weho: Make any house brighter and street-noise disappear too
- 08/21/08 12:58 PM
A few years ago I was showing a condo to a buyer (an older gentleman) who seemed to like the place. He asked how much it was listed for and I replied $315,000. The buyer scratched his head and mumbled that for $350,000 he wasn't interested ... besides, the place was too dark. I realized he hadn't heard me correctly and repeated that the price was only $315,000 and not $350,000. Suddenly his attitude changed, and he took another careful look. He bought the condo. Apparently at the lower price the condo looked a lot lighter and brighter. Similarly when I showed a $740,00 house to … (10 comments)
weho: Managing a Condo Homeowners Association - A Humorous Approach
- 08/12/08 04:03 AM
For anyone that has ever served as a Director on the Board of a Homeowowners Association you will know that managing the affairs of an HOA is not an easy task. Each Director has their own ideas and personal way of approaching matters and often different Directors have their own Agenda for what needs to happen. Individual personalities and experiences don't always make for an easy mix and often there are conflicts in management styles. While searching the internet I came across this "Management Flowchart" which adds a humurous approach and even in its joking way, does make a few good points … (8 comments)
weho: Your FICO Score - Now more important than ever
- 08/07/08 05:55 AM
As the Credit Crisis continues, banks have significantly tightened their lending criteria. It makes perfectly good business sense for Lenders to accurately and thoroughly check the credit-worthiness of prospective borrowers (finally) - but it now seems like there is over-kill. Today I heard of a prospective buyer with respectable credit, verifiable income and a reasonable down-payment who was turned down for a mortgage because his FICO score was 2 points lower than the bank's official acceptable threshold. We're supposedly dealing with commerical enterprises that makes business decisions on merit - not some automated bureacratic machine - or are we? Consumers can purchase their own Credit Reports and … (8 comments)
weho: Why "Bank's Losses" & the "Mortgage Crisis" will not end anytime soon
- 08/04/08 05:40 AM
This past weekend I wrote a Blog about "Bank owned properties - Trying to get an offer considered". Several comments from other Realtors confirmed the frustrations I was experiencing in trying to close a deal on a bank owned property. So I decided to determine exactly why the Listing Agent for this particular bank owned property is so slow to respond to me as a Buyer's Agents, if at all. I ran a search on The CLAW MLS to see how many listings the particular agent I was trying to deal with had as "Active" Listings. To my amazement she had 181 properties listed under her MLS account. Of … (24 comments)
weho: West Hollywood Condo Report - July 2008 - Market Update
- 08/01/08 04:59 AM
JULY 2008 CONDOS: () Previous Month Figures Median Price: $421,000 ($585,000) Average Selling Price: $508,928 ($657,400) Average List Price: $533,604 ($687,343) Therefore, Average Sales Price was 95.3% (95.6%) of List Price Lowest Price Condo Sold: $270,000 ($375,000) Highest Price Condo Sold: $905,000 ($1,150,000) Number of Listings Sold: 21 (30) MEDIAN SALES PRICES: July 2008: $421,000 June 2008: $585,000 May 2008 - $519,000 April 2008 - $516,500 March 2008 - $615,000 February 2008 - $618,250 January 2008 - $620,000 For further information, please contact: Stewart Penn - Realtor/Broker - " West Hollywood Condo Specialist" … (3 comments)
weho: Los Angeles rattled by 5.8 magnitude Earthquake
- 07/29/08 06:52 AM
West Hollywood - Tuesday 11: 50am Everything around me started swaying and the building was shaking. The was a rolling sensation, much like standing on deck of a ship in the middle of the ocean. The earthquake occurred 7.6 miles deep in the earth at 11:42am (PDT) and lasted for, what seemed like, about 20 seconds. Fortunately there appears to be no damage and noting fell over or fell of the walls. People are bracing for after-shocks. Stay tuned........... … (16 comments)
weho: A Double-shot of Espresso for Starbucks - Sorbetto and Vivanno.
- 07/29/08 06:13 AM
As has been widely publicized, Starbucks is undergoing some big changes. This is all part of Howard Schulz's strategy to make starbucks the "Wall Street" winner it was in the past. For starters Starbucks is closing a few hundred of their less profitable stores and will cut about 1000 jobs. Then they're reworking their breakfast menu so that the smell that upset their morning customers no longer inteferres with the coffee aroma in the stores. Today I received a card in the mail telling me about the new drink/smoothie available at Stabucks: it's called the "Sorbetto". Apparently it's "Icy", "Italian" and "Cool". I then checked their website and … (5 comments)
weho: "Flipping Out"'s Jeff Lewis must have flipped out now that he's in escrow
- 07/25/08 06:35 AM
Jeff Lewis on Flipping Out ..... Like one who reluctantly watches an accident, I occassionaly watch "Flipping Out" on Bravo TV. "Flipping Out" features a mean spirited, obsessive-compulsive house-flipper, Jeff Lewis. With a depressed real estate market prevailing, Jeff Lewis is now handling large remodelling projects for clients. He does however, still have a Los Angeles property that he and his business partner - Ryan Brown - purchased in March 2007 for $1,710,000, remodeled, and are now trying to sell. This property on Valley Oak Drive in Los Feliz was originally listed in April 2008 for $3,195,000. In May it was reduced to $2,995,000, was … (19 comments)
weho: Zillow's Zestimates - Dealing with Incorrect Comps
- 07/24/08 04:59 AM
As more and more Buyers and Sellers use the interenet to research their decision to buy or sell property, online sites are claiming to provide useable statistics for consumers. My gripe is with Zillow which provides Zestimates for properties. The "Zestimate" is "Zillow's estimated market value computed using a propretary formula". I have recently found that an increasing number of Zillow's estimates are way off the mark: I had one Seller show me the Zestimate for his property which was over 20% above the realistic market price for his home; and another property's Zestimate was 20% under the realistic market price of that house. So … (23 comments)
weho: Building a "Wind Farm" - a great source of power
- 07/22/08 03:04 AM
Do you know what a "Wind Farm" is? A wind farm is a group of wind turbines in the same location used for production of electric power. Individual turbines are interconnected with a medium voltage power collection system and communications network - Wikipedia I was interested to read that New York based Blackstone Group LP - said Tuesday it has partnered with German wind energy developer Windland Energieerzeugungs GmbH to build a wind farm off Germany's northern coast at a cost of more than $1.6 billion. As far as I'm concerned that a sensible and logical investment in the future. "The … (12 comments)
weho: Are you too fat? - CNN reports on the Top 10 Obese States.
- 07/18/08 05:28 PM
These are the 10 States with the highest levels of adult obesity, according to a 2007 survey by the Centers for Disease Control and Prevention. 1. Mississippi, 32.0 percent2. Alabama, 30.33. Tennessee, 30.14. Louisiana, 29.85. West Virginia, 29.56. Arkansas, 28.77. South Carolina, 28.48. Georgia, 28.29. Oklahoma, 28.110. Texas, 28.1 Source: Associated Press - CNN Online Fortunately, I live in California .......:) … (22 comments)
weho: Californians will vote on banning same-sex marriage - November 2008
- 07/17/08 03:09 AM
"The California Supreme Court has cleared the way for Californians to vote in November on whether to ban same-sex marriages in the state." " The court on Wednesday denied a petition to remove the initiative from the state's general election ballots. The unanimous decision was handed down without elaboration. On June 2, opponents of same-sex marriage filed for a ballot initiative that would ban such marriages in the state's constitution. Such a ban would overturn the court's May ruling (permitting same sex marriages)." - CNN Online Will Californians proceed with unlawful discrimination by banning gay-marriage in the State's Constitution? Isn't the Constitution … (8 comments)
weho: Insuring your Money - The FDIC and the SIPC
- 07/15/08 02:15 AM
With the failure of Indymac Bank we should all be reminded to check that our money is adequately insured. The FDIC (Federal Deposit Insurance Corporation) insures bank deposits of up to $100,000 and up to $250,000 for funds in retirement accounts such as an IRA. Brokerage products are not FDIC insured. The SIPC (Securities Investors Protection Corporation) protects investors where a brokerage firm goes out of business and if that firm is a member of the Securities Investor Protection Corporation (SIPC), then your cash and securities held by the brokerage firm may be protected up to $500,000, including a $100,000 limit for cash. SIPC covers most types … (7 comments)
weho: Banking regulators close IndyMac
- 07/11/08 12:40 PM
FDIC Information for IndyMac Bank, F.S.B., Pasadena, CA "On July 11, 2008, IndyMac Bank, F.S.B., Pasadena, CA was closed by the Office of Thrift Supervision (OTS) and the Federal Deposit Insurance Corporation (FDIC) was named Receiver. All non-brokered insured deposit accounts have been transferred to IndyMac Federal Bank, F.S.B., Pasadena, CA ("assuming institution") a new FDIC-insured Federal Mutual Savings Bank. No advance notice is given to the public when a financial institution is closed". Due to an irreversable run on the bank and a resulting liquidity crisis, Indymac's operation was transferred to the Federal Deposit Insurance Corporation because it did not … (11 comments)
weho: West Hollywood Condo Report - June 2008 - Market Update
- 07/11/08 11:30 AM
JUNE 2008 CONDOS: Median Price: $585,000 Average Selling Price: $657,400 Average List Price: $687,343 Therefore, Average Sales Price was 95.6% of List Price Lowest Price Condo Sold: $375,000 Highest Price Condo Sold: $1,150,000 Number of Listings Sold: 30 MEDIAN SALES PRICES: May 2008 - $519,000 April 2008 - $516,500 March 2008 - $615,000 February 2008 - $618,250 January 2008 - $620,000 For further information, please contact: Stewart Penn - Realtor/Broker - " West Hollywood Condo Specialist" … (0 comments)
weho: Avoid Panic Selling - Greed and Fear drive all markets
- 07/11/08 06:59 AM
Markets are driven by two human emotions: Greed and Fear. In the height of the Stock Market technology boom everyone who had access to a Brokerage Account was buying stock in companies they knew nothing about. Without worries, the stock prices increased and they made money without thinking ... until the tech bubble burst and hundreds of millions of dollars were wiped out. Similarly, in the boom days of our Real Estate Market, many people bought property expecting big capital gains each year. Greed made buyers committ to loans without considering the affordability. The notion was one could refinance at any time. With the … (3 comments)
weho: When is too many too much? - How many Listing do you have?
- 06/29/08 10:36 AM
How many listings is ideal for an agent to handle at any given time? I've seen agents list up to 15-20 properties at a time (sometimes even more). I understand and appreciate that a team can operate under the direction of a single "Master Agent", but since Real Estate is all about people, wouldn't a Seller want dedicated personal attention from the agent they select to market their property? I am amazed that Sellers entrust the sale of their property to an agent who works on so many properties at any one time. I've noticed that often these agents list the properties at … (21 comments)
weho: Happy 4th of July - It's vacation time
- 06/28/08 04:16 PM
Best wishes to my fellow ActiveRainers for a happy, healthy and relaxing 4th of July. I'm off to Jamaica (Montego Bay area) for some much needed rest and relaxation. It's been a difficult 6 months so far this year. With that in mind I plan to relax, eat some great food and drink wonderful cocktails, enjoy the sun, the beach, take in some water skiing and jet skiing, and return to work rested and energized for the second half of 2008. A big thank you to all those who have added to my experience on ActiveRain this far .... and I look forward to learning and sharing with many new friends. I'll … (10 comments)
weho: Pizzeria Mozza - The Best PIZZA in Los Angeles
- 06/27/08 10:51 AM
I absolutely love pizza - so I decided I needed to find the "Ultimate Pizza in Los Angeles". After eating at many, many pizzerias from Hollywood to Santa Monica, I am happy to report that I have finally found the most delicious, most flavorful, best crust, tastiest ingredients, and overall satisfying pizza available in Los Angeles: Mozza Pizzeria - 641 N Highland Ave, Los Angeles, CA 90038 (at the corner of Melrose) - Phone: (323) 297-0101 Celebrity chef Mario Batali, business partner Joe Bastianich, and Nancy Silverton of La Brea Bakery have created the very finest Pizza in Los Angeles. But this is no ordinary pizza - rather an unusual culinary delight. Their … (24 comments)
weho: Looking for Cheap Gas? .... You must read this
- 06/23/08 09:17 AM
Take a look at this new "Widget" I discovered online. You can load it onto your website and it's a great resource for everyone to use.Take a look at this new "Widget" I discovered online. You can load it onto your website and it's a great resource for everyone to use. Change the variables such as ZIP, gas grade, readius and sort. I've tested it for my local area and it works. Try it yourself - it's pretty cool. … (13 comments)
A few years ago I was showing a condo to a buyer (an older gentleman) who seemed to like the place. He asked how much it was listed for and I replied $315,000.
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