The real deal about Los Angeles real estate.....really!

New Law Regarding HOA Documents (AB 771) may have saved us $1,500.00 and maybe my short sale transaction!

My law school studies are certainly keeping me on my toes.  Having to do legal research is something that I can almost do in my sleep!

I have a short sale that I've been hired to facilitate, and things have gone well.  I was able to get the short sale written approval in 34 days after the purchase agreement was signed between buyer and seller.

Things are/were going great.

Then the attempted hijacking happened.

This is for a very nice condominium that is selling for just under $500,000.  The cost of the HOA docs from the HOA is $495.00.

Oh, but wait, the HOA sent my escrow officer a statement showing that there are approximatley $1,500 in "fees" that go along with that in addition to the $495.00.

What?!!  There is NO way the bank is going to pay for that and we can't work that into the HUD, NO WAY!

Well, in my opinion, this is nothing but extortion, so I did some research and found that there was a new law just passed on January 1st of this year that makes this practice illegal.  It is Assembly Bill 771.

-- AB 771, a C.A.R.-sponsored bill, which requires a homeowner association (HOA), upon written request, to give an estimate of the fee for providing a prospective buyer with the governing documents of the common interest development and other required HOA disclosures.  The bill also specifies that only fees for the required documents may be charged when such documents are provided, effectively prohibiting any “bundling” of fees for other documents with these fees.  In compliance with the bill, C.A.R. has released a revised C.A.R. standard form (Homeowner Association Information Request) detailing which documents are required, and requiring the provider to disclose the fees that will be charged for the documents before they are provided. The seller of a CID must complete this form and transmit it to the prospective purchaser along with the required documents.  This will eliminate any uncertainty for the prospective purchaser as to exactly which documents are being provided and the precise fees being charged for those documents.

We will be presenting the HOA with this new law and hopefully they will comply and adjust their demand for an additional $1,500 in fees (that is just outrageous!)

If you'd like to read the bill in it's entirety, you can do so by clicking here:

http://www.leginfo.ca.gov/pub/11-12/bill/asm/ab_0751-0800/ab_771_bill_20110523_amended_asm_v95.html

By the way, I have a great new group here on ActiveRain that examines both actual and hypothetical legal issues each week in a fun "What-If" scenario.  If you'd like to join the group and participate, you can click on the group below.  Some GREAT discussions going on here and a really good way to keep your real estate legal chops up!

http://activerain.com/groups/legalscenarios

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The Healthy Realtor:  Fast and Easy Changes for a Healthy 2012

Want to try and eat a little healthier this year, but looking for some quick and easy tips that you can implement into your life without too much drama?

Then here ya go!

2012 is the year of health:  both physically and mentally.  In our whirlwinding economy and your efforts to churn and burn to stay ahead, sometimes you need to stop for a moment and take care of the body so that you can stay on track toward your goals.

I'll be posting a series of blogs from "Ralph The Healthy Realtor", and we can go on this journey together.  I care very much about my family, my friends and business associates and want to see you all healthy, happy, and living the most fulfilling, productive lives you possibly can.

And since time is not a plentiful commodity for most, here are some small, quick thing you can do to live "Hot Spot" Healthy:

• use extra onions and garlic when recipes call for them as a base
• use extra virgin olive oil instead of cheap cooking oil
• steam vegetables for a short time, instead of a longer time
• put extra herbs on your salads
• eat fresh raw nuts instead of chips or salted peanuts
• put smaller portions on your plate
• grind the salt cellar only once instead of several times
• drink a smaller glass of wine instead of two or more large ones
• use raw honey instead of sugar as a sweetener
• fill your plate with more vegetables and less carbs and protein
• sit and rest for five to ten minutes after eating, instead of getting up immediately
• eat slowly and chew your food thoroughly
• have small amounts of quality dark chocolate, instead of large amounts of cheap chocolate or candy
• allow yourself your chosen “poison” (e.g., donuts, cappuccino, ice cream) from time to time so you don't feel deprived, but eat healthily most of the time

THIS IS YOUR LIFE........................Make It Beautiful

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Ralph's Weekly Legal What-If Scenarios:  Personal Property - "What Happened To My Appliances?!"

Each Monday, I'm going to post a "What If" Scenario that presents a legal issue in a real estate hypothetical situation.

Each Sunday, either the correct legal answer (or most likely legal resolution) to the situation will be posted.

These are great opportunities to keep your real estate legal chops honed and tuned as a real estate professional.  And I'm sure there will be some interesting discussions going on related to these hypothetical situations.  Some of you may also have had identical situations in the past that will bring some interesting light to the answers.

Here is this week's scenario:

A buyer sets an appointment with their agent to view a home.  For this property showing, the seller is present during the showing.

The buyer really loves the home due to there being some very unique features about the property.  One in particular is the kitchen, which includes some custom-built cabinetry that encases appliances that were a special depth for these cabinets, and were customized so that the front of the appliances match the cabinets. With the acception of the dishwasher, the range and refrigerator are not permanently attached to the property.

The buyer loves the property and makes an offer, which gets accepted.  The transaction closes and on the day the buyer takes possession, they are horrified to see that the refrigerator is gone.

The buyer immediately calls their agent and lets them know about the missing refrigerator.  The buyer's agent calls the listing agent to let them know about the issue, and the listing agent states that no personal property was requested and/or written into the contract, therefore the seller kept the range and refrigerator.

Who is right?  Who is wrong?  What will most likely be the outcome should the buyer pursue the issue through litigation?

Post your definition of what the answer is, and the correct answer along with the relative laws that apply will be posted on Sunday.

Good luck!

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I just made another micro loan in Kiva.org to a Co-Op of women in Senegal - Pay It Forward

The solidarity group Yeggo was created at the same time as the Banc Villageois.
It is made up of 15 women who all come from the same village and the same group.
To show their affinity, they have given the group the name “agreement” because of their good relationships.

Madame Anthia, the leader of this group who is standing to the right in the photo, is 43 years old, married and a mother.
She is the mother of three children but does not have any of them in her care. She has been a member of the Banc Villageois since it was created.
She is a retail merchant who sells various products.
With her new loan she will buy four sacks of millet, three sacks of peanuts, two sacks of corn and two packs of soap.
Her profits will allow her to contribute to meeting the family’s needs by buying rice, oil, clothing, medicine, etc.

In a group loan, each member of the group receives an individual loan, but is part of a group of individuals. The group is there to provide support to the members and provides a system of peer pressure in repayments of loans. However, groups may or may not be formally bound by a group guarantee. In cases where there is a group guarantee, the members of the group are responsible for paying back the loans of their fellow group member if someone is delinquent or defaults.

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Los Angeles 4-1-1 - Come to a FREE staged reading for a new TV Pilot - "26 Miles" - Oct. 10th - Los Angeles, CA

Here's your opportunity to see a live staged reading of a new TV Pilot called "26 Miles".  Monday, October 10th, 7pm, at the Writers Guild of America in Los Angeles, CA.

It is FREE, but reservations are required and seating is limited.

Writers Guild of America, West - 7000 W. 3rd St., 2nd floor, Multi-Purpose Room, Los Angeles, CA 90048.

Parking entrance is on Blackburn, one block south of 3rd St.

CALL 323-782-4589 FOR RESERVATIONS and more information.

Starring:  Casey Adler, Dwight Bacquie, John Benitz, Ivar Brogger, Anita Finlay, Michael King, Tyler Mann, Barbara Niles, Rachel Parker, and Zack Tiegen

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Playing doubles in a tennis tournament this weekend - with tennis elbow!!

For those of you who may not know, I've been playing tennis since I was about 12 years old.  I played all 3 years in high school varsity, and then I played one year NCAA Collegiate tennis.

I continue to play USTA events and other tournaments from time to time.

I've been working on my game with one of the best tennis pros around, Pat Pucinelli.

He has helped bring me closer to my goals of getting my game back to a 5.0 level of play.

My dilemma is I've come down with a case of tennis elbow, probably from the weight lifting I've been doing, and I've got to play this weekend in a tournament.

It's a doubles tournament, so I don't want to let my partner down.

If any of you out there have heard of a quick remedy or treatment for tennis elbow, that would be helpful!

I know it's not something that goes away quickly, but if there's something I can do to get through this weekend, that would be great.

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If you are looking for something to do this Saturday night, why not get your party on at the Chinatown Summer Nights Festival in Los Angeles, California!

The Chinatown Summer Nights Festival will be held Saturday, August 27, 2011 from 5 pm-midnight in Chinatown between the Central and West Plaza located between Broadway and Yale Street in Los Angeles, California.

The best part of this awesome event is that it is free to enter!

There will be delicious food, live music, outdoor video projectors, Chinese beer and so much more.

Chinatown Summer Nights is a major hot spot for those who want to party the night away in the City of Angels!

For more information regarding the Chinatown Summer Nights please visit the link provided: http://www.chinatownsummernights.com/

Sounds like a great way to party on a Saturday night!

If you are a big Tim Burton fan, then you will not want to miss out on the Tim Burton’s Free Film Screening this Friday night in Los Angeles, California!

The Tim Burton’s Free Film Screening will be held this Friday, August, 26 2011 at the Los Angeles County Museum of Art from 8 pm-10pm located at 5905 Wilshire Boulevard in the Los Angeles area.

The screening will be held in the Dorothy Collins Brown Amphitheater in the park behind the museum.

The Tim Burton’s Free Film Screening will be featuring “Alice in Wonderland” starring Johnny Depp, Helena Bonham Carter, Anne Hathaway and more!

You can even bring your own chairs and have a picnic in the park. How cool is that!

For more information regarding the Tim Burton’s Free Film Screening please visit the link provided: http://www.lacma.org/event/alice-wonderland-0

Sounds like a great way to enjoy the great outdoors!

If you are a big Hollywood buff and love the history that made Hollywood famous, then a day trip to the Hollywood Museum in Los Angeles, California is just what the doctor ordered!

The Hollywood Museum is located in the historic Max Factor Building located at 1660 N. Highland Avenue in the City of Angels.

The Hollywood Museum houses over 10,000 Hollywood treasures and has the most extensive collection of Hollywood memorabilia in the world.

This really cool museum has four floors of Hollywood memorabilia exhibits for every one of all ages to enjoy and step back into time, so they too are able get a glimpse of a more glamorous time in classic Hollywood, California!

For more information regarding the Hollywood Museum please visit the link provided: http://www.thehollywoodmuseum.com/

Sounds like a great way to spend the day to me!

If you are in the mood for delicious cuisine and not sure where to go, then a trip to the Pacific Dining Car in Los Angeles, California is a must!

The Pacific Dining Car is located at 1310 W. 6^th Street in Los Angeles, California.

The Pacific Dining Car has been around since 1921 and owned by Fred and Grace Cook. Their vision was to have their restaurant stand for quality not quantity.

Now with the restaurant being owned by four generations of Cooks, the name and restaurant still represents quality and fine dining at its finest.

The Pacific Dining Car offers so many exquisite entrées that will tantalize your palate and tickle your taste buds!

The best part is that if you get a hankering for a nice juicy steak, in the middle night, the Pacific Dining Car is opened 24 hours.

For more information regarding the Pacific Dining Car please visit the link provided: http://www.pacificdiningcar.com/index.html

Sounds like a great way to enjoy a delicious meal in style!