The real deal about real estate.....really....

Just when I thought I've seen it all, then I see this.

A friend of mine sent me this video.  I had thought that I've seen just about every stupid pet trick there was, but this is actually quite amazing.

I mean this "dance routine" lasts about 3-4 minutes!  To see a dog do something like this is actually kind of mind-blowing to see they have the capacity to remember such a long sequence.

Anyway, I though you all would enjoy:

• Los Angeles Homes For Sale
• Los Angeles Condos For Sale
• Los Angeles Townhomes For Sale

 

 

Vacant homes do not stimulate the economy........and their "ungy"

I am optimistic about all that the government and banks are doing to try and make homes and loans affordable, and make short selling a property easier for a homeowner who has no other sensible alternative.

As we all know, homes that sit vacant over time, on the simplest level, are just not attractive (or as my little neice would say, they're "ungy")

But not only are they an eye sore and a cause for depression within the neighborhoods that they are in, more importantly they do not help stimulate the economy, which is really needed right now.

A homeowner living in a home who is paying their mortgage are contributing in many ways:

• They are paying interest to the banks, who in turn invest their money in the national markets
• They are consuming goods for the home - personal property, appliances, furniture, cleaning supplies, plants, electronics, etc - and by doing this they are helping to keep the employees of all those companies employed.
• They are paying for utilities - helping keep that sector of the economy going and keeping those workers employed.
• They are homeowners, so not only did they provide a transaction for 2 real estate agents, a loan officer, an escrow officer, title officer, etc., but they will most likely need to either upgrade or relocate, which will require a transaction all over again.  This also keeps those professionals in the real estate business going.
• And very importantly, especially here in California, a homeowner pays property taxes.  This is a huge source of revenue for the state and local government to be able to fund programs and public works projects

When you help your client short sale their property to avoid a foreclosure, or when you assist your buyers in purchasing that REO, you are actually doing your local and national economy a huge favor. 

So it is vitally important that we do whatever we can as a society to keep the home ownership principal available to everyone.

Any empty house means empty pockets to many people.

• Los Angeles Homes For Sale
• Los Angeles Condos For Sale
• Los Angeles Townhomes For Sale

 

Got an accepted offer on an REO property for my buyers.....with a pleasant surprise....

We wrote a good, strategic offer for my buyers on a bank-owned REO property.  We got a counter which was do-able, and signed off.

And then, as customary, we received the bank addendum.  We read that with a fine tooth comb, and nothing that is out of the ordinary for a bank addendum.  (VERY important to read the bank addendum carefully, multiple times)

However, there was an additional addendum entitled "Notice Regarding Buyer's Right to Select Escrow Agent and/or Title Insurer"

About a year ago, the laws changed in the state of California, specifically CA AB 957 - Buyer's Choice Act -  that mandate the buyers to have the right to choose escrow and title.  I wrote a blog about this a while ago.

I was pleasantly surprised to see this addendum, and basically if the buyers want, they can choose escrow and title.

The only caviat is that if they want escrow and title, we need to fill out another C.A.R. addendum stating such and submit the seller's portion of the escrow fees.

The seller (bank) can accept these fees, reject them, or counter them.  And my assumption is that they probably compare those fees to the fees they will pay with their in-house escrow (which is very aggressive in pricing due to their economies of scale and affiliation with the bank) and title in making their decision.

As it turns out, the bank's title company is the same as our in-house title company, which is Lawyers Title, and they are one of the most reputable title companies around.  So my buyers are going with the bank's providers while at the same time not rocking the boat.

I knew about the change in laws but it was very cool to see tangible proof of those laws come to fruition first hand.

• Los Angeles Homes For Sale
• Los Angeles Condos For Sale
• Los Angeles Townhomes For Sale

 

Studio City Townhomes for sale - check out this Studio Village townhome. 

It is one of the nicest Studio City Townhomes for Sale in the area.

Studio Village is one of the most sought after complexes in Studio City. Multiple pools, multiple tennis courts, and recreation center.

New listing!

Coming on the market next week.

Ralph Gorgoglione

Los Angeles Real Estate

Richard Ruggaber / Ralph Gorgoglione | John Aaroe Group, Inc. | (818) 422-5035 11818 Moorpark St., Unit E, Studio City, CA Updated Studio Village Townhome with 2 patios, multiple pools and tennis courts, and updated kitchen. 2BR/1+1BA Townhouse offered at $366,900 Year Built 1974 Sq Footage 1,056 Bedrooms 2 Bathrooms 1 full, 1 partial Floors 2 Parking 2 Covered spaces Lot Size 2,378 sqft HOA/Maint $489 per month DESCRIPTION Charming 2 bedroom, 1.5 Bathroom two-level townhome in one of the most sought after complexes in prime Studio City, Studio Village is a meticulously maintained complex with multiple pools, multiple tennis courts, a recreation center and more. This unit has a private attached patio off living room, and another patio off dining room. It also contains a fireplace in living room, very nice wood laminate flooring, updated kitchen, walk-in closet, built-in custom closets and entertainment center. see additional photos below PROPERTY FEATURES - Central A/C - Central heat - Fireplace - Walk-in closet - Hardwood floor - Living room - Dining room - Dishwasher - Refrigerator - Stove/Oven - Microwave - Washer - Dryer - Laundry area - inside - Balcony, Deck, or Patio - Swimming pool - Jacuzzi/Whirlpool COMMUNITY FEATURES - Covered parking - Guest parking - Clubhouse - Swimming pool(s) - Sauna/Spa - Tennis court(s)   ADDITIONAL PHOTOS Front View Living Room Dining Room Kitchen Bathroom Pool Contact info: Richard Ruggaber / Ralph Gorgoglione John Aaroe Group, Inc. (818) 422-5035 For sale by agent/broker Equal Opportunity Housing Posted: May 22, 2010, 7:36pm PDT

Interest Rate Update 04/17/10

Interest rates improved this week for the most part, in spite of mixed economic news. The 30-Year Fixed Conforming Rate is under 5% again, so that is great. Below are some rates for the weekend. These rates are typical for the PURCHASE borrower will excellent credit and a sizable down payment, exclusive of FHA for the down payment.

Take a look at FHA 5/1 ARM rates below, as those rates are at 3.5% for all loans up to $729,750-this is amazing! This can be a very attractive alternative for FHA buyers.

Conventional Loans:

30 Year Fixed Conforming---$417,000 and Below: 4.875% with 1 Point

30 Year Fixed High Balance Conforming---$417,001 to $729,750: 5.125% with 1 Point

30 Year Fixed Jumbo---$729,751 to $1,000,000: 5.5% with 1 Point

5/1 ARM Jumbo---5.0% with 1 Point-amazing for Jumbo product

FHA Loans:

FHA 30 Year Fixed---$417,000 and Below: 5.0% with 1 Point

FHA 5/1 ARM---$417,000 and Below: 3.375% with 1 Point

FHA 30 Year Fixed High Balance---$417,001 to $729,750: 5.125% with 1 Point

FHA 5/1 ARM High Balance---$417,001 to $729,750: 3.375% with 1 Point

Aroma Cafe - Studio City, California - One of the best "hang out" cafes in Los Angeles

I love going to Aroma Cafe - It is where many film and television people hang out for lunch and dinner.

It's in a prime area of Studio City called Tujunga Village.

The food is GREAT.  Always fresh and eclectic. They have a turkey hummus sandwich that is outstanding.

I get the wild rice and tofu salad often.  Their wraps are very popular too.

It was originally a residential home many years ago, and it was converted to a beautiful patio cafe. 

The patio setting is unbelievably charming and has plenty of outdoor heaters when necessary (which isn't very often in LA)

It started mostly as a coffe and tea house, and then over the years their food menu grew to what it is today.

I see many celebs there - I once ran into Felicity Huffman.  As our paths crossed, she just looked up at me and smiled.

If you're ever in LA go to Aroma Cafe in Studio City, it is a must see, or in this case "must hang".......

OK, OK.

So I'm not being wordless.  I just thought this was a cool photo that my sister sent me.

It is a true representation of how to be non partisan in order to save lives!!

Republicans and Democrats please take notice and learn a little something.

Have a great day, and if it's not, then do whatever it takes to MAKE IT a great day....

Studio City Double Lot in the Silver Triangle from Ralph Gorgoglione on Vimeo.

This home is in need of renovation, but is in one of the PRIMEST areas of Studio City, south of Ventura Blvd.

Although it could be restored and made into an amazing home, it is an ideal candidate for a developer to create two seperate lots, each with new homes on an average sized lot.  The two lots combined are approximately 14,000 s.f.

Richard Ruggaber / Ralph Gorgoglione
John Aaroe Group, Inc.