Dave's Blog

6 Reasons it is wise to purchase CA real estate in 2010!

Dave McKean (Classic Real Estate Inc) — Thu, 18 Feb 2010 19:55:47 -0800

Here is some helpful information for anyone looking to purchase real estate in 2010.

1. More inventory is coming - NAR / RealtyTrac -say there are more than 2 million homes are currently in the foreclosure process, and foreclosure notices will rise to 3.1 million 2010. This flood of inventory will hit our market. One reasons for this is Obama Administration pressure banks to postpone repossessions until loan modifications could be attempted. However, many banks didn't have the staff to assess all their defaulted loans and they have just postponed dealing with them. Ultimately they go into foreclosure in 2010.

2. Loan-modification program has been disappointing. There are very strict requirements and only 4 % of those applying receiving them. The default rate on loans modified after the third quarter of 2008 was 61%! These homes will also becoming on the market.

3. Interest Rate to go up. Federal Reserve has indicated it plans to end the Tax Credit program that's helped keep mortgage rates at attractive levels for home buyers. The Fed program, which involved purchasing up to $1.25 trillion in mortgage-backed securities backed by Fannie and Freddie, will expire on March 31. Interest rates have already started to inch up in anticipation of the change, with the average 30-year fixed-rate mortgage surpassing the 5% mark in December.

4. Another bubble is coming. Another round of Toxic Alt-A and option ARMs loans are ready to reset over the next 12 to 18 months. At least $64 billion in option ARMs will reset in 2010 and another $68 billion in 2011, according to First American CoreLogic, a real estate and mortgage-data company. The number of homeowners defaulting on their mortgages is expected to surge. This will help keep prices down.

5. Tax Credit - The government's decision to extend the $8,000 first-time home-buyer tax credit to mid-2010 and expand the program to include a $6,500 credit for non-first-time home buyers will likely help lure home shoppers into the market. But will end this spring.

6. Home prices could fall another 5% to 10% when more foreclosures hit the market allowing many first time buyers a real chance at owning their own home.

"Classic has a YOU attitude"

Dave McKean

Broker, Owner, GRI

Santa Clarita Valley - Sagauro SOLD

Dave McKean (Classic Real Estate Inc) — Fri, 27 Feb 2009 13:45:56 -0800

Status: SOLD

Type: Single Family Home
Beds: 4
Baths: 3
Sq. Feet: 1621sf
Lot Size: N/A
Year Built: 1988

Offered at: $319,900

This beautiful Sagewood Home has much to offer. Including vaulted ceilings, a bay window and a fireplace in the living room. There are laminate wood floors throughout the living area and tile floors and countertops in the kitchen.

The spacious 4 bedrooms located upstairs offer a mountain view. Custom paint throughout the home and a above ground spa with cover on the brick patio. There are cabinets and a work bench in the 2 car garage for storage.

This beautiful home is a must see. Call us for a personal tour.

For more pictures and a virtual tour!

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Santa Clarita Valley - Sienna Ridge Row (SOLD)

Dave McKean (Classic Real Estate Inc) — Thu, 17 Jan 2008 21:35:37 -0800

Awesome View Home!

Status: SOLD
Type: Single Family Home
Beds: 4
Baths: 3
Sq. Feet: 2353sf
Lot Size: 4822sf
Year Built: 2002

this gorgeous home offers 4+3 in over 2,000 sq ft. of spacious living. It has a computer niche upstairs in the loft, a formal dining room, and built-in cabinets in the garage. There is custom paint and décor in the bathrooms and throughout the home. The kitchen offers upgraded tile countertops and backsplash, island, and beautiful view into the backyard and over the valley. The backyard is low maintenance with lots of roses and just an awesome view. You can even see Magic Mountain's fireworks. This home has a lot to offer at this price!

Click Here for more available properties!

Santa Clarita Valley - Paragon (Rented)

Dave McKean (Classic Real Estate Inc) — Mon, 24 Dec 2007 15:59:51 -0800

Mountain View West

This beautiful Mountain View Home is a 3 bedroom single story home. The kitchen offers tile flooring and countertops, Oak cabinets, and upgraded appliances. Formal dining room and family room with fireplace.
Lovely backyard with custom playhouse. Includes 2 car garage and possible RV parking. Located close to schools and shopping.

Status: Currently Rented
Type: Single Family Home
Beds: 3
Baths: 2
Sq. Feet: 1608sf
Lot Size: N/A
Year Built: 1984

Click Image for more pictures and virtual tour.

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Tarzana - Hatteras (Rented)

Dave McKean (Classic Real Estate Inc) — Fri, 16 Nov 2007 20:29:08 -0800

Tarzana Tennis Townhouse

This Tarzana Tennis Townhouse shows beautifully. It offers 2 bedrooms and 2 full bathroom amongst 1200 sq. ft. Includes a bonus room that can be used for storage or a living area. There is new carpet and new paint to make this home move in ready. Located among a landscaped association with club house, pool, spa, and tennis courts this home has much to offer.

Call for you personal tour 661-702-1940!

Status: Rented
Type: Single Family Home
Beds: 2
Baths: 1.5
Sq. Feet: 1200sf
Lot Size: N/A
Year Built: 1977

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Santa Clarita Valley - Sidani (SOLD)

Dave McKean (Classic Real Estate Inc) — Sat, 13 Oct 2007 13:35:28 -0700

Huge Madison St. Clare Home!

This is an awesome John Lang home - the largest model expanded with 6 bedrooms and 3 bathrooms. The home has around 3000 square feet. Over $75K was spent in upgrades. The main floor has 20" custom tile and paint. Granite kitchen counters and island with recess lighting make this kitchen a homey place.

The spiral staircase glides upstairs to the loft area which houses a second family room, 3 bedrooms and an expansive master bedroom with Plantation Shutters and custom paint. The master bath has a large shower with seat, jetta tub, two personalized sinks and preparation areas plus a large walk-in closet with lots of hanging space.

Downstairs there is a Mother-in-law or maid quarters with a private living room, bedroom, and bathroom and a separate outside gate entrance as well as house entrance.

Status: SOLD
Type: Single Family Home
Beds: 6
Baths: 3
Sq. Feet: 2978sf
Lot Size: N/A
Year Built: 2004

Click on Image for more photos and a virtual tour.

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Santa Clarita - Haskell - SOLD

Dave McKean (Classic Real Estate Inc) — Sat, 06 Oct 2007 11:15:24 -0700

Beautiful upgraded Canyon Heights Home.

Sitting on a corner lot this home has beautiful custom tile through out the living room and family room. Living room has a gas fireplace. The kitchen offers tile countertops, white appliances, and a breakfast bar and nook. The backyard has a covered patio and gazebo spa. The master bedroom offers plush carpet and a large walk-in closet. Tile countertops and a separate garden tub and shower. There are two full bathrooms, a 3 car garage, RV parking, laundry room and hardwood floors in the bedroom. This home has much to offer. Close to shopping and Saugus School District. Call for a personal tour 661-702-1940.

Status: SOLD
Type: Single Family Home
Beds: 4
Baths: 2
Sq. Feet: 2084sf
Lot Size: N/A
Year Built: 1997
Offered at: $549,900

Click on Photo for more a virtual tour.

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Santa Clarita Valley - Saratoga - SOLD

Dave McKean (Classic Real Estate Inc) — Fri, 07 Sep 2007 19:42:25 -0700

Awesome... American Beauty Condo

3+2 condo with view of the association pool, green belt, BBQ patio and play area. Located in the back of complex secluded from the main street. This condo offers newer paint and carpet, with white painted kitchen cabinets, laminate floors, and New copper plumbing. Very private corner unit with 2 car garage. Close to Freeway and Shopping. Call for a personal tour 661-702-1940.

Status: SOLD
Type: Condo
Beds: 3
Baths: 2
Sq. Feet: 934sf
Lot Size: N/A
Year Built: 1984
Offered at: $269,900

Click on Photo for more pictures and a virtual tour

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Santa Clarita Valley - Lyons Ave - SOLD!

Dave McKean (Classic Real Estate Inc) — Fri, 24 Aug 2007 18:27:03 -0700

2 Bedroom - Old Ochard Condo!

This awesome Old Orchard Condo has 2 bedrooms and 2 bathrooms in a lower corner unit. Offers direct access to carport and is close to association pool. The condo offers travertine countertops, accented carpets and custom molding. The upgrades include dual pane E windows, THOR soft line washer and dryer, and designer accent lighting. Near Old Orchard Park and close to shopping and freeways. Call for more information or for a personal tour 661-702-1940.

Status: SOLD
Type: Condo
Beds: 2
Baths: 2
Sq. Feet: 987sf
Lot Size: N/A
Year Built: 1969
Reduced Price - Offered at: $209,900

Click on Photo for more pictures and a virtual tour!

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Santa Clarita Valley - Plum Cyn (SOLD)

Dave McKean (Classic Real Estate Inc) — Fri, 24 Aug 2007 18:13:19 -0700

Warm Bouquet Village Condo!

This stunning Bouquet Village Condo sits in a lush green complex nestled behind Bouquet Canyon Road. It offers beautiful hardwood floors throughout the downstairs and custom paint. This unit has copper piping, carport parking, and an association pool and playground. Located close to schools and shopping this unit is a must see.

Status: Sold
Type: Single Family Home
Beds: 2
Baths: 1
Sq. Feet: 834sf
Lot Size: N/A
Year Built: 1977

For more information click on photo!

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Santa Clarita Valley - Bernina (Rented)

Dave McKean (Classic Real Estate Inc) — Thu, 28 Jun 2007 11:55:51 -0700

4 Bedroom Vista De Oro!

This home is a spacious 4 bedroom and 2 bathroom home sitting on the hill in Canyon Country. It offers a large backyard with patio, an attached two car garage, and an open living room for entertaining. Sitting on a cul-de-sac in a family neighborhood, this home allows plenty of room for the whole family. The home has a beautifully tiled kitchen and dining room floor, a new dishwasher and stove in the spacious kitchen with room for an island. Ample closet space with additional storage in the garage. This home is a must see!

Status: Currently Rented

Type: Single Family Home
Beds: 4
Baths: 2
Sq. Feet: 1475sf
Lot Size: N/A
Year Built: 1972

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FOR THE LOVE OF PEOPLE!

Dave McKean (Classic Real Estate Inc) — Wed, 27 Jun 2007 16:28:43 -0700

Keeping an open heart and a love for people is what keeps us going!

Every year my wife and I go on a mission's trip and for the last three years we have had the privilege of traveling to Fiji. We work with Campus Crusade for Christ in passing out the Jesus Film to the island locals in there native language and in Hindi. Below is our wrap up for this year's trip. To read more about each day's adventures click on the image below. For more information about the island of Fiji visit my blog "Island Fever!"

FIJI 2007

Wrap-Up Report

As we spent time reflecting on our time in Fiji this year, we are filled with awe at what God chose to do. While the team spent lots of time in preparation, it seemed that we just had the privilege of showing up and participating in something that God wanted to do to build his church among Hindi speakers. One of our local partners kept exclaiming repeatedly during the week "this week has been just like the second chapter of Acts (Acts 2:42-47), where the believers continually devoted themselves to teaching, to fellowship, to breaking bread together and to prayer, everyone was filled with awe, praising God and enjoyed the favor of all the people ... and the Lord added to their number daily those who were being saved." Interestingly, Acts 2 is followed immediately by Acts 3, where God chose to show His power as the lame man walked.

While we don't necessarily understand it, we all experienced something unique in the unity of the American and Fijian team members, the prayer together, and the leading of the Holy Spirit to specific individuals - 312 of them all together - that needed Jesus. And as Gary, one of our team members prayed during our debrief, "We will never be the same."

Nor will our partners and partner churches in Fiji likely to be the same. One told us "we have seen by the response that we have been asleep." As God chose to heal a lame man, a deaf woman and a man who'd had a stroke in one neighborhood, a church was planted the next Sunday in that very house, by Pastor Prasad, bringing a beacon of light into a neighborhood which we had not initially targeted. We also had our "plans" interrupted by a partner church from last year, Peace Chapel, who begged us to send a few people to help them begin a church plant in a valley for which they had been praying for 8 years. Pastor Ezekiel has committed to following up to the 50 homes we visited that day with his church members. Two of our team members had their plans interrupted as they ran into a school teacher at a bus stop, and paused to talk. As a result, 3 days later our team members had the privilege of praying with 20 of her students as they opened their hearts to Jesus. Another time, two team members felt compelled to stop and chat with a construction foreman who was supervising a crew building a house. Hearing that our team was engaged in "building lives", he stopped his crew, had all 10 come over and listen to the Gospel presentation, after which 2 of the crew prayed to receive Christ. None of these events was planned by us, but prepared by God as trained believers went out, led by the Holy Spirit, to seek the lost.

Thank you for allowing me to share with you the experience we had this year.

Dave McKean

Classic Has A YOU Attitude!

Island Fever!

Dave McKean (Classic Real Estate Inc) — Tue, 26 Jun 2007 20:02:47 -0700

Here is some basic information about the beautiful island of Fiji.

The Fiji Islands in the South Pacific are an archipelago of over 330 islands packed with attractions that can be found no where else and offers a unique experiential opportunity for the visitor. Whether you seek Romance, Relaxation, Cultural Immersion, Cruising the Sea, or the Ultimate Eco-Tourism escapade, you'll find fulfillment here.
Fiji has an unspoiled, unique environment of extreme beauty and tranquility. Adrift for millennia in splendid isolation in the blue of the South Pacific it has escaped the evils of industrial progress, the incursions of dangerous animals, poisonous snakes, spiders and pestilent diseases such as malaria. It awaits your discovery.

CLIMATE Fiji enjoys a tropical climate without extremes. The cooler dry season is May to October with average temperatures of 26C, and the warm wetter season from November to April has average temperatures of 30C.

CURRENCY The Fijian dollar is the local currency.

LOCATION The Fiji Islands lie at the very heart of the romantic south seas, straddling the tropical latitudes at 12 to 20 degrees south of the Equator. Also the islands are on the other side of the International Date Line.

Suva is the capital city of Fiji. It is located on the southeast coast of the island of Viti Levu, in the Central Division, of which it is the administrative center. In 1877, it was decided to make Suva the capital of Fiji when the geography of former main European settlement at Levuka on the island of Ovalau proved too restrictive. The administration of the colony was moved from Levuka to Suva in 1882. At the 1996 census, the last to date, the city of Suva had a population of 77,366

Fiji's warm hospitality is its foremost natural attraction. The Fijian culture is lively and colorful, and the source of the islands' friendly and inviting atmosphere. Fiji's easy-going style is accented with Polynesian and Asian influences displayed in native and imported crafts sold at open-air bazaars, in lively festivals and celebrations, and in exotic ethnic cuisines.

More than 300 islands are host to endless days of snorkeling in crystal seas, surfing on some of the world's most formidable waves, sunning on secluded beaches, trekking through lush rainforests, and quite a lot more. Viti Levu, literally 'Great Fiji,' is the largest island where you'll find a good sampling of all that Fiji has to offer: Elegant resorts, traditional villages, the busy capital city of Suva, scenic drives through rural countryside, and ferries to neighboring islands.

Happily, traditional Fijian art, architecture, music and dance are much a part of daily life, even in modern times. Intricate wood-carving, masi bark cloth design, and the building of handsome pitched-roofed houses called bures are treasured skills. Welcoming guests with a kava drinking ceremony is an honored ritual. And the practice of fire walking is performed regularly for astounded visitors.

Classic Has a YOU Attitude!

Service Vendor - Craig's Home Services

Dave McKean (Classic Real Estate Inc) — Wed, 13 Jun 2007 18:06:23 -0700

Never buy a house without an inspection. We have seen several buyers on our current listings waive their right for a home inspection.

WHY?

If you take into consideration the repairs that a buyer has to make once they move into a property, it is cheaper to have a professional inspector look at the property before you have to remove all contingencies. The saving is uncomparable. Here is a referral for one of Classic's Business to Business Partner.

Craig's Home Servies has worked with Classic Real Estate and Property Management for several years. We have used him for home repairs and home inspections.

Serving Valencia, Saugus, Newhall, Castaic,
Canyon Country, Aqua Dulce and Acton. And
portions of the Northeast San Fernando Valley.

Call Craig's Home Services for the following Services:

Physical Home Inspections
Know what you're buying before you buy it!

Home Repairs
Repairs performed by a qualified Handyman!

Click Here for more available properties!

Click Here to see what Classic has to offer!

Santa Clarita Valley - Newhouse - SOLD

Dave McKean (Classic Real Estate Inc) — Wed, 13 Jun 2007 17:26:06 -0700

Cozy Lower North Oaks!

Energy Efficient Home! This 3 bedroom and 1.5 bathroom Lower North Oaks home has many upgrades. This home is within walking distance to an elementary, Jr. High and High School. It is close to shopping and the freeway. It offers a remodeled kitchen with new laminate flooring, new Corian countertops, new appliances, and custom built cabinets. The remodeled bathrooms offer a new tub, new tile, and custom paint. This home has been fully insulated and with a new high efficiency A/C it makes this home stay COOL. There are no rear neighbors giving the fully enclosed large backyard lots of privacy. This home is worth taking a look at. Call for a personal tour 661-702-1940 x221

Status: SOLD
Type: Single Family Home
Beds: 3
Baths: 1.5
Sq. Feet: 982sf
Lot Size: N/A
Year Built: 1961

Price Rduced: $359,900

Click on photo for more photos and a virtual tour!

Click Here for more available properties!

Click Here to see what Classic has to offer!

What Santa Clarita Valley has to offer?

Dave McKean (Classic Real Estate Inc) — Tue, 12 Jun 2007 17:33:47 -0700

Are you contemplating the purchase of real estate in the near future? Congratulations!
It's a big decision and an exciting, rewarding process. Dave has lived and worked in the Santa Clarita Valley for 20 years. He has seen the city grow and the real estate market in its good times and bad times. Dave will find you the right house for your needs.

Whether you are a first time buyer or have bought many homes;

Whether you are moving across town or relocating to the Santa Clarita Valley from another area. Here is some information that may be helpful.

Located 35 miles northwest of downtown Los Angeles, the City of Santa Clarita encompasses 52.032 square miles of the approximately 200-square mile Santa Clarita Valley. Therefore, the City of Santa Clarita is the largest in geographic size within the County of Los Angeles. The City is situated south of the sierra Pelona mountain range and north of the Santa Susanna and San Gabriel mountain ranges between Interstate 5 and State Highway 14.

School Information

Demographics

Economics and Quality of Life

Filming

The Santa Clarita Valley has been rated in the following magazines:

"Top 25 City Retail Markets in California"
2007 Edition of the California Retail Survey

"100 Best Communities for Young People"
America's Promise, 2007

"Best Place to Live in California"
CNN/Money Magazine, 2006

"Top 25 Best Places to Live in the U.S."
CNN/Money Magazine, 2006

"Third Safest City in California"
California Department of Justice, 2006

"One of the Top 25 Best Affordable Suburbs in the U.S."
BusinessWeek, 2006

"Most Business-Friendly City Award Finalist"
Los Angeles Economic Development Corporation, 2006

"One of the best economies in Los Angeles County"
Union Bank, 2006

"Helen Putnam Award"
For Mentoring Program and Youth Grove, 2006

"One of America's Best Places to Live"
Relocate America, 2004

"Top 10 Safest City in the Nation"
Fourth, FBI statistics, 2005 (with a population over 150,000)

"Top 10 Safest City in the Nation"
First, FBI statistics, 2002 (with a population over 150,000)

Call us for more information or visit our website at www.ClassicRealEstateInc.com. You will receive first rate, personalized service from Dave McKean. As a real estate professional specializing in residential and residential income properties, Dave represents his client with the utmost integrity and honesty.

We look forward to working with you!

Santa Clarita Valley - Sundowner (Rented)

Dave McKean (Classic Real Estate Inc) — Tue, 12 Jun 2007 16:27:59 -0700

Remodeled American Beauty Condo!

This beautiful 3 bedroom and 2 bathroom American Beauty Condo has 948 sq. ft., vaulted ceilings, and a 2 tandem car-garage. It has been remodeled with new carpet and linoleum flooring, new paint, new bathroom counter top, new copper re-piping, and refurnished kitchen cabinets. Located near the association pool and spa this complex also offers a playground and convenient access to shopping and the freeway.

Status: Currently Rented

Type: Condo
Beds: 3
Baths: 2
Sq. Feet: 948sf
Lot Size: N/A
Year Built: 1985

Visit www.RentwithClassic.com for rental information!

Click Here for more available properties!

Click Here to see what Classic has to offer!

The Truth and Nothing But the Truth!

Dave McKean (Classic Real Estate Inc) — Thu, 07 Jun 2007 19:34:45 -0700

The Santa Clarita Valley market is definitly in a down market. You may not want to believe it, but the numbers don't lie. We entered 2007 with a lot of activity in the lower end housing. But when the large sub prime lenders started going bankrupt the low end activites dried up. I was hoping that first time buyers would still qualify with 3-5% down, but very few buyers are qualifying for new loans at all. According to my research March 2007 the SCV had 300 homes close escrow, in April 225 closings and May only had 236 closings. In May we had 724 new homes on the market, putting our inventory up to over 2200 properties. At this rate we have a present standing inventory of 10-11 months.

How does this affect our clients?

The GOOD news is for buyers! There are some really good deals to be found for people buying their first or moving up. This is the time to do it.

The BAD news is for sellers. We are in a buyer controlled market. If you want to sell you have to be the best house on the clock and the lowest price (even below market), and ready to deal with the buyers.

We are also seeing a huge influx of foreclosures hitting the market. This is does not help the inventory. On top of this it looks like interest rates are going to move up over the next 6 months to a year, so now is the time to get it sold.

This market is not going to go away quickly we should expect it to continue for the next two years.

Homes are still a very good investment and will continue to be. Homes are our greatest tax write off and they will still grow in value. If you need help in Real Estate, Investments or Property Management. Call us 661-702-1940!

Thanks,

Dave McKean