Blog
Buyers Beware When Considering Buying Foreclosures
Buyers Beware When Considering Buying Foreclosures! All first time home buyers should be very cautious when considering buying a Bank Foreclosed Property(REO). Many people get excited that they want to hit the jackpot by buying a Foreclosed home. Needless to say there are some truly great opportunities out there. At the same time common sense should prevail. Do the research about the neighborhood, schools and market prices. Do inspect the home; banks are not required to let you know about defects. Have your financing ready. Be prepared that the banks have priced the home generally a great deal under market value; hence it will not be a buyer’s market when it comes to the property. Be prepared to be in a multiple offer situation. Banks do not negotiate with Counter Offers. Submit your best and final offer in the beginning, then just hope for the best that you will get the property. If there are few foreclosed properties in the neighborhood do not think you will get the property for pennies on the dollar, be happy that you may get it for less then market value. The goal should be that you like the home and you want to live there not to hit the Jackpot. Do not buy impulsively, after all this will still be one of your largest dollar value purchases in your lifetime. Contact a Realtor, someone who is seasoned and can walk you through the challenges of the purchase. Keep in mind with these tips you will come out as a winner. 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 the month of November 2009
Here we have the Condominium Market Report for Playa Vista, CA for the month of November 2009.We are in the final stretch of 2009, what an interesting year it has been. I will do a very detailed report at the end of the year with charts and numbers for visual appeal. Monthly Statistics – Condo – November 2009 Sales Volume No. Area Nov 2008 Nov 2009 Oct 2009 2009 To Date 2008 To Date SP/LP SP/OLP 39 Playa Vista $1,808,338 $3,255,300 $4,577,156 $39,570,755 $37,718,110 97.81% 97.97% Sales Volume No. Area Nov 2008 Nov 2009 Oct 2009 2009 To Date 2008 To Date SP/LP SP/OLP All Selected Areas $1,808,338 $3,255,300 $4,577,156 $39,570,755 $37,718,110 97.81% 97.97% Median Sales Price No. Area Nov 2008 Nov 2009 Oct 2009 2009 To Date 2008 To Date 39 Playa Vista $559,338 $527,000 $480,000 $535,875 $625,000 Number of Listings and Days on Market #Sold #New #A #B #P #E #W No. Area % Mth Dom Ytd Dom % Mth Ytd Ytd Dom Mth Dom Mth Dom Mth Dom Mth Dom 39 Playa Vista 8.33 6 35 72 60 5.22 6 115 19 114 2 59 1 45 3 165 2 205 Number of Listings and Days on Market #Sold #New #A #B #P #E #W No. Area % Mth Dom Ytd Dom % Mth Ytd Ytd Dom Mth Dom Mth Dom Mth Dom Mth Dom All Selected Areas 8.33 6 35 72 60 5.22 6 115 19 114 2 59 1 45 3 165 2 205 -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 EndreBarath@TheMLS.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 November 2009
The Condominium Market Report for the month of November in Century City is very telling. Please look at the numbers closely. The trend is very interesting. Next month I will do a full comparision month to month year over year. Be on the look out for it. I will include charts as well for eye appeal. Monthly Statistics – Condo – November 2009 Sales Volume No. Area Nov 2008 Nov 2009 Oct 2009 2009 To Date 2008 To Date SP/LP SP/OLP 5 Westwood – Century City $17,418,648 $33,370,612 $22,288,936 $237,732,975 $306,362,113 93.87% 85.40% Sales Volume No. Area Nov 2008 Nov 2009 Oct 2009 2009 To Date 2008 To Date SP/LP SP/OLP All Selected Areas $17,418,648 $33,370,612 $22,288,936 $237,732,975 $306,362,113 93.87% 85.40% Median Sales Price No. Area Nov 2008 Nov 2009 Oct 2009 2009 To Date 2008 To Date 5 Westwood – Century City $762,260 $677,500 $610,000 $627,500 $680,000 Number of Listings and Days on Market #Sold #New #A #B #P #E #W No. Area % Mth Dom Ytd Dom % Mth Ytd Ytd Dom Mth Dom Mth Dom Mth Dom Mth Dom 5 Westwood – Centu 11.04 34 97 308 87 5.91 45 761 337 159 24 93 25 74 33 178 13 152 Number of Listings and Days on Market #Sold #New #A #B #P #E #W No. Area % Mth Dom Ytd Dom % Mth Ytd Ytd Dom Mth Dom Mth Dom Mth Dom Mth Dom All Selected Areas 11.04 34 97 308 87 5.91 45 761 337 159 24 93 25 74 33 178 13 152 -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 EndreBarath@TheMLS.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,CA Condominium Market Report for November 2009
Here is the Condominium Market Report for Marina Del Rey, CA for the month of November 2009.We are approaching the end of the year, planning for next year is heavy on my mind. I am also going to do a year to year month to month comparison at the beginning of January be on the look out, it will have charts and data. Should be interesting. In the mean time enjoy the current numbers. Monthly Statistics – Condo – November 2009 Sales Volume No. Area Nov 2008 Nov 2009 Oct 2009 2009 To Date 2008 To Date SP/LP SP/OLP 12 Marina Del Rey $7,585,900 $9,004,600 $13,126,600 $117,376,278 $148,184,819 96.19% 88.93% Sales Volume No. Area Nov 2008 Nov 2009 Oct 2009 2009 To Date 2008 To Date SP/LP SP/OLP All Selected Areas $7,585,900 $9,004,600 $13,126,600 $117,376,278 $148,184,819 96.19% 88.93% Median Sales Price No. Area Nov 2008 Nov 2009 Oct 2009 2009 To Date 2008 To Date 12 Marina Del Rey $709,950 $645,000 $560,000 $571,300 $738,000 Number of Listings and Days on Market #Sold #New #A #B #P #E #W No. Area % Mth Dom Ytd Dom % Mth Ytd Ytd Dom Mth Dom Mth Dom Mth Dom Mth Dom 12 Marina Del Rey 6.99 13 119 186 95 7.52 31 412 176 142 8 98 14 53 22 196 15 184 Number of Listings and Days on Market #Sold #New #A #B #P #E #W No. Area % Mth Dom Ytd Dom % Mth Ytd Ytd Dom Mth Dom Mth Dom Mth Dom Mth Dom All Selected Areas 6.99 13 119 186 95 7.52 31 412 176 142 8 98 14 53 22 196 15 184 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 EndreBarath@TheMLS.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 moreIs Opting to Default on Your Mortgage Wrong?Outrageously Bad Economic Advice
Is opting to default on your mortgage wrong? The opinion and belief of this writers is YES, unlike Professor Brent T.White’s advice from the University of Arizona. I just read a very disturbing article in the Los Angeles Times, syndicated from the Washington Post about a Law School Professor who teaches at the University of Arizona and his disgraceful advice. This professor’s advice to the average person, who is under water in their mortgage is to’ default on their mortgage’; under the guise of writing a “new academic paper” he suggests, that you should not feel guilty about defaulting on your mortgage. He does not think it is morally wrong to do that, and goes further that the estimated 15 million US homeowners, who are underwater on their mortgages, should stiff their lenders. I am outraged at the lack of ethics, principles and morals this Law school professor has. It is bad enough that he lacks all that, what is disturbing me more, that he has a platform: The University of Arizona, which is allowing him to distribute his incendiary message to the masses under the guise of a scholarly paper. In addition to the lack of principals, he is giving bad advice to people that have limited understanding what defaulting on a mortgage will translate to their economic report card and, that a Bankruptcy will stay with them for at least ten years. There are serious consequences to borrowers who walk away from their mortgage obligations from a contractual as well as economic aspect. I suggest to anyone who has read the article I am referencing by Professor Brent T. White or just my summary or the Newspaper’s version, should be outraged and complain vehemently to the University of Arizona about the poor advice their Professor is giving 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 EndreBarath@TheMLS.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.hat you...
read morePlaya Vista Market Report for October 2009
I have been so consumed by three different transactions that I just did not have any time for the Market Report for Playa Vista for the month of October. Late as it may be, here it is. To make up for the lateness I have added the following for added value. Monthly Statistics – Condo – October 2009 Sales Volume No. Area Oct 2008 Oct 2009 Sep 2009 2009 To Date 2008 To Date SP/LP SP/OLP 39 Playa Vista $5,033,117 $3,702,156 $2,779,250 $35,440,455 $35,909,772 97.05% 94.61% Sales Volume No. Area Oct 2008 Oct 2009 Sep 2009 2009 To Date 2008 To Date SP/LP SP/OLP All Selected Areas $5,033,117 $3,702,156 $2,779,250 $35,440,455 $35,909,772 97.05% 94.61% Median Sales Price No. Area Oct 2008 Oct 2009 Sep 2009 2009 To Date 2008 To Date 39 Playa Vista $690,000 $457,500 $564,000 $535,000 $625,000 Number of Listings and Days on Market #Sold #New #A #B #P #E #W No. Area % Mth Dom Ytd Dom % Mth Ytd Ytd Dom Mth Dom Mth Dom Mth Dom Mth Dom 39 Playa Vista 12.31 8 49 65 63 4.59 5 109 31 142 8 46 5 79 7 187 0 0 Number of Listings and Days on Market #Sold #New #A #B #P #E #W No. Area % Mth Dom Ytd Dom % Mth Ytd Ytd Dom Mth Dom Mth Dom Mth Dom Mth Dom All Selected Areas 12.31 8 49 65 63 4.59 5 109 31 142 8 46 5 79 7 187 0 0 I think the numbers are very telling, I would be interested in your comments and observations. 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 EndreBarath@TheMLS.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.hat you...
read moreMarina Del Rey,CA. Condominium Market Report for October 2009
I have been so consumed by three different transactions that I just did not have any time for the Market Report for Marina Del Rey for the month of October. Late as it may be, here it is. To make up for the lateness I have added the following for added value. Let me know what you think: Monthly Statistics – Condo – October 2009 Sales Volume No. Area Oct 2008 Oct 2009 Sep 2009 2009 To Date 2008 To Date SP/LP SP/OLP 12 Marina Del Rey $15,143,000 $12,756,600 $16,359,300 $108,001,678 $140,598,919 94.35% 91.64% Sales Volume No. Area Oct 2008 Oct 2009 Sep 2009 2009 To Date 2008 To Date SP/LP SP/OLP All Selected Areas $15,143,000 $12,756,600 $16,359,300 $108,001,678 $140,598,919 94.35% 91.64% Median Sales Price No. Area Oct 2008 Oct 2009 Sep 2009 2009 To Date 2008 To Date 12 Marina Del Rey $640,000 $566,300 $555,000 $570,000 $739,900 Number of Listings and Days on Market #Sold #New #A #B #P #E #W No. Area % Mth Dom Ytd Dom % Mth Ytd Ytd Dom Mth Dom Mth Dom Mth Dom Mth Dom 12 Marina Del Rey 11.63 20 41 172 94 7.87 30 381 187 135 17 66 15 73 17 201 18 144 Number of Listings and Days on Market #Sold #New #A #B #P #E #W No. Area % Mth Dom Ytd Dom % Mth Ytd Ytd Dom Mth Dom Mth Dom Mth Dom Mth Dom All Selected Areas 11.63 20 41 172 94 7.87 30 381 187 135 17 66 15 73 17 201 18 144 I find the numbers very telling. I would be interested in your comments and input. -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 EndreBarath@TheMLS.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 moreOctober 2009 Condominium Market Report for Century City/Westwood ,CA
I have been so consumed by three different transactions, that I just did not have any time for publishing the Market Report for Century City/ Westwood for the month of October. Late as it may be here it is. To make up for the lateness I have made the following changes for added value. Let me know what you think: Monthly Statistics – Condo – October 2009 Sales Volume No. Area Oct 2008 Oct 2009 Sep 2009 2009 To Date 2008 To Date SP/LP SP/OLP 5 Westwood – Century City $40,822,452 $22,288,936 $30,308,750 $203,683,363 $288,943,465 95.46% 91.60% Sales Volume No. Area Oct 2008 Oct 2009 Sep 2009 2009 To Date 2008 To Date SP/LP SP/OLP All Selected Areas $40,822,452 $22,288,936 $30,308,750 $203,683,363 $288,943,465 95.46% 91.60% Median Sales Price No. Area Oct 2008 Oct 2009 Sep 2009 2009 To Date 2008 To Date 5 Westwood – Century City $665,000 $610,000 $645,000 $625,000 $675,000 Number of Listings and Days on Market #Sold #New #A #B #P #E #W No. Area % Mth Dom Ytd Dom % Mth Ytd Ytd Dom Mth Dom Mth Dom Mth Dom Mth Dom 5 Westwood – Centu 12.09 33 75 273 86 11.47 82 715 395 149 35 79 23 71 73 220 44 121 Number of Listings and Days on Market #Sold #New #A #B #P #E #W No. Area % Mth Dom Ytd Dom % Mth Ytd Ytd Dom Mth Dom Mth Dom Mth Dom Mth Dom All Selected Areas 12.09 33 75 273 86 11.47 82 715 395 149 35 79 23 71 73 220 44 121 I find the numbers are very interesting and telling. My first impression is the Price Drop for starters is very interesting month over month as well as year over year. Also interesting is the sales volume month over month as well as comparing it to year over year. 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 EndreBarath@TheMLS.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 moreCalifornia National Bank a Los Angeles based bank seized by Regulators
Friday night regulators seized a Los Angeles based bank, California National. No fanfare, almost hidden in the Halloween revelry. I am outraged it is not front page news. This bank is the fourth-largest bank failure this year and no one is talking about it. As soon as the regulators seized it, they sold it immediately to US Bancorp a Minneapolis based bank. How could this happen? All the tax payer money could not save this bank? I am outraged, where are the politicians? Where are the banking regulators? California National Bank with $7.8 billion in assets and $6.2 billion in deposits, again how could this be allowed? Well the answer is attributed to losses on securities issued by the giant mortgage companies Fannie Mae and Freddie Mac. As you might recall the government takeover made Fannie Mae and Freddie Mac stocks worthless. California National had $855 million in preferred shares of Fannie Mae and Freddie Mac stocks. California National bank had been working on trying to obtain money from the Treasury Department’s $700-billion financial bailout fund, but at the end of the day the Treasury Department did not come thru. How ironic is that? I look forward to your views on this subject. 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 EndreBarath@TheMLS.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 moreI have a House in Tarzana, Should I sell Now or in January??
One of my client’s contacted me today and left a voice mail and asked me: ‘…I have an investment home in Tarzana, Should I sell now or wait until January when there are more intrested buyers?…” You can imagine how interesting this voice mail was to me. I have blogged about the need to sell now vs. later. Reference: Tarzana real estate market. I have analyzed the data and wanted to share with you. There are some serious price decreases. I have enclosed some of the statistics for your review. In comparison to September 2008 and September 2009 the median Sold Price has dropped by 44%. The Inventory supply is about 14 months. What that means is a long Marketing and Sales process is what we will be facing. Reference: The question of waiting until January to market your house would be a mistake in my opinion, because the prices although are not free falling anymore, they are still decreasing. The serious buyers are still out during the holiday season. The buyers that are out there are generally not lookers; rather they are serious buyers, since the lookers are busy with the holidays. We would have a three months advantage over other sellers who would wait until January to market their home. We maybe even sell it before the end of the year, because some people need to buy for Tax purposes and others need to relocating. 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 EndreBarath@TheMLS.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 more