September 2010 RSS Feed

The San Clemente Woman’s Club and the City of San Clemente will present the 11th Annual Benefit Antique, Estate Jewelry Show and Sale on Saturday, October 9, 2010 from 9:00am to 3:00pm at the San Clemente Community Center.

The show will include an appraisal clinic and door prize drawings.

For show information call (949)481-5357. For dealer information call (949)361-0069.

Orange County residents can now breathe a sigh of relieft now that Congress has unanimously approved a one-year extension, until Sept. 30, 2011 for the National Flood Insurance Program (NFIP).

The bill now heads to the President for his signature as early as this week. With program authority now extended for a year, it is expected that attention will now turn to proposals to reform and ensure the financial soundness of the NFIP. While the House passed its reform bill (H.R. 5114) earlier this year, it is unlikely that a comprehensive reform bill will move until the 112th Congress goes into session next year.

Home sales will remain soft in the months ahead, but improved affordability conditions should help with a recovery, according to the National Association of Realtors. The recovery looks to be a long process with job numbers being lower than expected in the last couple of months. However, affordability could reach a generational high in the second half of this year because of rock-bottom mortgage interest rates. The loan underwriting standards are tighter, but home buyers can improve their chances of getting a loan by staying well within their budget.

Let’s take a look at the San Clemente real estate market for August.

San Clemente Real Estate Sales Statistics - August 2010 (92672 Zip)

Homes Sold:  23
Change from August 2009: -46.5%

Median Sales…

Home sales will remain soft in the months ahead, but improved affordability conditions should help with a recovery, according to the National Association of Realtors. The recovery looks to be a long process with job numbers being lower than expected in the last couple of months. However, affordability could reach a generational high in the second half of this year because of rock-bottom mortgage interest rates. The loan underwriting standards are tighter, but home buyers can improve their chances of getting a loan by staying well within their budget.

Take a look at the August 2010 Orange County real estate sales statistics as reported by DQNews.com:

Dana Point Real Estate Sales Statistics - August 2010
(92624 Zip)

Homes Sold:  9
Change from…

Mark your calendars for the Dana Point Historical Society's 11th Annual Home Tour scheduled for October 3, 2010, 11:00am to 4:00pm.

Take a stroll along the Street of the Blue Lantern and Valencia Place  in Dana Point to visit homes and gardens that are open for the Tour. There are homes of both historic and contemporary architectural styles and an exotic garden of palms.

The charming Blue Lantern Inn will be open for a visit to the lobby, sun room and one of the lovely suites and, then, stop in the Gazebo to enjoy the view.

The Signature Home on this year’s tour is a split level Spanish Colonial Revival home built in 1930 and is a City of Dana Point Historic Woodruff Home.  A large patio above the garage allows expansive ocean views to the …

Want a better mortgage rate when closing on your Orange County real estate?  Think about moving the closing date up.

A rate lock is a contract.  No matter what the “current market rate” is at the time of closing, the bank will honor the terms of the original rate lock.  It would be like agreeing to buy stock in Google 60 days from now at a specific price.  No matter what the price, you already know what you’re paying for it.

So rate locks are simply predictions about the future.  It makes sense then that the longer the period of the lock, the more inherent risk is assumed by the lender.  To compensate for this “time risk”, lenders typically charge a slightly higher price.  A 15-day lock is the best pricing available and every 15 days added to that lock…

Congress has authorized FHA to change the amount charged to borrowers for both the Up Front and the Annual Mortgage Insurance (MI) premiums. These changes as outlined in Mortgagee Letter 2010-28, are effective for all FHA case numbers assigned on or after October 4th, 2010.

Here are the six things you need to know about these changes if you are buying a San Clemente home:

 

1. The MI premium changes apply to purchases, regular refinances and streamline refinances only (reverse mortgages have different MI premium changes).
   

2. The current Up Front MI premium is 2.25% of the loan amount and the new Up Front MI premium will be 1.0% of the loan amount for all standard FHA programs.
   
   
3. The current …

Recently, the Internet has been a buzz with debates centered around the value of owning a home in Orange County versus choosing to rent in the current economy.

Regardless of which side the debaters take, the dialogue itself reveals how personal our ideas about homeownership can be and how significantly it factors in our lives. As these online discussions reveal, life stages, financial situations, and lifestyle preferences are all factors that people consider when deciding rather to rent or own.

People who may be moving within a few years may want to consider renting as an option, until they’re ready to settle down in a specific community. However, as individuals take steps toward raising families and growing a nest egg, Orange County home ownership…

Enjoy a beach day at the 23rd Annual San Clemente Seafest held on Sunday, October 10. 2010.

The Seafest features a Chowder Cook-off, Fisherman’s Lobster, T. Patterson Surf Shop, Business Exposition, Arts & Craft Show, Entertainment provided by the Gemtones and a U.S. Coast Guard Search & Rescue Demo Operation all taking place at the historic San Clemente Pier area.

There are five tastes per ticket and tickets cost $6.00. Chowder tasting begins at approximately 10:00 a.m. and concludes at approximately 2:00 p.m.

Admission free. Park for free at San Clemente High School, 700 Avenida Pico and take a free shuttle.

More information can be found at San Clemente Seafest. To enter a chowder team or for other information, call the Chamber of Commerce at…

The San Clemente Chamber of Commerce hosts the 20th annual “Original Taste of San Clemente" at the beautiful Talega Golf Club, 990 Avenida Talega on Friday, November 5, 2010 from 6:00 pm to 10:30 pm.

There will be culinary masterpieces from over twenty of the areas finest and newest restaurants, as well as sixteen premium wineries from throughout California, ice cold Microbrews and more.

Dancing under the stars will feature a fabulous, premier 5-piece band, The Corvettes, who play rock and roll, doo-wop music from the mid-50's through the late 60's.

The event begins at 6:00 p.m. and concludes at 10:30 p.m. Tickets are limited to 250 guests. The ticket price includes a complimentary "Taste of San Clemente" wine glass or beer mug, food, wine,…