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Hey all, good news! Now banks can’t come after you for the loan money. See the Senate Bill 931 below…
Short sale sellers with a refinanced first mortgage should be dancing down the soul train line with this news. In California, prior to Senate Bill 931 being signed by Governor Schwarzenegger, once a seller has refinanced their mortgage, whether it is a cash out refinance or simply a refinance to a lower interest rate or term, the loan becomes a “recourse loan”, meaning the bank can pursue... [Read more]
Erik asks, are you feeling financially squeezed?
Erik Flexner, who is committed to helping homeowners avoid foreclosure says that short sales are a terrific option for homeowners struggling with unaffordable mortgage payments. In fact, lenders’ losses due to foreclosure are projected to increase at record rates in 2011, giving them more reason to pursue short sales. Lenders are projected to incur losses as severe as 85% in foreclosure!... [Read more]
What is a Mello-Roos District?
Ever wonder what the Mello-Roos assessment is about on your property tax bill? How is the tax calculated? Mello-Roos taxes are typically based on development density, construction square footage, or flat acreage. However, assessment methods may vary depending on local agency procedures. How much will the Mello-Roos payment be? The amount may vary from year to year, but may not exceed the maximum... [Read more]
Playa Vista Phase II Approved
Playa VistaApproval of the Village draws applause as well as praise and criticism of Councilman Rosendahl Taken from Argonaut Newspaper, BY GARY WALKER, Nearly six years after the second stage of development was first approved and after facing a jarring setback from a state appellate court with the recirculation of the environmental impact report, Playa Vista residents have cause... [Read more]
Will the April 30th expiration of the $8,000 homebuyer tax credit cause your property value to slump again?
Will the April 30th expiration of the $8,000 homebuyer tax credit cause your property value to slump again? Many of my buyers are scrambling to buy before the tax credit ends. Even my own brother is racing towards this goal. So it is definitely spurring people to buy. To qualify, a buyer must be in escrow by April 30th. What will happen to your property value AFTER April 30th? Some say that the tax... [Read more]
California’s Resale Housing Market in December
The California Association of Realtors (CAR) recently released their December 2009 report for existing home sales and prices in California. Statewide, sales of existing single-family homes rose by +1.7% (compared with December 2008) to 558,320 units (seasonally adjusted, annualized rate) while the median price increased by +8.4%. The was the second consecutive year-over-year price increase (in November... [Read more]
Why You Should Hold Title To Your Home in a Living Trust
After months of dealing with the complex process of buying a new home – from selecting an agent, to viewing properties, to securing a loan, to negotiating a purchase price –homebuyers often think that once the ink is dry on the escrow papers, the deal is done. However, taking the extra step to determine how best to hold title to your home can potentially save thousands of dollars in fees and taxes,... [Read more]
Indications of an emerging rebound of housing in the Playa/Marina condo market
Just read the article below and thought it definitely applies to anybody currently shopping or selling in the Playa Vista, Marina del Rey or Playa del Rey condo markets. Condos in a failed Marina del Rey complex built during the height of the real estate boom were auctioned at a discount Sunday with buyers spending $20.5 million for 41 units in two competitive hours of bidding. The complex, called... [Read more]
Latest News on the Village!
Playa Vista’s long-awaited village delayed for more than two years because of a court ruling will get another look this week from the Los Angeles City Planning Commission. Developers hope the panel on Thursday will recommend that the City Council approve a new environmental analysis and package of land-use entitlements that could push the second phase of Playa Vista a step closer to completion.... [Read more]
Create Life Changing Wealth-Learn to build your own million dollar real estate portfolio
Lately I’ve been asked if now is a good time to invest, and my answer is always the same – YES! Now you might be saying to yourself that this sounds like optimistic broker speak, but it’s not. The reality is that we’re in the midst of a perfect storm and there are 3 great reasons that you should be investing in income property right now. Cheap Debt – interest rates are still at historic... [Read more]
As one of L.A.'s newest and most exciting communities, Playa Vista offers quality of living, all around convenience and much more than just a beautiful place to live. The Flexner Group invites you to explore and become part of a community where you'll truly feel at home.