San Juan Capistrano Starts Five Week Gas Line Project…
March 31, 2009
The City of San Juan Capistrano announced late last week that work begins Sunday on a roughly 5-week Southern California Gas Co. project to replace a gas line on Ortega Highway, resulting in lane closures and some nighttime traffic delays.
The work, which starts at 10 p.m. March 27, entails excavating to replace roughly 1,200 feet of gas line on Ortega Highway from the I-5 Freeway ramps to El Camino Real and on El Camino Real from Ortega Highway south roughly 250 feet.
Traffic control will be set up on Ortega Highway from Rancho Viejo Road over the freeway to El Camino Real. Travel lanes on Ortega and El Camino Real will reopen daily at 5 a.m.
For a map of the area’s referenced above, click here…
For more information, contact…
Ken Carlson
909-947-8940.
City of San Juan Capistrano/ Railroad Work & Street Closings in April…
March 26, 2009
Metrolink will perform maintenance work at three railroad crossings in April, forcing the closure of Oso Road, La Zanja and Avenida Aeropuerto intersections and requiring motorists to take alternate routes. Detours will be posted for the streets, which are located on the west side of town, and Metrolink will notify residents of the closures.
Avenida Aeropuerto
Avenida Aeropuerto, which is a single-access street, will be closed from 9 p.m. to 7 a.m. on Friday, April 3. It will reopen through a temporary construction lane from 7 a.m. to 9 p.m. Saturday, April 4, before closing that night from 9 p.m. to 7 a.m. The street reopens at 7 a.m. on Sunday, April 5. Businesses and residents on the west side of the railroad tracks should expect traffic delays. Metrolink officials will take measures to ensure emergency access is available during construction.
For a map of the Aeropuerto work, click here…
Oso Road
Oso Road will be closed from 7 p.m. Saturday, April 18 through 9 p.m. Sunday, April 19. The Oso Road closure will detour weekend traffic along Avenida De La Vista to La Zanja Street.
For a map of this area, click here…
La Zanja Street
La Zanja Street will close at 7 p.m. Saturday, April 25 and reopen at 9 p.m. Sunday, April 26. Motorists will be diverted to Oso Road through Avenida De La Vista.
For a map of this area, click here…
For information about the closures, contact…
Metrolink
213-452-0288
lopezl@scrra.net
33771 Killarney, San Juan Capistrano…
March 19, 2009
   MLS # s567525
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Buy New Construction in California, Receive $10,000 State Tax Credit…
March 16, 2009
New Tax Credit for New Construction Purchases between March 1, 2009, and March 1, 2010
For full description of program, click here…
For a copy of Form 3528-A, click here…
Per the California Franchise Tax Board…
California allocated $100,000,000 for this tax credit. Buyers must apply for credit allocation from us. Applications will be reviewed and credit allocations will be made on a first-come, first-served basis. Once $100,000,000 has been allocated, the tax credit will no longer be available.
For updates on the allocated and remaining credits available, click here…
Starting March 1, 2009, we will accept applications for allocation of credit by fax only… (916) 845.9754… however, we will not send notifications of credit allocation until we have developed procedures. Once we begin processing allocation applications, credits will be allocated on a first-come, first-served basis. We will update this page as soon as we begin mailing credit allocation letters. We plan to begin mailing credit allocation letters no later than May 1, 2009. This delay is necessary to allow us time to develop a system to capture and verify the application information, allocate the credits, and send the credit allocation letters. Please be patient with us and do not send applications more than one time. (Updated 03/06/09)
Long and short…
This tax credit is available for qualified buyers who on or after March 1, 2009, and before March 1, 2010, purchase a qualified principal residence that has never been occupied. The buyer must reside in the new home for a minimum of two years immediately following the purchase date.
Qualified Buyers…
A taxpayer who purchases a single-family residence, whether detached or attached, that has never been occupied, that is purchased to be the principal residence of the taxpayer for a minimum of two years, and that is eligible for the homeowner’s exemption under California Revenue and Taxation Code Section 218.
Qualified Principal Residence/New Home…
A qualified principal residence means a single-family residence, whether detached or attached, that has never been occupied and is purchased to be the principal residence of the taxpayer for a minimum of two years and is eligible for the property tax homeowner’s exemption.
Quotes from BusinessWeek…
For full Business Week article, click here…
Says Layne Marceau, President Of Shea Homes’ Northern California Division…
This is something that our industry has been desiring to have for quite some time…” “… homebuilding is an economic engine. The whole intent here is to stimulate sales activity, the ability to start housing projects again, get the state economic engine moving again. We believe the housing industry is the catalyst to do that.”
Senior VP for Government Affairs for The California Building Industry Association, Tim Coyle states…
“Already, With The News Of This Tax Credit Being Authorized, We’re Beginning To See Interest.” “What we’ve been missing in the market place for the last couple of years are people … Already, with the news of this tax credit being authorized, we’re beginning to see interest among those people who we desperately need to have confidence to return back to housing markets where they haven’t been for so long. We think this tax credit will do that.”
“Back in 1975, the U.S. Congress enacted a tax credit identical to this one and it worked. It stimulated sales, doubled sales within a year.”
San Juan Capistrano Proposal for Levee Protection/ Public Invited…
March 11, 2009
The City of San Juan Capistrano has invited the public, on March 31, to attend a presentation regarding proposed flood control improvements to San Juan Creek and Trabuco Creek Channels. The presentation, hosted by the Orange County Public Works Department, will take place at 7 p.m. at…
San Juan Capistrano Community Center
25925 Camino del Avion
San Juan Capistrano, CA 92675
Residents are encouraged to attend the meeting and learn more about the second and third phases of the proposed San Juan Creek and Trabuco Creek Channels Levee Protection Project. Discussion will focus on flood control levee stability; proposed steel sheet piling on the east and west embankments; and a temporary bikeway closure.
For more information, call project engineer Giatho Tran at 714-834-6042.
City of San Juan Capistrano Water Bond w/ AA Fitch Rating…
March 9, 2009
11.1 Million Dollar Water Bond…
No, says the City of San Juan Capistrano, your water bill is not going to go up.
Well jeepers, that’s great news in light of all of these mis-management stories going around on the state and national levels.
Check out this breath of fresh air, posted on the city’s website…
For full article, click here…
City officials learned this week that the City’s revenue certificates of participation (bonds) have received an AA- rating, with a stable outlook. The rating comes from Fitch Ratings, Ltd., an international credit rating agency founded in 1913. Fitch’s long-term credit ratings are set up along a scale from AAA to D.
The $11.1 million in bonds pertain to the City’s potable water system. The bonds are payable from the City’s current water system revenues based on the current rate structure and will not require any increase in rates.The ‘AA-’ rating is based on the system’s good financial performance in terms of repaying its debts, liquidity, adequate rate flexibility and stable service area. The positive rating puts the City in a favorable position for a competitive sale scheduled on March 31.
Proceeds will finance the City’s share of the Chiquita Emergency Storage Reservoir, fund additional wells and improvements associated with the City’s Groundwater Recovery Plant, and finance other system-wide capital projects, etc. As the state’s drought continues – limiting the availability of imported water to the region – the City’s Groundwater Recovery Plant is a key component of San Juan Capistrano’s local water supply, producing half of the community’s needs. Most of South County relies 100 percent on imported water supplies.
The City’s capital plan revolves around developing recycled water sources and the full operational use of the groundwater recovery plant to decrease the City’s reliability on imported water even more.
South Orange County Deals are Everywhere…
February 25, 2009
REO’s Driving the Market…
Kelli Hart at the South Coast Homes blog just posted a new article pertaining to drops in south county home pricing driven by REO listings. This short article includes the chart below. Click here for the full story…
Feeding Frenzy in San Juan…
If you thought the days of multiple purchase offers on MLS listed properties were over, check out this article on San Juan Capistrano REO properties.
Percentage of Distressed Home Sales in 10 South County Cities
| City | Listed | distressed | % |
|---|---|---|---|
| Aliso Viejo | 241 | 137 | 56.8 |
| Dana Point | 284 | 56 | 19.7 |
| Irvine | 679 | 217 | 32 |
| Ladera Ranch | 188 | 96 | 51.1 |
| Laguna Beach | 345 | 24 | 7 |
| Laguna Hills | 155 | 78 | 50.3 |
| Laguna Niguel | 367 | 142 | 38.7 |
| Laguna Woods | 391 | 15 | 3.8 |
| Mission Viejo | 339 | 171 | 50.4 |
| San Clemente | 456 | 126 | 27.6 |
| San Juan | 232 | 97 | 41.8 |
Laguna Niguel Real Estate Finder News
January 14, 2009
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31261 Old San Juan Road/ San Juan Capistrano…
December 17, 2008
