Multiple Offers Are Back Again

The title says it all...we are starting to see multiple offers back again.  And while we all thought that investment purchases were starting to fade away, we have seen a come back with those as well.  Just to clarify what an "investment purchase" means....it just boils down to the fact that they typically purchase homes using all cash so being in competition with them when you put an offer on a house can be more difficult that being up against another purchaser that is using a loan.  So, what does this mean and where is it going to go in the near future with the real estate market?  Well, it means if you are thinking about selling and your home is at or under the 800k-900k and priced well, this will be a good time to sell.  This also means that, once again, if you are looking to make a purchase of a home within that same price range, you don't want to wait.  This time last year I was preaching to people to go ahead and buy...well just one year later and the average home around my area of LA (which is the valley) is now priced 20-30% higher.  I know that may be a hard pill to swallow for people who were looking last year but didn't buy, but I'll say it again...don't wait to buy if you are able to do so now. While I do not believe prices will take a steep upward turn the way the did last year, I do believe they will be on a slow but steady incline and there is no arguing that the loan interest rates are still at a fantastic low and they will also continue to rise in time. And if you read my articles regularly, you know that I always like to make a prediction of where the market is headed...and you will also know that I have yet to be wrong (yes, I'm blowing my own horn there) But you will see again, I predicted that February would be the time we would start to see some good action in the market again (refer to my article from January http://losangelesdollehouse.blogspot.com/2014/01/what-is-market-doing-with-1million-plus.html ) So, my professional opinion is that the market will continue to stay strong this year and prices will be on the rise, although nothing as dramatic as last year. I think now is the best time to buy and waiting till the summer will put you up against multiple offers.  This coming summer will be a busy one.  Procrastination will not be your friend in the market this year so, jump on it! And if you are thinking about selling or buying, give me a call.  I am always here for you.
                                                                

Remodeling Cost VS Value in 2014

I posted about this last year and had a ton of people read this article and visited this site.  It really is a great tool to be able to get a feel for whether you want to spend your money on a certain project in your home or maybe go for a different one if you are concerned about a return on your investment.  This site details down to the city you live in so for those of us who live in pricey Los Angeles, it will be different from other parts of the US.  Check it out Remodeling Cost VS Value in 2014
                                                                    
                                                                    

Laurel Plaza: Finally To Be Developed

I've been keeping my ear close to the ground for years in hopes to hear that this area of North Hollywood would be developed back to it's originally intended site that use to bring shoppers from all around to this area.  About 50 years ago, this use to be a thriving mall...considered to be one of the best in the country.  You wouldn't even believe this if you drove through this area today.  The run-down shops, broken windows and boarded up stores are a grave site to see.  And it's really too bad because there are some terrific neighborhoods and homes close to this area that have been effected by the sad appearance of this once-lively-mall and it has also brought some of the other downfalls that run-down areas tend to attract.  But North Hollywood, and it's people, are bursting at the seams to give this lovely town a makeover.  And so the news is finally in....Laurel Plaza (where the Macy's is located) is finally sold and plans for development of a mixed-used plaza is now underway.  And I say, cheers to that!! There have been rumors for years that a developer such as Rick Caruso (of the Grove and Americana) would take on this project, but it never took hold I guess till now...and I wish this developer all the best in their efforts to come.  The Northridge earthquake damaged these buildings and it's been a downward spiral ever since for this commercial space.  But now we can finally look forward to new shops, new jobs, and hopefully a wonderful new look.  Now keep in mind, this does not include the development of the shops across the street on Laurel from Erwin to the Victory intersections but hopefully this will be a domino effect and those will soon get a face lift as well.  To read more about this, LA Times writer, Roger Vincent posted an article in last week's paper and you can find it here "Laurel Plaza Shopping Center in North Hollywood is Sold"

                                                                              

Leaf Blowing In Los Angeles

I've written a lot of articles on Los Angeles real estate and things regarding our community.  Anything from "What Does an Escrow Company Do?" to "What is going on with the construction at Ventura and Hazeltine?" can be found here on my blog.  I really try to keep all my articles very informative for people wanting to know about the market or happenings in the area.  But this article is really my soapbox about something that I have a personal interest in (or disinterest to be more fair).  I have a strong dislike for leaf blowers and have had it for a very long time.  From the years when I was in my early twenties living in Hollywood and they would wake me up at 7am to now-a-days where I am in a home in a quiet residential area of the valley and I have to close my windows so they don't wake up my baby.  For those of you who may read this and live elsewhere in an area where they are not used, they can be as loud as a chainsaw, they do absolutely no improvement to the area since all they do is blow leaves and dust everywhere but the immediate area, and the gas ones are bad for breathing and the air.  For those of us who live in LA, we are pretty use to all the noises of the city, the air pollution but also, the wonderful weather we are blessed with here.  But the amount of times that I have to quickly roll my car windows up as I come upon a thick cloud of dust and debris being blown into the streets by a leaf blower, or I have to close my home's windows during certain times of day because of the leaf blowers' noise in the neighborhood, is just uncountable. And for those of us already concerned about the air we breath here with the strong amount of pollution, we just intensify this pollution by kicking up all this dust everywhere we go.  We actually have city ordinances here in LA that not only prohibit gas blowers in a lot of areas, but also prohibit the noise any blower creates. You can find this here on the Los Angeles Police Department website Gas Powered Leaf Blowers Enforcement and Noise Ordinances   Look for Los Angeles Municipal (LAMC) Section 112. 04 (c)  You will find some departments and their phone numbers on that website as well as at the bottom of this article.  But of course this is a double edged sword isn't it?  Because for a very large amount of residents here in LA, most people hire gardeners that use these.  And if they didn't use these, we assume they would charge more for the labor involved in raking the leaves and sweeping, right?  I don't know but I do know that I am not alone when it comes to my extreme dislike of these machines. So while there may not be an easy solution, I believe it is something worth while discussing. Okay, I'm going to breath out now that I have written my frustrations down and feel free to leave your thoughts below. 

Air Quality Management District
800-288-7664 or 800-288-7664
(Emission problems, smoking vehicles, air health hazards)


Leaf Blower Hotline (City of LA)
800-996-CITY


The number to call when you don't know what number to call--- 311




                                                                  

On The Fence About Who Pays For The Repair Of A Neighboring Fence?

So your fence is in need of repair and you start to wonder, "Do I pay for this or is this something I split with the neighbor who's property shares this fence?"  We call this the "California Good Neighbor Fence Law" or aka California Code of Civil Procedure, Section 841.  Of course this question is asked all the time because, well.... it's a good question.  If this fence divides the area between you and your neighbor, then who is responsible for the upkeep?  Well, the simple answer is both of you.  If your neighbor also has a fence on another area that border's their land, then you two together are responsible for the section that is between your properties. I guess we would all hope that when our fence is looking worse-for-wear we could just stop by our neighbor's houses with a plate of cookies and talk over the cost for the fence repair and agree to an even split.  It's not always that easy though.  So, if you need a little fuel for your conversation with the neighbor, refer to the California Civil Code 841 and maybe still bring the cookies just as a good gesture.
                                                             

      

What Is The Market Doing With The $1Million-Plus Homes Right Now?

This past holiday season was a slow one for homes around $1-2 million here in the Valley.  While we typically see a shortage of homes for sale starting around October going through December, that doesn't necessarily mean that buyers aren't still out there.  In fact, because there are less homes on the market, the ones that are out usually still sell in a good time.  But this year didn't seem to go that was for this price range.  There are many homes above $1 million that have been on the market now for a few months and it's looking slow for them being sold.  So, what is this telling us?  My honest guess is that starting in February we will see the market for these homes at this price start to flourish again.  Last year's market looked something like a high speed race and a lot of people bought homes.  The market took a steep climb up and the other people that weren't ready to buy last year may still be holding onto hopes that there may be a dip.  But come February I think we will all see that these values that were brought to us thanks to last year's market will be holding strong and we will be back to a good market for both buyers and sellers.  I've said it before and I'll say it again...don't look back in a year from now and wish you had made a move. Sitting back and watching the market go by is not going to do you any favors. Hindsight is 20/20.  So if you are looking to buy or sell, give me a call and lets talk about getting it done!
                                                                    

Which Projects Are Worth Your Money When Trying To Sell Your House?

There are a lot of people that ask what they should do with their home when getting it ready to sell.  Some things are DIY (do it yourself) and cost no, or very little money.  But there are other things that could..and should be done that cost money.  So, of these projects that cost money, which ones are worth it and which ones can you skip?
Exterior Painting:  If the outside of your home has a good amount of chipped and pealing paints, but the inside of your home is in good, move-in condition, then you should consider having this done before selling.  I know this is a large expense, but unless you have people lining up to buy houses in your area, this could be an instant turn-off for potential buyers. The only time I would recommend leaving that pealing paint alone is if your house is in a condition that would most likely attract investors who can fix it up or want to flip it.
Interior Painting:  Most of the time, I say leave this one for a buyer to do. Unless you have a room that may have a wild paint job or color or there are marks covering the wall that make a room seem "dirty" then let the next person put their own personalization on their new home.
Fixtures:  There are a number of homes that have older lights or things like bathroom fixtures.  This one depends on how the rest of your home looks. If you have updated things like flooring, appliances, and counter tops but you still have brass lighting fixtures, then change them out.  But if your home hasn't been updated in a longer amount of time, then leave it for the buyer.
Appliances:  This is on the list as one of my personal least favorite things to see in a home...mix matched appliances. If you have a stainless steel stove and dishwasher but a white refrigerator, buy a new one so they are all of the same look. I can even say from personal experience, I did this when I sold my own home. 
Carpeting:  Don't assume that everyone hates carpeting...this isn't true. So if your carpet is still in good condition, keep it.  And on the other hand, if it's not in great condition, maybe still consider leaving it.  This is a larger expense and flooring is a person to person preference.  Some like dark wood floors, others prefer laminate wood-like floors, and others may go for a stone. But very often when showing houses I hear that people either do or do not like a certain flooring, no matter what the condition.  It seems to be such a strong like or dislike at times that it would be a pity to spend a lot of money putting down wood flooring that just might turn off a potential buyer. This being said...if your house is in a very nice condition and has been updated in recent years but your carpet is in question, then perhaps throw in the incentive to buyers that you will credit them a certain amount of money at the close of the sale toward new flooring and let them choose their own.
Landscaping:  Yes, yes and more yes! Curb appeal is high on the list of what you should do to make your home marketable for buyers.  Don't go over board and make it seem as if it is a yard that only a professional gardener could manage, but do spend the money cutting the weeds, trimming the bushes and planting some nice flowers. 
Professional Staging: I would rely on what your realtor says about this one. If your home is larger and empty, then this would most likely be a good idea. But it really is a case-to-case decision based on a number of different factors.

So when you are selling, I know you will add these costs up in your head and think things like "well a new refrigerator would be about $1500, that is a lot of money and I may not make that money back in the price." And you may be right....that is a lot of money.  But believe it or not, unless it is a hot seller's market, your house could loose out on offers because of something like that so you may want to think of these expenses in terms of selling vs not selling or having your house sit on the market for a long time. I hope this helps and if you have any real estate needs in the Los Angeles area, feel free to call me.  I am always here. 
                                                                   

New Year's Resolutions For Your Home

 Every year around this time, most people set their New Year's resolutions for the upcoming year. These are usually things that people hope will improve their health, happiness, or maintain these things in your life.  Well, your home is no exception to needing these things as well.  After all, a home doesn't just take care of itself.  So to help insure a long healthy life for your home and the things inside of it, take note of these things on this list and get them done at least once a year.

1. Replace air filters
2. Install carbon monoxide detectors. It's now the law
3. Check and/or replace the batteries in all your smoke and carbon monoxide detectors.
4. Call your local termite company to have them inspect and treat your home.
5. Clean out your gutters and down spouts of all debris.
6. Change filters in all water supply systems.
7. Update your home insurance policy.
8. Have your HVAC system serviced for the year.
9. Clean fireplace of all ashes and look to see if you may need it professionally cleaned or maintained.
10. Clean your roof of all dry leaves and check for leaks, especially around skylights, vents and your chimney.
11. If you have granite counters, have them inspected and possibly serviced to be resealed.
12. Check the caulking around your counter tops, sinks, showers and tubs and other areas to see if new caulking is necessary.
13. Every three years, Get a main line sewer inspection and clean it if necessary.
14. Call me if you are thinking of buying or selling your home this year and have a wonderful beginning to your 2019

                                                            

Home Safety Tips For The Holidays

It is the holiday season and while this is a happy of a time filled with lots of fun, it can also be a great time for criminals as well.  It's the thing we would rather not have to deal with and think about, but in reality, we live in a big city and taking per-cautions is the best way to prevent crime in and around our homes. I attend my neighborhood watch meetings regularly and am active within my neighborhood as well so here are some tips to staying safe this time of year that I have gathered for you:

1. Keep your front porch and back door lights on at night, or have a sensor motion light.  Not only does it detour people lurking in the dark, but it just feels safe to see what is around you and your neighbor's house when you can see.  Fact is, most home break-ins happen during the day.  But for the other crimes that happen at night, this is a simple way to shed some light on the subject.

2. If you are home during the day, and someone knocks at your door, don't be afraid to speak up and loudly and ask them to leave if they are not there for a purpose you want to open the door for.  A lot of criminals will actually walk up to your front door and knock first to make sure no one is home. Then when they hear nothing, they break in.  So if you are home, speak up.

3. If you leave town, make sure you have the paper and mail stopped or picked up while you are gone.  A build up of papers on the driveway is a clear sign for a criminal to make a move.

4. Let your neighbors know if you will be out of town.  They will be around and know if something looks suspicious while you are not home.

5. Do Not leave anything in your car that is visible. No shopping bags, diaper bags, purses, ipods and phones or even phone chords. According to my Senior Lead Police officer, car break ins are a crime of opportunity.  This means the criminals aren't usually pulling on the handle of every car they come across.  They typically just walk past a car, see something, and decide to take it.

6. Try a driveway alarm. A neighbor of mine suggested this saying that it rings a bell in her house if someone walks past it if they are on her driveway.

7. Try having packages delivered to a work address or a friend or family member you know is home during the day to take it for you. It is becoming more common that packages are being taken right from our front doors. Or maybe even consider making the dreadful drive down to the UPS or Fedex store to pick it up if it is a concern for your.

8.  When you have people coming into your home to do work (cable guy, plumber, handyman etc...) keep your home information to yourself and don't share so much.  If you have a dog, don't tell them the dog doesn't bite.  Just put the dog in a room and let it bark. It's best if strangers think you have a four legged security system home all day. And don't mention your plans for Christmas Day or New Year's eve or any other time you won't be home. There is still a way to be friendly without giving out too much info.

9.  And as most of us are on social networking sites, keep your postings limited if you are out of town. Try sharing your vacation photos and experiences once you get back rather than while you are away.

I hope these are some useful tips for you and your home during the holidays, and year-round.  If you have any more you would like to share, feel free to post them in the comment section. And as always, if you are looking to buy, sell or lease, please call me.  I am always here to help. 
 
                                                                   

Tips For Selling Your Home Around The Holidays

Some people think that having their home for sale toward the end of the year when the holidays are here is not a good idea.  They think that maybe there will be no or little buyers or perhaps they just don't want to go through a sale near the holidays. But I can tell you that selling at this time of the year is usually a very good idea.  There is less to choose from to buy, therefore your home has less competition and that is a good thing. So, if you are one of the sellers out there right now, here are a few tips on how to show your house well.

1. Light the fireplace if it's chilli outside. A lit fireplace is one of the best ways to make a nice ambiance in your home.

2. Have some holiday scents wafting through the air.  Bake some cookies and leave them sitting out.     Or boil some water with cinnamon sticks in it.  Try getting some fresh rosemary and warming it up to release the smell.

3. Don't be afraid to hang the stockings or display your Minora. A house that feels loved always shows better.

4.  Make sure you've had your heater checked and it works well. Walking into a cold house can be a big turn off.

5.  If you live in an area that freezes, make sure your side walk is safe and free of icy areas.

6.  If you have a nice yard or a home with a view, consider buying a portable outdoor fire pit from your local hardware store and having that lit.

If you are selling right now, I wish you and your sale the best. If you have not listed your home yet, but are thinking about doing it in the new year, call me. The beginning of the year is also a good time to sell before the spring approaches. Call me and I'll tell you why and as always, I am always here to help.

                                                             

                                                                     

How Do I Sell My Home When I Need the Money From The Sale To Make My Next Purchase?

There is no way around it...this isn't always something that is done with ease. Buying a new home and trying to sell your current one at the same time can sometimes feel like being a trapeze artist and trying to catch one rope while letting go of another at the same time. I mean, when you submit an offer for a home, in order to get it accepted, you need to show on paper that you have the money needed for the down payment. So how do you show you have the money ready to go, if you don't have the money ready to go, right?  Because if you need to sell your current home in order to get that money to buy the next home, then how do you go about doing this? And how do you work with the time frame in order to get this done in a good time?
So for starters, let's say the home you are looking to buy is $800k and you plan on putting down $160k for this home. Most all this money you need to make the purchase will be money you will receive from the sale of your current home.So here are a few common options that you can look over when you are in this scenario:

1. Ask a relative or someone you know if you can borrow the money temporarily until your current home sells. While I've seen this before, it may not be common that everyone has someone to turn to for a sizable loan like that. So here are some other choices you can make. 
2. You can make a plan to sell your home, get that money you need, then move into a temporary     living space until you buy your next home. This works for some but can be hard or impossible for others to make a double move and store their things in the meantime.
3. When you put your home up for sale, you may ask for a "rent back" for a specific period of time. This means that a buyer will buy your home, then rent it back to you and you will then be a tenant to the new buyer. For a lot of people, this is a good option. This is something you have to agree at the accepting of a buyer's offer.  Most of the time, this is no longer than a 60 day period of time. So, the catch with this option is that you will have to find a home and have an accepted offer pretty quickly after your current home closes on the sale. Because, don't forget, once your new home purchase accepts your offer, there is a time period of about 30 days (sometimes more) before the new house is yours. And sometimes purchasing a home can have hiccups that can delay the sale or even terminate the transaction in the middle of it. So with this option it will be best to have a good Plan B just in case (such as option #2)
4. When you go to make an offer on the next home, you can make this offer contingent upon the sale of your current home. (which means your offer is only valid when your first home sells) But honestly speaking, we are in a market where it is very likely that the house you want to buy will just go with a more simple offer that doesn't require that waiting period. But if that is not the case, than this may be a good option for you.
   
                                                                 
   
   
   
   

     

What Stays With My House When I Sell It?

Here's the thing...your realtor should go over a list of things that stays with the house when you sell it, but this doesn't always happen. I guess they assume you should know but it happens time and time again where buyers will walk into their newly purchased home and say "Where's the chandelier?" or "Weren't we suppose to get the refrigerator?" So when your agent writes an offer or you are going over an offer for your home, you should carefully read the section "Items included in and excluded from the purchase" or check to see if things were added on a separate addendum.  But here is the rule of thumb of what should stay with your house when you sell it (and you should Always double check this with your agent or lawyer)
Things That Should Stay:
ceiling fans
attached light fixtures such as sconces and chandeliers
shutters
blinds
drapes and curtains
curtain rods
towel racks
attached toilet paper rolls holders
garbage disposal
water filtration systems
cabinets
cabinet hardware and handles
security systems
door and window screens
fireplace logs if gas
stove if it is attached
oven racks
all pluming and electrical
microwave if it is installed
built-in bookshelves or storage shelves
smoke and carbon monoxide detectors
solar system
outdoor grill if installed
mailbox
any plants and trees that are in-ground
light bulbs
face plates
wine racks or refrigerator if they are installed
bathroom mirrors if they are installed
hot tubs and spas should be written as to whether they stay or go

There is a section on the offer where you can check the refrigerator, stove and washer and dryer as to whether they will stay with the house as part of the sale or not. Please be sure to ask your agent about these! While I see a lot differences between buyers and sellers, this is definitely one of the top disputes that occurs on a regular basis. So when you are selling, if you have any questions about anything you want to take with you, talk about it with your agent and if you want to be extra per-cautious, have them write it in the contract as well.

                                                                       

And as always, if you are in the LA area and thinking of buying, selling or leasing, please give me a call. I am always here to help 323.828.7777

Sold! Great Townhome in a Great Area of NoHo

This condo was built in the past 6 years so it has all the new features and comforts someone is looking for.  It also has personal touches such as custom painting, custom closets, new and updated light features, as well as a lovely wine room that looks like it is straight out of something you'd see in NY with the brick wall features. It is super close to all the new restaurants and bars that are popping up all over NoHo as well as the Metro subway which takes you to downtown, Hollywood, LB, and Pasadena.  It is also located in a residential neighborhood which is great since you don't have to deal with facing a busy main street. Congratulations to the buyer of this beautiful condo!

Sold!

Checklist of Places to Contact And Update Your Address When Moving

When you are ready to move there are a lot of places you need to contact to update your mailing address.  I have put together a list of most of the places you should have on your check list to update your mailing address.
1. credit card companies
2. bank accounts
3. stocks or other investment accounts
4. DMV for your license
5. car registration (which can be different from DMV in some states)
6. any online ordering sites you use such as amazon, ebay, overstock, diapers.com, target, petmeds, shutterfly etc..
7. magazine and newspaper subscriptions
8. medical insurance and offices
9. car insurance
10. homeowners or renters insurance
11. life insurance
12. your place(s) of employment
13. home phone company
14. home internet company
15. cell phone company
16. cable company
17. All utility companies including gas, electric, water, garbage etc...
18. any government agencies you may be using such as social security, medicare, unemployment, disability, veterans services etc...
19. any unions you may belong to
20. colleges and alumni
21. your children's school, nursery, or daycare provider
22. your place of worship
23. Landscape service you use
24. All Productions you may receive tax records from or residuals on
25. Uber/Lyft app

26. All three credit bureau agencies (Transunion, Experian, Equifax) 
27. United States Postal Services (here you can pick up a form at your local office and turn it in there or go to USPS.com and change your address online...there is a fee to do it online though for identity verification purposes)

I know some people have more on their list than this but I hope this helps when you are ready to move.  And when you begin to start thinking about making that move, call me, I am here to help you buy, sell, or lease.
                                                                

Are you paying too much for rent in the Valley?

Are you paying too much for rent?  Well, I guess if I ask that question to any renters, they answer would most likely be "yes...fact is LA is an expensive place to live. But I just saw this article on Sherman Oaks patch where they have a map of different areas and what people are paying for rent vs how much income they earn. It really is shocking...check it out http://shermanoaks.patch.com/groups/newscruncher/p/map-areas-with-poverty-and-people-paying-too-much-for-rent-shermanoaks?utm_source=dlvr.it&utm_medium=twitter