Los Angeles Bank Owned Pool Property

It's 101 degrees today in Los Angeles. Hello, Indian Summer! The real estate market remains tenuous, but triple digit weather has everyone looking for the bargain of the century: bank owned property with a pool and a view! I worked with several investors last year who wouldn't look at anything but bank-owned pool homes because they saw the intrinsic value in owning a home that had the added benefit of a pool- a 'must' for days like this in Los Angeles. As an REO broker, I've found that regardless of condition, people love, love, love a Los Angeles bargain property with a pool and will jump all over the chance to own one. if you manage get your offer accepted and snag a bank owned property with a pool and a view, I cannot stress enough the importance of having the pool thoroughly inspected. Remember: most banks these days sell property 'as is' and they're not likely to pay for costly repairs. You need to know exactly what you're getting into, especially with bank owned homes with pools in Los Angeles, since these properties have often been neglected for months and there are likely to be issues with the structure and mechanical components of the pool. Once you know what's required to get the home in good, working order you can evaluate whether your bargain Los Angeles bank owned property with a pool is really such a bargain after all. Happy house hunting and thanks to Lisa Delzompo for her great post on Murrieta bank-owned pool homes.

Please contact me directly at 323-461-6570 if you would like more information about the real estate market in Urban L.A., or any information contained in this blog. For a free list of homes for sale, please visit UrbanPulseProperties.com.

Via Lisa Delzompo (PRW Lending (loans) and Sand to Sea Properties, Inc. (homes)):
Video of Murrieta Bank-Owned Pool Home

Amenities of this neighborhood and this home:

• Quiet, tree-lined streets with sidewalks,
• Large, open floor plan, over 3600 sq ft,
• Granite counters in kitchen,
• Wooden and wrought-iron staircase,
• Bedroom and office downstairs,
• Pool has jacuzzi and waterfall,
• Views unobstructed of the Santa Rosa Plateau to the west,
• On a cul-de-sac,
• Half mile to Thompson Middle School,
• 3/4 mile to Murrieta Valley High School,

Keep in mind, we do not have this listing.  I would love to have it, since it is so close to where I live and work, but for now I will be waiting for it to come on the market, for it to have signs in the yard and for it to be open for offers from my clients who want a Murrieta bank-owned pool home with views on a cul-de-sac and are ready for a fixer-upper as far as the back yard goes.  I have not recently seen the inside, but it was highly upgraded before going through the foreclosure process.
Here is video of a well-maintained pool in the same neighborhood (also not currently listed, but audio has some more information on the Murrieta pool homes in the Vineyard, and it's a lovely pool:

What Do People Want in a Home Today?

Ask, and you shall receive. Maybe the answers you're seeking aren't exactly what you expected, but thoughtful response to questions that may seem obvious help us to develop a fresh perspective, refine the operating principles of our lives and businesses, and lead us in new directions to meet our goals. Certainly, we have all been challenged with the task of asking ourselves the tough questions in the last few years of hardship. Those tough questions are different for everyone, but if you are really interested in growth and progress, it's time to have a 'coming to Jesus' with yourself about what's no longer working, where you want to go, and how you plan to get there.
The real estate industry is no exception and it, like the rest of us, is starting to ask the tough questions. I recently happened upon this survey, from a local real estate market research firm in Orange County, CA. In response to changing times, this company is conducting market research on home preferences and offering a chance to win a $500 Apple Gift Card for anyone who completes the survey. The study aims to answer the following about what people want in a home today:

• Has the willingness to commute changed?
• What does Gen Y say about renting versus owning?
• Where will the Boomers retire? When? And to what lifestyle?
• What are the differences in the ideal home design by generation?
• What do consumers want in community, and how much will they pay for it?
• Who wants to downsize, and will the McMansion make a comeback?
• Can urban living prosper outside of the core of downtown areas?
• Do consumers really want green technology in their homes, or is green in their pockets more important? Do they expect both?
• How should the cultural trend toward customization impact home builder business strategy? When should builders include features or option them?

I am so inspired by the list of great questions from this survey, that I am going to conduct my own survey in my market area to find out what people want in a home today in Los Angeles. The more we know, the better the service we can provide to one another and ourselves.

Please contact me directly at 323-461-6570 if you would like more information about the real estate market in Urban L.A., or any information contained in this blog. For a free list of homes for sale, please visit UrbanPulseProperties.com.

Beverly Hills homes are selling like hotcakes (relatively speaking)! Sales of Beverly Hills homes increased, by one-hundred and eighty-six percent (186%), in August, 2010, and in comparison to the same month last year. Beverly Hills home sales have been on the rise since hitting a low point for the year in the first quarter. Despite a steady increase in sales over the last several months, only twenty (20) Beverly Hills homes were sold in August of 2010, while the Combined L.A./Westside MLS reflects the sale of only seven (7) Beverly Hills homes for August 2009.

Beverly Hills Homes Sold for August 2010:

Supply continues to drastically outpace demand, although there was a 19% decrease in Beverly Hills homes for sale in August 2010, as compared with the same month last year. There were one-hundred and fifty-eight (158) Beverly Hills homes listed for sale in August of 2010.

Sales prices for Beverly Hills homes barely increased by one percent (1%) in August of 2010 and compared to the same period last year. Lack of movement in price indicates the top of the threshold of tolerance for pricing of homes in this area, though a one percent increase for this price point translates to a substantial dollar amount. The median ‘sold’ price for Beverly Hills homes in August, 2010 was two-million nine-hundred and fifty-thousand dollars ($2,950,000) as compared to an average sold price of two-million nine-hundred and twenty-thousand dollars ($2,920,000) just a year ago. 

Median Sold Price of Downtown L.A.  Condos for July 2010:

The average 'days on market' for Beverly Hills homes in August 2010 has increased by 20%, or about 11 additional days on the market from this time last year. This may be an indicator that the market in this area has very little tolerance for even nominal price increases. Even though sales of homes in Beverly Hills have increased substantially since this time last year, buyers are really taking their time before deciding to move forward with home purchases in Beverly Hills.  

Perhaps by wishful thinking on the part of home sellers, listing prices of Beverly Hills homes have increased by twenty-two percent (22%) from July 2009 to July 2010. However, the actual sales prices of Beverly Hills has risen by only one percent (1%), which indicates that those in the market for a home are 'just not buying it,' at least in Beverly Hills. With sales showing a healthy increase since last year, it's a safe bet to assume that sellers are giving in, opting to sell their homes for true market value instead of their pie-in-the-sky listing prices. 

Please contact me if you would like more information about the real estate market in Urban L.A., or the Beverly Hills home market. 

For a free list of homes for sale, please visit UrbanPulseProperties.com.

Finding the Best Schools in Los Angeles

Finding the best school for your child is one of the most important decisions a parent can make in Los Angeles. Budget cuts, failing curriculum, crowded classrooms, and unmotivated and underpaid teachers are a reality in California's present day school system.  Even so, many parents do not have the option of providing their kids with private school education so they must make every effort to make the best out of California's less-than-ideal school system. With the end of Summer upon us, parents are well in to the throes of considering these complicated questions when it comes to their childrens' education.

Here are some of the questions you should consider when evaluating the best schools in Los Angeles for your child (courtesy of Wayne Davis, Realtor):

          Do Your Research: Scholastic Considerations

What is the curriculum?

What are the SAT scores?

What grade does computer education start at?

What is the total student population?

What is the average class size?

What is the student-teacher ration for your child’s grade level? 

          Make Contact: Connect with Key People and Organizations

If the district has a magnet program that you are interested in, ask the Magnet Director how long the waiting list is and whether your child will get in.
Contact the Director of Computer Education to find out the student-computer ratio and if the district’s teachers have participated in a computer training program.
Contact the Parent Teacher Organization and find out how active it is. Studies have shown that children’s academic success increases when parents are actively involved in their education.

At the School: Will Your Child be Happy There?
Make an appointment with the Principal for you and your children to visit the school when school is in session so you can observe a normal school day. This is your chance to learn the personality of the school.

Check classrooms for interested and smiling faces.

Look at the projects and student artwork on the walls.

Do the students dress like your kids and do they look friendly?

Find out the style of dress for the first day of school so you can help your kids fit in.

There are many concrete factors to consider in finding the best choice for a school in Los Angeles. After you’ve done your research, visited the school and checked in in with your kids, the best indicator you have is your intuition and good common sense.

By the way, I sell real estate throughout Urban L.A., so please feel free to visit me at UrbanPulseProperties.com for a complimentary list of homes for sale.

West Hollywood Cash Buyers Beware! Do Your Due Diligence!

Buyer beware! I cannot emphasize this point enough to all potential cash home buyers in West Hollywood and beyond: Do your homework! Due diligence is a critical part of the home buying process, but it is astounding how many home buyers will skimp on their home inspection when paying cash for a real estate investment. It's vital to find all the costly flaws before you buy, whether the purchase be with cash or a home loan.
Many homes on the market today are distressed properties -- foreclosures and short sales -- and that only increases the importance of good inspections since many of these homes have years of deferred maintenance, some of which is not immediately apparent by visual inspection.
A home inspection can find problems with the foundation, electrical, plumbing, roof, attic insulation, and heating and air conditioning. In California, separate licensed inspectors offer mold, termite, geological, and other specialized inspections.
if you're considering a cash home purchase in West Hollywood, be sure to align yourself with an experienced real estate agent who can give you expert advise on the type of inspections you should consider if you are paying cash or financing a home purchase in West Hollywood or the greater Los Angeles area. If you still think inspections are a waste of money, read Lenn Harley's recent blog post on the hazards of wishful thinking when it comes to a cash home purchase...

 Via Lenn Harley, Real Estate Broker, Virginia & Maryland (Lenn Harley, Homefinders.com, MD & VA Homes and Real Estate):

CASH HOME BUYERS BEWARE!  DO YOUR HOME WORK AND PROTECT YOUR INVESTMENT!
A telephone call from a lovely gentleman a few minutes ago serves as a reminder that, just because you're paying cash for a real estate purchase doesn't mean that you should neglect DUE DILIGENCE.
The gentleman has recently received a NOTICE from the County of Prince William in northern Virginia about a roof"that was installed by the previous owner over a patio in the back yard of the town home.  He was been noticed that the "roof" over the patio may have been installed with the benefit of a building permit and he should contact them and provide the county permit office with a plat of the property.
This is a town home property which means, to me, that there is a Home Owners Association.
The gentleman cannot locate the agent who represented him in the purchase but a few questions revealed:
1.  He did not have a survey made of the property prior to closing on the CASH PURCHASE.
2.  He did not read the HOA documents prior to closing on the property.
3.  He did not receive a plat of the property prior to closing (probably included in the HOA docs along with requirements for additions).
I FOUND YOU ON GOOGLE.  I receive calls of this nature regularly because when folks search Google for anything real estate related in my market area, they may run into one of my web sites or blogs.  Don't you love it???  I do.  I don't know what keyword phrase he used in Google but my web site was returned in the SERP.
My advice to the gentleman was to

• Review his HOA docs rules regarding modification, additions, etc.
• Contact the HOA and request a plat to present to the county. 
• I directed him to a web site where he can pull a the public records for his property.

I couldn't resist lecturing him about not performing due diligence before buying a piece of real estate.  Who knows, next time he's ready to buy, he just might remember who gave him some guidance in his moment of need.  He was very grateful and for some reason, I suspect that I will hear from him in the future.  Or, he will recommend me to another consumer of real estate services.
WHAT COULD HAPPEN?  Several things come to mind including but not limited to:

• The county can inspect and issue a building permit for the structure.
• The county can inspect and order the structure removed (torn down), which in itself may require a permit. 

NOTE TO CONSUMERS:  Work with an experienced real estate buyers agent who will help guide you to the matters to investigate BEFORE you buy. 

Be A Class Act

'Class is an aura of confidence that is being sure without being cocky. Class has nothing to do with money. Class never runs scared. It is self-discipline and self-knowledge. it's sure footedness that comes with having proved you can meet life.'

I have been re-reading The Success Principles: How to Get from Where You Are to Where You Want to Be, by Jack Canfield. He's the guy that also wrote The Chicken Soup for the Soul Series and I have to say that the book provides a lot of valuable information for uncovering the path towards your best self. One of the last chapters talks about conducting ourselves with class. I must admit that I sometimes wonder if most of us (myself included) haven't forgotten the meaning of the word and what it means to walk through life accordingly. Having class is about:

Living by your own highest standards- you must have personal standards that are more demanding and exacting than that of conventional society. These standards are chosen, established and applied.

Maintaining dignity and grace under pressure- you must remain unwavering, calm, and certain in the face of chaos. Your steadiness gives courage and security to others.

Focusing and improving the behavior of others- lead by example and others will rise to meet your standard out of respect and admiration and the knowledge that they too can be better than they've given themselves credit for.

Operating from a larger, inclusive perspective- the ability to have compassion and deep understanding is linked to our own feelings of humanity. Remember that you are inextricably linked to others.

Increasing the quality of every experience- create more than you consume. Enrich the lives of others by finding ways to introduce greater beauty, significance, uniqueness, and stimulation into every experience.

Counteracting meanness, pettiness, and vulgarity- instead, act with generosity of spirit, gratitude, respect, courtesy, and appreciation. Act unexpectedly, in a manner that elevates and acknowledges others.

Taking responsibility for actions and results- be accountable. Tell the truth about your failures, transform your defeats into progress.

Strengthening the integrity of all situations- challenge yourself. Find ways to grow, develop, and add value to the world.

Expanding the meaning of being human- Approach everyone you meet with new eyes. Give yourself and others the opportunity and freedom to express their uniqueness in the world.

Increasing the confidence and capabilities of others- be an 'energy creator,' not an 'energy drainer.' Build your own confidence by defining and consciously choosing your governing ideals. Your strength of conviction will provide a solid foundation for others to discover greater creativity, cooperation, progress, and growth.

I don't know about you, but in the face of adversity, I've found the need to revisit these principles. It's easy to be classy when life isn't throwing you curveballs (and how often does that happen?)  I hope you found it a needed reminder also...

By the way, I sell real estate throughout Urban L.A., so please feel welcomed to visit me at UrbanPulseProperties.com for a complimentary list of homes for sale.

Local California Farmers' Markets in Los Angeles

Local Farmers' markets are found in abundance in California, especially here in Los Angeles. We are fortunate to have over 120 Farmers' markets in Los Angeles County, all stocked with fresh, organic, & natural foods and produce from hyper-local farmers. Most California & Los Angeles area Farmers' markets are certified and serve the community by providing fresh, affordable produce from local area farmers that sell directly to the public. Along with a rainbow of produce, you'll find fresh flowers, hand-crafted goods, ready made foods, and lively entertainment at local farmers' markets.

It's almost impossible not to eventually trip over a Farmers' Market in Los Angeles since there are numerous fresh fare markets open daily throughout the city. In case you're thinking that a trip to Whole Foods might just be easier, think twice. Farmers' markets in Los Angeles do nothing but good by serving the:

Consumer

• They provide direct contact and feedback between customers and producers, so you can be sure how your vegetables are grown and meat produced.
• They help to improve diet and nutrition by providing access to fresh food.
• They play an important role in educating the consumer as to the production and origin of their food.
• They can be a source of information and inspiration on how to cook and prepare fresh ingredients.

Environment

• They help reduce food miles, thus vehicle pollution, noise, and fossil fuel use.
• They help to reduce packaging.
• They encourage more environmental production practices, such as organic or pesticide free.
• They encourage farm diversification and hence bio-diversity.

Community & Local Economy

•  They help bring life into towns and cities aiding regeneration.
• They encourage social interaction particularly between rural and urban communities.
• They stimulate local economic development by increasing employment, encouraging consumers to support local business, and thus keeping the money within the local community.
• They attract business to retailers in the vicinity.

(Source: www.farmersmarkets.net)

If these aren't reasons enough to hit your neighborhood's local farmers' market, don't forget how much fun you risk having on your next visit! I recently wandered through the Santa Monica Farmers' market, bought a few peaches to eat, and  found a few sights and sounds to feed my soul. A perfect day at the Farmers' market...

By the way, I sell real estate throughout Urban L.A., so please visit me at UrbanPulseProperties.com for a free list of homes for sale.

Related Articles

• Mobile Farmers' Markets Bring Produce To The People (huffingtonpost.com)
• Farmer's Markets: Pricey or Budget-Friendly? (mint.com)

The Downtown L.A. Art Walk is a free, self-guided tour of a wide genre of art venues in Downtown Los Angeles. From commercial art galleries to museums, and non-profit arts exhibitions, there's a little bit of something for everyone. The Downtown L.A. Art Walk takes place on the 2nd Thursday of every month.
The Downtown Art Walk has been going strong since its inception in September 2004,  with thousands of people attending every month. Participants in the Downtown L.A. Art Walk include the following list of nearly 50 art venues:


The Downtown L.A. Art Walk takes place in the central downtown area, within the walkable districts between the Grand Avenue / Disney Hall / MOCA, Little Tokyo, the Financial District, and centered around Gallery Row on Main and Spring Streets in the Historic Core. You'll find that the majority of galleries are open until about 9 p.m., with a few closing either earlier or later. It's best to call the galleries directly for more specific information.

If you want to avoid traffic and parking hassles, your best bet is to take advantage of the Metro system since the Downtown L.A. Art Walk is easily accessible via the Metro Red, Gold, and Blue line trains, and many run until at least midnight. The closest Metro stop is Pershing Square but  paid parking is also plentiful in the area, in case public transit isn't your thing.  Parking meters are available until 4PM, and free after 6 or 7 PM on most streets. Once you're downtown, local LA City DASH buses are an easy way to get around for only 25¢ until 6PM. After the Downtown L.A. Art Walk, you'll find an abundance of bars and lounges that wil be open into the wee hours with entertainment, food, and drink. Be safe, have fun, and enjoy the walk!

By the way, I sell real estate throughout urban L.A.

Please contact me if you would like more information about the real estate market in Urban L.A., or the Downtown L.A. Condo market. For a free list of homes for sale, please visit UrbanPulseProperties.com.

When Will Los Angeles Area Homes Regain Their Value?

You're probably beginning to wonder: When will Los Angeles area homes regain their value? If you own a home in L.A., I regret to tell you that you’ll need to wait another 15 years before your home's value will return to pre-recession levels. This, according to the reputable Fiserv Case-Schiller Index, that also reports that we've yet to see the worst of it, as the U.S. will continue to experience an overall downward decent in home values. The Index forecasts a further 7% decline in home prices through the end of the year, with the beginnings of a sluggish economic recovery no where in sight until the beginning of 2011.
The index shows volatility in the U.S. real estate market and home prices like none experienced in recent or distant history. On a somewhat positive note, other states, like Michigan, Ohio, and Nevada can expect a quicker rebound of somewhere around 10 years to see home prices climb back to their previous values. But while you're waiting for 2025 to see Los Angeles area homes regain their value, rest assured that the June Fiserv Case-Schiller Index report suggests that there is 'broad evidence' that U.S. housing markets are stabilizing.
That report from the fourth quarter of 2009 positively suggests that U.S. home prices were rising in 155 out of 384 metro areas, even in hard-hit states like California. But that good news didn't gain much momentum since the index numbers also showed that the average U.S. home price slid 2.5% from the same period in 2008.
The index notes high unemployment rates and an over abundance of distressed and foreclosed properties as key reasons for such lackluster performance, especially in areas like Los Angeles and the rest of California.
Nevertheless, American optimism that an overdue economic recovery has finally arrived seems to be the prevailing force as home prices tick upward. Devastating drops in home prices over the last several years have also quite simply made the cost of home ownership more affordable again, for both first-time home buyers and investors. Now, we must work towards job growth and economic recovery while and striving to be patient as Los Angeles area homes regain their value.
For a more detailed perspective on the Los Angeles area real estate market or a list of homes for sale, please visit UrbanPulseProperties.