History of San Clemente - "Then and Now"

 OCCOASTPROPERTIES reports:

History of San Clemente - "Then and Now"

San Clemente - The town started as a dream of Ole Hanson who called it the “Spanish Village by the Sea:. The city was incorporated February 21, 1928

Ole Hanson

San Clemente - Vision - Circa 1928

Facilities in the new city included a Community Clubhouse, Beach Club, horse trails, golf course and club, hospital, municipal water works, pier, well-designed streets, baseball park, the beach and several parks.

In 1928, San Clemente had about 200 homes ranging from $2,000-$75,000 in price with most at the low end of the scale. All buildings in town were Spanish-style white stucco with red handmade tile roofs.

In 2011, OCCOASTPROPERTIES – Steve Mino and Natalie Vizir, report that San Clemente is now home to over 68,000 plus residents and over 25,000 homes with an average value price of just over $600,000 according to city census. Talk about growth! Click for San Clemente Homes for Sale

San Clemente Pier View Circa 1928

San Clemente today!

One of the most lavish patios was at Ole Hanson's house, now Casa Romantica. Mr. Hanson had a large lagoon and fish pond in the center, wall panels and mural decorations, barbecue pit, small side patios and a dance floor. Art objects included china elephants, helmets, breast plates, coats of mail and Chinese wicker furniture. The main entrance was decorated with potted plants, hanging baskets of ferns and a fountain. Today it is a major tourist attraction and used for many weddings.

Casa Romantica today!

Casa Romantica circa 1929

The city attractions include the popular beaches that include the world famous “Trestles” surf spot located in the prestigious Southwest San Clemente area. The main street that runs through San Clemente is El Camino Real. The towns major source of income comes from the major business, hotels and  local specialty shops that service the area. One of Natalie Vizir’s favorite streets is the quaint street of Del Mar! Del Mar is of the major tourist attractions offering fine dining, entertainment, local history and is definitely a major part of San Clemente’s charm. Del Mar also leads you to the famous San Clemente Pier.

Del Mar Street circa 1929

Del Mar Street today!

World Famous "Trestles"

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Century 21

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Natalie: 949-300-5074

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The Western White House - San Clemente, CA

OCCOASTPROPERTIES reports on:

Nixon's "Western White House"

1925, Ole Hanson, with the financial help of a syndicate headed by Hamilton Cotton, purchased and designed a 2,000-acre community along the Southern California Coast line. Hanson believed that the area's pleasant climate, beautiful beaches and fertile soil would serve as a haven to Californians who were tired of "the big city".

In 1968 President Richard Nixon bought part of the H. H. Cotton estate, one of the original homes built by one of Hanson's partners. Nixon called it "La Casa Pacifica", but it was nicknamed the "Western White House". It sits above one of the West Coast's premier surfing spots, Trestles, and just north of historic surfing beach San Onofre. During Nixon's tenure it was visited by many world .On a recent visit to Cotton Point's private beach, OCCOASTPROPERTIES - Steve Mino and Natalie Vizir enjoyed a brief history lesson from one of the current long time residents and learned an interesting fact about the two statues of Mustangs that appear on the grounds. They are actually made from melt down tanks and given to Nixon as a gift from Breshnev! Following his resignation, Nixon retired to San Clemente to write his memoirs. He sold the home in 1980. The property also has historical ties to the Democratic side of the aisle; prior to Nixon's tenure at the estate, H.H. Cotton was known to host Franklin D. Roosevelt, who would visit to play cards in a small outbuilding overlooking the Pacific Ocean.

Click the attached for current properties available in Southwest San Clemente !

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Steve Mino & Natalie Vizir

Century 21

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Steve: 949-300-7412

Natalie: 949-300-5074

"A rich man is one that realizes his friends and family are his most valuable possessions"

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Interest Rates for the week ending June 24th

OCCOASTPROPERTIES reports:

"Interest Rates for week ending June 24, 2011"

Steve  Mino and Natalie Vizir report that interest rates continue to stay at historic lows. All rates remained the same from the previous week with the exception of the conforming $417k/20% down/5 year ARM product which dropped yet another 1/8th with points dropping to 1/2%. Natalie Vizir of OCCOASTPROPERTIES attributes the low rates and subsequent drop to "the continued strength of the bond market and the influence of the yearly summer buying season."

Conforming 417,000,000 with 20% down, 30yr fixed

4.375% -  .75 point

4.500% -   No points

Conforming 417,000 with 20% down, 5yr fixed arm

2.750% -  .50 point

2.875% -  No points

Conforming 729,500,000 with 20% down, 30yr fixed

4.375% -  .75 point

4.500% -  No points

Conforming 729,500 with 20% down, 5yr fixed arm

3.000% -  1 point

3.250% -   No points

FHA to 729,500 with 3.5% down, 5yr fixed

3.125% -  1 point

3.250% -  No points

FHA to 729,500 with 3.500% down, 30yr fixed

4.375% -  .50 point

4.500% -  No points

Non Conforming 2,000,000 with 20% down, 5yr fixed arm

3.250% -  1 point

3.500% -   No points

Non Conforming 2,000,000 with 20% down, 30yr fixed

4.750% -   .50 point

4.875% -   No points

Considering buying or selling your home? Call us or EMAIL us today!

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Steve Mino & Natalie Vizir

Century 21

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Steve: 949-300-7412

Natalie: 949-300-5074

"A rich man is one that realizes his friends and family are his most valuable possessions"

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Southwest San Clemente - "Southern California's Best Kept Secret"

OCCOASTPROPERTIES reports on:

Southwest San Clemente, California

"Southern California's Best Kept Secret"



The Gates @ Cyrpus Shore





Southwest San Clemente offers some of the most spectacular ocean view and ocean close homes Southern California has to offer. The community overlooks the world famous “Trestles” surf spot and nearby Cotton Point.



World Famous "Trestles" Surf spot!



The gated community of Cyprus Shore offers approximately 123 custom luxury homes ranging in size from 1900 to 4500 square feet. The prices range from $1.5 million to $5 million offering sprawling ocean views, private beach access, community pool and spa, tennis courts and a park that OCCOASTPROPERTIES - Steve Mino, best describes as “ a sprawling, Santa Barbara-style, tropical paradise.”

The nearby gated community of Cyprus Cove consists of homes generally priced from $1,400,000 and up. These home are walking distance to both the community amenities and private beach access. The more expensive, luxury bluff front homes have spectacular ocean views and offer amazing sunset views. Amenities include a private beach, clubhouse, pool, spa, tennis court, basketball court, private park and Koi pond.

Behind Cyprus Shores and yet another private gate is the famous Cotton Point Estates. Currently 16 exquisite Luxury custom estate homes cover the picturesque grounds. Most famous for the home built in 1969, commonly referred to as either “The Western White House or The Nixon White House” these properties are perfectly perched above “Trestles” with private beach access. OCCOASTPROPERTIES – Natalie Vizir notes this private estate community as “one of most exclusive and sought after areas in Southern California.”



The Western White House, built for President Nixon in 1969



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Steve Mino & Natalie Vizir

Century 21

OCCOASTPROPERTIES.COM

"A rich man is one that realizes his friends and family are his most valuable possessions"

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Still time for Call for Action - Steve Mino & Natalie Vizir

OCCOASTPROPERTIES reports:                                                                      

"Call to Action" required to ensure that your clients recieve affordable mortgages!

As reported yesterday by OCCOASTPROPERTIES.COM, Steve Mino & Natalie Vizir, NAR recently issued a Call For Action urging REALTORS® and clients to contact Congress and clearly communicate that Congress needs to prevent loan limits from expiring on Sept. 30.

Unless Congress acts, the current loan limits will expire on Sept. 30 and the cost of a mortgage could rise significantly. More than 669 counties in 42 states and the territories would be negatively impacted by the loan limit change.  According to Natalie Vizir of OCCOASTPROPERTIES.COM, "This could futher devastate the already suffering resale market by reducting the limits of the conforming loan amounts by as much as 25% in some areas." The average decline in loan limits would be more than $68,000 nationally, and loan limits for FHA, Fannie Mae, and Freddie Mac-insured loans will drop to 115 percent of the local area median home price with a cap of $625,500.  Currently, limits for these loans are 125 percent of local area median home price with a cap of $729,750.

Steve Mino of OCCOASTPROPERTIES.COM believes that "This proposed change may remove hope for many buyers by pricing them out of the American Dream of homeownership. Even worse, this could delay the housing recovery."

Steve Mino and Natalie Vizir agree that well-qualified buyers don't need yet another hurdle to access affordable mortgage financing.

OCCOASTPROPERTIES.COM urges you to please contact Congress today and communicate clearly that a housing recovery depends on keeping mortgages affordable and that Congress needs to prevent these higher loan limits from taking effect. If you need further information please contact Steve Mino at 949.300.7412 or Natalie Vizir at 949.300.5074

Considering buying or selling your home? Call us at 949.300.7412 or 949.300.5074 or EMAIL us today!

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Steve Mino & Natalie Vizir

Century 21

OCCOASTPROPERTIES.COM

949.300.7412

949.300.5074

"A rich man is one that realizes his friends and family are his most valuable possessions"

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Homes sales slow to lowest point in 2011

OUICK BLOG!

OCCOASTPROPERTIES reports:

WASHINGTON (AP) -- Fewer people bought previously occupied homes in May, lowering sales to their weakest point of the year.
Home sales sank 3.8 percent last month to a seasonally adjusted annual rate of 4.81 million homes, the National Association of Realtors said Tuesday. That's far below the roughly 6 million annual sales rate typical in healthy housing markets.
Since the housing boom went bust in 2006, sales have fallen in four of the past five years. Analysts say they expect sales to level off at about 5 million a year. That's not much better than the 4.91 million homes sold last year, the worst showing in 13 years.
The depressed housing market has weighed on the broader economy. Declining home prices have kept people from selling their houses and moving to find jobs in growing areas. They have also made people feel less wealthy. That has reduced consumer spending, which drives about 70 percent of economic activity.
One sign of the housing industry's struggles is that fewer first-time buyers are entering the market. The number of first-timers ticked down to 35 percent of sales last month. In healthy times, they drive about half of sales.
First-time buyers are critical because they tend to improve their properties and invest in their communities, a combination that raises home values. And their purchases allow sellers to move up to pricier homes.
Instead, the market has been saturated with foreclosures, which force prices down. Sales of homes at risk of foreclosure fell in May. But they still made up 31 percent of all purchases. And many pending foreclosures are backlogged in the courts or held up by state and federal probes into questionable foreclosure practices by lenders.
Until the glut of foreclosures are cleared and people think it's a safe time to buy, "it is unlikely that home prices can recover on a sustained basis," said Steven Wood, chief economist at Insight Economics.
Bigger required down payments, tougher lending rules, heavy credit-card and student-loan debt and a shortage of desirable starter homes are keeping many would-be buyers away. Even some who do have enough money for a down payment and a solid credit history are holding off, worried that home prices will keep falling.
Investors are filling some of the void. They are spending cash to scoop up deeply discounted homes in hard-hit areas of Phoenix, Las Vegas and Tampa. Last month, investors accounted for 19 percent of all sales.
All the while, previously occupied homes are cheap and in great supply.
Re-sold homes are a bargain compared with new homes. The median sales price for a previously occupied home in May was $166,500. The median price of a new home is nearly 31 percent higher than the price for a re-sale -- around twice the normal markup.
The gap is largely due to the flood of foreclosures and short sales. (Short sales occur when lenders accept less than what's owed on the mortgage.) A record 1 million homes were lost to foreclosures last year. And foreclosure tracker RealtyTrac Inc. expects 1.2 million more will be lost this year.
Another problem for the housing market is the glut of unsold homes. In May, the supply fell slightly to 3.72 million homes. At last month's sales pace, it would take more than nine months to clear those homes.
Homes priced for less than $100,000 are selling briskly, but more expensive homes are having trouble finding buyers. Analysts say a healthy supply can be cleared in six months.
The situation is worse when taking into account the "shadow inventory" of homes, economists say. These are homes that are in the early stages of the foreclosure process but, because of backlogged courts or the government probes, haven't hit the market for re-sale.
Sales fell across most regions in May. Sales dropped 6.4 percent in the Midwest, 5.1 percent in the South and 2.5 percent in the Northeast. There was no change in the West.
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Century 21

OCCOASTPROPERTIES.COM

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Very Important! Tell your Congress!

OCCOASTPROPERTIES reports:

This is a very important call to action. Please read below and "click" the link to the call to action report. Enter your STATE and see how your conforming loan amounts WILL be NEGATIVELY affected if this goes through without your FIGHT!

 

Tell Congress: Ensure Your Clients Have Access to Affordable Mortgages

On September 30, the cost of a mortgage could rise significantly. If this happens, many of your clients run the risk of being priced out of the American Dream of home ownership. Even worse, this could hold back the housing recovery.

As REALTORS®, you know that well-qualified buyers don't need yet another hurdle to access affordable mortgage financing.
Please contact Congress today and communicate clearly that a housing recovery depends on keeping mortgages affordable and that Congress needs to prevent these higher loan limits from taking effect.

Use our handy loan limits calculator to learn how your market will be impacted by these higher loan limits. Then send your letter by simply clicking "Send This Message."

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Considering buying or selling your home? Call us or EMAIL us today!

Visit us at www.occoastproperties.com

Referrals are our greatest compliment! Check out our REFER-A-FRIEND link!

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WHAT'S HAPPENING IN REAL ESTATE TODAY?

Steve Mino & Natalie Vizir

Century 21

OCCOASTPROPERTIES.COM

"A rich man is one that realizes his friends and family are his most valuable possessions"

OCCOASTPROPERTIES Supports WALK for LUPUS NOW! Join us in our fight against this curable disease! Click HERE!

Calling all teachers! Do you know about CalSTRS?

OCCOASTPROPERTIES reports:

The CalSTRS program is a great benefit to qualified members helping them get into thier dream homes! See below to see if you qualify!


What is the Cal STRS Program?

The CalSTRS Home Loan Program consists of agreements with lenders who provide 30-year and 15-year fixed-rate loans for the purchase and refinance of single and various multi-family dwellings. These loans are purchased by CalSTRS.
Bank of America Home Loans, who serves as the program administrator, will be the servicer for all CalSTRS loans.

What are the loan limits?

Loan limits can vary from $417,000 to $521,250 depending on the program.

What are the interest rates?

Although quoted interest rates for applications will change with market conditions, once your loan closes, the interest rate will be fixed for the term of your loan.

Am I eligible to apply for a mortgage throught the CalSTRS Home Loan Program?

Eligibility requirements include the following:

• Employees of California public school districts or California community colleges.
• Members of the California State Teachers’ Retirement System.
• CalSTRS employees.
• Inactive CalSTRS members as long as they have funds in their CalSTRS retirement account.
• Retirees receiving CalSTRS benefits.

Are their any restrictions?

Yes. Some of the restrictions are:

• The home must be the borrower's primary residence.
• The home must be located in California.
• For the 80/17 Program, borrowers and/or their spouse may not own any other properties

What are the features of the 80/17 program?

With the 80/17 Program, the borrower will sign two notes:

• The first note is for a fixed rate 30 year first mortgage for 80% of the total borrowed amount.
• The second note is for a fixed rate deferred second mortgage for 17% of the borrowed amount. This secondary financing for the down payment carries the same fixed rate as the corresponding first mortgage. Payments on the 17% second mortgage are deferred for the first five years of the loan (although the borrower is allowed to make payments during this period). At the beginning of the sixth year, accrued simple interest on the second mortgage will be added to the second mortgage’s balance, and the second mortgage will then be amortized using compound interest over the remaining 25 years. The borrower will make monthly principal and interest payments for the remainder of the mortgage term.
• The combined loan-to-value (LTV) ratio is 97% (80% LTV on the first mortgage and 17% LTV on the second mortgage).
• A 3% down payment is required. A minimum of 1% must come from the borrower's own funds. The remainder may come from a gift from a relative where repayment is not required or a grant from a government agency or an employer - assisted housing program, which has been approved by Bank of America Home Loans.
• Term – Both the first and second mortgages under the 80/17 Program have a 30 year term. The second mortgage has a five-year deferred payment structure.
• Interest Rate - Both the first and corresponding second mortgage carry the same fixed interest rate.
• Closing Costs - The closing costs and prepays can be paid from following sources:
  • Borrower's own funds
  • Seller contributions up to 3%
  • Gift from relative
  • Unsecured grant from a government agency or an employer - assisted housing program, which has been approved by Bank of America Home Loans.

The borrower (after closing) must have available cash reserves that equal at least two monthly mortgage payments. Funds from individual retirement accounts (IRA/Keogh accounts) and tax-favored retirement accounts (401k accounts) may be considered as cash reserves.

My existing loan is not a CalSTRS mortgage, can I refinance it with a CalSTRS home loan?
You may refinance your existing “non-CalSTRS” mortgage using the CalSTRS Conventional Standard Program; however, the 80/17 Program is for purchases only.

Can I refinance my existing CalSTRS home loan?
Refinances are allowed with the CalSTRS Conventional Standard Program.
Borrowers with conforming CalSTRS 80/17 or 95/5 mortgages may be eligible to refinance using the Home Affordable Refinancing Program (HARP) only, part of the federal government’s Making Homes Affordable (MHA) initiative. This program applies to qualifying first mortgages only, not second liens. The previously offered non-conforming mortgages under the 80/17 or 95/5 program are not eligible.

Does CalSTRS have a mortgage program  that will allow me to use portion of my pension fund for a down payment?

CalSTRS does not offer a mortgage program that involves the usage of any portion of your CalSTRS pension funds. Instead, we offer the 80/17 Program, which does not put any portion of your retirement funds at risk.

Am I required to have Mortgage Insurance (MI) with a CalSTRS home loan? Can't I decline Mortagage Insurance and take out a term life insurance policy in lieu of MI?

Lenders require MI protection for first mortgage liens with loan to value ratios over 80%. MI protection has nothing to do with your health, life or death. MI reimburses the lender, while a mortgage life insurance policy is designed to protect the survivor by furnishing cash to pay off the loan should you or your spouse die.
While you do have a choice with a life insurance policy, it will not absolve you of the requirements of MI insurance, particularly if you are participating in the CalSTRS Home Loan Program.
With the CalSTRS 80/17 Program, the first lien represents 80% of the loan to value; therefore, MI is not required.

What other insurances should I be aware of?

Title Insurance — This is included in the closing costs to insure that no other party can claim title to your property, protecting you and lender against such a claim.
Hazard Insurance — A contract that protects you from any financial losses on your property that might result from fire, flood or any other hazards.
Mortgage Life Insurance — Like Term Life Insurance, only this policy pays off your mortgage in the event of your death.

If you are interested in more information regarding this type of loan, please contact us or feel free to call our Bank of America MSA, Gary Barker at 714-348-3399

Considering buying or selling your home? Call us or EMAIL us today!

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WHAT'S HAPPENING IN REAL ESTATE TODAY?

Steve Mino & Natalie Vizir

Century 21

OCCOASTPROPERTIES.COM

"A rich man is one that realizes his friends and family are his most valuable possessions"

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Interest Rates....DOWN again!

Quick Blog:

OCCOASTPROPERTIES reports:

RATES DROP AGAIN! For the second consecutive week BofA interest rates drop again! The conforming loan amount has dropped from 4.5% with 1pt to 4.375% with .75pts! Great values on the FHA products! If the interest rates didn't move down, the required pts did, saving you money!

Call Gary Barker at BofA today! 714.338.3399 (tell him Steve & Natalie referred you for preferred discounts)

Conforming 417,000,000 with 20% down, 30yr fixed

4.375% -  .75 point

4.500% -   No points

 Conforming 417,000 with 20% down, 5yr fixed arm

2.750% -  1 point

3.000% -  No points

Conforming 729,500,000 with 20% down, 30yr fixed

4.375% -  1 point

4.625% -  No points

Conforming 729,500 with 20% down, 5yr fixed arm

3.000% -  1 point

3.250% -   No points

FHA to 729,500 with 3.5% down, 5yr fixed

3.250% -  1 point

3.375% -  No points

FHA to 729,500 with 3.500% down, 30yr fixed

4.500% -  No points

Non Conforming 2,000,000 with 20% down, 5yr fixed arm

3.325% -  1 point

3.625% -   No points

Non Conforming 2,000,000 with 20% down, 30yr fixed

4.875% -   .50 point

5.000% -   No points

Considering buying or selling your home? Call us or EMAIL us today!

Visit us at www.occoastproperties.com

Referrals are our greatest compliment! Check out our REFER-A-FRIEND link!

Be sure to subscribe to our BLOG so you can get notifications when OCCOASTPROPERTIES answers:

WHAT'S HAPPENING IN REAL ESTATE TODAY?

Steve Mino & Natalie Vizir

Century 21

OCCOASTPROPERTIES.COM

"A rich man is one that realizes his friends and family are his most valuable possessions"

OCCOASTPROPERTIES Supports WALK for LUPUS NOW! Join us in our fight against this curable disease! Click HERE!