What Does This Year's Real Estate Market Look Like?

This year is starting off hotter than ever, and I'm not just talking about the weather.  People are out wanting to buy with the interest rates so very low.  And sellers are taking advantage of this time knowing that the ball may be in their court if they play their cards right.  The stock market's mood swings have not taken much effect on LA's real estate market.  And developers are still coming out of the wood-works for the opportunity to make a profit on this growing market. So as a home owner, what does this mean?  Well, have you thought of taking your equity and buying investment property?  Or how about selling to finally get into something bigger?  Or perhaps paying rent has you turned you into someone who's just paying another person's mortgage and you're ready to pay your own?  Let's talk about all these possibilities and what it means for you.  And is this the right time for you?
                                                                         

                                                                                               

Rumor has it, the Playboy Mansion is going up for sale

Whether you agree with everything Playboy stands for or not, there is no arguing The Playboy Mansion is one of LA's most well known homes.  And it seems as if this Hollywood landmark is going up for sale near the asking price of $200 million according to Curbed LA This mansion has been home to some of the hottest parties for decades which included a guest list of some of the hottest and most famous people from around the world. The Gothic style mansion was built in the late 1920's and became Hugh Hefner's home in 1971.  While the price of the home is no where near comparable sales in the area, there is great hope that who ever purchases the home will pay a bit more than the actual value of the house itself AKA The Grotto tax!  And I can actually say that I too, got to be on the guest list to The Playboy Mansion for a charity event years ago. Glad I was able to see the house and be a part of Hollywood history before it changes owners.

Porter Ranch Gas Leak: State of Emergency

Porter Ranch, CA has been swimming in a gas leak for months now.  The nearby Aliso Canyon storage facility has a problem on their hands and it seems as if no one has a definite answer or date as to when or how this will be resolved.  Residents in and near Porter Ranch have complained of the smell coming from the gas as well as possible health issues resulting from the leak as well.  As a real estate agent, I have received many calls asking to help relocate people from the area while they are searching for a solution. All of this is taking a huge effect on the people that live there, the businesses that depend on that area, the schools, day cares and much much more. If you're not familiar with Porter Ranch, it is an area in the northern part of Los Angeles located within the San Fernando Valley just above Encino, Van Nuys, and Northridge and just below Santa Clarita which is separated by the Santa Susana mountains. Residents of this area are relying on relocation companies to help them pay for temporary housing while the issue is being addressed.  But Porter Ranch is by no means just a few houses. It holds a lot of people.  And LA already has a tight rental market so this whole process has left many families calling local hotels home for now.  Governor Brown just declared this a State of Emergency http://abc7.com/news/gov-brown-declares-state-of-emergency-in-porter-ranch-area-over-gas-leak/1148790/.  But we all wonder, what are the effects of this that have yet to be seen?  We know this will have an effect on the home owner's property value, at least for the near future, but how long will last?  And what about the animals that live in and around this mountain range? And by the way, with all the rain we are having, does that wash the gas into the soil and streams?  I'd sure like to know!
                                                                           

Before And After Photos of Homes

I should really start posting before and after photos of what some if my clients have done with their homes.  I am so impressed with the vision and follow-through of some of these!  So here is just a starter of my future blogs with some of these!  A wonderful couple bought a home in NoHo just a few months back and look at the love they have already put into it! 
                                                                            

Cheers to Erica and Nick!  I can't wait to see the inside. 

Rain Delay In LA

It looks like the rains are starting to come.  And this is a reminder that most automatic sprinkler systems have a rain delay setting which means it will skip a day of turning on to water your lawn.  Don't forget to use these or find out if you have one.  It will help with the water conservation and really help your water bill. 

Teal Pumpkins

I'm sure you wouldn't blink if you saw a pink dinosaur or a purple spider this Halloween...but what is up with that Teal Pumpkin out in your neighbor's yard?  Well, if you are into handing out candy at your home or taking your little ones out for Trick or Treats, you may be hearing about and seeing these Teal Pumpkins more and more.  With food allergies being such a scare for a lot of kids and their parents, some neighbors have decided to paint a pumpkin teal to let families know that they will have non-food items for our little ghosts and goblins to choose from as well.  And if you would like to hand out some crayons or spider rings too, just paint your pumpkin teal this year and give some parents a little less to be frightened about this Halloween. 

 

                                                         

 

                And if you are looking to make a move this Fall or Winter, call me. 

                                               I am always here to help.

Winds Of Change

If you haven't heard the new changes coming our way in real estate, maybe it's just because you're not in the real estate business, but this can have an impact on you if you are thinking of buying or selling any time in the near future. There are some new regulations that will be in place starting tomorrow that came from the Consumer Protection Act that was signed into law in 2010.  This new regulation is called by another wonderful acronym that we in the industry will start throwing around but let's call it "Know Before You Owe".  Without getting into too much detail, this new change will cause most buying periods to move from a normal 30 day transaction to 45 or more, at least for a while.  "Know Before You Owe" helps buyers to more clearly see what all their costs are going to be when purchasing a home. But at least for a while, loans will be a bit tricky, times to buy and sell could possibly be longer and because of this, deals may be a little less stable.  So my best advice is to work with a lender that you either know very well that has a great deal of experience or ask your realtor for a referral for a lender.  Also, make sure you are working a realtor that is on top of these changes, which is where I say, "Feel free to call me anytime.  I would love to help you in buying or selling your home"
                                                                            

One Escrow Closed and Another One Opened

I have two first time buyers this month.  One that just closed on a home and another that opened escrow on another.  Congratulation to them both! I couldn't be more excited to help some really great people find their first home. 
                                                                       

Top Things People Forget To Look For When Buying A Home

It happens to the best of them.  Buyers walk into a home, look around, get a good feeling about the place and forget to look for some important, and even needful, things they want in a home.  Here are some of the top things that people seem to overlook when looking for a home.
1. Kitchen Pantry
 Not all homes have them. So if yours doesn't, is there a place you can store your food?
2. Place to put/hang the TV
Some homes may have a smaller TV on display that you own.  Or some homes are staged with no TV on display.  So is there a good place to put yours in that home?
3. Garage or parking area
Garage conversions are common here in LA since so many people want more square footage or sometimes a guest unit ,and that is really useful.  But does it leave a place for you and your guests to park your car?
4. Bath tub 
Not all people need them but for the ones that do, make sure that you have one in your bathroom as opposed to just a standing shower.
5. Microwave 
The reason why I tell my clients to look for a microwave isn't because it's a very important item that needs to come with a home, but if there isn't one already there and you bought one, does that leave enough counter space in the kitchen for you?
6. Access door to the back yard 
 Some homes only have one door to the back yard and that door is through a bedroom. Nothing wrong with that, but does it work for you?
7. Central AC and Heat in every room
 Yup. Even as hot as it may get in some areas of LA, there are quite a few that either don't get hot enough for long enough that AC was ever needed by the previous owners, or some homes that are older just may not have put in central AC or heat...at least in every room.
                                                                             

      If you are looking to buy or sell, please call me.  I am always here to help! 

2 New Great Yelp Reviews!

I love helping people buy and sell their homes.  And it makes me so thrilled when they refer me on to people they know and leave great reviews about my services.  There are 2 new ones just posted today on Yelp. 
                                                                            

Places To See Fireworks In LA 2015

 Here are some of the great places to see fireworks in LA.  Just click on the area and it will take you to a link with all the information about those fireworks.

Pasadena Rose Bowl

Pacific Palisades

Downtown/Civic Center

Hollywood Bowl

Marina Del Rey

Long Beach/Queen Mary

Los Angeles Memorial Coliseum

Woodland Hills

Calabasas

Studio City

Burbank

And as always, if you are looking to buy or sell, please consider calling me first.

Rebates And Tax Credits For Your Home

Tax credits for Solar Systems and Geotherman heat pumps
http://energy.gov/savings/residential-renewable-energy-tax-credit

Turf replacement rebates through DWP
Turf rebate

For LADWP residential customers who have in-ground swimming pools filtered with a single-speed pool pump you may be eligible for a $1,000 rebate if you replace it with a certified pool pump
Pool Pump rebate

For certain refrigerators and high efficiency washers find rebates here
Appliance rebates

Heating, cooling and whole house fans rebates
Heating and Cooling

Low Flow Toilet rebate
Low Flow Toilet rebate

Get a Free Tree for your yard
free trees

Free shower heads and faucet aerators
Faucets and shower heads

High Efficiency natural Gas Water Heaters
Gas Water Heaters rebate

Tankless Water heater rebate
Tankless Water heater

High Efficiency clothes washer
Clothes washer rebates

Natural Gas Furnace
Gas Furnace rebates

Energy Efficient window, air duct replacement, and wall/attic insulation
Home Energy Saver rebates

Whole House Home upgrades. From the shell of your home to new flooring and everything in between
Whole House Upgrades

                                                                   

What You Will Need When Renting in Los Angeles

First thing you'll need to know is things can move very quickly.  So if you are looking to rent, you will need these things all ready to go to give to the person who is leasing the home if you like it.  And each person over 18 that will be living there may be required to each have these:
Copy of your driver's license
Copy of your social security card
Copy of at least the last 2 pay checks with stubs attached
Recent credit report or they may run one for you
Have your previous landlords and employers names and contacts
And as a renter, don't forget to ask what is included with the rent.  Such things as gas, electricity, water, cable, landscaping are just a few to inquire about.  And if you every have any questions, feel free to give me a call.
                                                                               

 

Remodeling: Cost VS Value 2015

The 2015 report is here! So if you are thinking about doing some small or big projects on your home, check out this website http://www.remodeling.hw.net/cost-vs-value/2015/pacific/los-angeles-ca/  They have taken data from every region and city to let you know what the Cost VS Value is in each project.  And by no surprise, here in LA some of the highest Value in remodeling comes from doing work to the outside of your home.
                                                                        

What Is That Called?

There are so many features in a home that can make it unique or architecturally appealing.  And as I walk clients through a home a point some of these out, I have heard many people say "Oh, I never knew what that was called".  So I thought it would be fun to put together a blog with some fun features in and around the home that you probably have seen but may not know the name to.
                                                                               

 This is a Baja step.  These are large shallow steps where you can place a pool chair or just sit without having to go all the way in the pool. Sometimes they also have small holes meant to hold umbrellas.

 This is a chair rail. It's a type of wooden molding typically put about 1/3 of the way up a wall to add detail to a room.

 You'll typically find these under the top corner of a door way or on the outside of a building under the eaves.  It is called a Corbel.  This one is a counter top Corbel. You'll see a lot of these on old European buildings and churches as well as Colonial architecture and while this one in the photo is pretty simple, they can be quite ornate. 

 This feature above the door is called a Pediment. You will see these on most Colonial style homes and they can be pointed, curved, or "broken" like the one you see here in the photo.

 If you've ever admired homes in the Hancock Park area of Los Angeles, you've probably seen this.  Called a Porte-Cochère, it is meant to protect a car (or horse and buggy) from the weather when getting in and out.  We now see these a lot a hotel fronts to allow guests to get in and out or their cars and to the front desk without getting rained on if the weather is not favorable.

 Coffered Ceilings are one of my favorite details in a home. Typically seen in the more affluent homes, this really adds a touch of elegance to room.

 You will see these in many backyards in LA. It's called a Pergola and can be free standing, attached to the back of a home. Sometimes you will even find plants such as Wisteria growing from the top.  They add a great place for shade from the summer sun.

Wainscoting was something many New England and Southern homes had in them and they really look nice in many rooms.  They are making a huge come-back as Cape Cod style homes are seen being built everywhere.
                                                                     

This is a Tray Ceiling.  This gives a room dimension and like in this picture, some people paint it to give it that extra touch.

If you are thinking of selling your home or buying a new one, please consider me.  I am always here for you