When it comes time for you to buy a home in the Santa Clarita Valley, you will either choose to buy a resale home, or a new construction home, from one of the builders. Currently, Lennar and Pardee are building homes in the Santa Clarita Valley. They have various new home communities. Some of the Santa Clarita new homes can be found here.

If you choose to buy a new home, you should bring a Realtor along, so they can represent you in the purchase of that home, throughout the escrow. It's up to the builder to cooperate with Realtors/Brokers. Currently the main builders in Santa Clarita do cooperate with Realtors. That's because a large percentage of their sales are a direct result of Realtors' clients coming in and buying their homes. So it makes sense for them to do so. You don't pay a dime, for a Realtor to represent you in the purchase of a new home. It's free and you get all of the benefits. Afterall…doesn't it sound smart to have a third party, simply someone other than the seller, to be looking out for your best interest, and have a fiduciary obligation to you? Sure it does.

We think the people who work for the new home builders, in our experience are very hard working, and honest people. And to tell you to hire us, or any Realtor to represent you in a brand new home purchase, of course sounds self-serving. Common sense will tell you however that it's only obvious that when buying brand new homes, the builder (aka seller), has someone working on their team – the SALES STAFF. Don't you want someone to work on, YOUR TEAM? 

Watch our SCVRealEstate360 Show episode here, and listen in as Brian discusses the issue…enjoy!

Top 10 Reasons You Need A Realtor When Buying Santa Clarita New Construction Homes:

1) Do you prefer that the person/company selling you a home be the sole entity looking out for your best interest and financial investment? NO WAY.

2) Would you like to have an impartial 3rd party who is knowledgeable about the pro's and con's of the community and surrounding area, give you their professional opinion prior to committing a deposit? YES.

3) Wouldn't you prefer to have a professional Realtor so they can assist in the handling of any and all paperwork the builder needs signed prior to closing, for instance during those busy times when you or your significant other can't get to the community due to work, family , and other pressing issues? YES.

4) Do you feel comfortable reviewing by yourself closing costs statements and estimates that your lender and escrow are going to be providing you? PROBABLY NOT.

5) Don't you think it would be nice to have someone who sells homes EVERY month, to be there for you to catch any mistakes the builder may make during the escrow process? OF COURSE.

6) Do you feel that you will remember all of your rights granted in the sales contract and be sure that any and all disclosures will be fully understood? NOT LIKELY.

7) The new home community you buy from is likely staffed with about 2 or so employees in the sales office to handle day to day sales & problems with people who are currently buying, and for those who have just closed – moved in – and found problems with the home physically. Don't you think they may be a little burdened already to really focus a 100% of their efforts on just you? MORE THAN LIKELY.

8 ) Don't you think that it would be nice to establish a relationship with a local Realtor who is knowledgeable about the community and the business itself, so that when you are eventually ready to sell or buy another home, you have a connection in the business who wants to make you successful? YES.  

9) During the building process, wouldn't it be nice to have your Realtor press the new community to take action on any outstanding issues, give you frequent updates on progress, and let you know what expect in the coming days, weeks, and months? YES.

10) Can you come up with a good reason why you don't need professional representation when buying your new home, and for some of you, your first home? PLEASE EMAIL ME IF YOU CAN! 

Big news for Newhall Land. Looks like there may be some happier days ahead as a press release just issued from Lennar, noted that "LandSource to Emerge from Chapter 11 as Newhall Land Development." Check out the press release regarding the newly reorganized Newhall Land Development. Click this link here: http://bit.ly/bcKmL

I wonder how this will affect the development of Newhall Ranch?

The Robert and Brian Team

Call us @ (661) 964-1760 for immediate Santa Clarita Real Estate assistance!

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Posted via email from The SCV Agents Team

In a letter to the public, dated June 8, 2008, Newhall Land issued a statement regarding the decision LandSource Communities Development LLC  made “today” to voluntarily file for Chapter 11 of the bankruptcy code, in order to restructure their debt.

Newhall Land maintains that they will survive this downturn, and is confident that they will be strong as ever once a better real estate market returns. How did Newhall Land get in such a precarious position? Per their email tonight…”We – just as virtually everyone throughout the nation – have been affected by changes in the housing market and the resulting decline of land and home values.”

Take a look at the contents of the letter below:

“Dear Friends, As you may have heard, LandSource and certain of its subsidiaries today voluntarily filed to restructure their debt under chapter 11 of the Bankruptcy Code. 

Newhall

Land is included in the filing.  Because of our relationship with you and the members of the community, we wanted to let you know what this means – and does not mean – for

Newhall

Land.  First and foremost, it does not mean that we are going out of business.  Chapter 11 provides a legal means for companies to reorganize their debts so they can continue in business.  And that’s exactly what we intend to do.Newhall

Land has weathered fluctuations and retrenchments in both the

California and national real estate markets before.  We have every intention not only to survive the current real estate downturn, but to flourish once the market stabilizes.  LandSource has received commitments for debtor in possession financing from Barclay’s Bank, including a $135 million revolving line of credit.  This post-petition financing assures that there will be no interruption in day-to-day operations.

You may be asking yourselves how we came to this difficult juncture.  The answer is relatively simple.  We – just as virtually everyone throughout the nation – have been affected by changes in the housing market and the resulting decline of land and home values.  When the company was unable to meet the debt covenant obligations under its credit facilities, the decision was made to file chapter 11, enabling the company to access additional working capital and modify its debt while continuing to operate its ordinary course of business.

 We believe chapter 11 provides the best, most effective means for LandSource and its subsidiaries to preserve the value of their business, meet postpetition obligations, and maintain constituents’ confidence while it works with creditors to achieve a long-term restructuring.  Our ability to succeed is dependent upon your confidence in us, and we took this step, in part, as a means to safeguard that trust. We will make every effort to keep you fully informed of developments relating to our progress.

If you have particular issues you would like to discuss, please feel free to call us at (661) 255-4000.”

This weekend, on May 3rd only, Lennar’s new home communities in Valencia, West Hills and West Creek, will be have a “Super” special. They will have extended hours between 9am, to 9pm to accommodate the hopeful demand.

Along with a drawing to win thousands of dollars in prizes, including $50,000 in furnishings, they are touting a few note worthy deals to lure you in:

* Interest Rate Deal (if financed through UAMC):

2.88% fixed for 1 year

3.88% fixed for 2nd year

and 4.88% fixed for remaining life of loan, for loans up to $362,790 only (FHA loan limit) (Anything above is considered Jumbo FHA Loan and have higher interest rates).

* Fees Deal (if financed through UAMC):

$0 Mello Roos (thought they started calling these CFD’s!?) for 2 years

$0 HOA fees for 2 years

$0 Closing costs

* there are some other restrictions that apply to these deals

Contact Robert Mickalson for details, and if you’re interested in viewing any of the Lennar communities in Valencia that these deals apply to.

A large hurdle has been cleared, now that the Los Angeles Regional Planning Commission has approved Newhall Land and Farming Co.’s first phase of Newhall Ranch, called Landmark Village.

Apparently there was a bit of a ruckus downtown, as environmentalist weren’t too happy, as they thought their protest, and objection to this approval, would fall on deaf ears. The Planning Commission heard from Lynne Plambeck, but I doubt they listened. Lynne Plambeck, president of SCOPE (Santa Clarita Organization for Planning and the Environment), led the opposition.

Opponents of the Landmark Village approval, claim that there isn’t sufficient water resources to support the new community of homes that Newhall Land & Farming Co. have planned for. Of course, Newhall Land, and the Los Angeles County Regional Planning Commission don’t believe so. There was no new substantial evidence to support a reconsideration of the environmental impact report (EIR) according to the commission, that’s been in circulation for about a year or longer now. Newhall Land has stated that it’s done all it can to ensure the area will have sufficient water supply, they even purchased water from other sources, and plan on banking the water for years that are more dry.

This wasn’t the last hurdle for Landmark Village however. Now that the commission has done it’s job with Landmark Village, it’s sent over to the Board of Supervisors for consideration now and their approval, although there isn’t any indication as to how soon the issue will be heard in that forum. Yet again, the figures at SCOPE, and other ”environmentally” friendly organization will have another chance at being heard, and try to stop, what I feel is the inevitable. They planned on protesting yesterday’s Planning Commission meeting by putting applying blue duct tape to their mouths, to symbolize the fact their voice wouldn’t be heard on the issue, even though the public has previously had ample amount of time to voice it’s concerns.

Newhall Land appears confident that they will receive approval from the Board of Supervisors, due to the fact they have presented a consistent case for the new community, which at it’s tail end, may encompass about 21,000 new homes to the Santa Clarita Valley.

In accordance with the City of Santa Clarita’s agreement with the county, to be part of the Consolidated Fire Protection District, the Council will vote, as required in the agreement, to “update” the Developer fee and Fire Station. In November 2007, The Los Angeles County Board of Supervisors voted to increase the fee for the unincorporated areas of Los Angeles County from $.7946 per sq ft to $.9341 per sq ft. That represents an approximate 17.5 % increase developers will have to front. That fee gets transferred to the county. It goes to help support the costs of acquisition of land, and construction of fire stations on that land.

Developers face a whole slew of development fees from both city and county jurisdictions, fees that often get calculated into the housing price.

The public hearing for this item will be  Tuesday January 8th. I’d expect no public comment, or developer comment on this one!

Click HERE for the detailed Santa Clarita City Council agenda item regarding this item.

Next week, on Wednesday January 9th, the Los Angeles County Regional Planning Commission will give their final vote on the Newhall Ranch first phase, called Landmark Village.

The following is the bulk of what Landmark Village will consist of:

Here’s a nice view of the two rather large new home projects underway (or on hold per another local real estate blog) in Valencia, West Creek and West Hills, by Lennar.

I wonder when all that carved out dirt, will turn into fine suburban architecture, in this real estate market? Apparently (I haven’t verified) West Hills Mosaic, West Hills Patina, and the Claridad community at West creek are on hold right now, with no date set to continue the development of the project. It’ll look like this for a long time to come possibly! I think I’d rather view it as it used to be, undisturbed dirt without form or shape, maybe a few weeds and bushes too. Hindsight is 20/20 though, Lennar/Newhall Land didn’t know the market would be this dry, you can’t blame them for wanting to develop their own land. Just bad timing. One thing is certain, homes WILL be there, it’s just a matter of when.

On Tuesday, November 26, the Santa Clarita City Council will likely approve the third phase of the Valencia River Village tentative tract map no. 53425. This new phase (53425-03) will consist of homes, roads, trails, and amenities such as a large park.

This new phase of River Village will create 281 total lots.

The Break Down:

219 single-family residential lots, 1 recreation site lot, 35 open space lots, 1 private and future street lot, 5 City river trail lots, 2 City public park lots, 1 City lot, 1 water quality/debris basin lot, 15 private driveway and fire lane lots, and 1 Valencia Water Company lot.

About: 

River Village, located in Valencia off of Newhall Ranch Road, near the Bouquet Canyon intersection, is expected to have approximately 1,089 new homes in total, of which 432 will be single family homes, and the remainder attached homes, such as townhomes.

The third phase of River Village, not to be confused with phases they sell/release homes in, is on a total of 129 acres of land, owned by Newhall Land Company. River Village is currently selling homes within the community, at Brookville, and in Heirloom.

It will be the city staff’s recommendation that the third phase final tract map be accepted and adopted.

CLICK BELOW FOR:

River Village Valencia Phase 3 Tract Map Facts - PDF

Questions? Comments? Insights?

Remember…when buying or selling Santa Clarita real estate, call me 1st.

Robert Mickalson, Realtor

Vintage Sotheby’s International Realty

661.219.2260 or 661.373.2374

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