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Sherman Oaks, CA Real Estate News

THE CARLOS GUITARLOS BAND WILL BE APPEARING AT THE SHERMAN OAKS STREET FAIR SUNDAY OCT. 20, 2013 VENTURA BLVD. WILL BE CLOSED FROM KESTER AVE. TO VAN NUYS BLVD. FROM 10:00 AM TO 6:00PM THE CARLOS GUITARLOS BAND WILL BE ON THE MAIN STAGE ON VENTURA BLVD. NEAR VAN NUYS BLVD. AT 4:00pm   The Carlos Guitarlos Band brings you Blues, Rhythm & Blues, Rock-N-Roll, Folk, Cajun, and deep true original ballads brought forth from a lifetime of experience and hard living.     The Carlos Guitarlos Band features CARLOS GUITARLOS - One of the world's greatest Americana, Roots and Blues songwriters / guitarists from the infamous TOP JIMMY & THE RHYTHM PIGS - a seminal LA blues band from the 80's -- Carlos has played with/for: Marcy Levy, Jim Keltner, Tom Waits, The Great Gene Taylor, Ray Manzarek, Los ...
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By Emily Rose Newmark
(Keller Williams Realty)
Discouraged Buyers - "We missed the boat!" I've been hearing repeatedly from my Buyer clients and new prospective Buyers I meet at my listings lately that they are frustrated with current market conditions. Understandably so! There are 5-10 if not more, qualified buyers in my area competing for every well priced listing in desirable locations. Discouraged Buyers - "We missed the boat!" But look on the bright side my friends, this number is down significantly from recent months during the 2013 Spring & Summer buying frenzy that we saw this year where I had no joke 30+ offers on several of my listings and they were selling nearly 5-10% over list price! Discouraged Buyers - "We missed the boat!" I believe the season change coupled with fluctuation in interest rates & the craziness that is...
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By Emily Rose Newmark
(Keller Williams Realty)
  Government Shut Down & Real Estate Business It's Day 4 of the government shutdown, many are saying nothing has changed, but what will this mean for real estate and those of us that sell it?  Fortunately, FHA has not shut down, so mortgage processing will not be affected for the Single Family Mortgage Loan Program, but the Multiple-Family Program will be shutdown. FHA, VA & USDA make up 45% of all loans being processed in the country today.  The following comes from the National Real Estate Post, a popular Real Estate info site with Frank Garay & Brian Stevens:    "FHA said they were going to shutdown with the rest of the Government, then changed their minds and said they were going to stay open insuring FHA loans.  What’s remarkable is that they’re going to stay open with only 4% of ...
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By Emily Rose Newmark
(Keller Williams Realty)
Winter Is Coming, Market Slowing Down, or Leveling Out? As usual this time of year, Real Estate agents see a decrease in listing and buying with summer in the rear view mirror.  A report came out last month and you may have heard about it on the news, "HOME SALES DOWN 13%!!!!" well, what some of you may have missed in that report was NEW home sales were down 13%.  Most of the real estate transactions I, and many of my colleagues deal with are existing home sales, which actually have continued to slightly increase.  But the shocking stats like the one above are the ones that make it on air. Winter Is Coming, Market Slowing Down, or Leveling Out? With the market having been so hot leading up to and throughout the summer months, (no pun intended), it is expected that a pull back of this su...
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By Emily Rose Newmark
(Keller Williams Realty)
All The Single Ladies......Are Buying Houses!According to a recent report from the National Association of Realtors, single women made up 16% of homebuyers nationwide, while single men made up 9%.  The percentage of single women homebuyers has averaged at 20% in recent years past.  This has been a growing trend since the 90s, women purchasing more than men.  It stands to reason as more women have become the primary earners in their households.All The Single Ladies......Are Buying Houses!Women are the breadwinners in 40% of American families with children and two-thirds of them are single!  One out of every five homes sold in this country are being purchased by single women, over a three year period the estimated amount in sales is roughly $550 billion!All The Single Ladies......Are Buyi...
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By Ralph Gorgoglione, California and Hawaii Real Estate (310) 497-9407
(Metro Life Homes)
ActiveRain MeetUp Los Angeles was a blast! Our ActiveRain MeetUp Los Angeles was held yesterday at the Cheesecake Factory in the Sherman Oaks Galleria. There were some new faces there, as well as ActiveRain members who have been around a while. We had a great time, and the food was delish! John Pusa - who is a great agent based out of Glendale, CA was there.  Very nice guy.  I enjoy speaking to John when I have the opportunity. Sharon Rollins and Janice Cohen from Keller Williams were there.  LOVE the both of them!  Richard and I have known them for many years from our Prudential days and they are both sweethearts. I met some new people this time around.  Tanya Knowles was there and she shared a little about her company called DaBest Solutions, Inc.  They offer some really great tools f...
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By Ralph Gorgoglione, California and Hawaii Real Estate (310) 497-9407
(Metro Life Homes)
ActiveRain MeetUp Los Angeles!!  You're invited!  Monday, August 19th, 11:30am - Cheesecake Factory, Sherman Oaks It's that time again!  Time to come together and DISH! Not about Liza's weight problem, but about real estate, the market, business in general, and.......oh hell, Liza's weight problem is totally fair game!! I would love to see your lover-ly ActiveRain faces in person!  And what better venue than a great restaurant like the Cheesecake Factory! It's a great central location too, located in the Sherman Oaks Galleria, with abundant parking.  You can get your parking validated by the restaurant.  Right off the 101 and 405 Freeways. Location is:  Cheesecake Factory15301 Ventura Boulevard Sherman Oaks, CA 91403 818-906-0700     LOCATION:Located in the Sherman Oaks Galleria. Plaza ...
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By Emily Rose Newmark
(Keller Williams Realty)
Foreclosures Lowest Since 2006 Another not-so subtle sign of economic recovery.  The national numbers on foreclosures are very promising.  Total foreclosure filings, including notices of default, scheduled auctions and bank repossessions, dropped to 127,790 in June, down 35% over the past 12 months, according to RealtyTrac. Filings have hit their lowest monthly level since December 2006. Foreclosures Lowest Since 2006 The nation number of foreclosures has dropped 14% since May 2013!  Foreclosures are no longer an issue on the national scale.  There are still a few states with higher than average results, but the country as a whole is witnessing this sharp decline.  However, bank reposessions are climbing steadily to more than 420,000 per year.  The national average in years past was onl...
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By Ralph Gorgoglione, California and Hawaii Real Estate (310) 497-9407
(Metro Life Homes)
ActiveRain MeetUp Los Angeles!!  You're invited!  Monday, August 19th, 11:30am - Cheesecake Factory, Sherman Oaks It's that time again!  Time to come together and DISH! Not about Liza's weight problem, but about real estate, the market, business in general, and.......oh hell, Liza's weight problem is totally fair game!! I would love to see your lover-ly ActiveRain faces in person!  And what better venue than a great restaurant like the Cheesecake Factory! It's a great central location too, located in the Sherman Oaks Galleria, with abundant parking.  You can get your parking validated by the restaurant.  Right off the 101 and 405 Freeways. Location is:  Cheesecake Factory15301 Ventura Boulevard Sherman Oaks, CA 91403 818-906-0700     LOCATION:Located in the Sherman Oaks Galleria. Plaza ...
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By Emily Rose Newmark
(Keller Williams Realty)
Supply vs. Demand - New Construction WoesMost of us in the Real Estate business don't often deal with new construction homes.  I'd wager that upwards of 90% of the average agent's business is resale.  (More like 99% personally) But we must take a look at what is happening with the construction of new homes as it'll eventually, if not already, effect comps and the market as a whole.  We all see that the market is beginning to spring back into action.  As a result, the demand for new homes is slowly rising.  We aren't quite back at the level we saw in 2004-2005 when the home building industry was producing over 1.8 million new homes a year, the current annual home building rate is below one million, but slowly rising. Supply vs. Demand - New Construction WoesNow that the market is pickin...
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By Emily Rose Newmark
(Keller Williams Realty)
Rising Rates, Not Always A Bad Thing The Real Estate market is certainly booming.  Depending on where you're at in the Real Estate picture, higher mortgage rates can be a good thing.  While rates were low, so was inventory, it still is, but I've seen a slight increase recently as more sellers realize the price they can get for their home.  People who normally wouldn't be able to finance a home could and are still able to do so as it stands now.  However, rising rates, means an increase in sales.  Which is certainly a good thing!  Luckily the rise in rates isn't too drastic just yet. Rising Rates, Not Always A Bad Thing Of course it's not all good news.  The rise in rates can leave some people out in the cold with the banks.  I've seen this happen in my own business.  Just last week when...
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By Emily Rose Newmark
(Keller Williams Realty)
Issues With Neighbors Can Lead to Decreased Property Value Scary barking dogs, what seems like a used car lot, yard used as storage, no landscaping maintence.....all of these things can lead to bringing the value of your home down.  Guilty by association (or by proximity, really).  So what does one do if they want to sell their house and the value is less than similar comparables in the area as a result of a neighbors lack of care?   Issues With Neighbors Can Lead to Decreased Property Value An article in CNN's Money Magazine from July 2013 addresses this issue.  We've all seen the unkempt, sometimes dilapidated house in an otherwise "nice" or "descent" neighborhood.  These houses pose more of a problem than just an inconvenient eye sore.  Homes of this nature could bring down neighbori...
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By Emily Rose Newmark
(Keller Williams Realty)
Long Way To Go, But The Market Is Looking Good! It's been a strange recovery and it isn't over yet.  Here are a few nationwide factoids that illustrate we are in a good place right now.   - For the first time in a long while, the housing cost-to-income ratio is at 23%, the lowest in 30 years!   (California specific figures however, would be a bit higher)  - 14% of renters moving out these days across the nation are doing so because they are buying property.  This number has been slowly rising since it bottomed out at roughly 11% in 2011.  The job market is making a comeback which in turn is producing qualified buyers that have only been able to rent until now.  - The National average monthly payroll employment growth amount is currently at $165k, whereas April 2012 was $112k.  There hav...
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By Emily Rose Newmark
(Keller Williams Realty)
How Much Does Safety Factor Into the Home Buying Process? A bit of a no brainer, but a recent study shows it can be more important than price to most home buyers.  John Burns Real Estate Consulting conducted a survey of almost 20,000 home buyers and had them rank key factors in making a decision to buy in order of importance.  Safety came in a close third only behind location and home design.  Price was ranked fourth. How Much Does Safety Factor Into the Home Buying Process? As we all have seen the news and felt the changes in our communites, many cities/counties are cutting back on police and emergency responders to save money.  While personally, I think this is the LAST place to cut budget corners, reality says otherwise.  The study also showed a direct corellation between law enforce...
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By Emily Rose Newmark
(Keller Williams Realty)
Buying Within Your Means: Be Prepared!!I recently read a column online that gave some great advice for home buyers; first timers and repeat buyers alike. I will link it below. The most important point that it illustrated is the difference between pre-qualification and pre-approval. Especially when you get to the offer submitting stage, a pre-qual letter from a lender is usually included but it pretty much doesn't mean anything without pre-approval to back it up. In other words, before you ever START house hunting, get PRE-APPROVED. It will only help you with your search by really telling you the highest you can go. Many times you might get pre-qualified for more than you actually get approved for and that can be deceiving to the hopeful buyer. Buying Within Your Means: Be Prepared!!As m...
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By Emily Rose Newmark
(Keller Williams Realty)
Real Estate Market Feeling Kind of Bubbly?For me?  The answer is Yes and No.  While sales are increasing and demand is high right now, it's not like the bubbles of Real Estate past where buyers are purchasing above their means and creating more debt.  Sales may have increased, but so have the amount of cash buyers, or financed buyers with large down payments and sufficient funds to back it up.Real Estate Market Feeling Kind of Bubbly?I've seen it first hand in my own business.  Not only do I represent several cash buyers (not all of them investors either) but many of my listings have had multiple cash offers or 30% plus down payments promised.  Since the price of sales are being driven up by demand, you won't see investors unloading left and right as they are waiting for a moment of opp...
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By Ralph Gorgoglione, California and Hawaii Real Estate (310) 497-9407
(Metro Life Homes)
I'm taking matters into my own hands.....in a BIG way The craziness of the market tends to bring out advantages and disadvantages. Advantages include the obvious such as increased activity, gains in home value, and all the hussle and bussle associated with that. But there are some disadvantages that have occured as a result of us coming out of a depressed market for quite a few years, and that is the greed, nastiness, and compromising of ethics that I'm seeing by a fair percentage of agents. I've found myself having to police my business, during a time when I really don't have the time. And I've had so many agents state that our local association of realtors doesn't really do too much about, or perhaps don't have the capacity or willingness to do so (and their organization dollars come ...
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By Emily Rose Newmark
(Keller Williams Realty)
Just wanted to pass along this link to everyone.  It's a very informative and interactive map posted by the LA Times. Southern California's Housing Recovery: An Interactive Map This is a great tool if you are considering selling and need some more information to help you make your decision! Southern California Housing Recovery This article goes hand in hand with the map: California home prices and sales increase in March Check out both links and comment below!
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By Emily Rose Newmark
(Keller Williams Realty)
Renting or Buying?  Which Will Save You More? The answer to this question really depends on where you are, market conditions, etc.  The California Association of Realtors has compiled information on the monthly cost of buying versus renting in a few major counties in California.  As you can see below, overall, buying is much more beneficial to consumers even when you take property taxes and insurance into account.  On average, buying yields a 32% savings in California!  
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By Emily Rose Newmark
(Keller Williams Realty)
Should We Remodel, Or Buy A New House? Many growing families who are finding themselves running out of room or just not happy with the current finishes their home has are now contemplating the age-old question, should we remodel our house or buy a new one? Although prices are beginning to increase, many people are still under water, so even if they feel they need to expand or upgrade, they fear sinking more money into their investment.  On the flip side, shopping for a new home with such limited inventory on the market for sale poses a huge challenge of its own for potential move-up buyers. Should We Remodel, Or Buy A New House? Attractive homes that are priced well are almost always met with a bidding war in this current real estate market.  We have recently had several bidding wars wi...
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