OPEN HOUSE Sunday Sept 30th 1-4pm

4755 Cedros Ave, Sherman Oaks.  Refreshments will be served. 

Flipper lists Rihanna's former home

I'm not much of a celebrity real estate follower. But i do love a good design and a great remodel of any home! 

The investor bought this house last year for about $3.3 million.  The home was a short sale with major issues, according to the LA.Curbed.com article.  Rihanna lost $2 million when she sold her home last year. The investors added lots of upgrades and the home is on the market for $9.95 Million with Valerie Fitzgerald Group.  

The 8,520-square-foot Beverly Crest contemporary sits on about three-quarters of an acre with unobstructed canyon and city views. Amazing remodel of the home!

To view pictures of the remodeled home:
http://tinyurl.com/9jfeafj

What every Buyer needs to know!

Before you start searching the MLS for your dream home, take a look at these tips that every buyer should know.

1) GET PRE-APPROVED!! Get yourself pre-approved by your local bank or a mortgage banker.  Find out what is your price range before "falling in love" with a home that may not fit your budget.  Remember that most pre-approval letters are good for three months.  

2) Credit Scores - Mortgage rates are based on your credit score.  It's true that interest are the lowest but the interest rates you see advertise are often interest rates based an excellent score. You can get a free credit score on the internet.

3) Savings - make sure you have enough funds to cover your downpayment, 3 months of your "soon-to-be mortgage" payment, and closing cost (estimate 3% to 4% of the purchase price).  

4) Make a "Wish List" with your top five "Must-Haves" - it's easy to lose focus during your home search.  Remember, if you find a home or condo with 85% of your wish list - it's a contender!  

5) Choose a realtor that you are comfortable with.  You will be spending a lot of time together - during the homes tours to the close of escrow.  

6) Have fun! This is an important life changing event!  

For more tips and the top 10 frequently asked questions, go to BetancourtRealEstateGroup.com/buyers

What every Seller wants to know!

Here are some great questions to ask during a listing presentation.

1) How much is my home worth?

Get an idea in price range of the value of your home.  This is the first determining factor of deciding to sell and list with an agent. 

2) How much will you list my house for? What is the estimated sale price?

Listing the home at the right price is important! Real Estate is a price driven industry. Choose an agent that understands your local and city real estate market data.  The sale price should be a number that is median range in your area and is competitive.  

3) What will you do to get the property sold?

Marketing is everything in selling real estate.  In today's techie world, buyers are finding homes on the internet first before stepping through the front door.  Choose an agent with a great online presence for your home and great marketing strategies.  First impressions are everything.

4) How long will it take to sell?

Remember, any sale price number an agent gives you is based on current real estate data.  In the end, the aggressive the price is in the market, the fast it will sell.  A high sale price, the listing will stay longer on the market. 

5) How much will I walk with at the close of the sale?

Ask for a net sheet! It's important to know what your estimated seller's cost could be.  

For any tips, real estate information, or a comparative market analysis, contact me. 

Eat, Shop, and Play Locally September 29-30 Interactive

In preparing for this weekend's Closure of the I-405, Metro.net has added a great feature on their website about local events and things to do in your area.  You can find local restaurants, retail stores, museums, bike tours and art galleries to visit throughout the weekend.  

Go to http://www.metro.net/interactives/event_map/ and see your local area has to offer you. 

Mortgage delinquencies dip 10.6% in August

According to HousingWire.com, mortgage delinquency rates and foreclosure pre-sale inventory levels fell in August.  Is this another sign that market is recovering?  

Compared to the 31-day period to a year ago, the nation's mortgage delinquency rate had a 10.6% dip in August.  Last month, Lender Processing Services said mortgage delinquencies were down 30% from January 2010 from their firm's own loan-level databases.  

The States with the most non-current loans are Florida, Mississippi, New Jersey, Nevada, and New York.  The States with the lowest percentage of non-current loans are Montana, Alaska, South Dakota, Wyoming, and North Dakota.  

Source: HousingWire.com

Countdown to Closure II: I-405

It's that time again. September 29-30th.  Expect this closure will be only two days as opposed to last year's three day closure.  

METRO is asking all Anglenos to eat, shop, and play locally.  To make your local experience more enjoyable, METRO has post a list of great events and deals from local business near you.  

To view, go to metro.net/405 

For more information regarding the closure of the 405: 

T: 213.922.3665
W: metro.net/405
J
Twitter: twitter.com/i_405
Facebook: Facebook.com/405project

| OPEN HOUSE | Price reduction! Get in now!

OPEN: Sunday Sept. 23rd 

TIME: 1-4pm

Refreshments will be served.

DETAILS: www.4755CedrosAve.com

SJS Investments and Olmedo Construction introduces its signature style, warmth and details to 4755 Cedros Ave in Sherman Oaks.  This  wonderful proeprty offers exceptional features, from the inviting front door and striking details on the outside, to the modern comforts and advanced home features.  4755 Cedros Ave offers a gourmet island kitchen, large master suite, spacious backyard, large laundry room, built-in computer station, covered patios with outdoor ceiling fan, RV parking and the beautifully landscaped front driveway.  Life, like you always wanted.  Welcome home to 4755 Cedros Ave.

Congratulations Silver Lake! You've been names America's Best Hipster Neighborhood

Forbes placed Silver Lake in the top spot on their top 20 places in which hipsterdom is most likely to flourish.  Why Silver Lake? Let's take a look. 

•Walkability (yes)
•Coffee Shops (but of course!)
•Food Trucks (nom nom)
•Farmers' Markets (so fresh)
•Local Bars and Restaurants (true)
•"Artistic occupations" type of residents (can't forget this!)

To read the remainder 19 places, go to Forbes.com 

Green Roofs: Why Green is Good

The Meera Sky Garden House in Singapore (Photo: Guz Architects)

The Hanging Gardens of Babylon were said to be blanketed an entire palace in exotic greenery.  Today, living roofs are blooming with modern technologies and making a good eco-friendly alternatives to materials like asphalt or tile.  

The benefits of using green roofs, according to the EPA is filter pollution, reduce storm water run-off, naturally cool the air, and reducing "heat island effect." Some green roofs aren't just for grass or plants but in urban areas where outdoor space is limited, a roof garden changes the urban view to a beautiful garden. 

Meera Sky Garden House, Singapore

Contemporary Cottage, Bay Village, Ohio

Pacific Heights Townhouse, San Francisco

to view more homes with green roofs (garden roofs), click here. 

Last Couple of Weeks for the LA County Fair!

Event Schedule

Admission + Parking

Find Fair Food

The LA fair will be coming to an end soon.  This will be second to the last week for fun, entrainment and food! don't miss out! 

FHA Temporarily Eases Guidance on Condo Approvals

According to a letter sent to lenders on Thursday, the FHA eased some requirements for financing the purchase of condominium units until August of 2014.

There is a new rule that will be put into place.

New Rule: No more than 15% of the total units can be delinquent by 60 days or more on their condo association fees. 

Old Rule: No more than 15% of total units can be delinquent by 30 days or more on their condo association fees. 


Rules that still in effect:

1. Half of the units to be owner-occupied for the projects completed more than one year ago. 

2. Investors can own up to 30% of the units on some of the projects in order to qualify for FHA financing.

The Community Associations Institute, a trade group of community associations, pushed the FHA to revise the rules.  With these changes, more Americans can obtain FHA-insured mortgages to purchase condominiums and help the condominium communities to recover from the housing slump.


Source: HousingWire.com

For condo property search in your area, go to BetancourtRealEstateGroup.com

OPEN HOUSE THIS SUNDAY!!

Open House this Sunday September 16 from 1-5pm.  Refreshments will be served. see you there! 

Empire State of Mind 9/11 Tribute

Empire State of Mind 9/11 Tribute from Michael Brant on Vimeo.

Just how fast does Los Angeles need an NFL stadium Downtown?

Genlser

Happy Monday Everyone! Normally, I report Real Estate News on interest rates, housing data, etc.... However this past weekend was the kickoff to the NFL season.  So I thought this entry should be a mixture of both real estate news and the NFL!

Today's entry is on Downtown NFL's stadium! 

Apparently, the state legislature has already passed a law to speed up any legal challenges to the Farmers Field plan in which the lawsuit states that developer AEG is receiving special treatment with the law and is in violation of the California Environmental Quality Act.  One of the plaintiffs says the project will have a huge impact on parking, housing prices, traffic and air quality.  It's true about housing prices rising with the already high price condos around LA LIVE.  Condos around that area are prime downtown real estates! 

City Council member Jan Perry wants to hurry city approvals along.  She submitted a resolution to reduce the public hearing notice period to 10 days.  Usually the city allows 24 days for the public to digest a major development agreement.  Perry's reason is to avoid any delays in the project.  If the council fails to vote by the set deadline, the project could be delayed by a year!  

But what about a team or teams?  The league won't decide on the matter until March 2013.  

We hear how the matter resolve on September 28th when the council votes. 

Just released to the city staff from Farmers Field is the agreement that AEG will pay for millions in improvement to the area around the stadium including $10 million to add another platform at the Metro Blue Line and Expo Line station at Pico Blvd, and $2.4 million to fund a study to add a northbound lane to the US-101 Hollywood Freeway near downtown.  

Source: LA Curbed

Mother Duck knows best!

My husband sent this video clip and I must say that a Mother Duck knows best! 

NFL kickoff game!

Game 1 of 2012 season: DALLAS vs GIANTS....who do you think will be this year's champion team?

OPEN HOUSE TODAY! 4755 CEDROS AVE

OPEN HOUSE @ 4755 Cedros Ave, Sherman Oaks 1-5pm

For more info: http://tinyurl.com/9otqrgm
For list of features: http://www.postlets.com/repb/7996095

See you there!