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Los Angeles, CA Real Estate News

By Dom Naidoo, Malibu to the Marina Real Estate
(Westside Properties)
Happy Thursday everyone! We're on the downhill for the week and the weekend is within reach! Well, it is for all of you 9-5ers :) Here is today's Thursday Throwdown...   Westside Weather   Santa Monica, CA 59°F Current: Partly CloudyWind: E at 6 mphHumidity: 64% Thu62° | 50° Fri62° | 50° Sat60° | 47° Sun62° | 45° Beverly Hills, CA 58°F Current: Partly CloudyWind: E at 7 mphHumidity: 66% Thu64° | 49° Fri62° | 49° Sat60° | 45° Sun63° | 43° Pacific Palisades, CA 59°F Current: Partly CloudyWind: E at 6 mphHumidity: 64% Thu62° | 50° Fri62° | 50° Sat60° | 47° Sun62° | 45° Malibu, CA 55°F Current: Mostly CloudyWind: S at 8 mphHumidity: 89% Thu63° | 45° Fri62° | 46° Sat61° | 42° Sun63° | 39° Brentwood, CA 57°F Current: Partly CloudyWind: E at 7 mphHumidity: 69% Thu63° | 48° Fri61° | 48° Sat60° ...
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By Lupe Soto - North Hollywood Casas en Venta
(Lupe Soto Agente de Casas Burbank CA)
Casas en Venta en Burbank, North Hollywood, Glendale, Sylmar y todas las areas del Valle de San Fernando, Palmdale, Lancaster con Lupe Soto, Realtor en Espanol , Short Sale Realtor o Agente de Venta Corta en el Condado de Los Angeles, CA El exito que tengo como Realtor en Espanol en Los Angeles Caifornia & Consultora de Prestamos Hipotecarios FHA, conventional a primeros compradores o inversionistas de bienes y raices en espanol, national or internacional, me permite ofrecerle el mejor servicio de representacion en la compra  y guiarlo en todo el proceso de compra y el tramite de su prestamo aun asi que usted tenga su banco de preferencia, una segunda opinion es importante ya que los gastos de papeleo varian de banco a banco.  Lupe le ofrecere una opcion con calculos de pagos por escrit...
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By Danny Batsalkin, Los Angeles Real Estate | 310.432.5706
(Keller Williams Realty - Beverly Hills)
OK, there were actually a lot of them.  But here's one ... Proposed change to mortgage interest deduction President Obama yesterday presented his proposed budget plan for fiscal year 2011. Included in the proposed plan is a provision to reduce the mortgage interest deduction for those earning more than $250,000. At this time, however, it does not appear that the change to mortgage interest deduction is included in any proposed legislation. C.A.R. and NAR are strongly opposed to this provision, and C.A.R.’s leadership is meeting with Congressional representatives next week to urge lawmakers to oppose it as well. Reprinted from the C.A.R. Newsline -- Danny
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By COMPASS PALM SPRINGS | Stewart Penn, COMPASS Palm Springs - Broker Associate
(COMPASS)
I've always admired billionaire Sir Richard Branson. He created The Virgin Group which includes over 200 branded companies worldwide and employs approximately 50,000 people in 29 countries.  We've all heard of Virgin Atlantic and Virgin America (in my opinion, two of the very best airlines currently operating) and more recently we've heard about Virgin Galactic. But this week I read about the Necker Nymph, the newest entry to Virgin Limited Edition - Branson's collection of exclusive retreats  The Necker Nymph is a three-person aero submarine which has been likened to an underwater aircraft. "Unlike Conventional subs which use ballast to sink in the water, the Necker Nymph uses downward "lift" on the wings to fly down to depth." This unique "aqua-craft" is available when chartering Bran...
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By Lupe Soto-Realtor, Listing, Selling Burbank, San Fernando Valley LA
(Premier Realty Assoc)
7 NEW TAX LAWS YOU SHOULD KNOW Tax breaks were created, or in some cases expanded, for autos and home purchases, as well as for certain residential improvements. Uncle Sam now pays more of some educational costs. Some workers get bigger tax benefits to offset their commute to work. Folks who no longer have jobs at least get some tax relief. Even how you pay your IRS bill could turn into a deduction. Here's a look at some popular tax laws that could come in handy as you work on your 2009 tax return. 1. More homebuyer credits In February 2009, the popular first-time homebuyer credit became a true credit, meaning that it can directly reduce dollar-for-dollar any tax you owe. Even better, the amount of the credit was increased; it's now up to 10 percent of the cost of the house up to a max...
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By Annie Pinsker-Brown, Stage to Sell, Los Angeles Home Stager
(Stage to Sell - LA Home Staging)
Today I had an experience that reminded me why I LOVE my job as the owner of a Los Angeles Home Staging company. It reminded me that I do so much more than help people prepare their homes for sale. Some days I am also a Real Estate therapist. Today was one of those days! With all the craziness in the Los Angeles real estate market, I have been very busy in the past few weeks. So much so that, in order to fit in a client who needed some help selling her home, I arranged a consultation for a Sunday. When my client came to the door, she seemed surprised to see me. "Did we schedule a consultation for TODAY?" she asked. "Isn't today Sunday? Why would I do something like that?" I reminded her that we had picked this day because of my busy schedule and, though very flustered, she invited me in...
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By Dom Naidoo, Malibu to the Marina Real Estate
(Westside Properties)
Happy Monday everyone! I hope you enjoyed the weekend. My office and website www.WestsideHomeFinder.com receive a lot of inquiries regarding qualifying for the Extended Homebuyer Tax Credit. Here is the information that I share with everyone... – You qualify for the Extended Homebuyer Tax Credit if: You meet IRS income and homeownership rules. You sign a binding contract by April 30, 2010. You close on a home purchase by June 30, 2010. The home of your dreams may come with a bonus: a tax credit. Image: DreamPictures/Photodisc/Getty Images   There’s happy news for current homeowners: If you intend to sell your home and buy another in 2009 or 2010, you may be eligible for a federal tax credit of up to $6,500. The Extended Homebuyer Tax Credit legislation, passed in November 2009, also sha...
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By COMPASS PALM SPRINGS | Stewart Penn, COMPASS Palm Springs - Broker Associate
(COMPASS)
$7,050,000: A Short Sale on Donhill Drive in Beverly Hills. Originally listed in 2008 for $16,500,000, the price was reduced to $14.9 Million .... then to $12.9 Million ... and then further reduced to $11.5 Million. After being offered For Lease at $100,000 per month with no takers, the property was re-listed For Sale at $8.9 Million.A few months later the price was further chopped to $7.2 Million. This 6-Bed 9-Bath Balinese-style home constructed with imported materials from all around the world, features a theater, wine cellar and infinity pool. $6,300,000: This 6-Bed 5.5 Bath ocean view Villa on Pacific Coast Highway in Malibu was originally listed for $7,995,000. After 215 days on the market sold for $6,300,000 - representing a 20% discount to the List Price. This property had sold ...
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By COMPASS PALM SPRINGS | Stewart Penn, COMPASS Palm Springs - Broker Associate
(COMPASS)
There have been some mega-million dollar home sales in Los Angeles in January 2010, each with their own fascinating story highlighting the huge price reductions in mega million dollar homes. $19,500,000: (Previous Sale Price: $19,150,000) Situated on Oriole Drive in the Hollywood Hills above the Sunset Strip, this Tuscan Villa measuring almost 10,000 sq ft sold for $19.5 Million. Built in 2006, the 6-Bed 8.5 Bath home features a long Cypress-lined driveway leading to a large motor-court, a wood burning pizza oven and a wine cellar. It's interesting to note that the property was sold in 2006 for $19,150,000. In 2008 it was listed for sale at a huge premium of $29,000,000. After being reduced to $28 Million and then to $24 Million, the price was further reduced to $21.9 Million where it r...
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By JB Brookman, High School Senior Portrait Photographer
(JB Brookman Photography)
For full-service graphic design, please check out my wife's company: www.jenbrookman.wordpress.com   About Jen Brookman Graphic Design: With over eight years of graphic design experience and a large international client base, Jen Brookman has worked with a vast array of business owners and companies. But, it is her heart for helping people and strong knowledge of business and marketing that make her stand out from the rest. Jen is a wonderful communicator. She takes the time to listen to her valued clients and asks strong questions that uncover their wants and needs. The result is a relationship-based experience that leaves the client satisfied and excited with their design or project. Jen's design experience has included working as a Freelance Artist and working at a large Los Angeles ...
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By Lupe Soto-Realtor, Listing, Selling Burbank, San Fernando Valley LA
(Premier Realty Assoc)
1/28/10 Fannie Mae, the largest provider of residential home funding in the United States, announced Friday that it would pay the closing costs on purchases of foreclosed homes in its inventory.The government-controlled company said buyers of qualified properties will get up to 3.5 percent in closing costs, or an equivalent amount for the purchase of new appliances.The goal of Fannie is to clear out the nearly 50,000 properties it has in inventory."Attracting qualified buyers to the market and reducing inventory of vacant homes is critical to stabilizing neighborhoods and helping the market recover," said Terry Edwards, executive vice president for credit portfolio management, in a statement. Source: Reuters News, Al Yoon (01/28//2010) All offers to Fannie Mae must be presented by a Lic...
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By COMPASS PALM SPRINGS | Stewart Penn, COMPASS Palm Springs - Broker Associate
(COMPASS)
Stewart Penn | Penn Properties | 310.844.6515 11645 Montana Ave #233, Los Angeles, CA "The Lowest Priced Condo in Brentwood - January 2010" Studio/1BA Condo offered at $299,000 Year Built 1973 Sq Footage 500 Bedrooms Studio Bathrooms 1 full, 0 partial Floors 1 Parking 1 Car garage Lot Size Unspecified HOA/Maint $350 per month DESCRIPTION Fabulous security building located on Montana Ave close to trendy shops & restaurants. This quiet corner spacious single has a good size kitchen with new travertine floors & bar area. Living area has new carpet, fireplace, large windows & new air conditioner. Wonderful remodeled bath with travertine shower & floors. Walk-in closet. On-site management, pool, spa & sauna. see additional photos below PROPERTY FEATURES - Fireplace - Walk-in closet - Tile f...
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How to Settle Your Credit Card Debt Class   -   Los Angeles, CA Learn More      Sign Up Credit Card Problem Solution How to Settle Your Credit Card Debt   Read this if you find your self overwhelmed by credit card debt.  Credit card problem solution is what this blog entry is about. A Common Credit Card Situation Maybe this happened to you too.  I used my credit cards a very good bit.  I was always up to date in payments but kept raising the balance.  That is my fault.  I could pay the cards no problem.  However, suddenly, the interest rates went astronomical.  I could no longer pay the debt.  Faster than I thought, I had a credit card problem. Pondering the Credit Card Situation One day I could no longer stand my self in these situation.  I went to a coffee house downtown Portland, got...
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By Danny Batsalkin, Los Angeles Real Estate | 310.432.5706
(Keller Williams Realty - Beverly Hills)
Los Angeles Local Business Spotlight: Sarah Peters | World Citizen Baby Since he was 6 months old, my son Maksim has been taking music classes at our local music and dance studio, Creative Seeds, which is located in my neighborhood of Wilshire Vista.  If you would like to find out more about Wilshire Vista, check out my Wilshire Vista real estate update! Today, for the first time I went to the Word Citizen Baby class with Maksim and it was AWESOME!  We had a great time dancing and singing!  Sarah Peters is incredible on the drums, guitar and other instruments, and Maksim really had a blast! Here's the description of the class: World Citizen Baby is a parent and child music and movement class designed to build a larger understanding of our global community. We playfully explore different...
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By Alf Gizzo
(Transitional Housing Advisors)
Rental profits quadrupled with great tenants. Los Angeles, CA   When I blog about renting out individual rooms the conventional thinking on the topic goes to a rental population of students, seniors and the mentally and physically challenged. I say think outside the box – it’s a great time to be unconventional and observe your rental units cash flow like never before. As written in yesterday’s post, on average a $1,000 a month in net cash flow per property.   Our preferred tenant wont’ fit into any of the above-mentioned categories. We have discovered that the renters we work with – ex-offenders of soft crime - can be less of a bother and less expensive than those most people think of when renting out individual rooms. With anyone on parole or probation, finding a place to live is often...
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By Johnny Burke
(Keller Williams Realty)
The Southern California Home Buyer's Fair is offering a free, two-day primer on the home-buying process . This 2 day event will be held on March 13th & 14 at The Los Angeles Convention Center, located at 1201 S. Figeroa St., Los Angeles, Ca 90015. There will be more than 50 educational "how-to" seminars and a large exhibit hall, designed to help you navigate today's real estate market with confidence and peace of mind.  For more info, visit  http://www.homebuyersfair.com
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By Alf Gizzo
(Transitional Housing Advisors)
Quick and easy ROI Calculator. Los Angeles, CA Here is a quick and simple way to calculate how much you could earn using our system of renting out individual rooms in transitional housing. $450 a month for private bedrooms and $750 a month for the shared ones (12x12 or larger). Just add it up in your head, and then subtrack your operating expenses; e.g., mortgage payment, insurance, taxes (PITI) and utilities, Viola, there’s your net cash flow, and on the average probably around $1,000 a month. One of our most recent students just opened a 4 bedroom, split level, single family residence (SFR) in a nice working class neighborhood on January 11th. Two rooms are renting out as privates for $450 a month, and two larger bedrooms will be rented out as semi-private rooms for $750 a month. Semi...
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By Jane Peters, Los Angeles real estate concierge services
(Home Jane Realty)
Echo Park is one of the top growing areas in the U.S.  It's proximity to down town, spectacular views and still affordable housing by Los Angeles standards, draws a diverse population and a good place for first-time home buyers to investigate. The statistics below, cover the major Echo Park areas (90026), are taken directly from the MLS and are for single family homes.  They also don't take into consideration condos, income property and private sales. There were 10 sales in the month of December. The most expensive home sold was $786,000 in the hills and $865,000 in the flats. There were only 9 sales in December '08. The median sales price was $480,000 approximately a 25% decrease over December '08. Average days on the market for sold properties was 65, down from 105 in December '08. Be...
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BestShortSales.com Presents Learn How to Stop Foreclosure Training Webinar The Exact Way to Do It     Stop foreclosures at the last moment     Save your short sale transactions     Let the homeowner stay longer at the property for free     Gain 45 days to over a year of extra time     A MUST for Real Estate Professionals   Enroll  Now Why Learn This Let’s face it.  There are moments when you just need more time before the bank forecloses.  In this webinar you will learn how to stop foreclosure at the last moment.  If you are in real estate, you should be a master at this. How it Works Foreclosures are executed within a legal framework, clerical process.  Banks exercise their legal rights and act according to their logistical convenience.  You will learn to stop foreclosure by counter ac...
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By Danny Batsalkin, Los Angeles Real Estate | 310.432.5706
(Keller Williams Realty - Beverly Hills)
You have all probably heard about the $8,000 first time home buyer tax credit that got the real estate market in a frenzy towards the end of last year. And you have also probably heard that the tax credit has been extended through May 1, 2010 and expanded to include a $6,500 credit for repeat home buyers and now includes increased income limits for eligibility.   You've all read the posts explaining the details of the credit. The big question, though, is What are you going to do with YOUR $8,000? Sometimes people look at these tax credits and don't realize the full impact of them. Think about it ... this tax credit does not just lower your taxable income (like some other credits) ... it is essentially Uncle Sam saying "Here's $8,000 ... ENJOY!"  Now come on, really, how often does that ...
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