Real Estate 
General Topics affecting / related to the 1-4 unit Residential Real Estate Market
There are currently 33 blog entries related to this category.
Help Haitian Earthquake Relief Efforts by Buying or Selling your next Property with IET Real Estate Los Angeles
Thursday, January 14th, 2010 at 1:57pm. 130 Views, 0 Comments.
For the next 6 months IET Real Estate & our affiliated Mortgage Brokerage (IET Capital) will donate $100 at close of escrow for every transaction to emergency relief efforts for victims of the 1/12/2010 earthquake in Haiti.
Please help us help those in desperate need.
Element Loft Auction in Marina Del Rey - Panoramic Views from different vantage points on the building
Wednesday, December 9th, 2009 at 12:37am. 668 Views, 1 Comments.
Click to open pictures in new window
Element Building Marina Del Rey Loft Auction Panoramic Views
Panoramic View from the balcony of Penthouse Unit 501
Northwest facing view from penthouse unit # 512
Southwest facing view from penthouse unit # 512
View North from 5th Floor
View of Common BBQ area from the 5th Floor
The turnout for this auction should be good, at my first info session 11/28/09 the classroom was only 30-40% full. When I went back 12/6/2009 the auction company had moved the class to a bigger unit and people were lined up out the door...
Auction is in 4 days, if you want to participate better register now!!
For information on how the auction is going to run see my previous post
View all photos of Element Auction Marina Del…
Whittier Real Estate Market Report Winter 2009
Tuesday, December 8th, 2009 at 9:27pm. 255 Views, 0 Comments.
Whittier California: Even in Winter, a Wonderfully Liveable Community
The holiday season is a great time to enjoy Whittier's own brand of winter cheer; and in keeping with the trends in real estate over the last few months, a choice time to buy Whittier area property.
Sales of single family homes in October 2009 in Whittier added up to 117, with the average sales price hovering around $370K. While the majority of homes sold for prices between 3% and 20% lower than those of a year earlier--October 2008--homes sold in the 90601 and 90602 zip codes actually showed a sharp increase in price, certainly great news for Whittier area home sellers!
The average listing price among Whitter area homes for sale at the end of November was $453K , with some 350…
Approved Short Sale Library Court Building Downtown Los Angeles $249k Open House 12/6/09 11am-2pm
Thursday, December 3rd, 2009 at 8:46pm. 310 Views, 0 Comments.
Seller wants to accept offer by 12/9/09 and open escrow 12/11/09
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The Library Court is a modern building in downtown Los Angeles. The unit is a 1 bedroom 1 bathroom. The Library Court Building was originally built in 1955 and renovated in 2004 by the Greystone Group. The unit has hardwood floors, Granite Counters & floor to ceiling exterior windows. HOA amenities include 24 hour study area, workout room and business center. On the ground floor of the building there is a Wolfgang Puck Express and a popular watering hole called the Library Bar. The Library court building is across the street from the downtown Standard hotel. This is a great Location in heart of financial district. There has only been 1 owner of this unit since the…
Rent Control in LA: Overview for Los Angeles Real Estate Investors
Thursday, December 3rd, 2009 at 4:22am. 335 Views, 0 Comments.
Because Los Angeles has a Rent Stabilization Ordinance (RSO), raising rent can be tricky if you are not familiar with RSO’s regulations. It is important for Los Angeles real estate agents to understand the type of dwellings that are included in RSO, and the structures that are exempt from its statutes. In addition it is important to know under which circumstances a tenant can be legally evicted. When realtors understand the law, they can knowledgably advise their clients, the Los Angeles real estate investors.
The ordinance’s aim is to protect tenants from unscrupulous landlords who would unjustly raise rent while failing to maintain their properties. Further it seeks to protect occupants from owners who would use coercion and bullying to make their…
Element Auction - Marina Del Rey CA 90292 December 13th 2009
Sunday, November 29th, 2009 at 7:37pm. 1326 Views, 3 Comments.
If you've found this blog post you are most likely already interested in the Element Lofts developed by the now bankrupt John Laing homes.
I spent all day saturday 11/28/09 with clients looking at all the different floorplans and learning about how the auction (run by IntelliMarket) is going to be run.
Debunking the Shadow Inventory Myth in the Los Angeles Foreclosure Market
Sunday, November 29th, 2009 at 2:45am. 306 Views, 0 Comments.
“Shadow inventory” is the term many Real Estate prognosticators have been using to describe homes that were foreclosed on which the bank held on to and did not try to resell right away, in hopes of selling them later on when the market is more favorable to the bank, at a higher price. By taking the number of foreclosures that banks have taken back and subtracting the number of foreclosures they have since resold, one can find the number of foreclosures the banks still have possession of, their “shadow inventory”. The numbers of such properties were on the rise until September of 2008, when banks began reselling foreclosure properties at a rate higher than the number of foreclosures they were receiving from trustee sales. Sales transactions have been…
2010 Extension of the $8000 Homebuyer Tax Credit Explained
Saturday, November 28th, 2009 at 8:09pm. 231 Views, 1 Comments.
Due to the success of the 2009 Homebuyer Tax Credit program lawmakers (on November 6, 2009) have extended and expanded eligibility for the $8000 Homebuyer Tax Credit into 2010. This popular rebate program proved to be an incentive to first time homebuyers and caused a direct increase in home sales at the end of 2009. The original program was due to expire on November 30, 2009. The Worker, Homeownership, and Business Assistance Act of 2009 extends this deadline for closing on the homes until April 30, 2010 or until June 30, 2010 for those buyers who have a binding contract in effect by the end of April 2010.
To qualify as a first time homebuyer the buyer must not have owned a primary residence in three years previous to the purchase date. Lawmakers…
Los Angeles Short Sales Flooding the Market in late November 2009
Thursday, November 26th, 2009 at 4:08pm. 196 Views, 0 Comments.
Los Angeles Short Sale Market Report
As of 11/26/09 there are over 1,000 short sales being sold publicly via the SoCAL MLS/CARETS IDX data feed in Active status in the city of Los Angeles alone, 1,015 to be exact (this does not include anything listed in Los Angeles County). 790 of the 1,015 are listed below the Fannie Mae traditional conforming loan amount of $417,000 and 945 of the 1,015 are below the new super conforming loan amount limit of $729,000. Of these 1,015 listings 310 are priced below $200,000. Only 25 of the properties are listed at $1 million+ price range. My takeaway: Short Sales are typically much better suited for the first time FHA approved home buyer than REO's because
Los Angeles Real Estate Lament
Tuesday, November 17th, 2009 at 2:08am. 130 Views, 0 Comments.
Los Angeles Real Estate Lament
I hesitate to make a list
Of all the countless deals I’ve missed:
Bonanzas that were in my grip-
I watched them through my fingers slip.
The windfalls, which I should have bought
Were lost because I over-thought:
I thought of this, I thought of that;
I could have sworn I smelled a rat.
And while I thought things twice,
Another bought them at the price.
It seems I always hesitate,
Then make my mind up much too late.
A very cautious man I am.
And that is why I never buy.
How Nassau and how Suffolk grew!
North Jersey! Staten Island, too!
While others culled those sprawling farms
And welcomed deals with open arms-
A corner here, ten acres there,
Compounding values year by year.
I chose to think, and as I thought,
They bought the deals I…
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