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Los Angeles, CA Real Estate News

By Annie Pinsker-Brown, Stage to Sell, Los Angeles Home Stager
(Stage to Sell - LA Home Staging)
Today I had an experience that reminded me why I LOVE my job as the owner of a Los Angeles Home Staging company. It reminded me that I do so much more than help people prepare their homes for sale. Some days I am also a Real Estate therapist. Today was one of those days! With all the craziness in the Los Angeles real estate market, I have been very busy in the past few weeks. So much so that, in order to fit in a client who needed some help selling her home, I arranged a consultation for a Sunday. When my client came to the door, she seemed surprised to see me. "Did we schedule a consultation for TODAY?" she asked. "Isn't today Sunday? Why would I do something like that?" I reminded her that we had picked this day because of my busy schedule and, though very flustered, she invited me in...
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By Dom Naidoo, Malibu to the Marina Real Estate
(Westside Properties)
Happy Monday everyone! I hope you enjoyed the weekend. My office and website www.WestsideHomeFinder.com receive a lot of inquiries regarding qualifying for the Extended Homebuyer Tax Credit. Here is the information that I share with everyone... – You qualify for the Extended Homebuyer Tax Credit if: You meet IRS income and homeownership rules. You sign a binding contract by April 30, 2010. You close on a home purchase by June 30, 2010. The home of your dreams may come with a bonus: a tax credit. Image: DreamPictures/Photodisc/Getty Images   There’s happy news for current homeowners: If you intend to sell your home and buy another in 2009 or 2010, you may be eligible for a federal tax credit of up to $6,500. The Extended Homebuyer Tax Credit legislation, passed in November 2009, also sha...
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By COMPASS PALM SPRINGS | Stewart Penn, COMPASS Palm Springs - Broker Associate
(COMPASS)
$7,050,000: A Short Sale on Donhill Drive in Beverly Hills. Originally listed in 2008 for $16,500,000, the price was reduced to $14.9 Million .... then to $12.9 Million ... and then further reduced to $11.5 Million. After being offered For Lease at $100,000 per month with no takers, the property was re-listed For Sale at $8.9 Million.A few months later the price was further chopped to $7.2 Million. This 6-Bed 9-Bath Balinese-style home constructed with imported materials from all around the world, features a theater, wine cellar and infinity pool. $6,300,000: This 6-Bed 5.5 Bath ocean view Villa on Pacific Coast Highway in Malibu was originally listed for $7,995,000. After 215 days on the market sold for $6,300,000 - representing a 20% discount to the List Price. This property had sold ...
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By COMPASS PALM SPRINGS | Stewart Penn, COMPASS Palm Springs - Broker Associate
(COMPASS)
There have been some mega-million dollar home sales in Los Angeles in January 2010, each with their own fascinating story highlighting the huge price reductions in mega million dollar homes. $19,500,000: (Previous Sale Price: $19,150,000) Situated on Oriole Drive in the Hollywood Hills above the Sunset Strip, this Tuscan Villa measuring almost 10,000 sq ft sold for $19.5 Million. Built in 2006, the 6-Bed 8.5 Bath home features a long Cypress-lined driveway leading to a large motor-court, a wood burning pizza oven and a wine cellar. It's interesting to note that the property was sold in 2006 for $19,150,000. In 2008 it was listed for sale at a huge premium of $29,000,000. After being reduced to $28 Million and then to $24 Million, the price was further reduced to $21.9 Million where it r...
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By JB Brookman, High School Senior Portrait Photographer
(JB Brookman Photography)
For full-service graphic design, please check out my wife's company: www.jenbrookman.wordpress.com   About Jen Brookman Graphic Design: With over eight years of graphic design experience and a large international client base, Jen Brookman has worked with a vast array of business owners and companies. But, it is her heart for helping people and strong knowledge of business and marketing that make her stand out from the rest. Jen is a wonderful communicator. She takes the time to listen to her valued clients and asks strong questions that uncover their wants and needs. The result is a relationship-based experience that leaves the client satisfied and excited with their design or project. Jen's design experience has included working as a Freelance Artist and working at a large Los Angeles ...
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By Lupe Soto-Realtor, Listing, Selling Burbank, San Fernando Valley LA
(Premier Realty Assoc)
1/28/10 Fannie Mae, the largest provider of residential home funding in the United States, announced Friday that it would pay the closing costs on purchases of foreclosed homes in its inventory.The government-controlled company said buyers of qualified properties will get up to 3.5 percent in closing costs, or an equivalent amount for the purchase of new appliances.The goal of Fannie is to clear out the nearly 50,000 properties it has in inventory."Attracting qualified buyers to the market and reducing inventory of vacant homes is critical to stabilizing neighborhoods and helping the market recover," said Terry Edwards, executive vice president for credit portfolio management, in a statement. Source: Reuters News, Al Yoon (01/28//2010) All offers to Fannie Mae must be presented by a Lic...
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By COMPASS PALM SPRINGS | Stewart Penn, COMPASS Palm Springs - Broker Associate
(COMPASS)
Stewart Penn | Penn Properties | 310.844.6515 11645 Montana Ave #233, Los Angeles, CA "The Lowest Priced Condo in Brentwood - January 2010" Studio/1BA Condo offered at $299,000 Year Built 1973 Sq Footage 500 Bedrooms Studio Bathrooms 1 full, 0 partial Floors 1 Parking 1 Car garage Lot Size Unspecified HOA/Maint $350 per month DESCRIPTION Fabulous security building located on Montana Ave close to trendy shops & restaurants. This quiet corner spacious single has a good size kitchen with new travertine floors & bar area. Living area has new carpet, fireplace, large windows & new air conditioner. Wonderful remodeled bath with travertine shower & floors. Walk-in closet. On-site management, pool, spa & sauna. see additional photos below PROPERTY FEATURES - Fireplace - Walk-in closet - Tile f...
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How to Settle Your Credit Card Debt Class   -   Los Angeles, CA Learn More      Sign Up Credit Card Problem Solution How to Settle Your Credit Card Debt   Read this if you find your self overwhelmed by credit card debt.  Credit card problem solution is what this blog entry is about. A Common Credit Card Situation Maybe this happened to you too.  I used my credit cards a very good bit.  I was always up to date in payments but kept raising the balance.  That is my fault.  I could pay the cards no problem.  However, suddenly, the interest rates went astronomical.  I could no longer pay the debt.  Faster than I thought, I had a credit card problem. Pondering the Credit Card Situation One day I could no longer stand my self in these situation.  I went to a coffee house downtown Portland, got...
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By Danny Batsalkin, Los Angeles Real Estate | 310.432.5706
(Keller Williams Realty - Beverly Hills)
Los Angeles Local Business Spotlight: Sarah Peters | World Citizen Baby Since he was 6 months old, my son Maksim has been taking music classes at our local music and dance studio, Creative Seeds, which is located in my neighborhood of Wilshire Vista.  If you would like to find out more about Wilshire Vista, check out my Wilshire Vista real estate update! Today, for the first time I went to the Word Citizen Baby class with Maksim and it was AWESOME!  We had a great time dancing and singing!  Sarah Peters is incredible on the drums, guitar and other instruments, and Maksim really had a blast! Here's the description of the class: World Citizen Baby is a parent and child music and movement class designed to build a larger understanding of our global community. We playfully explore different...
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By Alf Gizzo
(Transitional Housing Advisors)
Rental profits quadrupled with great tenants. Los Angeles, CA   When I blog about renting out individual rooms the conventional thinking on the topic goes to a rental population of students, seniors and the mentally and physically challenged. I say think outside the box – it’s a great time to be unconventional and observe your rental units cash flow like never before. As written in yesterday’s post, on average a $1,000 a month in net cash flow per property.   Our preferred tenant wont’ fit into any of the above-mentioned categories. We have discovered that the renters we work with – ex-offenders of soft crime - can be less of a bother and less expensive than those most people think of when renting out individual rooms. With anyone on parole or probation, finding a place to live is often...
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By Johnny Burke
(Keller Williams Realty)
The Southern California Home Buyer's Fair is offering a free, two-day primer on the home-buying process . This 2 day event will be held on March 13th & 14 at The Los Angeles Convention Center, located at 1201 S. Figeroa St., Los Angeles, Ca 90015. There will be more than 50 educational "how-to" seminars and a large exhibit hall, designed to help you navigate today's real estate market with confidence and peace of mind.  For more info, visit  http://www.homebuyersfair.com
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By Alf Gizzo
(Transitional Housing Advisors)
Quick and easy ROI Calculator. Los Angeles, CA Here is a quick and simple way to calculate how much you could earn using our system of renting out individual rooms in transitional housing. $450 a month for private bedrooms and $750 a month for the shared ones (12x12 or larger). Just add it up in your head, and then subtrack your operating expenses; e.g., mortgage payment, insurance, taxes (PITI) and utilities, Viola, there’s your net cash flow, and on the average probably around $1,000 a month. One of our most recent students just opened a 4 bedroom, split level, single family residence (SFR) in a nice working class neighborhood on January 11th. Two rooms are renting out as privates for $450 a month, and two larger bedrooms will be rented out as semi-private rooms for $750 a month. Semi...
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By Jane Peters, Los Angeles real estate concierge services
(Home Jane Realty)
Echo Park is one of the top growing areas in the U.S.  It's proximity to down town, spectacular views and still affordable housing by Los Angeles standards, draws a diverse population and a good place for first-time home buyers to investigate. The statistics below, cover the major Echo Park areas (90026), are taken directly from the MLS and are for single family homes.  They also don't take into consideration condos, income property and private sales. There were 10 sales in the month of December. The most expensive home sold was $786,000 in the hills and $865,000 in the flats. There were only 9 sales in December '08. The median sales price was $480,000 approximately a 25% decrease over December '08. Average days on the market for sold properties was 65, down from 105 in December '08. Be...
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BestShortSales.com Presents Learn How to Stop Foreclosure Training Webinar The Exact Way to Do It     Stop foreclosures at the last moment     Save your short sale transactions     Let the homeowner stay longer at the property for free     Gain 45 days to over a year of extra time     A MUST for Real Estate Professionals   Enroll  Now Why Learn This Let’s face it.  There are moments when you just need more time before the bank forecloses.  In this webinar you will learn how to stop foreclosure at the last moment.  If you are in real estate, you should be a master at this. How it Works Foreclosures are executed within a legal framework, clerical process.  Banks exercise their legal rights and act according to their logistical convenience.  You will learn to stop foreclosure by counter ac...
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By Danny Batsalkin, Los Angeles Real Estate | 310.432.5706
(Keller Williams Realty - Beverly Hills)
You have all probably heard about the $8,000 first time home buyer tax credit that got the real estate market in a frenzy towards the end of last year. And you have also probably heard that the tax credit has been extended through May 1, 2010 and expanded to include a $6,500 credit for repeat home buyers and now includes increased income limits for eligibility.   You've all read the posts explaining the details of the credit. The big question, though, is What are you going to do with YOUR $8,000? Sometimes people look at these tax credits and don't realize the full impact of them. Think about it ... this tax credit does not just lower your taxable income (like some other credits) ... it is essentially Uncle Sam saying "Here's $8,000 ... ENJOY!"  Now come on, really, how often does that ...
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By COMPASS PALM SPRINGS | Stewart Penn, COMPASS Palm Springs - Broker Associate
(COMPASS)
Last week the Supreme Court ruled that corporations may spend as freely as they like to support or oppose candidates for president and Congress. This will obviously result in huge sums of corporate money being thrown at this year's congressional elections which is set to be extremely fierce and competitive. Republicans (traditional allies of "Big Business") praised the ruling while Democrats voiced their concerns. "It gives the special interest lobbyists new leverage to spend millions on advertising to persuade elected officials to vote their way - or to punish those who don't," said President Obama. "This ruling strikes at democracy itself." Senator John McCain stated that "campaign finance reform is now dead" but he expects a backlash from voters over time. I believe that all American...
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By Matt Sweeney, Rich Kids Real Estate
(Rich Kids Real Estate: The Brokerage)
After making you sit through my mold lecture on Thursday, I promised you a little fantasy property action. There is actually a fairly amusing story to this listing. I was sitting with a friend of mine in the sauna at the gym (get your mind out of the gutter, it was nothing like that) and he had mentioned thatan acquaintance of his was considering listing a property in Holmby for some astronomical figure of $50,000,000 (keep in mind that this was a few years ago when the market was a lot hotter for sellers). Obviously like any eager young agent I said, "who is this friend and how can I get his contact info?" The owner had purchased another beautiful mansion in the most prime section of Beverly Hills and couldn't decide which property to reside in. What a terrible dilemma to have! Anyways...
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By Dom Naidoo, Malibu to the Marina Real Estate
(Westside Properties)
Happy Saturday everyone! The storms have subsided. The bright blue sky and sun are once again visible in Southern California! Here are a few weekend activities: Big Tour: Cold War KidsSoCal natives kick off national tour in support of their new EP, Behave Yourself.Hang Me Up To Dry: It's the song you know.Fri 7:30p. The Wiltern, 3790 Wilshire Blvd. (213-388-1400). $20. Nearby: Frank N Hanks; HMS Bounty; Maitreya Retro Catwalk: 30 Years of Pin-UpEnjoy cocktails while modern models parade around in vintage lingerie and bathing suits dating from the '20s to the '50s. Famous artists: The work of legendary pin-up illustrators likeVargas will also be on display.Sun 6-8:30p. Warner Grand Theatre, 478 West 6th St., San Pedro (310-548-7672‎). $25-35 here. Nearby: Ports O' Call; The Whale & Ale; ...
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By Risa Liebster, Toluca Lake Real Estate
(Ramsey-Shilling Associates)
Not In My Backyard! Toluca Lake Residents Defeat Proposed Parking Lot. On January 11, 2010, about 75 Toluca Lake area residents and their supporters gathered to attend an open meeting of the Burbank Planning Board. The matter at hand was whether or not the prestigious Lakeside Golf Club would be granted a variance and C.U.P. (conditional use permit) with regard to a proposed surface parking lot. The proposed lot slated for near the intersection of S. Rose St. and Hood Ave. on the Burbank side of Toluca Lake , while on private land, would have been positioned as near as 35 feet to the closest single family property. As it was explained, the club's intentions were to create additional parking in this area solely for their employees. Light and noise issues combined with concerns about cong...
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By Endre Barath, Jr., Realtor - Los Angeles Home Sales 310.486.1002
(Berkshire Hathaway HomeServices California Properties)
How to get an offer accepted? Use a Realtor! I wrote this post a while back and now after reading it I find it how true this post was then and how it is timeless now.Many buyers are asking on various Internet portals how to get an offer accepted.  My answer has not changed and the answer  is still the same:  That is easy, use a Realtor. The multiple offer phenomenons have returned in certain markets. Where is that? The areas are in the Short sale and Bank-owned property. This market is smoking. (Ironically this statement has expanded to all properties) I have buyers who have submitted at least 15 offers. Forget low balls, think full price and above asking price. Then why is my offer still not accepted? Buyers ask these questions. How is it that the lower priced offer got accepted? The a...
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