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Los Angeles, CA Real Estate News

By COMPASS PALM SPRINGS | Stewart Penn, COMPASS Palm Springs - Broker Associate
(COMPASS)
I recently blogged about some of the most expensive properties for lease in Los Angeles and Malibu. Here are a few more of these mind-blowing mega leases to consider: 24826 Malibu Rd, Malibu, 90265 - $75,000 This sophisticated architectural home on Malibu Beach features 5-Bed and 6-Baths and has a high vaulted glass roof. The property sold in 2003 for $3.2 Million and was re listed for sale in 2006 for a whopping $17.5 Million. The prices was reduced to $14.5 Million but never sold.  In 2008 the home was listed For Lease at $75,000; records indicate it was rented out at $45,000 per month. 1235 Sierra Alta Way, Los Angeles, 90069 - $75,000 Situated in the Hollywood Hills is this 10-Bed 14-Bath 3-story house complete with a commercial elevator. The property also features a tennis court wi...
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By Deborah Bremner
(John Aaroe Group)
Los Angeles's most famous real estate sign, the infamous "Hollywood" sign atop Cahuenga Peak, was finally saved once again this week by Hugh Hefner (yes, THAT Hugh Hefner).  Speaking from the Mansion (yes, THAT mansion), Hefner said he was moved by his love for Los Angeles, its rich history, and his love of entertainment and the movies.  "The sign, for me, is our Eiffel tower, representing everything Los Angeles stands for.  My childhood dreams and fantasies came from the movies, and the images created in Hollywood had a major influence on my life and Playboy."     This is the second time Hefner has come to the sign's rescue.  In 1972, when the dilapidated wooden sign faced destruction, Hefner and friends raised $250,000 to repair the sign, and dedicated the letter "Y" to Hefner for hi...
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By Fred Sweezer Sr. CMI, LLC., HUD 203k Consultant
(Hud Certified 203K Consultant)
The primary purpose of venting is to allow air quality to flow through the house in unoccupied areas such as the raised foundation, and attic, if the house did not breath, stale air will cause the air quality to be offensive mostly doing the winter months. At any point you open the crawl space vents or slide them open you possibly will allow animals to enter the attic or enter the raised foundation area some animals find crawl space electrical wiring insulation very tasty! and if you have a floor furnace, that is a very warm spot for the critters! Animal relief "piles" are very toxic, some cats built up a  "pile" under one customers bedroom area under the house over the years and the occupants that was sleeping over that floor space where these "piles" was and got very sick from the emi...
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By Fred Sweezer Sr. CMI, LLC., HUD 203k Consultant
(Hud Certified 203K Consultant)
  Childproofing Your Home: 12 Safety Devices to Protect Your Children   About 2.5 million children are injured or killed by hazards in the home each year. The good news is that many of these incidents can be prevented by using simple child-safety devices on the market today. Any safety device you buy should be sturdy enough to prevent injury to your child, yet easy for you to use. It's important to follow installation instructions carefully. In addition, if you have older children in the house, be sure they re-secure safety devices. Remember, too, that no device is completely childproof; determined youngsters have been known to disable them. You can childproof your home for a fraction of what it would cost to have a professional do it. And safety devices are easy to find. You can buy th...
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By COMPASS PALM SPRINGS | Stewart Penn, COMPASS Palm Springs - Broker Associate
(COMPASS)
The CLAW MLS has published this chart which shows encouraging news for the Los Angeles condo market stretching from Downtown LA to the Ocean. The number of days that condos are on-the-market has delined by 26% from March 2008 to March 2010. This trend shows that the "slack" is being taken up an an increasing rate and is a positive sign that market activity has picked up. The trend for the number of days on-the-market for single family homes has also improved from March 2008 to March 2010, with a decline of 11%.
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By Jane Peters, Los Angeles real estate concierge services
(Home Jane Realty)
  The Palms - Mar Vista housing statistics below are taken from the MLS/CLAW and are for single family homes only.  They do not include condos, income property, or private sales. March was not a very good month for the Palms - Mar Vista area of Los Angeles in terms of homes sold.  The number of homes sold was up significantly, but the median price as down and the median list price vs median sold price took a 410% drop.  Days on the market of homes sold was significantly higher and the months supply of inventory is up 83%.  The number of homes under contract is up 75%. Let's hope this is a blip on the radar and that April and May will show a healthier market. Search for homes in Palms - Mar Vista
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By COMPASS PALM SPRINGS | Stewart Penn, COMPASS Palm Springs - Broker Associate
(COMPASS)
There's been a lot of talk about how the American Dream of owning Real Estate has shifted and the dream is now to rent real estate instead. So I decided to see what mind-blowing awesome properties were available to rent in Los Angeles, and believe me there is not a shortage of listings to take your breath away. 9505 Lania Lane, Beverly Hills, 90210 - Listed at $250,000 Yes, you read right ..... this 11-Bed 14-Bath house (minutes from Rodeo Drive) is available to lease at $250,000 per month. The security deposit on this listing is $500,000. Public records show the property was sold in 2007 for an astounding $35 Million, having originally been listed at $65 Million in 2005. 655 Sarbonne Rd, Bel Air, 90077 - Listed at $125,000 Slightly more modest than the house above, this 7-Bed 11-Bath 1...
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By Fred Sweezer Sr. CMI, LLC., HUD 203k Consultant
(Hud Certified 203K Consultant)
Maytag Recalls Dishwashers Due to Fire Hazard WASHINGTON, D.C. - The U.S. Consumer Product Safety Commission, in cooperation with the firm named below, today announced a voluntary recall of the following consumer product. Consumers should stop using recalled products immediately unless otherwise instructed.   Name of product: Maytag(r) and Jenn-Air(r) brand dishwashers   Units: About 2.3 million   Manufacturer: Maytag Corp., of Newton, Iowa   Hazard: Liquid rinse-aid can leak from its dispenser and come into contact with the dishwasher's internal wiring which can short-circuit and ignite, posing a fire hazard.   Incidents/Injuries: Maytag has received 135 reports of dishwasher fires, resulting in product and/or property damage. Four injuries have been reported, including three reports ...
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By Fred Sweezer Sr. CMI, LLC., HUD 203k Consultant
(Hud Certified 203K Consultant)
  Firm's Recall Hotline: (800) 797-5912, ext. 108 CPSC Recall Hotline: (800) 638-2772 CPSC Media Contact: (301) 504-7908   Wood Burning Stoves Recalled by SCAN Andersen Due to Injury Hazard   WASHINGTON, D.C. - The U.S. Consumer Product Safety Commission, in cooperation with the firm named below, today announced a voluntary recall of the following consumer product. Consumers should stop using recalled products immediately unless otherwise instructed.   Name of Product: SCAN Andersen 10 Wood Burning Stove   Units: About 200   Importer: Jotul North America, of Gorham, Maine   Manufacturer: Jøtul AS, Fredrikstad, Norway   Hazard: The stove’s door can dislodge and fall from its hinges, posing a risk of injury to consumers.   Incidents/Injuries: Three incidents were reported to the firm incl...
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By Dom Naidoo, Malibu to the Marina Real Estate
(Westside Properties)
Forty years after the first Earth Day, the world is in greater peril than ever. While climate change is the greatest challenge of our time, it also presents the greatest opportunity – an unprecedented opportunity to build a healthy, prosperous, clean energy economy now and for the future. Earth Day 2010 can be a turning point to advance climate policy, energy efficiency, renewable energy and green jobs. Earth Day Network is galvanizing millions who make personal commitments to sustainability. Earth Day 2010 is a pivotal opportunity for individuals, corporations and governments to join together and create a global green economy. Join the more than one billion people in 190 countries that are taking action for Earth Day. ·        Compost your organic waste! That way we will make our plan...
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By Fred Sweezer Sr. CMI, LLC., HUD 203k Consultant
(Hud Certified 203K Consultant)
    Gas Water Heaters are sold with warranties covering 12 years, 9 years, and 6 years and sizes 100 gallons, 50 gallons, 40 gallons, 30 Gallons, and 20 gallons. You need to consultant with a specialist for your needs. Replacing a water heater or knowing when to replace water heaters involves a lot of skill. There is obvious ways; a leak in the body of the heater requires immediate replacement. If there is a major malfunction, such as complete or partial loss of hot water supply, leakage around plumbing fittings or the appearance of excessive corrosion on the heater body itself or at the heater's plumbing connections, and the unit is out of warranty or more than eight years old, replacement may be preferable to repair. I would leave this up to your budget and repair skills. You don’t n...
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By Fred Sweezer Sr. CMI, LLC., HUD 203k Consultant
(Hud Certified 203K Consultant)
"Down Town" that is the way Angelians refer to the Historic District, City Of Los Angeles, if you ask them " how do I get to City Hall"? they just simply say "Down Town", the Angel Flight is also "Down Town" in the historical district of Los Angeles, it is referred to as the shortest train ride you can experience but if you use the flight of stairs next to the track you will appreciate that the ride is enjoyable.    Stairs going up! Take them if you want to burn a few calories!                   This is one of the land marks of the City of Los Angeles, as to Los Angels finance troubles, I am like little junior Walker "Waaay Back Home" "there is good and bad things about the south" (southern California in this case), everybody know the bad but what about the good?          Some of the H...
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By Matt Sweeney, Rich Kids Real Estate
(Rich Kids Real Estate: The Brokerage)
Actual View From All Rooms in House I have to say that I was a little disappointed with the properties that I  previewed yesterday. I had high hopes for the the three that I had blogged about. Like I mentioned, it is always best if I can see a property before a client does because often the photos do not match up with my vision of the house itself. With that said, I see tremendous potential with the listing on Fareholm in the Hollywood Hills off of Fairfax. The house is a fixer for sure: OK curb appeal, but the house itself appears to have very good bones for a remodel and possibly an upper level expansion (although height restrictions would be something that one would need to check with the city on). Structurally, the house has a nice open flow to it with the main living area and kitc...
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By Endre Barath, Jr., Realtor - Los Angeles Home Sales 310.486.1002
(Berkshire Hathaway HomeServices California Properties)
Did you know that a reconveyance of a Trust Deed needs to be recorded? This should not come as a surprise to anyone. Now that more and more creative sales are taking place, such as seller financing, this is important to let the buyers know, that once they paid off the loan to the seller, they need to have the Trust Deed reconveyed by the seller. The seller has to sign the Reconveyance; they need to notarize it and then take it to the County for Recording. If this is not done, then the buyer s could be in a precarious position, when they try to sell the property. Hopefully the previous party is still somewhere accessible, willing and alive to re-convey the Trust Deed. This is not an everyday issue; nevertheless it can create added challenges to a closing. Listing Agents should check with...
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By Andrew Cohn
(ALC Risk Solutions and The Jewish Business Magazine)
Los Angeles marketing firm, The BrandX Group, thrives in the rough economy with the leadership of CEO, Adam Bierman. On April 13, 2010, Andrew Cohn from the Jewish Business Magazine had the pleasure of interviewing  the founder of The BrandX Group, a comprehensive marketing, branding and public relations firm in Los Angeles, California, Adam Bierman. The BrandX Group in Los Angeles, California was founded in 2004, and today employees 27 marketing and public relations professionals. The BRANDX GROUP is a full-service brand management firm with capabilities including marketing, branding, public and media relations, product development, web design, business collateral, event planning and promotions that produce quantifiable results that improve the client's bottom line and gain exposure on...
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By Matt Sweeney, Rich Kids Real Estate
(Rich Kids Real Estate: The Brokerage)
As most of you, Tuesday is Broker's Open. It's the glorious day when we get to see what new properties have hit the market, how the prices are trending, and where the exceptional deals are! Caravan (the official name for Broker's Open) is also a nice opportunity to catch up with agents and to find out about any new listings or pockets that will be coming down the pipeline. As I looked throughthe list of properties to preview today, there are definitely some homes on my radar that look interesting. If possible, I try to always see listings before I show them to my clients or blog about them. Photoshop is a wonderful tool and as Michael K says in my favorite gossip blog (www.dlisted.com), there are many that should win a "Photoshop Lifetime Achievement Award" because I am often wondering ...
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By COMPASS PALM SPRINGS | Stewart Penn, COMPASS Palm Springs - Broker Associate
(COMPASS)
Last weekend I blogged about a $6,495,000 REO in Los Angeles - 10772 Chalon Rd, Los Angeles. Today I noticed another surprising multi-million dollar REO on The MLS: 33730 Pacific Coast Highway, Malibu, CA 90265 - Listed at $14,950,000 The estate was listed in 2006 for $20 Million but it didn't sell. It was re-listed in 2007 for $19,950,000 and again, the listing expired unsold. In 2008 it was re-listed yet again, this time at $19,900,000. After 6 months the price was reduced to $17,995,000. Another six months later and the price was reduced to $16,495,000. A Notice of Default was served in May 2009 and in February 2010 the bank took back the property and has listed the property for sale at $14,950,000. Records indicate that there was over $13 Million secured against the property with a ...
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By Jane Peterson
(Alliluja)
Yesterday I watched once again my favorite movie about James Bond. I’ve seen all of them. And the film made me think about a present day James Bond. What devices would he use today? Of course, a flashy Ferrari car, a sports model.  If he needed a bike, it would be a Harley Davidson. What about clothes? I guess it would be something from Armani (here you can introduce your own ideas). But the most interesting things are spy devices that would help him in his work. I think they would be a spy earpiece, a digital pen with image capture and the possibility of video recording, a spy camera watch, sun glasses camera and some others.      What do you think?
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By COMPASS PALM SPRINGS | Stewart Penn, COMPASS Palm Springs - Broker Associate
(COMPASS)
Certainly Not Your Average REO - 10772 Chalon Rd, Los Angeles, CA 90077 Chalon Road in Bel Air / Holmby Hills (Los Angeles) is one of the most expensive streets in Los Angeles with homes selling for up to $28 Million. Current listings range between $6,495,000 - $28,900,000. It's therefore surprising to find this REO listing at 10772 Chalon Road for $6,495,000. The MLS listing describes thie property as an elegantly restored 1930's Hollywood Regency design with architectural details: "Dramatic formal entry, massive living room, 4 bedrooms + staff, 8 baths, pool, gym, game room and professional 35MM screening room. Set on almost an acre of beautifully landscaped grounds, terraces overlooking verdant vistas. Fabulous for entertaining and serene living. Completely private. Originally develo...
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By Jane Peters, Los Angeles real estate concierge services
(Home Jane Realty)
The chart below reflects the sales of homes in Westwood and the Westside of Los Angeles for March 2010.  The report is taken from the MLS CLAW, is for single family homes, and does not include condos, income property, and private sales. The zip codes covered are 90024 and 90025. Overall the figures are promising.  From one home sold in February to 10 in March, with a 70% drop for days on the market for the homes sold, a 63% increase in homes under contract and a drop of 40% in months supply of inventory, this shows a healthy recovery in Westwood homes sales last month. Although the Federal home buyers tax incentive is due to end on April 30th, thoughts are that buyers will wait to close in May to take advantage of the California first time home buyers credit which starts May 1.  April ...
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