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Los Angeles, CA Real Estate News

By Endre Barath, Jr., Realtor - Los Angeles Home Sales 310.486.1002
(Berkshire Hathaway HomeServices California Properties)
Wordless Wednesdays: Citrus Tree pruning in the back yard... Diane decided to prune the trees. Needless to say, she has been coordinating with our Gardner to do this. Hence, I was stuck dealing with them.They showed up in the afternoon while I was in the middle of keeping one deal together and negotiating two other deal.Next thing I know is they are putting cut branches into the "trash" barrel after they filled the "Green Barrel."  after they left, I was trying to salvage many of the oranges. Clearly you know for future Orange Juice.... Needless to say, managed to save some but what you see here was probably 50% the rest were lost!    Wishing you a safe and healthy life and I look forward to your comments. If you are looking for a knowledgeable, focused and goal-oriented Realtor in the ...
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By Endre Barath, Jr., Realtor - Los Angeles Home Sales 310.486.1002
(Berkshire Hathaway HomeServices California Properties)
Diane and I have been going to the Festival of Books for the past 24+ years. If memory serves me correctly, we only missed the first two... Now with that said this year we did not get a new coffee mug. Usually, we get one every year commemorating our visit to the Festival of Books. This year was a total disappointment.The marketing was too vague and too discouraging. In the old days if you wanted to see an author you did not have to pay to enter. This year the message was mistakenly focused on, that you cannot get to see a panel or an author unless you pay for a ticket. Really??? False messaging. Sadly, many bought into this message including us.I told Diane it was just poor English and not clear messaging... we disagreed... on a side note I was right.So, with that said, let me tell you...
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By Endre Barath, Jr., Realtor - Los Angeles Home Sales 310.486.1002
(Berkshire Hathaway HomeServices California Properties)
Lemon, Avocado, Bucatini & Shrimp pasta dinner... this dinner was inspired, because Diane wanted a break from " Red Sauce so with that said I reached into my cookbooks and found this recipe in one of my favorite cookbooks: "Pasta Modern." Those of you who read my posts know I would end up modifying the recipe to make it my own.Well, I did the short recipe, lemon, lemon zest, shrimp, avocado and lemon juice.My additions, fresh parsley, clam juice, little bit of heavy cream and a lot more wine:). I also added little bit of heavy cream and substituted red onions with sweet onions as well as added some baby spinach,  Wishing you a safe and healthy life and I look forward to your comments. If you are looking for a knowledgeable, focused and goal-oriented Realtor in the Beverly Hills area who...
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By Endre Barath, Jr., Realtor - Los Angeles Home Sales 310.486.1002
(Berkshire Hathaway HomeServices California Properties)
Friday Funday: I thought how about a fun dinner.... I always cruise the Internet, and I saw someone post a recipe for baked cabbage. Loved the idea and it so happened I had cabbage in the fridge as well as I always have olive oil.Now I thought this would go well with bake Argentinian Red Shrimp.Then I figured how about some great Red Lobster Cheddar Bay Bisquists to accompany the dinner Wishing you a safe and healthy life and I look forward to your comments. If you are looking for a knowledgeable, focused and goal-oriented Realtor in the Beverly Hills area who will help you achieve your Real Estate goals, please reach out to me directly! If you are looking for a pet friendly Beverly Hills Realtor who can handle and sell the most difficult properties that no one else could, please reach ...
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By Jane Peters, Los Angeles real estate concierge services
(Home Jane Realty)
Westwood Branch Library - 1246 Glendon Avenue March 16th Internet 1A-Google - 11:00 a.m. to 12:00 p.m. Learn about the Internet, search engines, URLs, browsers, the World Wide Web and more. Examine Google in detail. Familiarity with the keyboard and mouse and/or 'Computer Comfort' class is recommended before taking this class. Call branch for special parking instructions. Passover Storytime - 4:00 - 5:00 p.m. Join special guest Chaya Grossbaum from Chabad of Central Westwood for Passover themed stories and crafts. Resume Workshop - 6:30 - 7:30 p.m. Looking for work and need to update your resume? Get free expert help with your resume from a professional in the field. March 17th Chinese Conversation Class -  6:30 - 7:30 p.m. Learn Mandarin Chinese with Grace Yang. All levels welcome. Cl...
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By COMPASS PALM SPRINGS | Stewart Penn, COMPASS Palm Springs - Broker Associate
(COMPASS)
Many of the multi-million dollar listings in Los Angeles are ostentatious, over-done "trophy properties" that are often lacking in style and sophistication ... so when an elegant property is listed on the MLS I look forward to exploring the property. This new listing at 13161 Boca De Canon Lane in Brentwood really caught my attention. Listed at $15.8 Million, this newly built 7-Bed 9-Bath home measures almost 14,000 sq ft and is set on over an acre of lush grounds.The home includes a library, game room, screening room and guest suite in a separate structure from the main house. Photos courtesy of the CLAW MLS - Listed by Partners Trust.
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By Jane Peters, Los Angeles real estate concierge services
(Home Jane Realty)
The statistics below cover Westwood and West Los Angeles.  They are taken directly from the MLS and are for single family homes.  They do not include condos, income property or private sales. There were 7 homes sold in February, 3 more than in January and 1 less than February '09 The highest price sold was $1,720,000 and the lowest was $530,000. The median sold price was $830,000, down from $1,182,000 in January and $1,024,200 in February '09. The average sold price vs list price was 97.55%, almost the same as January at 98% and up from 94.16% in February '09. The average days on the market was 52, up from 24 in January and 45 in February '09. It is still difficult to determine the trend, but we wait for March and April figures.  
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By Matt Sweeney, Rich Kids Real Estate
(Rich Kids Real Estate: The Brokerage)
As the title says, today's Hot Prop went into escrow literally within the last 3 days with multiple back up offers. This is proof positive that when you price a well done property correctly, it will fly! The same scenario happened with another property I posted about a couple of weeks ago, 880 Hilldale. That town home had an offer before the first broker's open. This is starting to remind me of the good old days right when I was becoming an agent. Unfortunately, I was just starting out so I never got to enjoy that time period when your best friend's sister's cousin from Pacoima decided to get her license and made 100K in six months by just standing in front of an open house. The good news is that those agents are gone with the wind and the hard working ones (ahem...) are the ones that h...
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Los Angeles based home buyers, real estate professionals, and other related professionals should consider coming to the Homebuyers Fair this Saturday and Sunday at the LA Convention Center. LaRocca Inspections will be there educating buyers on the Home Inspection process and giving out information (and other fun giveaways) at booth #207. Please stop by and say hi if you attend. http://www.homebuyersfair.com/ We hope to see you there!  
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By Matt Sweeney, Rich Kids Real Estate
(Rich Kids Real Estate: The Brokerage)
I was sitting an open house last weekend at a property that I had sold a number of units in. With only 4 condos left, the remaining ones (while beautiful) were well north of one million dollars. It really all depends on what stage of life you are in as to what you would want to do if you had a million dollars plus to spend on a new home. Often I will get asked the question, usually by one of my rich kids or potential rich kid clients, "what would you buy should you have roughly 1 million (or in the case of 855 Croft - 1.5 million) to spend on a home?"Would I buy the condo/town home that is brand new or would I buy a house? At the end of the day, it doesn't really matter what I would do because it's all about the wants and needs of my client. Some people want things as low maintenance as...
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By Jane Peters, Los Angeles real estate concierge services
(Home Jane Realty)
  The statistics below cover Palms and Mar Vista home sales and are taken directly from the MLS.  They are for single family homes and do not take into consideration condos, income property or private sales. There were 11 homes sold in February, 1 more than in January and 1 less than in February '09. The highest price was $1,765,000 and the lowest was $550,000. The median sold price was $739,000, against $787,988 in January and $665,500 in February '09. The average sales price vs. list price was 96.3%, against 96.8% in January, and 93.8% in February '09. Average days on the market was 10, against 70 in January and 82 in February '09. The Palms Mar Vista market is looking rosier than last year and has improved slightly over January.
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By CRESTICO INC
(CRESTICO)
What is an REO? REO means Real Estate Owned. Everyone is talking about REOs these days. But before you consider buying one, there are a few things you should know about REOs. These properties are generally owned by banks, credit unions, mortgage companies and sometimes private companies. It has become increasingly common for the news to report foreclosure issues and homeowners losing their houses and other effects of the mortgage crisis. As a result there have been dramatic increases in the marketing of REOs to the general public. It used to be that you could barely get your hands on lenders’ foreclosure lists. But these days, everyone is trying to sell REOs. The people that are being marketed by these REO sellers are mainly first-time and minority potential homebuyers. Fannie Mae works...
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By Jefferson Hendrick, Homes By Hendrick
(Keller Williams - Hollywood Hills)
....does that mean I can't park at it?  This is something I imagine everyone is this city has experienced.  In the last week, probably.  If the meter's broken, I just park there.  Once in a while, I'll call the number on the meter and report it broken IF I have time (and that's big if).  When I call, I'm told, "sir, you aren't supposed to park at broken meters," which immediately makes me want to stab myself with dull pencils.  I usually do it anyway and hope for the best - which is that it doesn't automatically reset itself while I'm parked there. The Los Angeles Times ran a story this morning about just this.  Can you, or can't you, park at a broken meter.  Well, here's your official answer. "There's a lot of short fuses in the world, people are out of work and out of jobs. . . . I w...
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By Jane Peters, Los Angeles real estate concierge services
(Home Jane Realty)
The statistics below cover home sales in the major Echo Park area of Los Angeles (90026) and are taken directly from the MLS.  They are for single family only and do not include condos, income property, and private sales. There were 5 sales in the month of February, down from 13 in January and 12 in February '09. The highest priced was $710,000 and the lowest $250,000. The median sold price was $325,000, no change from January, but down from $460,000 in February '09. The average percentage  of sold price vs listing prices was 106.98%, up from 96.12% in January and 86.22% in February '09. The average days on the market was 56 down from 95 in January and 71 in February '09. The rise in sales price over asking price and lowering of days on the market is a promising indicator.  
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By COMPASS PALM SPRINGS | Stewart Penn, COMPASS Palm Springs - Broker Associate
(COMPASS)
Beverly Hills Condos For Sale - Open Houses 3/14/2010 If you're not represented by a Realtor/Broker and would like additional information on any of the Open Houses scheduled, please do not hesitate to call or email me: Stewart Penn - Penn Properties -  (310) 844-6515 - stewart@pennpropertiesla.com 140 S Oakhurst Dr #PH1 - 3 Bed 3.5 Bath - $2,595,000 426 S Roxbury Dr - 3 Bed 2 Bath - $1,200,000 433 N Doheny Dr #303 - 2 Bed 2.5 Bath - $999,000 438 Palm Dr #A - 2 Bed 2 Bath - $737,000 321 N Oakhurst Dr #204 - 2 Bed 2 Bath - $725,000 Information obtained from the CLAW MLS is deemed correct but not guaranteed. Search The MLS: Stewart Penn - Realtor for homes, condos & lofts in Los Angeles, Beverly Hills, Bel Air, Holmby Hills, Santa Monica, Malibu, Brentwood, Century City, Westwood, Beverly ...
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By Jane Peters, Los Angeles real estate concierge services
(Home Jane Realty)
Brentwood homes sales statistics are taken directly from the MLS and are for single family homes.  They do not take into consideration condos, income property, or private sales. There were 15 homes sold in February, one more than in January, and 7 more than in February '09. The highest priced home sold was $2,905,000 and the least expensive $900,000. The median sales price was $1,650,000, down from $1,826,250 in January and $3,550,000 in February '09. The average sales price received vs the average list price was 95.1%, up from 90.1% in January and 93.1% in February '09. Average days on the market was 74 down from 126 in January and up from 62 in February '09. All in all the Brentwood market remains fairly steady.
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By Endre Barath, Jr., Realtor - Los Angeles Home Sales 310.486.1002
(Berkshire Hathaway HomeServices California Properties)
Century City Condominium Market Report for February 2010 February is always a short month, hence generally there are fewer transactions compared to the rest of the months. In spite of this natural phenomenon, there were 278 Active Condominium listings in what we call in the Multiple Listing Service as Century City/Westwood area. Interestingly there were 26 properties that were in Escrow, of which 15 buyers have removed all their contingencies and 11 buyers are still waiting to remove their investigation and loan contingencies. There were 17 Condominiums that Sold in the month of February. The least expensive sale was a 2 bedroom 2 bath 929 sq ft Condominium and it sold for $375,000.00 a great value for the size and location. At the opposite spectrum the most expensive sale was $1,900,00...
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By Stewart Penn - BRE# 01339266, Stewart Penn - Associate Broker
(Windermere Real Estate - Palm Springs)
Stewart Penn | Penn Properties | 310.844.6515 800 West 1st Street #1609, Los Angeles, CA "Remodeled Studio in Prestigious Bunker Hill Tower" Studio/1BA Condo offered at $192,000 Year Built 1968 Sq Footage 500 Bedrooms Studio Bathrooms 1 full, 0 partial Floors 1 Parking 1 Car garage Lot Size Unspecified HOA/Maint $468 per month DESCRIPTION Spacious Pied-à-Terre in prestigious Bunker Hill Tower. Completely remodeled studio, new kitchen with stainless steel appliances, new carpets, fresh paint, and designer touches throughout. Generous closet space. Floor-to-ceiling windows with awesome views to the Hollywood sign. Full-service amenities include on-site manager, concierge, 24-hour security, pool, tennis courts, sauna, gym and spa. Secure guest parking. HOA includes electricity, water, gas...
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By Brian Skaar, Purchase Loan Specialist - VA, FHA, Conventional
(VanDyk Mortgage - VA, FHA, Conventional, VA Jumbo, Jumbo, Purchase Loans, & Refinance, Direct Lender)
California VA Loan Limits by County for 2010 The Veterans Administration, in concert with some help from Congress in 2008 now allows Veterans and Active Duty Military Personnel to purchase homes in higher cost areas such as California and Washington at loan amounts much higher than the old VA limits.  Some examples in California are San Jose, San Francisco, Oakland, Fremont and much of the Bay Area may qualify for a 100% VA Jumbo loan up to $962,500.   Los Angeles and Orange county cities such as Los Angeles (duh), Irvine, Anaheim, Newport Beach, Costa Mesa, Laguna, Orange, Santa Monica, Hermosa Beach, Manhattan Beach, Torrance, Pasadena, and Brea can borrow up to $593,750 with no money down when buying a house.  San Diego Vets qualify up to $437,500 for a 100% VA Loan.   VanDyk Mortgag...
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By COMPASS PALM SPRINGS | Stewart Penn, COMPASS Palm Springs - Broker Associate
(COMPASS)
H.R. 4539 - The Real Estate Revitalization Act of 2010 Can FIRPTA prevent the pending commercial real estate crisis? Economists are warning that mounting commercial real estate losses and refinancing problems could endanger the banking system and derail economic recovery. I was therefore interested to read about a little known bill that was introduced in January this year that could help bring a new source of much needed liquidity to this sector of the real estate market: Foreign Investment. CNN featured an article about Joseph Crowley - a six-term Democratic congressman representing parts of New York City's Queens and Bronx boroughs who introduced The Real Estate Revitalization Act of 2010 which would eliminate certain taxes that are part of the Foreign Investment Real Estate Property ...
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BARGAIN BULK SALE!!! 7 HOUSES + 2 DUPLEXES (11 UNITS TOTAL) - LOS ANGELES Appraised 2.44million Will ACCEPT 1.64million (cash)   EXCELLENT BARGAIN PRICING. SEVEN (7) SINGLE FAMILY HOMES PLUS 2 SEPARATE DUPLEXES!!   THIS BULK SALE CONSISTS OF THE FOLLOWING: 2 - 2BED/1BATH SINGLE FAMILY DETACHED HOMES 2 - 2BED/2BATH SINGLE FAMILY DETACHED HOMES 1 - 1BED/1BATH SINGLE FAMILY DETACHED HOME 1 - 3BED/1BATH SINGLE FAMILY DETACHED HOME 1 - 5BED/2BATH SINGLE FAMILY DETACHED HOME DUPLEX - 2 SEPARATE 3BED/2BATH HOMES DUPLEX - 2 SEPARATE 2BED/1BATH HOMES   LIVING SQUARE FEET RANGE FROM 900-2200 SFT. LOT SIZE RANGE FROM 3200-7300 SFT   FAIR MARKET VALUE OF APPRAISAL RECENTLY CAME IN AT $2.44 MILLION WILL ACCEPT $1.64 MILLION WITH AN ALL CASH OFFER. WON'T LAST AT THIS INCREDIBLE PRICE. PURCHASE THIS A...
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By Endre Barath, Jr., Realtor - Los Angeles Home Sales 310.486.1002
(Berkshire Hathaway HomeServices California Properties)
February 2010, Condominium Market Report for Playa Vista, CA As I was writing my January Market Report, I was lamenting that it appears there is little inventory on the Market. It was not just my imagination, there was very little inventory. Now comparatively there is a lot more. For the month of February there were 31 Active properties for sale in Playa Vista, CA. There seemed to be a large drop on the properties that were in Escrow compared to January. February only had two (2) Accepting Backup Offers as well as only four (4) that are pending. Although February is a short month and generally it has a normal dip in the numbers of Properties that are in Escrow as well as which have been sold, it does not justify the large drop between January and February. The consumer confidence is sti...
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By Dom Naidoo, Malibu to the Marina Real Estate
(Westside Properties)
Happy Friday everyone! I hope you all endured the long week and are now ready to party this weekend away :) I found this helpful information on the REALTOR.com® website and have to share with you.. Basic Although this kit has only basic tools, you will be able to make most of the repairs homeowners are likely to come across.   Tool   Use     1. Hammer   Since the stone age man has used this tool in one form or another and for good reason, it is indispensable. A 16-ounce, curved-claw hammer will handle most tasks. Choose a drop-forged steel head.     2. Screwdriver   Get one with changeable tips. With so many different kinds of fasteners, a screwdriver that can adapt to all of them is a must.     3. Duct tape   Is this a tool or a material? Both! With a little imagination duct tape can b...
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By Jae Wu & Sean McMillan
(Westside Hub)
When and why will rates go up? That is a common question. Here's the reason why they will. Not a matter of if, just when.
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