Terri and Wade's Valencia, CA Real Estate Blog

Be sure to watch Terri and Wade's HGTV "Designed To Sell" episode which airs NEW YEARS EVE; 8PM (pacific time)

2007-12-17T12:33:00.000-08:00

Terri and Wade Reynolds in top 3 at Keller Williams VIP Properties

2007-12-14T16:41:00.000-08:00

At a luncheon held at the Hyatt Valencia on Friday, December 14th, Terri and Wade were recognized as the 3rd top selling team amoung 250+ agents for 2007.

Our Office Has Moved!!

2007-10-29T13:28:00.000-07:00

Come visit us at our new office location in Valencia. The new address is: 25124 Springfield Court, Suite 100, Valencia, CA 91355.

New Listing in Friendly Valley!!

2007-10-24T12:25:00.000-07:00

A great price on this corner unit 2 bedroom 2 bath with a large covered patio. Great location near the street for plenty of guest parking. All neutral paint and carpet. The master bath has a walk-in tub/shower for added convenience. This is a great home and lifestyle for those 55+ who enjoy golf, swimming and other activities or just want to relax and take life easy. Please see our featured properties for more information and pictures.

The Real State of Real Estate

2007-10-15T16:33:00.000-07:00

The Real State of Real Estate
Presented by: Gary Watts – Real Estate Economist, California Previews Retreat
Monterey, August 2007

Brief History of Real Estate
Historically, housing downturns average 27 months. We are in the 23rd month of the current downturn, so
once we are past this financial over-reaction, things should improve. The national median price of a
resale home is 3.4% higher than a year ago and the pending sales index is moving back up. There may
just be some light beginning to shine at the end of this tunnel!

1970 to 1980
Prior to my entering real estate in 1971, a quote appeared in Business Week (late 1969) due to an increase
in housing prices: “The goal of owning a home seems to be getting beyond the reach of more and more
Americans. The typical new house today costs about $28,000. “In 1972, interest rates were 7% and it
would take over 24 years before a home buyer could be able to obtain those low rates once again - today,
we are in the low 6’s. In 1973, banks had a run on deposits and for a period of approximately 8 months
there were no lenders who were in a position to make loans to home buyers. This should have caused a
collapse in the real estate market, but home prices continued to rise. In 1977, the National Business
magazine stated: “The median price of a home today is approaching $50,000. Housing experts predict
price rises in the future won’t be that great.”

1980 to 1990
At the end of the 70’s and into the 80’s, inflation hit 21.5% and home loans were reaching 18%! This was
followed by a crash (and later bail out) of the savings & loans industry in America. Although large job
losses were creating foreclosures, home prices continued to rise. By 1985, Money Magazine made this
prediction about home prices: “The golden-age of risk free run-ups in home prices is gone.”With a buildup
in defense spending and huge growth in manufacturing sector in the late 1980’s, increased job creation
led to a boom in home construction and home prices continued to rise. Then on November 11, 1989, a
dramatic event took place: the Berlin Wall came down! With the Evil Empire (the Soviet Union)
breaking up, things were going to change around the world and change quickly!

1990 to 2000
In early 1990, Congress began slashing funds for defense spending. Within a very short period of time, a
lot of highly paid workers in both defense and manufacturing had lost their jobs. California home prices
declined about 12% by 1996 when the San Francisco Examiner said: “A home is where the bad
investment is. “In the following 3 years, California home prices rose 19.7% wiping out all the losses of
the early ’90’s and ended the decade with a net gain of 9.35%. The median price in California has not
declined since 1996.

The Media
Today’s media plays up bad economic news now more than ever, which leads to misconceptions about
economic realty. Our economy is extremely strong, profits are superb and the world economy is
exploding.

• All you read and hear is that real estate is going down, yet last month, prices in the U.S. rose
3.4% from a year ago and California is up almost 1%. The Bay Area prices have gained 4.1%
over the last year and southern California median price is up 3.7%.
• Foreclosures are supposed to be at a record high - but last year 98.83% or mortgages did not go to
foreclosure. Today, the Bay Area’s foreclosure rate is up only 1.5% over last year while southern
California’s foreclosure rate is up 2%.
• The media reported 53,942 notices of default for the 2nd Quarter - a near record high. They arecomparing it to the 1st Q. of ‘96 when 61,541 notices were filed but fail to mention that 2 million
more home have been built in California since then!
• What if the media’s headlines read: 99.2% of Mortgages are Not in Foreclosure?
• The media and the financial markets have greatly over-reacted, to the real problems that have
been revealed in the lending marketplace, which is typical.

The Sub-Prime Market
It may surprise you to know that sub-prime loans make-up only 5% of the U.S. total loan market and Alt -
A loans (those with credit better than sub-prime but less than prime) total only 8% of all loans in the U.S.!
1. These exotic loans became a major influence in the early 2000’s, but anyone obtaining them up through
2004 had very few problems due to rapid equity growth. Many with no-money-down purchases soon
found they had 20% (+) equity within a year or two!
2. Most of the problems with sub-prime loans originated in the summer of2005 through 2006. In
California, 43% of all loans funded during that time were sub-prime loans.
3. Sub-prime loan investors that needed to sell their loans were liquidating their paper for $.96 on the
dollar. There has been no current data on sales since August 5th, but with the current turmoil in the
financial markets, I am sure they are being “dumped” for less.
4. Here is a financial report on some of the banks that provided the sub-prime money:
• Bear Stearns 2nd quarter revenue was $2.512 billion - a new record!
• Merrill Lynch saw 2nd quarter profits rise 30.2% Morgan Stanley (holding $5.2 billion in subprime
loans) had a 60% jump in earnings.
• Goldman Saks earned $2.33 billion in the past year.
• Bank of America (#2 U.S. bank), after putting aside $1.81 billion for potential credit losses, saw
net income rise to $5.76 billion - up from $5.48 billion last year.
The media will still report about massive delinquencies and huge foreclosures in the sub-prime market,
but those reports will not be accurate because they don’t explain the difference between a delinquent
payment, a notice of default or a foreclosure. They tell us “Foreclosures at Record High!” but that is not
accurate.
Source: Mortgage Bankers Association, National Homebuilders Association, Inside Mortgage Finance

Delinquencies vs. Notices of Default vs. Foreclosures

Delinquencies
Delinquencies cover any missed payment - even if it is just for one month, it is reported as a delinquency.
1. The delinquency rate on sub-prime loans was running at 13.77%, which is up 13.44% from the
previous year. In the last quarter, the delinquency rate dropped to 12.4%!
2. The delinquency rate on Alt-A loans is only 2.69%, while prime loans are at 2.57%.
3. Combining the three rates with the loan volume gives you a delinquency rate for all loans in the U.S. of
only 4.84%. The record low is 4.0%.
4. On jumbo mortgages (anything larger than $417,000) the delinquency rate is 0.37% 5. California’s
delinquency rate is only 3.25%.

Notices of Default
Notices of Default are filed when lenders’ loans have been delinquent for a specific period of time. These
loans begin the foreclosure process. The four states of California, Florida, Nevada and Arizona currently
have the largest amount of loans in the foreclosure process. Yet, in the 1st Quarter, 24 states saw a
decline in foreclosure starts and 36 states saw a decline in the 2nd quarter!
1. Only 3.23% of all sub-prime loans have entered the foreclosure process, with most of the defaults
occurring on loans from Jan. 2005 to June 2006.
2. Only 1.28% of all prime loans have entered the foreclosure process.
3. In California, the last quarter saw 53,943 notices filed, with most filings being on loans from the
summer of 2005 to the summer of 2006.
4. The lowest number was 12,417 in the 3rd Quarter of 2004.

Foreclosures
Foreclosures occur when the buyer has been unsuccessful in curing the debt, and either a lender or an
investor has acquired the property. As of last month, there was 1 foreclosure filing for every 693 homes
in America.
1. For sub-prime loans, 68% of the buyers are able to prevent the foreclosure by either refinancing the
property or successfully selling their home.
2. For prime loans, the foreclosure rate is 0.86%. Last year, the U.S. saw a combined foreclosure rate of
only 1.09% while California’s rate was 1.17%!
3. California now ranks #4 in the nation in foreclosures - down from #1!
The media will try to scare you with numbers like $1 trillion in loans needs to be recast this year and that
foreclosures could cost lenders as much as $2.3 billion dollars! They never mention that there is $10.4
trillion of mortgages with $56 trillion dollars of equity in American households.
Add to that the wealth of the U.S. at $70 trillion, with the value of stocks between $15 and $20 trillion,
while the bond market is even larger. So these loses (should they occur) should not have any great effect
on home prices.
A final note about foreclosures: The #1 reason they occurred was due to fraud. The #2 reason was
unethical lending, followed by #3 - loss of job, and finally #4 was medical reasons. By the way,
mortgage insurers are in a good position to cover losses at these (high) levels.
Source: Mortgage Bankers Association, Federal Reserve, Federal Bureau of Investigation

Why the World Changed in 1979 Baby Boomers’ Impact
Never before in the history of the world has a generation accumulated so much wealth as the baby
boomers. The Internal Revenue Service will tell you that from 1945 to 1979, incomes increased at the
same rate for all tax brackets. By 1979, the early baby boomers had been in the workplace for over 10
years. They were the most educated generation to enter the work force, and they had the skills for our
changing world. Today, the IRS tells us that, from 1979 to 2004, the median income in the U.S. rose
18%. From 2004 to 2005, incomes grew 5.8%.
The number of taxpayers making more than $100,000 grew by 3.4 million and accounted for more than
two-thirds of the growth vs. 2000! Half of Americans make less than $30,000 and two-thirds make less
than $50,000.
Those making more than $1 million grew by 26% and numbered 303,817 in 2005! These individuals,
who constitute less than a quarter of 1 percent of all taxpayers, reaped almost 47 percent of the total
income gains in 2005.
The top 85% of the nation’s wealth resides with the richest 15% of Americans; the bottom 50% of
Americans holds only 2.5% of the nation’s wealth.
Over the next decade, there will be a 25% increase in the population over 50 years of age. They have
more money than any preceding generation, due to having dual incomes, equity growth, and record
inheritances (60% goes to the top 40%)! This age group is spending $2 trillion dollars annually! Last
year, 2.1 million boomers turned 60, with 25% planning on not retiring.
They found a way to mix leisure with work and are not ready to fully retire - they have money and
income and they are still investing in real estate.

Huge Price Reduction on Northbridge Listing

2007-10-05T16:26:00.000-07:00

We have a huge price reduction on our Valencia Northbridge Ivywood model. The price has dropped to $689,000 down from $710,000!

MUST Sell this weekend!! Great deal, Great neighborhood

A prime Northbridge cul de sac home. It’s a gorgeous 2 story 4 BD, 3 BA, 3 car garage shows like a model. Many upgrades, beveled glass windows and entry door, custom tile, hardwood flooring, plumbing fixtures. Designer touches throughout. Beautiful large pool size back yard. Eat in kitchen plus formal dining area, downstairs bedroom. Dimmable recessed lighting abounds. Family room, kitchen, living room and outside wired w/speakers, all built-in JBL speakers stay. Ceiling fans in all bedrooms. Built in closet organizers in every bedroom. Walk to Helmers Elementary/Pools/Park. Low HOA ($36/mo) Low Mello Roos ($793/yr)!

Please see Featured Home Section of this website for more information and pictures!!

New Listing in Valencia Summit

2007-09-21T11:47:00.000-07:00

Terri and Wade have a new listing in Valencia Summit. The address is 26013 Tourelle Place, priced at $839,000. Incredible private Valencia cul de sac home with views of green belt. Beautifully landscaped retreat with built in spa and waterfall. Second courtyard with fountain at entrance. Close to frwys. Open floorplan with vaulted ceilings. Custom front doors, Travertine tile thru-out with custom floor molding, designer carpet upstairs. Caesar Stone kitchen counters with designer glass tile backsplash, stainless steel appliances. Plantation shutters. 13 SEER A/C 6/07, plus a whole house fan. Three car garage and 90 degrees to the street.

MORTGAGE MADNESS!!

2007-08-31T11:14:00.000-07:00

Want to know more about the mortgage industry meltdown? Do you know someone who is being affected? Do you know anyone who is having trouble paying their mortgage? Would you like to know more about the foreclosure process and how someone can stay out of it, stay in their home and not ruin their credit?

If you answered yes to any or all of these questions, you need to come to our Mortgage Madness and Foreclosure Avoidance Seminar on Saturday, September 15th from 3-4pm in the Fellowship Hall of Valencia United Methodist Church located at 25718 McBean Parkway in Valencia, CA. across from Henry Mayo Hospital. Staying away from the madness requires knowledge and decisive action! Come learn how. There is no cost and refreshments will be served. Please email us at: info@terriandwade.com if you want to reserve a seat. Seating is limited so reserve you seat today!!

Learn How to Avoid Foreclosure and Keep Your Home

2007-08-10T10:51:00.000-07:00

Are You Having Problems Paying Your Mortgage? Learn How to Avoid Foreclosure and Keep Your Home

Center for Responsible Lending NeighborWorks® America National Association of REALTORS® The Voice for Real Estate

YOU’RE NOT ALONE IF YOU’RE HAVING TROUBLE PAYING YOUR MORTGAGE
The housing boom led to a record homeownership rate of nearly 70 percent, but some homeowners now face problems making their mortgage payments and can’t refinance their loans. Over the last few years, lenders invented new types of mortgages to help families buy their first homes and refinance their existing mortgages. Many of these mortgages helped families without cash for a down payment, or with less-than-perfect credit, qualify for loans known as “subprime” loans. Subprime loans have a higher interest rate and higher costs, such as prepayment penalties. A very popular, widely available mortgage product is the hybrid adjustable rate mortgage (ARM). Hybrid ARMs have an initial period with a lower interest rate (“teaser rate”) followed by significant increases over the remainder of the loan. The hefty payment increase is often called “payment shock” because the borrower is surprised by the size of the increase and can’t afford the new payment. If you are having trouble paying your mortgage for any reason, or expect problems, you should work with experts and your lender to find a solution now. If you fall behind and don’t take action, the lender will foreclose on your home. If that happens, you may lose your home and all of the money you have already invested in it. The sooner you act, the better the chances you will avoid foreclosure. The Center for Responsible Lending estimates that 2.2 million American households with subprime mortgages have lost or will lose their homes as monthly payments rise on high-risk mortgages. These families stand to lose as much as $164 billion of equity in their homes. This brochure will help you understand your options and give you tips on how to avoid losing your home—regardless of what kind of mortgage you have.

If you’re in trouble, call 888-995-HOPE

COUNSELING RESOURCES
Non-profit organizations dedicated to helping consumers avoid foreclosure can be invaluable. • NeighborWorks® organizations work with the Homeownership Preservation Foundation to support a nationwide assistance number—888-995-HOPE. You can speak with a counselor, day or night, to help you get back on track financially. (English and Spanish) • Reputable counseling agencies, such as NeighborWorks® organizations, can help you avoid foreclosure. Look up your nearest NeighborWorks® organization at www.nw.org. • The U.S. Department of Housing and Urban Development (HUD) website has a list of HUD-approved counseling organizations, by state (www.hud.gov/counseling). We recommend that the list be used as a starting point to find good counselors. You also can call 800-569-4287 or TDD 800-877-8339. • Watch out for questionable counseling companies who advertise that, for a minimal fee, they will assist homeowners by hiring a lawyer to defend the foreclosure in court or negotiate lender assistance on the borrowers’ behalf. You should call a HUD-approved counseling organization, a local NeighborWorks® organization, or 888-995-HOPE before you pay or sign anything.

MORTGAGES WITH “PAYMENT SHOCK”
Mortgages like these can give you a “payment shock”: • 2/28 and 3/27 Mortgages. A 2/28 or 3/27 adjustable rate mortgage gives the borrower a fixed payment for the initial two- or three-year period before adjusting the mortgage up as often as every six months. After the initial “teaser rate” period, your mortgage payments typically adjust up every six months. • Interest-Only Mortgages. An interest-only mortgage lets you pay only the interest on the loan for the first 5 or 10 years and nothing to pay off the loan amount (principal). After the interest-only period, the mortgage requires much higher payments covering both interest and principal that must be repaid over the remaining years of the loan. • Payment Option Adjustable Rate Mortgages. Payment option mortgages let the borrower decide how much to pay each month. You can even pay less than the interest, and add the unpaid interest to the total amount of principal you owe. Or you can pay just the interest or an amount sufficient to pay off the loan in 15 or 30 years.
These mortgages can have an especially big payment shock. 2
Be careful if your mortgage has any of the following features: • A “teaser rate” or “no interest” period that expires and leads to a big jump in your monthly payment. • An option to pay less than the full interest due in any given month. Taking that option makes the amount you owe go up instead of down, since the interest you don’t pay is added to your loan balance. • An adjustable interest rate with very high or no limits on the amount your payment can go up. • A payment that doesn’t include an amount for paying property taxes and homeowners insurance. This means you may be hit with big bills you didn’t expect.

HOW REALTORS® CAN HELP
REALTORS® are in the business of helping people become homeowners and want to do everything they can to make sure you can afford to stay in your home. • The best and least expensive option will often be working with the current lender (or the “loan servicer” hired by the lender to oversee your loan). Read more about your options on the next page. • If your current lender isn’t willing or able to help, you may be able to refinance your current mortgage with another lender. REALTORS® can help you find responsible lenders that make fair and affordable loans. • To address the growing foreclosure problem, especially with subprime loans, some state and local governments and nonprofit organizations are offering financial assistance. Ask your REALTOR® or counselor about who to call. • Counseling agencies are in the business of helping borrowers like you. Check out Counseling Resources for some ideas. • Remember, you should shop just as carefully for a mortgage as you do for a car or anything else you buy. Getting the lowest possible rate and fees can save you many thousands of dollars over the life of the loan. • Sometimes the only option is selling the home. Of course, no one is better at helping a seller than a REALTOR®. It is better to sell than go through foreclosure because it will be easier to qualify for credit in the future and buy another home. 3
• Be wary of advertisements like “Cash for Houses/Any Situation” or “We Buy Houses for Cash.” Consumer groups have learned that many of these are scams that bait homeowners with the promise of rescuing them from imminent foreclosure. Unfortunately, the “rescue” often involves the borrower signing over the house and the family being evicted from their home.

TALK TO YOUR LENDER
Talking to the lender, or “loan servicer” that collects the payments, should be one of your first steps. The earlier you call, the better your chance to work out a solution. Here are some options: • Forbearance. Lenders may let you make a partial payment, or skip payments, if you have a reasonable plan to catch up. Tell your lender if you expect a tax refund, a bonus, or a new job. • Reinstatement. Reinstatement refers to making a payment that covers all your late payments, usually at the end of a forbearance period. • Repayment Plan. If you can’t afford reinstatement, but can start making payments to catch up, the lender may let you pay an additional amount each month until you are caught up. • Loan Modification. Your lender may agree to amend your mortgage to help you avoid foreclosure. The options include: o Adding all the missed payments to the loan amount and increasing the monthly payment to cover the larger loan. o Giving you more years to pay off the loan, lowering the interest rate, and/or forgiving part of the loan, to lower your monthly payment. o Switching from an adjustable rate mortgage to a fixed rate mortgage, so you aren’t exposed to increases in your monthly payment. o Requiring amounts for taxes and insurance to be included with your monthly mortgage payment so you avoid big bills in addition to your mortgage. • Sign Over the Property to the Lender in Exchange for Debt Forgiveness. This can hurt your credit, but is better than having a foreclosure in your credit history.

WHAT IF THE VALUE OF THE PROPERTY IS LESS THAN THE AMOUNT YOU OWE?
Where the value of the property is less than the mortgage amount, REALTORS® can help explain to the lender why it makes sense to let the homeowner sell the property for the best price and then forgive the remainder of the debt. 4
• Unfortunately, the amount of debt the lender cancels is treated as income when you file your tax return. • REALTORS® and the Center for Responsible Lending are working for enactment of pending legislation so homeowners aren’t stuck with a tax bill they can’t afford to pay. • Some lenders may require you to sign a promissory note for the difference between the value of the home and the amount owed. Before you sign any documents, please seek the advice of a housing counselor or lawyer.

FIND OUT MORE: QUICK REFERENCES FOR CONSUMERS
To help educate home buyers and homeowners about today's mortgage options, the National Association of REALTORS® (NAR) and the Center for Responsible Lending have produced a series of consumer information brochures. This is the fourth in the series, which also includes: • How to Avoid Predatory Lending • Specialty (Nontraditional) Mortgages: What Are the Risks and Advantages? • Traditional Mortgages: Understanding Your Options NAR also has issued a brochure in partnership with HUD’s Federal Housing Administration: • FHA Improvements Benefit You You can find all the brochures on NAR’s Website (go to www.REALTOR.org/subprime).

WATCH OUT FOR PREDATORY LENDERS
Here are some warning signs: • Sounds too easy. “Guaranteed approval” or “no income verification” regardless of borrower’s current employment, credit history, and assets. These claims indicate the lender doesn’t care about whether you can afford to make the payments over the long haul. • Excessive fees. Higher lender and/or mortgage broker fees than are typical in your market. Because these costs can be financed as part of the loan, they are easy to disguise or downplay. On competitive loans, fees may be negotiable. It is common for home buyers to pay only 1 percent of the loan amount for prime loans. By contrast, a typical predatory loan may cost 5 percent or more. 5
• Large future costs. High-risk adjustable rate mortgages where the payment rises a lot after the “teaser rate” period are seldom appropriate for families who already have had problems repaying other loans. Home buyers should avoid large single “balloon” payments (a lump sum due at the end of the loan’s term). • Closing delays. The lender delays closing, so your commitment on a reasonably priced loan expires. • Over-valued property. Inflated appraisals that allow excessive fees to be included in the loan and result in the borrower owing more to the bank than the home is worth. • Barriers to refinancing. Prepayment penalties that make it hard for a borrower to refinance in order to pay off a high-cost loan by taking advantage of a low-cost loan. • No down payment loans. These loans may be split into two mortgages, with one having a much higher cost. Home buyers should be sure they can afford the payments. • Unethical document management. Ethical lenders and brokers always require you to sign key loan papers, and never ask you to sign a blank document or a document dated before the date you sign.

ADDITIONAL RESOURCES
For immediate advice, call 888-995-HOPE to speak to a counselor on how to avoid foreclosure. Available in English and Spanish, 24/7. Or visit www.995hope.org for more information. HUD Resources: • For a list of HUD-approved counseling agencies, by state, go to www.hud.gov/counseling. • HUD’s Internet page—“How to Avoid Foreclosure”–is aimed at borrowers with FHA-insured mortgages, but can help other borrowers as well. Go to www.hud.gov/foreclosure. Freddie Mac: “Keeping Your Home, Protecting Your Investment.” Go to www.freddiemac.com and search for this brochure by typing in the full name of the brochure. Ginnie Mae: For a simple calculator to help homebuyers estimate how much they can afford to spend, read “How Much Home Can You Afford?” http://www.GinnieMae.gov. “Looking for the Best Mortgage” is a brochure issued by 11 federal agencies on how to shop, compare, and negotiate the best deal on a home loan. www.federalreserve.gov/pubs/mortgage/mortb_1.htm. Americans for Fairness in Lending: To find consumer resources related to a variety of lending issues, go to www.affil.org. 6
Consumer Handbook on Adjustable Rate Mortgages (the “CHARM” booklet) issued by the Federal Reserve Board (FRB) and the Office of Thrift Supervision (OTS). http://www.FederalReserve.gov. At the FRB site, click on “publications and education resources” and then on “consumer information brochures.” Credit-reporting agencies: Equifax (800) 685-1111 www.Equifax.com. Experian (888) 397-3742 www.Experian.com. TransUnion (800) 916-8800 www.TransUnion.com. Go to www.AnnualCreditReport.com to ask for a free copy of your credit report, once a year, or call 877.322.8228. See also www.FTC.gov. ==================================================================== The National Association of REALTORS®, “The Voice for Real Estate,” is America’s largest trade association, representing more than 1.3 million members involved in all aspects of the residential and commercial real estate industries. For more information, visit www.REALTOR.org. The Center for Responsible Lending is a nonprofit, nonpartisan research and policy organization dedicated to protecting homeownership and family wealth by working to eliminate abusive financial practices. CRL is affiliated with Self-Help, one of the nation’s largest community development financial institutions. For more information, visit www.ResponsibleLending.org. NeighborWorks® America creates opportunities for people to improve their lives and strengthen their communities by providing access to homeownership and to safe and affordable rental housing. For more information, visit www.NW.org. May 2007 Item # 126-126 ===================================================================== Center for Responsible Lending NeighborWorks® America 910 17th Street NW, Suite 500 1325 G St., NW, Suite 800 Washington, DC 20006 Washington, DC 20005 National Association of REALTORS® 500 New Jersey Avenue, NW Washington, DC 20001 7

Wade Reynolds installed as new President of the Santa Clarita Valley Resource Center

2007-05-30T14:34:00.000-07:00

A reception was held last Wednesday, May 23, 2007 to install the new officers of the Santa Clarita Valley Resource Center. Wade Reynolds was sworn in as the new President. He has been an active board member since 2005 and served one term as Vice President.

The SCV Resource Center connects nonprofits, businesses and residents to make the Santa Clarita Valley a better place to live, work and thrive. They provide training and resources to build the capacity of local nonprofits and serve as a volunteer center to engage more people in service.

For more information go to: VolunteerInSCV.org

Open House this Sunday from 1:00pm-3:00pm

2007-05-18T14:48:00.000-07:00

Please come out this Sunday, May 20th and view our open house at: 29646 Grandifloras Road in Canyon Country. Great home with very private yard with pool. It's a 3 bedroom 2 bath home with vaulted ceilings in family room and kitchen. Updated bathrooms. Gorgeous views of the mountains. No HOA or Mello Roos. For more information on this home click on featured homes at the top left of this page.

Terri and Wade are Northbridge Specialist

2007-03-19T15:39:00.000-07:00

Terri and Wade JUST LISTED!

23740 Cameron Court (Cottage Hill) 3 bedroom/ 3 bath with great views and a spa.

Terri and Wade JUST SOLD!

23341 Lynham Place (Sandalwood) 4 bedroom/ 3 bath 3110 sq. ft. Sold in 4 days.
27118 Highlands (Ivywood) 4 bedroom/ 3 bath 2829 sq. ft. Sold in 2 days.

Terri and Wade BROUGHT THE BUYER!

23329 Lynham Place (Sandalwood) 5 bedrooms/ 3 baths 3387 sq. ft.

Terri and Wade Receive Award

2007-01-03T12:29:00.000-08:00

Terri and Wade Reynolds received recognition for being in 6th place for Top Agents at Keller Williams VIP Properties. The award was received at a black tie event at the Hyatt Valencia on December 15, 2006.

The Signal Newspaper Article on HGTV's "Designed to Sell" Open House

2006-11-06T14:33:00.000-08:00

Valencia Home Makes TV, Market

By Jessica Marks
Signal Staff Writer

Monday November 6, 2006

Approximately 100 lookey-loos peaked around the open house of a Valencia home Sunday afternoon, the first to see the professionally redecorated home that will air on HGTV's hit show "Designed to Sell."

Many neighbors and local residents came seeking tips on how to decorate their own homes, after the show's highly reviewed interior decorator and a team of Designed to Sell carpenters, painters and handymen fixed up the house trying to get a faster sale or a higher price.

The home belonging to Jack and Cat Knight, located at 27228 Blakely Place, was accessorized, repainted and de-cluttered courtesy of a $2,000 budget courtesy of the show, and the results were widely favorable.

"It didn't look like this at all when we first showed," said real estate agent Wade Reynolds. "Having it look good and staged well is very, very important."

It is also very popular as well, as visitors took a keen interest in the dining room, the living room and the upstairs bathroom - the rooms the "Designed to Sell" team concentrated their focus.

"I thought it was very well done, very tasteful," Joel Miller of Valencia said. "The simple colors ... it was really ingenious."

A key point was the wainscoting which added a rich-looking paneling to the house, an element that was appreciated by many.

The three-bedroom, three-bathroom home was described as "small" by several people, so the color choice and the size of the furniture was impressive to many people who had lived for years in similar homes themselves.

Michelle Ries, who lives just a few doors down, especially liked the way fixtured mirrors looked in the bathroom.

"We might go and do that, too," she said.

But the home hadn't always looked that nice, the show's television host Clive Pearse said.

"This is one of the better ones we've done," Pearse said, who pointed out that initially, the house had a piano and a pile of diapers that were in the front room, instead of the charming conversation and sitting area that exists now.

Pearse, who has worked on dozens of similar projects, said that it's common for the homeowners to come back on the day of the open house and say, "Why didn't we live like this in the first place?"

The home's Realtors, Wade and Terry Reynolds, estimate that the work the show did added between $10,000 and $15,000 worth of value overall.

The show is expected to air on the HGTV channel in approximately four months.
Copyright:The Signal

HGTV coming to Valencia

2006-10-30T12:34:00.000-08:00

HGTV’s “Designed to Sell”
OPEN HOUSE

Sunday, November 5th
1:00 pm-3:00 pm

27228 Blakely Place
Valencia Northbridge Neighborhood

Terri and Wade Reynolds of Keller Williams VIP Properties will be hosting an open house to display the changes that the HGTV’s, “Designed to Sell” Team has made to this 3 bedroom 2 1/2 bath "Country Gate" home in Valencia-Northbridge.

A local area family has been chosen to be featured on the HGTV show, “Designed to Sell”. The series demonstrates to viewers what $2000.00 and a team of experts can achieve to help them sell their home.

An Open House featuring the home with all the changes made will be held on Sunday, November 5 between 1:00pm-3:00pm (the show producers are very strict on the times, so don’t be late). The home is located at 27228 Blakely Place in the Valencia Northbridge Neighborhood. It is a 1548 sq. ft. 3 bedroom 2.5 bath Country Gate Model. Blakely is off Dunsmore at Hillsborough. Look for our red “Terri & Wade” directional signs on November 5th. Due to filming requirements, please be prompt as we can only hold it open from 1Pm to 3PM.

Come to the Open House to see what the “Designed to Sell” Team has done and for a chance to be on nationwide TV with host Clive Pearse.

For more information go to: www.TerriAndWade.com
Or call 800-494-3049 x 2001

"Designed to Sell" Open House

2006-10-19T11:58:00.000-07:00

HGTV Coming to Valencia!

2006-10-12T14:57:00.000-07:00

Terri and Wade have been chosen to sell a Valencia Northbridge home that will be featured on the show, "Designed to Sell". Look for more details about the open house in November coming soon.

Sold Listing in 6 Days!! 27318 Shelburne Dr., Valencia, CA 91354

2006-08-01T13:31:00.000-07:00

Check out the Virtual Tour for this awesome and rare 4 garage Warmington in the heart of Northbridge. 3 Bedrooms, 3 Bath(s), 2,330 Estimated Sq. Ft. This beauty has 3 bedrooms upstairs and a spacious office with beautiful built-ins downstairs. Neutral decor that is light & bright, with volume ceilings and plantation shutters. Close to great schools and shopping . Large, private pool size back yard great for games with the family.

View this listing at 27318 Shelburne Dr., Valencia, CA 91354

The Reynolds Report for July 2006

2006-08-01T13:30:00.000-07:00

The market is still changing.
SELLERS, get the latest info. from us!

Homes Currently For Sale:
2447 (69% incr. since Mar.) with an average asking price of $671K
1165 (48%) have reduced their asking price on average by $16,900
Average days on market is 69.0 days (about the same since Mar.)
Homes In Escrow:
393 (20% decrease since Mar.) with an average asking price of $600K
220 (85% incr. since Mar.) reduced asking price on average by $17,760 (up 107%)
Average days to get into escrow is 59 days (about the same since Mar.)

What’s It All Mean? Call us for a No-Obligation Consultation.

Call Terri & Wade for a FREE, Comparative Market Analysis for your home.
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