take advantage of the $8,000.00...
Nixon’s Former San Clemente, California Estate Gets Another Price Cut
It appears that not even the title of The President of The United States can salvage an offer in todays Southern California home market. This exquisite example of a Spanish Revival...predominant on So Cal's Gold Coast during the 1920's and '30's...wreaks of a relaxed...
Charlize Theron Renting Her Malibu Beach House for $50,000/Month
I'm wondering if the home is a beautiful as she is? For the price of a brand-new car, you can rent a home in Malibu. It’s not just any Malibu home, but the home of actress Charlize Theron. The South Africa native is renting it out for $50,000 per month, according to...
What? Prisoners Buying Homes And Getting Tax Credit!
Home Tax Credit….Dead…No Extension
The proposal was simple and necessary: Extend the closing date for the home buyer tax credit from June 30th to September 30th — not the tax credit itself, which required buyers to sign a contract by April 30th, just the closing date. Anybody who has ventured into the...
Fannie Mae To Penalize Walk Aways…Better Known As Foreclosure!
Pull Back On Housing? CEO Of Redfin and Others Are….
How often to you hear a real estate broker bash housing? For me it's twice in two days. I had a chance today to sit down this morning, via satellite, with the CEO of online real estate brokerage Redfin, Glenn Kelman, who is one of the few people actually making money...
Consumer Spending Up…Paying Mortgages Down…Strategic Short Sales
The numbers are telling us some crazy things... It seems that Americans are placing themselves in a unique conundrum. With housing prices continuing to drop, many Americans are turning to loan mods and short sales to reduce their liabilities. As many are aware,...
Home Sales Tumble In May..Tax Credit Gone So Are Buyers
Sales of previously owned homes fell unexpectedly in May as delays in processing mortgage applications hampered the closing of contracts benefiting from a popular homebuyer tax credit, an industry group said on Tuesday. The National Association of Realtors said sales...
Double Dip In Housing Will Cause Slow Economic Recovery
The US economy faces a perilous second half as a new set of problems hits real estate and thwarts any chance for a strong recovery, banking analyst Meredith Whitney told CNBC. cnbc.com Meredith Whitney While stopping short of predicting a full-blown double dip in the...
Sergei Fedorov Selling His Detroit Mansions on Short Sale
Sergei Fedorov, better known for scoring hat tricks than missing mortgage payments, is facing foreclosure on two of his Michigan mansions. The ex-Red Wings star owes more than $2 million on two Bloomfield Hills properties, according to Detroit News. The PrivateBank...
As Loan Mods Fail Banks Accept More Short Sales To Avoid Foreclosures
HAMP Program Falling Flat..155,000 Borrowers Left Program Last Month!
WASHINGTON — The Obama administration's flagship effort to help people in danger of losing their homes is falling flat. More than a third of the 1.24 million borrowers who have enrolled in the $75 billion mortgage modification program have dropped out. That exceeds...
End of Your Emotional Rope! Strategic Short Sale
This is a video from CNN that is beating up this guy about his decision to do a Strategic Short Sale. However, this homeowner "investor" is right! Morally wrong? Is it morally wrong for banks to default on their properties? or is it a business decision? The last 4...
Some Fun Facts…We All Need A Break From Short Sales!
Interesting and Fun Facts: In the 1400's a law was set forth in England that a man was allowed to beat his wife with a stick no thicker than his thumb. Hence we have 'the rule of thumb' Many years ago in Scotland , a new game was invented. It was ruled 'Gentlemen...