Mt. Washington Is Limited In Real Estate These Days – Sellers Dream
Mt. Washington Stairway
Well breakthrough news for Mt. Washington real estate is now out for discussion. The hillside community has a limited supply of homes and is the most desired neighborhood in Northeast Los Angeles. The community has a great spirit as shown by the works of the Mt. Washington Homeowners Alliamce who strives to maintain the special value the hill offers all its residents. Houses for sale number only about 25 so the choice is not abundant as some other parts on N.E.L.A. The recent past month has shown only 6 homes sold and the same amount moving to a pending status of in escrow. The neighborhood is in demand and with inventory as low as it is the data makes it a ‘sellers’ market.
Let’s look at what is smoking in value for the best in Houses For Sale;
$619k, 3+2, 4192 Palmero, 1513 sq. ft. on a lot that is 7100 sq. ft. updated kitchen and baths with views.
$691k, 3+2, 600 West Ave. 46, 1773 sq. ft. on a lot that is 5000 sq. ft. sensational views and open floor plan.
$799k, 2+4, 620 Crane, 2705 sq. ft. on a lot that is 4210 sq. ft. has large spacious floor plan, updates,views and more.
The current price per square foot of space in the community is $302 down from $348 for the previous month. Houses for sale are remaining on the market for an average of 78 days before that ”sold’ sign is posted, providing a local Realtor is utilized. The average median price of homes is in the mid $500k range a huge drop from a few years ago.
Thinking of Mt. Washington Short-Sales that give the home buyer the edge. Well, the fact is that only a handful are on the market awaiting a qualified buyer. Need to know specifics on these few homes then act now and let me know. I am your local Realtor that resides and works specifically just the Northeast Los Angeles area. Interest rates are in the 4% vicinity and opportunity is there for the motivated and savvy home buyer. Get in touch now and don’t procastinate.
Keep in mind that your privacy is respected and be comfortable as all is confidential.
Eagle Rock Is Getting Differently Spicy
SPICY
Eagle Rock is getting spicy in the form of dance. Yes I mean dance with the sound of SALSA. The community continues to bring out differences in things to do as the venue of the town can be awesome at times. We have now gone ‘SALSA’ with lessons being given on a regular basis. The benefits are having a fun time, enhancing ones rythm, improving coordination, touching and the general workout instead of the gym. Just read on and get hip with the new venue Eagle Rock is offering to all its residents and friends.
Salsa Classes – Wednesday Evenings
By Zenergy
WEDNESDAYS
7pm to 9pm
1 hour dance lesson then practice your moves!
Cost: $5
100% goes to Friends of Buchanan Magnet Program.
Casa Princesa
4527 York Blvd (btw Ave 45 & 46)
Los Angeles 90041
So, are you ready to plunge into the exciting world of ‘salsa dancing’ and energize your spirit??? All I can say is…Go For It…
PASSION
More Eagle Rock News To Use;
A recent fact just released is that the median price of existing single-family homes in California in May was $324,430, a 23.2 percent increase compared with a median price of $263,440 in May 2009, C.A.R. reported. The May 2010 median price increased 5.9 percent compared with April’s $306,230 median price. A steady rise in values with breakthrough interest rates hovering in the 4% range.
Raphael is a local resident who knows and understands what North East Los Angeles is all about. Raphael is not only a Realtor but also a certified e-PRO which is a designation earned via rigourous training and testing in today’s technology. The factors of negotiating, merchandising, networking and marketing are what Raphael has as his mission statement to bring you the best value. So thinking Real Estate you know who to contact for quick reliable replies. Get moving for we are waiting for your questions…
Privacy and Confidentiality Is #1, You can RELAX with Raphael.
Los Feliz – Silver Lake Brings Hot Income Properties For July
Steady-Income
The communities of Los Feliz and Silver Lake – Atwater Village have three hot new ‘income’ properties just listed for sale that are worth a look. Income properties are very often a great investment for the right individual seeking a sound property that generates good monthly income for the owner. The home buyer in this area must be familiar in knowing operational cost and total income received to see what the net result is on a regular basis.
So, has your interest sparked to know the price and location?
- $385k, 3180 Casistas Avenue, duplex, bank-owned, 1300 sq. ft. living space on a 5400 sq. ft. lot with detached garage for both units.
- $569k, 1936 Mayview Drive, 1926 Spanish Duplex, Los Feliz, regular sale, 1244 sq. ft. living space on a 3920 sq. ft. lot with updates.
- $639k, 4020 Benis Street, 5-plex, regular sale, 2608 sq. ft. living space on a 10541 sq. ft. lot with updates and on-site parking.
The property in Los Feliz is a true charmer that will be quickly discovered by a selective buyer for its features and authentic spanish charm. The other two properties are in Atwater Village and are all one level with nice property layouts of the units. The 5-plex consist of two 2+1 and 3 1+1 units with updated plumbing and wood floors. Income properties are always popular in these communities because they are in trendy communities with great location regarding commuting. Great for long term investment value.
Cash Flow
As a ‘local’ Realtor a win-win transaction can be negotiated if the buyer has all financials in order and ready to make decisions. The key is to look at condition and value in the long term to capture a true assessment of what a future return can be. Presenting a complete and detailed market analysis of the immediate area within 1/4 mile is the first action that is done to benefit my investor. A practical discussion follows so that all my clients concerns are evaluated in preparation of awesome negotiations.
All client information is private – confidential…be safe and secure.
Real Estate For Home Sellers In Mt. Washington, Highland Park, Eagle Rock, Glassell Park And More Need To Know*
SOLD
The secret for Home Sellers in the present real estate market in the Highland Park, Mt. Washington, Eagle Rock, Silver Lake, Glassell Park and other Northeast Los Angeles Communities is this:
5 Tips For First-Time Sellers.
At first the task seems daunting because of today’s real estate market: You haven’t sold a home before, the market looks complex, and what worked for owners 3 or 5 years ago seems inappropriate today. Keep in mind the value of a good Realtor/e-PRO bringing you a specific detailed plan on marketing & merchandising your real estate.
What steps should you take? Here’s a baseline list to get you started. Owners have done it but remember all the legal liabilities that goes with being a home seller.
- Define Your Goal. Do you want the highest sales price — or the biggest check at closing? They’re not necessarily the same. Imagine that two homes sell for $300,000, but one owner agrees to replace the roof. The owner who sold without such costs got a bigger check at settlement. The bottom line: To have a successful sale you must have a strong negotiator in your corner that is a ‘local’ Realtor.
- Times Have Changed. Today’s real estate marketplace is radically different when compared with 5 years ago. Purchasers now use the Internet, receive seller disclosure forms, get home inspections, and are routinely represented by buyer brokers. The result is that buyers are better prepared than in the past. The ‘local’ Realtor makes the difference in many aspects in bringing value to a seller.
- Sparkle And Shine. Imagine going to a supermarket and seeing dusty fruit or aisles filled with old shelving and cans. It doesn’t happen because the grocery store knows how to present its goods. Sellers must do the same. Get rid of things you don’t want to move, organize closets and storage areas, and clean everywhere. The payoff is a higher sales price.
- Mechanics Count. Buyers expect everything to work. Home inspections are now a fact and what buyers miss home inspectors will catch. Fix things now and they won’t be an issue in the future.
- Think Broadway. When buyers see your home, it’s showtime. They want an environment where they can see themselves. Given them a show where everything is painted, arranged, and attractive, a home where the only issue is when to move in. A factor that a Realtor as an outsider is critical in giving based on trust, integrity and true service.
I am a Northeast Los Angeles Consultant that specializes in all communities of N.E.L.A. Mt. Washington, Highland Park, Glassell Park, Atwater Village, Eagle Rock and the other neighborhoods are my expertise to deliver successful results in any real estate transaction.
Thinking selling a house then let’s arrange for that free market evaluation of your property. Remember, no-obligation, no-committment is the rule. I welcome the opportunity to be of service so it’s worth your time.
All information is strictly confidential…
Breakthrough Offer For Home Buyers And Home Sellers In N.E.L.A.
Northeast Los Angeles home buyers and home sellers can now obtain an extra benefit from their ‘local’ Realtor. I, Raphael, am not a discount broker but one that does more to enhance the value of Northeast Los Angeles. I am now making this special offer to assist those presently becoming active in N.E.L.A real estate. The specified benefit will be applied during the escrow process when all calculations are detailed.
Home Seller – I understand how a home seller may appreciate an additional benefit and therefore have decided to make this special offer for the remainder of 2010.I will reimburse the home seller for the cost of a home warranty plan for one years coverage on the house to the new buyer.
Home Buyer – I will reimburse my home buyer at escrow for the cost of a one year home warranty plan. This awesome offer is available from now till the end of 2010.
I would appreciate your recommendations to those that are active in the real estate market. Drop me a simple note and I will reply quickly. Thank You
Northeast Los Angeles Real Estate Thought
Real Estate Thought
Northeast Los Angeles real estate now has delightful new market thoughts to consider. Now What, you say to yourself. I, Raphael your local Realtor, is now going to let you in on these somewhat hidden matters of real estate importance.
We are all aware, that the Federal Reserve has been buying mortgage-backed securities guaranteed by Fannie Mae and Freddie Mac since early 2009. The purchase program assisted greatly in maintaining low interest rates for home buyers. The Federal Reserved has recently announced it will end buying these securities at the end of March. The majority of analysts believe this will result in rates during the year.
In addition, the federal home buyer tax credit is also set end April 30. First-timers already buy around 49% of homes sold in N.E.L.A. A point to consider with this fact is that about half of the sales last year were short-sale or bank-owned homes.
So what does this all add up to? I see it as a point that will have an impact to first time home buyers. The home seller will be able to evaluate and make decisions on pricing and buyer requirements in a more educated manner. The purchaser that just makes it over the hump to qualify will have to get an update on their loan and amount allowed. A slight rise in the interest rates and take away the tax credit will definitely impact some currently qualified home buyers.
In my opinion, the banks will throw out a few curves in their home loan processing. The initial deposit on an offer will need to be 20% for preferred conventional loans having the best interest rates. Lastly, my belief is that the qualifying bar on credit scores will also be raised to a higher standard.
I, as your local N.E.L.A Realtor, strongly urge that a buyer shop two major lenders for comparison when seeking the best loan value. In addition, initialize an accurate home search of your desired community in Northeast Los Angeles. I have a custom program that is up to date and easy to use. You will appreciate the simple form for getting started on a ‘realistic’ home market analysis here.
As a professional Realtor, I am here to provide you the benefits of experience and knowledge in bringing you a proven advantage as buyer/seller. Don’t you agree that the impact of these changes can be ‘scary’?
Take action now and update yourself by speaking to a proven professional on the present financial happenings. Should you not have an awesome loan agent then a direct lender can be recommended to you. It is best to have all clients as knowledgeable as possible in current real estate matters for fantastic win-win transactions.
Your information is protected and always confidential.
Homes For Sale – Know Months Of Inventory
We all know, Home Buyers and Home Sellers in Northeast Los Angeles
Real Estate Research
see this ‘months of inventory’ phrase often. What exactly is it? How is it calculated? Raphael, local Realtor, will explain to benefit you in understanding the process.
The home inventory is the amount of homes for sale in a specific community and how long it would take to sell them all. A formula is used that gives the number to support current conditions of real estate in that community. I will give the basic formula so that all home buyers and home sellers can better understand. The information serves as a great value to all presently active in this sensational real estate market filled with opportunity.
To calculate Months of Inventory;
________ # Closed transactions in last 6 months ? 6 = _________ # Closed transactions per month
_________ Current number of homes for sale ? _________ Closed transactions per month = _________# Months of Inventory
If # Months of Inventory > 6 mos. = Buyer’s Market
If # Months of Inventory < 6 mos. = Seller’s Market
Now you are aware of how the ‘months of inventory’ is calculated and what it means to you as a home buyer or home seller. The fact that matters the most is that the numbers are specific to the community in question. The real estate market in Northeast Los Angeles is very different from community to community. Homes can be short-sale or bank-owned popular in one neighborhood and then the complete opposite in another neighborhood. Can you picture how this variance can affect what is going on a specific community. It is the reason you see this data mentioned so often by the media. The difference is that the media states general areas and is not bringing true benefit to you. The benefit and help is to know your specific number for the neighborhood in question.
I, as a local Realtor, can assist you with this and give you that true benefit you need as a valid reference point. I can fill in those blank spaces and advise you the way a true professional Realtor should. You probably already know that there is no obligation or committment and I am here to bring you the assistance needed to be informed. Send Raphael a note or just call for a quick response. I will supply the data per your specific needs to bring you true service and benefit.
Of course, your privacy is always respected.
Northeast Los Angeles Real Estate Home Values
N.E.L.A Realtor
Before you forget, here are the year to year value comparisons for homes sold in N.E.L.A. The main communities are detailed here to show the difference in value from 2008 V’s 2009, as reported by Dataquick Research.
90027 – Los Feliz, 119 homes sold with a value decrease of 5%.
90039 – Atwater Village, 165 homes sold with a 1% increase.
90041 – Eagle Rock, 132 homes sold with a 16% decrease.
90026 – Echo Park, 140 homes sold with a 27% decrease.
90032 – El Sereno, 236 homes sold with a 28% decrease.
90065 – Glassell Park, 299 homes sold with a 13% decrease.
90042 – Highland Park, 307 homes sold with a 18% decrease.
Raphael, your local resident Realtor, knows that the ‘scary’ news of declines is over for Northeast Los Angeles Home Sellers. The demand is growing as we begin to enter the prime buy/sell season in 2010 N.E.L.A real estate. The above comparison is a reference point from year to year but the latest introduces an exciting upcoming change. The month to month figures show how the home sales are improving with less time on the market and bright sale to list price figures.
Home sellers, must be practical and overcome a negative mindset with the assistance of a LOCAL Realtor like Raphael. It is crucial, in today’s real estate, to have an awesome Internet presence and a sensational marketing plan based on reliable pricing. The home sellers Realtor must focus on the benefits of not only what the home offers but also the neighborhood and future investment opportunity. The module has changed and it takes more than a simple market analysis of your home to ‘make it happen’.
Let Raphael be your guide and assist you in the sale of your N.E.L.A home. A home sale is a MAJOR financial move so integrity, knowledge, negotiation and sincerity are key factors. Listen to what Raphael offers, is it not worth a little of your time when making such a decision for you and your family…
Your privacy is always respected. Contact Raphael today…
Latest Highland Park Income Property For Sale
Would you like to enjoy the benefits of owning income property in Highland
Rental Income
Park?
The month of February has brought two properties for sale that can provide good income for a savvy real estate investor. Looking at the rental market in N.E.L.A shows that demand is there for units that are maintained and affordable.
One property is a duplex located on Coringa Drive just north of York Blvd and is Bank-Owned. The first unit is a 3+2 and the second unit is a 2+1 and both are vacant. The lot size is 5,000 sq. ft. and the total interior space is 1,584 sq. ft. with a listed for sale price of $345k. The property is in a nice pocket of Highland Park and not far from Occidental College. The units being vacant allow the home buyer/investor to do some updates and cosmetic repairs allowing for a reasonable rental price. This R.E.O. property just came on the market in the past week and is definitely worth a look. Having strong financials will allow for some good negotiations regarding the price with the bank.
The second property is a 4 unit apartment bldg. on Aldama St. by Milwaukee Ave. and all units are occupied. This income property is a regular sale and consist of two 1+1 units and two 2+1 units listed for sale at $449k. The bldg. is well maintained with some updates already done enhancing the value. The gross income for all units is $38k with operating expenses at $12k. The listing is only two weeks old and worth a look by a real estate investor seeking good value in northeast Los Angeles.
Residential Income property is well sought in N.E.L.A as the area is commuter friendly with good rental demand. Raphael, is the resident Realtor, having the knowledge and experience to help any investor find suitable property to meet the demands of a well qualified buyer. Now is the time to take action and search the income properties that are a value today with a positive return in the future. The real estate transactions done today can bring security and peace of mind to a savvy buyer in the years to come. Interest rates are still highly desirable and a well qualified buyer can negotiate well with a Realtor like Raphael on the team.
Let Raphael answer your questions regarding the real estate market in northeast Los Angeles. Information is all confidential and your privacy respected.
