Sellers should ensure that condo projects are on approved list for FHA mortgages - www.4Malibu.com - 07/30/10 04:18 PM

 
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Sellers should ensure that condo projects are on approved list for FHA mortgages
Condominium owners who are trying to sell in today's agonizingly slow housing market should make sure that their community is on the Federal Housing Administration's approved list. Ditto for someone who is thinking about refinancing a condo.Under a little-noticed edict put in place in December, the FHA is no longer approving mortgages on condominium units on a spot, loan-by-loan basis. Now the entire project must … (0 comments)

Home prices rise despite fewer sales - www.4Malibu.com - 07/30/10 01:04 PM
 
 
 
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Home prices rise despite fewer sales
Following the expiration of the federal home buyers tax credit, sales of existing, single-family homes in California declined 4.2 percent during the month of June compared with the prior year, according to the CALIFORNIA ASSOCIATION OF REALTORS®' (C.A.R.) June sales and price report.  Meanwhile, the median price of existing homes in California rose 13.6 percent on a year-to-year basis to $311,950.  The median price is the point at which half of … (0 comments)

How to avoid an appraisal fiasco - www.4Malibu.com - 07/29/10 01:07 PM
 
 
 
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How to avoid an appraisal fiasco
More home deals are falling apart when appraisals come in far below purchase price.
Because of firewalls put in place in early 2009 to guard against inflated appraisals, common during the real estate boom, more deals are falling apart at the last minute when home appraisals come in far below the agreed-upon purchase price.
So if you're in the market to buy a home, you need to be especially careful about … (0 comments)

Foreclosures Rise in Three-Fourths of U.S. Cities in 2010 - www.4Malibu.com - 07/29/10 12:57 PM
 
 
 
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Foreclosures Rise in Three-Fourths of U.S. Cities in 2010
Foreclosures increased in 154 of 206 US metro areas in the first half of 2010 over the year-ago period, according to RealtyTrac, which analyzed foreclosure data in metropolitan areas with 200,000 people or more.
Metropolitan Statistical Areas (MSAs) in four states - Florida, California, Nevada and Arizona - accounted for the top-20 foreclosure rates in the country. Florida had nine of them, followed by California with eight, Nevada with … (0 comments)

Apartment Rentals Surge in U.S. on Home Foreclosures - www.4Malibu.com - 07/28/10 01:28 PM
 
 
 
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Apartment Rentals Surge in U.S. on Home Foreclosures
U.S. apartment landlords are seeing a surge in rentals as mounting foreclosures reduce homeownership and an improving job market for young adults encourages them to find their own places to live.
The number of occupied apartments increased by 215,000 in the 64 largest U.S. markets in the first half, according to MPF Research. That's almost double the units added in all of 2009 and the most since the firm … (0 comments)

MIT-Harvard Study: Foreclosure drops house value by 27% - www.4Malibu.com - 07/27/10 02:08 PM
 
 
 
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MIT-Harvard Study: Foreclosure drops house value by 27%
A foreclosure reduces the value of a house by 27%, on average, and accounts for a much steeper price drop than other forced sales, according to a study by an Massachusetts Institute of Technology (MIT) economist and two Harvard University researchers.
In comparison, when a house is sold after the death of an owner, the price drops 5% to 7% on average. When an owner declares bankruptcy, the value … (0 comments)

Home Prices are Improving in Ways that Trouble the Housing Market - www.4Malibu.com - 07/26/10 06:44 PM
 
 
 
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Home Prices are Improving in Ways that Trouble the Housing Market
Home prices are up in two leading economic indicators today, but instead of reacting positively, the housing industry remains troubled by the not-so-good news.
The 25-MSA Radar Logic residential property index (RPX) Monthly Composite for May finds that home prices increased 2.1% on a year-over-year basis, but adds that gains were not large enough to be described as a recovery. When looking at more than the … (1 comments)

Foreclosure crisis: 1 million in U.S. expected to lose homes this year - www.4Malibu.com - 07/22/10 06:23 PM
 
 
 
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Foreclosure crisis: 1 million in U.S. expected to lose homes this year
More than 1 million American households are likely to lose their homes to foreclosure this year, as lenders work their way through a huge backlog of borrowers who have fallen behind on their loans.
Nearly 528,000 homes were taken over by lenders in the first six months of the year, a rate that is on track to eclipse the more than 900,000 homes repossessed in … (0 comments)

Fannie Mae to prohibit lenders from changing home appraisals - www.4Malibu.com - 07/22/10 06:08 PM
 
 
 
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Fannie Mae to prohibit lenders from changing home appraisals
To comply with the stricter lending guidelines of Fannie Mae and Freddie Mac, and to avoid accusations that the loans sold to Fannie and Freddie are based on inflated appraisals, some real estate professionals have reported lenders lowering home values on appraisals submitted to them.  However, effective Sept. 1, Fannie Mae is prohibiting the purchase of loans from lenders who change appraisers' numbers.  Generally, lenders order a low-cost electronic … (0 comments)

Mortgage defaults in California at 3-year low - www.4Malibu.com - 07/22/10 05:55 PM
 
    

 
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Mortgage defaults in California at 3-year low
The number of default notices in the second quarter falls 43.8% compared with the same period in 2009. Meanwhile, banks step up repossession of foreclosed homes.
The number of Californians entering foreclosure slid dramatically in the second quarter to a three-year low as the fallout from the worst of the housing crisis continued to abate.Default notices, the first stage of the foreclosure process initiated by banks on troubled … (1 comments)

Housing Market Stumbles - www.4Malibu.com - 07/21/10 09:04 PM

 
 
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Housing Market Stumbles
The housing market, whose collapse pulled the economy into recession in late 2007, is stalling again.
In major markets across the country, home sales are deteriorating, inventories of unsold homes are piling up and builders are scaling back construction plans. The expiration of a federal home-buyers tax credit at the end of April is weighing on the market.
On Tuesday, the U.S. Census Bureau said single-family housing starts in June fell by 0.7%, to … (0 comments)

For Sale - 3B/2B - Top of Sylmar - Recently remodeled - www.4Malibu.com - 07/21/10 08:51 PM
FOR SALE
$379,000
3B/2B
13769 Shablow Ave., Sylmar, CA

Beautiful views of the picturesque San Gabriel Mountains. Updated and remodeled kitchen has granite counter tops, breakfast bar, & new cabinets. Remodeled bathrooms. Over-sized attached two car garage, with new doors. Private master with French doors that lead out to the spacious and secluded backyard featuring a terraced patio, ideal for entertaining. New dual pane windows, carpet, tile & paint throughout.
 
 
Bobby Lehmkuhl ׀ Bobby@4Malibu.com ׀ 310.365.7696 ׀ Broker Lic. #01457517
Danielle Dutcher ׀ Danielle@4Malibu.com ׀ 310.773.7556 ׀ Broker Lic. #01463653
 
Material discussed is meant for general illustration … (2 comments)

Creative buyers do end run around foreclosure auctions - www.4Malibu.com - 07/16/10 02:42 PM
 

 
 
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Creative buyers do end run around foreclosure auction. Consider approaching investors immediately following a foreclosure purchase.
If you've ever wished you could show up at a foreclosure auction and leave with your dream home, but lack the ability to flash the cash needed to buy on the courthouse steps, not all is lost.
Some buyers have discovered the next best thing - purchasing directly from the investors who bought the property at auction before it goes … (0 comments)

What to do if you receive a brush clearance Violation Notice (410B) - www.4Malibu.com - 07/13/10 05:34 PM
 
 
 
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Brush Clearance Guidelines & Timeframes
 
Although brush clearance inspections occur once a year, remember that maintenance is a year-round responsibility. The Los Angeles County Fire Code requires all structure owners to comply with brush clearance (fire hazard reduction) requirements in an area up to 200' from structures. In essence, these requirements are as follows:
 
•·        Cut all cured grasses to 3" within 200' of structures.
•·        Maintain all plants free of deadwood.
•·        Maintain … (0 comments)

Creating Defensible Space by Addressing Vegetation - Fire Hazard Reduction Tips - www.4Malibu.com - 07/13/10 04:38 PM
 

 
 
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Creating Defensible Space by Addressing Vegetation 
The goal of fire hazard reduction is to ensure defensible space while protecting natural resources. Brush clearance and fuel modification are complementary strategies with the same goal. Don't let the terms confuse their intent: both accomplish their purpose by modifying native and ornamental vegetation to change fire behavior. By altering the arrangement and orientation of vegetation, including breaks in vertical and horizontal continuity, the possibility of catastrophic fire behavior can … (0 comments)

Fire Hazard Reduction - Fire Prevention Tips - www.4Malibu.com - 07/13/10 03:06 PM
 
 
 
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Structure First
Embers from wildland fires can enter your house through many different routs, but exterior vegetation is not the only fuel providing those embers. Wildland fires can also be spread from structure to structure or from a structure to wildland vegetation. The most important place to begin preparing defensible space is with your home. Fortifying or retrofitting your home can be your best defense against ember intrusion.
 
Fire Prevention Tips
Use ignition-resistant construction materials. Retrofit … (0 comments)

VACATION RENTAL - 4B/4.5B - Ocean View - Recently Renovated - Pacific Palisades - www.4Malibu.com - 07/12/10 09:03 PM
 
VACATION RENTAL
555 Radcliff Ave., Pacific Palisades, CA
Available August 1 - 15th, 2010
$12,500/week
4B/4.5B
Click here for additional photos/info.

Accommodations: House, 4 Bedrooms + Sleeping Porch, 5 Baths (Sleeps 8-10)This house is truly beautiful. Situated on a lush acre of land nestled into an oak grove, one has the feeling of being in a tree house. A unique indoor/outdoor environment with high wood beamed ceilings. Glorious views of the ocean and spectacular sunsets make this a fantastic experience for a family or sanctuary for tranquility and romance.This is a most unique property. It was designed by a … (0 comments)

For SALE - Malibu Canyon Village - 2B/2B - Units available - from $394,000 - $450,000 - www.4Malibu.com - 07/12/10 07:15 PM

 
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Malibu Canyon Village - 23901 Civic Center Way, Malibu, CA 90265
3 Units Available for Sale
 



 
 
Unit #C129
2B/2B
$429,000
$2750/mth for lease
This recently renovated and upgraded back row unit is located in a guard gated, centrally located community that is within walking distance to the beach. The complex features a pool, tennis court and clubhouse. The kitchen has granite countertops and all newer appliances. The dining area looks out onto … (0 comments)

For LEASE - Ocean View Ranch w/Lighted Tennis Court - Big Rock - $7800 - www.4MalibuRentals.com - 07/12/10 06:18 PM

 
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Ocean View Ranch w/Lighted Tennis Court
BIG ROCK - 20754 Cool Oak Way, Malibu, CA 90265
2B/2.5B
Click here for additional photos.
Pride of ownership exudes throughout this custom, ocean view sprawling ranch, located apx. 1.5 miles up Big Rock. This private and serene setting allows for a relaxing retreatand is an entertainer's haven. Several outdoor open patio areas create a smooth transitional indoor/outdoor feel. Customized kitchen with granite counter tops and newer appliances and wine cooler. Wood … (0 comments)

For Sale - APPROVED SHORT SALE - Malibu Canyon Village - 2B/2B - $394,000 - www.4Malibu.com - 07/10/10 08:15 PM

 
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Malibu Canyon Village - 23901 Civic Center Way #D240, Malibu, CA 90265
Approved Short Sale - $394,000
2B/2B
Ocean Views
Centrally located
Walk to the beach
Community pool, tennis court & clubhouse.

 
Bobby Lehmkuhl ׀ Bobby@4Malibu.com ׀ 310.365.7696 ׀ Broker Lic. #01457517
Danielle Dutcher ׀ Danielle@4Malibu.com ׀ 310.773.7556 ׀ Broker Lic. #01463653
 
Material discussed is meant for general illustration and/or informational purposes only and it is not to be construed as tax, legal, or investment … (3 comments)

IRS Audits Block 10% of First-Time Homebuyer Credits - www.4Malibu.com - 07/02/10 08:46 PM
 
 
 
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IRS Audits Block 10% of First-Time Homebuyer Credits
The Internal Revenue Service blocked almost 10 percent of U.S. claims for the first-time homebuyer tax credit after receiving erroneous or fraudulent filings, according to a report today.
About $1.22 billion of the $12.6 billion in tax credits claimed through February were denied or frozen after audits, the report from the Treasury Department's Inspector General for Tax Administration said. The IRS estimated that about 1.8 million taxpayers sought the … (1 comments)

Home buyer credit extension heads to Obama - www.4Malibu.com - 07/02/10 08:30 PM
 
 
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Home buyer credit extension heads to ObamaCongress passed a bill this week extending the deadline to close escrow and qualify for the federal home buyers tax credit.  President Obama is expected to sign the bill extending the deadline to Sept. 30, 2010, instead of its original June 30 deadline.  The bill extends the deadline to close escrow for home buyers who entered into a home purchase contract by the April 30 deadline.  First-time buyers may be eligible to receive … (0 comments)

Fannie Mae Mortgage Portfolio Passes $800bn in May, Cleared to Fund More ‘Dead Assets’ - www.4Malibu.com - 07/01/10 01:58 PM
 
 
 
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Fannie Mae Mortgage Portfolio Passes $800bn in May, Cleared to Fund More ‘Dead Assets'
The Fannie Mae mortgage portfolio passed $813bn in May, climbing $24bn from April, according to its monthly summary.
In his market report, Jim Vogel of FTN Financial is increasing expectations of how much debt Fannie will issue to fund more "dead assets." Fannie could issue more debt paid back to investors at scheduled times and at the investors discretion, also known callable debt. The … (0 comments)

House OKs Extension of Tax Credit Deadline - www.4Malibu.com - 07/01/10 01:44 PM
 
 
 
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House OKs Extension of Tax Credit Deadline
The House voted 409 to 5 in favor of extending the tax homebuyers credit for closing mortgages.
The Senate can approve the measure in the next 24 hours, and with Presidential ratification, it's possible that no contracts fall through the cracks with the current deadline of June 30 looming.
As it stands, homes currently under offer will be provided three more months to close in order to be eligible to … (0 comments)

Foreclosure Sales Shrinking into Q110, Still Much Higher than Boom Years - www.4Malibu.com - 07/01/10 01:38 PM
 
 
 
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Foreclosure Sales Shrinking into Q110, Still Much Higher than Boom Years
More than 232,000 properties in some stage of foreclosure were sold during Q110, taking up 31% of all residential sales, according to RealtyTrac, an online foreclosure marketplace. But that total is dropping.
RealtyTrac included properties either in default, scheduled for auction or in REO status as part of the total. These transactions have dropped 33% from their peak in 2009 when they took 37% of all … (3 comments)

 

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