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Century City, CA Condominium Market Report for January 2011
Century City, CA Condominium Market Report for January 2011. Before I go and give you this market report I would like to let you know, just in case you have not been keeping up with the news. Two of the nation’s largest mortgage lenders have raised their minimum required credit score by approximately 20 points. What does this mean to you? The answer is: 1. it will be harder to get a loan, 2. it will be more expensive to get a loan, and 3. most importantly it will eliminate potential buyers to step back into the market. The long term effect: this will delay the housing market’s ability to rebound faster. The long term effect will be that unemployment rates will be affected as well. Real Estate provides many other industries with work. So now you understand the bad news as a potential buyer this will allow you to continue to purchase at the reasonable prices you have been accustomed to in the past two years. The key will be as long as interest rates remain low, you can take advantage of the better affordability of Condominiums as well as Single Family Residences. There are 257 Active Listings on the Market in Century City, CA. There were 31Condominiums accepting Backup Offers, as well as 38 were Pending. Not so bad for the beginning of the year. Two properties were on Hold Status generally an indication of a Short Sale. There were 16 Properties that Sold for the month of January. All in all this looks like a good start for the year. In spite of the concerns I mentioned in the beginning of my report. Real Estate Sales will improve provided the economy keeps improving and the government limits their desire to want to eliminate the mortgage interest deduction. If you are a consumer who is considering buying or selling a home, investment real estate, vacation homes, or beach properties in Southern California, Los Angeles, Century City, Westwood, West Hollywood, Beverly Hills, Culver City, Marina Del Rey, Venice or Malibu. Feel Free to give me a call at 310.486.1002 (USA) or email me at homes@endrebarath.com or visit one of my websites at https://www.endrebarath.com Your Pet Friendly Realtor. I contribute a portion of my commission to Local Animal Rescue Organizations ...
read moreThe Marina Del Rey, CA Condominium Market Report for January 2011 & Economic Commentary by Endre Barath, Jr.
The Marina Del Rey, CA Condominium Market Report for January 2011 & Economic Commentary by Endre Barath, Jr. The Marina Del Rey, CA Condominium Market Report for January 2011. Before I go and give you this market report I would like to let you know, just in case you have not been keeping up with the news. Two of the nation’s largest mortgage lenders have raised their minimum required credit score by approximately 20 points. What does this mean to you? The answer is as follows: 1. it will be harder to get a loan, 2. it will be more expensive to get a loan, and 3. most importantly it will eliminate potential buyers to step back into the market. What will the long term effect be? Unfortunately, this will delay the housing market’s ability to rebound faster. The long term effect will be that unemployment rates will be affected as well. Real Estate provides many other industries with work. So now you understand the bad news as a potential buyer this will allow you to continue to purchase at the reasonable prices you have been accustomed to in the past two years. The key will be as long as interest rates remain low, you can take advantage of the better affordability of Condominiums as well as Single Family Residences. This of course is beneficial to the buyer as well as the seller who has owned their home for a longer period of time. There were 151 Active Listings on the Market in Marina Del Rey, CA. There were 24 Condominiums accepting Backup Offers, as well as 24 were Pending. Not so bad for the beginning of the year. There were 2 properties on Hold Status generally an indication of a Short Sale. There were 21 Properties that Sold for the month of January. If this trend continues we will need more properties on the market to sell. If you are a consumer who is considering buying or selling a home, investment real estate, vacation homes, or beach properties in Southern California, Los Angeles, Century City, Westwood, West Hollywood, Beverly Hills, Culver City, Marina Del Rey, Venice or Malibu. Feel Free to give me a call at 310.486.1002 (USA) or email me at homes@endrebarath.com or visit one of my websites at https://www.endrebarath.com Your Pet Friendly Realtor. I contribute a portion of my commission to Local Animal Rescue Organizations...
read moreThe Playa Del Rey, CA Condominium Market Report for January 2011 & Economic Commentary by Endre Barath, Jr.
The Playa Del Rey, CA Condominium Market Report for January 2011 & Economic Commentary by Endre Barath, Jr. The Playa Del Rey, CA Condominium Market Report for January 2011. I was asked by some of my clients wondering why I have not included it previously. I did not really have a good answer, in light of the fact that Playa Del Rey is a small Beach community next to Marina Del Rey and adjacent to Playa Vista. So now you will be able to read the Condominium Market report about this great community as well. Before I go and give you this market report I would like to let you know, just in case you have not been keeping up with the news. Two of the nation’s largest mortgage lenders have raised their minimum required credit score by approximately 20 points. What does this mean to you? The answer is as follows: 1. it will be harder to get a loan, 2. it will be more expensive to get a loan, and 3. most importantly it will eliminate potential buyers to step back into the market. What will the long term effect be? Unfortunately, this will delay the housing market’s ability to rebound faster. The long term effect will be that unemployment rates will be affected as well. Real Estate provides many other industries with work. So now you understand the bad news as a potential buyer this will allow you to continue to purchase at the reasonable prices you have been accustomed to in the past two years. The key will be as long as interest rates remain low, you can take advantage of the better affordability of Condominiums as well as Single Family Residences. This of course is beneficial to the buyer as well as the seller who has owned their home for a longer period of time. There were 53 Active Listings on the Market in Playa Del Rey, CA. There were 8 Condominiums accepting Backup Offers, as well as 5 were Pending. Not so bad for the beginning of the year. One property was on Hold Status generally an indication of a Short Sale. There were 7 Properties that Sold for the month of January. These numbers almost mirror the Playa Vista January Market activity. If you are a consumer who is considering buying or selling a home, investment real estate, vacation homes, or beach properties in Southern California, Los Angeles, Century City, Westwood, West Hollywood, Beverly Hills, Culver City, Marina Del Rey, Venice or Malibu. Feel Free to give me a call at 310.486.1002 (USA) or email me at homes@endrebarath.com or visit one of my websites at https://www.endrebarath.com Your Pet Friendly Realtor. I contribute a portion of my commission to Local Animal Rescue Organizations ...
read moreThe Playa Vista, CA Condominium Market Report for January 2011 & Economic Commentary by Endre Barath, Jr.
The Playa Vista, CA Condominium Market Report for January 2011 & Economic Commentary by Endre Barath, Jr. The Playa Vista, CA Condominium Market Report for January 2011. Before I go and give you this market report I would like to let you know, just in case you have not been keeping up with the news. Two of the nation’s largest mortgage lenders have raised their minimum required credit score by approximately 20 points. What does this mean to you? The answer is: 1. it will be harder to get a loan, 2. it will be more expensive to get a loan, and 3. most importantly it will eliminate potential buyers to step back into the market. The long term effect: this will delay the housing market’s ability to rebound faster. The long term effect will be that unemployment rates will be affected as well. Real Estate provides many other industries with work. So now you understand the bad news as a potential buyer this will allow you to continue to purchase at the reasonable prices you have been accustomed to in the past two years. The key will be as long as interest rates remain low, you can take advantage of the better affordability of Condominiums as well as Single Family Residences. There were 39 Active Listings on the Market in Playa Vista, CA. There were 12 Condominiums accepting Backup Offers, as well as 7 were Pending. Not so bad for the beginning of the year. One property was on Hold Status generally an indication of a Short Sale. There were 7 Properties that Sold for the month of January. All in all this looks like a good start for the year. In spite of the concerns I mentioned in the beginning. Real Estate Sales will improve provided the economy keeps improving and the government limits their desire to want to eliminate the mortgage interest deduction. If you are a consumer who is considering buying or selling a home, investment real estate, vacation homes, or beach properties in Southern California, Los Angeles, Century City, Westwood, West Hollywood, Beverly Hills, Culver City, Marina Del Rey, Venice or Malibu. Feel Free to give me a call at 310.486.1002 (USA) or email me at homes@endrebarath.com or visit one of my websites at https://www.endrebarath.com Your Pet Friendly Realtor. I contribute a portion of my commission to Local Animal Rescue Organizations ...
read morePink’s Hot Dogs a Hollywood Destination Place!
Pink’s Hot Dogs a Hollywood Destination Place! Pink’s Hot Dogs a Hollywood Destination Place! Pink’s is not just a hot dog shack. This is a Los Angeles Landmark. If it is not a historic landmark it should be. This non typical hot dog place has been featured on the News, and many Cooking Shows as well as movies. At this hot dog place you can run into the ‘who is who’ of Hollywood. From A-list stars to supporting staff of the Hollywood elite. The beauty of it is, you will even have time to chat. The lines are always long, does not matter if you go early in the morning or late at night. Long gone are the days of Paul and Betty Pink selling 10c hot dogs from a cart (1939). Now there are over 24 different varieties of hotdogs available, named after the stars who ordered them. This change came around 1946 when Paul Pink traded in his hot dog wagon for a small building. The price has changed as well now you are going to spend from $2.80 to $3.50 depending what you order… Still it is a good deal. It has a free parking lot with an attendant. Now if you want to hobnob with the Hollywood A-list make sure you look for the Bentley’s and Rolls Royce in the parking lot. Odds are the Driver will be in the line not the Celebrity. Even though it might take you a while to stand in line, once your order is taken you will have your meal in 30 seconds that you can be sure of. So if you want to experience a good meal and visit a Hollywood landmark, go to Pink’s at the corner of Melrose Ave and La Brea Ave they are open from 9:30am to 2:00am Sun-Thursday and Fri & Sat from 9:30am to 3:00am. Bring Cash; they do not take credit cards. The actual address is 709 North La Brea Ave http://www.pinkshollywood.com If you are a consumer who is considering buying or selling a home, investment real estate, vacation homes, or beach properties in Southern California, Los Angeles, Century City, Westwood, West Hollywood, Beverly Hills, Culver City, Marina Del Rey, Venice or Malibu. Feel Free to give me a call at 310.486.1002 (USA) or email me at homes@endrebarath.com or visit one of my websites at https://www.endrebarath.com Your Pet Friendly Realtor. I contribute a portion of my commission to Local Animal Rescue Organizations ...
read moreWe have submitted an Offer on this home, why do we not get a response?
We have submitted an Offer on this home, why do we not get a response? I have been asked this question by many buyers: We have submitted an Offer on this home, why do we not get a response? I find this question a difficult one to answer, in light of the fact, that we have included a copy of the earnest money check, the proof of funds and it was a reasonable offer taking into consideration the condition of the home. Also it is disappointing, since we took into consideration the active, pending as well as the recently sold homes in the neighborhood. The Offer was not a ‘low ball offer’ I called the Agent; got voice mail, and then I sent the Agent an e-mail and did not get a response. Waited a few hours and repeated the above two again without results. The following day tried again without results. The explanation could be varied: •1. The Seller has another offer which is better in price and or terms. •2. The Seller might have an “all cash offer” with little or no contingencies. •3. The Seller changed his mind and does not want to sell. •4. The Listing Agent had a personal emergency and was unable to get to responding to our offer. •5. The Listing Agent is not doing this full time and the other occupation takes priority. A few days later I get a voice mail in my office, the seller has accepted another offer. Now I have the challenging task explaining to the buyer the message. This raises a whole serious of other questions which I will address at another time. I am just grateful this does not happen often. If you are a consumer who is considering buying or selling a home, investment real estate, vacation homes, or beach properties in Southern California, Los Angeles, Century City, Westwood, West Hollywood, Beverly Hills, Culver City, Marina Del Rey, Venice or Malibu. Feel Free to give me a call at 310.486.1002 (USA) or email me at homes@endrebarath.com or visit one of my websites at https://www.endrebarath.com Your Pet Friendly Realtor. I contribute a portion of my commission to Local Animal Rescue Organizations ...
read moreWe are ready to make an offer: How much did the Seller pay for this Property?
We are ready to make an offer: How much did the Seller pay for this Property?Just recently I was asked by a first time buyer this question. Great question if you are curious or if you want to know if the seller is underwater due to higher loan to current value. If you know the answer to this question you can make a better offer and get an understanding of what to potentially expect as far as upcoming negotiations. I also think the next question that needs to be answered at the same time is what are the recent sales comparable to the subject property we are about to make an offer. I also find it is important to see what the active inventory is as well. Keeping in mind, when this question was raised, my buyers already had the answer to the Active as well as the Sold properties. What I had to educate them on is: The answer is a nice to know information; it is not the impetus to submit a low ball offer just because the seller is going to have a profit on the transaction. The primary focus is what the true value of the home? The Offer should be a fair offer to all that way the Buyer & the Seller will be happy and it assures a smooth negotiation with the ultimate goal of the transaction closing. If you are a consumer who is considering buying or selling a home, investment real estate, vacation homes, or beach properties in Southern California, Los Angeles, Century City, Westwood, West Hollywood, Beverly Hills, Culver City, Marina Del Rey, Venice or Malibu. Feel Free to give me a call at 310.486.1002 (USA) or email me at homes@endrebarath.com or visit one of my websites at https://www.endrebarath.com Your Pet Friendly Realtor. I contribute a portion of my commission to Local Animal Rescue Organizations ...
read moreWhy Do I need to be Pre-Approved before you start showing me homes?
Why Do I need to be Pre-Approved before you start showing me homes? There are many first time buyers out there who have asked me this question. I constantly have to educate them about this question. My answer is very clear to the buyers: •1. The issue is I want them to be sure, that they are in a position to ‘buy‘ the particular home they found and like. •2. I want to be sure that they are searching in the price point they can actually buy. •3. I do not want them to miss out on a home they loved, but were unable to get because they did not have the Pre-Approval Letter to submit with their offer. •4. Then my own selfish reason: I do not want to waste my time and gas with lookers who cannot qualify to buy anything due to bad credit or the bank’s more restrictive underwriting rules. •5. Sellers and their agents do not want to accept offers from potential buyers who are not in a position to buy; hence they might miss out on a Ready & Able buyer. They will not accept an offer without Pre-Approval from a reputable lending institution. These are the most pertinent reasons why I expect a pre-approval letter from a buyer. If they do not have this, I always encourage them to do this and if they need a reputable lender I refer them to one. In the mean time I set up a search program in the Multiple Listing Service a bit higher and a bit lower in what they think is their price point; hence they can get a feel for what the market is like. How is the inventory? What they can get for the various price ranges as well as the difference between certain neighborhoods? Ultimately once the Pre-Approval is done they are better educated on the inventory and when a property comes in their price & liking we can see it and submit a solid & strong offer. If you are a consumer who is considering buying or selling a home, investment real estate, vacation homes, or beach properties in Southern California, Los Angeles, Century City, Westwood, West Hollywood, Beverly Hills, Culver City, Marina Del Rey, Venice or Malibu. Feel Free to give me a call at 310.486.1002 (USA) or email me at homes@endrebarath.com or visit one of my websites at https://www.endrebarath.com Your Pet Friendly Realtor. I contribute a portion of my commission to Local Animal Rescue Organizations ...
read moreThe Broker’s Open House After-action Report on 5330 Yamouth Ave Unit 111, Encino, CA
The Broker’s Open House After-action Report on 5330 Yamouth Ave Unit 111, Encino, CA We had an Open House for Brokers on Friday, 1/21/2011 at the condo and we served lunch as always. There were about fourteen to sixteen people that came through the property. The majority of the visitors were principals. Buyers who wanted to see the property. A couple of neighbors came in as well. One agent had her two clients with her and I believe there were two other agents looking for themselves as well. I find it very encouraging sign to see that the buyers are out aggressively looking even on Broker’s Open Houses, not just on the Traditional Sunday Public Open House times. I found it a bit surprising that so few agents came in light of the fact that we advertized that there would be lunch served. I felt that was an encouraging sign to see that many buyers out there. There have been about 8 to 10 other agents who previewed the property and a couple bought their buyers with them prior to the broker’s open house. I also wanted to show you a few pictures of the food we served. If you are a consumer who is considering buying or selling a home, investment real estate, vacation homes, or beach properties in Southern California, Los Angeles, Century City, Westwood, West Hollywood, Beverly Hills, Culver City, Marina Del Rey, Venice or Malibu. Feel Free to give me a call at 310.486.1002 (USA) or email me at homes@endrebarath.com or visit one of my websites at https://www.endrebarath.com Your Pet Friendly Realtor. I contribute a portion of my commission to Local Animal Rescue Organizations ...
read moreJust Listed Vacant Land in Hollywood Dell, near Hollywood Bowl!
Just Listed Vacant Land in Hollywood Dell, near Hollywood Bowl,!Close to Beachwood Canyon famous for the Hollywood Sign. Live among the Stars. Build your dream home. Endre Barath, Jr. (310)486-1002 Cell www.EndreBarath.com For All Your Real Estate Needs ! STATUS: Active ADDRESS: 2411 SAN MARCO DR , LOS ANGELES ,CA 90068 LP: $159,000 Add’l Photos Larger Map Aerial Map Plat Map RESIDENTIAL LAND AREA: (30) Hollywood Hills East MLS# 11-502147 MAP: 593/E2 APN: 5577-030-003 SUB: GAS: Other WATER: In Street ELECTRIC: In Street ADP: No ZONE: TELEPHONE: No TV/CABLE: No SEWER: Other APX ACREAGE: N/A VIEW: Yes STAKED: No APX LDM: APX LSZ: 7,280/VN HORSE PROP:No BONDS/ASSESSMENTS: ELEM: JRHS: SRHS: DIRECTIONS: Cahuenga to Cahuenga Terrace to San Marco REMARKS: Nice gentle upsloped lot in the very desirable Hollywood Dell neighborhood. Next to a recently built modern home. Great for a developer or someone who wants to build their dream home in a Celebrity Neighborhood. Convenient to studios, shops, restaurants and close to the city of Hollywood. Call or e-mail listing agent for a private showing. GAS: Other WATER: In Street ELECTRIC: In Street TOPOGRAPHY: Uphill,Varied SITE: Canyon,Hillside,Varied STREET: Asphalt ON FILE: None VIEW TYPE: Canyon,City Lights WATERFRONT: None SEC: FIN: Cash To New Loan SEWER: Other POSS: DISC: As Is SZONE: Other OCC/SHOW: Call LA 1 SALE TYPE: Standard LP: $159,000 DOM: 1 LD: 01/21/2011 SP: SSP: BLOG Y/N: Yes LP/SF: OLP: $159,000 CD: SD: WD: AVM Y/N: Yes SP/SF: LA1: Endre Barath LA1#: 310-281-3655 LA1 CELL: 310-486-1002 LA1 OTHER: LA2: LA2#: LA2 CELL: LA2 OTHER: LA1 EMAIL: homes@endrebarath.com LA2 EMAIL: LO1: Coldwell Banker-BH South LO1#: 310-273-3113 LA1 FAX#: 310-278-4934 LO2: LO2#: LA2 FAX#: CSO: 4% LT: ER LBA: BAC: Yes LS: No EO: No PROBATE: Broker/Agent does not guarantee the accuracy of the square footage, lot size or other information concerning the conditions or features of the property provided by the seller or obtained from Public Records or other sources. Buyer is advised to independently verify the accuracy of all information through personal inspection and with appropriate professionals. Copyright © 2011 by Combined L.A./Westside MLS, Inc. Information deemed reliable but not guaranteed. Prepared by: Endre Barath DRE# 01238708 If you are a consumer who is considering buying or selling a home, investment real estate, vacation homes, or beach properties in Southern California, Los Angeles, Century City, Westwood, West Hollywood, Beverly Hills, Culver City, Marina Del Rey, Venice or Malibu. Feel Free to give me a call at 310.486.1002 (USA) or email me at homes@endrebarath.com or visit one of my websites at https://www.endrebarath.com Your Pet Friendly Realtor. I contribute a portion of my commission to Local Animal Rescue Organizations...
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