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Los Angeles, CA Real Estate News

By Stewart Penn - BRE# 01339266, Stewart Penn - Associate Broker
(Windermere Real Estate - Palm Springs)
Did you know? Taxpayers in Los Angeles, California will pay $1.2 billion for tax cuts for the richest 10% in FY 2009. For the same amount of money, 512,271 People could have been provided with Health Care for One Year. Did you know? Taxpayers in Los Angeles, California paid $1.5 billion for the cost of the Iraq War in FY2007. For the same amount of money, 604,532 People could have been provided with Health Care for One Year. What are your thoughts about promoting Health Care for all Americans?
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By COMPASS PALM SPRINGS | Stewart Penn, COMPASS Palm Springs - Broker Associate
(COMPASS)
CNN Online has an interesting "Cost of Living Calculator"  where you can enter your Salary (Income), the City and State where you live, and then make a comparison as to how far your salary will go in another City and State. I tried it and found some fascinating results: Los Angeles (where I live) compared to Manhattan, New York Groceries cost 14.33% more in New York; Housing costs 45% more; Utilities cost 50% more For interest I then compared Los Angeles to Tulsa, Oklahoma In Tulsa, Groceries cost 28% less; Housing cost 71% less; Utilities cost 6.4% less. One of the other disparities I noted was in Healthcare: Los Angeles vs New York: 15.8% more in New York Los Angeles vs Tulsa: 12.9% less in Tulsa.
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By Eileen Lanza
(Keller Williams)
Rare Spanish Revival large 3+2 condo, close to desirable Larchmont Village.  A lush gated courtyard leads to your own private hacienda where a light filled living room delights with beamed ceilings, fireplace and French windows opening to tree top views and fresh breezes.  Hardwood floors gleam thruout the formal dining room and 3 generous bedrooms.  Updated bathrooms and kitchen are chic, with a designer touch and thoughtful period details, plus a pool and 2 car garage, complete the story. Over 2200 square feet.  www.846Lucerne.com - Great Photos! I am open today 11 - 2 & Sunday 2- 5. Please join me to see this fabulous home. Eileen
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By COMPASS PALM SPRINGS | Stewart Penn, COMPASS Palm Springs - Broker Associate
(COMPASS)
Record Gas Price in West Hollywood / Beverly Hills / Los Angeles February 2008 - Bush on $4 a gallon gas: "I hadn't heard that." June 6, 2008 - Premium gas reached $4.99 a gallon in West Hollywood / Los Angeles.  June 18, 2008 - Premium gas reached $5.05 a gallon today in West Hollywood / Los Angeles. June 20, 2008 - Premium gas reached $5.19 a gallon today in Beverly Hills / Los Angeles. Where to next? We are in a crisis and yet our Federal and State Governments appear to be operating like things are "as normal".
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By Eileen Lanza
(Keller Williams)
Great show this weekend at The Los Angeles Convention Center June 7 & 8. BDODEC - code for free admission. Loos like it will be fun! http://www.zinio.com/cover?is=267120417&img=l Eileen Lanza Keller Williams
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By COMPASS PALM SPRINGS | Stewart Penn, COMPASS Palm Springs - Broker Associate
(COMPASS)
Effective July 1st, 2008, it will become illegal to drive a vehicle in the state of California while using a hand held cell phone.  Drivers who violate the law will face a base fine of $20 for a first offense and $50 for each subsequent offense. The law allows drivers to use a handheld cell phone for emergency purposes, drivers of commercial vehicles to use push-to-talk phones until July 1, 2011, and allow drivers of emergency response vehicles to use a cell phone without a hands-free device. Now we need to get drivers to stop sipping their Starbucks, stop shaving or applying make-up and concentrate on the job at hand:)
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By COMPASS PALM SPRINGS | Stewart Penn, COMPASS Palm Springs - Broker Associate
(COMPASS)
1. Who is your favorite musical artist?  Frank Sinatra (a mandatory classic) and dare I say, Barbra Streisand? I'm also enjoying Josh Groban right now. 2. Who is your favorite artist?   I don't have any one single favorite, but I enjoy the works of Joan Miro (the surprise of surrealism) and Henri Matisse (great use of strong, bold colors).  3. Who is your favorite blogger?   I love reading "The Real Estalker" for delicious entertainment. and I find both Anderson Cooper and Jack Cafferty on the CNN Blog both interesting and informative. 4. If you could meet anyone (alive or dead), who would it be and what is the most interesting thing about them?  I'd really like to meet Sir Richard Branson, flamboyant British self-made billionaire and philanthropist who created the Virgin Brand of compa...
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By Michelle Minch, Home Staging Los Angeles and Orange County, CA
(Moving Mountains Design Home Staging, Pasadena, CA)
Granada Hills home staged and sold! Moving Mountains Design is having great success this year helping Los Angeles Real Estate Agents and home owners sell their homes faster, even in this tight real estate market. We staged this occupied home in late April. The Real Estate Agent emailed me this morning to let me know the home had sold, and in record time for this area. It is easy to see why this home sold so quickly. The staging makes it stand out from all the competing homes on the market in this Granada Hills tract. Staging by Moving Mountains Design gave this home personality and pizazz and made it feel warm and inviting. We will be destaging as soon as all the contingencies are lifted.                                                                                                    ...
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By Lupe Soto - North Hollywood Casas en Venta
(Lupe Soto Agente de Casas Burbank CA)
Lupe Soto, Realtor en Espanol, sirviendo Burbank CA, North Hollywood CA y todas las areas de San Fernando Valley en Los Angeles County desde 1989.  Lupe es miembro de NAHREP National Association Hispanic Real Estate Profesionals.  Esta pensando en comprar su primera casa y piensa que no califica!  Llame a Lupe para una consulta sin compromiso, estoy disponible 7 dias a la semana, personalmente le contestare PRESTAMOS DE CASAS FHA - FACIL DE CALIFICAR - PAGOS BAJOS COMO CALIFICAR PARA EL PRESTAMO DE SU CASA?   CASAS EN VENTA - CONDOS EN VENTA - BUENO, BONITO & BARATO   CONTACT LUPE EN ESPANOL   www.CasasConLupe.com www.HomesWithLupe.com www.LendingWithLupe.com www.IncomePropertiesWithLupe.com www.CondosWithLupe.com www.LandWithLupe.com www.RentWithLupe.com     98% de mis clientes llegan ...
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By Lupe Soto-Realtor, Listing, Selling Burbank, San Fernando Valley LA
(Premier Realty Assoc)
God Bless America!   from Lupe Soto, Burbank Realtor in San Fernando Valley & Antelope Valley, LA County If you or someone you know is thinking of buying or selling property in SFV San Fernando Valley or AV Antelope Valley (Palmdale/Lancaster), please contact Lupe Soto. Lupe lives in Burbank CA. Lupe knows Burbank Real Estate & San Fernando Valley Real Estate, loves Burbank & San Fernando Valley, and specializes in Burbank & San Fernando Valley area real estate. Reach Lupe Soto, Realtor at 818-968-3718 or by e-mail at LupeAgent@charter.net. Be sure to check Lupe's blog, Thinking of Short Sale? Or Loan Modification? Lupe’s Homes For Sale in SFV or Venta de Casas en Espanol en SFV
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By COMPASS PALM SPRINGS | Stewart Penn, COMPASS Palm Springs - Broker Associate
(COMPASS)
CONDO HOMEOWNER ASSOCIATIONS:  RESERVES, INSURANCE AND DELINQUENCIES Because of recent underwriting changes by Fannie Mae (the federally chartered company that buys home mortgages and sells them as securities), lenders are now required to examine an association's finances before making loans.  For loan approval, Fannie Mae requires the following: - Delinquencies. No more than 15 percent of association's dues can be more than one month delinquent. - Insurance. The operating budget provides adequate funding for insurance deductibles. - Reserves. At least 10% of budget is allocated to funding reserves. - Renters. At least 51 percent of the total units in the project must have been conveyed to owner-occupant principal residence or second home purchasers. If an association fails to meet the ...
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By Hassan Nicholas
(Community Financial Resource Center)
Down Payment Assistance using Real Numbersby Hassan NicholásBy request we have been asked to do a demonstration of how using a down payment assistance program could work with alleviating higher costs and narrowing the affordability gap between buyers and home prices.The bottow example uses the County of Los Angeles HOP (Home Ownership Program), ADDI (American Dream Down Payment Initiative), and MCC (Mortgage Credit Certificate) programs to illustrate this concept: HOP offers a deferred loan of the lesser of $90k or 25% of the appraised value in targeted areas, and the lesser of $80k or 20% in non-targeted areas.   ADDI offers the greater of $10k or 6% of the appraised value of the home   MCC offers between 15-20% tax credit, depending on area.   Remember that this is only one possible s...
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By COMPASS PALM SPRINGS | Stewart Penn, COMPASS Palm Springs - Broker Associate
(COMPASS)
Home Buyers appear to be coming back to the market in bigger numbers to take advantage of discounted prices. "Home sales surged 22% in April in Southern California as bargain-hunters bought lower-end homes in areas hardest hit by foreclosures" according to a report by CNN. Sales of new and resale homes and condos reached 15,615 in April, up from 12,808 in March and the highest monthly total since August, according to DataQuick Information Systems. This is encouraging news. Prospective Buyers should no longer procrastinate their buying decision, waiting for the market to bottom. If they can afford to purchase now, they should do so.
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By Stewart Penn - BRE# 01339266, Stewart Penn - Associate Broker
(Windermere Real Estate - Palm Springs)
Do you know that when a spouse in a straight marraiage dies, and the property (owned by the two spouses) is valued for Estate Duty purposes, there is what is called a "stepped up basis" which is not applicable in Gay Marriages or Civil Unions. Practically, what this means is that if a property is valued at (for example purposes) at $100,000, and the surviving spouse sells the property the day after the one souse dies, Capital Gains Tax is payable on the difference between the Selling Price and the "stepped up basis". In my example above, if the stepped-up basis goes from $100,000 to $300,000, and the property is sold for $300,000, then no Capital Gains Tax is payable. In a Gay Marraiage or Civil Union (which is not recognized on a Federal level), in the example above, the surviving spou...
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By Lupe Soto - North Hollywood Casas en Venta
(Lupe Soto Agente de Casas Burbank CA)
Lupe Soto, Realtor en Espanol (818) 968-3718, COMO VENDER RAPIDO? su casa, condo, townhouse, duplex, unidades en Valle de San Fernando, Valle Del Antelope, Los Angeles County CA.  Lupe vende o renta casas rapido usando la technica de Feng Shui. Consulta gratis! SI USTED DEBE AL BANCO MAS DE LO QUE ESTA AVALUADA SU CASA, USTED TIENE OPCIONES PARA EVITAR FORECLOSURE, VENTA CORTA, SIN COSTO PARA USTEDwww.ShortSaleWithLupe.com (818)968-3718-LupeConsulta Gratis! COMO VENDER SU CASA RAPIDO Y AL MEJOR PRECIO? Probablemente en algún momento de su vida deba vender la casa en la cual Ud vive ahora. Puede ser que por razones de trabajo, estudio, salud o porque deba Ud mudarse a algún otro lugar del país. En esos momentos Ud. quiere vender su casa lo mas rápidamente posible para lo cual deberá real...
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By Valerie Fitzgerald, Luxury Real Estate in Beverly Hills & West LA
(Coldwell Banker Residential Brokerage)
Downtown Los Angeles is changing and to show the world, residential property owners and developers are working together with restaurants, retailers, hotels, bars, nightclubs, museums and art galleries to host Downtown Los Angeles Open House 2008. Contact me if you are interested in any of the properties you see during the open house, 310-285-7515. To read the original article, click here.
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By COMPASS PALM SPRINGS | Stewart Penn, COMPASS Palm Springs - Broker Associate
(COMPASS)
An extract from CNN's News Report: The California Supreme Court struck down the state's ban on same-sex marriage Thursday, saying sexual orientation, like race or gender, "does not constitute a legitimate basis upon which to deny or withhold legal rights." In a 4-3 120-page ruling issue, the justices wrote that "responsibly to care for and raise children does not depend upon the individual's sexual orientation." "We therefore conclude that in view of the substance and significance of the fundamental constitutional right to form a family relationship, the California Constitution properly must be interpreted to guarantee this basic civil right to all Californians, whether gay or heterosexual, and to same-sex couples as well as to opposite-sex couples," Chief Justice Ronald George wrote fo...
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By Lupe Soto-Realtor, Listing, Selling Burbank, San Fernando Valley LA
(Premier Realty Assoc)
Happy Mothers Day! To all my friends and their Mothers! HAPPY MOTHER'S DAY M is for the miracle of being O is for its origin in love T is for the tenderness of seeing H is for a home no wind can move E is for the ecstasy of living R is for the recklessness of giving! Sunday, May 11, 2008 Lupe Soto, Realtor | Successfully Negotiating Real Estate with Unmatched Dedication! Dir 818-968-3718 | Email | Website
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By Lupe Soto-Realtor, Listing, Selling Burbank, San Fernando Valley LA
(Premier Realty Assoc)
Burbank Real Estate, San Fernando Real Estate, Antelope Valley Real Estate by Lupe Soto, Feng Shui Realtor 818-968-3718Happy New Moon in Taurus as of Monday 05/05/08, 5:19am PST. Wishing you a motivated day!.  Inspired by Ralph Ralston from Daily Motivator.  What's now Before you rush away from this moment, take a look around and see its beauty. Instead of worrying about what's next, see the immense value that's already yours in what's now. Savor the time you're in and the place where you are. Appreciate all that you have instead of being obsessed with how to get more. You are already wealthy beyond all measure. Open your eyes to now, open your heart to purpose, and experience in rich detail the miracle that is your life. There's nothing to be gained by racing furiously away from this m...
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