Author Archive for margomurray Archive Page
Lowest interest rates are they to stay?
0 Comments Published by margomurray January 3rd, 2010 in Real Estate in South Orange County, Rancho Santa Margarita Real Estate, Housing Economy, Real Estate Advice, California Real Estate, Buying a home, Should I buy a home?, Is this the right time to buy a home?. by margomurrayHappy New Year.
As we end 2009 we can look back at some of the lowest rates ever in the mortgage markets. This weeks rates are up by .375% from two weeks ago and are expected to rise during the first quarter and again each quarter through the end of 2010. We are coming to the end of lowest rates ever as the 10 year treasury bond yields are now hovering at 3.85% today very 3.22% last month. Nevertheless, rates in the high 4’s and low 5’s are still incredible!!!!!! We are spoiled with low rates and our expectations of mortgage rates in the 4’s are unrealistic. When rates are this low we all receive low interest pay out for our savings accounts and CD’s. Investors want a higher yield when they are buying bonds (which fuel the mortgage markets). So, we must accept that rates in the 5’s and 6’s is normal for mortgages and will still provide a great lending platform for people to purchase homes
New Year’s Events and Parties Guide
0 Comments Published by margomurray December 31st, 2009 in Social Events. by margomurrayStill not sure what you like to do on New Years Eve?
http://events.orangecounty.com/holidays/new_years_eve
Have a save and wonderful 2010
9th Annual Family and Friends New Year’s Celebration
0 Comments Published by margomurray December 31st, 2009 in Social Events, Lifestyles, Community Rancho Santa Margarita, Rancho Santa Margarita Real Estate. by margomurrayThe City of Rancho Santa Margarita will be hosting the 9th Annual Celebrating Family and Friends New Year’s Eve event 4:30-9:30 p.m. in Central Park on Thursday, Dec. 31st. This alcohol-free celebration will include entertainment, food booths and fun for the whole family. Admission is free! Stop in and see the Children’s Art Contest in the hallways of the Bell Tower Regional Community Center. The Center will feature drawings, collages, and fiber work from children throughout the community. It’s not too late to enter!
Celebrate the New Year with your family and friends.
Hope to see you there!
Fantastic Mom’s Club of Rancho Santa Margarita Website
0 Comments Published by margomurray December 10th, 2009 in Community, Lifestyles, Community Rancho Santa Margarita, Community Coto De Caza. by margomurrayRancho Santa Margarita’s Holiday Lighting Tour
0 Comments Published by margomurray December 7th, 2009 in Rancho Santa Margarita Real Estate. by margomurraySanta’s Workshop in Rancho Santa Margarita
0 Comments Published by margomurray December 4th, 2009 in Community, Community Rancho Santa Margarita. by margomurrayRancho Santa Margarita’s 2009 Holiday Lighting & Decorating Competition
0 Comments Published by margomurray December 2nd, 2009 in Community, Community Rancho Santa Margarita. by margomurrayWelcome the holiday season by decorating the front of your home with holiday lights! This year will be the third season SAMLARC will offer the Annual Holiday Lighting & Decorating Competition for residents. Judges from the Neighborhood Outreach Committee will be looking for creativity and showmanship while determining the best holiday spirit in the SAMLARC community. SAMLARC residents are able to enter as an individual home or as a neighborhood participant.
Categories of Competition:
Individual and Neighborhood Home Awards:
Best Use of Lights
Best Use of Theme
Best in Original Design
Best Design in an Apartment or Condo
Most Energy Efficient
All winners will have photos of their designs featured in the January/February issue of Rancho Living. Signs will also be placed in front of the winning homes/neighborhoods and certificates will be issued.
How to Register:
Applications will be available Tuesday, November 10, for pick-up at the SAMLARC Business Office at 22342A Avenida Empresa, Suite 102A, Rancho Santa Margarita. Applications can also be downloaded at www.samlarc.org.
Applications must be returned to the SAMLARC Business Office no later than 5:00 p.m. on Friday, December 4, to be valid for entry.
Dates of Competition:
Judging is conducted from Wednesday, December 9, through Sunday, December 13. Winners will be announced by 5:00 p.m. on Friday, December 18, on www.samlarc.org. If you have any questions, please contact Susy McKellar at 949.209.5086 or smckellar@meritpm.com.
For a Holiday Lighting and Decorating application, click here.
Rancho Santa Margarita Market update December 2009
0 Comments Published by margomurray November 29th, 2009 in Rancho Santa Margarita Real Estate, Housing Economy, Real Estate Advice, Purchasing a Home, home purchase. by margomurrayLOST IN TRANSPARENCY
Big changes are coming to the mortgage industry as of January 1st, 2010; most at the cost of the borrower.
Attempting to add “transparency” and increased disclosure to the borrower in a mortgage transaction, HUD has officially implemented the new 2010 Good Faith Estimate. Please hold the applause. And what goodies will the borrower get with the new 2010 Good Faith Estimate:
- A new and improved 3 page Good Faith Estimate adding two more documents to read. The old 1 page document that clearly listed fees, rate, payment, and cash to close was just too confusing for those that didn’t complete grade school.
- Have your pencils ready. The new Good Faith Estimate has a scratch pad were you can compare rates and fees from different lenders; or just doodle. Simply putting different Good Faith Estimates from different lenders side by side was too complicated.
- Your monthly mortgage payment is in bold print. The payment will include principle, interest, and any mortgage insurance. However, the payment will no longer disclose property taxes, homeowners insurance, or HOA dues. TOO much information. The disclosed monthly payments in bold will now leave the borrowers feeling warm and fuzzy because it appears so low. Surprise; it is.
- And finally, HUD didn’t want to burden the borrower with knowing how much money they would need at closing. Keep your pencils out; you will have to do the math yourselves.
The new HUD approved 2010 Good Faith Estimate will be disclosed by a mortgage company near you starting January 1st, 2010. Also, changes in yield spread premiums are likely to be implemented come January 1st, 2010 which will ultimately lead to higher fees to the borrower.
Best Hiking spots near Rancho Santa Margarita - County Wilderness Parks
0 Comments Published by margomurray November 25th, 2009 in Talega Real Estate, Exercise in Rancho Santa Margarita. by margomurraySTARR RANCH SANCTUARY
Audubon’s Starr Ranch Sanctuary is a 4,000-acre nature preserve adjacent to
M-Su Year Round (By Reservation Only) 7:00 a.m. to overnight
Location Adjacent to
Information 949.858.0309 or www.starr-ranch.org
O’NEILL
This park offers a true wilderness experience among its 3,100 acres of scrub-covered hills, oak and sycamore trees and grassy meadows. The office off
Live Oak Canyon Road
M-Su Year Round 7:00 a.m. to sunset
Location 30892 Trabuco Canyon Road,
Information 949.923.2260 or www.ocparks.com
This 523-acre wilderness park has miles of trails offering outdoor enjoyment for hikers, equestrians and mountain bikers, including two seasonally flowing creeks plus groves of sycamores and oaks. The ranger station houses a visitor center, a hands-on classroom, and volunteer-operated gift shop. Surrounding the station is a one-acre native-plant butterfly garden and a large deck for picnicking or just enjoying the views. Ranger-led programs as well as self-guided hikes provide opportunities for the visitor to learn about the richness of this sanctuary.
M-Su Year Round 7:00 a.m. to sunset
Location 30952 Oso Parkway, Coto de Caza
Information 949.923.2265 www.ocparks.com
Dramatic 100-foot sandstone cliffs and coiled red-rock formations distinguish this 1,800-acre park. Tree creek beds wind along a canyon floor densely forested with sycamore and oak trees inhabited by diverse wildlife. Hikers enjoy 20 miles of trails and ranger-led nature walks for groups are available by reservation. In addition to mountain lions, there are rattlesnakes and poison oak in the park, so caution is advised. Mountain lion attacks have occurred at Whiting Ranch in the recent past, so extreme caution is advised. (Check the website for tips on preventing mountain-lion attacks.) Dogs are not allowed.
M -Su Year Round 7:00 a.m. to sunset
Location Off
Portola Parkway
Glen Ranch Road
Information 949.923.2245 or www.ocparks.com
First Time Home Buyers Program Extended, Expanded & Signed!
0 Comments Published by margomurray November 13th, 2009 in Rancho Santa Margarita Real Estate. by margomurrayThe federal tax credit for home buyers has now been signed into law! President Obama signed the extension and expansion of the home buyer tax credit into law last Friday, November 6th. This extends the tax credit that would have expired on November 30th and further expanded it!
The tax credit is now extended, pushing the December 1st deadline through till May 1, 2010. This is an $8,000 tax credit that is available now for first-time purchasers through April 30th, 2010.
Second, added to this bill is a new $6,500 tax credit for repeat buyers who purchase between December 1, 2009, and May 1, 2010. For those buyers who have used their home being sold as a principle residence consecutively for 5 of the 8 years, they will be able to receive the new $6,500 tax credit.
Both tax credits are given an extra 60 days to close if they are in binding contracts as of April 30, 2010. Also, the income limits have been expanded to $125,000 on a single return and $225,000 on a joint return. Taxpayers can claim the credit on purchases completed in 2010 on their 2009 income tax returns, still maintaining that buyers do not have to repay the credit provided the home remains their primary residence for 36 months after purchase, with exemption for military personnel who move because of military orders.
Again, this is an incredible time for home buyers to take advantage of purchasing their first or new home in Rancho Santa Margarita. For information on buying or selling your Rancho Santa Margarita Home please feel free to call me at (949) 858-1770 or email me at margo@margomurray.com.
Your neighborhood realtor since 1988,
Margo Murray
