buyers: Do you know the difference between Non-Recurring and Recurring Closing Costs?
- 11/16/11 12:43 PM
Do you know the difference between Non-Recurring and Recurring Closing Costs?
There are some buyers and sellers have no idea what Closing Costs are hence I figured I would share here.
Non-Recurring Closing Costs are: Recurring Closing Costs are:
Lender Origination Fees Prepaid Interest
Appraisal Prorated/Prepaid Property Taxes
Credit Report Fire/Hazard Insurance
Tax Service Up-Front Mortgage Insurance
Title Insurance Premium & Fees Prorated Home Owner Association Dues
Escrow Fees
Recording Fees
Realtor Commissions
Lenders have allowed agents and sellers to provide credit towards the buyers’ closing costs. There used to be a rule of thumb if a buyer put down … (18 comments)
|
buyers: Real Estate- Economic Market Update for the week of September 12, 2011
- 09/13/11 12:37 PM
Real Estate- Economic Market Update for the week of September 12, 2011
As you know not only do Realtors, but Fed Officials and Lawmakers would like to see a boost in the economic growth. The Challenge is “how to do it”.
The Fed Chairman Bernanke stated that the Fed will consider additional stimulus ant the next meeting on September 21st, 2011. What does that mean to the average buyer and seller of Real Estate?
In simple English the Fed Chairman gave no indication what if any action the Fed will take. That means they are divided and do not have … (4 comments)
|
buyers: Playa Vista Condominium Market Report for July 2010
- 08/03/10 02:26 PM
Playa Vista Condominium Market Report for July 2010
People like to say that the "dog days of summer" are here. Well it depends on how you interpret the information as well as what your outlook on the future is. I find it ironic most of the so called experts do not look at current data, now with that said I would like to give you the actual numbers for the month of July and you determine how we fared.
This month there were 43 active Condominiums listed for sale in Playa Vista. This just for the record an 8.8 per cent … (1 comments)
|
buyers: Marina Del Rey,CA. Condominium Market Report for October 2009
- 11/13/09 02:23 PM
I have been so consumed by three different transactions that I just did not have any time for the Market Report for Marina Del Rey for the month of October. Late as it may be, here it is. To make up for the lateness I have added the following for added value. Let me know what you think:
I find the numbers very telling. I would be interested in your comments and input.
-If you are a consumer who is considering buying or selling a home, investment real estate, vacation homes, or beach properties in Southern California, Los Angeles, Century City, Westwood, … (0 comments)
|
buyers: Marina Del Rey, CA Condominium Market Activity Report for September 2009
- 10/12/09 05:20 PM
Marina Del Rey, CA Condominium Market Activity Report for September 2009
September was a very busy month for many Realtors in the Marina. Every one I spoke to seemed to be going into or coming out of Escrow. I have noticed many times that it takes two attempts before something closes.
Looking at the Active Condominiums as of October 1st there has been a nine per cent drop in the inventory. Coming from 184 Active listing to 169 tells a lot, fewer choices in the next few months to pick from.
The Condominiums that are currently in Escrow consist of 23 … (9 comments)
|
buyers: Century City Market Report for September 2009
- 10/11/09 03:49 PM
Although my report is late again, it is still interesting. The Century City Condominium Market Report for September 2009 is amazing.
The Active Listings went up by a small margin from the previous month. Currently we had 313 Active Condominium listings as of October 1st 2009 vs. 309 from the month before.
The Condominiums that are in Escrow waiting to remove contingencies have increased as well from the previous month. The previous month there were 34 and in September there were 39 waiting to remove their contingencies. The properties that were pending in the previous month were at an all time … (0 comments)
|
buyers: Appraisals Delays and the Cause and Effect of these delays to all involved.
- 09/05/09 11:23 AM
Appraisals Delays and the Cause and Effect of these delays to all involved is just amazing.More often then I would like to know, Appraisals have been consistently reaching Lenders late. There have been a number of discussions about Appraisals by Realtors and Mortgage Brokers and the delays that this has caused in obtaining loans for the Buyers.
As the Real Estate market continues to move slower then we would like, Sellers, Buyers, Realtors and Mortgage Lenders all remain uncertain. We are looking at these trends and first thing we need to do is to adjust our way of doing business.
Gone … (6 comments)
|
buyers: Fantastic 3+ acre of parcel of land at 3460 Beverly Glen Blvd, Sherman Oaks, CA 91423
- 07/28/09 08:17 AM
Fantastic 3+ acre parcel of land at 3460 Beverly Glen Blvd, Sherman Oaks,CA. High up in the Sherman Oaks Hills with panoramic canyon, mountain and valley views. Breathtaking views of the San Fernando Valley. This lot boasts of three level pads and an upaved access road. Pads were cut in the late 1950's Great opportunity to build a magnificent private Estate. Possibly one could go through the process fo subdivison and potentially have three separate one acre private gated Estates.
Call or e-mail me for additional disclosures referrence, geological and topographical reports. If this does not meet your needs call … (0 comments)
|
buyers: Playa Vista,CA Midyear Market Report
- 07/05/09 10:45 AM
As we look at month over month we have seen life come into the Real Estate market. Now let us review and see what the true numbers are vs. the perception.
January February March April May June
Active: 51 55 60 58 50 42
Pending: 3 10 7 8 12 17
Accepting Backup: 2 4 5 7 13 11
Sold: 3 3 4 7 12 12
As I look at these numbers, I find it very interesting that the active inventory has dropped almost 20 percent from January to June. The Pending as … (0 comments)
|
buyers: Marina Del Rey Condominium Market Report May 2009
- 06/03/09 06:33 PM
As I indicated in my other Market Reports, I have noticed a large increase in Activity, from traffic at Open Houses to Offers being written. There seemed to be activity of the caliber, what we were used to as Realtors in previous years. I am referring to the 2001 to 2002 timeline. When buyers were looking for "good deals" and writing offers on properties that seem to be listed 15-20% below market.
The Active Condominium listings have dropped from the month before to 184 for the snapshot of May 31, 2009. The least expensive listing is a one bed room one … (0 comments)
|
buyers: Century City, CA Market Report for April, 2009
- 05/04/09 04:04 PM
Century City, CA Market Report for April, 2009
Here we are and the numbers are in for the month of April. Century City, CA has boasted of an improvement month after month in the sales activity, since the beginning of the year. So I am optimistic, but at the same time realistic about the current state of the real estate market, hence I am just as anxious as you to see how it turned out. I have been involved in multiple offer situations last month, so I have a good feeling where the numbers will be.
With this introduction, let's see … (2 comments)
|
buyers: Marina Del Rey Condominium Market Report for April 2009
- 05/03/09 07:01 PM
Marina Del Rey Condominium Market Report for April 2009
April has been a very interesting month. A challenging environment to say the least, the market has been changing almost daily. So I was just as curious as you to see how the numbers came out.
Every agent I have talked to felt that there has been more activity recently then before.
Now with this introduction let's see the actual numbers.
The inventory has again increased. There are currently 199 Active Condominium Listings in Marina Del Rey, CA Interestingly enough there were 17 properties that were accepting Back up Offers. This is … (0 comments)
|
buyers: Has anyone heard of Private National Mortgage Acceptance Company, LLC (PNMAC) also known as "Penny Mac"?
- 02/03/09 07:21 PM
Has anyone heard or seen this new Mortgage Company called Penny Mac? Well interestingly enough it was formed by the ex-Countrywide CEO Stanford L. Kurland. If you think that is interesting, it is even more interesting the company is based in Calabasas, CA. Countrywide's old headquarters was in Calabasas, CA as well. He left Countrywide in 2006, he knew what was about to occur, unlike the rest of the Financial Community.
Now he knows again, the former president and chief operating officer of Countrywide Financial Corp. is running a new mortgage company that acquired distressed mortgages from non other then Countrywide. He … (19 comments)
|
buyers: Marina Del Rey Market Report #6 Part II.
- 01/04/09 05:46 PM
As I mentioned in my previous Market Report (#5 Part I) we shall do an analysis of 2008 and how it fared with 2007. The numbers are in. So let us look at the statistics.
From January 01, 2008 to December 31 2008 we had 195 Condominiums that were sold.
The most expensive sale was $2,600,000 directly on the beach, not a penthouse a 3 bedroom 3 bathroom under 2000 sq ft Condominium. The least expensive sale was $280,000 for a studio with one bath approximately 450 sq ft of living space steps from the beach.
For the same period … (6 comments)
|
buyers: Finding a Superior Home Inspector, what should his/her qualification be?
- 12/08/08 08:22 AM
As I was reading the LA time Sunday Business Section/Real Estate Section. One question was raised in the Ask the Inspector section C (Dec 7th,'08) as to what are the qualification to find a Superior Home Inspector?
Overall the "answer man" gave a ‘poor' response. Not a "great answer". He went on to turn on Realtors, by saying that "good" inspectors are referred to by RE Agents as "deal killers" or "deal breakers" I find this ludicrous. There are many good reputable inspectors that will take offense to this.
I look at the inspectors' job is to identify the problems and report it. … (0 comments)
|
buyers: When is it a Great Time to buy a home?
- 12/05/08 12:53 PM
I have been talking to many prospective buyers in the past few months. There is a common question that keeps appearing: Is it a Great Time to buy a home? The hidden question is "when". The Answer is easy: Now is a Great Time to buy a home.
The way the current real estate market is, i.e.: large inventory, anxious sellers, low interest rates, motivated listing agents, it all leads back to the economy. Since sellers need to liquidate or move, to be able to make life changes, here is a great opportunity for a qualified buyer to take advantage of this … (3 comments)
|
buyers: When you say "Culver City" what comes to mind? "The heart of Screenland"
- 12/04/08 07:14 AM
When you say "Culver City" what comes to mind? Some people connect it with the home of Sony Pictures, the Studio. Culver City calls itself "The heart of Screenland" with good reason.
How did this happen? Well, we can thank this to the Ballona Creek, Thomas Ince and Harry Culver. Harry Culver saw Thomas Ince shooting one of his famous western movies "on location" on Ballona Creek. Culver convinced Ince to move his Studio to Culver City. The rest is history. Culver Studios calls Culver City home. This Studio is known for one of the most famous epic movies that were … (0 comments)
|
buyers: What qualities do you look for in a Real Estate Agent?
- 10/26/08 12:33 PM
If I was in the Market to a buy Real Estate Today, I would look for the following:
•1. How responsive is this agent in the initial Contact?
•2. How quick is the response via e-mail or telephone
•3. How is the agent's Geographic knowledge of the area?
•4. Does he/she have the Market knowledge, i.e.: number of listings on the market, number of homes pending, number of homes sold in the past three months.
•5. Does he/she seem comfortable, relaxed, and confident and has a pleasant demeanor?
•6. What is the real estate agent's philosophy toward the market conditions?
•7. … (12 comments)
|
Do you know the difference between Non-Recurring and Recurring Closing Costs?
;)
;)
;)
