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Los Angeles, CA Real Estate News

By Endre Barath, Jr., Realtor - Los Angeles Home Sales 310.486.1002
(Berkshire Hathaway HomeServices California Properties)
Wordless Wednesdays: Citrus Tree pruning in the back yard... Diane decided to prune the trees. Needless to say, she has been coordinating with our Gardner to do this. Hence, I was stuck dealing with them.They showed up in the afternoon while I was in the middle of keeping one deal together and negotiating two other deal.Next thing I know is they are putting cut branches into the "trash" barrel after they filled the "Green Barrel."  after they left, I was trying to salvage many of the oranges. Clearly you know for future Orange Juice.... Needless to say, managed to save some but what you see here was probably 50% the rest were lost!    Wishing you a safe and healthy life and I look forward to your comments. If you are looking for a knowledgeable, focused and goal-oriented Realtor in the ...
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By Endre Barath, Jr., Realtor - Los Angeles Home Sales 310.486.1002
(Berkshire Hathaway HomeServices California Properties)
Diane and I have been going to the Festival of Books for the past 24+ years. If memory serves me correctly, we only missed the first two... Now with that said this year we did not get a new coffee mug. Usually, we get one every year commemorating our visit to the Festival of Books. This year was a total disappointment.The marketing was too vague and too discouraging. In the old days if you wanted to see an author you did not have to pay to enter. This year the message was mistakenly focused on, that you cannot get to see a panel or an author unless you pay for a ticket. Really??? False messaging. Sadly, many bought into this message including us.I told Diane it was just poor English and not clear messaging... we disagreed... on a side note I was right.So, with that said, let me tell you...
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By Endre Barath, Jr., Realtor - Los Angeles Home Sales 310.486.1002
(Berkshire Hathaway HomeServices California Properties)
Lemon, Avocado, Bucatini & Shrimp pasta dinner... this dinner was inspired, because Diane wanted a break from " Red Sauce so with that said I reached into my cookbooks and found this recipe in one of my favorite cookbooks: "Pasta Modern." Those of you who read my posts know I would end up modifying the recipe to make it my own.Well, I did the short recipe, lemon, lemon zest, shrimp, avocado and lemon juice.My additions, fresh parsley, clam juice, little bit of heavy cream and a lot more wine:). I also added little bit of heavy cream and substituted red onions with sweet onions as well as added some baby spinach,  Wishing you a safe and healthy life and I look forward to your comments. If you are looking for a knowledgeable, focused and goal-oriented Realtor in the Beverly Hills area who...
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By Endre Barath, Jr., Realtor - Los Angeles Home Sales 310.486.1002
(Berkshire Hathaway HomeServices California Properties)
Friday Funday: I thought how about a fun dinner.... I always cruise the Internet, and I saw someone post a recipe for baked cabbage. Loved the idea and it so happened I had cabbage in the fridge as well as I always have olive oil.Now I thought this would go well with bake Argentinian Red Shrimp.Then I figured how about some great Red Lobster Cheddar Bay Bisquists to accompany the dinner Wishing you a safe and healthy life and I look forward to your comments. If you are looking for a knowledgeable, focused and goal-oriented Realtor in the Beverly Hills area who will help you achieve your Real Estate goals, please reach out to me directly! If you are looking for a pet friendly Beverly Hills Realtor who can handle and sell the most difficult properties that no one else could, please reach ...
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By Paul Argueta
(REOheaven.com)
7896 Naylor Ave Los Angeles CA 90045 3 beds, 1.0 baths, 998 sq ft now pending!!! $474,900!!! http://tinyurl.com/yfqnomy
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By Paul Argueta
(REOheaven.com)
5244 Almont St Los Angeles CA 90032 2 beds, 1.0 baths, 688 sq ft just listed!! $117,800!! http://tinyurl.com/ycjvlwc
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By Dom Naidoo, Malibu to the Marina Real Estate
(Westside Properties)
This was an interesting video to watch because not only is the general contractor a woman but she was also working on her sister's bathroom. haha! Seriously though, one of my closest girlfriends is a general contractor who remodeled my office in Pacific Palisades. AMAZING WORK!!!! Please email me for her contact info. This video also educates homeowners who are parents as to how to make the bathroom safe for kids. Get the popcorn out because the video is around 20 minutes.
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By Lupe Soto-Realtor, Listing, Selling Burbank, San Fernando Valley LA
(Premier Realty Assoc)
Prediction: Homes Sales to Rise 11 Percent Sales of existing homes will rise 11 percent in 2010, and sales of new homes will climb 21 percent over this year, Mortgage Bankers Association Chief Economist Jay Brinkmann predicted in a speech Tuesday at the organization's annual meeting."We still see a concentration in the lower end of the market," Brinkmann said. "The entry level homes are in demand."Brinkmann also predicted further declines in existing home prices, with the median falling to $164,200 in the first quarter of 2010.David Stevens, commissioner of the Federal Housing Administration, concurred, adding that mortgage rates will rise to 5.6 percent by the end of 2010, though not enough of an increase to discourage a 12 percent increase in mortgage applications next year.Source: As...
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By Johnny Burke
(Keller Williams Realty)
Legislation Protects Consumers Purchasing Foreclosed Properties SACRAMENTO, Calif., Oct. 13 /PRNewswire/ -- The Escrow Institute of California announced today that Governor Schwarzenegger signed Assembly Bill 957 into law. This bill, authored by Assembly Member Cathleen Galgiani (D-Tracy), protects consumers by ensuring that they have the right to choose their own real estate service providers when purchasing foreclosed properties. AB 957, known as the Buyer's Choice Act, prohibits sellers of so-called REO properties - typically foreclosed properties owned by banks - from requiring the buyer to use a particular title company, escrow settlement or other real estate service provider. This unethical, anti-competitive practice drives up costs for homebuyers and takes business away from loca...
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By Lupe Soto-Realtor, Listing, Selling Burbank, San Fernando Valley LA
(Premier Realty Assoc)
BoA Struggles With Loan Modifications Bank of America could collect about $6 billion if it meets the deadline set by the federal government to help struggling borrowers for the Making Home Affordable program.But the Treasury Department released a report last week that showed that only 11 percent, about 95,000, of Bank of America's delinquent borrowers who are potentially eligible for the program have been given a loan modification. That puts Bank of America at the bottom of the list of major banks involved in the program."We're sure working hard," said Ken Scheller, senior vice president for home retention at Bank of America, when asked about his company's low success rate. "We don't want to be down there."There appear to be multiple problems, not the least of which is that many of the ...
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A minimum investment of 3.50%. This can include a combination of borrower paid down payment and closing costs, or gift funds. Most conventional loans today require 5% down or greater, not including closing costs. Some costs are excluded such as discount points, prepaid items, seller paid closing costs, etc. No minimum FICO requirement, making loans available to those who don't have high enough FICO scores for a conventional loan. More lenient qualifying ratios of 31% front-end (gross income /PITI) and 43% back-end (gross income / PITI + other monthly liabilities). The conventional loan qualifying ratios are 28% and 36%, respectively. FHA allows buyers to use a higher percentage of their income towards housing costs. People with bankruptcies may qualify. For Chapter 7, borrowers may be ...
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By Endre Barath, Jr., Realtor - Los Angeles Home Sales 310.486.1002
(Berkshire Hathaway HomeServices California Properties)
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 high since the Economic Meltdown. There were 56 pending and as the large number of Pending Condominiums indicated the numbers were still high for September, it was amazingly 48 properties.  Here a...
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By Dom Naidoo, Malibu to the Marina Real Estate
(Westside Properties)
I rarely post anything related to food or beverage recipes BUT I have to post this video. Makes me want a slice right now...yumm!!! Happy Sunday everyone. I hope that you all had a chance to enjoy the weekend with your loved ones. I was blessed today to not have to be in the field working.
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By Jane Peters, Los Angeles real estate concierge services
(Home Jane Realty)
The following charts refer to single family home activity in Los Angeles from September '08 thru September '09. The median home price has decreased by 12% over the year: The number of Los Angeles sold properties has increased by 12% - 410 units in September '09. The number of properties under contract has increased by 39% - 470 units in September.  Compared to September '08 less 7% less properties have completed escrow as in September '09.  This could be due to the increasing difficulty of getting a mortgage. The number of properties on the market has decreased 42%.  This is a sign that prices may start to rise due to the shortage of inventory. The number of new properties coming on the market each month has decreased by 33%.  Also an indication that prices could start to rise due to th...
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By Paul Argueta
(REOheaven.com)
1425 E 59th Pl Los Angeles CA 90001 3 beds, 3.0 baths, 1,674 sq ft now pending!! $125,900!! http://tinyurl.com/y9m67dm
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By Paul Argueta
(REOheaven.com)
8913 Towne Ave Los Angeles CA 90003 2 beds, 1.0 baths, 971 sq ft just reduced!! $176,000!!! http://tinyurl.com/p7xrls
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By Valerie Fitzgerald, Luxury Real Estate in Beverly Hills & West LA
(Coldwell Banker Residential Brokerage)
Falling real estate prices are becoming as much a feature of high-end neighborhoods as ocean views, infinity pools and four-car garages. While the latest data suggests prices for mainstream homes may be stabilizing after several years of pain, the news for luxury homes isn't looking as good. That's bad news for sellers, naturally, but anyone in the market for a home listed for $2 million or more will find deeply discounted asking prices—and may be able to command even lower prices. Last week, data from the Federal Housing Finance Agency showed that average home prices ticked up 0.3% nationwide between June and July, including a 1.6% bounce on the west coast. The gains are modest, and they are partly influenced by the season—higher-end homes tend to sell better in late spring and early s...
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By Paul Argueta
(REOheaven.com)
7896 Naylor Ave Los Angeles CA 90045 3 beds, 1.0 baths, 998 sq ft just listed! $474,900!! http://tinyurl.com/yfqnomy
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By COMPASS PALM SPRINGS | Stewart Penn, COMPASS Palm Springs - Broker Associate
(COMPASS)
I love chocolate and have a very "sweet tooth" - so on a recent trip to Charleston I had to visit Market Street Sweets, South Carolina's extension of Georgia's River Street Sweets. Market Street Sweets is situated in the old Market area of Charleston and ideally located to appeal to tourists and visitors. Their friendly staff offer samples of their wickedly tempting chocolates and fudge and after a quick taste, I was hooked! Their chocolates are really delicious, especially the Chocolate Bear Claws - mounds of luscious milk chocolate, creamy caramel and chopped nuts. Their Praline, rich with sugar, cream and giant pecan halves, are equally decadent and irresistible, and are especially good served warm. Fortunately they ship around the world, so even though I'm back in Los Angeles I'll s...
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The origins of the word mortgage come from the French words mort (death), and gage (a pledge). The word mortgage came into Middle English by way of Middle and Old French.  For a greater portion of the Middle English period French was the language of the ruling elite, many of which spoke little if any English. Taking out a mortgage did not mean that the mortgagee (borrower) expected to be killed if he did not pay back the mortgage; it merely meant that he would lose the mortgaged property if he fell behind on his payments.  It had to do with the doubtfulness of whether or not the mortgagor will pay the debt. If the mortgagor did not, then the land pledged to the mortgagee as security for the debt was taken from him, and so dead to him... The notion goes back to ancient Roman times. It re...
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By Dorene Slavitz, Experienced. Ethical. Outstanding Results!
(Residential & Commercial Real Estate)
Housing Index shows the pace of home prics declines slowed in July..a sign that the market is near bottom! The pace of price declines slowed in July for Los Angeles to -14% compared with the same month one year ago according the the S&P/Case -Shiller US National home price index. These figures support stabilization nationally for Real Estate Values. We still need to remain observant in the coming months to see if the expiration of the first time homebuyers tax credit will effect these figures. In Los Angeles including Orange County the 20 year index is now at 2003 levels, going back to just before home prices made their most dramatic gains in the housing "bubble" Making Sense of the News For first time homebuyers, this remains an ideal time to consider purchasing a home. Interest rates ...
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By Johnny Burke
(Keller Williams Realty)
NEW YORK (Reuters) "Short sales," or sales of homes for less than the balance on existing mortgages, are seen as a key way to supplement other efforts such as loan modifications to steady housing.   Unlike most modifications, "short sales" eliminate the problem of negative equity that has become a big reason for defaults as home prices have plunged. The incentives, first announced in May, would expand the government's Home Affordable Modification Program that has seen limited success in lowering payments for hundreds of thousands of homeowners deemed eligible. Just 12 percent of homeowners eligible have had their loans reworked, leaving millions more foreclosures to come, the Treasury said on September 9. More short sales may alleviate fears that a raft of "shadow supply," or foreclosur...
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By Annie Pinsker-Brown, Stage to Sell, Los Angeles Home Stager
(Stage to Sell - LA Home Staging)
If you follow my AR blog, you'll know that I've done several "staging" jobs for American Communities, a developer of low income housing in Los Angeles. If you read my posts about Staging 1,  Staging 2 and Staging 3, you will remember that our goal was to make the common spaces in these buildings warm and inviting, as well as functional for the residents to relax, watch TV, attend meetings & classes and use a computer. We recently completed Staging #4 for American Communities. Like the previous building, this one was designed in a contemporary Art Deco style, so we chose furnishings and art that fit with this theme. But at Stage to Sell, we always have to try something new! So this time we added a graphic element to the walls with vinyl decals. Though these gave us the fun design element...
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