Green Tips for Homeowners

Besides being only 8 miles from fabulous Laguna Beach, California, Laguna Woods Village is also close to many other vital locations you will find important. Indeed, the Village has close shopping, doctors and medical centers, restaurants, a major airport, and other points of interest known the world over. How about Disneyland anyone?

Let’s take a look at what is outside the “back door” of Laguna Woods Village. What is within a 5-10-20 minute drive of the Village? How about these locations! Let’s take a look:

Shopping – Laguna Hills Mall is right outside the gates of the Village (0.5 miles) and is anchored by Macy’s, JC Penny’s and Nordstrom Rack. It also hosts more than 100 specialty stores. Markets are located at most major corners surrounding the village. Von’s and Stater Bro’s are located at the corner of El Toro and Moulton Parkway. Mother’s Market is located at the corner of El Toro and Paseo de Valencia. Home Depot is located 0.5 miles away near the corner of Moulton and El Toro. Costco is located 3.22 miles away in Laguna Niguel, Trader Joe’s is located behind the mall on Carlota, and Walmart is located 3.49 miles away on Alicia Parkway.

Hospital and doctors – Saddleback Medical Center, a world class hospital, is located 0.5 miles away next to the Mall on Paseo de Valencia. Over 100 doctors are located on Paseo de Valencia representing every major branch of medical service.

Beaches – Laguna Beach is 8 miles away and Newport Beach is located only 11 miles away (Take the 73 Toll Road to get to Newport). Let’s not talk about all the great restaurants located in these towns! There are too many world class restaurants to even mention. While in Laguna Beach, visit the Sawdust festival during the summer and while in Newport Beach, why not go shopping at the world famous Fashion Island? Roger’s Gardens is also an internationally know nursery located right next to Fashion Island.

Restaurants – You will have to discover these on your own. I could fill an entire blog post covering all of these. There are over 50 located within a 1 mile radius of Laguna Woods Village. Laguna Beach and Newport Beach have another 50 each. I would say 200 restaurants are located within 10 miles of Laguna Woods Village.

Airport – John Wayne Airport is located only 8 miles away up the 405 freeway or only 7 miles away via the 73 Toll Road.

Points of interest – Mission at San Juan Capistrano is located south of the Village and is only 12 miles away, La Jolla is south on the 5 freeway about 45 miles away, San Diego is another 5 miles south of La Jolla. How about taking the grand kids to Disneyland? You’ll be a hero and get there in less than 25 minutes since it is located only 22 miles from Laguna Woods. Have friends in Los Angeles or want to visit some of the world class museums and points of interest located there? It is located less than 1 hour north of the village, via the 405 or 5 freeway.

Laguna Woods Village is indeed in the “middle of it all” but still peaceful and quite behind the guarded gates of this centrally located world class Senior Resort Community. See www.leisureworldre.com for more details.

The governmental structure of Laguna Woods, which incorporated as a city in March of 1999, consists of a City Council and Mayor chosen from within the elected Council. The council functions as most city governments do, contracting for police, fire and other public services administering city funds, etc.

In addition, the governmental structure of Laguna Woods Village currently includes three housing corporations and the Golden Rain Foundation (GRF). Each owner in Laguna Woods Village is a member of one housing corporation and the GRF. Between the GRF and the Housing Mutual’s, Laguna Woods Village has over $20 Million in reserves so we have a very fiscally responsible community.

The housing corporations are responsible for those things directly related to housing and the adjacent land.

The GRF is responsible for directing the operation of all “community” facilities such as the bus system, security, clubhouses, golf courses, stables, lawn bowling, etc.

Each of the Corporations contracts with Professional Community Management (PCM), a property management firm, to manage their respective area of responsibility.

The three Housing Mutuals are as follows:

Cooperative: United Laguna Hills Mutual 6,323 owners
Condominium: Third Laguna Hills Mutual 6,102 owners
Rossmoor Towers: Laguna Woods Mutual Fifty 311 owners

Each Mutual has a board of directors composed of residents elected by popular ballot of their peers. The Golden Rain Foundation is elected by the Directors of the three mutuals to manage, control and run the community facilities. In addition to the boards of directors, some 26 advisory committees exist to assist in the complex job of managing such a large community.

If you would like any further information about Laguna Woods Village, please contact me, Patrick McNamee of Century 21 Rainbow, via my web site: www.Leisureworldre.com

I just received the condo sales report for Orange County for the month of September and the average Condo in Orange County is listed for $315,528 while the median list price is $299,000.  Just for comparison sake, the average condo in Laguna Woods Village is listed for under $200,000 – that is 1/3rd off what the “average” condo is listed for in Orange County.  I have always said that Laguna Woods Village was a bargain!

Also out this week was the sales report for September.  30 condos sold in Laguna Woods Village for an average purchase price of $240,000.  839 Condos sold in all of Orange County last month for a median  purchase price of $300,000.  Once again, Laguna Woods Village comes in almost 1/3rd less in price on the “buy” side than any other condo in Orange County.  BUT, prices are rising, especially the condos on the low end of the market.  Average days on market has gone down to 102 days, a little more than 3 months on the market for the average listing…  That is down from 150 average days on market 3 months ago.  So we are seeing a trend develop!  WE ARE AT THE BOTTOM OF THE MARKET RIGHT NOW.  I will put that in caps because I really believe it!  Inventory is going down and there is pent up demand to purchase – at least in Laguna Woods Village – remember, Real Estate is very local, and what is happening here might not be happening everywhere…  If you would like to purchase a home in Laguna Woods Village, call Patrick McNamee at 949-293-7814 or visit his web site at: www.leisureworldre.com

The senior community of Laguna Woods Village is all about the “Country Club” amenities it offers.  These include the 27 hole championship golf course ($8 for residents), the fact that it is a gate guarded community – AND – one of the Top 10 safest cities in America!  The Horse stables, 7 clubhouses, 5 swimming pools, tennis courts, 2 state of the art fitness centers, and only 7 miles to Laguna Beach, California.  But how much is all this going to cost me? Good question!  The HOA dues for Laguna Woods Village are $528 per month for a Co-op and $553 per month for a Condo.  Besides all of the fabulous amenities mentioned above (and that is only a partial list), they also cover the following:

Building Insurance (fire and damage other than earthquake)
Cable television
Water
Trash pickup
Exterior building maintenance (painting and roof care)
Grounds maintenance
Plumbing and electric repair
Appliance repair and replacement (Co-op only)
Free Bus transportation, Maintenance of streets, sewers, exterior lighting, Around-the-clock security, Full replacement fire & hazard insurance on buildings
NO MELLO ROOS

The only thing more residents pay for is electricity, phone, and property taxes.

The “average” HOA dues for other condo developments in South Orange County are $275 per month.  When all expenses have been added up, Laguna Woods Village is actually $87 cheaper per month than the average South County Condo!  And $112 cheaper per month than an average Single Family Home!

Furthermore, the average price of a Laguna Woods Condo is $205,000 verses $317,000 for a condo in South Orange County.  That is a difference of  $112,000!  That extra $112,000 mortgage (at a 30 year fixed rate @ 5.2% interest) would run you an extra $615 per month!  You add this extra mortgage amount to the cost of the HOA dues of $275 and you get $890 – So Laguna Woods Village is actually $362 cheaper per month! That is a big difference! 

So when you add it all up, the expenses in Laguna Woods Village are actually less than they would be in a similar South Orange County Condo or Single Family Home.  For more information about Laguna Woods Village, please see my web site: www.leisureworldre.com

Leisure World, Laguna Hills, California (now referred to as Laguna Woods Village in the City of Laguna Woods) is the nation’s leading planned residential community for seniors. It was conceived and developed by Ross W. Cortese, who built the first Leisure World in Seal Beach, California in 1960. Cortese, a man of unlimited vision, believed that a void in housing existed for a person age 52 and over.

To find out what Seniors wanted he talked to civic leaders, doctors, clergy and groups of older people. He discovered that Seniors, those 52 and over, wanted a fresh new start in their lives after raising a family, fulfilling a career and, basically, just wanted to be free of household duties and the maintenance and up keep of a home. They wanted to enjoy their “Golden Years”!

Based on his research Cortese, working with a team of planners, architects, builders and designers, started Leisure World in Laguna Hills in 1963. His concept was to build a community that would cater to the needs of seniors.

The first manor (residence) was completed in November 1964 and the last manor in September 1980. Leisure World (the name was changed to Laguna Woods Village in October 2005) has approximately (2008 figure) 18,000 people who live in one of the 12,736 residential units (6,323 co-ops, 6102 condos and 311 units in two tower buildings), 7 clubhouse (originally 6 were constructed, but a 7th was added in 2005), 5 swimming pools, 10 tennis courts, 2 golf courses, an equestrian center, 10 craft shops, 2 garden centers, 2 RV storage areas, a library, 2 fully equipped fitness centers and over 200 clubs and organizations for residents to participate in. Add to this a “free” community bus service and a residence security service that patrols the 2,095 acres and mans the various entrance gates.

When completed Leisure World contained all the elements that Ross Cortese had envisioned in the early 1960′s, security, access to local health care facilities, nearby shopping, good transportation, cultural events and programs, excellent housing, recreational and educational opportunities and various other activities designed for Seniors to ensure their freedom and the opportunity to enjoy their “Golden Years”.

Right now it is a “buyer’s market” and we have many fine homes ranging in price from $122,000 on up to $350,000.  Patrick McNamee of Century 21 Rainbow Realty is an expert in this area, please check out his web site to get more real estate information about this active senior community: www.leisureworldre.com

Article contributed by Frank J. Hill, Broker/Owner Century 21 Rainbow Realty
Used with permission

Hello fellow Americans.  We have been hearing a lot of talk about the government “bail out” of the mortgage market as a solution to this current financial crisis.  I’ve got a better idea, give the people who are in crappy ARM’s that they can’t afford the option of a gov’ment secured 60 year mortgage (at the prevailing interest rate)!  This will lower their mortgage to a manageable amount of money each month with the hopes that in another 7-10 years the prices of homes will go back up and then they can sell for a profit or at least what they owe on the home…  Also, make the 60 year mortgage “assumable” so another person can buy the home if the person just wants out entirely…  As an “incentive” for taking on this 60 year loan – for the new person that wants to buy the distressed property – throw them a “bone” of only having to come up with like 3% down or something – since they are taking a risk by purchasing this home and will have to stay in this house for another 7-10 years lets say, until the housing prices come back up again!

I am a real estate agent in Laguna Woods, Calif. (www.leisureworldre.com) so I know a bit about the mortgage market and how it works.
 
I am so surprised the “big wigs” in Washington have not thought of this idea.  Don’t “dismiss” the bad debt, keep it until prices rise again and then nobody looses!!  Shout it from the roof tops fellow Americans and pass this Blog entry around the Internet!

By Patrick McNamee, Realtor, Century 21 Rainbow