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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)
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)
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 Endre Barath, Jr., Realtor - Los Angeles Home Sales 310.486.1002
(Berkshire Hathaway HomeServices California Properties)
2401 San Marco Dr. Los Angeles CA 90068: Accepting Backup Offers...Directions : Head East on Franklin Ave to Cahuenga BLVD (N) first right (E)on to Dix St and first left (n) on Holly Dr. to the end turn (L) to San Marco, land is just past 2407 San Marco Dr.Remarks: Best priced vacant land in the Beach Wood Canyon area. Truly a fantastic opportunity to build your dream home in the highly desirable Hollywood Dell section of the Hollywood Hills East. This lot is equally desirable for a developer to build for spec. The house next to this lot on a more difficult upslope with smaller frontage was built recently. This up sloped lot has about 58 ft of frontage with panoramic canyon views. Just imagine being surrounded by nature and multimillion dollar homes and still be minutes from the city an...
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By Endre Barath, Jr., Realtor - Los Angeles Home Sales 310.486.1002
(Berkshire Hathaway HomeServices California Properties)
As most of you who read my posts, we have been supporting the Los Angeles Festival of Books for the past 24 plus years. We missed the first two and then we became loyal supporters year after year. Yesterday we went and you can read my post of what I thought. Now with that said we did not go this year the second day, like we always did two days in a row. Ironically, I had an easy day with real estate today.Well, not to dwell on it here are a few Fotos that I did not post yesterday.No matter what I wish you a wonderful week ahead and if you have time enjoy reading books. Please buy and read books. 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 ach...
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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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By Bill Ladewig, Experience Is Your Advantage
(LoanOfficerSchool.com)
July 27 , 2009, 1:00 PM PST National Average Fixed Rate Mortgage  UP 0.05% at 5.31% on Jul.27 Fannie Mae Mortgage Backed Securities Up 0.022% at 5.043% 10 Year Treasury currently 3.720% Up 0.02%  Lock Advice - FLOAT   Mortgage Backed Security prices are down -3/32 above the 9:45 et pricing level of -8/32.  MBS prices spent the entire session in negative territory ahead of this week's large Treasury auctions. DJI stocks Closed the day at 9,108.51, Up 15.27, 0.17% European and Asian Markets Up 0.972% Nymex Crude Oil $69.69 Down $0.05 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?  R...
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By Johnny Burke
(Keller Williams Realty)
Foreclosure filings hit 1.5 million homes in the first half of ‘09 according to the July 16, 2009 issue of the Wall Street Journal. The foreclosure train wreck continues, as a weak job market and falling home prices pushed foreclosures to a record high in the first half of the year. There are more properties in foreclosure available than ever before in California and while these deals may seem like bargains, many of these properties have more than the usual number of problems.  Jerry Malcome was able to purchase a foreclosure in Sherman Oaks California at a reduced price. However, as soon as he moved into the house the toilet backed up, flooding the bathroom floor with raw sewage, the gas company refused to turn on the gas to the heater because it was listed as a condemned furnace and h...
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By COMPASS PALM SPRINGS | Stewart Penn, COMPASS Palm Springs - Broker Associate
(COMPASS)
Last week I posted a blog that Nicolas Cage's Bel Air Property that has been reduced by 50% to a new List Price of $17.5 Million. Today I read on The New York Observer that Donald Trump has dropped the price on a Duplex Penthouse at 502 Park Avenue from $51 Million to $31 Million.  That's almost a 40% decrease from the original List Price, representing a reduction from a mind-boggling $8200 per sq ft to $5000 per sq ft. The Listing Broker was quoted as saying: "Mr. Trump is committed to selling the apartment. And we made an adjustment that is appropriate for today's market." After taking into consideration the mortgage crisis and financial meltdown experienced last year one can't help wondering if $51 Million could ever have been justified as a legitimate List Price .... or was it "just...
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By COMPASS PALM SPRINGS | Stewart Penn, COMPASS Palm Springs - Broker Associate
(COMPASS)
Nicolas Cage is selling his Bel Air Mansion at 50% off. In October 2006 Cage listed his almost 12,000 sq ft house (7 Beds and 9 baths) for $35 Million. After several price reductions to $29 Million, then $24 Million, then $19 Million and eventually down to $17.5 Million, the property was withdrawn from the MLS in May of this year, unsold. This week, although not yet on the MLS, it appears that the property has been re-listed at 50% off the original price of $35 Million - and is now offered at $17,500,000. The home has a history of celebrity ownership having originally been owned by Dean Martin, Tom Jones and Patricia Arquette (Nicolas Cage's second wife whom he divorced in 2001). Whatever the property eventually sells for will still yield the owner a substantial profit .... he paid $6....
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By Bill Ladewig, Experience Is Your Advantage
(LoanOfficerSchool.com)
July 17 , 2009, 6:30 AM PST National Average Fixed Rate Mortgage  Up 1 basis point at 5.27% on 07-16-09*A Basis Point (bps) is 1/100 of 1.00% Fannie Mae Mortgage Backed Securities Down 6.6 basis points to 4.958%. Lock Advice:  LockMM rate direction indicator moved up 4.0 bps. DJI Stocks Opened 8,690.81  +74.60  +0.87% European and Asian Markets Up 0.89% 10 Year Treasury currently 3.50% Nymex Crude Oil $61.32 barrel, Down $0.70 See inter-day Rate and market updates on Twitter 06-16-09: Initial jobless claims fell 47,000 to 522,000 last week.Initial claims for jobless benefits dropped by 47,000 to 522,000 in the week ended July 11, the Labor Department said Thursday. The four-week average of new claims, which aims to smooth volatility in the data, fell by 22,500 Are the best rates supplie...
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By Annie Pinsker-Brown, Stage to Sell, Los Angeles Home Stager
(Stage to Sell - LA Home Staging)
As a professional Los Angeles Home Stager, it is always a pleasure to work with clients who  take your advice and roll with it! Such was the case with a recent listing in Cheviot Hills. The couple living in the home were retiring and moving to Palm Springs, so they wanted to sell their beautiful Spanish style home…quickly! The agent, Randy Troup of Coldwell Banker Brentwood West, often hires me to do Staging Consultation reports for his sellers. I preview the property and spend a couple of hours giving the sellers detailed recommendations of low-cost things they can do to (using mostly what they already have in the home) to Stage their property for sale. I met with this lovely couple and gave them quite a list! Their home was beautiful to begin with, but there were several things I reco...
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By Johnny Burke
(Keller Williams Realty)
Title is the legal documentation that bestows ownership of real property. This is to be indicated in Part II of the 1003 Uniform Residential Loan Application as "manner in which title will be held." The decision of how the title will be held should not be put off until the last minute since it has a great impact on future tax planning, the financial future of the borrower(s) and their respective heirs, and the choice of the lender. It is most important for the mortgage consultant to work hand-in-hand with the borrower's financial planner or tax consultant to assist their mutual client in order to make decisions that work best for their particular scenario. For example, most married couples would consider holding title with Joint Tenancy. But if one spouse has a good credit history while...
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By Alberto Pacheco, Experience and Trust
(Home Smart Evergreen Realty)
New Listings: 280 Average Listing Price: $ 308,219 Listings Under Contract: 177 Average Listing Price: $ 232.038 Sold Listigs: 114  Average Listing Price: $ 256,850 % Sales Price Versus Listing Price: 98,57 % % Sales Price Versus Old Listing Price: 89.43 %  Average Days on The Market: 71    http://www.stoppayingrentinla.com Fha, Mls, Foreclosures, Schools, Mortgage Calculator
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By Alberto Pacheco, Experience and Trust
(Home Smart Evergreen Realty)
New Listings: 249 Average Listing Price: $ 290,086 Listings Under Contract: 135 Average Listing Price: $ 245,408 Sold Listigs: 145  Average Listing Price: $ 249,078 % Sales Price Versus Listing Price: 97.32 % % Sales Price Versus Old Listing Price: 87.08 %  Average Days on The Market: 76    http://www.stoppayingrentinla.com Fha, Mls, Foreclosures, Schools, Mortgage Calculator
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Los Angeles, California - Attorney General Edmund G. Brown Jr. today sued a foreclosure consultant and an attorney - Paul Noe Jr. and Mitchell Roth - who conned 2,000 desperate homeowners into paying exorbitant fees for "phony lawsuits" to forestall foreclosure proceedings. These lawsuits were filed and abandoned, even though homeowners were charged $1,800 in upfront fees, at least $1,200 per month and contingency fees of up to 80 percent of their home's value. "Noe and Roth ripped off homeowners desperate for help by charging unconscionable fees for phony lawsuits," Brown said. "Instead of aggressively pursuing the lawsuits, Noe and Roth strung them along so they could continue to rake in fees." Beginning in mid-2008, Noe promised homeowners facing foreclosure or default he could help ...
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By Dom Naidoo, Malibu to the Marina Real Estate
(Westside Properties)
 Perhaps you need to sell your home and relocate because you're changing jobs. Or, maybe you need a larger home to accommodate a growing family or a smaller home since your children have moved out on their own. There are myriad reasons why people sell their homes, but no matter the circumstances, it's in your best interest to approach the transaction armed with information and assisted by the expertise of a REALTOR®. The selling section provides an overview of each leg of the selling process, from assessing the market conditions to listing agreements to setting the price. While this outline will help you prepare for the transaction, consult your REALTOR® for more detailed information and answers to the questions that are specific to your situation. To preview the finest real estate and ...
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By Jane Kosheleva
(Markett)
Price: $879,000 FIZBER.com ID 11646509 Single Family with 2 bed, 1.0 bath, in 360 N. la Jolla Avenue Los angeles, CA, 90048 http://www.fizber.com/11646509/ 360 N. la Jolla Avenue - For Sale By Owner Property Details: Type: Single Family Address: 360 N. la Jolla Avenue, Los angeles, CA, 90048 Sq footage: 1184.0 Floors: n/a Bathrooms: 1.0 Bedrooms: 2 Year built: 1928 View full property details and seller's contacts. View more California homes for sale. Homes for Sale by Owner. Description: Nestled among multimillion-dollar homes, this beautiful and classic Spanish revival home dates to Hollywood's heyday in the roaring 20's. No detail has been overlooked. Restored to its original state, vintage hardware and fixtures throughout. Cottage windows, hardwood floors, Walker Zanger tile, coved ...
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By Andrew Jones, LA Beach Cities Homes 310-399-3740
(Horizon Pacific Realty )
Los Angeles is one of the most expensive real estate markets in the country. That can make it tough for regular folks trying to live and work here. But there are still some really nice neighborhoods in the L.A. Basin proper that you can own a home in for less than $500k (in many cases less than $400k.). You don't have to move to the San Fernando Valley or San Bernardino, and since these homes are in the center of Los Angeles they're all great investments with a tremendous potential for appreciation. Before I start listing specific areas, remember that homes for under $500k can pop up in places that you might not expect. The Hollywood Hills is a perfect example of this. Usually there is an issue of some kind: the home is odd in some way or a fixer, it's on a small or irregular lot, the n...
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By Alberto Pacheco, Experience and Trust
(Home Smart Evergreen Realty)
New Listings: 285 Average Listing Price: $ 322,951 Listings Under Contract: 122 Average Listing Price: $ 246,030 Sold Listigs: 145  Average Listing Price: $ 255,616 % Sales Price Versus Listing Price: 95.89 % % Sales Price Versus Old Listing Price: 87.44 %  Average Days on The Market: 79    http://www.stoppayingrentinla.com Fha, Mls, Foreclosures, Schools, Mortgage Calculator
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By Endre Barath, Jr., Realtor - Los Angeles Home Sales 310.486.1002
(Berkshire Hathaway HomeServices California Properties)
  As we look at month over month we have seen life come into the Real Estate market. Now let us review and see what the true numbers are vs. the perception.           January           February            March               April                May                June   Active:  51                  55                      60                    58                   50                     42   Pending:  3                   10                      7                      8                      12                   17   Accepting Backup: 2       4                     5                      7                      13                    11   Sold:        3                       3                     4                      7                      12                    12   As I look at these num...
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