'Valley Center' Category
AMGEN Tour of California is Coming to San Diego County
February 21st, 2009 Categories: Brookside Escondido, Del Sur, Entertainment, Escondido, Rancho Bernardo, Valley Center
We’re excited about the AMGEN Tour of California coming to Escondido. The City of Escondido is projecting there will be over 25,000+ people in attendance. For those of you who do not know what the AMGEN Tour of California is, please read the article below.
About the Tour
The largest cycling event in America, the 2009 Amgen Tour of California is a Tour de France-style cycling road race presented by AEG that challenges the world’s top professional cycling teams to compete along a demanding, recently expanded, 800-mile course from Sacramento to Escondido from February 14-22, 2009.
The final leg of the race will run from Rancho Bernardo to Escondido on Sunday, February 22, 2009. The race finish line will be located in Downtown Escondido at the intersection of Grand Avenue and Broadway.
AMGEN Lifestyle Festival
The Lifestyle Festival will be located near the finish line in Municipal Parking Lot #1 (on Valley Parkway between Broadway and Escondido Boulevard) on Sunday, February 22, from Noon-6:00 p.m., in Downtown Escondido.
There is no better place to experience the spectacle of race day than at the Lifestyle Festival. The festival will feature a health & fitness expo, cancer awareness education, cycling gear, family activities, bike safety, food, entertainment and more! There will be plenty to see and do for everyone in your family!
Route Map
2009 Tour of California – Rancho Bernardo to Escondido – Stage 8
Find more Bike Rides in San Diego, California
Street Closures for the City of Escondido
| Street Closures Saturday, February 21-Monday, February 23, 2009 |
|---|
| Grand Avenue from Maple to Kalmia; Maple & Kalmia between Valley Parkway & 2nd Avenue will be closed from 6 a.m. Saturday, February 21, to 5 a.m. Monday, February 23. |
| Broadway between 2nd Avenue & Valley Parkway will be closed from 8 p.m. Saturday, February 21, to 12 a.m. Monday, February 23. |
| Grand Avenue between Escondido Boulevard & Juniper; Grand Avenue cross streets between Valley Parkway to 2nd Avenue will be closed from 8 a.m. Sunday, February 22, to 5 a.m. Monday, February 23. |
| Rolling Street Closures Sunday, February 22, 2009 | |
|---|---|
| Bear Valley Parkway between San Pasqual Valley Road & East Valley Parkway |
Noon-1:15 p.m. |
| East Valley Parkway between Bear Valley Parkway & Lake Wohlford Road |
12:15 p.m.-1:15 p.m. |
| North Lake Wohlford Road between Valley Center Road & El Norte Parkway |
2:30 p.m.-4:30 p.m. |
| El Norte Parkway between Washington Avenue & Escondido Boulevard |
3:00 p.m.-4:45 p.m. |
| Escondido Boulevard from El Norte to Grand Avenue | 2:30 p.m.-4:30 p.m. |
Street Closures: (760) 839-4691
Amgen Tour: www.amgentourofcalifornia.com
Detailed Event Info: www.sandiegonorth.com/amgen
Best Viewing: www.sandiegonorth.com/amgen/best_viewing.html
Shuttle Service: www.sandiegonorth.com/amgen/parking.html
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Great News! Fannie Mae To Allow Up To 10 Financed Properties Again!
February 12th, 2009 Categories: Brookside Escondido, Carlsbad, Foreclosures & Short Sales, Market Trends, Mortgage News, Poway, Rancho Bernardo, San Marcos, Santa Fe Valley, Valley Center
One of the biggest hurdles many solvent investors have had these days is Fannie Mae’s (FNMA) limitation on the number of one- to four-unit financed properties. This limit dropped to four properties over the last year or so, which has hamstrung many investors looking to add to their real estate portfolio.
However, according to FNMA Announcement 09-02, borrowers may now have up to ten financed properties without having to pay the higher rates of private or hard-money resources. In the current lower price and low rate environment, this increased limit is an extremely beneficial change.
For those looking to purchase more properties, this new limit also comes with some new guidelines:
- Minimum credit score is 720
- The borrower(s) cannot have had a bankruptcy or foreclosure in the past seven years
- There can be no mortgage delinquencies (30-days or greater) within the past 12 months on any mortgage loan
- Maximum loan to value is 75% for purchase of a 1 unit second home or investment property
- Maximum loan to value is 70% for purchase of a 2-4 unit investment property
- Full income documentation is required including most recent two-year’s IRS 1040′s
- Refinances are allowed on a no cash-out basis and with a loan to value limit of 70%.
FNMA’s announcement also outlined new reserve requirements:
“When the borrower will own one to four financed properties (including the subject property) the reserve requirements are:
- two months of reserves on the subject property if it is a second home
- six months reserves on the subject property if it is an investment property, and
- two months reserves on each other financed second home or investment property.
When the borrower will own five to ten financed properties (including the subject property) the reserve requirements are:
- two months reserves on the subject property if it is a second home
- six months reserves on the subject property if it is an investment property, and
- six months reserves on each other financed second home or investment property.“
Keep in mind, that a month’s reserve encompasses the total housing expense including principal and interest, property taxes, property insurance, HOA’s, Mello Roos, etc., not just the loan payment.
Now, six months reserves for up to ten properties might seem a little steep, but this is an important step in the continuing effort to rebuild a solid home-ownership base. You want to buy a bunch of property? Then you better be able to show that you can afford to do so. Sounds fair to me.
If you would like to discuss this topic further, please email me at Kevin@MyCWMtg.com
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Three Reasons To Visit Our Latest Listings
August 7th, 2008 Categories: Escondido, Rancho Bernardo, Real Estate News, Valley Center
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