Blog
Playa Vista, CA Market Report for March 2009
Even though it is April 1st, 2009, this is not an April Fools Joke. These are the actual numbers for the Month of March 2009. As I reported last month there has been an increase of Active Listings compared to the January numbers. The trend continues. Currently there are now 60 Active Listings compared to 55 Actives Listings in February. This is an increase of by 9.2% (see last months Market Report http://activerain.com/blogsview/960983/Playa-Vista-CA-Market-Report-for-February-2009 ) As you see the inventory is continuing to get larger. Now let us focus on the number of properties that are in Escrow and the ones that closed: Currently there are 5 accepting back up offers vs. last month there were 4 and in January only 2. As you can see this trend is on the upswing as well. These are buyers who have not removed their contingencies yet and the seller’s agents are still accepting other offers as back up. There are 7 Pending properties this is a drop compared to last month which was an extraordinary increase from 3 pending to 10 pending. I attribute this to lenders continuing to tighten up the Approval Process for new loans. It takes longer to get approved; hence fewer buyers have been able to remove their Contingencies. Now let us look at how the sales numbers turned out. Actual Closings increased. The last two months it has been a steady 3 sales every month. For the Month of March 2009 we had 4 sales. Again the number is a small increase, but had I done a percentage it would have appeared as a significant increase. Keep in mind these are real numbers and as you can see the growth is continuing. Should you like sales information/data about any other part of Los Angeles, please feel free to contact me directly. 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, 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 ...
read moreBreaking News: Free Home Mortgage Protection Program from C.A.R.
Breaking News: C.A.R. is launching a Home Mortgage Protection Program! The Best part it is Free. James Liptak, the 2009 President of C.A.R (California Association of Realtors) has sent out an e-mail blast, notifying the membership. Effective this Thursday April 2,2009 C.A.R. will launch a new program designed to give peace of mind to the First Time Home Buyers, who are afraid or are hesitating to enter the housing market, because of concerns of potential job loss. This is fantastic news. Through the C.A.R. Housing Affordability Fund Mortgage Protection Program (C.A.R.H.A.F.MPP), first time home buyers who get laid off may be eligible to receive up to $1500 per month for up to six months to help make their mortgage payments. Even Co-buyers may participate in the program at a reduce monthly benefit of $750 per month. To qualify for the Mortgage Protection Program, the applicants must be: •1. Be a first-time home buyer-someone who has not owned a home in the past three years. •2. Open Escrow April 2, 2009 or later and close Escrow on or before December 31, 2009 •3. Use a California REALTOR in the transaction. •4. Purchase the property in California •5. Be a W-2 employee (can not be self-employed or military personnel) This is truly innovative. There is no cost to the Realtor or the clients to participate in this program.. So who said you can not get something for nothing.So what is the hidden item? There is none. 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, 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 ...
read moreWhy do you need Title Insurance? Here are 10 Reasons
Many first time buyers ask, why do we need Title Insurance? What are the benefits? In California it is customary that the seller pays the Title Insurance and if the buyer has a loan, all the buyer has to do is to pay the Loan Tie-in fee’s portions. Here are ten very important reasons, why you need Title Insurance: Title Insurance will protect you against a loss on your home or land due to a title defect. A deed or mortgage in the chain of title may be a forgery. Claims arise due to marital status and validity of divorces. A deed or mortgage may have been made by an under-aged or incompetent person. A deed or mortgage made under an expired power of attorney may be void. A deed or mortgage may have been made by a person with the same name as the owner. A child born after the execution of a will may have interest in the property. Title transferred by an heir may be subject to a federal estate tax lien. Title Insurance reimburses you for the amount of your covered loss. A title policy is paid in full by the first premium for as long as you own the property. I will come up with another ten more reasons next week. These ten reasons alone should be enough incentive to get Title insurance. If you are not convinced ask any Escrow Officer or Attorney what their advice would be. The answer will be unanimous, this is not where you would want to take a short cut in one of your biggest investments of your life. 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, 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 ...
read moreHave you heard of the UNICEF’s Tap Water Project? Are you aware it is “World Water Week”?
In case you did not know this, I would like to share this with you. I just found out last night. UNICEF is having what is called the Tap Project. Many local restaurants are participating in this event. This has started on March 22nd and it is continuing until March 28th 2009. Customarily when you go to a restaurant, they bring a glass of Tap Water to your table, usually this water in free. The UNICEF’s Tap Project is asking every patron to give $1 or more for the tap water. For every dollar raised, a child without access to safe water will have clean, drinkable water for 40 days. All funds raised support UNICEF’s efforts to bring clean and potable water to millions of children around the world. These Restaurants are participating in this worth while cause in Beverly Hills. Gyu-Kaku 163 N La Cienega Boulevard, Beverly Hills, CA Montage Hotel 225 N Canon Dr. Beverly Hills, CA Porta Via 425 N Canon Dr. Beverly Hills, CA Coupa Café 419 N Canon Dr. Beverly Hills, CA If you would like to learn more about the Tap Project please visit www.tapproject.org In the meantime do not cook tonight or for the next few days take at least one day and join the participating restaurants in the Tap Project. Thank you for your support. If you are interested in other parts of Los Angeles let me know and I will try to give you the list if they are participating. I will try to post as many nearby city’s participating Restaurants. When you make a reservation as if they are participating One hundred percent of your donation will go to UNICEF. 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, 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 ...
read morePart Two of “Clarifying the $8000 Tax Credit for First Time Home Buyers”
It has been two weeks since I posted my first clarification. After numerous readings of the abbreviated as well as the detailed versions, some items were still not clear to everyone.I have received calls as well as numerous e-mails. Hence, I am writing this post, with the intent to help those individuals, who did not have time to read the documents and/or call the National Association of Realtors for clarification. The ‘Home’ must be the principal residence of the buyer. It can be a Single Family Residence, a Condominium, a CO-OP or a townhouse. The home must be located in the United States. Vacation homes and rental properties are excluded. It does not matter if it is a new construction or not the “purchase date” is the date of close of Escrow. In other words the date you occupy the home must be before December 1, 2009. The question a lot of people were wondering why November 30th,2009 the Government anticipated of running out of funds by that date. Interestingly there is also Income Limits for Single Filers as well as Married Filers. What this translates to is, if you are single and making over $75,000 and couple making over $150,000 the credit is proportionately reduced as the income approaches the limit of $95,000 and $170,000 respectively. In conclusion there is also a clause: if the home is sold prior to three years of ownership, the tax credit must be repaid. Period! This is designed to prevent flipping homes in order to get the tax credit. Should you have any more questions feel free to contact me directly or via comments below? 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, 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 ...
read moreFirst Annual “Woofstock 90210” what a success!
The first annual “Woofstock 90210” is in the history books. Here it was on a perfect sunny 70+ degree weather on Sunday, Bill Crowe of “Pets 90210” and Cindy Brynan & Barbara Rosenman from the Beverly Hills Community Service Department organized a very successful event. The place Roxbury Park’s Wiggly Field at 471 South Roxbury Dr. and Olympic Blvd.,Beverly Hills, CA 90212.The time was from 11:00am to 4:00pm. This event was organized for the dogs, by these three wonderful people for ‘ your dogs’. Dogs and their “parents” were at the first annual dog event. There was a dog parade. For a small sign up fee the dogs were judged for best costume, cutes, “looks-most-like its-owner” and many other categories. It would not be Beverly Hills and land of the movie industry, if a talent agency would not have been present, hence “LaPAWS” an animal talent agency was present as well. So next time you watch a new movie, please check out the credits and see if that “newly discovered critter” is represented by the LaPAWS talent agency. There was also one of the producers of Cesar Millan’s “Dog Whisperer” (TV show) so concerned pet owners, who have issue, could present their problems and potentially get on this TV show as well. (Notice I said pet owners, Cesar Millan is very clear, usually the issue is with the owner not with the pet) This was truly a fun filled event, music was by the “Muttly Crew” and even City of Beverly Hills Police K9 Unit was present and they did a great demonstration what these four legged Policemen can do. The most important goal was of course to ADOPT a pet. LA Animal Services in conjunction with Bill Crowe of “Pets 90210” and the scores of nameless Volunteers were introducing pets to the visitors and they were trying to save lives. So if you would like to save a life please visit http://www.LAAnimalServices.com. Take a look at some of these helpless dogs who are looking for a home. If you want to adopt any one of them please get in touch with me and we will make it happen. 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, 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 ...
read moreUS Banking problem explained by one of my Clients(caution humor)
One of my clients e-mailed me this explanation of our Banking Problem: Young Joe moved to Arizona and bought a donkey from a farmer for $100.00. The farmer agreed to deliver the donekey the next day.The next day he drove up and said, “..sorry son, but I have some bad news, the donkey died”Joe replied, “Well, then just give me my money back.” The farmer said, “..I can not do that. I went and spent it already..” Joe said “..OK, then, just bring me the dead donkey…” The farmer was wondering “what are you gonna do with him?” Joe said ” I am going to raffle him off” The farmer said “…you can not raffle off a dead doneky!” Joe said, “Shure I can. I just won’t tell anybody that he is dead”. A month later the farmer met up with Joe and asked, “what happened with the raffle?” Joe saie “..I raffled him off…I sold 500 tickets at two dollars a piece and made a profit of $898.00” The farmer asked “did not any one complain?” Joe said ” Just the guy who won. So I gave him his two dollars Back..” Joe now works for Wall Street. I guess this makes a perfect explanation. ...
read moreA new way to look for employment: The Beverly Hills way of finding a job!
What I am about to tell you is not standard around the country and that is why Beverly Hills, CA and Los Angeles, CA have a” reputation” in this country and around the world. On the first Tuesday of Every Month the Crescent Hotel in Beverly Hills, http://www.losangeles.com/crescent-hotel ) A classic Rodeo Drive Jewel in Beverly Hills is holding a : are you ready for this “A Pink Slip Martini night”. Now what does this mean? People who received the infamous “pink slip” from their employer can come to the Crescent Hotel drink Martini’s and mix with “recruiters”, “head hunters” and “employers”. Now I do not want to sound skeptical but drinking Martini’s and Looking for employment? Somehow I find this not a good Recipe for a job hunt. Call me old fashioned. Call me a not hip, but I just do not see this is a constructive way to get employment. Maybe that is why I am a Realtor, and not someone who is looking for a job. I remember when I used to be out “looking” (my bachelor days) going to hotel bars in Boston. Let me be clear I was not looking for a job. So in conclusion if you are looking for employment or just want to mingle with unemployed, cool, hip beautiful people, do not forget the First Tuesday of the month. Be there or be square. On the other hand: 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, 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 ...
read moreMarina Del Rey Condominium Market Report for February 2009
I am so amazed how quickly February went by. Part of it I attribute, since I have been very busy with buyers as well as sellers trying to find out what their property is worth in today’ market. Not taking into consideration that the month is three days shorter then the others. It is very interesting to see now that the numbers are in. For the month of February there were 185 active condominium listings on the market that is a 9.7% increase of the inventory over January. There were 13 condominiums accepting back up offers and 15 condominiums that were pending that is a 27% increase over the January numbers. That is just amazing. There was a decline in the Sold numbers. For the month of February there were only 7 Condominiums Sold. This is a huge decline by about 63%. (See last months Report: http://Activerain.com/blogsview/913102/Marina-Del-Rey-Condominium-Market-Report-for-January -2009 ) The Pending numbers indicate March & April will have a huge upswing in the sales, since that is the indicator of what will happen in the next 30 to 60 days. Should you like sales information/data about any other part of Los Angeles, please feel free to contact me directly. 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, 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 ...
read moreCentury City,CA Real Estate Market Report for February 2009
Here we are February is in the history books. It went by so fast. OK in all fairness it is two to three days shorter then the rest of the months. So let us see how the Century City Condo Market fared. Let us compare it to January (http://activerain.com/blogsview/910700/Century-City-Condominium-Market-Report-for-January-2009 ) There are some noteworthy changes in the Century City Real Estate Market. For the month of February: there were 295 Active Listings, 20 accepting back up offers and 10 Pending i.e.: solid in Escrow. Also it is very interesting, that 14 Properties Sold in the Month of February. The statistics show, that there has been an 8.8% drop in the activity we call accepting back up as well as pending in comparison to the January numbers. Also noteworthy is that there has been a 9 % increase in the sold properties. We could rationalize, that there were fewer days in the month and that made some difference. I actually attribute the fact that Los Angeles has many Micro Markets. I have been an opponent of the Media stating generalizations about the Los Angeles Real Estate Market. Here is living proof, please visit my Playa Vista Market Report and you will see that the numbers have increased month over month, where here they have mixed results. ( http://activerain.com/blogsview/960983/Playa-Vista-CA-Market-Report-for-February-2009 ) Real Estate is Local has been and always will be. Should you like sales information/data about any other part of Los Angeles, please feel free to contact me directly. 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, 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 ...
read more