Wilder Canyon & Alhambra Estates by Taylor Morrison -New Home Communities
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About Wilder Canyon… Taylor Morrison at Wilder is the prime location for any homeowner. Residents at Wilder will be eligible to attend Orinda's incredible public schools and be in close proximity to the best private schools, as well. Just minutes from charming downtown Orinda, Wilder is close to the best shopping, restaurants, local concerts, boutiques and farmers markets. Prices begin in the mid $1 millions and sales are scheduled to start at Wilder during the Summer of 2015. About Alhambra Estates… Alhambra Estates is a hidden gem in the Alhambra Valley area of Martinez. With views of the area's green rolling hills, this unique community of 23 single-family home sites features both single-story and 2 story homes ranging from 3,280 to 4,757 square feet. The homes at Alhambra Estates offer 4-5 bedrooms, 3.5 to 4.5 baths and optional rooms including additional bedrooms, wine rooms, libraries, garage space and guest casitas. Prices begin in the low $1 millions and sales start for Alhambra Estates in the Summer of 2015.
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Wilder Canyon & Alhambra Estates by Taylor Morrison -New Home Communities
- 1. New home community presentation Presented by Lawrence August Taylor Morrison presents… Wilder Canyon Alhambra Estates
- 2. New home community presentation 1:00 pm - Introduction - Orinda and Alhambra Valley communities Michael Moore & Pete Sabine – Pacific Union Real Estate 1:15 pm - Wilder Canyon & Alhambra Estates presentation Lawrence August – Taylor Morrison 1:45 pm - Q & A 2:00 pm - How to Sell First - Then Buy versus How to Buy First - Then Sell options Cathy Gromacki & Margaret Caddel – Homestreet Bank 2:30 pm to 3 pm - More Q & A
- 3. Living in Orinda Forbes Magazine Friendliest Cities #2 Friendliest City
- 4. Living in Orinda Top Rated by Nextdoor.com • 97% of owner-occupied homes • 77% of college graduates • Charitable giving • Low Crime rate
- 5. Living in Orinda Top Rated Public Schools Nationally Recognized • No. 21: Miramonte High School, Orinda • No. 48: Campolindo High School, Moraga
- 6. Living in Orinda World Class Graduate Programs • University of California at Berkeley • Saint Mary's College of California at Moraga
- 7. Living in Orinda • Bear Creek to Briones Crest Loop at Briones Regional Park • Sibley Volcanic Regional Preserve Exploration • Tilden Park • Lafayette Reservoir Picnics, Trails & Fishing Outdoor Activities Hiking & Biking
- 8. Living in Orinda Arts & Entertainment • 1.7 mile to Cal Shakes Shakespeare Theater • Lesher Regional Center for the Arts • 18 miles to San Francisco • Close to Major League Sports Franchises
- 10. Living in the Alhambra Valley Feels like you are 100 miles away from the hustle and bustle… Yet only just a few miles from town
- 11. Living in the Alhambra Valley Top 10 Cool Things about the Alhambra Valley area Historians have called John Swett the founder of public education in California. As a state superintendent of public instruction (1863-1867), he laid the groundwork for a statewide system of public schools in California and influenced educators in other states. He and his wife Mary Louise purchased a house into which they welcomed such visitors as John Muir. Later, at Muir’s suggestion, they purchased property in Alhambra Valley next to the Strentzel ranch. John Swett and his son Frank developed “Hill Girt Ranch” as a fruit ranch with specialization in grapes and grape juice, and John and Mary retired there in 1895
- 12. Living in the Alhambra Valley Equestrian paradise with access to 6,200 acres of open space and riding trails at Briones Regional Park Top 10 Cool Things about the Alhambra Valley area
- 13. Living in the Alhambra Valley Top 10 Cool Things about the Alhambra Valley area Designated scenic open space area protected by a conservation easement to the Muir Heritage Land Trust Abundant wildlife including fox, wild turkey, black-tailed deer, Red Tail and Cooper's hawks, White-tailed Kites and even cougar
- 14. Living in the Alhambra Valley Close to Briones Regional Park for hiking, mountain biking, equestrian activities Top 10 Cool Things about the Alhambra Valley area
- 15. Living in the Alhambra Valley A cyclists’ paradise along one of the famous East Bay routes used by the Tour of California Top 10 Cool Things about the Alhambra Valley area
- 16. Living in the Alhambra Valley Top 10 Cool Things about the Alhambra Valley area Wine country ambiance with over a half dozen vineyards throughout the Alhambra Valley area
- 17. Living in the Alhambra Valley Top 10 Cool Things about the Alhambra Valley area
- 18. Living in the Alhambra Valley Top 10 Cool Things about the Alhambra Valley area The Alhambra Christmas Tree Farm at the “T” intersection of Alhambra Valley Road and Reliez Valley Road The Tree Farm is located on the site of the former Griffin Ranch dating back to 1868
- 19. Living in the Alhambra Valley Top 10 Cool Things about the Alhambra Valley area Facebook.com/AlhambraValleyLiving Facebook.com/AlhambraValleyNeighborhoodWatch Alhambra Valley Improvement Association
- 20. Living in the Alhambra Valley Its legal for dogs to drive tractors in the Alhambra Valley …OK, not really Top 11 Cool Things about the Alhambra Valley area
- 21. Sell First - Then Buy versus Buy First - Then Sell Presented by Pete Sabine & Michael Moore Sell your home first – Then buy your next home Pros Certainty • You know exactly how much equity you have to apply for your next home purchase • If your home doesn’t sell for a high enough price – Stay put • Sell now for top dollar in a “Seller’s Market” • Rent back your from your buyer after closing Cons Uncertainty • Competitive “Seller’s Market” precludes contingency upon the sale of your current home • Anxiety from not knowing when and where your next home purchase will happen • Potential for costly “Double Move” storage and interim housing expenses • Limited supply of short term rental homes
- 22. Sell First - Then Buy versus Buy First - Then Sell Presented by Pete Sabine & Michael Moore Buy your next home first – then sell your current home Pros • Strengthens your negotiation position in a competitive “Seller’s Market” • Purchase offer is “non-contingent” upon the sale or closing of your current home • You know where you are moving and how soon you can take possession • Timing the sale of your current home with the possession of your next home to avoid a “Double Move” Cons • Purchase All Cash without financing ties up your resources in home equity • Financial resources required to qualify for financing to purchase your next home • Carrying cost for 2 homes until you can sell your current home
- 23. Contra Costa Living Your Local Community Forum How to buy your next home first and then sell your current home Presented by Cathy Gromacki Margaret Caddel Challenge #1 - Purchasing All Cash without financing ties up your resources in home equity Resource Options • Liquid assets • Pledge investment assets • Equity in your current home • Real estate holdings • Equity share
- 24. Step #1 - Meet to review your goals and life cycle stage Step #2 - Determine your qualified income sources Step #3 - Explore the best financing program solutions Contra Costa Living Your Local Community Forum How to buy your next home first and then sell your current home Presented by Cathy Gromacki Margaret Caddel Challenge #2– Financial Resources required to qualify for financing to purchase your next home
- 25. Determine your qualified income sources Self employed oComplex income tax returns oCorporate income tax returns Retirement / Pension accounts Assets under management RSU - Restricted Stock Units Rental property income Foreign income
- 26. Explore the best financing programs: 10% down payment up to $1.5M purchase price, w/o Mortgage Insurance ARM on new purchase to be paid off with a specific financial event Refinance “Cash-Out”– equity from your current home HELOC line of credit secured by your current home Assets under management Equity Share
- 27. Contra Costa Living Your Local Community Forum Presented by Cathy Gromacki Margaret Caddel Challenge #3 – Qualifying with 2 mortgages until you can sell your current home How to buy your next home first and then sell your current home • Convert your current home to a rental • Principle write down to re-amortize your home loan • Adjustable Rate Mortgage with a lower interest rate • List your current home with a Realtor® • Your business makes your mortgage payment
- 28. New home community presentation sponsored by… Thank you for attending! Contact us for a private consultation Pete Sabine Call 925.297.5335 Pete@ContraCostaLiving.com Michael Moore Call 925.289.8930 Michael@ContraCostaLiving.com Cathy Gromacki Call 925.212.5563 Cathy.Gromacki@homestreet.com Margaret Caddel Call 925.683.7030 Margaret.Caddel@homestreet.com
Editor's Notes
- Orinda - 12.8 square-mile City contribute to Orinda's aesthetic beauty. Natural beauty, excellent schools, safety, history, culture and close proximity to major San Francisco Bay locations and activities make Orinda a delightful place in which to work, live, visit and play!with nearly 18,000 residents where 92% of households own their homes. Roughly 77% of those residents have a bachelor’s or a higher degree.
- 4 data points: percentage of owner-occupied homes the crime rate; charitable giving; and the percentage of college graduates (research has found that college-educated folks typically display more civic engagement, with higher rates of voting and volunteering).
- More than 90 percent of students at this Orinda school are considered proficient at math and reading, with the average SAT score coming in at 2,010. In March, the median sales price in the 94563 ZIP code was $1.31 million, up 17 percent on an annual basis Campolindo High School students average SAT scores of 1,960, with more than 90 percent proficient at both math and reading. As of March, the median sales price for a single-family home in Moraga‘s 94556 ZIP code was $1.25 million, up 4 percent from a year ago.
- Saint Mary's College of California is a private, coeducational college located in Moraga, California, United States, a small suburban community about 10 miles east of Oakland and 20 miles east of San Francisco. Wikipedia It is the flagship campus of the University of California system, one of three parts in the state's public higher education plan, which also includes the California State University system and the California Community Colleges System. Address: 1928 St Marys Rd, Moraga, CA 94556 Acceptance rate: 69.5% (2013) Mascot: Gael
- Bear Creek to Briones Crest Loop at Briones Regional Park Trail loop from the Bear Creek entrance up to Briones Crest Trail and back. Staged out of the Bear Creek Entrance on Bear Creek Rd., approx 6 miles from Orinda. Large parking and picnic areas, great gravel lot for horse trailers, All the trails in this guide are fire roads with great footing and lots of room for all. Dogs are allowed in the park but must be under control at all times. Also note that this is a grazing... Sibley Volcanic Regional Preserve Exploration Moderate: 2.3 miles, 1-3 hours As sure as the earth moves in Berkeley, there's a volcano just off Skyline Boulevard. As sure as the earth moves in Oakland, there's a volcano just off Skyline Boulevard. Not just any volcano, mind you. This one's lying on its side with its guts exposed. You might not recognize it right away, owing to its reclining position and the grassy coat it's adopted. But among the shrubs and grasses at Sibley Volcanic Regional Preserve, you'll...
- Review your overall financial picture – you may be the person that has been investing for retirement all your life and feel you don’t have ‘cash’ laying around Determine Down Payment & Reserves for different types of loan programs Liquid assets Pledged assets under management Equity in current home Real Estate holdings Pledged Asset = to increase ‘down payment’, defer capital gains by retaining the investment strategy while receiving benefit from interest, dividends and investment growth. Minimum actual down is 10% of sales price; program requires 30%...the 20% difference comes from the qualified pledged assets.
- Will drill down on each topic
- Contrary to popular media…a mortgage is not difficult to get…you just need to Qualifying Solutions – Common Sense Underwriting for sophisticated borrowers HSB PORTFOLIO products Self employed – less than 2 years exceptions considered AND Vest in Entities AND use business funds Complex tax returns Corp returns Retirement / pension – stable fixed income Assets under management = Asset Depletion (no minimum age) $1M liquid assets borrower 73 yrs old – income = $14,249 Don’t want to create a taxable event, incur penalties or miss out on growth by moving assets RSU - Restricted Stock Units The Bay Area is full of Technology jobs!!! Many of the employers grant RSU to keep employees on staff; we’re from the home of Amazon and Microsoft in Seattle – we understand that RSU’s are real and can count them as income. Rental Income – Schedule E; OR Departing Residence if listed for sale do not count current mortgage in DTI OR No equity position required to count rent on departure res Foreign Income – Foreign Nationals and Non-Perm Residence from many countries China for instance; The kid is coming to Berkeley to go to school, Mom & Dad want to buy a second home to be near by. We have programs for that! we don’t need VISA or work permit – convert currency to dollars and document the funds. longest FNME relationship pilot program
- 10% to $1.5M purchase price, no MI Young family with increased future earnings; wife just had a baby and will be returning to work force in 6 months. ARM on new purchase to be paid off with specific financial event Your turning 70.5 years old the government requires you to take a certain percentage of your retirement = taxable event Refi cash-out current home – you have lived in your home 30 years and have a lot of equity - before you buy a new home, refinance to take cash out for down payment on the new property, or use it to make payment while carrying to properties HELOC on current home – same idea as a refinance maybe for a more short term solution. Assets under management - Equity Share
- Convert current residence to rental – If you close on your new home in December your first house payment is February. By the time your first payment is due you have renters covering your old mortgage payment. That pencils!! Principle write down – some programs will allow you do a one-time Principle write down - once you sell your departure residence then you take the proceeds and apply them to the current balance to reduce your monthly payment and carrying costs (re-amortize your loan) ARM – allows for a lower interest rate; EXAMPLE 1 - Let’s say the you were transferred here on a five year contract, with the proper exit strategy, a 5 year ARM or 7 year ARM may be the perfect solution. OR EXAMPLE 2 Your children will all be grown and moving out of the house in the four years and you want to right size so they cannot move back in with you…consider a 5/1 or 7/1 ARM! Current Home Listed – we do not have to count it in the debt to income qualifications of the new purchase; especially handy if you have true ‘cash under the mattress’ on hand to make payments or to pay for day-to-day living expenses. ‘Mattress money’ cannot be used as a qualifying asset. Business makes your mortgage payment – self employed borrowers can use business assets or working capital to cover additional carrying costs