Housing Trends – May 2018
It’s not just the weather that’s heating up as we move into spring. The cost of a newly constructed home is rising as the housing market enters its peak buying months.
With exception of a minor hiccup in hiring last month due to unseasonably cold weather in other parts of the country, our national economic 
condition has seen much improvement since the dark days of the so-called “Great Recession” that reared its ugly head in 2008.
“But what does this have to do with mortgage interest rates?”, you may ask.
Interestingly enough, it all ties in together. Banks and mortgage lenders borrow money from the Federal Reserve who sets a “wholesale” base borrowing rate for lending institutions. From there, consumers are charged a “retail” rate that is usually a few points above (Based on credit rating, etc.).
In this article, we’ll talk about two very distinct Santa Clarita Valley communities that aren’t actually part of the City of Santa Clarita, BUT…They’re
still a very big part of the valley and the Santa Clarita experience.
Prior to the invention of the automobile, the Santa Clarita Valley was a fairly remote place to live. To get to the San Fernando Valley or Los Angeles, you had to squeeze your wagon through Beale’s Cut, and pay a fare to do so…not an easy trip!
Have you ever wondered what it would be like to enhance your income through real estate? Maybe you rented a home from someone who owned several, and they 
always seemed like they were “rolling in it.” Or perhaps on a sleepless night, you tuned into an infomercial extolling the virtues of owning property as an investment.
We’ve seen an interesting year in real estate, with property values once again resuming their climb after losing ground during and immediately after the great recession that struck our economy a half decade ago. With that, our minds begin to imagine all the wonderful things that can happen with positive equity…and positive cash flow.
Who doesn’t love good barbecue?
The Los Angeles County Sheriff’s Department is once again hosting the 3rd Annual Summer Showdown Barbecue Competition that will raise funds for the non-profit 
group, 999 For Kids.
This event will be held at the Jack Bones Equestrian Center in Castaic, and is expected to draw huge crowds. Aside from the barbecue competition, visitors can expect to be treated to booths, games, vendors, live music and a special “kids zone” for children.
999 For Kids is a non-profit group that helps physically and mentally disabled children who were victims of abuse, neglect, and family violence. The program raises funds that help ourchase special items and services for these children such as sport wheelchairs, computers, special education classes, medically-oriented toys and games. Additionally, a Christmas Party sponsored by the Training Bureau and an Ice Cream Social Awards Ceremony sponsored by the Special Victims Bureau are held annually. You can find more information on the 999 for Kids program by clicking here.
For the past several years, The Beach Bus has operated in and around the Santa Clarita Valley, transporting “SClaritans” to and from Santa Monica Beach the day. This year, it returns to service beginning June 7th through August 31st.
Offered by Santa Clarita Transit, The Beach Bus operates every Saturday and Sunday between June and August, picking up residents at various stops throughout the Santa Clarita Valley, with it’s final pickup location being at the Santa Clarita Transit station located at the corner of Valencia Blvd. and McBean Parkway. From there, passengers are taken to Santa Monica Beach, arriving just after 10AM. Passengers can then spend the day at the beach, or take in the sights at the 3rd Street Promenade. The bus returns to depart from Santa Monica Beach at 4:30 for the return trip to Santa Clarita.
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HARP is designed specifically to help borrowers who may be ineligible for traditional refinancing due to loss of home value or because they have little (or no) equity. Like other refinancing options, with HARP you receive a completely new mortgage with new terms, interest rates and monthly payments. The new loan completely replaces your current mortgage and may lower your payment, which could help improve your monthly financial situation.
HARP may be an option if:
You are current on your mortgage payments (and haven’t been late in the last 6 months)
Your home value has decreased
Your first mortgage exceeds the current market value of the home
(i.e., loan-to-value)
Your loan is owned by Fannie Mae or Freddie Mac