618 N Beverly Dr, Beverly Hills – $6,499,000

 

 

 

 

 

 

Magical 4+4 on a spectacular lot in Beverly Hills. Over 35,000 sq ft of flat park-like grnds w/expansive lawns, sprklng pl & E/W tennis crt. Trad’l 2 stry hm also features office space, gst studio w/full ba & wlk-in clost, FDR & LVR w/fireplc & hi ceils, newr grmet kit w/lrg brkfst area, granite counters, center island, stainless appliancencs & picture window overlookng gardens & pl. Original character & integrity maintnd: crwn mldngs, hrdwd flrs, doors & hardwr, bar w/glming wood walls. A truly special property. Price per square foot is $1,828 and price per square foot for the lot is $180.

Foreclosure – 5177 Avenida Hacienta, Tarzana – $1,285,200

 

 

 

 

 

 

 

Beautiful Mediterranean Estate! Privately gated with courtyard fountain. Spacious over 5, 100 sq. ft home offering 6 Bedrooms, 5.5 Bathrooms, grand foyer with stone floors and custom wrought iron staircase, elegant living room with fireplace, formal dining room with butlers pantry, family room, upstairs loft area, gourmet granite center island kitchen, downstairs maids room and bonus room. Master suite with fireplace, sitting room, walking closet, luxury bath and viewing balcony. The private backyard offers covered patio, large manicured lawn, fire pit, barbeque center, custom stone pool and spa with slide and waterfall. Just needs some TLC! Price per square foot is $249 and price per square foot for the lot is $77.

Foreclosure – 5362 Geyser Ave, Tarzana – $529,900

 

 

 

 

 

 

 

South of the Blvd, great Tarzana location. Close to everything! Open floor plan w/3 bedrooms, 2 baths and almost 1500sq/ft of living space. Upgraded kitchen. Nice rear yard w/pool.Sold in As-Is condition. price per square foot is $355 and price per square foot for the lot is $88

Foreclosure – 4878 Brewster Dr , Tarzana – $1,300,000

 

 

 

 

 

 

4 br, 3 Ba Beautiful gated home on very large lot. Stunning home recently remodeled. Open living with high ceilings, hardwood floors, nice sized kitchen with center island and granite counters. 4th Bedroom has separate entrance. Spacious and grassy yard with pool, spa and views. Price per square foot is $368 and price per square foot for lot is $41.

10706 Victory Blvd #107, North Hollywood – $205,000

NOT A SHORT SALE OR REO. This is a cozy 2 bedroom, 2 bathroom condominium in North Hollywood. Washer & dryer hook-ups in unit available. EQ ins included in low HOA. Prime location just a step away from Universal Studios.

24341 Rolling View Rd , HIDDEN HILLS – $5,950,000

Magnificent Estate on almost 3 acres. This renovated home home boasts 5 bedrooms, wine room, a guest house, pool / hot tub w/ waterfalls, a tennis court, courtyards, rolling lawns, and mature specimen trees, all on a promontory in the quietest part of Hidden Hills. Don’t miss it.

Renting Vs. Buying: Do The Math

Why is it good to buy vs. rent? Let’s give an example:

* Average home prices decrease 20% in the next two years.
* Interest rate goes up 1% from 2009 to 2011.

1st Scenario:

1. John is renting at $2500 per month. He wants to buy a $600,000 home but wants to wait because he believes the market will decrease 20% in the next two years. John wants to buy a house with the value being at $480,000 (20% decreases). John has the intention of staying at least 10 years in his house and getting a 10 year interest only loan.

Example:

John waits 2 years before buying a house. Interest rate goes up 1% in the next 2 years.
He buys the house at $480,000 with a 7.5% interest rate.

Expenses:

Rent: $2500 x 12 = $30,000 x 2 = $60,000 (No tax write-off for 2 years).

Difference between getting a loan at 6.5% and 7.5% interest only for 10 years is 17% of the purchase price. So, if John buys the house at $480,000 x 17% = $81,600. John ends up paying $81,600 in a period of 10 year which comes to $680 more per month. So, $60,000 (rent) + $81,600 (7.5% interest rate) + $480,000 = $621,600.

John ends up paying $21,600 more.

2nd Scenario:

1. John decides to buy now. The inventory in his area is pretty high and some houses have been on the market for a while. John’s agent manages to negotiate with the other listing agent and seller and close the deal with an offer 10% below the asking price.

Example:

John buys the house now at $540,000 (10% below the asking price $600,000).Gets the interest rate at 6.5% with a 10 year interest only.

Advantages:

John gets his house at a better rate. He also gets the tax write off with the interest rate and property taxes. He also gets the full freedom of owning his property.

Tax Write-off VS Renting:

John makes $100,000 per year with an income tax bracket of 38%. John is paying $38,000 in taxes per year with no right offs.

If he buys a house today at $540,000 with an interest rate of 6.5% on a 10 year interest only, John puts a 20% down payment to get a loan of $432,000.

Property tax is 1.25% in California, so, $540,000 x 1.25% = $6,750 ($562.50 per month).

Payments per month for mortgage: $2,340 ($28,080 per year).

So, $28,080 (Interest Only per year) + 6,750(Property tax per year) = $34,830

Tax Write-off:

$100,000 – $34,830 = $65,170 x 38% (Income tax bracket) = $24, 764.60.

So, by owning a house john save $13,235.40 per year ($38,000 – $24,764.60) or $1,102.95 per month with tax write-off.

Best Hiking and Mountain Biking in Tarzana

Hey Hikers and Mountain Bikers, how about Tarzana? This is my favorite spot for hiking in Tarzana:

…take Reseda Blvd drive all the way south, until it ends. That is where the fun begins. First of all, make sure you bring lots of water because it can get really hot in the summer.

There are plenty of trails for all levels! If you want to take it easy and enjoy the view with a nice wide trail…make sure you use the fire road trail which spreads from Topanga Canyon all the way to Encino!

For those who want a little challenge, you can use the side trail which becomes pretty steep from time to time. Make sure you wear some good hiking shoes and bring plenty of sunscreen.

For the mountain bikers…this park is a dream land! Just watch the video…

Foreclosure report spurs housing recovery debate

Posted via web from philipperodrigue’s posterous

Beautiful townhome for sale in Sherman oaks, CA

Beautiful Townhouse in Sherman Oaks! Gorgeous 3 story with direct access to your 2 spot parking side by side. This amazing unit is in move in condition. Bright and open with private patio, dark hardwood floors, wine cooler, with a nice cozy fireplace. Nice master bedroom with walking closet and high ceilings. MUST SEE!

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