Cutting Down Trees Splits Neighbors at Scripps Ranch

Cutting Down Trees Splits Neighbors:
A decision to cut down more than 50 eucalyptus trees at a Scripps Ranch condominium complex has Split neighbors.
The trees were to be cut by week’s end at the request of the homeowners association at The Grove condominiums after some fell and damaged homes during recent rains.
Some in the 146-unit complex say the association’s board of directors is exaggerating the threat and rushed to a decision without getting more comment from residents. They have demonstrated and posted signs on trees that say “Please don’t kill me!!!”
Carla Ponce, a spokeswoman for the complex’s property manager, said 57 trees were targeted for immediate removal because they were “too close to homes.” An additional 149 have been marked for monitoring, she said, and probly will be removed in the future. Melaluca and tristania trees will be planted in place of the removed trees, Ponce said.
In December a tree fell into a home in the neighborhood, damaging the garage and living room. Later, more toppled trees damaged the back decks of four homes, Ponce said. On Feb. 2 the board held an emergency meeting and voted 5-0 to remove trees that posed the most danger, acting on the advice of an insurance carrier, lawyer, on-site contractor and tree-removal professionals, Ponce said.
Hamilton said residents were not able to register their concerns until the regular monthly association meeting last week. By then it was too late to stop the cutting.
Elsewhere in Scripps Ranch, the city this month began cutting selected eucalyptus trees for fire safety reasons. The city began cutting early last year but stopped because of community concerns and is now focusing on removing dead and dying trees at a test site on the northeast corner of Pomerado and Willow Creek roads, said San Diego Fire Marshal Frankie Murphy.
Will Lofft, president of Save Our Scripps Ranch Trees, said his group is supporting the opponents of the cutting, but it is limited in what it can do because the trees are on private property.
Hamilton said her group will continue the fight.
Those trees were were planted by the Scripps family over 100 years ago.


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Your HOA Board

Condo Owners Be heard!
join your association board and be active, it`s your right and your obligation.
if you don't have the time or desire to be a member, at least attend your board meeting when ever possible.
Owner involvement make for quality communities..

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Jason M. Gokei
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Mortgage Rates Down Again

Mortgage Rates Down Again
Rates on 30-year fixed-rate mortgages averaged 4.93 percent with an average of 0.7 point this week, down from 4.97 percent a week ago, Freddie Mac said in releasing the results of its weekly Primary Mortgage Market Survey.

The 15-year fixed-rate mortgage averaged 4.33 percent with an average 0.6 point, down from 4.34 percent last week and 4.68 percent a year ago.

The 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) loan averaged 4.12 percent with an average 0.5 point, down from 4.19 percent last week and 5.04 percent a year ago.

The 1-year Treasury-indexed ARM averaged 4.23 percent with an average 0.6 point, down from 4.33 percent last week and 4.8 percent a year ago.

Rates surveyed by Freddie Mac are for prime borrowers taking out loans with 20 percent downpayments. Borrowers taking out loans too large or risky for purchase or guarantee by Freddie Mac can expect to pay more.

After hitting a low of 4.71 percent in December in records dating back to 1971, rates on 30-year fixed-rate loans and other mortgages are expected to rise if the Federal Reserve wraps up ongoing purchases of $1.25 trillion in mortgage-backed securities (MBS) at the end of March, as planned (see story).

Economists at the Mortgage Bankers Association last month projected that rates on 30-year fixed-rate mortgages will rise from an average of 4.9 percent during the final quarter of 2009 to 6.1 percent in the final quarter of 2010, 6.3 percent in the last quarter of 2011, and 6.6 percent during the last three months of 2012.

FHA Toughens Down Payment Rules

FHA Toughens Down Payment Rules
The Federal Housing Administration will raise the minimum down payment for its least credit-worthy borrowers, the agency announced Tuesday.
The change is among a number of major changes the FHA is making to ensure its long-term financial soundness.

Borrowers with credit-rating scores below 580 will be required to put down at least 10 percent. Those with a credit score above 580 will be able to continue to put down only 3.5 percent. The changes are intended to shore up the agency's finances.

The FHA also will increase its upfront mortgage insurance premium from 1.75 percent to 2.25 percent. The agency is expected to seek congressional approval to raise annual mortgage insurance premiums, paid by borrowers over the life of the loan, above the current 0.55 percent maximum. The amount it will seek has yet to be announced.

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Looking forward to a great 2010...

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