REMARKS: Fabulous newer construction in the Huntington Palisades. 2-story traditional 5,817 square feet on a 10,105 square foot lot. The house consists of 5 bedrooms plus a maid's room, and 6.5 bathrooms plus a powder room. Fabulous master bedroom and bath, large formal dining room, separate media room, study, private backyard w/ pool & spa. Great floor plan & curb appeal. See private remarks for exclusions
SHOWING REMARKS:
SHOWING: 24-hr Notice,Appointment w/List. Office,Call LA 2
REMARKS: New superbly designed and finished Tuscan style in tropical setting. Fabulous finishes include Venetian plaster walls, rich hardwood floors, stone surfaces & 4 fireplaces. The romantic master has fireplace,balcony, and steam & rain shower. Wine cellar and tasting room are adjacent to entertainment area w/home theater & bar. Grand entrance, high ceilings, chef's kitchen w Viking appliances & solid wood cabinets. Fully wired, alarm, surround sound throughout. Co-listed.
REMARKS: Vintage 2-story Colonial home located above Sunset Blvd in Pacific Palisades. First time on the market since being built in 1950, and has remained in the same family. Very private corner lot with almost a half an acre of park-like grounds and partial ocean views. Home has large formal entertaining areas, a great den, and a large open family room. Tiered backyard with pool and 2-car garage lots of additional parking. Sold "as-is" with no warranties. Must see for anyone who loves Colonial homes
SHOWING REMARKS:
SHOWING: Appointment w/List. Office,Call LA 1,Call LA 2,Listing Agent Accompanies
DIRECTIONS: From PCH: Exit Temescal Cyn; make left on Sunset; arrive at 16123 Sunset Blvd From 405: Exit Sunset and arrive at 16123 Sunset Blvd
REMARKS: This amazing Garden Home in the Exclusive Neighborhood of Pacific Palisades. Close proximity to Upscale Shopping, Restaurants, Hiking Trails & World Famous Beaches. Luxurious and Spacious 3 Bed (2 Master Bedrooms & 1 guest) + 3 Bath is Approx. 2000 sq. ft. w/Natural Stone Floors, Granite Counter Tops, Solid Core Doors, 4 Double Pane Glass Sliding Doors with access to Garden Patios, State of the Art Stainless Steel Appliances, Stunning Fireplace, 3 Walk-In Closets & more! Gated community with Sec
SHOWING REMARKS:
SHOWING: Other,Agent or Owner to be Present,Call First
LOCKBOX TYPE: No Key Safe LOCKBOX LOCATION: No Key Safe
Westside Properties is a full-service real estate boutique brokerage based in Pacific Palisades serving the entire Westside of Los Angeles. We proudly represent the finest properties throughout the Westside. We work as a team and combine our extensive real estate experience, powerful resources and connections to benefit you whether you are looking you buy or sell a home in today's exciting and lucrative real estate market.
Call us now to get started on the road to buying or selling your next home.
To preview the finest real estate and the best deals on the Westside of Los Angeles including Pacific Palisades, Santa Monica, Malibu, Brentwood, Bel Air, Beverly Hills, West L.A., Marina Del Rey & Mar Vista please visit our website: http://www.westsidehomefinder.com/ When you are ready to view the properties or just have a question, please contact us: 310.459.8191 or info@wsprops.com
To preview the finest real estate and the best deals on the Westside of Los Angeles including Pacific Palisades, Santa Monica, Malibu, Brentwood, Bel Air, Beverly Hills, West L.A., Marina Del Rey & Mar Vista please visit our website: http://www.westsidehomefinder.com/ When you are ready to view the properties or just have a question, please contact us: 310.459.8191 or info@wsprops.com
RECENTLY REMODELED BY FAMED NEW YORK DECORATOR JOANNE DE PALMA. LOCATED IN AN EXCLUSIVE GATED COMMUNITY THIS PARKLIKE ESTATE TRANSPORTS YOU INTO A WORLD OF SECRET SECLUSION. DRAMATIC FLOOR PLAN WITH SOARING CEILING HEIGHTS & ENORMOUS ROOMS. MASTER SUITE WAS CREATED AS A PRIVATE REFUGE WITH A SITTING AREA AND A SUMPTUOUS BATH SUITE, WALK-IN CLOSET, EXPANSIVE TERRACE & INTIMATE VERANDA OVERLOOKING THE LUSH LANDSCAPE BEYOND. THE POOL ENTERTAINING AREA IS ENHANCED BY A VIKING BBQ, REFRIGERATOR, ICE MAKER, & A TRELLISED DINING AREA OFF THE CABANA & CHANGING ROOM. TRULY A MUST SEE!! CALL NOW 310.459.8191 Click Here for more details & pictures
Interior Features:
Central Air, Family Room, Walk-In Closet, Den/Office, Laundry Room, Appliances, Fireplace, Main Floor Bathroom, Dining Room, Hardwood Floors, Pantry,Maid's quarters, Main Floor Bedroom.
Westside Properties is a full-service real estate boutique brokerage based in Pacific Palisades serving the entire Westside of Los Angeles. We proudly represent the finest properties throughout the Westside. We work as a team and combine our extensive real estate experience, powerful resources and connections to benefit you whether you are looking you buy or sell a home in today's exciting and lucrative real estate market.
Call us now to get started on the road to buying or selling your next home.
To preview the finest real estate and the best deals on the Westside of Los Angeles including Pacific Palisades, Santa Monica, Malibu, Brentwood, Bel Air, Beverly Hills, West L.A., Marina Del Rey & Mar Vista please visit our website: http://www.westsidehomefinder.com/ When you are ready to view the properties or just have a question, please contact us: 310.459.8191 or info@wsprops.com
To preview the finest real estate and the best deals on the Westside of Los Angeles including Pacific Palisades, Santa Monica, Malibu, Brentwood, Bel Air, Beverly Hills, West L.A., Marina Del Rey & Mar Vista please visit our website: http://www.westsidehomefinder.com/ When you are ready to view the properties or just have a question, please contact us: 310.459.8191 or info@wsprops.com
Before you start looking for a home, get pre-qualified for a loan. Banks, credit unions and mortgage bankers make home loans; mortgage brokers process them. The lenders will take an application, process the loan documents, and see the loan through to the funding stage.
If you have marginal or bad credit, consult your lender. You may be able to qualify for a loan depending on how long ago and what reason(s) caused the bad credit. A lender should be able to advise you on whether your credit history will prevent you from qualifying for a home loan.
You will need a down payment. Down payment requirements vary depending on the type of loan. Many down payment assistance programs exist. These programs may loan or grant you the funds necessary for the down payment. Consult with a lender about programs available in your area.
You will need funds for closing costs Closing costs are charges for services related to the closing of your real estate transaction. They include, but are not limited to:
Escrow fees charged by the company handling the transaction
Title policy issuance fees charged by the title insurance company
Mortgage insurance fees
Fire and homeowners insurance
County Recorder fees for recording your deed
Loan origination fees
Consult your lender for an actual estimate of these costs, as well as information about loan programs which can assist in financing your closing costs
Some loans have "points" and some do not. A point is a loan origination fee equivalent to 1% of the loan amount. Together with the interest rate they constitute the yield on your loan for the lender. Some lenders charge a higher interest rate to compensate for charging no points. It is important to comparison shop lenders to make sure your loan is at a competitive yield.
Should you select a mortgage with a fixed rate or an adjustable rate? The answer to this question depends on whether mortgage rates are at a high or a low point when you purchase, and on how long you plan to live in the home. If rates are high, an adjustable rate might be attractive since subsequent rate drops could reduce your monthly payments. Additionally, lenders may offer a low rate during the first few years of an adjustable mortgage to make it appealing to you. If interest rates are low you might want to take a fixed rate to protect yourself against the possibility of rising interest rates.
Be aware of the two main types of loan categories.
Conventional Loans. Conventional mortgage loans are available with fixed or adjustable interest rates. Some loans may require mortgage insurance.
Government Loans. These include Federal Housing Administration (FHA) fixed and adjustable rate mortgage loans, and Veterans Administration (VA) fixed rate mortgage loan
If you are a low or moderate income homebuyer, there are special programs designed to help you. These loans are available through private lenders, as well as local and state housing agencies, like the California Housing Finance Agency (CalHFA). Most lenders specializing in real estate mortgage loans are aware of these types of loan programs.
Why might I have to pay mortgage insurance? Mortgage insurance protects the lender from potential loss if you should default on your mortgage loan payment. Generally, conventional loans that require larger down payments do not require mortgage insurance. Mortgage insurance is always required on FHA mortgage loans.
Many organizations offer home loan counseling to prospective homebuyers. These organizations provide classes for homebuyers to cover the steps to homeownership. They will cover home selection, realtor services, lenders, loan programs, homeownership responsibilities, saving for a down payment, and other important pieces of information. Many first-time homebuyer programs require homebuyers to attend this type of class to be eligible for selected programs.
Homebuyers interested in applying for financing should contact one of CalHFA's approved lenders.
CalHFA does not lend money directly to consumers. CalHFA works through and uses approved private lenders to qualify consumers and to make all mortgage loans. CalHFA purchases closed loans that meet CalHFA's requirements. The fees consumers pay could be different depending on the lender and the program
To preview the finest real estate and the best deals on the Westside of Los Angeles including Pacific Palisades, Santa Monica, Malibu, Brentwood, Bel Air, Beverly Hills, West L.A., Marina Del Rey & Mar Vista please visit our website: http://www.westsidehomefinder.com/ When you are ready to view the properties or just have a question, please contact us: 310.459.8191 or info@wsprops.com CA DRE# 01522086
To preview the finest real estate and the best deals on the Westside of Los Angeles including Pacific Palisades, Santa Monica, Malibu, Brentwood, Bel Air, Beverly Hills, West L.A., Marina Del Rey & Mar Vista please visit our website: http://www.westsidehomefinder.com/ When you are ready to view the properties or just have a question, please contact us: 310.459.8191 or info@wsprops.com
Many of us, mortgage originators and Realtors are experiencing the negative impact of new appraisal rules. The Home Valuation Code of Conduct, or HVCC, forced on the industry by State Attorney General Andrew M. Cuomo, are slowing down sales and mortgage process.
The change came as a result of the mortgage and housing crisis. Many decision makers blamed the crisis in part on inflated valuations. The new rules are preventing mortgage lenders and brokers from ordering an appraisal directly to avoid influencing or pressuring the appraiser to come up at the desired valuation.
Today most lenders are using independent, third-party appraisal management companies. These companies are middlemen, taking requests from lenders and farming them out at random to individual appraisers.
So now, under current rules, individual loan officers and mortgage brokers, who may benefit from the loan, are no longer allowed to choose, hire, pay, or even communicate with appraisers.
Real estate agents also cannot choose, retain or compensate appraisers, but they can talk to them and provide information or address problems.
I believe we need to demand from policy makers that they modify the new Home Valuation Code of Conduct taking into consideration feedback and recommendations from real estate and mortgage professionals, appraisers, and consumers.
In order to avoid ending up with a very few large national appraisal management firms, lenders should be required to limit the volume of appraisal orders to a single appraisal management firm to 20%.
Consumers need to have the opportunity to use the same appraisal report with different lenders. The current system makes it near impossible for the consumers to reuse the same report in the event the first lender who ordered the appraisal declined the loan or offered terms unacceptable to the borrower. Right now the consumer has to pay for a new report, or waste a lot of time waiting for the lender to "release" the appraisal report to another lender.
There are many other changes that are required to better protect and serve consumers. Right now I am suggesting you do what I did which is to sign an online Petition to Rescind HVCC has it stands today. Yes, we need change but we need the kind of change that will really benefit consumers instead of policy changes imposed by overreacting politicians.
Please click on the link below if you want real change.
To preview the finest real estate and the best deals on the Westside of Los Angeles including Pacific Palisades, Santa Monica, Malibu, Brentwood, Bel Air, Beverly Hills, West L.A., Marina Del Rey & Mar Vista please visit our website: http://www.westsidehomefinder.com/ When you are ready to view the properties or just have a question, please contact us: 310.459.8191 or info@wsprops.com
Happy Friday everyone! Here is today's hotsheet for Pacific Palisades. Please contact my office with any questions or showing requests. 310.459.8191 or showings@wsprops.com
To preview the finest real estate and the best deals on the Westside of Los Angeles including Pacific Palisades, Santa Monica, Malibu, Brentwood, Bel Air, Beverly Hills, West L.A., Marina Del Rey & Mar Vista please visit our website: http://www.westsidehomefinder.com/ When you are ready to view the properties or just have a question, please contact us: 310.459.8191 or info@wsprops.com
To preview the finest real estate and the best deals on the Westside of Los Angeles including Pacific Palisades, Santa Monica, Malibu, Brentwood, Bel Air, Beverly Hills, West L.A., Marina Del Rey & Mar Vista please visit our website: http://www.westsidehomefinder.com/ When you are ready to view the properties or just have a question, please contact us: 310.459.8191 or info@wsprops.com CA DRE# 01522086
To preview the finest real estate and the best deals on the Westside of Los Angeles including Pacific Palisades, Santa Monica, Malibu, Brentwood, Bel Air, Beverly Hills, West L.A., Marina Del Rey & Mar Vista please visit our website: http://www.westsidehomefinder.com/ When you are ready to view the properties or just have a question, please contact us: 310.459.8191 or info@wsprops.com
I found this article from the Los Angeles Times very interesting and wanted to share with you...
WASHINGTON -- New U.S. home sales posted a tepid 0.7 percent increase last month, missing Wall Street expectations and providing more evidence that the housing market recovery remains tentative.
The Commerce Department said Friday sales inched up to a seasonally adjusted annual rate of 429,000 from a downwardly revised 426,000 in July. Economists surveyed by Thomson Reuters had expected a pace of 440,000.
While it was the fifth straight increase and the strongest report in 11 months, sales were 4.3 percent lower than the same month last year. Sales have risen 30 percent from the bottom in January, but are off about 70 percent from the peak of four years ago.
The report was the second straight disappointing sign for the U.S. housing market, which is struggling to emerge from the most severe bust in generations. On Thursday, the National Association of Realtors said sales of previously occupied homes, which make up the bulk of the market, dipped 2.7 percent last month.
To preview the finest real estate and the best deals on the Westside of Los Angeles including Pacific Palisades, Santa Monica, Malibu, Brentwood, Bel Air, Beverly Hills, West L.A., Marina Del Rey & Mar Vista please visit our website: http://www.westsidehomefinder.com/ When you are ready to view the properties or just have a question, please contact us: 310.459.8191 or info@wsprops.com CA DRE# 01522086
To preview the finest real estate and the best deals on the Westside of Los Angeles including Pacific Palisades, Santa Monica, Malibu, Brentwood, Bel Air, Beverly Hills, West L.A., Marina Del Rey & Mar Vista please visit our website: http://www.westsidehomefinder.com/ When you are ready to view the properties or just have a question, please contact us: 310.459.8191 or info@wsprops.com
The Truth from the Trenches by Industry Insiders, Rob K. Blake & Terri Ewing
You will see reading their article that one has to wonder what trenches these two guys are from. Definitely not from the mortgage origination trenches...
Here is a reprint of the article followed then by the comment I sent just today..
Mortgage Lock Fraud Abounds
Mortgage originators tell you your mortgage lock is in force when it is NOT. Lying about your mortgage lock status is a common practice to increase loan revenue or cover loan officer mistakes.
Loan officers are always trying to make the most yield spread revenue on every mortgage. Telling you the mortgage lock is placed but then not actually locking the rate with the wholesale mortgage company allows them to "play the market" with your money.
Why do originators tell mortgage lock lies?
They tell lies simply to cover mistakes made at the time they quoted the rate. If they forgot to adjust the rate for low credit scores, higher loan-to-values, or to waive escrows, these mistakes become evident at the time of lock.
Loan officers also tell lock lies because of a false belief they can "call the market" and pick the day that makes them the most yield spread premium, they will risk your mortgage lock and lie to you about it.
What if they are wrong?
When they are wrong and the market moves against them, you get the higher rate and costs...paying for their mistake.
The most important thing you need to remember is the loan officer will NEVER pay when a stunt goes wrong. I wonder on what data or studies you are basing your opening statement on? What knowledge of the mortgage origination industry you have to state that "Mortgage originators tell you your mortgage lock is in force when it is NOT. Lying about your mortgage lock status is a common practice to increase loan revenue or cover loan officer mistakes."
THIS IS MY COMMENT SENT TODAY TO MORTGAGE INSIDER
I have been a mortgage loan originator since 1989 and I can tell you that the mortgage origination industry's practices are no better or worth than in any other industry.
You do not need to sensationalize your article in order to get your readers' attention. Your direct implication that lying to the consumers is 'common practice' is irresponsible and offensive.
For your information, what is common practice for most mortgage originators is to provide a copy of the rate lock confirmation to the consumer. The written confirmation will typically state the date, terms, and yes, even the yield spread premium.
You could have done a better job informing and educating your readers by suggesting to them they demand a copy of the lender's rate lock confirmation instead of relying on a verbal confirmation from the mortgage originator.
To preview the finest real estate and the best deals on the Westside of Los Angeles including Pacific Palisades, Santa Monica, Malibu, Brentwood, Bel Air, Beverly Hills, West L.A., Marina Del Rey & Mar Vista please visit our website: http://www.westsidehomefinder.com/ When you are ready to view the properties or just have a question, please contact us: 310.459.8191 or info@wsprops.com
Lenders usually issue a Loan Commitment labeled "approved with conditions." It means that the loan approval is subject to a list of conditions that must be satisfied or cleared in order to complete the transaction. It also means that ALL conditions must be satisfied or cleared before the loan will fund.
In order to get a "final" approval all conditions required by the loan underwriter will need to be addressed to the satisfaction of the lender. Until then you do not have a real approval.
Too often loan professionals will notify their clients that they have loan approval when in fact they only have a CONDITIONAL APPROVAL.
The approval is worth nothing if the borrower cannot satisfy the conditions required by the lender. The loan agent is left with an upset client who was first told the loan was approved to discover that the lender's conditions could not be met.
So the lesson to learn is that it is important to explain to the borrower at the time of the loan submission that a loan commitment is not exactly a loan approval until it is final.
Incidentally, the lender's commitment to fund the loan shall be null and void if the lender discovers material changes in the financial condition (yes lenders run last minute credit check) employment (last minute verbal employment verification), cash equity, occupancy (don't even try to lie about that...FBI anyone?), or any material situations prior to or at closing. Even a final loan approval is not a 100% sure thing until the loan is closed.
To preview the finest real estate and the best deals on the Westside of Los Angeles including Pacific Palisades, Santa Monica, Malibu, Brentwood, Bel Air, Beverly Hills, West L.A., Marina Del Rey & Mar Vista please visit our website: http://www.westsidehomefinder.com/ When you are ready to view the properties or just have a question, please contact us: 310.459.8191 or info@wsprops.com
Beautiful 2+2.5 like new town home at The Pointe. Living room with high ceilings, fireplace, opens to large private enclosed patio. Kitchen w/granite counters, custom cabs, built-ins & breakfast area. Large dining room. Listing courtesy of MLS C.L.A.W. Coldwell Banker Lydia Simon. Master suite w/balcony, spa tub, separate shower. Complex features pool, spa, tennis court, & gym.
Neighborhood: Malibu
Type: Condo/Townhouse for Sale
Floors: Two or More Stories
Parking/Garage: 2
Bedrooms: 2
Baths: 2
Half Baths: 1
Square Feet: 1,562
Year Built: 1994
School District: Malibu
HOA Dues: $475.00
Parking: Direct entrance
Security: Gated
Air conditioning: Central with central heat!
To preview the finest real estate and the best deals on the Westside of Los Angeles including Pacific Palisades, Santa Monica, Malibu, Brentwood, Bel Air, Beverly Hills, West L.A., Marina Del Rey & Mar Vista please visit our website: http://www.westsidehomefinder.com/ When you are ready to view the properties or just have a question, please contact us: 310.459.8191 or info@wsprops.com CA DRE# 01522086
To preview the finest real estate and the best deals on the Westside of Los Angeles including Pacific Palisades, Santa Monica, Malibu, Brentwood, Bel Air, Beverly Hills, West L.A., Marina Del Rey & Mar Vista please visit our website: http://www.westsidehomefinder.com/ When you are ready to view the properties or just have a question, please contact us: 310.459.8191 or info@wsprops.com
Because FNMA or Freddie Mac will not purchase mortgages secured by non-warrantable condominiums, it is near impossible, in this current market climate, to find a conventional lender willing to lend on non-warrantable condos. The only available options are from hard money lenders. That means high interest rate, very large down payment, and increased loan origination cost to the point that many borrowers will simply not go through the transaction.
My advice to real estate professionals is to steer your buyers away from making an offer on a non-warrantable condominiums until the GSEs and lenders relax their guidelines on such condos.
Non Warrantable Condos are not eligible to be sold to Fannie Mae or Freddie Mac because they DO NOT fit into one of the following three classes:
CLASS I
1. Developers control of the homeowners association has been turned over to the condo owners
2. Project is not subject to additional phasing or add-ons which have not yet been completed
3. All common elements and amenities must be fully installed, completed and in operation
4. 70% of all units in the entire development must have been sold and or legally obligated to close
5. 70% of all units in the entire development must have been sold to owner occupants
CLASS II
1. Recent or current condominium conversions (from apartments)
2. Homeowners association has been controlled by the unit owners (other than the developer) for less than two years
3. Project is not subject to phasing or add-ons which have not yet been completed
4. All common elements and amenities are fully installed, completed and in operation
5. 70% of the units in the entire development must have been sold and/or legally obligated to close
6. 70% of the units in the entire development must have been sold to owner occupants
7. No more than 15% of the current unit owners are more than one month delinquent in payment of homeowner's dues or assessments
CLASS III
1. Homeowners Association has been controlled by unit owners (other than developer) for at least one year
2. Project is not subject to phasing or add-ons
3. All common amenities are fully installed, completed, and in operation
4. 90% of the units have been sold (owner-occupancy of at least 60%)
To preview the finest real estate and the best deals on the Westside of Los Angeles including Pacific Palisades, Santa Monica, Malibu, Brentwood, Bel Air, Beverly Hills, West L.A., Marina Del Rey & Mar Vista please visit our website: http://www.westsidehomefinder.com/ When you are ready to view the properties or just have a question, please contact us: 310.459.8191 or info@wsprops.com
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.
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