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Los Angeles, CA Real Estate News

By Jane Peters, Los Angeles real estate concierge services
(Home Jane Realty)
This is my second outing to this restaurant.  If you love Indian food, and I do, this is a must-visit: India's Tandoori5468 Wilshire Blvd.Los Angeles, 90036Phone: 323-936-2050 Northern Indian cuisine.  Very different and yummy.  
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By Jane Peters, Los Angeles real estate concierge services
(Home Jane Realty)
What stress? I am a golfer.  You can go out at the twilight time on a great public course, of which Los Angeles has many, and play an 18-hole round, usually in around 4 - 4 1/2 hours for $16.  In the summer twilight is 3:00 p.m., plenty of time to finish a round, and in the winter it is 1:00 p.m, just enough time to finish a round. Now trying to lower your handicap, that is stressful!  Yesterday I shot 105.  My lowest being 98.   O.K. back to work to support my habit.      
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If your tenant moved out of your rental unit and owes you money, use the hammer the best collection agencies use.  Report the debt your tenant owes to Experian, Equifax, and TransUnion.  Collection agencies report debt to the credit bureaus to motivate the previous tenant to pay the money they owe.  Reporting debt to the credit bureaus help collection agencies collect debt. Your tenant may owe you money for past rent, damages, legal fees, etc.  High unemployment in Los Angeles is causing more tenants to leave their rental unit owing the landlord high sums of money.  Once your previous tenant gets back on his or her feet, they will work to improve their credit rating.  If the money they owe you is not reported on their credit report, you most likely will not get paid.  This credit bureau...
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By Jane Peters, Los Angeles real estate concierge services
(Home Jane Realty)
Per today's article in the L.A. Times: HOME "PRICES IN THE LOS ANGELES AREA ON THE RISE FOR THE FIRST TIME SINCE THE LOCAL MARKET PEAKED IN SEPTEMBER 2006" So you can all stop worrying.  The last bastion has fallen!?!
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What happens in Los Angeles if you do not pay your doctor, cell phone, or utility bill?  You will not only receive some less than friendly phone calls, but your debt will also be reported to Experian, Equifax, and TransUnion.  These major credit bureaus will then ding your credit report to show that you owe money, and most debts will remain as a collection account for up to seven years! Why do companies go to the trouble of reporting these debts?  They do it because reporting the debt to the credit bureaus makes it difficult for the debtor to obtain credit, thus increasing the possibility they will get paid the money they are owed.  It may also lower FICO scores.  If it did not work, trust me, they would not bother reporting. So why don't Los Angeles landlords report previous tenants th...
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By COMPASS PALM SPRINGS | Stewart Penn, COMPASS Palm Springs - Broker Associate
(COMPASS)
The Ritz Carlton in Downtown Los Angeles   I rarely spend time in downtown Los Angeles. I'm usually in the area only a few times a year so whenever the occasion arises I take note of what's happening since I was last there. This week I noticed the progress in construction of the Los Angeles Ritz Carlton. The $900 Million development features a selection of one, two and three-bedroom homes and 12 Penthouses in a 54-floor tower. There's a fitness center, pool and terrace on the 26th floor, and a Ritz Carlton signature restaurant on the 24th floor. Prices start at $1.4 Million and soar to $10 Million for the penthouses. According to the Ritz Carlton website, "The luxury residences, starting on the 27th floor and rising up to the 52nd floor, stand boldly as an icon above the bright lights o...
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By COMPASS PALM SPRINGS | Stewart Penn, COMPASS Palm Springs - Broker Associate
(COMPASS)
    10800 Wilshire Blvd, Los Angles - What's happening at "The Californian"? The Californian is one of the newer high-rise condo buildings on the prestigious Wilshire Corridor in Los Angeles. Completed in 2005, the 23-story tower has 80 condominiums. The full-service building features concierge service, valet parking, resort-like pool, spa and fitness center with sauna and locker-rooms. Since January 2008, 4 units have sold at prices ranging between $2,120,000 - $3,750,000. There are also currently 10 units for sale in the building at List Prices between $1,450,000 - $5,395,000 with an additional unit currently in escrow. Monthly HOA Dues are close to $3000 (yes, three thousand dollars). Almost 20% of the building has, or is changing hands since the begining of last year. This percenta...
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By Johnny Burke
(Keller Williams Realty)
The Home Ownership Moves The Economy (HOME) act (  HR 2801) is a bill which if passed, will extend the current tax credit into 2010, and allow all homeowners to take advantage of the credit. Read more here.
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By COMPASS PALM SPRINGS | Stewart Penn, COMPASS Palm Springs - Broker Associate
(COMPASS)
Glenn Beck alienates advertisers from Fox News "Walmart, Best Buy, CVS, and GMAC are among eight major advertisers that have confirmed pulling their advertising from Fox News' "Glenn Beck" program in light of his comments that President Obama is a racist. The advertisers did not pull their spots from Fox News, but rather requested that their ads do not air during Beck's 5PM program." Color of Change.org I think these advertisers are finally displaying some type of corporate responsibility by boycotting the hateful speech repeatedly spewed by Glenn Beck.  "We have seen rhetoric that is destructive and divisive before, but taking a platform that is supposed to be for news and analysis and using it to stoke racial animosity just crossed the line," said James Rucker, Executive Director of C...
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By Debby Dutilh
(Art and Soul Home Staging)
No free lunches in Vacant Home Staging? When I started I was advised by my mentor one Saturday afternoon a few months back, to take small steps. Go to Open Houses, leave my card and offer some free consultations to Realtors, and for sure, don't take on anything I can't deliver. In the meantime, get your vacant home staging packages together so you'll be ready if that's what you want to do...later on down the line. All sounds pretty straight forward and doable. I get the picture.  Check out the furntirue rental showrooms. Get to know the the friendly staff who is more than willing to help and offer me some neat deals. Shouldn't be so tough to get a package together! And off I gon the next day to a few open houses. This is fun. First Open House and the first Realtor that I speak to the ne...
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By Dom Naidoo, Malibu to the Marina Real Estate
(Westside Properties)
Happy Thursday everyone! I just read a very interesting article in the Los Angeles Times.....  Fed sees hope but leaves key interest rate near zero The central bank says 'economic activity is leveling out' but remains weak. It extends by a month its purchase of Treasury securities to reduce long-term interest rates. Reporting from Washington Tom Petruno and Los Angeles -- The Federal Reserve on Wednesday gave its most upbeat assessment of the U.S. economy in many months, while making clear that it would indefinitely keep short-term interest rates at rock bottom.In their statement after a two-day meeting, Fed policymakers said recent data suggested that "economic activity is leveling out."By contrast, the statement after the central bank's June meeting indicated that the Fed believed the...
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The CA Attorney General's office has a new website which has info on how to avoid loan modification fraud. I know I have written about this before, but I still get the feeling many homeowners don't quite now where to go to get the information they need. You can find the site here.  The latest on the AG's office crackdown on foreclosure "consultants" can be found here.  Please help spread the word so more California homeowners can learn about this site.
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By Valerie Fitzgerald, Luxury Real Estate in Beverly Hills & West LA
(Coldwell Banker Residential Brokerage)
Heart and Sold, written by top selling Los Angeles real estate broker Valerie Fitzgerald, takes you on a journey through the emotional and tangible challenges of regaining one's personal power while building and maintaining a successful business. The book recounts Fitzgerald’s personal journey from unemployed single parent to entrepreneur, philanthropist and corporate executive in the competitive L.A. real estate metropolis. From beginners just getting started to seasoned agents -- or anyone in business looking to take their game to the next level -- this step-by-step guide teaches readers the art of selling. Start reading Heart and Sold on your Kindle right now Click here. Order it on Amazon.com. Heart and Sold shows readers how to: Manage clients with style Choose the right company an...
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By Endre Barath, Jr., Realtor - Los Angeles Home Sales 310.486.1002
(Berkshire Hathaway HomeServices California Properties)
 Here is the Playa Vista, CA.  July 2009 Real Estate Market Report. I have been extremely busy and grateful for it, hence the delay in my monthly Real Estate Market Report for Playa Vista, CA. I finally started seeing in various media headlines about the Real Estate Market getting some life into it.  I find it ironic and rewarding at the same time. Ironically I have been saying this with my monthly Real Estate Market Reports since January of this year, that month over month I have seen this trend and the numbers prove that there have been steady increases.   I find it rewarding, that finally the Media is publishing the information which I have been saying, since the beginning of this year i.e.: That there have been increases month over month in sales. I am some what disappointed that no...
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By Dom Naidoo, Malibu to the Marina Real Estate
(Westside Properties)
Buyers' Up Front Fees  In conjunction with the residential purchase agreement, buyers are usually expected to put down a deposit at the beginning of the transaction. If the buyer completes the sale, this money will be credited toward the buyer's downpayment. If the buyer doesn't complete the sale for legal or contractual reasons, the money is typically returned. However, if the buyer doesn't complete the sale for other reasons, the seller may be entitled to keep the deposit. The U.S. Department of Housing and Urban Development (HUD) advises that deposits should be "substantial enough to demonstrate good faith," usually 1 to 5 percent of the purchase price. Often, buyers may put up to 20 percent down. Because buyers frequently pay for most inspections, it may be a good idea to investiga...
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By Dom Naidoo, Malibu to the Marina Real Estate
(Westside Properties)
Happy Sunday! I am saddened to be the bearer of not so great news. Los Angeles Times reports that the default rate for California is 9.5%!! Here is the article...  About 1 in 10 Californians with a home loan is now in default, and there's growing evidence that the mortgage meltdown is spreading to commercial real estate.The home mortgage delinquency rate -- the percentage of borrowers who have missed several payments and are in the first stage of foreclosure -- climbed in June to 9.5% in California and 9.9% in Los Angeles County, according to First American CoreLogic. The staggering number of home mortgage defaults probably will lead to large numbers of foreclosures through at least this year, housing experts say."It's probably a given we'll see a high number of foreclosures in the next...
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By Johnny Burke
(Keller Williams Realty)
The House Of Representatives this week passed a bill that would essentially authorize federally-insured depository institutions and banks to lease back houses to occupants of foreclosed properties. The proposed terms of the lease is up to five years. This is a bold move, which is aimed at limiting inventory, which would then hopefully stablilize home prices. The long term effects will vary depending on location, and just how long the defaulted homeowners will be allowed to stay as renters will be up to the bank. You can read more here.
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By Johnny Burke
(Keller Williams Realty)
The House Appropriations Committee has approved an extension of the $729,750 loan limits for Fannie Mae, Freddie Mac and the Federal Housing Administration through September 2010. The committee also increased the lending and guarantee authority of FHA and Ginnie Mae, as requested by the Obama Administration. The Department of Housing and Urban Development appropriations bill authorizes FHA to insure $400 billion in single-family loans during fiscal year 2010, up from $315 billion in the current 2009 fiscal year, which ends Sept. 30. The FY 2010 appropriations bill allows Ginnie Mae to guarantee up to $500 billion in securities backed by single-family and multifamily loans. Congress provided the secondary market agency with $400 billion in MBS guarantee authority in the FY 2009 appropria...
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By Risa Liebster, Toluca Lake Real Estate
(Ramsey-Shilling Associates)
When the weather gets to be this hot, it is in human nature to slow down a bit and do a little less. If you're preparing to sell your home, however, now is not the time to become complacent. Today's home buyers are more savvy than ever. Every little "tweak" you can make to your property to bring it as close as possible to showplace condition will surely pay concrete dividends in the end. This includes dealing with your pets, their belongings and any evidence thereof. Although it may be hard for a pet lover to comprehend, not everybody may be as enthusiastic about Rex or Fluffy as you are. In preparation for showings, be sure to: • De-fur your home. A good cleaning to remove pet hair and dander from all surfaces is absolutely necessary. • Check home for smells, stains and pet damage. Man...
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By Bill Ladewig, Experience Is Your Advantage
(LoanOfficerSchool.com)
July 28 , 2009, 1:00 PM PST National Average Fixed Rate Mortgage  Unchanged at 5.29% on July.28 Fannie Mae Mortgage Backed Securities Down 0.024% at 5.018% 10 Year Treasury currently 3.690% Down -0.06%  Lock Advice - LOCK   Fannie Mae MBS yields closed lower than today's market opening but above today lowest yield. DJI stocks 9,096.72,Down -11.79, -0.13% European and Asian Markets Down -0.093% Nymex Crude Oil currently $68.85 Down $0.62 WORRIED ABOUT AN OUT OF TOWN APPRAISER?  If you are concerned about the value of your listing and need a local appraiser consider FHA financing where we can still control the appraiser selection Where are the best rates: Mortgage Brokers or Direct Lenders?  Rate Survey The dreaded Stealth Rate Shopper Strikes Ditech full story   Click for inter-day Rate ...
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