Real Estate Group LA.com

Categories: Buying a Home May 28th, 2009

I sold a house the week before the New Year holiday to a buyer who was going to essentially demolish the house. It was just down the street from my own home.  The house had been previously owned by a guy who was obsessed with “slasher” and “texas chainsaw” type movies.  So much so he had made a few flicks himself at the house.

The closing had gone smoothly and the new owner had taken possession of the house.  Being that the house was going to undergo extensive renovations the traditional walkthrough was waived.  Many personal items and debris were left behind for the new owner to dispose of.  The buyer being anxious to get the house fixed up promptly put a crew to work on the house, tearing down walls, removing trash, and starting the renovation. 

I was shocked when on New Years day I walked out of my house to be greeted by a platoon of police vehicles surrounding the house.  I gingerly approached an overly tense officer to investigate the situation.  Asking about the problem, I was told that they could not discuss what was going on.  I explained my relationship to the house and pointed to my name on the for sale sign still hanging in the front yard. 

Still, they did not care to speak with me.  Thinking I could help the situation I explained the nature of the previous owner. A little thaw in the stoic stare of the officer.  Jumping in with both feet I suggested that any body parts found would likely be harmless movie props.

A large grin broke out on the officers face, the wall had been breached!  The officer went on to explain that a “bone” had been found in a red liquid filled pot by one of the workers and reported it to authorities.  Officer stoic huddled with several of his counter parts and the tense “crime scene” took a palpable breath of relief.  The officers stand down and explain that they will still need to take the “evidence” to forensics to determine the anatomical source.  I put the officers in touch with the seller of the house, who was now far out of town, to verify the story.

This had been a fun adventure for me already but it was going to get better.  Under suspicion of a real bonafied “crime scene” the detectives had already been called in and were on their way to the house. Holiday boredom took over the officers.  The detectives arrived and the officers explained that the bones in the garage had been accounted for and explained away.  But they were now concerned about what they had found in the contractors “port-a-potty”.  

I then realized the not-so-glamorous side of being one of LA’s finest.  With flashlight in hand the detective proceeded to inspect the head, looking for a head.  The straight faces lasted about 15 seconds when the officers bailed the detective out and informed him the joke was on him. 

Selling homes often comes with tense and uncomfortable situations during escrow.  It was nice this once to have a little fun after the deal had been done.

Categories: Buying a Home May 20th, 2009

$8000 is a good chunk of money for anyone

Most of the bailout stimuli put into law by both President Bush and President Obama will never really trickle down to Joe America. But the “First Time” buyer credit is one that can actually reach the lower rungs of the trickle.
There are several aspects of this policy that make it appealing:
-it is a tax credit, not a tax writeoff, it is as if you have actually paid in $8,000 towards your tax bill
-it can be used retroactively by doing an amendment to your previous years tax return
-the definition of “first time buyer” is that you have not owned a home within the past 3 years
-This credit is only good on houses closed before December 1, 2009. This is not likely to be extended in this current form.
-The policy in 2008 was not nearly as good, the rules for 2009 are very good and favorable for most buyers.

These incentives along with Lower Interest rates, lower home prices and lower costs associated in the buying process make it an ideal time to jump into the market. These incentives apply to any area, from Sherman Oaks, CA, to the cheapest townhome in Van Nuys, foreclosures, regular home sales or new construction. Any house for sale will work. Just call your local real estate agent for help searching the MLS.

*these are all generic rules of the road and are no to be considered accounting or legal advice. I insist that you consult with your accountant or lawyer regarding these issues

Tags: bailout stimulous

Categories: Buying a Home, Foreclosure Information, Selling a Home, Short Sale Information May 14th, 2009

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