CRESTICO, Author at Blog

California Proposition 5 & California Proposition 10

by CRESTICO | Oct 8, 2018 | CRESTICO

November 6, 2018 is around the corner and I am sharing two propositions affecting Real Estate properties with you.

California Proposition 5

Property Tax Transfer Initiative (“Prop 5”) concerns calculating property tax on owner-occupied replacement properties.

A “yes” vote on Prop supports amending Proposition 13 (1978) to allow homebuyers who are age 55 or older or severely disabled to transfer their tax assessments, with a possible adjustment, from their prior home to their new home, no matter (a) the new home’s market value; (b) the new home’s location in the state; or (c) the buyer’s number of moves.
A “no” vote opposes amending Proposition 13, 90 & 60, currently in effect, to change how tax assessments are transferred between properties for homebuyers who are age 55 or older or severely disabled.

California Proposition 10

Local Rent Control Initiative (“Prop 10”) concerns rent control for rental properties affecting tenants and landlords.

A “yes” vote supports allowing local governments to adopt rent control on any type of rental housing, thus repealing the Costa-Hawkins Rental Housing Act.
A “no” vote opposes the initiative, thus keeping the Costa-Hawkins Rental Housing Act and continuing to prohibit local governments from enacting rent control on certain buildings.

You can read more about each Proposition at the links below.

Read what they are all about. Make a decision and remember to vote!

Prop 5
- http://voterguide.sos.ca.gov/propositions/5/
Prop 10
- http://voterguide.sos.ca.gov/propositions/10/

Foot Notes

Prop 5 is in addition to initial prop 13 voted in 1978, Prop 60 voted in 1986 and prop 90 voted in 1988
For additional info on prior propositions, simply google “California Prop” and the number and read all about it.

2018 4th of July fireworks in Southern California

by CRESTICO | Jul 4, 2018 | CRESTICO

Alhambra– Almansor Park
800 Almansor St.
Family activities begin at 3 p.m; fireworks start at 9 p.m.
www.cityofalhambra.org

Avalon/Catalina
Parade, dinner and fireworks at the casino
4th of July Parade on Crescent Ave in Avalon begins at 1 p.m
Buffet dinner and concert with USC Marching Band begins at 6:15 p.m. (Tickets are $59 for adults, $29 for children)
Firework Display 9 p.m
Mardi Gras Party at El Galleon Restaurant featuring karaoke from 9:30 p.m. to 1 a.m
https://www.visitcatalinaisland.com/July4

Burbank– Starlight Bowl
1249 Lockheed View Drive
Gates open at 5:30 p.m.; live entertainment and fireworks
http://www.starlightbowl.com/4th-of-july-celebration/

Calabasas– Calabasas High School Football Field
22855 W. Mulholland Highway
Gates open at 5 p.m.; fireworks at 9 p.m.
Advanced tickets required; $10 per person
www.cityofcalabasas.com

Cerritos – Cerritos Civic Center
18125 Bloomfield Avenue
45th Annual Let Freedom Ring Celebration runs from 4 to 9 p.m. Fireworks show at 9 p.m.
www.cerritos.us/

Claremont – Memorial Park
840 N. Indian Hills Blvd.
Claremont, California 91711
Freedom 5000 Run/Walk 7:30 a.m – 10 a.m
4th of July Festival 10 a.m – 2 p.m
Parade at 3 p.m
http://www.ci.claremont.ca.us

Culver City– West Los Angeles College
Food trucks, carnival games, and live music
Gates open at 4 p.m
http://culvercityfireworksshow.com/

Diamond Bar
Diamond Bar High School Fireworks
5 p.m – 9:30 p.m
21400 Pathfinder Road
Diamond Bar, California 91765
https://www.diamondbarca.gov/764/4th-of-July-Blast

Downtown Los Angeles – Grand Park Block Party
Doors open at 3 p.m.
Fireworks at 9 p.m.
200 N Grand Ave
Los Angeles, CA 90012
https://july4.grandparkla.org/

Gardena
Rowley Park – 13220 S. Van Ness Avenue
Fireworks and food trucks
Food trucks open at 5 p.m; fireworks begin after dusk
https://www.facebook.com/events/1713226895379436/

Hollywood – Hollywood Bowl
July 4th Fireworks Spectacular: Daily, July 2 – July 4
Performance by the Go-Go’s and fireworks
2301 N. Highland Avenue
http://www.hollywoodbowl.com/

Irwindale
5050 N. Irwindale Ave.
Celebration starts at noon; Fireworks display at 9 p.m.
http://www.ci.irwindale.ca.us

La Crescenta – Crescenta Valley High School
4343 La Crescenta Avenue (main entrance off Prospect Avenue)
Gates open at 4 p.m (close at 8:30 p.m); fireworks at 9 p.m.
Pre-sale tickets are $7, $10 at the gate; kids 7 and under free
www.cvfireworks.com/

Lancaster
4th of July Fireworks Extravaganza
Gates open at 4 p.m.
Professional Bull Riders Touring Pro Division at 7 p.m
Free firework show at 9:30 p.m
Antelope Valley Fairgrounds
2551 West Avenue H
https://www.avfair.com/event/4th-of-july-professional-bull-riders-pbr-touring-pro-division/

Long Beach
The Queen Mary
1126 Queens Highway
Games, entertainment, fireworks, arts & crafts
Pre-sale tickets are $44.00 per adult (ages 12+); $24 per child (ages 4-11)
Tickets at the door are $39 per adult (ages 4-11)
http://www.queenmary.com/events/july-fourth/

Marina Del Rey
Fireworks launch at 9 p.m
View the show from either Burton Chace Park (13650 Mindanao Way) or Fisherman’s Village (13755 Fiji Way)
http://www.visitmarinadelrey.com/events/july-4-marina-del-rey/

Pacific Palisades – Parade, concert and fireworks
Parade and skydivers starts at 2 p.m.
Food/Concert gates open at 4 p.m; main stage concert at 6 p.m
Fireworks at 9 p.m
http://www.palisadesparade.org/

Pasadena – Rose Bowl Americafest
1001 Rose Bowl Drive
Festival begins at 2 p.m.; fireworks p.m.
Tickets start at $15
www.rosebowlstadium.com/events/detail/america-fest

Pomona – Fairplex
1101 W. McKinley Avenue
Gates open 5 p.m.
Motocross and monster truck show begins 8 p.m.
Fireworks show begins at 9:15 p.m.
General admission starts at $18.50
http://www.fairplex.com/events/viewevent?id=91d78827-1cc0-6ff9-9755-ff000057040b

Porter Ranch– Shepherd Church
19700 Rinaldi Street
Live entertainment, food vendors and fireworks
Doors open at 4:30 p.m
http://shepherdchurch.com/4th

Rosemead
Parade beginning at 10 a.m. (Valley Boulevard and Muscatel Avenue)
Carnival and food vendors; fireworks at dusk
http://www.cityofrosemead.org/news/what_s_new/4th_of_july_celebration

Santa Clarita/Newhall
4th of July Parade in Old Town Newhall
Parade starts at 9 a.m.
http://scvtv.com/category/parade/

Santa Clarita/Valenica – Westfield Valencia Town Center
Fireworks at 9:20 p.m.
santaclaritaguide.com

Six Flags Magic Mountain
26101 Magic Mountain Parkway
5-day Independence Day celebration
Fireworks all five nights, festive foods, and more
https://www.sixflags.com/magicmountain/special-events/july-4th

Santa Monica– 4th of July Parade
Main Street
Events 9:30 a.m.-12 p.m.
www.santamonica.com/fourth-of-july-in-santa-monica/

South El Monte– New Temple Park
4900 Southern Avenue
Celebration begins at 1 p.m.; fireworks at 9 p.m.
www.ci.south-el-monte.ca.us

South Gate– South Gate Park
4900 Southern Avenue
Fireworks display at 9 p.m.
www.cityofsouthgate.org

Sunland-Tujunga– Verdugo Hills High School
10625 Plain View
Live music, games and food
Gates open at 5 p.m. (close at 8:30 p.m.); fireworks shortly after 9 p.m
sunlandtujungafireworks.com/

Walnut
Suzanne Park
625 Suzanne Road
Live entertainment, pooch parade, food trucks and fireworks.
Fireworks start at approximately 9 p.m.
http://www.cityofwalnut.org/for-residents/city-events/city-special-events-summer

Woodland-Hills
Councilman Bob Blumenfield’s July 4th Fireworks Extravaganza
6 p.m. – 9:30 p.m.
For more information visit www.valleycultural.org/concerts-programs/july-4th-extravaganza/

Aliso Viejo
Grand Park
AVCA July 4th Celebration & Fireworks
Aliso Creek Road and Pacific Park Drive
6 p.m. – 9:30 p.m.
www.avca.net

Anaheim Hills
Canyon High School & Peralta Park
Firecracker 5K/10K Run/Walk at 7 a.m. at Canyon High track
Pancake Breakfast from 7:30 a.m. – 9:30 a.m. at Canyon High
Yankee Doodle Dog Show at 9 a.m. at Canyon High
4th of July Parade at 1 p.m. at Canyon High
Food booths & entertainment from 3 p.m. – 8:45 p.m. at Peralta Park; fireworks at 9 p.m.
http://www.anaheimhillscommunitycouncil.org/

Anaheim
Disneyland Resort
disneyland.disney.go.com/entertainment/disneyland/fireworks/

Dana Point
24650 Dana Point Harbor Drive
Fireworks Extravaganza at 9 p.m
www.danapoint.org

Doheny State Beach
25300 Dana Point Harbor Drive
Park hours are 6 AM to 10 PM; Fireworks start at 8:45 PM.
www.dohenystatebeach.org

Laguna Cliffs Marriott Resort and Spa
4th of July BBQ buffet and fireworks
25135 Park Lantern
5 p.m. – 8:30 p.m
Price: $89 for adults, $40 for kids 6-12
www.lagunacliffs.com/vue

4th of July Cruises from Dana Wharf Sportfishing and Whale Watching
Dinner and fireworks display cruises
Price starts at $29
https://danawharf.com/

Fullerton
Fullerton Union High School Softball Field
201 E Chapman Avenue
5 p.m. – 9 p.m.; fireworks at 9 p.m.
www.cityoffullerton.com/resident/community_events/4th_of_july.asp

Huntington Beach
Pier Plaza at Huntington Beach Pier
Parade at 10 a.m.
Fireworks at Huntington Beach Pier at 9 p.m.
www.hb4thofjuly.org/about-us.html

Irvine
Irvine High School stadium
4321 Walnut Avenue
Pyro Musical sky concert & Fireworks extravaganza
Gates open at 3 p.m.; fireworks at 9 p.m.
https://irvinepa.org/events/

La Habra
La Habra High School football stadium
4th of July Spectacular
801 W. Highlander Avenue
Gates open at 5:00 p.m; fireworks begin at 9:15 p.m.
www.lahabracity.com

Laguna Hills
Food, music, carnival games and more
Community Center & Sports Complex
25555 Alicia Parkway
4 p.m – 9:30 p.m; fireworks at 9:10 p.m
www.ci.laguna-hills.ca.us/calendar.aspx?eid=174

Laguna Niguel
Crown Valley Community Park
29751 Crown Valley Parkway
9 a.m -12 p.m Adult Lap, 12 p.m -5 p.m Rec Swim
Festivities 6 p.m – 8 p.m; fireworks at 9 p.m
http://www.cityoflagunaniguel.org

Lake Forest
El Toro High School
25255 Toledo Way
Kiwanis Pancake Breakfast 7 a.m – 10 a.m; $6 per person
PSTO CHARGERS 5K Run/Walk 7:30 a.m
Parade at 10 a.m; starts at the corner of Toledo Way and Ridge Route Drive and ends on Serrano at Ridge Route.
http://lakeforestparade.com/

Los Alamitos
Joint Forces Training Base
11200 Lexington Drive
Gates open at 4 p.m.; fireworks at 9 p.m.
cityoflosalamitos.org

Mission Viejo
Olympiad Road
Between Marguerite Parkway and Melinda Road
Noon – 9 p.m.; fireworks at 9 p.m.
cityofmissionviejo.org/

Newport Beach
Old Glory Boat Parade Event – Newport Harbor
7 a.m. – 9 p.m; fireworks follow
http://www.alyc.com/event-1774279

4th of July parade and fireworks cruises through Newport Bay
1 p.m. – 3:30 p.m.; 4 p.m. – 6:30 p.m.; 7 p.m. – 9:30 p.m.
Tickets start at $45
www.cruisenewportbeach.com/4thofjuly.html

Newport Dunes Waterfront Resort & Marina
1131 Back Bay Drive
Gates open at 8 a.m; fireworks at 9 p.m.
$50 per car
www.newportdunes.com/event/4th-july-newport-beach/

San Clemente
Independence Day Fireworks 9 p.m

7 Pier
622 Avenida Del Mar
san-clemente.org

Santa Ana
Centennial Park
3000 W. Edinger Avenue
4 p.m. – 9:30 p.m.; fireworks at 9 p.m.
www.ci.santa-ana.ca.us

Tustin
Tustin High School football field
1171 El Camino Real
6 p.m – 9:300 p.m
http://www.tustinca.org/default.asp

Yorba Linda
Yorba Linda Middle School
4777 Casa Loma Avenue
Festivities kick off at 5:00 pm – 10:00 pm; fireworks at 9 p.m
http://www.ci.yorba-linda.ca.us/

Beaumont
Stewart Park
653 East 9th Street
Celebration from noon to 9 p.m; fireworks to follow
www.ci.beaumont.ca.us/

Corona
Santana Park
598 Santana Way
Main street parade begins at 9 a.m
Celebrations 4 p.m- 8:30 p.m; fireworks to follow
https://www.coronaca.gov/Home/Components/News/News/2740/528 /

Palm Desert
Palm Desert Civic Center Park
43900 San Pablo Ave
Evening kicks off at 7:15 p.m; fireworks at 9 p.m
http://www.palm-desert.org

Palm Springs
Palm Springs Stadium
1901 E. Baristo Road
Fireworks to follow the baseball game
www.visitpalmsprings.com

Riverside
Evergreen Memorial Historic Cemetery
14th and Pine Street
5 p.m. – 9:30 p.m.
General Admission: $5
Pre-sale tickets available online
http://evergreen-cemetery.info/event/front-row-fireworks/

San Jacinto
Valley Wide Regional Park
901 Esplanade Avenue
Fireworks start at 9 p.m.
https://www.gorecreation.org/

Temecula
4th of July Parade will start at Old Town Temecula at 10 a.m
Entertainment from 2 p.m – 9 p.m at Ronald Reagan Sports Park; fireworks to follow
temeculaca.gov/1087/4th-of-July-Extravaganza

Big Bear
Fireworks over Big Bear Lake
Fireworks start at 8:45 p.m
http://www.bigbear.com

Fontana
Fontana High School
9453 Citrus Avenue
6 p.m – 9:30 p.m
www.fontana.org

Redlands
Daytime activities at Sylvan Park
Festivities start at 9 a.m.; parade starts at 10:30 a.m.
Fireworks celebration at University of Redlands
Gates open at 6 p.m.; show starts at 7 p.m. with fireworks at 9 p.m.
www.redlands-events.com/July4.htm

San Bernardino
Baseball game and fireworks July 4
Watch the game then stay for fireworks
Game starts at 7:05 p.m., followed by 4th of July fireworks display
Tickets between $5-$15
280 South E Street
http://www.milb.com/index.jsp

Yucca Valley
56525 Little League Drive
Gates open at 6 p.m.; fireworks at 9 p.m.
www.yucca-valley.org/departments/sp_events.html

Camarillo
Camarillo High School stadium
4660 Mission Oaks Boulevard
Gates open at 4 p.m.; fireworks at 9 p.m.
http://www.ci.camarillo.ca.us/

Fillmore
Sespe Creek Car Show and Fireworks
300 Block Central Avenue
Car show from 9 a.m. – 3 p.m.
Fireworks launched from Fillmore High School at 9:15 p.m.
www.conejovalleyguide.com/welcome/4th-of-july-fireworks-parades-and-other-events-around-ventur.html

Ojai
Nordhoff High School stadium
Concert and fireworks
1401 Maricopa Highway
Gates open at 5:30 p.m.; fireworks at 9:15 p.m.
www.4thofjulyinojai.com/

Oxnard
Channel Islands Harbor
channelislandsharbor.org/thingstodo/events/2017/FourthofJulyFireworksbytheSea17.htm

Simi Valley
Ronald Reagan Presidential Library
40 Presidential Drive
Family fun and food
10 a.m. – 3 p.m.
www.conejovalleyguide.com

Rancho Santa Susana Community Park
5005 E Los Angeles Ave
Simi Valley, CA 93063.
https://www.conejovalleyguide.com

Thousand Oaks
The Oaks Mall
350 W. Hillcrest Drive
http://www.shoptheoaksmall.com/Events/Details/448464

Westlake Village
47th Annual Westlake Village 4th of July Parade, Fairytales in the Park, fireworks and more!
wlv.org/index.aspx?NID=366

Self-Directed IRAs: A Smarter Way to Invest in Real Estate

by CRESTICO | Apr 19, 2016 | CRESTICO, Mortgage

moneygrowth For more than three decades, The Entrust Group has provided account administration services for self-directed retirement and tax-advantaged plans. The Entrust Group continues to assist people in purchasing alternative investments with their retirement funds, administering the buying and selling of assets that are typically unavailable through banks and brokerage firms such as Real Estate.

The Entrust Group even created its own Real Estate IRA Center for individual investors and real estate professionals who wanted something more from their IRAs. The aim of the program? To help break down the Real Estate IRA investment process, explain the paperwork required, and walk people through the various IRS regulations.

It was back in the early ’80s when Bill Keller, a broker with Coldwell Banker in the Napa Valley region, first became familiar with The Entrust Group as his interest in assets, such as residential and commercial real estate and other non-traditional investments, continued to grow.

“I was looking for some way to do my own investment, self-directed, and I couldn’t find anything like that,” says Keller. “Whenever you looked into retirement, you had to buy stocks, and I wasn’t a big fan of that,” he adds. “I wanted to do my own thing. I discovered The Entrust Group and learned that I could do some investments on my own.”

For almost three decades, Keller has been a happy client of The Entrust Group, and being in the real estate game himself, he understood the money he could make by investing in real estate. Still, while investing in real estate with a self-directed IRA isn’t too different from a regular real estate purchase, Keller needed guidance regarding the rules and processes that had to be followed to do it right.

“I started with notes and deeds of trust, and I was able to really build up my retirement portfolio,” he says. “There were never any problems. It worked so well that I convinced most of my associates to open up an account with The Entrust Group, and many of us have bought notes together thanks to their help.”

In the beginning, Keller had a dedicated agent on behalf of The Entrust Group who was very knowledgeable about the business, and these days, he says The Entrust Group’s entire team is just as aware of what’s going on. In fact, Keller feels that service is one of the key features that makes the company stand out.

“They are always responsive and get the job done,” says Keller. “They knew what we wanted to accomplish, were willing to listen and make things work for us. They are flexible and accommodating.”

Keller estimates that he has done more than 100 deals with The Entrust Group over the years, and has seen his retirement portfolio grow exponentially.

“It’s so important to get started on planning for retirement, and the sooner you do, the easier it is,” says Keller. “These folks know all about it, and have made a big difference for me.”

Find out how you can generate more referrals, leads and repeat business with your free download of How to Help Your Clients Invest in Real Estate Tax-Free.

For more information, please visit www.theentrustgroup.com.

Short Sale: California’s Transition Assistance Program

by CRESTICO | Dec 5, 2013 | CRESTICO, Mortgage, Real Estate

Distressed California Homeowners May Qualify for California’s Keep Your Home California Transition Assistance Program (TAP)

If your financially distressed California clients can no longer afford their homes and are pursuing a short sale or a deed in lieu of foreclosure, they may be eligible for financial help with their relocation to alternative housing.

The funds come from the Transition Assistance Program (TAP), part of the Keep Your Home California Program.

The state of California is providing up to $5,000 in transition assistance to qualified homeowners who can no longer afford to stay in their homes. You can help by advising your distressed clients that they must:

Apply for the funds through their state’s website or by calling 1.888.954.5337.
Maintain their property until their house is sold or returned to the lender via a negotiated deed in lieu of foreclosure.

For qualified homeowners, these state funds may be used in addition to any other transition assistance that the homeowner may receive by participating in the Federal Home Affordable Foreclosure Alternatives (HAFA) program or in any other pre-offer short sale program.

To learn more about the Transition Assistance Program’s guidelines, and how your clients may qualify, please visit that program’s website at http://keepyourhomecalifornia.org. You can also direct your clients to call 1.888.954.5337 and identify themselves as Bank of America customers

Waiting Periods Have Changed To Qualify For A New Mortgage

by CRESTICO | Aug 21, 2013 | CRESTICO

The Federal Housing Administration is making it easier for once-struggling homeowners to qualify for a mortgage backed by the agency.

For borrowers who meet certain requirements, the FHA is trimming to one year the amount of time that homebuyers must wait after a bankruptcy, foreclosure or short sale before they may qualify for a FHA-backed mortgage.

The waiting period had been two years after the completion of a bankruptcy and three years after a foreclosure or a short sale.

But only certain consumers who’ve been in those circumstances will be able to meet the criteria attached to the eased restrictions. Borrowers must be able to show their household income fell by 20 percent or more for at least six months and was tied to unemployment or another event beyond their control. They also must prove they have had at least one hour of approved housing counseling and, among other things, have had 12 months of on-time housing payments.

“FHA recognizes the hardships faced by these borrowers, and realizes that their credit histories may not fully reflect their true ability or propensity to repay a mortgage,” said FHA Commissioner Carol Galante, in a letter to mortgagees announcing the changes.

FHA-backed mortgages are a popular option for first-time buyers and for consumers with lower credit scores who might not otherwise qualify for a loan backed by Fannie Mae or Freddie Mac. However, the agency has recently increased the fees tied to FHA-backed loans.