Is #47 still for Sale?

Anybody know if this condo is still available?? I am very interested!
thanks.
Jason

Difficulty Financing Condos for Complexes with Unhealthy HOA Budgets

Click on link above for entire article.
Fannie Mae, a dominant financing source for condominium projects, has rolled out new procedures that some lenders and mortgage brokers say could tighten up the availability of loans to condo purchasers in the coming months. Freddie Mac has issued similar new guidelines.

Under Fannie Mae's changes, most of the due-diligence research on condominium projects' key characteristics -- their legal documentation, the adequacy of condo association operating budgets, percentage of unit owners who are late on association-fee payments, percentage of space allocated to commercial use, and percentage of units owned by investors -- must now be performed upfront by loan officers.

Not only is this time-consuming and costly, but under the new procedures, Fannie Mae expects the lender to warrant the accuracy of its research. Some condo project legal documents run into the hundreds of pages of text, yet lenders are supposed to take legal and financial responsibility for their accuracy.

The LA Times Reports

The median price for a Southern California home fell below $400,000, to $385,000. Homes are now typically selling for what they fetched in April 2004, with the median price 20% below the market peak of $505,000 last year. Click on title for full story.

Congratulations New Parkridge Board!

Congratulations to Jim Manhart, John Norton, Kelly Thompson, Sally Watkins & Kim Wolfe on their election to the Parkridge Board of Directors. Thank you all in advance for all of the hours and dedication you donate on behalf of everyone who lives in Parkridge.

Digital TV Transition Feb 17, 2009 & the Coupon Program

Click on the title link to be redirected to www.dtv2009.gov to get your free coupon

What is the digital television transition?
At midnight on February 17, 2009, all full-power television stations in the United States will stop broadcasting in analog and switch to 100% digital broadcasting. Digital broadcasting promises to provide a clearer picture and more programming options and will free up airwaves for use by emergency responders.
What is the TV Converter Box Coupon Program?
Congress created the TV Converter Box Coupon Program for households wishing to keep using their analog TV sets after February 17, 2009. The Program allows U.S. households to obtain up to two coupons, each worth $40, that can be applied toward the cost of eligible converter boxes.
A TV connected to cable, satellite or other pay TV service does not require a TV converter box from this program.

Consumers have a variety of options. Options to explore include:
Keep your existing analog TV and purchase a TV converter box. A converter box plugs into your TV and will keep it working after Feb. 17, 2009, or
Connect to cable, satellite or other pay service, or
Purchase a television with a digital tuner.

Park Ridge News-Landscape Notes

Just like you, the board too has noticed the recent decline in the quality of our landscape. We noticed the very dry spots and also the very over watered spots. We noticed the water spraying our stucco and recently repaired wrought iron. We noticed the dirt covering our sidewalks. We noticed the lack of greenery and beauty.

We reviewed our contract and called on our landscaping company. Board members conducted a very thorough walk through with the sales representative and the crew manager from the landscaping company. We conducted extensive tests of the sprinklers. We discussed the greenery and foliage. We were able to point out many items that needed attention and improvement and made it quite clear to our vendor that we have been a very loyal customer for years. In other words, we told the landscaping company to step it up or be prepared to step away.

Harvest Landscape took our walk through seriously and we are pleased to announce that you should see some serious improvements in the very near future. We will be cleaning, adjusting, repairing and capping sprinklers where needed.

Look for new ground cover being planted in front of our clubhouse shortly. This ground cover is called Red Apple. We are excited about it and hope you like it too. This ground cover has a wonderful feature-it may be clipped and planted in other areas of our community as well.

The up and coming improvements are at no cost to the association. We welcome your comments and reviews. We look forward to working with our volunteers on the up and coming projects as well.

Thank you to a cohesive and active Board of Directors. Thank you to a professional, knowledgeable and involved Management Company. Thank you to the community. Your willingness to become involved and be hands-on is a breath of fresh air.

Let’s work together to renew Park Ridge!

County Tax Officials Begin Reducing Assessed Values

Click on link in title above for complete Times article and link to the right for OC Tax Assessor Site

As Southland counties reassess home values, tax bills fall
Owners benefit, but already cash-strapped governments will see less-than-expected revenue. By Garrett Therolf, Los Angeles Times Staff Writer March 21, 2008

The tumbling housing market has prompted county tax officials around Southern California to begin reducing the assessed value of many houses, resulting in lower tax bills for homeowners but less-than-expected revenue for already cash-strapped governments.

The values of more than 41,000 homes have been reassessed downward so far in Los Angeles County, resulting in an average tax saving of $660. Other counties have barely begun the reassessment process but promise to get the job done before property tax bills are mailed in October.

SPECIAL ASSESSMENTS IN TRYING TIMES

Click on link above for entire article @ communityassociations.net

WOW, I cannot remember more difficult times for talking to boards and members about big but necessary special assessments. The meetings these days are becoming more and more challenging when a board has to face the membership to talk about how to raise multi-thousand dollar per unit assessments for repair work, it is not fun. But truth be told, if the Board does not tell the membership about a looming big problem, it will probably snowball down the hill into a much bigger problem ... so don't shoot the messenger.

Many thanks to those who attended the March 12 HOA meeting

Many thanks to those who attended the March 12 HOA meeting. It really does take a strong community to make things happen, and by the strength of the meeting on Wednesday night, I’d say that we’re doing pretty darn good!

For those of you who did attend the meeting, you had a chance to meet all five candidates on The Park Ridge Five’s slate-Kelly Thompson, Kim Wolfe, Sally Watkins, John Norton and Jim Manhart. Five out of the eight candidates running for the Board of Directors seats were present at the open session portion of the meeting.

Please know that we are five people who care about our community and want to see our investment flourish. Come talk to us if you happen to see us walking around the complex. We are happy to tell you the ideas we have for the community and how we propose to make these things happen around Park Ridge.

Please also know that change can only come if you VOTE. Please follow all directions exactly for filling out your ballot and either mail it in or walk it in to the April 9th meeting. The vote will not become official if we do not have fifty-one percent of the owners submitting ballots! Please submit your ballot!

Thanks a bunch!

***Kim Wolfe for the slate of The Park Ridge Five***

ANTI-FORECLOSURE WEBSITE IS THREATENED WITH FORECLOSURE

AHRC.com at risk of shut down by powerful realty interests
by Danny Schechter
Website: Media Channel.org
Mediachannel.org appeals to its readers and the independent media community to publicize this issue, appeal to the local press to cover it and to civil liberties groups to defend them. This is an issue of economic justice and free expression in the context of a national foreclosure crisis. A California website representing homeowners fighting against foreclosures and arbitrary actions by Homeowner Associations is at risk of being shut down in the same way that a muckraking whistle blower site, Wikileaks.org was removed from the internet by a California Judge until a public clamor forced him to reverse himself.

Kelly Thompson Answers Questions

My name is Kelly Thompson. I would like to take a few minutes of your time to respond to what I feel is a very important and legitimate question.

Why does the name Kelly Thompson appear on two very different documents coming from two very different points of view?

Firstly I would like to set the record straight that I am running on the team with Kim Wolfe, Sally Watkins, John Norton, Jim Manhart and me, Kelly Thompson.

Secondly, Rene Fernandez sent out his letter to the community and condo owners without even so much as mentioning it to me let alone asking me if I would like to run with him. I would also like to point out that not only was I not asked for my permission but I did not even receive the document. A neighbor brought it to my attention. I was stunned, shocked and angry.

I called Rene Fernandez to inquire as to why this occurred. I had to leave a message. To date I have not heard from him. That was two days ago.

For the record Jim Manhart was as shocked as I was. Jim and I have sat on a board with Rene in the past and we soon found out that sitting next to Rene on the board was not possible but rather we had to sit underneath him. I suspect that Rene’s motive in adding our names to his list was this-If we were elected along side the three other men we may have chosen not to accept. For the record if three board members are present a board meeting may still take place. I think you can figure out the direction I am going with this.

I have lived in Parkridge for 8 years and I have served on the board for nearly half of those years. After last years election I took a break but mid stream was asked to rejoin. I am a proud owner. I respect the value of my investment and I want to look out for the best interest of the community and other investors that share my pride. I do believe in following rules. I urge all to contact property management and get a copy of the rules. The rules are in place so as not to tell us what to do but rather to keep our property value high. Trust me when I tell you that I am reasonable and intelligent. I am quite sure that my attention needs to be on the re-pipe project which will be in the hundreds of thousands of dollars and not focused on a 50.00 fine for a towel draped over a wall.

I believe in community involvement and neighborly interaction. I believe in sound financial decisions and investments.

I hope that I have answered some of the questions and cleared up some of the confusion. I will be campaigning in the neighborhood and I will be available for questions any time.

Respectfully
Kelly Thompson

Answer to questin "who is qualified" below

Anonymous has left a new comment on your post "Special Assessment":

Someone posed a comment on this blog asking who was qualified to be elected to this board. I am here to tell you that there are five people who I think need to be elected to this board without a shadow of a doubt to keep the good momentum going from the 2007-2008 year. Without these five people being elected, action will halt around this complex and we will go back to nothing being done.
The five people running for Park Ridge Board of Directors that need to be elected are (in order listed on the ballot): Kelly Thompson, Kim Wolfe, Sally Watkins, John L. Norton and Jim Manhart. Why, you ask?
1. We are always open to listening to the residents of Park Ridge. We won’t tell you when you approach us that you need to fill out a communication form and quit speaking to you. Of course, you still need to fill out a communication form if you want action to be taken, but feel free to talk to us! We are neighbors!
2. We are an action-oriented group. As a group, we have done many things for Park Ridge, including painting the laundry room, cleaning up the exercise room, cleaning up graffiti and doing minor repairs around the complex. Look on this blog and you will see our pictures from two community based activities.
3. We bring over fifty years of experience together in the areas of administration, real estate, construction, communications and technical knowledge. Who wouldn’t want that type of knowledge and experience on our board?!
4. We are homeowners who care about our investment. Just like you, we are homeowners who care about our investment and want to see it get top dollar when we sell. You will get that top dollar with us because we will get out there and do the hard work necessary to make this place shine.

We, Kelly Thompson, Kim Wolfe, Sally Watkins, John L. Norton and Jim Manhart ask for your votes to get action done around this community. Please be sure to stop and talk to us with any questions you may have about the recent mailings that have gone out to you. We are happy to answer any questions you may have.

Kim Wolfe for the slate of the Park Ridge Five

Special Assessment

Anonymous said...
Vote On a Special Assessment????

I just received my newsletter this AM and I noticed we are going to be asked to vote on a Special Assessment. This has never happened before at Parkridge. In the past, we always just got the bill.

Does anyone know why this is happening ?? Are they going to ask for a million bucks per unit or are they going to do something else stupid like the clubhouse re-pipe, which still isn't done by the way, over two years after it began. There is still missing tile in the ladys room and no baseboard in the laundryroom.

In spite of the fact I can't see anyone being stupid enogh to vote for a higher monthly bill, ther's always a possibility that there's a good reason. If someone could shed some light on this, I'm sure I'm not the only one who would appreciate it.

#47 Reduced to $190,000 on Feb 21st after Feb 19th reduction to $217,000 - 1 Bed 1 Bath Parkridge Price Reduced to $225,000

That is under $300 per sq ft at $271 and now down 22% from just 2 months ago. Feb 19, 2007 was down 11% from December listing price. Feb 14, 2007 was down 7% from the December listing price of $243,000.

Plumbing Question?

#64 has left a new comment - I need to replace the water shut off valves in my unit. Does anyone have a recommendation for or against any of the plumbing companies listed?

Recent Parkridge Sales

#45 "Sold" 1 bed/1 bath; 10/24/07 @ $299,900

#105 "Sold" 2 bed/2 bath; 1/4/08 @ $305,000

Someone sent this comment to the previous post. It's interesting and I'll assume it's accurate as the comment was not signed.

1 Bedroom Parkridge Condo For $229,000 ($327 per sq ft)

#47 For Sale - Reduced to $229,000 on 1/15/08 after being reduced to $235,000 ($1,000 under #25) on 1/7/2008 & initially $243,000 1b/1b on 12/18/07- Now $7,000 below #25 and down 22% from September 2007 listing price for #25.

New Bankruptcy Laws Spur Foreclosures

Almost 30 years have passed since the Bankruptcy Reform Act of 1978, a time when mortgages typically had a fixed-rate and unchanging monthly costs. Back then — and until 2005 — if you ran into financial trouble bankruptcy provided a way out and a fresh start.

But in 2005 declaring bankruptcy — something that was never simple, easy or pleasant to begin with — became far tougher. Under the Bankruptcy Abuse Prevention and Consumer Protection Act creditors suddenly had new protections — and borrowers didn't.

What changed? Effective October 17, 2005 most student loans can no longer be discharged. If your income exceeds the state medium you can be forced to file under Chapter 13 (a repayment program) and not Chapter 7 (a discharge and forgiveness plan). Credit debt is not forgiven if you spend at least $500 in the 60 days prior to seeking bankruptcy protection -- say a cash advance to pay off a looming mortgage payment.

Perhaps most importantly for mortgage borrowers, the 2005 legislation says homeowners must obtain credit counseling and develop a budget analysis in the 180-day period before filing for bankruptcy.

Click on link for full article

Nancy Martin Employee of the Year!

Congratulations to our own Nancy Martin for being named CMS employee of the year for 2007! Personally, she has been very responsive and proactive for me and neighbors I talk to. She puts other recent Parkridge property managers and management companys to shame! Your Blogger, Howard

Defaults moving beyond sub-prime

Click on title link above for full LA Times article by E. Scott Reckard, Los Angeles Times Staff Writer

Joan Olsen, a retired welfare worker, fears she’ll join the ranks of the delinquent. She said she didn’t fully understand the loan terms when she refinanced her San Diego condominium 15 months ago with an option ARM. “I have no one but myself to blame for signing off on something I didn’t understand.”
Delinquencies among holders of risky option ARMs are increasing as their minimum payments climb.

Thought the mortgage meltdown was just a sub-prime affair? Think again. There's another time bomb waiting to explode, experts say: risky loans made to people with good credit.

So-called pay-option adjustable-rate mortgages, or option ARMs, were the easiest and most profitable home loans for lenders and brokers to make for much of this decade. Last year, they accounted for about 9% of the volume of all mortgages made in the U.S. and were especially popular in California, Florida and Nevada -- states where home prices rose the most during the housing boom and are now falling most sharply.

Fence Painting Project

Please, Please someone tell me that the fence has some kind of primer only....because it sure does look pink to me! anyone know if thats the final color?
thanks,
#125

New year looks to be good for buying a home

Let's dub 2008 the "Year of the Home Buying Opportunity."

That's my glass-half-full take on what's going to happen with the residential real estate market.

But the extent of the opportunity will materialize over time.

Perhaps market tracker DataQuick Information Systems and the California Association of Realtors provided a glimpse last week with sales and price statistics for November.

DataQuick noted that the median price across the Southern California region stretching from Ventura to San Diego fell a record 10.3 percent from a year earlier, to $435,000. (DataQuick's stats include new and previously owned houses and condominiums.)

The price drop was bigger - 12percent across California and in Los Angeles County - in the state association's report, which focused just on previously owned single-family houses.

Both reports noted that prices have dropped to early 2005 levels.

Robert Kleinhenz, the association's deputy chief economist, recalled that during the market slump of the 1990s, the biggest price decline statewide was 7.2 percent in May 1993.

Los Angeles County's biggest drop was 11.6 percent in March 1993.

Price drops back then for the state generally didn't exceed 5percent annually, he noted.

Parkridge For Sale Prices Drop

Both #25 and #102 have reduced their asking prices again. #25 is now listed for $260,000 and #102 is listed at $314,500. Below is some of the language on the listing at Realtor.com.

Move up to this listing and I'll buy yours for CASH! This home is also protected by the ONLY real Buyer Protection program around. If you are not satisfied with the purchase of your home within 12 months we'll buy it back. Call Listing Agent for details. (800)765-3150 x111 ********** They say buy the worst home in the best neighborhood. Well, this condo is a great home in a great neighborhood at a rock bottom price. Room to negotiate. If you're a buyer looking to get a great deal on a home in the current market, join our Foreclosure Buyers Club for access to all the best listings that even other agents don't have access to. (800)765-3150 x112 .

Santa Ana, Anaheim top O.C. in distressed homes for sale

Santa Ana, Anaheim top O.C. in distressed homes for sale
November 5th, 2007 · 129 Comments · posted by Jon Lansner of the O.C. Register
Market watcher Steve Thomas at Re/Max Real Estate Services in Aliso Viejo has a new stat out: foreclosures and short sales listed for sale — what I’m calling distressed properties — as a share of total for-sale inventory by major O.C. communities. Short sales are where the bank agrees with a troubled borrower to take less than the loan amount due at sale.

The report (derived from MLS listings) shows that as of last Thursday, Santa Ana’s home inventory had the highest share of distressed properties in O.C. at 32.8%, just ahead of Anaheim at 32.6%. While we’ve discussed mid-county housing woes before, it’s noteworthy that the next two communities with high levels of distressed property for sale were Rancho Santa Margarita (31.3%) and Lake Forest (29.8%.) Read how beach towns fared HERE.

Overall, Thomas found 17.5% of all O.C. inventory was of the distressed variety. Here’s a look at the distressed property count and share of inventory by key O.C. neighborhoods ….

How did the laundry room really get painted? Here is the story:

How did the laundry room really get painted? Here is the story: The team came together when Kirsten asked Sally (current Board member) if the laundry room can be painted. Since our association is low on funds, Sally said it would have to be done by volunteers and Kirsten immediately said she would help. Another resident present at that time volunteered too. Sally brought it to the Board and the suggestion was well received and all members assisted in the event. Thus, Sally created the "ParkRidge Community Volunteer Team". Please review the posted pictures (thanks Howard) and meet the team who made it happen: Lee and her husband Jimmy, Kim, Kelly, Sally, Deanne, John, and Josh were present and Kevin helped behind the scenes. There is still a couple of things to be completed in the laundry room and must be reviewed by the Board. But thanks to volunteers, the painting part only cost the HOA $173.10 for paint and supplies, thus far.

How can you be a part of the “ParkRidge Community Volunteer Team” you might ask? Attend the meetings and advise the Board or contact our property manager, Nancy Martin, and she can get your information to the Board. Many hands make light work and saves lots of money too!

It needs to be clarified at this time that it is the current Board who is making things happen around here. Rene voluntarily quit the Board some months ago and has not had anything to do with what is currently happening. Sally was voted in, in August, and Kelly has agreed to rejoin effective this October. Therefore, the current Board consists of Lee, Kevin, Kim, Sally, and Kelly. Since August you have seen the start of the trees trimmed, the sidewalks repaired, sewer lines cleaned, water regulators installed on the boilers, minor repairs to a block wall, and slab leaks repaired.

Keep up the good work Board and thanks to ALL volunteers who help make our community a nice place to live.

Deanne #59