IET Real Estate Los Angeles Blog

imagesThe yearly Korean Festival started last night and ends on Sunday. Located in the heart of K-Town at Seoul International Park located at 3250 San Marino, 90006. With over 200 booths, here you will

find a variety of Korean food you may never come accross at a regular Korean restaurant. There is also much music to be heard; from Jaz to K-Pop.

Saturday is the highlight however, with the Korean Parade down Olympic Blvd, starting at Catalina and ending on Western Ave.




The Parade begins at 3pm, so be sure to get there early to get a prime spot. 

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glow_picture-1Walk, run, get covered from head-to-toe in neon paint, and benefit Gremlin's Kids, an Athletes for Education program. On September 27, you can do all of those things at one time! Los Angeles is hosting the Neon Dash 5k at the StubHub Center. The Neon Dash is an evening race that promises both to be a lot of fun and to do a lot of good. The gates will open to the public at 6pm, and the festivities continue until 10:30 that night.

Throughout the race course there will be multiple "Glow Zones," inspiring stations with pumping music. These are where the Neon Dash earns its name. As they pass through the "Glow Zones," race participants will be splattered head-to-toe with vivid colors. Another portion of the course will also be covered in "glowing foam" for the

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The fun begins on September 19th 2014 with the Ketchum YMCA Stair Climb, a very exciting event where participants from all over the country will race each other up to the top of the U.S. Bank Tower in Downtown Los Angeles. Towering above the city at 1500 steps, the U.S. Bank Tower is going to be filled with 4-person teams and individual contestants as they scratch and crawl their way to the top. The goal of the campaign is to raise $375,000 from participants.

The first race will be made up of 4-person teams from the public who have signed up to participate in the challenge. The second race will be composed of police officers, firefighters, rangers highway patrol, and other public safety employees who will be competing for the coveted title of High-Rise

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I recently visited phase 1 of Lennar Homes latest project on Cahuenga Blvd in Hollywood. This gated community will feature 42 detached, 3 story, single family resident homes. Adjacent to the 101 and super close to all the Los Angeles hotspots, not to mention walking distance to the Hollywood bowl, these properties are sure to go as quickly as they are completed.



The beauty of these homes are that all the extravagant amenities are included in the sales price. If you want that modern kitchen with stainless steel appliances and Caeserstone counter tops, it's yours. No need to shell out for upgrades.




There are 3 residences to choose from. Residence 1 is approximately 1,394 sq ft and has 2 bedrooms, 2.5 bathrooms and also a 2 car garage.

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287139_416222628434937_413869744_o_400For those of you stuck in L.A. this Labor Day weekend, no need to fret for there are many things going on in our own back yard. The Queen Mary is host to not one but two festivals on this holiday. Kicking off the weekend is the Shoreline Jam which is a two day event, August 30-31 featuring the bands Dirty Heads, Pepper and many others. Each day is a different line-up of eight bands so I suggest you take advantage of both days.                      

The Long Beach Funk Fest will complete the Labor Day weekend festivities with the funkilicious groove of George Clinton, Parliament Funkadelic and Karl Denson's Tiny Universe to name a few. 
Advanced  tickets for Shoreline Jam are $25 ($35 at the door) per day, $45 for both days. The Long Beach…
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1With over 30 of the hottest restaurants participating, this is a pancake lovers dream and definitely a not to miss event!  Advanced tickets are $40 ($45 door pricing) which include 40 plus food samples, juice, Beer, wine, and cocktail samples and a take home mug. Not a bad deal, come out with a belly full and a buzz. Good way to end the weekend. tickets can be purchased at: 




A portion of ticket sales will be donated to Food on Foot,  a non-profit organization dedicated to providing the poor and homeless of Los Angeles with nutritious meals, clothing, job opportunities, and assistance in the transition to employment and life off the streets.









 **Update 8/22/14

5 Can't-Miss Vendors at

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Luxury Property - Newly Constructed - $9,995 Turnkey Manhattan Beach Rental w/ all Bells & Whistles

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Beautiful Mediterranean Villa for lease in the Tree Section of Manhattan Beach. Spacious home with dramatic 2-story entrance and curved stairway. Impressive kitchen that opens to living and dining area with viking range, built-in refrigerator, granite counters and large island. Property has 2nd living room upstairs, tankless H2O heaters, central vacuum and west-facing master suite. Lots of off street parking-2 garage spaces, 1 covered spot and room for 2-3 cars in circular driveway. Gated yard-great secure area for children or pets, unusually large for area (7046 sq ft lot). Private lot location at end of street, neighbors on only 1 side
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Appraisals are useless in the 2013 Los Angeles Real Estate Market

Theoretically an appraisal is supposed to represent the current market value for a piece of residential real estate.  If you look at a standard appraisal done on the Fannie Mae form 1004 an appraiser will use 3 different methods to determine value: Cost Approach, Income Approach and the Sales Comparison Approach.  In the Residential market the value typically used is the Sales Comparison Approach, meaning the appraiser uses prices of comparable properties (similar age, square footage, lot size, condition, amenities, neighborhood, sold within last 6 mos within a 1 mile radius).

Becasue HVCC appraisers are using past sales (typically distressed) to determine value of a property with

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REO Properties being sold subject to 24 CFR 206.125 - What This Means

There is a new type of REO (Lender Owned ) property disclosure that is occassionally seen on properties listed for sale on the Los Angeles Real Estate Market MLS system. You may have seen this statement in the remarks section when looking for homes on the Internet. "This property is being sold subject to 24 CFR 206.125".  This identifies the property as an REO that is being marketed after it had a Reverse Mortgage on it.  Reverse mortgages are sometimes know as Home Equity Conversion Mortgages (HECM) .  In many cases these were probably reverse mortgages taken out during the boom by someone over 62 and in many cases, not all, they are in better condition than some other REOs because…
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Too many Games

Too much Fraud (by property owners, agents & investors)

Easy Solutions

  In order to maximize the amount of money banks are receiving for their assets, their fiduciary duty to their shareholders and moral duty to the American taxpayers who have to bail them out when they get into financial trouble and are "too big to fail", banks need to introduce a higher element of transparency in the short sale transaction process.     Like many REO lenders have already started to do, all short sale offers should be submitted via a lender-direct website that goes directly to the loss mitigation department of the existing lien holders.    
  • No more putting your house up for short sale to extend the amount of time you can live for free. 
  • No
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