Sue Vanzant's Blog

“Walkable” Communities are becoming more important to some buyers.   Worry about future gas prices and commute times is a concern for baby bommers, first time buyers, etc.   To find out a property’s Walk Score let’s talk.   For example  I checked out 4100 obispo Ave., Lakewood, CA (at Carson St.)   It’s walk score is 83 on a scale of zero to 100.   That score would be higher but Long Beach Transit doesn’t share its site, therefore its bus service along Carson Street is not part of the equation.   Lakewood’s average score is 67. Again, that score would be higher but the city is served by Long Beach Transit and milage to the public transportation stops could not be computed.

A score for “over 55″ complexes and communities can be computed.   Active “over 55s” may  want to know how easy it is to reach stores, services or entertainment.   Also, anyone of any age that does not want the expense of owning a car or second car may may want to find the walk score before looking seriously at a particular property.

The scores take into account closeness to schools, shopping, big box store, entertainment, restaurants, hardware store, public transportation, etc.   Some feel that the value of a property should be higher if it has a high walk score.   However, until that is included as an appraisal item that will not happen.   it could help buyers decide between homes if “walkability” is important to a buyer.

Lately I have noticed that many lenders are pushing Reverse Mortgages to people that are 62 years and older. There are ads on every TV and radio station, letter campaigns to home owners, seminars for the age group in hope of signing home owners up.

WHAT IS A REVERSE MORTGAGE? It is a loan that allows you, the home owner, to have some monthly income – or a lump sum – that doesn’t have to be paid back until the home is sold, the owner is out of the house more than 12 months or the owner passes away.

GOOD THINGS ABOUT A REVERSE MORTGAGE…

• Arrange in-home care
• Supplement monthly income
• Pay off credit cards, back taxes, existing mortgage
• No restrictions on use of funds
• You make no payments on this loan until you sell the property, if the loan is properly set up.

WHAT ARE REVERSE MORTGAGE RED FLAGS?

• Initial cost of loan is not cheap (included in the loan).
• House must be sold if owner is out of it more than 12 months.
• Loan will be a monthly or annual Adjustable Rate Mortgage.
• Loan officer may try to persuade you to get this loan to take a trip, etc.

Remember that the amount of your loan must be paid back. The equity in your home will be it’s market value less the reverse loan amount at the time of the sale.

Call me for a consultation. this could be a great thing for you or very wrong for you. I am a Seniors Real estate Specialist and can help you learn more about the right thing for you.

Sue Vanzant 562-208-6314

This is my California Department of Real Estate license number.   We are required to post our license numbers for the public.   So, here it is.   This blog set up doesn’t have a place for it.     Sue Vanzant, REALTOR, SRES, SFR

 PRICES UPDATED 5/15/2009

  I was pleasantly surprised at the beauty of the grounds and buildings at this well thought out senior community.   I live in Long Beach which is mostly flat, flat, flat.   Here, there are small, rolling hills with nicely wooded landscaping with much to catch your eye.   Actually, there are over 2000 trees on the fully landscaped grounds. I was impressed by the quietness in much of the community.  Staff member that  I met was courteous and helpful.

This community was built and is managed by the same company that does the Huntington Beach Landmark Adult Community.   I made my visit at the end of January, 2008.   As usual my husband Von went along to help point out features that I might miss and give a non REALTOR’s point of view.  

This is perfect for those that want more from their retirement community.   It has so many amenities that you would think you lived in a resort yet the HOA monthly dues are under $300.  There is a  guard house at the entrance with 24 hour service.  Here are some of the  activities and buildings for owners’ use: Olympic size pools, tennis courts, putting green, sauna, firepit, gazebo, clubhouse, gym, library, craft room, wood shop, billiard room, etc. etc.

The community is conveniently located to the La Mirada Golf Course, City Hall, Library, Theater, and shopping centers.   There is so much to keep you active and interested.

I was lucky enough to talk with Kristin Farson, the Activities Director.   She was very gracious and talked with me at length about the many programs, activities and tours that are available to the residents of Landmark.   She said there were many owners that were not yet retired, but had made the decision to buy before 65 and settle in.   Also,   since you can purchase with a down payment and get a loan it would give one the chance to pay off the mortgage before retiring.   Makes a lot of sense.  

Ms. Farson is up to date on most aspects of senior living.   In fact, she hosts a weekly radio show called “BETTER TIMES AFTER 50″ on Advice Radio which is broadcast in her local area.  It is a relaxed format with guests talking about senior issues and programs.  Since I am a Seniors Real Estate Specialist she invited me to come on her show – but first I have to find a way to not be tongue tied when a microphone is put in front of me!    

You can look up Advice Radio at AdviceRadio.com with headquarters in Whittier.  

I took a look at 6 different style units.   There are some 2 story buildings.   There are no elevators in these units.   But, I did note that one resourceful owner had installed an electronic lift that went up the side of the stairs along the inside of the railing.

The units feel roomy.   Even the 1 Bedroom/1 Bath unit had 872 Sq Ft. I saw felt like there was enough room for daily living. There are also 2 Bedroom/2 Bath and 3 Bedroom/2 Bath units.       Very attractive.   Most are bright and feel open when walking through them.   The prices  of available  units as of May 15, 2009 ranged from $190,000 to $305,000.     1 Bedroom/1 Bath units  with 807 Sqft. to 875 Sqft  were $190,000 to $230,000.  2 Bedroom/2  Bath units  with 1,025 Sqft to 1,155 Sqft. ranged from $222,900 to $305,000.   Of course, there were differences in the appliances, flooring, etc. just like any other type of community, so there is a variety of prices.   Most looked up to date and attractive.

Proposition 60 and 90 can be used here.   Remember that  all of  Los Angeles County (and Orange County) still offer “Over 55s” to take their lower property taxes with them when they sell and buy another in these counties if the purchase is for less than the sale of the former primary residences.   This could save you a bundle annually.   Call me 562-208-6314 for more information on these propositions.   Or, check out the favorite links on the web site www.suevanzant.com.  

A few words about my photos. My picture taking and photo entry is improving some.  Though sometimes the pictures don’t appear in the order above that I think I am entering.  I seemed to have entered one picture three times and I can’t figure out how to delete them.  Also, this is an example of what happens sometimes. This is one of my famous pictures of parking lot pavement.  

  Thank goodness I am improving some!

Any time you would like to take a tour of this or any other senior community I would be glad to arrange it.   I am here to assist you in your search for the perfect place for you. 562-208-6314 , or my office at Century 21 Beachside, Realtors 562-430-2121 or sue@suevanzant.com.

Check out www.27762paguera15.com.   Urban Industrial Chic goes Suburban.   3 bedrooms/2 1/2 Baths. Open floor plan townhome with 2 car attached garage!   1781 Sq. Ft.   Recently ungraded.   See the pictures of private beach, dock, picnic area and all the many features of the home.   This community welcomes all ages.  

Keeping the seats warm  in real estate classes is a must  for modern day REALTORS.  We must have the knowledge to  guide our clients through the ever changing paths in the real estate market.

I have completed the classes to become a  Certified Short Sale Foreclosure Resource or SFR.    The  National Association of REALTORS (NAR), of which I am a member,  confers this designation.    

NAR offers this certification because the organization believes  REALTORS should know what they are doing when representing buyers and sellers that are involved in a short sale or purchase of a foreclosed (REO) property.    These sales  have more steps to  them, they often have their own contracts, etc.  There are  things about these  types of sales  that agents without the study and classes  may think they know  but don’t. In the end they may  leave their clients vulnerable after the close of escrow.  So a REALTOR  that knows about these processes  is a value to buyers and sellers.      

A consultation before beginning a short sale or making a purchase of a short sale or REO is a very good start for sellers and buyers.   I am available for such a consultation.

The following disclaimer is now required of all real estate brokers that engage in assisting owners and listing property for “Short Sale”:

1. **Taylor Young Real Estate & Inv. is not associated with the government, and our service is not approved by the government or your lender.
2. Even if you accept this offer and use our service your lender may not agree to change your loan.

Regency Terrace. 11410 Dolan Ave., Downey, California.   I visited this “Over 55″ building on January 30, 2008 with my husband.   There is one building at  this site with all levels served by elevators.

It is close to Stonewood Shopping Center and all the businesses, restaurants  and entertainments surrounding the shopping center.There is plenty to do in this area.

Downey Regional Hospital is very close by.

This coplex is served buy the Dial A Ride bus with pick ups in front of the building.

This building is good for “Over 55s” that who do not want to do a lot of work and upkeep for their living spaces. They prefer to spend their time doing other things.

I walked through all the different floors of the building. I visited one unit, but is is a good example of what the building has to offer. There is a Club Room, Fitness Center, Pool and Spa and lounges.

The unit has lots of natural light and 1 bedroom/1 bath with 573 Sq Ft.   There are larger units, but only 2 units were for sale the day I was there.   That would suggest that people like living there.

The unit was very compact and well laid out.   There was even a stacked washer/dryer so you wouldn’t have to leave your home to do your laundry.   The kitchen area had everything you need for preparing and serving meals with a stove, microwave and dishwasher.

The price was $197,500 with HOA dues of $172 per month. Dues included trash, water, Building and landscaping maintenance.    Entry into the individual units are from inside hallways.   The building has a keyed entrance.   The parking is beneath the building at ground level with garage door openers for entry.

Night time views along the water in Long Beach, California are sometimes breathtaking.  Residents and visitors alike are provided Christmas “eye candy” that other cities might envy. Resident Cathy Hoang took these pictures at Shoreline Village’s  downtown marina.

A visit to Shoreline Village must include a visit to the merry-go-round and a little shopping or dining at the many restaurants such as Parker’s Lighthouse with its fabulous views or the excitement of the Yard House and others.

Cathy took these Chrstmas Tree pictures standing on the Appian Way bridge looking up along Bay Shore Drive.   Jann Vanzant assisted her on the cold and crystal clear night.   Those that are lucky enough to live along Appian Way or Bay Shore Drive are treated to a nightly light show.   Visitors can reach Appian Way from 2nd Street in the Naples-Belmont Shore area of Long Beach.

The lights are turned on the first Saturday or Sunday of December and  are turned off around New Year’s Eve. Then  the trees are put away for the next year.   Another reason to live in or visit Long Beach, CA.

Regency Terrace. 11410 Dolan Ave., Downey, California.   I visited this “Over 55″ building on January 30, 2008 with my husband.   There is one building at  this site with all levels served by elevators.

It is close to Stonewood Shopping Center and all the businesses, restaurants  and entertainments surrounding the shopping center.There is plenty to do in this area.

Downey Regional Hospital is very close by.

This coplex is served buy the Dial A Ride bus with pick ups in front of the building.

This building is good for “Over 55s” that who do not want to do a lot of work and upkeep for their living spaces. They prefer to spend their time doing other things.

I walked through all the different floors of the building. I visited one unit, but is is a good example of what the building has to offer. There is a Club Room, Fitness Center, Pool and Spa and lounges.

The unit has lots of natural light and 1 bedroom/1 bath with 573 Sq Ft.   There are larger units, but only 2 units were for sale the day I was there.   That would suggest that people like living there.

The unit was very compact and well laid out.   There was even a stacked washer/dryer so you wouldn’t have to leave your home to do your laundry.   The kitchen area had everything you need for preparing and serving meals with a stove, microwave and dishwasher.

The price was $197,500 with HOA dues of $172 per month. Dues included trash, water, Building and landscaping maintenance.    Entry into the individual units are from inside hallways.   The building has a keyed entrance.   The parking is beneath the building at ground level with garage door openers for entry.