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INFINITE TITLE FAQ - For Consumers - 05/31/10 02:48 PM
If youu are buying property in Los Angeles and don't understand the ins and outs of Title Insurance, here is a wonderfully simple explanation. Via Jeremy Cohen - Infinite Title (Infinite Title Solutions): What is meant by "Title?""Title" is the foundation of ownership property. It means that you have a legal right to possess that property and to use it within the restrictions imposed by authorities or limitations on its use-superimposed on the basic right to possession by previous owners. What is Title Insurance?The legal answer is "the application of insurance principles to hazards inherent in real estate titles." Do I need Title (5 comments)
If you are looking for good home-cooked food in Westwood, Los Angeles California Fresh is the place. Eat in or take out, the food is fresh, wholesome with reasonable prices. They also bake their own French bread and pita which is delicious. Below is their regular menu:
California Fresh also caters. Menu below:
California Fresh2000 Westwood Blvd. Los Angeles, CA 90025 Phone: 310-234-0333 (18 comments)
Are you a buyer concerned with the slowness of your short sale purchase? - 05/29/10 06:11 PM
This is an explanation of the short sale buying process made simple. Via Susan Neal, Fair Oaks CA Real Estate Broker (Century 21 Noel David Realty): Are you a buyer concerned with the slowness of your short sale purchase?As a member of Short Sale Superstars, I see many buyers writing questions to the members regarding their own transactions that are not going as well as they had hoped, and wondering if their own agents are doing as much as they can do. All of us who are members try to address their responses directly to help them cope with their short sale purchases (13 comments)
Yes, the famous house at 3465 Tilden Ave. Westside Village Palms has sold. The house went through several offers which failed to come to fruition through no fault of its own, and how has finally found its true owner. The seller is extremely happy even after the disappointments of not-so-serious buyers and the new owner, a first-time home buyer is also very happy. Typical for the first-time homebuyer, the new owner was overly concerned about minor matters and his agent had to nurture him thoughout the process, as did I, the listing agent. When we were (23 comments)
Looking for a Good WordPress Designer? - 05/28/10 04:02 PM
If you are looking for a good Wordpress designer, or just someone to help you tweak your existing site, then I have someone. Pink Press Studio 310-598-7878 Ann-France (Annie) is hard-working and truly passionate about what she does. She will help you decide on the best look and ease of use for your prospective customers. And most of all, she is reasonable. She is still working on my site, but take a look at my "New Look". UPDATE: I take this back. Unfortunately, I found that the work done by the designer was incorrect and now am having someone (30 comments)
Out of the 40 areas listed 26 have increased, 14 of them in the double digits. Malibu is up 41%, Hollywood Hills East 25%, Beverlywood 17%, and West Los Angeles 16% over last year. Of the 14 that have dropped in price Beverly Hills Post Office tops the list with a 56% drop. Cheviot Hills dropped 32%, Santa Monica 14%, with Brentwood and Beverly Hills 2%, If you are buying a home in (12 comments)
California is way too large to talk about the market as a whole. Los Angeles County is a market in itself. In my immediate market area, the cities of Los Angeles, Santa Monica, Culver City, and Beverly Hills, things are rather slow due to lack of new inventory. Overpriced homes are still sitting and the ones that aren't are being snapped up. Los Angeles County single family market is pretty stable. According to data provided by REALTX Real Time Public Records, 4,355 homes were sold in April 2009 and 4,356 in (0 comments)
ATTENTION LOS ANGELES COUNTY FIRST TIME BUYERS: LAHD Receives New Funds for LIPA Buyers - 05/26/10 04:54 PM
Great information for first time home buyers in Los Angeles who think they may not be able to afford that new home. Via Donne Knudsen (Cobalt Financial Corp.): 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 (2 comments)
Interesting New Search Engine - 05/24/10 05:15 PM
Check out this new search engine. It certainly has some possibilities for us: WolframAlpha.com (18 comments)
Negotiating the Sale of a Home Should Be a Win-Win Situation - 05/23/10 06:11 PM
I just finished an interesting article in today's Los Angeles Times about negotiating the sale or purchase of a home and it got me thinking. The process most typically starts as a battle. The Seller generally wants to overprice the home because they "know" that the buyers are lining up to see how low they can go and how much they can get on top of that. The Buyer is looking at every home as grossly overpriced and every Seller as desperate, so they are not going to spend one penny more of their hard-earned money than they need (34 comments)
Amazing Artist Opens First Solo Exhibition in Manhattan - 05/22/10 07:04 PM
I am sorry I won't be there, but a friend, and one of my favorite artists, Gary Stutler, is opening his first solo exhibition in Manhattan from May 26th - June 19th. The official reception is on June 3rd from 6:00 - 8:00 p.m. If you can make it I encourage you to drop by. To view more of Gary's work visit his website.
Paris Art Theft - What Were They Thinking? - 05/20/10 12:38 PM
5 Paintings, including works by Matisse and Picasso were stolen from the Paris Museum of Modern Art today. Apparently this was a lone thief, and how on earth did he get through the security? But most of all, what on earth is he going to do with those paintings? I couldn't help but laugh at this quote from the director of a nearby modern art museum, Pierre Cornette de Saint-Cyr: "You cannot do anything with these paintings. All countries in the world are aware, and no collector is stupid enough to buy a painting that, one, he can't show to other (16 comments)
California First Time Home Buyers Tax Credit Update - 05/19/10 09:43 PM
If you are buying a home in Los Angeles, or anywhere in California, or have already gone under contract after May 1, 2010, you are entitled to a $10,000 tax credit. The credit is available from a $100 million allocation which is projected to run out fairly quickly. If you are buying a home in Los Angeles or the rest of California, time is running out! If you have tried to file via fax you may have found you could not get through because the line is constantly busy. The fax line is open 24 hours so you (6 comments)
Honoring Carole Provenzale... a Mother a Friend a Mentor and so Much more...she was our Everything - 05/19/10 09:06 PM
There is nothing to add here but to say Carole continued blogging to the end and never gave away how sick she was. This was a shock! Via Carole Provenzale Owner, Feng Shui Long Island & New York (Feng Shui Long Island & New York City): Honoring Carole Provenzale... a Mother a Friend a Mentor and so Much more...she was our Everything Carole Provenzale Dear Friends of Carole Provenzale, My name is Laura Cerrano, Carole Provenzale's daughter, I had the pleasure of meeting some of you at RainCamp in New York City. I want to honor my mother by thanking her for EVERYTHING (9 comments)
Buying a Home in Los Angeles? Make Sure Escrow is Closed Before You Spend any More Money - 05/18/10 01:42 AM
If you are thinking of buying a home in Los Angeles, or anywhere for that matter, wait until you have closed escrow and are in your home before you apply for more credit. The lender may run a full credit screening before funding the loan and they could find that your debt has increased to a level where you will not be able to afford your monthly payments. Read more on Last Minute Credit Screenings (21 comments)
Calculating Absorption Rate Pricing - 05/16/10 02:30 PM
As usual, Debe has come up with a useful tool we can all use to calculate the correct pricing for our listings. Via Debe Maxwell, Realtor® - Charlotte NC MLS - Charlotte NC Neighborhoods (Helen Adams Realty): Calculating Absorption Rate Pricing Absorption rate pricing is a method used to calculate the value of your home based on the principles of supply and demand. Because appraisers are now required to use Absorption Rate Pricing to determine your home’s value, it is critical that you understand how the process works. There are only a certain number of homes that will sell in any market in any given (7 comments)
But I Thought That Came With The House! - 05/14/10 12:28 AM
This is an excellent overview of what Buyers should know when they write their Purchase Contracts and are confused about what will come with the house and what won't, and what they should specifically think of asking for, so that there are no surprises when they walk into the house after escrow has closed. Via Lisa Heindel, New Orleans West Bank Real Estate (Keller Williams Realty Crescent City West Bank Partners): There is nothing more disheartening to a home buyer or seller than to have a dispute arise right before closing about what is actually included in the sale of a house. Usually, (21 comments)
The statistics below reflecting the weekly Brentwood area of Los Angeles housing market, May 1-7, are taken from the MLS CLAW and are for single family homes only. They do not include condos, income property and private sales. This the first of a weekly series showing the Brentwood housing trend. Based on the last week of April, the number of homes sold was down by 1 and days on the market were up by 13. The average price was significantly higher, but this was based on the highest priced home being $11,000,000 in May as opposed to $1,850,000 at the (2 comments)
How Much Is Your Facebook Fanpage Worth? - 05/13/10 07:35 PM
This is a fun and useful tool for those of you trying to get a Facebook presence. My score is pathetic - $36 out of a possible $1,075. Via Lisa Udy Realtor Utah Real Estate Specialist (Logan Utah Real Estate The Platinum Real Estate Group): Have you ever wondered how to calculate how much your social media efforts are worth? Wouldn't it be nice if you had some sort of tool that could give you the answers? Well guess what? There is! A social media company called Vitrue has created a tool that can give you an idea of just how much your (9 comments)
Adopt an IRS Agent! You are Going to Need One When Purchasing a Property - 05/11/10 09:47 PM
In the continuing saga of my one listing, we were due to close on Thursday, but the Buyer stupidly decided to file his taxes on time, albeit at the last minute. What was he thinking! The underwriter cannot issue any loan docs until the IRS have processed the tax return. What! Yep, no sign off by the IRS, no loan docs. In this instance, the 2009 filing was not necessary because 2007 and 2008 returns were enough to get the buyer qualified, but because he filed his 2009 return that stopped the clock. If he had filed an extension it would (28 comments)
Buyers, Do Not Assume that Every Home You Approach is Overpriced! - 05/10/10 10:28 PM
It is in most people's nature to look for a deal. Having lived in the Middle East I am certainly used to offering ridiculous prices straight off the bat, walking away, and waiting for the vendor to come running after me. If you pay full price there, after walking away, the shop keeper will spend the next half hour rubbing his hands together in glee. It is not unheard of here now to try and get the price of something lowered, even in major stores, but there is no personal connection by the salesperson with the item being sold in stores. (138 comments)
The Echo Park Los Angeles Housing Market statistics below are taken from the MLS CLAW and are for single family home only. They do not include condos, income property or private sales. Surprisingly the figures for Echo Park home sales are not as strong as one would have thought given that April saw the end of the federal home buyers tax credit. The number of homes sold was flat and the median price was down and the days on the market were up quite significantly over the previous month. Also the months supply of inventory increased. May will be an (3 comments)
It is pretty much understood, that if in foreclosure or going through a short-sale, credit scores are going to take a hit. What has not been clearly understood ... is just how much of a hit is felt? Until recently, there had not been much of a barometer or "method" known for calculating or determining how these delinquencies would affect a FICO score. Fair Isaac has recently revealed a little bit of information as (4 comments)
The Culver City Market 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. April was a mixed month for Culver City home sales. The number of homes sold was up significantly but homes going into contract was down, strange considering that the federal home-buyers tax credit was ending at the end of the month. The median price was down as was the sales price received against the listed price. Days on the market was up and number of homes for sale down. The months (2 comments)
The Palms and Mar Vista housing report 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. Home sales in Palms and Mar Vista, show a rosy picture for April, probably partly due to the federal home buyers tax credit due to expire at the end of the month. Althought the number of homes sold was down slightly, the number of homes under contract was up by 23%. The median price was up and the median sales price vs listed price took an upward (3 comments)
The Santa Monica Housing Market statistics below are taken for the MLS CLAW and are for single family homes only. They do not include condos, income property, or private sales. April was a healthy month for Santa Monica home sales. Over March, the number of homes sold was up by 10, the median sold price was up by $415,000 and the median sold price vs the median list price difference was down by $622,000, i.e. the April sold price was much closer to asking price over March. Days on the market of homes sold was down by 12. Overall promising (4 comments)
The April statistics below reflecting Brentwood Los Angeles housing market are taken from the MLS and are for single family homes only. They do not include condos, income property, or private sales. April figures for Brentwood are down. The median price and number of homes sold are down $832,000 in March, $799,000 in April. The median sales price vs the listed price is also down 45%. Days on the market for homes sold is up by over a month, but the months supply of inventory is down by one month. There are 20% more homes under contract so May should (0 comments)
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