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Sherman Oaks, CA Real Estate News

By Vince McEveety
(Gilleran Griffin Realty)
Sherman Oaks Sunday Sun Trying to Break Through More Reasons Short Sales in Sherman Oaks get done. Another little understood fact is that the servicer to the investor, that is, the bank you have been calling about your loan, the bank that you may be assuming is the owner of the loan, may only have a fiduciary duty to the lien holder. All banks that help service a loan for an investor have to look out for the best interests of that investor, be it a group of investors or another larger bank or financial institution... and that means that they have to save them or make them the most possible money in all deals.... in this case, your Sherman Oaks Short Sale. As an agent, my job is to negotiate in the best interest for my client.  I hold a fiduciary duty to them, and must get them the most ...
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By Vince McEveety
(Gilleran Griffin Realty)
Sherman Oaks Sunday Rainy Sherman Oaks Homes For SaleWhen Should the Bank Approve a Short Sale in Sherman Oaks?  Seems like a logical and not too tough question to ask and answer, right? Though many sellers approach the process forgetting that banks are in the business of making money... not losing it. Banks approve Sherman Oaks short sales when it is in their best financial interest to do so. Would it surprise you to know... around eighty percent of all loans are NOT owned by the bank that is handling it? That means that an unskilled short selling agent may not understand that they aren't originally negotiating with the party who has the financial interest.  That agent may not understand why the bank would be rejecting a reasonable short sale offer.... Sadly, not knowing how to get the...
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By Vince McEveety
(Gilleran Griffin Realty)
Sherman Oaks, CA Evening on a Friday Looking out at the Valley   I had dinner with a friend the other night.  He works in another industry.  We had a wide ranging conversation about what the actual value of an agent is. He admitted that in selling, it might be the way to go... viz. to use a licensed professional.  He could see the value there.  The perception was that somehow that would be the way he would do it because he didn't exactly know what the steps were and whether or not he could get more money than a good agent. Which brings me to speak about the kinds of buyers that are out there. Many home sellers... think they can get more money for their home than a licensed professional could... maybe not only because they know about expired listings that do not sell, but because they we...
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By Vince McEveety
(Gilleran Griffin Realty)
I grew up in 91423 or thereabouts... actually we were up the hill a little... in the rareified air of 90077.  Nice to have a father who was a film director.  But we never thought about it as kids.  We just liked the speed we could generate riding our bikes down Woodcliff.  Those were the days of no helmets and no stop signs... If my parents only knew!  And when we got to our schools in Sherman Oaks we just thought about the whole place around it as.... Sherman Oaks.  The Galleria was fab, it was a place to wonder at having never seen anything quite like it when it was built.  And it went through some changes, floundering for a few years until now it has become one of the best spots in town to hang, go to the movies, eat, shop, people watch. And as I've reshaped my real estate situation ...
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By Emily Rose Newmark
(Keller Williams Realty)
Here's a tid bit on the $26 Billion Foreclsure lawsuit settlement... One woman got paid millions for her illegal foreclosure on a condo!! Wow. Check out my friends Frank & Brian with the scoop...   Woman Gets Millions For Bad Foreclosure March 15th, 2012 | by Frank and Brian      
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By Emily Rose Newmark
(Keller Williams Realty)
We've been hearing so much about the Big Bank's "Shadow Inventory" but the big wave of foreclosures many predictied  at the end of last year is beggining to look more like a drought as foreclosure sales dropped significantly in February. Further eliminating any possibility of a foreclosure wave for months to come, was a substancial drop in new foreclosure filings in California.  Unlike years past, February's drop in sales was not due to the short month. Thanks to the Leap Year, California had only one less business day than usual in February.  "Government intervention into the foreclosure crisis has clearly succeeded in slowing foreclosures. Unfortunately, it has also largely failed to deal witht the real problem - negative equity.  While principal balance reductions and short sales are...
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By Zorik Dadoyan, Residential and Commercial Real Estate
(Keller Williams Realty)
Just announced by acting FHA Commissioner Carol Galante: Effective with FHA case numbers assigned on or after April 1, 2012, the Upfront Mortgage Insurance Premium (UFMIP) will increase from 1.00% to 1.75%.  Annual MIP, paid monthly, will also increase by 0.10 percent for loans under $625,500.  Loan amounts greater than $625,500 will increase by 0.25 percent, effective June 1, 2012. This change will consequently lower purchase prices. When a buyer's monthly cost goes up their max purchase price will go down. Search for a house and enter into contract so you can get your FHA case number before April 1st. If you wait it will cost you more to buy the same house!   Zorik Dadoyan Keller Williams Realty
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By Emily Rose Newmark
(Keller Williams Realty)
Proposed Bill to Speed Up Short Sale Process and Prevent Foreclosure 0THIS NEWS IS MUSIC TO A REALTOR'S EARS!!! To avoid losing homes to foreclosure due to long response times for short sale transactions, three senators introduced legislation to speed up the short sale process. Senators Lisa Murkowski (R-Alaska), Scott Brown (R-Massachusetts), and Sherrod Brown (D-Ohio) proposed the bill addressing the issue of short sales timelines on February 17. A short sale is a real estate transaction where the homeowner sells the property for less than the unpaid balance with the lender’s approval. “There are neighborhoods across the country full of empty homes and underwater owners that have legitimate offers, but unresponsive banks,” said Murkowski. “What we have here is a failure to communicate...
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By Seana Yates
(Thrive Homes and Estates)
14148 Burbank Blvd. #8 Sherman Oaks, CA 91401 2 Bedrooms, 1 & 1/2 Bathrooms$275,000 This split level town home is about to hit the market!  I’ll be holding an Open House this Sunday, February 26th from 1pm to 4pm so come and see it in person.  It has bamboo floors, granite countertops, stainless steel appliances, high ceilings, recessed lighting and 2 patios. The master bedroom is large and has an en-suite bath, crown moulding, a ceiling fan, and an attached patio.  This unit is 1,040 square feet. More photos and info, read on... Listing courtesy of Pamela Topa Upchurch - Dilbeck Real Living
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By Seana Yates
(Thrive Homes and Estates)
13938 Hesby St.Sherman Oaks, CA 914233 Bedroom, 2 Bathroom$650,000 Each room in this 1,239 square foot Sherman Oaks home has details that, put together as a whole, create one, great house.  The living room’s buttery walls are accented by the white custom plantation shutters and artisan crown and base mouldings.  The rich hardwood floors carry through into the kitchen that features gleaming white tile counters, recessed lighting and a contemporary light fixture over the dining table.   The home has been updated while retaining it’s classic charm.  The bedrooms also have hardwood floors, custom plantation shutters, and crown moulding. More photos and info after the jump.  Read more... Listing courtesy of Craig Knizek, The Agency.
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By Ralph Gorgoglione, California and Hawaii Real Estate (310) 497-9407
(Metro Life Homes)
What does it cost just to call yourself a Realtor® ?   Let's run the numbers....... Have you ever thought about how much money it costs just to call yourself a Realtor® ?  We as agents know that it is expensive, but let's get right down to it and crunch the numbers. For the sake of example, I will be using my own scenario as a licensed agent in the state of California, and we'll be basing this on an annual amount. $155.00    - National Association of Realtor Dues$184.00    - California Association of Realtor Dues$150.00    - Local Association of Realtor Dues$500.00    - MLS Access Fees$1,200.00 - E&O Insurance$85.00     - Business Cards$385.00   - SupraKey Dues$475.00   - SupraBoxes$600.00    - Increased amount of auto insurance required by broker$900.00    - Website$600.00    - Open Ho...
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By Ralph Gorgoglione, California and Hawaii Real Estate (310) 497-9407
(Metro Life Homes)
Ralph's Helpful Tips:  Make sure you load your buyers up with business cards for open houses One thing you can NEVER have too many of is business cards.  You really should be going through them like water.  Why?  Because each card that is floating around out there is just one more marketing piece that is reminding everyone around that YOU are the go-to person in real estate. When working with buyers in the property viewing and discovery stage, don't skimp out on business cards and make sure you load your buyers up with at least 15-25 business cards.  And if they run out, give them 15-25 more!! Not only for the obvious reasons of possible referrals, but you and I both know that there are some unscrupulous agents out there who will try and "assimilate" your clients at open houses. Give yo...
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By Seana Yates
(Thrive Homes and Estates)
4712 Columbus Ave Sherman Oaks, CA 914032 Bedroom, 1 Bathroom $490,000 Built in 1941, this tidy, mid-century (ish) bungalow is an affordable starter home with character.  It’s in the great location of Sherman Oaks near the Galleria, Ventura Blvd. and easy freeway access.  The wood floors are in fabulous condition and the home has been updated with dual pane windows. The rich, wood-lined den has beamed ceilings, a large brick fireplace, and built in book cases.  It has a glass door which exits to the large, brick patio and back yard.  Read more and see more photos.... Listing courtesy of Elizabeth Marquart – RE/MAX Execs West L.A.
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By Emily Rose Newmark
(Keller Williams Realty)
  CASH IS KING! Especially in this market!  Did you know that 38% of the deals on the market in the Greater Los Angeles area are CASH ONLY deals? This is not to mention the thousands of Foreclosure homes that will be sold on the courthouse steps in 2012.  CASH IS KING! Especially in this market!  Buyers fortunate enough to possess the capital it takes to purchase properties ALL CASH are scooping up the deals by the dozens! These properites are then rehabbed and flipped at market value which is still a good deal for the entry level Buyer using 3.5-20% down to purchase the move in condition homes.  Its really a WIN/WIN for everyone involved and its going to help our recovery in California tremendously as well!  CASH IS KING! Especially in this market!  In early 2011 I put together a Full ...
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By Ralph Gorgoglione, California and Hawaii Real Estate (310) 497-9407
(Metro Life Homes)
Ralph's Weekly Legal What-If Scenarios: Encroachment - "Don't Fence Me In!" Each Monday, I'm going to post a "What If" Scenario that presents a legal issue in a real estate hypothetical situation. Each Sunday, either the correct legal answer (or most likely legal resolution) to the situation will be posted. These are great opportunities to keep your real estate legal chops honed and tuned as a real estate professional.  And I'm sure there will be some interesting discussions going on related to these hypothetical situations.  Some of you may also have had identical situations in the past that will bring some interesting light to the answers. Here is this week's scenario: A buyer, Bob, purchases a property in 2008.  Later that same year he decides to put up a fence.  Unknown to Bob at th...
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By Emily Rose Newmark
(Keller Williams Realty)
List of New California Laws 2012 Child Booster Seat LawThe new California Booster Seat Law outlaws parents, guardians, or drivers from transporting on a highway in a motor vehicle any child under 8 years old without securing that child in an appropriate child restraint meeting federal motor vehicle safety standards. The new California law does contain a provision, however, that a child under 8 years of age who is 4'9" inches in height or taller may use a safety belt rather than a child safety seat or booster seat. Employment Credit Check LawEmployers can no longer request credit reports for Californians unless they are working or seeking work in a financial institution, law enforcement or the state Justice Department. The law also exempts anyone who:(1) has access to people's bank or c...
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By Emily Rose Newmark
(Keller Williams Realty)
2012 Mortgage rate forecast...   FIND OUT THE VALUE OF ANY HOME FOR FREE HERE!!: www.LosAngelesHomeValuesFree.com   Originally posted in Wall Street Journal Online 12.14.11 by Drew Fitzgerald: Mortgage rates are expected to remain very low at least through mid-2012, while housing activity improves slightly, according to Freddie Mac’s economic and housing outlook released Wednesday. The outlook also projects fewer single-family home-loan originations but more multifamily lending in 2012. The rental market is likely to lead growth in the lending industry, though parts of the country will also benefit from increased activity in the single-family home market. 2012 mortgage rate forcast is effected by high unemployment and a glut of foreclosed properties have depressed the housing market in...
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By Emily Rose Newmark
(Keller Williams Realty)
Has California Turned the corner to recovery? California may finally have turned the corner into recovery, with the job market slated for slow but steady growth over the next two years, according to a report released today by UCLA's Anderson Forecast. "Have we turned the corner in the Golden State? Perhaps we have," wrote UCLA senior economist Jerry Nickelsburg. "The last two months have yielded both job growth in excess of the U.S. rate and job growth which is widespread throughout the state." It was the second time in two days that a Southern California think tank has predicted increased job growth in the state. On Tuesday, Chapman University in Orange issued a similar report, predicting slightly higher growth than UCLA. (To see the Union-Tribune's article on the Chapman report, click...
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By Robert Schmalz, Cal. Lic Broker
(West Los Angeles Real Estate Group)
4 BEDROOMS / 3 BATHS / 2773 SQ FT / 12240 SQ FT LOT SHERMAN OAKS NEAR BEL AIR BANK OWNED PROPERTY NEW ON THE MARFKET LIST PRICE $874,900 As with all distressed properties, short sales and bank owned foreclosures, the listing are very volatile and change on a daily basis. If you are interested please contact me a.s.a.p. at 310.505.5571   This traditional updated home is located in the Prime Royal Woods area of Sherman Oaks. The property was built in 1959 and extensively remodeled in 1973. Features include a granite kitchen, breakfast room with beautiful peek a boo city/mountain view, large family/living room with wet bar and sliding glass doors to backyard area, large formal dining room with recessed ceiling and three generous sized bedrooms downstairs (one with private bath and outdoor ...
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By Bandele Oguntomilade, Top REALTOR, Your Woodland Hills Real Estate Agent 818-825-6996
(Bogun Realty and Luxury Homes)
  To get a free list of best buys of upscale and luxury homes currently in Sherman Oaks, CA, and surrounding cities, click on the links below.  When you see a home that interest you, call Bandele Oguntomilade for a showing at 818-825-6996.  You may also visit my website at  www.BogunRealtyAndLuxuryHomes.com To view other homes click on links below: Woodland Hills Homes, Woodland Hills Real Estate, West Hills Real Estate,  Calabasas Real Estate, Encino Real Estate, Tarzana Real Estate, Studio City Real Estate, Sherman Oaks Real Estate, Hidden Hills Real Estate, Malibu Real Estate and Beverly Hills Real Estate Bargain Luxury Homes in Sherman Oaks, CA CLICK HERESearch MLS - All Homes CLICK HEREWhat’s My Home Worth Today  CLICK HEREGet $1000 at Close of Escrow with Bogun Realty & Luxury Hom...
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