Mission Viejo, CA

We will have the government as a landlord. For the sake of the persons who cannot make their mortgage payment we will through Fannie Mae be government landlords. Fannie just got more money from the federal government (our collective monies) because than were in trouble again.

Now, Fannie Mae will help those who can't pay the mortgage by leasing their homes back to them. What does the homeowner need to do? Give them a Fannie Mae a deed-for-lease. Does this sound good to you? They must give up private ownership of their home to the government and become a renter.

What happened to the loan modification? Or was that simply a ploy to get homes out of the hands of private citizens? Not sure.

Yes, it could be a saving grace for those who do not have money because they were cut back on a job or one spouse lost their job. The program does not have a way for the homeowner to get back to ownership. The lease is for one year and then goes to month to month.

Fannie Mae stated that they can rent at current market rates established by their management company. The idea is that Fannie Mae will be able to sell the home at a higher price in the future.

What is a Jobless Recovery??? It is where we claim that he recession is over and that everything is back to normal. Manufacturing, housing and retail sectors are back to business and we are fine.

Are you kidding!!!

If I am out of work there is no recovery, being jobless is a very serious situation. Jobs give us the money to spend to purchase the things that are made. Houses, cars, groceries, goods, stocks, anything that makes this economy work. How else could we have a recovery? I guess if we were exporting goods to other countries and they had the jobs to purchase our stuff. That is not happening.

What about government paying us (unemployment or welfare) but government does not have money unless it taxes us and takes it from those that have it and give it to those who don't. Or government could keep printing money until the dollar is worthless. Either way that does not work, therefore, without jobs we only have a false recovery. Do not tell me we have a jobless recovery.

The economists tell us that the unemployment rate is now over 10 percent and climbing. More people are losing jobs and getting poorer. Therefore, spending less on everything including taxes. So we have less taxes and fewer people working and the projections are that next year there will be more out of work than this year or jobless rate is climbing. NO RECOVERY

Mission Viejo Area Market Report

This weeks market report for Mission Viejo and surrounding areas shows that Orange County Median Prices for the resale homes were up 4.2 percent, for new homes it is up 3.6 percent and for resale condos up 4.6 percent. The sales volume is up for resale homes 5.7 percent and up 8.8 percent on condos and down 19.6 percent for new homes.

• Mission Viejo Zip Code 92691 sales prices are down 9.0 percent and the sales volume is up 15.4 percent.
• Mission Viejo Zip Code 92692 sales prices are up 3.3 percent and the sales volume is up 33.3 percent.
• Aliso Viejo sales prices are down 13.8 percent and the sales volume is even 0.0 percent.
• Laguna Niguel sales prices are down 8.0 percent and the sales volume is up 39.7 percent.
• Rancho Santa Margarita sales prices are down 26.6 percent and the sales volume is down 7.6 percent.
• San Clemente Zip Code 92672 sales prices are up 7.0 percent and the sales volume is up 135.3 percent.
• San Clemente Zip Code 92673 sales prices are down 9.0 percent and the sales volume is up 4.3 percent

Once again as money gets tight we have investors find it difficult to purchase more homes or to get all the homes they want in their own name. That is correct it is difficult to impossible to get more than 10 properties. Why?

Even if the person is a true investor who buys homes to hold long term and rent out. The rules that make it difficult come from government control. Fannie Mae and Freddie Mac Loans set their guidlines and the rest of the financial mortgage lenders follow suit. Some lenders will not allow more than 4 properties because it was a previous rule.

Now, this rule only applies to properties that have loans on them. If they are paid off then it is not counted.

Casta del Sol is a retirement community located in Mission Viejo, CA which was named the safest city in the U.S. It is a planned development of nearly 2000 homes built in a natural environment of gentle rolling hills with many views. When the Santa Ana winds blow, you can see from some locations, all the way to the Pacific Ocean, 7 miles away and in the other direction Saddleback Mountain. Located 1 ½ miles from Mission Viejo Lake with swimming, fishing and boating, it is like living in a resort.

It was built starting in the early 1970's and finished in the1990s, so there are many different floor plans and architectural designs. These are detached and attached homes mostly single story in a guard gated community.

Activities abound both within and adjacent to our community. Having 2 pool, spa, 2 club houses, exercise room, meeting rooms and hobby rooms giving you plenty of socializing locations. Within Casta del Sol there is bowling, library, walking paths, garden club, wood carving, ceramic arts, parks etc.

This is the best location to retire iOcean beaches are only 7 to 10 miles away, lake is 1 ½ mile, mountain is 8 miles, deserts are one hour drive and theme parks in all directions.