Mountain Glen Terrace Times An Official Publication of Mountain Glen Terrace HOA Board of Directors Meeting Agenda Thursday, January 15, 2015 at 7:30 p.m. Important Contacts Valencia Management Group P.O. Box 802920, Santa Clarita, CA 91380-2920 Phone (661) 295-9474 Fax (661) 295-9476 Emergency: 661-705-8347 (For immediate threat to property only) Website: www.valenciamgmt.com Office Hours Mon—Thurs, 8:30 a.m.-5:00 p.m. Fri—Sat, 8:30 a.m.-12:00 noon Send overnight payments to 27644 Newhall Ranch Rd, #45 Valencia, CA 91355 Homeowners Services Representative Cinnamon Valdiviezo [email protected] (661) 964-1527 Accounting Specialist Scott Moore (661) 964-1542 [email protected] Association Manager James A. Beard, CMCA, AMS [email protected] (661) 964-1537 Los Angeles Police Department Emergency: 911 Terrorist attack: 877-A-THREAT Nearest police station: 11121 N. Sepulveda Blvd. Mission Hills (818) 838-9800 Maxwell Security Josh Scruggs (661) 775-0383 Sylmar Hospital Olive View – UCLA Medical Center 14445 Olive View Dr. (818) 364-1555 IEG WATER AND SEWER www.ienergygroup.com [email protected] Meters are read on approximately the 14th of each month. January 2015 The Presidents Corner by Ruth Perry “There are risks and costs to a program of action, but they are far less than the longrange risks of comfortable inaction.” ~ John F. Kennedy As Board members we serve as fiduciaries to the community. This requires thinking and deciding issues on behalf of what is best for the entire association, although this may conflict with our personal preferences at times. Our involvement with the community entails almost daily involvement, yet we serve as volunteers, working as a team to make the difficult decisions. We are responsible for the finances, management, insurance, enforcement of rules, etc. The current Board has been able to handle significant challenges, save two: delinquencies and vandalism. We have already been making progress but will continue to meet those challenges head on in the coming year by making all the community’s members aware of the seriousness of these issues. We will be moving forward quite significantly in the placing of liens and foreclosing on the properties of the worst offenders. In addition, we will pursue all acts of vandalism to the fullest extent of the law, to include full reparation. Please know that we intend on keeping our community financially secure during our tenure. Further, all components in managing an association have increased,. As such, the Board will be considering an increase in HOA dues in the next few meetings. Residents will be informed of the effective date of the increase as soon as possible. Mountain Glen Terrace Board of Directors Mountain Glen II Board of Directors Ruth Perry - President Leticia Vidal - Vice President Casey Bennett - Treasurer Lizette Adkisson - Secretary Diane Valencia - Member-at-Large Please note new Board email: [email protected] The meetings are held at the Poor Clare Missionary Sisters Convent located at: 13026 Angeles Trail Way, Sylmar, CA 91342. Agenda 1. Call to Order 2. Landscape Report 3. Homeowner Forum 4. Consent Calendar a. Meeting Minutes b. Security Reports c. Miscellaneous Reports 5. Financial Report a. Financial Statements b. Liens for Delinquent Accounts c. Bad Debt d. Foreclosure(s) 6. Maintenance Report a. Work Order Report 7. Committee Reports a. Executive b. Architectural 1. Applications c. Utility and Landscaping d. Finance e. Ad Hoc Sediment Removal f. Neighborhood Watch Report 8. Unfinished Business a. RFP - Security Service b. Review of IEG Contract c. Proposed Water Collection Policy d. Reserve Study e. Financial Review f. 2015 Budget g. Board Member Code of Conduct h. Harding Street Traffic Survey 9. New Business a. Gate Operator Proposal b. Pole Repair Proposal c. Harding Street Signage d. Redwoods (Park) 10. February Board Meeting a. February 19, 2015 11.Adjournment Mountain Glen Terrace Homeowners Association P.O. Box 802920 Santa Clarita, CA 91380-2920 CC&R Article 8 Please note that Article 8 of the Association’s CC&Rs prohibits the lease of any residential unit for transient or hotel purposes. Further, no owner may lease less than the entire residential unit. All leases are required to be in writing and copies submitted to the property manager. The Board has been made aware of recent Craig’s list advertisements offering the renting of single rooms in the community. Action will be taken against those found to be in violation of the CC&Rs. Thank you for your cooperation. Holiday Decorations - Temporary installation of holiday decorations is allowed. Installation may begin four (4) weeks prior to the holiday. Holiday decorations, including but not limited to lights, statues, garlands, etc., shall be removed from the residences no later than two (2) weeks following the date of the holiday. Real Estate Corner Board of Directors Executive Meeting Agenda Thursday, January 15, 2015 at 6:30 p.m. The meetings are held at Poor Clare Missionary Sisters Convent located 13026 Angeles Trail Way, Sylmar, CA 91342. Agenda 1. Call to Order 2. Approval of Minutes 3. Member Discipline 4. Legal 5. Contracts/Proposals 6. Other Matters 7. Adjourn to Open Session Full Agendas are Posted on HOA Bulletin Boards Please read and comply with all the HOA’s Rules and Regulations. by Vicki Smith Happy New Year! Good News Update from Economists 2015 Housing Outlook shows the U.S. Economy is picking up steam as exhibited by the first-time buyer millennial age group, particularly the 25-29 year olds. The lower-end home price category is growing faster than the higher priced, reflecting tight supply, shortage of new construction, & an affordability crunch. With low inventory for some time, in 2015, numbers of sales are expected to increase & home prices are expected to moderate. Economic fundamentals in 2014 (employment, price stability & low inflation) became stronger as oil prices began a 45% downslide since June. This downdraft will provide even more economic growth into the New Year & demand for housing is expected to increase. The drop in oil prices has significantly reduced driving-related expenses & home energy costs. Employment grew an average of 2.0% based on 3 months ending November 2014. In December, mortgage rates dipped below 3.9 for the first time since May 2013. As of 01-02-15, lenders are offering rates at 4.0%-4.125% with zero discount points & credit score of 740 or better. While rates are still very low, home prices are not. The low rate environment has benefited home prices; however, price-to-income and price-to-rent ratios are high, which is why home price growth going forward will be fairly muted. Mortgage rates should not increase very much, because inflation is low, with minimal upside risk given the deceleration in home & oil prices, the two largest segments of consumer inflation. 5 years of post-crisis expansion after the recession has shown steady improvement. MGII yearend sales data shows an average sale price of $483,429 for the year. There were no sales in December 2014. Currently, there are 3 active & available listings with asking prices of $479K (1,850sf), $489K (2,615sf) & $569K (2,118sf); 2 listings are pending in escrow but taking backup offers at $489,900 (3,606sf) & $499K (2,885sf). Sales reported in 2014 will be posted at your mail box bulletin boards. If you have any questions about this article or real estate in general, feel free to call me. For any questions regarding this article, please contact: Vicki Smith, Broker/Realtor, Victorian Associates—BRE #01034287, 818-833-4530, fax 818-833-0790 [email protected].