Old Orchard (Valencia, CA)
Old Orchard (Valencia, CA) Real Estate News
Ralph headshot 03 600x600
JUST SOLD! - Central Valencia Pool Home - $485,000
Ralph Gorgoglione, California Real Estate (800) 591-6121 (John Aaroe Group)

$485,000, 4Bd/2.5Ba Single Family House, 1767 sqft.

 

 
Ralph Gorgoglione / Richard Ruggaber | John Aaroe Group | 661-927-7355
23536 Via Barra, Valencia, CA 91355
Charming 2-Story Central Valencia Pool Home
4Bd/2.5Ba Single Family House
 
$485,000
Year Built 1973
Sq Footage 1767 sqft.
Bedrooms 4 Beds
Bathrooms 2.5 Baths
Floors 2
Parking 2 Garage
Laundry In Unit
Lot Size 5539 Square Feet
Virtual Tour 23526viabarra.aar...
Website 23526viabarra.aar...

DESCRIPTION

Spacious, 2-story Valencia Tempo pool home. Wood floors, new carpeting, freshly painted interior and exterior. Master suite with en-suite bath and walk-in closet. Kitchen with bay window open to backyard. Living Room with beautiful bay window. Double-attached garage, dedicated laundry room, all bedrooms up with downstairs powder room. Nice fireplace in living room with updated stack-stone accent. Double-door entry with foyer. Sparkling pool and spa. Nice, sensible floorplan that is easy on the eyes. Located in one of the most central areas of Valencia. 2 minutes to shopping, restaurants, schools. Henry Mayo hospital located around the corner. 3-4 minutes to the freeway. No HOA or Mello Roos! Just add new buyers, mix, bake for 30 days and.....Voila! A fresh and delicious family home!
 
Valencia
see additional photos below
Unit Features

- Living room - Dining room - Walk-in closet
- Master bath - Family room - Storage space
- Range / Oven - Dishwasher - Private pool
- Balcony, Deck, or Patio - Yard - Fenced yard
- Lawn - Porch - Sprinkler system
- Heat: forced air - Central A/C - Air conditioning
- Ceiling fans - Hardwood floor - Tile floor
- Fireplace - Hot tub / Spa
ADDITIONAL PHOTOS


Curb View

Foyer to living room

Stairwell

Foyer to Den

Living Room

Powder Room

Den

Den/Kitchen

Back Yard

Pool

Kitchen

Kitchen

Stairwell Landing

Stairwell Landing

Master Bathroom

Master Bedroom

Guest Bathroom

Bedroom

Bedroom
 
Contact info:
Ralph Gorgoglione / Richard Ruggaber
John Aaroe Group
661-927-7355
For sale by Agent/Broker
Posted: Dec 18, 2014, 4:11pm EST
Trish   web pic 2 cdpe site
Featured Santa Clarita Neighborhood | Valencia Old Orchard Homes
Tricia La Motte, Santa Clarita Real Estate (Keller Williams VIP Properties)

Valencia-Old-Orchard-homeThe neighborhood of Valencia Old Orchard in the city of Santa Clarita is what originally put Valencia on the map so to speak. In the mid 60's young families were looking for an affordable alternative to congested Los Angeles and the San Fernando Valley. Newhall Land and Farming started a master planned community, with Donald Bren as the builder of the Old Orchard Homes. Many people today believe that these homes are among the best built in Valencia.

Valencia-Old-Orchard-paseos

 

The neighborhood offers various floorplans, all offering great use of space and still popular since their first arrival on the scene. Among these are 2 and 3  bedroom, 2 bath homes with zero lot lines - creating an extra large side patio and of course a backyard. There is a very popular one story floorplan with 4 bedrooms - a rarity now in Santa Clarita and especially the community of Valencia due to rising land costs. There are also 3 different 2 story floorplans with 4 or 5 bedrooms.

Valencia-Old-Orchard-community-pool

There are three neighborhoods in the Old Orchard Homes: Old Orchard I, which has its own clubhouse, swimming pool, amenities, and Home Owner's Association; Old Orchard II, also with its own clubhouse and swimming pool; and Old Orchard III, which does not have a Home Owner's Association - for those homeowners who do not want an HOA. The Old Orchard Homes in Valencia have great access to both the Interstate 5 freeway and the 14 State Highway, to elementary schools, junior high school, and high school; as well as shopping, restaurants, public transportation, and places of worship.

Information about Valencia in the city of Santa Clarita

Tricia LaMotte, Realtor, CDPE, CIAS, CNE, CRS, e-PRO, GRI, SFR

Certified Residential Specialist

Certified Negotiation Expert

Certified Short Sale Specialist

www.SCVHomePro.com

www.SantaClaritaHomeMarket.com

tricia@scvhomepro.com

Keller Williams VIP Properties

Valencia, CA 91355

in the Santa Clarita Valley

DRE # 00826786

661-259-6154

Trish   web pic 2 cdpe site
Valencia Old Orchard Home in Santa Clarita CA | For Sale? Sold!
Tricia La Motte, Santa Clarita Real Estate (Keller Williams VIP Properties)

Old Orchard Valencia Home

A new family is moving into this lovely Old Orchard I home in Valencia CA. The sellers have moved to Colorado and are so appreciative of my working with them to sell their home quickly and with no hassle!

It's always a delight when everyone works as a team to make a move possible - down to negotiating and working out the details of repairs to the satisfaction of both the buyers and the sellers.

The Old Orchard I tract in Valencia is the original Valencia neighborhood that started the master plan back in 1967. It is still popular today and offers so many amenities - such as a beautiful clubhouse, pool, picnic areas, the great Valencia paseo systems, good access to the Intersate 5 for commuters, excellent schools, and living in Santa Clarita...one of the best places to live in the U.S.!!

Valencia Old Orchard paseos

For more information about selling your Valencia home...in Old Orchard or any other Valencia neighborhood...or buying a Valencia or Santa Clarita home, contact Tricia LaMotte. Make your home purchase or home sale hassle free!

Tricia LaMotte, Realtor, CDPE, CIAS, CNE, CRS, e-PRO, GRI, SFR

Certified Residential Specialist

Certified Negotiation Expert

Certified Short Sale Specialist

www.SCVHomePro.com

www.SantaClaritaHomeMarket.com

tricia@scvhomepro.com

Keller Williams VIP Properties

Valencia, CA 91355

in the Santa Clarita Valley

DRE # 00826786

661-259-6154

Photo
What is a 203k Loan? 203k Loans Made Simple
Colleen Craig, Socal Mortgage Pro (Southern California Mortgage Professional)

What is a 203k Loan? 203k MADE SIMPLE

In Southern California, FHA loans were just not utilized much in the past because of the FHA Maximum Mortgage limits  But now that the limits have been increased and the prices have decreased, FHA loans have become the most utilized loan especially for first time homebuyers. 

So what is a 203k loan and why use one?

When a buyer wants to buy a home that needs repairs utilizing FHA financing, normally the repairs would have to be completed prior to the close of escrow.   The repairs would normally fall on the responsibility of the seller.  With so many foreclosures in today's market, the bank is the seller.  And many times the home in need of repair is listed "as is".  Which in the past would require a cash buyer or conventional financing.  This is another reason that people in the business decided to shy away from FHA loans.  I believe it was pure ignorance of the programs that were available by the brokers and the realtors couldn't properly prepare their seller for what to expect that gave FHA loans a bitter taste. 

 

Here we go....203k loans for dummies 

                                           

*  203k loans allow you to FINANCE the cost of the repairs in the new loan amount. (Not to exceed 110% of the after improved value determined by the appraiser and 203k consultant) What does this mean?  I buy a house for 200,000 that needs 50,000 in repairs and I can borrow the extra 50,000?  Too good to be true?  NOPE.  That's it in a nutshell....

ok details please.........

*  Down payment is based on the sale price PLUS the final cost of the repairs x 3.5% so for example:

Sale price is 200,000 (DO not calculate 3.5% on this)  PLUS 50,000 in repairs/costs (which includes certain costs and reserves the lender will require) 250,000 x 3.5%.  Down payment is $8750.00 (closing costs are separate as usual)

* Buyer will hire (lender can recommend) a HUD approved FHA 203k Consultant  to go to the property with the buyer to determine the required repairs and wish list repairs.

 The fee charged by the consultant can be included in the mortgage.  The fee can range anywhere between $ 400 to $1200 depending on the repairs required.  Please check with the consultant prior to scheduling your appointment.

*Buyer will obtain estimates from several licensed contractors for the work to be completed depending on how extensive the repairs.

Three estimates are recommended for each contractor but not necessary.  FHA says that the buyer can act as their own general contractor only if experienced and licensed, however most investors do not allow this option anymore.

The consultant will determine the "required" repairs versus the "wish list repairs".  You must start with the required repairs and then move on from there for you wish list. This is an important step for the consultant and appraiser so that you don't over improve the home and exceed the comparable properties in the area.

Eligible Repairs

  1. Structural alterations and additions
  2. Garage (attached /detached/new)
  3. Remodel kitchen or bathroom
  4. Install appliances
  5. Changes to eliminate deterioration and reduce maintenance
  6. Repair swimming pool (up to $1500)
  7. Modernize plumbing/heating/air conditioning/electrical systems
  8. Install or repair roofing /gutters/downspout
  9. Install flooring /title /carpet
  10. Energy conversation improvements
  11. Major landscaping /decks/fencing
  12. Improvements for accessibility ( e.g. handicapped ramp)
  13. Interior and exterior painting
  14. Improvements that are a permanent part of the real estate

Ineligible Repairs

  1. New Tennis court
  2. Gazebo or bathhouse
  3. Additions or alterations to provide for commercial use
  4. Photo mural
  5. Television antenna or satellite dish
  6. New Swimming pool
  7. Outdoor fireplace/hearth/barbecue pit  (Sorry to those of you in California! Sob)

* Once the consultant completes his report of required and wish list repairs, the lender will forward it to the appraiser for an "After Improved Value".  This is where you may run into problems with OVER improving the property based on current values.  Between the consultant, appraiser and buyer - the FINAL FINAL report will be tweaked to come up with a final report that the contractors will be hired to do.

* So now the file is submitted to underwriting and approved ( you need to qualify at the full amount you are borrowing of course, which may include your current mortgage payment for the home you will live in during the rehab period) and the normal steps for closing will occur.

(BIG PLUS - you can include 6 months of mortgage payments in the new loan amount since it's assumed that you will have TWO housing payments during the rehabilitation of the new home.  This money will be deducted each month during the rehab process) This is optional.

* Closing occurs, and the work begins within 30 days of closing/funding. (This is when your mortgage payments start since this is when you started borrowing the money - however, if you included the 6 mths mtg payments, they will be deducted from escrow starting when your first payment is due)

* Disbursments are made throughout the following 6 months from the escrow account (normally 4 draws with one final inspection, but  this can be increased for higher repair amounts) as the work is completed.

Remember you paid the seller for the price of the home, and then you borrowed an additional amount of X which is sitting in an escrow account to pay the contractors (your total loan is the total amount you borrowed)

Once the last disbursement is made and the final inspection showing COMPLETED AS PER THE CONTRACT........you are done! Simple As 1 2 3  - okay maybe not, but that's why having an experienced lender on your side is crucial!

There are specific properties and repair requirements for this type of loan, so please contact Colleen Craig FHA 203k Specialist for more specific details if this sounds like the right loan for your new home.

 Or contact Colleen Craig FHA 203k Specialist for more details

See full size image

 Happy Rehabbing!

 

 

 

 

 

 

  

Valencia, CA Real Estate Professionals
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