Los Angeles Real Estate

2016 Los Angeles Real Estate Market in Review and a Look at 2017.

Our Multiple Listing Service (MLS) has recently published statistics for the 2016 Los Angeles real estate market through November and compared it with the previous year’s figures.   Overall the sales volume in 2016 rose 7% over the same period the previous year and the number of units sold dropped slightly. So what going to happen …

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Living in L.A. is a Different Experience From Visiting L.A.

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I have experienced Los Angeles from two different viewpoints and I can tell you that living in L.A. is a totally difference experience from visiting it. As you drive around L.A. you see the buses with tourists being shown all the “sights”:  Rodeo Drive in Beverly Hills; the Hollywood sign; Griffith Park Observatory; The Magic …

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Last Week in Los Angeles Real Estate 6/29/2015

Beverly Hills is getting yet another hotel. The owners of 9900 Wilshire Blvd., Wanda Group are planning to add a hotel to the $1 billion condo complex called One Beverly Hills. The number of originally planned condos will be reduced to accommodate the new hotel which will be next to the Beverly Hilton Hotel and under construction Waldorf Astoria. The number residences will total 193. The change will require the developers to go before the city again for permission, and construction completion is probably four years away. The Chinese company Wanda Group is the owner of AMC Theaters and is building the world’s largest film and television studio in Qingdao, China. They are hoping that this development will be help them get a foot in the door to Hollywood.

Last Week In Los Angeles Real Estate. 6/15/2015

The battle over restricting short-term rentals in Los Angeles continues to wage. While Santa Monica has passed an ordinance banning the rental of a home for less than 30 days unless the owner is in residence, other neighborhoods are fighting the policy. This action was shut down in Silver Lake and Venice, but the City of West Hollywood is next to watch. Malibu is allowing short-term rentals to continue, but the Mayor is authorized to issue subpoenas to companies to ensure that the property owners comply with the mandatory Transient Occupancy Tax (TOT) of 12%.

I Received a New Property Assessment. What Do I Do?

As a Chicago-area Mortgage Lender, I’ve always been asked a lot of questions regarding Taxes and Property Assessments.  Property Taxes, and subsequently monthly tax escrow contributions, play a very important role in loan approvals/denials. But throughout the recent housing downturn, the topic of property taxes and assessments has cropped-up more often and has become far …

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The ABCs of DTIs – Debt-to-Income Ratios

Definition of Debt-to-Income Ratio:   The figure that represents how much of your income is spent repaying your recurring monthly debts.  The HIGHER your Debt-to-Income Ratio is, the more of your monthly income is being devoted to paying back your debts.  Formula Used to Find Your Debt-to-Income Ratio:  Monthly debts owed divided by monthly income.  This …

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How to Dispute Credit Report Errors During Mortgage Process

Veterans of the Mortgage Industry can remember a time when clients suffering errors or inaccuracies within their Credit Report, were typically advised to “dispute”  those errors … But because of recent changes that have taken place in the Mortgage Industry’s Automated Underwriting Systems (commonly referred to as AUS), the advice given to current mortgage clients …

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