Whether you are an absentee owner, relocating to Los Angeles, or even a local, navigating the maze that is the Los Angeles real estate market can be an intimidating prospect; so many options, so many laws, so much paperwork.
Jane, a transplanted Brit, knows what it is like to move to an immense city like Los Angeles and make it your home. Here you will find the necessary tools to make the right choices as you look to buy or sell property in Los Angeles - community descriptions, useful contact information, access to the latest listings, and much more.
Make Sure Your Homeowner Dues are Current
Keep Current on your Homeowner Dues A recent news story tells of National Guard commander who served in Iraq last year received an urgent call from his wife while there telling him that their Homeowner Association had foreclosed on their paid for $300.000 home because she had missed two payments. Yes, only two payments. And, someone taking advantage of this bought the home for the amount of the... continue...
Reverse Mortgages Now Less Costly
Reverse Mortgages are Less Costly If you are 62 or older and interested in a reverse mortgage you now have more choices as upfront fees have come down substantially and some lenders are eliminating them totally and even offering to pay some of the mortgage insurance premium fees up front. A reverse mortgage allows homeowners to use the home’s equity while still living in their home. The amount... continue...
California Median Home Prices Up 21%
According to the California Association of Realtors the California median home price rose 21% but sales of existing homes dropped by 8%. The median price in April 2010 was $306,230 up from $253,110 the year before and up 1.5% over March 2010′s median of $301,790. The annual sale of homes was down below the 500,000 mark for the first time in 19 months, primarily due to buyers delaying closing... continue...
Buying a Home in Los Angeles – California Home Buyers Tax Credit Will Run Out Soon
If you are thinking of buying a home in Los Angeles now is the time to buy. The California first time home buyers tax credit is due to run out soon. The new home buyers credit will last longer. If you have tried to file and found the fax lines busy the Franchise Tax Board suggest trying outside hours when the lines may be less congested. Make sure that all the pages go through and keep a copy... continue...
When Buying a Home in Los Angeles Hold Off on Your Spending
If you are buying a home in Los Angeles and you have been approved for a mortgage based on your credit, be aware that, effective June 1, 2010, your lender may order another full credit screening. This is to ensure that you have not taken out, or even shopped for additional loans – a new car, furniture, and new credit card, etc. If the new credit screening finds that you have, the loan will be... continue...
Los Angeles Could Stop Paying for Driveway and Sidewalk Repairs
More signs that the City of Los Angeles is broke. They are considering ending the policy of repairing driveways and sidewalks. City to Stop Repairing Sidewalks The burden will then fall on homeowners and with lawsuits totaling anywhere from $3 to $5 million a year in defense of trips and falls, homeowners who do not take care of these hazards after a warning could also be liable. Insurance companies... continue...
Los Angeles First-Time Homebuyers Beware of Hidden Costs
There was an interesting article in the Los Angeles Times today which spurred me to write about the hidden costs of homeownership. Los Angeles first-time home buyers may not be aware of what is involved over and above the amount they have in mind after their lender presents them with based on the PITI, principal, interest, taxes and insurance. There are many other costs to consider and Los Angeles... continue...
Mortgage Debt Forgiveness Will Not be Taxed in California
Governor Schwarzenegger has signed into law a “mortgage debt tax relief provision” which will shelter Californians who have lost their homes in this down market. Part of bill SB 401, the provision will allow individuals to exclude up to $500,000 on the forgiven debt, or $250,000 for married individuals filing separately. This covers only principal residences from 2009 to 2012. Homeowners... continue...
