Up to Date Real Estate News from the Experts in Urban Living

Up to Date Real Estate News from the Experts in Urban Living January, 2011

Lennar Opens Central Park West – on a 43 Acre Oasis in Irvine

Central Park West Irvine’s first urban masterplan community developed by Lennar. Designed with sophistication and convenience in mind, this 42-acre community includes 8 exceptional neighborhoods of townhomes, lofts, flats and high rise condominiums with approximately 1,380 urban-styled residences, numerous
on-site amenities, a retail plaza, and a 4-story office complex. A variety of upscale restaurants, retail shops
and a nature preserve are all within footsteps of this extraordinary urban village in Orange County, California! These townhomes, lofts, flats and high-rises range from
the upper $300,000s to over $1 million.More information visit www.cpwrealtor.com

JUST LISTED – Beautiful Residence in Exclusive High Rise Tower

8072 Scholarship Pool View

8072 Scholarship, Irvine, CA – $538,000 1 bedroom, 1.5 bath, 1,335 square feet

Live in Orange County’s most exclusive high rise tower. This spacious residence (D) floor plan located on the 7th floor features pools & city lights views. Home includes: granite slab counter tops in kitchen and bathrooms, Viking appliances, recessed lighting, Snaidero European Cabinetry in dark wood finish, natural stone floor in master bath, pouter room and kitchen, fireplace in formal living room, 2 assigned parking spaces next to a private enclosed storage room.. Come live the lifestyle you have always dreamed! Experience extraordinary amenities and recreational oasis on nearly one acre of land The Plaza- Irvine.

Financial Update by Maurice

Fannie Mae & Freddie Mac have introduced less favorable price adjustments that will be implemented on 4/1/2011.

Fannie Mae & Freddie Mac already have various risk based price adjustments known as LLPAs (Loan Level Price Adjustments). The original intention was to put a higher premium on loans they deemed riskier such as lower credit scores, investment properties, condos with less than 25% equity, etc.

The new LLPAs that go into effect on April 1st seem a bit excessive in some instances. For instance, it used to be that if a borrower had an 800 Fico score and could put 20% down, they were basically “golden.” After April 1st, that same borrower will be subject to a .25% pricing hit if they don’t put at least 25% down. That’s an immediate $1,042.50 in loan costs on a $417,000 loan. The pricing hits steadily increase as the fico scores drop below 740 and can quickly add up to $11,467.50 on the same loan amount for a borrower with a 679 credit score.

What started out as “risk based” pricing seems to have turned into punitive measures across the spectrum of lenders so that’s one more thing to keep in mind for your buyers who are considering a purchase this spring.

Based in Orange County, California, The Soussé Group is ranked number one in total sales in Irvine, California, 92612 over the past four years with more than $91 million in sales in 2007, 2008, 2009 and 2010 alone and 260 completed transactions. The Soussé Group has earned recognition amongst the top 50 agents in Orange County, California.
Kerry and Maurice Soussé
Realtor / BrokerThe Soussé Group
HÔM Real Estate Group
1200 Newport Center Drive, Suite 100
Newport Beach, CA 92660Direct Line: (714) 412-9014
Direct Line: (714) 412-8512
Direct Fax : (949) 640-7606
info@thesoussegroup.comAll Rights Reserved.

© 2010 The Soussé Group.

www.TheSousséGroup.comOfferings are subject to errors, omissions, prior sales or withdrawals without notice.

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