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The after action report of 9.02.10 Day Celebrations in Beverly Hills, CA
The after action report of 9.02.10 Day Celebrations in Beverly Hills, CA The after action report of 9.02.10 Day Celebrations in Beverly Hills, CA. As some of you know Diane and I were guests of Kenquest.com. They graciously gave us seats at the VIP tables. They were the Platinum sponsors of this event. They are also the main sponsors/ benefactors of Pets90210 of Beverly Hills a great Animal Rescue Organization in Beverly Hills, CA of course. The MC of the event left early and the Mayor of Beverly Hills took over and did a great job. Ironically, due to his Persian accent he was even more entertaining then he meant to be. Wolfgang Puck of Spago fame came on stage and was prepared to “interpret” for the Mayor. The” who is who” of the city were there. Almost all the restaurants from Beverly Hills were providing tasting samples. I have to mention specifically Spago, Bouchon and Crustacean of the many Restaurants that had some memorable food to sample. Some of the wineries of CA such as Chalon, Domaine Chandon and Miner Family Vineyard were pouring very generously as well. Thanks to this event, now Beverly Hills, CA has a Song. Yes your guess was correct, it is called 90210. Written by Hal David of “Raindrops keep fallin’ On My head fame” and the World Premier was performed by Marilyn McCoo and Billy Davis, Jr. In case you missed my blog post and Crag Rutman’s earlier, I have enclosed a link to read more about it as well as a link to the Beverly Hills Courier to see the Marilyn McCoo and Billy Davis, Jr. performance. http://activerain.com/blogsview/1764741/the-city-of-beverly-hills-ca-will-celebrate-9-02-10-day http://activerain.com/blogsview/1833738/it-s-beverly-hills-90210-day– http://www.bhcourier.com/article/Local_News/Local_News/90210_Beverly_Hills_Performed_By_Marilyn_McCoo_and_Billy_Davis_Jr/71110 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 morePlaya Vista, CA Condominium Market Report for August 2010
Playa Vista, CA Condominium Market Report for August 2010 Well here we are September is upon us and we need to look at how the Real Estate Market activity was for August in Playa Vista. The other two micro markets that I watch the numbers spiked dramatically upward, hence I was very surprised when I saw the numbers here. The Active Condominium listings dropped from the previous month’s 43 to 38. This is a surprise since the past four months the inventory has been creeping upwards. The pending and accepting backup offers had a huge increase compared to the previous month. July had a combined totally of 9 listing in pending and backup offer status. August had a phenomenal increase of 12 accepting backup offers and 10 solid pending with contingencies removed. The sold number has decreased from the previous month of 10 to 6 for August. Part of it I suspect loan document delays, hence more pending and fewer sold. We must look at both of these numbers, before we create false negative or false positive news. 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...
read moreMarina Del Rey Condominium Market Report for Month of August, 2010
Marina Del Rey Condominium Market Report for Month of August, 2010 Well here we are it is September 2, 2010; the months just keep flying by. We have had a busy year up to now. Many pundits had given contradictory information and made headlines in many of the National and Local News outlets. I have been saying all along Real Estate is local. One needs to look at the trends nationally as well as locally. I monitor three micro pockets of the West Los Angeles Real Estate Market very closely and find that they are all different month to month. So with that let us look how the Marina Del Rey Condominium sales activity fared in August. The Trend for the past four months has been consistent in one particular area that is the inventory has been increasing month over month. No exception this month either. Currently there are 169 Condominiums on the Market for sale in Marina Del Rey. I am so amazed at the number of properties that are in Escrow, I did not expect this if I just listened to what was said in the Media. There are 23 Condominiums in Escrow accepting Backup Offers i.e.: where the buyers have not removed their contingencies yet. This compared to the previous month of 12 is just amazing. Last month there were 10 Properties pending this month 38 Properties are pending where the buyers have removed their contingencies. I attribute this increase to buyers recognizing, that the values are good and the interest rates are phenomenal. Hence they perceive that it is worth getting off the fence and step into the market is a wise move on their part. There were 4 Properties on Hold, which is an indication of a Short Sale transaction. This has been consistently the same for the past few months. Now let us look at the most important number the actual sold properties. This increased as well from the previous month of 24 Sales to 26 for the month of August. Overall this is fantastic, without the Tax incentives, we still had a very positive month. 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 moreCentury City/Westwood, CA Condominium Market Report for August, 2010
Century City/Westwood, CA Condominium Market Report for August, 2010 The strength of the Real Estate Market is a great deal affected by the overall confidence of the consumer as well as the news they are inundated with via the news and now the internet. There are trends that must be looked at and noted in the decision making process whether to buy or sell. So here we are the month of September has started. Now let us look at how the Condominium Market fared for the month of August in Century City/Westwood. As I blogged last month that we need to watch the trends, I would like to add not only do we need to watch it nationally but more importantly locally. I have noticed that in the past four months the listing inventory has been spiraling up. Four months ago we had 277 Active listings, and then we went to 293, then 302. Well for the month of August we are at 317 active listings on the market. Properties on Hold are hovering about the same 4/4/4 and for August the count is at 5. This is an indication of how many short sales there are in Escrow. For the volume of activity this is a small amount. Nevertheless these numbers need to be monitored as well. Accepting Backup offers for the month of August was at 19 which is an increase of 7 over the previous month. Pending properties had the largest increase from the previous month from 10 to 48. This immediately tells me that there were lending issues, appraisal issues taking place during the month of August. So not surprisingly the Sold for the month of August dropped to 19 from the previous month’s number of 30. I anticipate an increase for the month of September. Hopefully the media will look at these numbers and not make a headline of “huge drop in sales for the month of August” rather look at the pending properties. 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...
read moreThe Rosenthal Malibu Winery is a True Estate in Malibu, CA.
The Rosenthal Malibu Winery is a True Estate in Malibu, CA. The Rosenthal Malibu Winery is a True Estate in Malibu, CA. I had the distinct pleasure of being on a guided tour by the owner and his wife many years ago. They have over 200 acres of land with many different varietal grapes growing on their estate. If you are not one of the lucky few, do not despair, they have a tasting room on 26023 Pacific Coast Highway, Malibu, CA. http://www.rosenthalestatewines.com They have a great selection of reds and whites. One of my favorite Chardonnay is their Rosenthal Estate Chardonnay. I never had a bad vintage. Generally the price generally runs somewhere from $20-$30 per bottle, depending on the year. The reason I love it is, because it never has that heavy oak taste, rather it is more a steely taste. It always has a fresh lingering finish and is still complex. The reds can get a bit pricey, my two all time favorites are the Rosenthal Estate Cabernet Sauvignon and the Rosenthal Estate Meritage again the Price could be anywhere from $30-$80 per bottle depending on the vintage. If you are driving along the Pacific Coast Highway do stop in and at least try to sample their wine. Once you do I am confident you will become a real fan. Here are a couple of new fans and friend of ours Jim & Robin from Boston, MA. 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...
read moreHas anyone worked with ABSREO from Chicago,IL?
Has anyone worked with ABSREO from Chicago, IL? I do not want to sound skeptical, at the same time I do not want to throw away $295 either, hence the question. They claim to be looking for a team of Realtors across the country and promise to get REO listings & BPO’s. This all sounds good so the red flags go up in my head. Since we have such a great network on Active Rain, I figured I pose the question. Look forward to your good or bad experiences. Thank you for your input.
read moreA Tragic Journey from a Short Sale to Foreclosure.
I was involved in a Tragic Journey from a Short Sale to Foreclosure. I represented the buyer and another agent represented the seller. The seller had an Attorney, who had a successful track record of negotiating short sales. The history: We have written at least eight or ten FHA Offers, without getting any accepted. We lost out to Conventional Loan buyers, Cash Buyers and buyers who had large down payments. Finally May 2009 we received the “good news”….” Congratulations your offer was accepted”. Then the journey began. We continued searching, writing offers with no results. The communications between agents, principals were way too many to mention here. They all started with “any news?” and all ended with “just be patient”. Fast forward to Friday the Thirteenth, August 2010. Another one of those questions from the buyer. The Seller’s Agent broke the news “… I was about to call you…” How did this happen? The Sellers accepted the offer, the paperwork submitted at least four to five times during a period of nine months. Then a Short Sale Negotiator assigned from the Lender, attorney back and forth communication and the Result: the lender wanted $20,000.00 from the seller. The lender would not accept $10,000.00 from seller and $10,000.00 from buyer. They wanted it all from the seller. May 2010 Foreclosure postponed, June 2010 Foreclosure postponed again. End of July the sellers go away for a few days. They return home, the locks have been changed, their belonging rummaged thru…. Who is the winner here? No one wins; all are tragically in the short end of this transaction. The sellers have no home, they have their credit ruined. The buyers waited a year and a half, now are totally devastated and will rent until the wounds will heal. The lenders have to spend money for upkeep, security, electricity, water, taxes, insurance, vandalism etc. The cost around $2000.00 per month and ironically it takes about three to four months to sell a home. Once in Escrow another month to two months before the buyer receives the keys and the financial loss to the bank: approximately $10,000.00. The agents worked for free for about a year and a half. Tell me what you think of this turn of events on an unhappy story. Do we need to overhaul how decisions are made? What do we need to prevent this from happening again? 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 moreCentury City, CA Condominium Market Report for July 2010
Century City, CA Condominium Market Report for July 2010 As we reflect on how the Real Estate Condominium Market Activity fared for the month of July, in Century City, CA; I am noticing a universal trend in the markets which I watch very closely. The inventory is increasing and the number of properties which are in Escrow decreasing. This is partially due to the Tax Credit being eliminated as well as we are in the middle of summer and people are not as focused on buying homes at the moment. Now with that said, let us look at the actual numbers. There were 302 Active Condominiums listed in Century City/Westwood CA. in comparison to the previous month this is an increase of about 9.1per cent. As I mentioned previously I find this a good phenomenon, since this will keep sellers realistic in their pricing and give choices to buyers, which is the foundation of healthy real estate market. Currently there are 27 properties in Escrow which consist of 12 properties where the buyers have not removed their contingencies and 5 are on hold (classic sign of a Short sale) and 10 are solidly pending waiting for the closing date. Compared to the previous month of 55 properties being in Escrow, this is a drop of 49 percent, still above the national average of 75% drop. During the month of July there were 30 Sales this is a decrease from 36 the previous month. This is a modest drop of 8.3%. Overall I see that buyers are out and they see that the value is there and the interest rates combined with affordability make it an ideal time to buy a Condominium in the Century City/Westwood area. 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 moreMarina Del Rey, Condominium Market Report for July 2010
Marina Del Rey, Condominium Market Report for July 2010 As we all are aware about the uncertainty of the pace of the economic recovery, everyone is looking at the Real Estate Activity as a Gage. Hence I find that more savvy buyers are stepping into the market. A clear indication is Investors are considering mortgage-backed securities as a relatively safe choice hence you see that the interest rates are at a 50 year low. Now with that said let’s see how the Condominium Activity for the month of July fared in Marina Del Rey, CA. During the month of July we had a 9.1% increase of Active Inventory over June, buyers have now a better selection to choose from and this also keeps Sellers from listing their Units at inflated prices. I find it is much healthier to have selections to choose from. That way everyone wins. There has been a large decrease in the total properties that were in Escrow in June vs. July. The ones accepting back-up offers are relatively unchanged 12 in June and 13 in July. The difference is noteworthy in the Pending Escrows, where the buyers removed their contingencies. During the month of June there were 40 Pending vs. for the month of July there were 10 Pending. The Sold numbers have decreased from 29 in June to 24 in July; this is an 8.2% decrease. Not as bad as the pundits have predicted. Nevertheless these are numbers we have to watch closely. So in conclusion the Tax Incentive elimination had a small effect on the activity, not as large as the media tried to make it out, at least in the Marina Del Rey, CA luxury condominium market. 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 morePlaya Vista Condominium Market Report for July 2010
Playa Vista Condominium Market Report for July 2010 People like to say that the “dog days of summer” are here. Well it depends on how you interpret the information as well as what your outlook on the future is. I find it ironic most of the so called experts do not look at current data, now with that said I would like to give you the actual numbers for the month of July and you determine how we fared. This month there were 43 active Condominiums listed for sale in Playa Vista. This just for the record an 8.8 per cent increase in the inventory. As I said many times the larger the inventory the better the selection as well as the list price tends to be more reasonable. If you listen to the news you would have been told that there was a 75% drop in Pending Escrows. My answer has always been let us look at the Real Estate market by Micro Markets just as there are over 2000 wineries in Napa, CA not all are selling by identical pace nor by identical price. The Playa Vista Condominium community is a luxury condominium life style. We call it a resort style living, as if it was a private community in the middle of Los Angeles proper. Well as it turns out last month there were a total of 9 condominiums which were pending and Accepting Backup offers. This is a drop of 52% month over month, this obviously must be watched closely and see how it develops. Closed transactions were down as well. During the month of June there were 14 Sales vs. the month of July only had 10 Closings. In spite of these numbers, I see a great deal of activity. I see buyers are out. Particularly I am working with quite a few foreign buyers, who tell me that the opportunities are great here and they are taking advantage of the buying opportunities here. 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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