463 Wynola Street , Pacific Palisades – $3,265,000

 

 

 

 

 

 

 

This is a magnificent brand new home one bock from the bluffs. Hardwood floors, 3 full levels, There is a guest room and maid’s quarters with 1 second kitchen. The third level is a basement level with a media room, possible gymn and 3rd laundry room. There is a bedroom on the main level. All bedrooms are large and have baths and walk in closets. The main floor has an office, formal dining room with wine cooler and built in china cabinets, family room with fireplace and a spectacular huge kitchen. The top floor has the master suite and 3 more huge bedrooms. There are balconies and decks and a roof top deck with views of the ocean and mountains. The kitchen has a built in Thermador fridge, 2 sinks and a center island. The quality throughout looks wonderful and shows great attention to detail. In summary: 6 bedrooms, 7.5 baths, 3 laundry rooms, 2 kitchens, media room, office, gymn, large back yard, roof top deck with ocean view, balconies, decks, sprinkler system, HVAC w 3 zones. Average price per square foot is $424.

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.

Buyers and Commission in Real Estate

Important information about the real estate commission for residential properties. The buyer do not pay any commission. The commission is provided by the seller of an average of 5-6%. the commission is split between the agent representing the buyer and agent representing the seller.

Nice Luxury Home for Sale in Hidden Hills

25085 ASHLEY RIDGE RD , HIDDEN HILLS ,CA 91302

A true one of a kind Hidden Hills Estate. In the best part of Hidden Hills, this home has it all. 7 bdrms in the main house, 2 full staff apts, a private guest quarters, a lake, a gorgeous ballroom with full bar, an arcade, tennis court, wine cellar, and much more…a perfect entertainers paradise.

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.

Even in LA We Must Winterize

 

In Southern California it’s easier to forget to winterize your home each year, because it doesn’t always seem like winter here. If you live in Minnesota, you kind of have to remember, because the cold won’t let you forget! Here, though, it’s always spring-like, and so it doesn’t seem as important to do our yearly maintenance checks for our home.

 Of course, yearly maintenance for our homes is important, as it’s always a good idea to protect your largest investments, and your home is definitely a large investment.

One more area of attention that many homeowners overlook is their water heater.

How many of us flush our water heater every year, as recommended? Not many I’m guessing.

So, having a hot water heater break during the summer is inconvenient, but having one break during the winter is much more uncomfortable. A cold shower when it is 100 degrees outside is invigorating. A cold shower when it is 45 dedgrees outside can be almost life changing. Unless you are a proud member of the Polar Bear Club. I’m not a fan of cold water.

So we suggest that annual preventative maintenance be done to ensure you don’t become an “honorary” member of the Polar Bear Club.

Get your water heater flushed to remove sediment. Have the pipes and gas line checked for corrosion or loose fittings. And if you have not already done so, have it properly strapped to meet earthquake codes. And while we have earthquakes involved in this conversation, go ahead and have a seismic gas shutoff valve installed on your gas meter. This will shut off the gas in the event there is an earthquake, but it is easily re-set as well.

Once you have done these things, you will have a level of comfort knowing that you have done what you could to prevent what might be merely inconvenient, but could also be catastrophic.

Home-loan Buyer! Mortgage rates drop to record lows

Need to refinance or thinking about buying and woundering what kind of loan you can get? Check out this article…

Posted via web from philipperodrigue’s posterous

How’s the Real Estate Market in Tarzana

Well, the first question I would ask is…in what price range? Tarzana actually has more than one “market”.

 The market in Tarzana is relatively strong in the “under one million dollar” range. But on the other hand,  if you look at the inventory for single family homes over 2 million dollars, there are 19 homes active which have been on the market for over 100 days and only one home that has sold in the last 6 months. The house that sold was an unfinished new construction home that really doesn’t figure into the comps.

 Now, if we look at the market for homes between $1 to $2 million range. We have 43 homes active, 15 are currently in escrow and 31 sold in the last 6 months. The average price is $1,354,390 with an average of $310 per square feet.

 The inventory of homes available between $700,000 and $1 million is a bit lower. We have 18 active, 23 are in escrow and 35 sold in the last 6 months. With an average price of $838,029 and an approximate price of $274 per square feet. 

 For homes priced below $700,000, we have a strong demand which reduces the average days on market to 31 days. We currently have 21 active, 41 are in escrow and 73 sold in the last 6 months. This is a very healthy market.

 Now, keep in mind that those price per square feet are approximate. The price varies depending on your location in Tarzana. Homes in the hills as oppose to homes located north of Ventura blvd or the 101 freeway.

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.

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