los angeles housing department: Los Angeles Branded a Tough Market for Renters - GOOD FOR BUYERS! - 05/11/11 03:50 PM
Businessweek came out a list of the 25 Toughest Cities for Renters. By that, they mean the top 25 cities that have the lowest affordability for renters. These are cities where average rents are rising, real income is stagnating or, in some cases, falling and where the supply of affordable housing has declined thus forcing rental households to pay a greater share of income than ever before.
Right now, about 26% of rental households are severely burdened with rent payments. That means that more than a quarter of rental households are paying more than half their income on rent. Furthermore, more … (9 comments)
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los angeles housing department: ATTENTION LOS ANGELES FIRST TIME BUYERS: Wonderful Downtown Home is Eligible for Down Payment Assistance - 02/04/11 11:20 AM
The other day, I blogged about what young L.A. Millenniums wanted in their first home and presented some options for downtown lofts.
What Do Most 20-Something Buyers Want in Their First Home? - Definitely NOT Their Parent's Home!
Another option that is really great option for young, single, first timers that is a really popular type of housing here in L.A. is the conversion of an old house into separate units. When I was a young, single, 20-something living in Hollywood, I lived in one of these types of units. It was an old Victorian style home and it was divided … (6 comments)
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los angeles housing department: TOTALLY REHABBED WEST ATHENS HOME ELIGIBLE FOR DOWN PAYMENT ASSISTANCE - 01/29/11 05:10 PM
This wonderful 3bd/2b, West Athens home has nearly 1,200 sq. ft. of living space on a nearly 6,000 sq. ft. lot. This incredible home has been completely rehabbed and upgraded throughout the entire home. There is a completely brand new kitchen with new energy efficient appliances, granite counters, wood cabinets and tile floor.
This home also has new central air and heat, a tankless water heater, new windows, new doors, new flooring throughout, new electrical, new plumbing, new roof, new stucco, fresh interior paint and new landscaping.
The best part is that this home is also … (6 comments)
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los angeles housing department: ATTENTION LOS ANGELES COUNTY FIRST TIME BUYERS: Wonderful Properties Available for Down Payment Assistance - 11/25/10 12:41 PM
Right now, there are nearly 50 available properties in Los Angeles county that are eligible for as much as $75,000 (depending on the sales price) in down payment assistance (dpa). For example, this newly remodeled, West Athens, REO home is move-in ready for the right family. This home offers 4bd/2ba of more than 1,700 sq. ft. on a more than 5,000 sq. ft. lot.
With new flooring throughout and a new kitchen (appliances, cabinets, counters) as well as new interior/exterior paint, this home is not one of those run-down, dilapidated, REO dumps that you've been seeing. The best part, for approximately … (3 comments)
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los angeles housing department: ATTENTION LOS ANGELES COUNTY FIRST TIME BUYERS: Valley Home Eligible for More than $60,000 in Down Payment Assistance - 08/12/10 06:30 PM
Once known for its 1,100 acres of olive groves, Sylmar (which means "Sea of Trees") is nestled in the hills of the San Fernando valley at the base of the San Gabriel mountains.
Although Sylmar is only 20 miles from the Pacific Ocean and snow in the San Fernando Valley is extremely rare, the neighboring Angeles National Forest is capped with snow every winter.
Nestled among those hills is one of Sylmar's oldest neighborhoods, Olive View, where Polk Village lies, a 28 unit planned urban development (PUD).
Constructed in 2007, this community was built with high-end … (6 comments)
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los angeles housing department: ATTENTION LOS ANGELES COUNTY FIRST TIME BUYERS: Totally Rehabbed NSP Eligible Home Available for Up to $75,000 in Down Payment Assistance - 06/17/10 01:35 PM
Located in the Graham neighborhood of Los Angeles, this fully restored, energy efficient 5bd/3ba duplex is ideal for the large, extended family.
This lovely duplex features a 3bd/2ba home with an updated kitchen and bathrooms that have granite counters, new cabinets and new tile flooring.
There is also an additional 1bd/1ba "granny suite" that also has an updated kitchen and bathroom with granite counters, new cabinets and new tile flooring. Both units also have new energy efficient central air and heating units.
Walking distance from shopping, entertainment and public transit, the best part is that this home is eligible for up … (0 comments)
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los angeles housing department: ATTENTION LOS ANGELES COUNTY FIRST TIME BUYERS: LIPA Eligible Home Available for Up to $60,000 in Down Payment Assistance - 06/10/10 05:55 PM
In the quiet, residential area of Panorama City, this home is located in the family-friendly community of Tupper Tobias Village. Built in 2001, this fully detached PUD home offers 4bd/3ba has nearly 1,700 sq. ft. of living space and at $49 a month, has the lowest HOA in the area.
Don't worry about having to fix up this home after the close of escrow because this isn't another run-down and dilapidated dumpy REO like all the rest of the properties you've probably been seeing. With new interior paint, new carpet and new appliances and hardwood floors this home has been rehabbed and … (3 comments)
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los angeles housing department: ATTENTION LOS ANGELES COUNTY FIRST TIME BUYERS: Totally Rehabbed NSP Eligible Home Available for Up to $75,000 in Down Payment Assistance - 06/02/10 05:34 PM
A few months ago, I posted that the Los Angeles Housing Department (LAHD) was making some changes to their Neighborhood Stabilization Program (NSP) by utilizing their NSP funds to purchase and rehab foreclosed properties in NSP eligible areas.
ATTENTION LOS ANGELES COUNTY FIRST TIME BUYERS: Stop Getting Beat Out by the All-Cash Investor
It's taken nearly four months for this change to come to fruition but Restore Neighborhoods in Los Angeles (RNLA) has finally finished rehabbing the first of many properties that are now eligible for purchase from NSP eligible buyers.
No more competing with the all cash investor for … (7 comments)
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los angeles housing department: ATTENTION LOS ANGELES COUNTY FIRST TIME BUYERS: LAHD Receives New Funds for LIPA Buyers - 05/26/10 03:09 PM
Well the Los Angeles Housing Department (LAHD) has finally received additional funds for their Low Income Purchase Assistance (LIPA) program again. They had run out of money back in March and had temporarily suspended the program. The program has received nearly 4M in funds for this year and will assist homebuyers on a first come, first serve basis. In other words, the program is in effect for as long as the money lasts.
They have also made a few minor changes to the program but with the same great results. The LIPA program offers purchase assistance in the form of a deferred loan of up … (8 comments)
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los angeles housing department: ATTENTION LOS ANGELES COUNTY FIRST TIME BUYERS: Stop Getting Beat Out by the All-Cash Investor - 02/15/10 05:28 PM
Last summer, the Los Angeles Housing Department (LAHD) rolled out their Neighborhood Stabilization Program (NSP). This was a program that was specifically designed for low-medium income, first time buyers to utilize federal funds to purchase foreclosed properties in federally designated areas in LA county that have been hard hit by foreclosures.
Initially, I thought this program would go from 0-60 in no time with the high percentage of LA county first time buyers looking to purchase the incredibly priced foreclosures that were saturating LA county.
However, after spending the first few months trying to get several of my low-medium income, … (10 comments)
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los angeles housing department: ATTENTION LOS ANGELES COUNTY FIRST TIME BUYERS: Incredible Property Eligible for LIPA Down Payment Assistance - 09/06/09 11:42 AM
In the shadow of Placerita Canyon State Park and the Angeles National Forest and minutes from Stetson Ranch Equestrian Center, is an incredible home located at 12751 Bradley Ave. that is a great starter home for today's first time buyers.
This 3bd/2ba home with more than 1,200 sq. ft. of living space sits on a large lot of nearly 15,000 sq. ft., which is listed for $279,900 and is move-in ready.
Don't worry about having to fix up this home after the close of escrow because this isn't another run-down and dilapidated dumpy REO like all the rest of the … (13 comments)
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los angeles housing department: ATTENTION LOS ANGELES COUNTY FIRST TIME BUYERS: LAHD Offers New Down Payment Assistance Program - 08/19/09 06:23 PM
Well the Los Angeles Housing Department (LAHD) is at it again. LAHD is pleased to announce that the Low Income Purchase Assistance (LIPA) program has finally received funding and is effective August 18, 2009. The program has received $4,142,164 this year and will assist homebuyers on a first come, first serve basis. In other words, the program is in effect for as long as the money lasts.
The LIPA program offers purchase assistance in the form of a deferred loan of up to $75,000 to low income households for down payment, closing costs, and acquisition financing. Medium income households are still eligible for HERO & … (4 comments)
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los angeles housing department: DOWN PAYMENT ASSISTANCE ELIGIBLE FOR LOS ANGELES COUNTY REO'S - 08/01/09 12:15 AM
As part of HUD's new Neighborhood Stabilization Program (NSP), the Los Angeles Housing Department (LAHD) is offering down payment assistance to eligible homebuyers.
The NSP was developed to stabilize communities that have suffered from foreclosures and abandonment. NSP offers deferred payment second mortgages to homebuyers seeking to acquire a foreclosed or abandoned property. It also provides deferred payment loans to repair blighted properties after they have been purchased.
Program Requirements:
Eligible homebuyers must not presently have an ownership interest in any real property and they must occupy the property as their primary residence. Eligible homebuyers must … (7 comments)
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