Tag Archives: administration’s housing programs

San Diego County Events for June 26 – 28

Once again, San Diego county is putting on some great events, with plenty of great family activities to choose from this weekend!

San Diego county events this weekendSan Diego County Fair

The San Diego County Fair presents A Fair to Remember: a Celebration of World’s Fairs and Balboa Park. The fair will be open June 5 to July 5, and it’s always a great start to summer here in San Diego County!

When: June 5 – July 5 | see website for open days and hours
Where: Del Mar Fairgrounds | 2260 Jimmy Durante Blvd., Del Mar, CA 92014
Cost: See website for details
More information: www.sdfair.com


“Sundays at Six” free summer concerts in La Mesa

La Mesa…. The La Mesa Park and Recreation Foundation announces the 14th season of the City of La Mesa’s “Sundays at Six” free outdoor concerts. The popular concert series are held at the beautiful outdoor amphitheatre at Harry Griffen Park, from 6:00 p.m. to 7:00 p.m. On June 28, the concert will be put on by Emerald River Band (country/classic rock). The “Sundays at Six” concerts series is also sponsored by Grossmont Center and the Chapel at Grossmont.

When: Sunday, June 28, 6 – 7pm
Where: Harry Griffen Park | 9550 Milden St, La Mesa
Cost: Free
More information: lamesaparks.org | email community@ci.la-mesa.ca.us | call 619-667-1300


Julian Gold Rush Days

Julian’s Gold Rush Days festival is happening this weekend–with historical reenactments, mock claim jumping, gold panning, and more. The old-fashioned mining camp will also have vendors, food, and an arts and crafts market.

When: Saturday & Sunday, June 27 & 28
Where: Julian Mining Company | 4444 Hwy 78, Julian, CA
Cost: $3 for adults, children 12 and under are free. Parking is free
More information: www.julianca.com/gold-rush-days


Oceanside Independence Day Parade

Oceanside’s annual Independence Day Parade features floats, bands, cars, and more. The theme this year is “Legends and Legacies”.

The parade will make its way north on Coast Highway from Wisconsin Avenue to Civic Center Drive (just past City Hall), starting in front of the 101 Cafe (Coast Highway at Wisconsin Avenue) at 10:00 AM. and works its way north with the first unit of the parade reaching City Hall around 10:15 AM. Running time from beginning to end is about two hours.

When: Saturday, June 27, 10am – 12pm
Where: South Coast Highway, Oceanside, CA 92054
Cost: Free
More information: www.oceansideparade.com


KidsFest

Bring the whole family out to San Diego’s largest hands-on festival for kids and their families. Let your kids get creative with more than 100,000 square feet of interactive exhibits and dozens of activity stations to help kids get their hands dirty. Make crafts with your kids and then take them home. Tickets are $20 for those years two and over.

When: Saturday & Sunday, June 27 & 28 | 10am – 5pm
Where: Liberty Station, Point Loma, San Diego
Cost: $20 for those two years and older; under 2 free
More information: www.kidsfestsandiego.com

NEW Government Ruling Devastating

Fannie, Freddie: the two government entities leader or housing regulator Edward DeMarco said this last Tuesday there will be no benefit to principle reductions of troubled borrowers who are upside down and has ordered all firms or institutions to not allow any help that is provided in the guidelines of the HAMP (Home Affordable Modification Program) and HARP (Home Affordable Refinance Program). He stated: “we concluded that the potential benefit was too small and uncertain, relative to the known and unknown costs and risks”. THIS IS DEVASTATING!!!

Treasury Secretary, Timothy Geithner noted that in the agency’s own analysis, that Fannie  and Freddie could save $3.7 billion by participating in the administration’s housing programs (HAMP & HARP), the taxpayers would save $1 billion. My commentary is that the institutions once again are controlling this country and not the government. The Obama administration, lawmakers on Capitol Hill, and housing advocates argue that principle reduction is an essential tool to help the 5 year crisis that is still going strong due to millions or about a quarter of the nation’s homeowners are under water, representing excessive mortgage debt of about $700billion!! This decision could burst the bubble that was going down in size due to the workout programs in place that have temporarily bandaged the real estate market, but now with no real help in the near future, the average homeowner who is on the fence will bail or walk away from their home. Coupled with the fact that many state laws have provisions protecting homeowners through the end of this year, I expect an onslaught of upside down homeowners to short sale their homes to take advantage of salvaging incentives currently being offered by most banks.

DeMarco, in his statement noted that only a small percentage of homeowners would strategically default on their mortgage, while most advocates would encourage it, so the savings would literally disappear for the agencies and the taxpayer. I say this is Chicken Little-type thinking and he is playing this game to not allow further losses to the institutions, who I believe are running the show!! Further, he also stated that the institutions investors would be spooked over this reduction program causing an increase in mortgage costs in the future. Another statement that shows the banks rule!!

In conclusion, the gains that have been made in the current real estate market are clearly at risk now, and will no doubt cause an increase of activity in sales and foreclosures in the near future, resulting in values stagnating, to possible reductions more likely. You can view more on this recent development here: http://www.fhfa.gov/webfiles/24113/pfstatement73112.pdf

Your comments are appreciated. What are your thoughts on this recent real estate news?