BEAUTIFUL 3 BEDROOM 3 BATHROOM 2208 SQFT SAUGUS HOME. THIS HOME HAS A SPACIOUS KITCHEN WITH GRANITE COUNTERTOPS AND CENTER ISLAND. THE FAMILY ROOM HAS A CUSTOM BUILT IN ENTERTAINMENT CENTER. FORMAL DINING ROOM, LIVING ROOM/STUDY HAS A BUILT IN BOOKCASE AND FRENCH DOORS WITH BEAUTIFUL GLASS INLAY. SPACIOUS OPEN LOFT AREA UPSTAIRS. THE MASTER SUITE HAS A PANORAMIC VIEW OF THE MOUNTAINS. THE BACKYARD HAS A COVERED PATIO WHICH IS GREAT FOR ENTERTAINING. THIS IS A SHORT SALE. click on this link to view virtual tour. http://www.tourfactory.com/514393
The Woodlands is one of Santa Clarita most sought after gated communities. It's located in the heart of beautiful Valencia, in a more established area. The Woodlands has preserved everything Valencia. From the century-old oak trees to ninety acres of soft, rolling hills, with resort-like amenities to enjoy like tennis, swimming and more.
Another highly desired gated communtiy with in Santa Clarita, is Westridge. Westridge is sorrounded by a top rated golf course. TPC Valencia, reflects the vision and distinction associated with the TPC Network of courses. Designed by PGA TOUR, two-time Major champion, Mark O'Meara, the TPC Valencia offers 18 holes of challenging, breathtaking play.
This par-72 championship course stretches 7,220 yards with sweeping views of the Santa Clarita Valley.
The Westridge community and TPC is complemented by the 32,400 square-foot Clubhouse that emulates the old California ranch-style architecture.
Community members can experience the luxury and beauty of the TPC Valencia for hosting weddings and receptions, corporate meetings, banquets, anniversary, or holiday and birthday celebrations. With accommodations for as many as 250 guests the club house offers gourmet menu customization that rivals the finest restaurants; the TPC Valencia creates the perfect event and reception venue. Any event will experience the utmost attention to detail and service to ensure that the days event is as special as it was planned to be.
The Bridgeport gated community offers an unparalleled peace of mind with winding paseos, rolling green hills and a glistening lake. The only place in Valencia you can enjoy true lake living. The most diverse living options with 9 neighborhoods offering single-family homes, condominiums and town homes. With resort-like amenities enjoy a private Lake Club with a swimming pool, spa, barbecues, paddle boats on the lake and a spacious clubhouse.
If your activitly looking or thinking about purchasing a home in one of the gated communites Santa Clarita has to offer, please allow me the opportunity to showcase our community. I have lived in Santa Clarita since 1993 and have a great wealth of knowledge to share with buyers, who have questions about the Santa Clarita Community.
Please visit my website to learn about the services my wife and I provide to our clients. You can also use our search engine to view all the properties listed in Carets & the Socal MLS. www.riccosellshomes.com
As a Realtor thats enjoyed Santa Clarita since moving here in 1993, I'm often asked by clients, "whats there to do in Santa Clarita?" I'm happy to tell them our climate enables Santa Clarita to offer a wide range of outdoor activities all year round.
Boating Castaic Lake Recreational Area 661-257-4050 Boat rental: 661-775-6232 Remember days your youth fishing expiditions, paddling around in a boat, swimming and picnicking at the Lake? You can relive all those great times at Castaic Lake. Memorial Day through Labor Day, kayaks and boats are available for rental. Age restrictions apply to operate the watercraft, but passengers may be any age. The little ones will also enjoy the playground area. Pack your own picnic or purchase sandwiches, drinks and ice cream at the upper lake snack bar. Call ahead or check the web site for details on deposits, rental fees and regulations. Overnight camping is also available. MAP IT!
Fishing Who says you can't go back to the "good ol' days?" Grab your pole and re-create the opening scene from "The Andy Griffith Show" with your children. Two of the largest bass ever caught (18 and 22 pounds) were taken from Castaic Lake, which is right here in our valley. Pyramid Lake,Lake Piru, and Lake Elizabeth are an easy day trip. Bouquet Canyon Creek is located right up Bouquet Canyon Road in the Angeles National Forest, and it provides the quintessential "up north" stream fishing experience. To fish at the base of massive pine trees, head to The Frazier Park area for Quail Lake, Cuddy Creek Pond, and mountain streams. So. California Camping has a great page on freshwater fishing locations in So. Cal.
Golf Courses We have six courses from which to choose, including elite country club settings and lush, mid-length courses. An additional course, Lake Elizabeth Golf Club, is located just 40 minutes east of the City of Santa Clarita.
If your thinking about buying a home in Santa Clarita we'd like the opportunity to earn your confidence and business. Please view our website at http://www.riccosellshomes.com/ to learn more about us.
Here is the number one question I'm asked by struggling homeowners facing foreclosure, "Is it better to do a short sale or go through foreclosure?"
Unfortunately most Realtors don't have the education or training to answer this question. But to sum it up quickly, You need a Realtor that can analyze your financial situation, show you solutions to minimize your financial loss and limit the damage to your credit history. This will shorten the time it will take to recover from the hardship and repair you credit history.
Today's Realtor needs to understands when to pursue a Loan Modification by utilizing the provisions in President Obama's Making Homes Affordable, "Streamline Modification Program." This program was enhanced by S. 896: Helping Families Save Their Homes Act of 2009. http://www.govtrack.us/congress/billtext.xpd?bill=s111-896
It's critical for clients to have a Realtor who is educated enough to review the proposed Loan Modification should you qualify for one. The client has to be able to determine through a cost benefits analysis, if the Loan Modification is the best solution to minimize their financial loss. In most cases a Loan Modification only delays a foreclosure. Without Principle Reductions, most loan modifications have the client owing more then they own now for a property that is not worth that much. Here is the Mortgage Bankers Association, latest National Delinquency Survey. http://www.mortgagebankers.org/NewsandMedia/PressCenter/68008.htm
As a Realtor Specializing in Short Sales and Foreclosure Avoidance, I provide my clients with the necessary information to make informed decisions in this volatile real estate market. In today's market it's critical to have a Realtor that can explain the benefits of doing a short sale VS a Foreclosure. The best solution should minimize your financial loss and limit the damage to your credit history. I educated my clients on how The Mortgage Forgiveness Debt Relief Act and Debt Cancellation works and can benefit you.http://www.irs.gov/individuals/article/0,,id=179414,00.html
One of the most important reasons I tell clients to consider all their options, especially short sales when trying to avoid foreclosure is, "Foreclosure is reported on all future Loan Applications, which will effect your interest rate, short sales are not." It's important to understand and be careful not to commit fraud by trying to obtain another home loan while defaulting on a mortgage. Line F, under Declarations asks if you are delinquent or in default on any Federal debt or any loan, including mortgages. See below
It is more important than ever before for home owners and buyers to work with a Certified Distressed Property Expert, especially with all the rapid changes that are constantly taking place in the mortgage and housing markets. For information on the Certified Distressed Property Expert designation follow this link. www.cdpenow.com
Jennifer & Gary Ricco of Keller Williams VIP Properties strive to provide you with up to date information on how to avoid foreclosure. It's critical to select a Realtor who has the training & experience when facing foreclosure. Our goal is to minimize your loss severity and limit the damage to your credit history. For a free confidential consultation contact Jennifer & Gary Ricco at 661.290.3837. We provide assistance to homeowners in the Santa Clarita Valley, San Fernando Valley and Ventura County. Please visit our website at www.riccosellshomes.com Our Short Sale FAQ link is very informative.
Gorgeous Stevenson Ranch pool/spa home located on a quiet cul-de-sac. Home features a large kitchen with tile floors, granite countertops with a huge center island and stainless subzero refrigerator. Four Bedrooms, one with turret, 3.5 baths with granite, bonus loft area, formal dining room, granite laundry and hardwood floors throughtout. Master travertine shower with marble floors, large master suite. Surround sound family room with fireplace, stained glass windows, recessed lighting, crown molding, and shutters throughtout. French doors to patio, mountian view, gated front courtyard with fountian, 3-car attached garage, sprinkler system. Great curb appeal and exceptional location for all of the nearby schools. A must see! http://www.tourfactory.com/524828
With all the misinformation being distributed by the media these days, Jennifer and I wanted to share with the Santa Clarita community, the expertise we gained by obtaining our Certified Distressed Property Expert designation. As REALTORS® (CDPE's) specializing in foreclosure avoidance, we understand how critical it is for homeowners to find the right professional equipped to handle their situation. Millions of homeowners across America are currently struggling with their mortgages and are in need highly trained professionals to provide assistance with Loan Modification requests and Short Sale options. As real estate professionals, Jennifer and I feel obligated to provide the most up to date information to homeowners, so they can make informed decisions which will help them minimize their loss and limit the damage to their credit history.
President Obama's Making Home Affordable program has created incentive for more Loan Modifications to get approved, refinancing of existing loans to lower monthly payments and recently standardized the Short Sale process for homeowners that don't qualify for refinancing or loan modifications.
With Jennifer and I both coming from careers in Law Enforcement, is wasn't hard to see that this market created an opportunity for struggling homeowners to be taken advantage of. We want the Santa Clarita community to understand that paying fee's for someone to submit a Loan Modification is completely unnecessary. As a service to our community we provide free consultations to struggling homeowners and will show you how to submit a Loan Modification request. We want Santa Clarita homeowners to know they have a trusted resource to turn to. As Advanced CDPE members, Jennifer and I stay on top of this changing process with our affiliation to over 7,000 Realtor's across the country, who are committed to doing the right thing for homeowners.
Alex Charfen is the founder of the Distressed Property Institute. Alex and the board of directors are a wealth of knowledge for our association, they provide monthly training webinar's to our membership to keep us current with this constantly changing process. Please take a minute to watch this important message from Alex. www.youtube.com/user/cdpenow
The following flyer's are very informative, they provide important information for struggling homeowners on the Loan Modification and Short Sale process as options and solutions to avoid foreclosure. As you can see Alex has provided our membership with the knowledge and tools to reach out to homeowners in need of professionals equipped to handle their situations.
As your Santa Clarita REALTOR®, Jennifer and I are committed to our community's needs. We have already successfully helped homeowners in the Santa Clarita Valley avoid foreclosure. We have developled working relationships with negotiators and loss mitigator supervisors. If your a Santa Clarita resident struggling with your mortgage payment, please contact Jennifer and I for a Free Consultation, its critical that you hire a professional who's trained to implement the options explained below to avoid foreclosure.
This announcement comes directly from the National Association of REALTORS® Government Affairs Division 500 New Jersey Avenue, NW, Washington DC, 20001. As Realtor's Specializing in Pre Foreclosure options and short sales, Jennifer and I like to keep the public up to date on changes impacting the Foreclosure Process.
Responding to the call of the National Association of REALTORS®, on May 14, 2009, the Obama Administration announced incentives and uniform procedures for short sales under its new Foreclosure Alternatives Program (FAP). For borrowers who are unable to retain their home under the Making Home Affordable Loan Modification Program, the servicer may consider a short sale or, if that is not successful, a deed-in-lieu of foreclosure. Participating servicers must comply with program requirements so long as they do not conflict with contractual agreements with investors. Late July is the Treasury Departments current target for issuing guidelines and forms necessary to start the program.
The problem with this is the servicers participating in this program still have control over the short sale process, they will still be able to delay and control the process without any accountability.
Borrowers (Homeowners).
Borrowers/homeowners qualify under the FAP if they meet minimum eligibility requirements for the Home Affordable Modification program (Streamlined Modification Program) but do not qualify for a modification or do not successfully complete the three month trial period. Before proceeding with a foreclosure, the servicers must determine if a short sale is appropriate.
Incentives.
Incentives include: (1) $1,000 for servicers for successful completion of a short sale or deed in-lieu of foreclosure; (2) $1,500 for borrowers/homeowners to help with relocation expenses; and (3) up to $1,000 toward the cost of paying junior lien holders to release their liens (one dollar from the government for every $2 paid by the investors to the second lien holders).
This is a great incentive for the servicers, it will also help struggling homeowners with moving expenses. This will also help negotiations with junior lien holders because most junior lien holders are requesting 10% of the amount owed.
Standardized Documents.
The program will include streamlined and standardized documents, including a Short Sale Agreement and an Offer Acceptance Letter. The goal is to minimize complexity and increase use of the short sale option.
These documents are already standardized, here in California a short sale transaction is no different then any other transaction, it only has one additional contingency. (lender approval of short payoff) CAR has also provided a short sale addendum/short sale agreement.
Property Valuation by Appraisal or BPO.
Servicers will independently establish both property value and minimum acceptable net return, in accordance with investor requirements. The price may be determined based on an appraisal or one or more broker price opinions (BPOs), issued no more than 120 days before the date of the short sale agreement.
This has been a big problem, since the HVCC (Home Valuation Code of Conduct) went into effect the servicers and lenders set the property value, which is often above what Fair Market Value is. This can cause appraisal issues as lenders/investors try to drive home values higher in a declining market.
Time-line.
In the Short Sale Agreement, servicers must give borrowers/homeowners at least 90 days to market and sell the property, or up to one year, depending on market conditions. Property must be listed with a licensed real estate professional with experience in the neighborhood. No foreclosure may take place during the marketing period (at least 90 days) specified in the Short Sale Agreement.
This is another step in the right direction for struggling homeowners who have received a NOD & NOTS, it affords Realtor's familiar with the area extra time to find a buyer. The problem I still see with the short sale process, with regards to time-lines is the amount of time the servicers take to approve the transaction. The amount of time a short sale proposal takes is still a deterring factor for buyers.
Commissions.
The Short Sale Agreement must specify the reasonable and customary real estate commissions and costs that may be deducted from the sales price. The servicer must agree not to negotiate a lower commission after an offer has been received.
No Borrower Fees.
Servicers may not charge fees to borrowers/homeowners for participating in the FAP. Program Expiration. The program is in effect through 2012.
Deed-in-Lieu of Foreclosure Option.
Servicers have the option to require the borrower/homeowner to agree to deed the property to the servicer in exchange for a release from the debt if the property does not sell within the time allowed in the Short Sale Agreement (plus any extensions)
Deeding the property to the servicers may be a good option for primary residence homeowners. The borrower must make sure they are released from all the debt, clarify how this will be reported on their credit report and the shortages fall under tax relief from the Mortgage Debt Relief Act, which investment properties do not.
If your a Santa Clarita Homeowner struggling with your mortgage payment or facing foreclosure, Jennifer and I are here to show you what options you have. Don't pay additional fee's, our consultations are FREE, as a community service we will show how to request a loan modification from your lender, should you meet the guidelines.
As Santa Clarita Realtor's Specializing in short Sales we have the experience and training to provide you with solutions that will minimize your financial loss and limit the damage to your credit history. Contact Jennifer and Gary Ricco, at Keller Williams VIP Properties to schedule a consultation today. 661.290.3837
As Realtor's specliaizing in short sales in the Santa Clarita Real Estate market, Jennifer and I strive to set ourselves apart from the average agent. Jennifer and I believe in "Quality Consulting Through Continuous Improvement" As the real estate market and economy changes we change with it. We also believe that continuing education and technology are critical elements a Realtor must invest in, to be able to consult buyers and sellers in today's market.
In an effort to provide our clients with the most current and innovative ways to search for the property of their dreams, Jennifer and I recently upgraded the way our clients have access to the properties listed on the MLS. Our new system utilizes Google maps and provides the individual searching for a property ariel photos of the home and the surrounding neighborhood, the ability to search in a specific tract with Santa Clarita, search for Santa Clarita short sale properties, bank owned properties, and gated communities. The system provides a walking score, which scores the properties walking distance to stores, parks, and paseo's.
Please go to our website www.riccosellshomes.com click on the "buyers link" or the,"Search Santa Clarita Tract link" and try our new system. Jennifer and I would appreciate your feedback, especially if you difficult to search for and find Santa Clarita properties. We value any and all consumer comments.
The $8,000 first time home buyer tax credit can also be utilized on 1-4 family properties. The greatest thing is that not all buyers need to be first time home buyers. This means that an individual who qualifies for the credit can get their parents to co-sign on the loan and/or contribute to the down payment, and this would not disqualify the individual from taking the credit. A group of friends, relatives or investors could get together and buy a duplex, triplex, or four-unit property, and the credit can be claimed by any one or more of the investors as long as the individual(s) claiming the credit live in one of the units as their primary home for at least three years. They could claim the credit even though they are generating income by renting out one or more of the other units.
The maximum FHA loan-limit on four-unit properties ranges from $521,250 in low cost housing markets up to $1,403,400 in the highest cost markets of the country. An investor who is trying to sell their 1-4 family unit property can also utilize this strategy to stimulate potential buyers. This strategy just became a whole lot easier now that the FHA is allowing the credit to be utilized as part of the buyer's down payment. As of May 29, buyers are now allowed to borrow against the credit or sell it to their lender or another 3rd party as way of helping with their down payment.
Reverse Mortgage for Purchase Transactions
Until the end of 2009, an investor who is age 62 or older can purchase a 1-4 unit property worth up to $625,500 with a 30% - 35% down payment, live in one of the units, generate income by renting out the other units, and never have to make a mortgage payment for the rest of their entire life. This opens up a lot of options for seniors and investors who are wondering how to supplement their retirement income now that their house values and retirement accounts have taken such a huge hit.
The reverse mortgage for home purchase transactions became available on January 1, 2009, and the higher loan limit of $625,500 became available a few months ago as part of the 2009 economic stimulus plan. Investors who are trying to sell their duplexes, triplexes, or four-unit properties can utilize this strategy in their marketing as a way of stimulating potential buyers. This strategy has been lost in all the noise of the last few months and very few people are aware that it can be done. The $625,500 higher loan limit really opens up a lot of options, but it expires at the end of the year so you need to take action now.
Rent-to-Own or Sale-Leaseback Opportunities
There are a large number of distressed home owners who will not qualify for the mortgage modification plans announced by the government. These home owners still need a place to live, and many will not be able to qualify for conventional or government mortgage financing for at least another 3-5 years.
A rent-to-own strategy is where an investor or Realtor takes a potential home buyer house shopping even though the buyer can't qualify for traditional financing. The investor buys the house, rents it to the tenant who picked out the house and wants to live there, and gives the tenant the right to buy the home at a pre-determined price at some point in the future. A sale-leaseback strategy is where a home owner sells their current property to an investor and then pays the investor rent, with the option to buy back the home at a pre-determined price at some point in the future.
While most real estate investors are scrambling to find tenants for their vacant properties, savvy investors could utilize either a rent-to-own or a sale-leaseback strategy to find tenants before they commit their investment dollars to a specific property. This is a fantastic opportunity for investors to work with the large population of people who won't qualify for the government foreclosure prevention plans.
Even so, there are a few potential landmines to avoid. If the tenant defaults on their rent or walks away from the deal, the investor could be left holding the bag. Also, if the investor defaults on the mortgage and goes into foreclosure, the tenant may be evicted by the new owner. The new federal housing law provides two minimum guidelines that protect tenants in these and other situations:
Tenants are now allowed to occupy the property until the end of their lease term (even after the landlord goes through foreclosure) as long as the new buyer does not intend to occupy the new home as their own primary residence.
If the new buyer intends to occupy the home as their own primary residence, the tenant must be given a 90 day notice before being forced to leave.
It is more important than ever before for investors, home owners and buyers to work with a Certified Distressed Property Expert, especially with all the rapid changes that are constantly taking place in the mortgage and housing markets.
Contact Jennifer & Gary Ricco of Keller Williams VIP Properties at 661.290.3837. To search for properties & learn more about us please visit our website at www.riccosellshomes.com
Homeowners dealing with foreclosure are faced with difficult decisions. Foreclosure is quite possibly the most devastating financial and emotional process a homeowner or family can go through. The reality is, it's not going to be painless, however many foreclosures should never happen. Homeowners have options and now they have somewhere to turn for solutions.
As Santa Clarita Realtor's specializing in short sales, Jennifer and I are here to educate homeowners why it's important to avoid foreclosure. Our objective is to minimize an individuals financial loss, while limiting the damage to their credit history. This is why it's critical to select and utilize a Realtor who has successfully helped homeowners avoid foreclosure in this market. Through extensive education and ongoing experience, Jennifer & I have dedicated our time and effort to understanding the issues distressed homeowners are dealing with. We understand and utilize a full range of solutions, which are dictated by the clients financial situation.
On April 16, 2009 Jennifer and I successfully negotiated and closed a short sale, preventing a foreclosure, on 25338 Joyce Place, Stevenson Ranch. Here's a photo of the property
Caring, diligent, aggressive, thoughtful are just some of the character traits that describe the dynamic duo of Jennifer & Gary Ricco. The short sale process was a long process that had its share of frustration and angst; however, Jennifer & Gary never gave an inch to the lender, worked constantly with the lender and other parties to ensure we received the best possible terms for the sale of our property. In addition, they walked us through the process, kept us up to date with the latest information, and remained positive throughout the entire process.
Jennifer & Gary worked out a great deal for us that allowed us to sell our property as well move on with our life at a new residence that Jennifer & Gary were instrumental in helping us to secure. We could not have closed the sale of our home with such agreeable terms and moved on successfully to our new residence without the tremendous efforts & skills of both Jennifer & Gary.
We sincerely thank you and will recommend you both to our friends, family & peers.
Daren.
On May 22, 2009 Jennifer and I successfully negotiated and closed a short sale, preventing a foreclosure, on 26764 Pamela Drive, Canyon Country. Here's a photo of the property.
Over the last 20 years, I have experienced the purchase and sale of several homes, and have dealt with a variety of Realtors. By far, my experience with Gary and Jennifer Ricco has been the most satisfying of all. From the moment we met Gary and Jennifer, I was extremely impressed with their professionalism.
The sale of this house was a very difficult decision for my family and me, due to the tragic circumstances surrounding this resolution. When I called Jennifer to arrange the first meeting, she was empathetic, showed great compassion for my situation, and was strongly equipped with all sorts of relevant information.
Through the entire process they explained every procedure, had great strategy in place, and went above and beyond to promote the sale of the house. Additionally, for hours and days at a time, Gary relentlessly negotiated with the mortgage company in order to get the lengthy and tedious process sorted out. Fortunately and thanks to all their great efforts the house was sold!
My family and I will forever be grateful for their hard work and determination. Because of this wonderful support; we can now look forward to owning another home in the not so distant future.
Jeanette
If your struggling to make your mortgage payments due to a Job loss, medical condition, divorce or an adjustable rate mortgage or have been unable to make your mortgage payment, time is running out. Take this time to talk with Jennifer & Gary Ricco, Santa Clarita Realtor's Certified as Distressed Property Experts, our consultations are free, educational and confidential. We will analyze your financial situation and provide you with solutions that minimize your financial loss and limit the damage to your credit history. Don't loose your home to foreclosure without a fight. To set up an appointment call 661.290.3837
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.
;)
;)
