http://www.postlets.com/res/2780885
Charming 4plex in an amazing Beverlywood/Beverly Hills Adj. location. All 4 units are rented with good standing tenants and high rents. All 4 units have undergone upgrades in the past 4 years including remodeled kitchens and bathrooms. Laundry facilities on site, 4 garage parking spaces, hardwood floors throughout in every unit, water softener system, grassy courtyard.
Gross income is just under $94,000 per year!
1 unit @ $2100
2 units @ $1900
1 unit @ $1889
Wednesday, October 7, 2009
Monday, September 21, 2009
Tuesday, July 28, 2009
New Listing - 11272 Laurie, Studio City
First time on market in over 20 years!!! 3 Bedrooms, 2.5 Bathrooms + Den located in the most sought after CARPENTER School District. Fabulous unobstructed canyon views from the family room, Large LR with fireplace, formal DR, wet bar, Paneled den, all bedrooms have walk-in closets, master bedroom with 2 walk-in closets, private pool & grassy back yard, OVER 2600+ sqft and 15,000 lot size. Great floor plan, needs TLC. Easy to show.
Proudly offered at $899,000
Thursday, May 28, 2009
The Bottom of the Bubble...
Is yet to come...
No we still haven't hit the bottom of the housing decline but there continue to be positive signs for home buyers. With sales of existing homes increasing nearly 3% in April, primarily due to strong numbers of purchases in low price ranges.
First-time buyers continue to influence the market but there also is a seasonal rise of repeat buyers. According to Lawrence Yun, National Association of Realtors chief economist,“Most of the sales are taking place in lower price ranges and activity is beginning to pick up in the midprice ranges, but high-end home sales remain sluggish.”
Which can be rather frustrating for clients who are qualified to buy in the low $400s that seem to be competing with many other home buyers almost always resulting in multiple offers and bidding wars.
Yun continues, “Because foreclosed properties will likely be released into the market over the rest of year, it is critical that distressed homes be quickly cleared from the market. Fortunately, home buyers are being attracted to deeply discounted prices and are bidding up many foreclosed listings, particularly in California, Nevada, and Florida – this will set the stage for healthy market conditions going forward.”
Let's hope so, Yun! One thing's for sure is that we need to fix unemployment otherwise more homes will be lost to foreclosure and prices will continue to slump with only fewer well-qualified buyers willing to make the plunge into home-ownership.
No we still haven't hit the bottom of the housing decline but there continue to be positive signs for home buyers. With sales of existing homes increasing nearly 3% in April, primarily due to strong numbers of purchases in low price ranges.
First-time buyers continue to influence the market but there also is a seasonal rise of repeat buyers. According to Lawrence Yun, National Association of Realtors chief economist,“Most of the sales are taking place in lower price ranges and activity is beginning to pick up in the midprice ranges, but high-end home sales remain sluggish.”
Which can be rather frustrating for clients who are qualified to buy in the low $400s that seem to be competing with many other home buyers almost always resulting in multiple offers and bidding wars.
Yun continues, “Because foreclosed properties will likely be released into the market over the rest of year, it is critical that distressed homes be quickly cleared from the market. Fortunately, home buyers are being attracted to deeply discounted prices and are bidding up many foreclosed listings, particularly in California, Nevada, and Florida – this will set the stage for healthy market conditions going forward.”
Let's hope so, Yun! One thing's for sure is that we need to fix unemployment otherwise more homes will be lost to foreclosure and prices will continue to slump with only fewer well-qualified buyers willing to make the plunge into home-ownership.
Wednesday, May 20, 2009
Thursday, April 23, 2009
New Condo for Sale - 910 S. Holt Ave., #104
OPEN HOUSE SUNDAY 4/26 from 2-5pm!!!| Large and Spacious 2bed/2bath | ||||||||||||||||
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Extremely spacious and bright unit in a highly sought after Beverly Hills Adjacent location. Incredibly low HOA dues at only $240/month! Unit features over 1,400 sqft with new carpets, gorgeous stone fireplace, large bedrooms, wet bar, balcony and tons of storage space. EZ to show and great location near La Cienega park, shops, places of worship and restaurants.
New Condo for Sale - 910 S. Holt Ave., #104
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Central A/C
Thursday, February 19, 2009
The Stimulus Package and You
So Obama and Congress just passed a historic stimulus package to boost our economy but what does it mean for the real estate industry and prospective buyers?
Well one of the key components to the package was injecting $50 billion to stem foreclosures. Just to give you a relevant statistic, 2.3 million homeowners faced foreclosure proceedings in 2008, up 81% from 2007.
The scary thing is that some analysts believe that number could reach as high as 10 million Americans!
Another step in the right direction was the passing of an $8,000 tax credit (originally was $15,000) for first-time home buyers who buy before December 1, 2009 and occupy the home. That's 8 grand that you will not have to pay back and comes out of the taxes you pay!
Also integral, especially for our expensive Los Angeles market, is the increase in loan caps from $625,000 to $729,750 generated from FHA, Freddie and Fannie Mae.
Combine these incentives with tax credits for most wage earners ($400 for individuals and $800 for couples), plus still falling home prices and you've got a better reason to consider buying a home!
Well one of the key components to the package was injecting $50 billion to stem foreclosures. Just to give you a relevant statistic, 2.3 million homeowners faced foreclosure proceedings in 2008, up 81% from 2007.
The scary thing is that some analysts believe that number could reach as high as 10 million Americans!
Another step in the right direction was the passing of an $8,000 tax credit (originally was $15,000) for first-time home buyers who buy before December 1, 2009 and occupy the home. That's 8 grand that you will not have to pay back and comes out of the taxes you pay!
Also integral, especially for our expensive Los Angeles market, is the increase in loan caps from $625,000 to $729,750 generated from FHA, Freddie and Fannie Mae.
Combine these incentives with tax credits for most wage earners ($400 for individuals and $800 for couples), plus still falling home prices and you've got a better reason to consider buying a home!
Thursday, February 5, 2009
New Condo Listing - 353 S. Reeves Dr. #202 Beverly Hills
Don't miss this opportunity to own a gorgeous French style custom decor condo in a great Beverly Hills location!!!
Unit features include:
- 3 bedrooms and 3.5 baths
- 1807 square feet of living space
- Large living room with sleek hardwood floors, fireplace and multiple balconies
- Master suite has its own fireplace
- All bedrooms have their own bathroom
- Washer/Dryer
- 3 Side by side subterranean parking
- High ceilings
- Central A/C & heat
- Complex has a huge sundeck
- Close to Rodeo Dr, shops, restaurants & places of worship.
SELLER FINANCING IS AVAILABLE!!!
EZ to show call Joseph at 310-985-4746.
Tuesday, January 27, 2009
The Economic Downturn and You...
As I was listening to NPR yesterday, they aired a short segment where the journalist was trying to figure out a name of our current economic state.
At first it was called "The Subprime Meltdown" or "The Credit Crisis" and after months of denial by the Bush Administration, they formally announced that our country is in a recession in midst of the presidential campaign.
Now many of our politicians and economists agree "we are in the worst economic downturn since the Great Depression," and according to President Obama, "it's likely to get worse before it gets better."
So where does that leave us with our current real estate market?
Well unless you've spent the last 6 months under a rock in South East Asia (wow, that sounds like so much fun), you've probably noticed that prices are coming down...
- According to another source, 70% of all foreclosed properties in Los Angeles are yet to hit the market.
- Group that with mounting unemployment, the lowest consumer confidence in history and the fact that over 11 million homeowners (roughly 1/7) no longer have equity in their homes. It is safe to say that prices are likely to come down even more.
But wait, there is good news too...
Especially for first time home buyers who are looking to stay at their current residence for at least 3-5 years and can ride out the wave.
- First time home buyers can access a $7,500 credit from the federal government (that must be paid back over 15 years) to be used for a downpayment. Plus, you can withdraw money from your 401k with NO penalty charge, though tax implications still apply (Be sure to consult with a tax professional for all details).
- According to the National Association of Realtors (NAR), existing home sales during the month of December increased 6%.
- Interest rates are at a record low: Conforming Loans (under $417,000) can be found at 4.375%.
So for those still on the fence, who have stable jobs and good credit, save your money for that downpayment and give us a call when you're ready to buy that house! Once the LA real estate market bounces back, you'll most likely never be able to buy a house at these prices again...
At first it was called "The Subprime Meltdown" or "The Credit Crisis" and after months of denial by the Bush Administration, they formally announced that our country is in a recession in midst of the presidential campaign.
Now many of our politicians and economists agree "we are in the worst economic downturn since the Great Depression," and according to President Obama, "it's likely to get worse before it gets better."
So where does that leave us with our current real estate market?
Well unless you've spent the last 6 months under a rock in South East Asia (wow, that sounds like so much fun), you've probably noticed that prices are coming down...
EXPECT PRICES TO CONTINUE TO FALL!- NINJA (No Income No Job or Asset) loans, yes they actually called them that, are just beginning to go into default. These loans were mostly prevalent in vacation/2nd home or investment purchases in areas like Miami Beach or Las Vegas and subsequently have destroyed those markets.
- According to another source, 70% of all foreclosed properties in Los Angeles are yet to hit the market.
- Group that with mounting unemployment, the lowest consumer confidence in history and the fact that over 11 million homeowners (roughly 1/7) no longer have equity in their homes. It is safe to say that prices are likely to come down even more.
But wait, there is good news too...
Especially for first time home buyers who are looking to stay at their current residence for at least 3-5 years and can ride out the wave.
- First time home buyers can access a $7,500 credit from the federal government (that must be paid back over 15 years) to be used for a downpayment. Plus, you can withdraw money from your 401k with NO penalty charge, though tax implications still apply (Be sure to consult with a tax professional for all details).
- According to the National Association of Realtors (NAR), existing home sales during the month of December increased 6%.
- Interest rates are at a record low: Conforming Loans (under $417,000) can be found at 4.375%.
So for those still on the fence, who have stable jobs and good credit, save your money for that downpayment and give us a call when you're ready to buy that house! Once the LA real estate market bounces back, you'll most likely never be able to buy a house at these prices again...
Friday, January 9, 2009
New Listing for the New Year!
535 N. Detroit St., Los Angeles, CA 90036
Amazing location in Miracle Mile one block West of La Brea and North of Beverly!
Walking distance to restaurants, shops, schools and places of worship! Exquisite Spanish 3bd + 2ba + family room or 4th bedroom. Nearly 1,900 square feet of living space on a large lot (6,600 sqft). Features: Central hall floor plan, spacious living room with fireplace and hardwood flooring. Formal dining room. Updated kitchen and breakfast area including two dishwashers. Master suite with walk-in closet and private bathroom with double sinks leads to beautiful backyard!
This is a SHORT SALE!!!
Offered at $895,000
Amazing location in Miracle Mile one block West of La Brea and North of Beverly!
Walking distance to restaurants, shops, schools and places of worship! Exquisite Spanish 3bd + 2ba + family room or 4th bedroom. Nearly 1,900 square feet of living space on a large lot (6,600 sqft). Features: Central hall floor plan, spacious living room with fireplace and hardwood flooring. Formal dining room. Updated kitchen and breakfast area including two dishwashers. Master suite with walk-in closet and private bathroom with double sinks leads to beautiful backyard!
This is a SHORT SALE!!!
Offered at $895,000
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