Some good news for Westlake and Agoura Hills

By: Sher Hann

If you want to follow the trends, just follow the headlines. In the past two weeks we have seen headlines pointing to a more positive real estate market. From the Huffington Post and other news outlets, 30-Year Mortgage Rates Top 5%. Why is this positive? As interest rates creep up, sooner or later home buyers begin to notice. The sentiment that there is no hurry, that an even better deal will be there tomorrow, begins to slip away. As this article points out, if interest rates rise from 5% to 6% and the price of a home drops from $500,000 to $450,000, the actual cost of the home over 30 years will be $90,000 higher.

From the LA Times, California Luxury Home Sales Jump 21% (even the wealthy like a bargain). And the Wall Street Journal, Cash Buyers Lift Housing, cites data from the National Associations of Realtors indicating 28% of home sales last year were all-cash deals – double the rate in 2008.

Finally, from the LA Times again, Now May Be the Time to Buy a Home. Says the usually pessimistic economist Christopher Thornberg, principal with Beacon Economics in Los Angeles, “Certainly, we’re pretty sure we’re at the bottom” for home prices, as quoted in the luxury home sales article.

What does it all mean? If you are a home buyer, it may be time to step up to the plate. Stories of homes selling in multiple offers are not uncommon. This means you could soon find yourself paying both a higher interest rate for your mortgage and a higher price for your home.

If you are a seller who is buying up, now may be the time to pick up that dream home. And if you are selling because of a personal or financial situation, don’t wait for prices to rise dramatically unless you have a lot of time. During the 1990s, in the LA area,it took 9.5 years for home prices to regain their 1990 peak.

EwingSIR does not guarantee information contained in this blog, readers are encouraged not to rely solely on this information and to do their own independent research of facts contained herein. Blog information was obtained from independent sources that we do not endorse, and we do not investigate this information for accuracy.

sherhann1

All About The Fountainwood Tract of Homes in Agoura Hills, California

By: Rob Jordan

Looking for a mid priced home in Agoura Hills? Take a look at Fountainwood!

Fountainwood is an established neighborhood in Agoura Hills, located on the east side of Kanan Road between Thousand Oaks Boulevard and the LA/Ventura County Line. The tract is approximately 1 mile north of the Ventura Freeway at the Kanan exit.

There are approximately 700 homes in Fountainwood. Many homes back to open space in the nearby hills. Fountainwood is home to Sumac Elementary School and Sumac Park, and is within walking distance of Agoura High School. Two major shopping centers are close by, featuring a Vons, Ralphs, several restaurants, four banks, two drug stores and a host of other retail stores.  Fountainwood homes were built between 1972 and 1981.

Homes in Fountainwood range in size from approximately 1500 square feet to 2300 square feet, with a few custom and larger homes (in particular on Michelle Street at the top of the tract.) Lot sizes are average and many are large enough for well landscaped back yards and pools. Some homes have views. Fountainwood homes are typically 3, 4 and 5 bedroom models, with 2 or 3 baths.

Fountainwood homes are currently priced in the $500,000 and $600,000 range. Approximately 18 homes sold in Fountainwood in 2010. Nearby neighborhoods which are less expensive than Fountainwood included Oak Valley, Hillrise, and some parts of Oak Park. Neighborhoods which are more expensive than Fountainwood include Morrison Ranch, directly west of Fountainwood.

For additional information on Fountainwood, or any neighborhoods in Agoura Hills, Oak Park or Westlake Village, contact Rob Jordan, Sotheby’s International Realty, at 818.237.4425.

(This is one in a continuing series of articles about real estate neighborhoods in Agoura Hills, California. Rob Jordan, Sotheby’s International Realty/Ewing and Associates. 818 237-4425)

EwingSIR does not guarantee information contained in this blog, readers are encouraged not to rely solely on this information and to do their own independent research of facts contained herein. Blog information was obtained from independent sources that we do not endorse, and we do not investigate this information for accuracy.

Rob Jordan

Hosted by the Olive Vineyard & Dos Gringos Food

By: Cindy Nexon

The Olive Vineyard in Agoura Hills has decided to host an hour and a half lesson on how to make and use fresh cheese. It’s a chance to support a local business that is always doing something interesting and creative. Drop by Friday, February 11th at 6:30 pm, to enjoy a tasting menu inspired by cheese. BBQ Pizza and seared Mozzarella with Olive Oil prepared by Dos Gringos Food using The Olive Vineyard’s Olive Oil.

Space is limited, so please call 818.292.8393 or email them by February 7th.

For the full brochure, click here to download.

EwingSIR does not guarantee information contained in this blog, readers are encouraged not to rely solely on this information and to do their own independent research of facts contained herein. Blog information was obtained from independent sources that we do not endorse, and we do not investigate this information for accuracy.

Cindy Nexon

Valentine’s in Westlake Village

By: Sher Hann

Gentlemen, it’s February and Valentine’s Day is just around the corner. What to do? Remember the old adage, Diamonds are a girl’s best friend? Or, in the current economy, let’s say, Jewelry is a girl’s best friend. So here’s an idea for you: Stella & Dot. Enter Jessica Dreyfus, Stella & Dot stylist in Thousand Oaks. Stella & Dot is sold primarily through in-home parties – groups of friends enjoying a glass of wine, munchies and, of course, jewelry. You can also purtchase it directly from Dreyfus (see contact info below). According to Dreyfus, more than half the line sells for less than $50 – a great price point for the quality. For the little Valentine princess in your life, a little girls’ line debuted last year. Says Dreyfus, “I love the versatility of Stella & Dot. I can find one piece that works at the park with my son, out with the girls, and at a spring wedding.” So, gentlemen, perhaps you can get by this Valentine’s Day with only one purchase for less than $50! Contact Jessica Dreyfus (310.351.9652) to make your selection!

EwingSIR does not guarantee information contained in this blog, readers are encouraged not to rely solely on this information and to do their own independent research of facts contained herein. Blog information was obtained from independent sources that we do not endorse, and we do not investigate this information for accuracy.

sherhann1

The China Flat Trail in Cheeseboro Park

By: Denise Arledge

One the fabulous perks of living in Agoura Hills and Oak Park is the close proximity to the Cheeseboro trails. China Flat, one my favorite trails in the area, is the newest addition to the Cheeseboro Canyon/Palo Comado Canyon Site. It sits beneath the 3,000ft Simi Peak, the highest peak in the Simi Hills.

The China Flat Trail, which can be accessed from Old Agoura or Oak Park, is a steep hike with expansive, panoramic views of Simi Valley, Oak Park, and Agoura Hills. From the top, the trail follows the southern perimeter of China Flat.

denisearledge

Denise has over 19 years experience in real estate. She is a consistent top producer & has won numerous awards for her sales, listings & service. She is a resident of the Conejo Valley for over 22 years & specializes in fine homes and estates throughout the San Fernando & Conejo Valleys.

Website - More Posts

Fountain Place Villas “Educator Townhomes”

By: Rob Jordan

60 or 70 local homeowners attended a workshop at Agoura High School on the evening of January 25 to listen to a presentation by the City of Agoura Hills regarding a low to moderate income condo development proposed for a one acre parcel of property on the Agoura High School campus. The workshop was hosted by staff members from the City of Agoura Hills. The project architect was present as well.

Called the Fountain Place Villas “Educator Townhomes” the project would be located at the end of Easterly Road along the east border of the school. The site is located in a Redevelopment District which gives the city certain latitude in deciding what type of a project might be suitable. 16 condos are planned, to be priced in the mid $200,000s. Buyers would need to qualify as low to moderate income households, earning between $40,000 and $82,000 per year. According to the terms of the Redevelopment District agreement, the City of Agoura Hills is required to build up to 40 low to moderate income housing units prior to 2014.

Nearly every speaker was opposed to the project.

Sandra Pope, a local teacher at Willow Elementary and Las Virgenes Educators Association president, spoke in favor of the development, which she said would allow low to moderate income teachers to “live in the district where they work.” Staff members pointed out that there is no guarantee that teachers would have priority to purchase the homes.

The homeowners opposition was centered around several recurring themes, including parking problems in the area, and many called it the wrong development in the wrong location.

Many speakers thought the parcel should be consider for a parking lot, citing the worsening parking situation in the area. The school has recently lost over 100 spaces due to the new performing arts center, and students are being forced to park in residential areas or on streets where parking is not permitted. Some parents said that students are receiving expensive parking tickets daily. Some residents of Annandale, the condominium development across from the school, said that finding street parking on evenings when there was a school event was nearly impossible.

You can’t discuss any development in the area WITHOUT addressing the parking problem was a theme that came up over and over during the evening. The City of Agoura Hills staff specifically said they could not discuss the parking problem, only the proposed development.

Many homeowners thought the idea of building 16 condo units on a one acre parcel was a bad idea, citing the rural nature of Old Agoura, and the one home per acre zoning for existing homes on Easterly. Some speakers pointed out that construction traffic up and down the narrow Easterly Road would cause even more traffic related issues.

Finally, several speakers and one realtor remarked that in the current housing market that there are dozens of low cost condos available for sale in the $200,000 to $300,000 range, and why not just buy some of those and turn them into subsidized low to moderate income housing.

In order to proceed, the Las Virgenes Unified School District which owns the parcel, is considering entering into a long term lease with the City of Agoura Hills, which would pay the school district $1,000,000 total over 65 years. One speaker remarked that it seemed like a bad idea to forever give up one acre of valuable land which might be needed for parking or additional classrooms.

Additional workshops and meetings are planned.

EwingSIR does not guarantee information contained in this blog, readers are encouraged not to rely solely on this information and to do their own independent research of facts contained herein. Blog information was obtained from independent sources that we do not endorse, and we do not investigate this information for accuracy.

Rob Jordan

Spotting the woman in lady face mountain

By: Cindy Nexon

I’ve lived here for 20 years and uncovering the “true” lady face mountain is difficult. I must say, never once have I truly seen it – at least not the way I imagined it to be. However, the Acorn recently ran an article on Ladyface Mountain in Agoura Hills that helps show the face of the mysterious mountain. Take a look at the photos below. They just may help you next time you are in the perfect spot to view Ladyface mountain.

Photos by Iris Smoot and Julien Belmond

Photos by Iris Smoot and Julien Belmond

Photos by Iris Smoot and Julien Belmond

Cindy Nexon

Traffic Ticket Fines

By: Irma Haldane

This is a list of huge traffic ticket fines in California. These Traffic Tickets Fines  are Effective 01/06/2011

Please be extremely careful in your driving and car registration & insurance matters. Effective immediately, if you do not stop at the red light, be ready to pay $436 in fines or if you pass a school bus with flashing red signals, you will be charged $616.

The next time you park in the handicapped zone, even for a minute, you will be looking at almost $1,000 in parking tickets, so it’d better be worth it.

Traffic Ticket Fines (Effective 01/06/2011)

VC 12814.6    $214       Failure to obey license provisions.
VC 14600(A)   $214      Failure to notify DMV of address change within 10 days   Note: The fine may be reduced with valid proof of correction.
VC 16028(A)   $796      Failure to provide evidence of financial responsibility (insurance) Note: This fine may be reduced with proof of insurance on or after the violation date.
VC 21453(A)   $436      Failure to stop at a red signal.
VC 22349        $214      Unsafe speed,  1 to 15 miles over the limit.
VC 22350        $328      Unsafe speed, 16 to 25 miles over the limit.
VC 22450        $214      Failure to stop at a stop sign.
VC 22454(A)   $616      Passing a school bus with flashing red signals.
VC 23123(A)   $148      Driving while using a wireless phone not hands free, first offense .
VC 23123(B)   $256      Driving while using a wireless phone not hands free, each subsequent offense.
VC 23123.5     $148      Driving while using a wireless device to send, read or write text.
VC 23124        $148      Minor driving while using a wireless phone.
VC 22500        $976      Parking in a bus loading area.
VC 22507(A)   $976      Violation of disabled parking provisions, first offense.
VC 22507(B)   $1876    Violation of disabled parking provisions, second offense.
VC 26708        $178       Unlawful material on vehicle windows.
VC 27150        $178       Adequate muffler required.
VC 27315        $148       Mandatory use of seat belts.
VC 27360        $436       Mandatory use of passenger child restraints.     Note: This fine may be reduced by completing a court authorized child seat diversion program .
VC 27400        $178       Headsets or Earplugs covering both ears.
VC 27803        $178        Violation of motorcycle safety helmet requirements.
VC 34506        $616        Commercial Driver – Log book violation.
VC 4000          $256        No evidence of current registration. Note: The fine may be reduced with valid proof of correction.
VC 4159          $178        Notify DMV of change of address within 10 days. Note: The fine may be reduced with valid proof of correction.
VC 5200          $178         Proper display of license plates. Note: The fine may be reduced with valid proof of correction.
VC 9400          $178         Commercial weight fees due.

EwingSIR does not guarantee information contained in this blog, readers are encouraged not to rely solely on this information and to do their own independent research of facts contained herein. Blog information was obtained from independent sources that we do not endorse, and we do not investigate this information for accuracy.

Irma Haldane

Irma Haldane, estate agent at Ewing & Associates Sotheby's International Realty, represents buyers and sellers throughout the West San Fernando, Conejo and Simi Valleys with specialization in Agoura, Thousand Oaks, Woodland Hills, West Hills, Camarillo and Westlake Village.

Website - More Posts

Real Estate 2010

By: Rob Jordan

More homes sold in 2010 vs. 2009. Buyers concluded that current prices are attractive, jumped in and bought at sharp prices (and at low interest rates.) Buyers think that in the long run, today’s prices have nowhere to go but up. Sellers came to the conclusion that prices aren’t going up any time soon, and those Sellers that needed to sell decided to sell now not later. (Sellers, please remember: even if you get less when you sell, you get more when you buy.) Many Sellers sold their homes as short sales (for less than owed.) Often this process is a long one, but eventually these homes sell. Also, homes that were formally foreclosed upon by banks end up as homes listed for sale, which increases inventory and sales volume.

While volume was up, prices remained under pressure, in particular in the over $1,000,000 range. Under $500,000, prices in many areas have stabilized, with lots of buyers (and investors) buying lower priced homes. Nobody is predicting that prices will increase dramatically in the short term. Over 5 or 10 years real estate is likely a good investment. Trying to flip in the next year or two? Not likely. Thinking you’ll get 5% more for your house next year? Also unlikely. Sell now if you need to sell.

The average time required to sell homes increased a bit, to between 3 and 4 months. I think this is mostly a function of the long time it takes to conclude a short sale. Normal sales conclude more quickly than short sales, generally in 1 to 2 months.

What’s going to happen in 2011?

I think prices are going to stay flat at best, or drift down at worst. Several items put pressure on prices: 1) Interest rates may rise, making it harder for buyers to qualify for higher loans. 2) More foreclosures are coming, depressing average prices. And while the Conejo Valley is likely more healthy than many areas in California and the nation, the overall economy is sluggish at best, which limits inflation.

What should you do right now?

•    If you need to sell… do it earlier rather than later. It’s possible to get top dollar. Let’s promote your home furiously and find that one buyer willing to pay you top dollar.

For one past client, I achieved the highest sale in the neighborhood. We had
5 offers and sold in less than a week for $29,000 OVER asking price. Furious initial promotion was the key!

•    If you’re a homeowner in trouble… take action now. Don’t let a bad situation get worse. You have options and I can lay out your choices for you.

•    If you want to buy… do it sooner rather than later. Interest rates may go up; qualifying (particularly FHA) is becoming harder. You have more buying power now.

•    If you’re a landlord with property to lease… let’s price it sharply and promote the heck out of it. It’s better to land a tenant now at slightly reduced rent, than to have your home sit empty for months. There are fewer homes for lease now than in the past.

•    If you’re a tenant wanting to rent… there are lots of choices in all price ranges. I’m aware of properties that are not on Craig’s list or in the newspaper.

•    If you have a dangerous loan… refinance promptly. I can give you several sources who can help you.

EwingSIR does not guarantee information contained in this blog, readers are encouraged not to rely solely on this information and to do their own independent research of facts contained herein. Blog information was obtained from independent sources that we do not endorse, and we do not investigate this information for accuracy.

Rob Jordan