Real Estate Group LA.com

Categories: Architectural Spins, Foreclosure Information, Library Square, Our Listings, Short Sale Information, Ventura Boulevard Corridor August 27th, 2009

This is a GREAT deal on a Sherman Oaks Home in Library Square!!!

3 bedroom – 2.5 Bath

2,250 Sqft House – 6,500 sqft Lot

Gazebo – Gourmet Kitchen – Art Gallery Entry

Gleaming California Contemporary Home for Sale In Prime Sherman Oaks

 This Stunning Architectural Masterpiece Impresses from the vertical fence right into the 30’ art gallery entry back to the   gourmet cooks kitchen and spectacular gazebo.  Every corner has been finished to perfecting standards and  styling to complete this showplace.  Wide open spaces, high ceilings (16’), dark wood floors, Viking professional standard appliances, whole house audio, and a multitude of specialized lighting create the ambiance of class.  All this nestled in a prime trendy Sherman Oaks Neighborhood walking distance to all that Ventura  Boulevard has to offer.  Mostly rebuilt in 2004 with all  modern conveniences and systems. 

For more information:

www.4508Vesper.com

This is a short sale listing.  Be sure to ask us about the unique sales process this will go thru and the amazing opportunity it can be.  Look at our article which outlines this process.

Categories: Buying a Home, Our Listings, Selling a Home August 22nd, 2009

In Escrow

Click for larger image

This is your chance to get a jump on the competition

3 Bedroom, 2 Bath Charmer over 2100 sqft

Charming, move-in condition home on a quiet corner of a cul-de-sac.  Features include 2 bedrooms, family room, wood floors, plantation shutters, central air, and owner states copper plumbing.  Dining room and formal living room with foyer.

 Kitchen with newer stainless steel appliances, Corian countertops, and updated cabinets.  Inviting covered patio, lush backyard with possible RV access.  .  Bonus room with private entrance that could be third bedroom, office, or guest quarters.

For Sale at $429,000 – In Escrow

Guy Violas - 818-516-0011

Categories: Buying a Home, Library Square, Neighborhoods, Short Sale Information August 20th, 2009

Use our experience when purchasing a home with multiple offers… Your Library Square neighbor/realtor has been busy selling homes. I recently sold a listing in Sherman Oaks at 15429 La Maida Street. This home was a fixer and was very close to the 405 Freeway. The market dictated at $470,000 sales price and the work involved was equivalent to that of selling a multi-million dollar home. Next sale was at 24500 Starlight Lane in West Hills. This was a wonderful family home with a pool and spa. Although the property needed much work the home sold for $640,000. The buyers agreed to accept the property as-is. Let’s now go to the Hollywood Hills. I listed a contemporary pool home which needed a ton of work. We sold this home for $730,000. Yes there is some freeway noise, yes it was a hillside home and yes I got it SOLD! It will be a wonderful setting for the new buyers once the home is updated. Now the fun begins, we had a buyer who wanted to be in Tarzana, south of the Boulevard. A property came on the market at 4330 Reyes Ave for $799,000. There were several offers on the property and of course our buyer prevailed. Fortunately, my partner Ray and I were able to put 40 years of combined experience to work for our buyer. We close escrow in July. Again, my partner Blair and I had a young family looking to purchase a home up to $450,000. A home came up in Granada Hills, city of their choice. This home had multiple offers the first day on the market. Up to the challenge, we wrote the offer, delivered it directly to the listing Broker, and now our buyers are in escrow. Experience, educated on market conditions, perseverance and a positive attitude is what we will bring to the table when representing you as a buyer and as a seller.

Categories: Buying a Home, Foreclosure Information, Library Square, MidVale Estates, Neighborhoods, Selling a Home, VNSO Park August 18th, 2009

Existing single-family home sales thruout the San Fernando Valley increased 15.5 percent during June, according to the  Southland Regional Association of Realtors. This  marks the 12th month in a row that number of sales was higher than the prior year.

A total of 775 homes changed owners during June compared to 671 in June 2008 and 708 this May for a month-to-month increase of 9.5 percent.

 Ana Maria Colon, president of the Southland Regional Association of Realtors and Jim Link, the Association’s chief executive officer, agreed that the market cannot fully recover until lenders accept that it is no longer a declining market and gradually release for sale whatever foreclosed properties they are holding onto.  “With resale prices now firming up and many properties selling above list price, what we need now are more properties to sell and lenders who are willing to write loans,”  Because there are so few listings on the market I cannot find anything for a bunch of my buyers,” Colon said. “Yet even if we found the perfect property, getting a loan is still extremely difficult.” Read the rest of this entry »

Categories: Buying a Home, Library Square, MidVale Estates, Selling a Home, VNSO Park, Ventura Boulevard Corridor August 13th, 2009

This is an interesting video that is primarily aimed at Real Estate Agents but is very informational for the consumer as well.  I am actually pleased that the Zillow organization itself realizes the limitations of their system.   To view the whole web page go to: Zillow Zestimate

 As the video states, it is a great tool to use as a “start”  and the accuracy is very local.  I agree with their conclusions but I do not particularly agree with their reasoning.  When using a “computer model” such as this the value is only as good as the information that is entered as raw data.  The charts that they have on their site portraying the accuracy only apply to the amount of data they are given.  They do not or could not analyze the quality or implications of the data. 

This system works well in homogenous tract developments where the appeal of houses does not vary widely from one home to the next.

But does this work in older, more customized neighborhoods such as Sherman Oaks, Studio City, or even Van Nuys?

Non-tangible appeal factors are not (and cannot be) adjusted for  in this type of system.  View, lot size, location, upgrades, neighbors, and other positive and more important negative factors,  are not considered in the computer model.  That problem could possibly be solved with a more intricate system of entering data . 

But many of these factors are extremely subjective.  A view is of paramount value to one buyer but mean nothing to another.  A corner location in one community is a plus, in another it is a kiss of death.  The Midvale Estates neighborhood for example is an oasis in the middle of less desirable neighborhoods.  One end of Library Square in Sherman Oaks has a bigger impact from traffic than the other side.  And in VNSO (Van Nuys Sherman Oaks) Memorial Park neighborhood  one buyer would pay a premium to be close to the park where another would not even consider this location. 

These impact of these types of factors cannot be measured.  The only way to come to an accurate conclusion is personal knowledge of these neighborhoods, and their own particular quirks and idiosyncrasies.  This of course points to your local Real Estate Agent who can help you accurately value your house for any purposes.

Categories: Library Square, MidVale Estates, Neighborhoods, Selling a Home, VNSO Park August 7th, 2009

How to Appeal Your Los Angeles County Property Tax Bill

With the recent decline in real estate values, now may be the time to appeal your property tax bill!

We are experiencing significant declines in property values throughout the Los Angeles Area.  That means it may be possible for you to get an adjustment on your property tax Bill.

Proposition 8 allows a “temporary” reduction as evidenced by a decline in the value of your property.   This decline occurs when the your property is worth less than the currently assessed value as of the first of the year.  To determine the value, technically you have to look at the value as of January 1, not the current value.  I am not sure how much they stick to that regulation.  You can check what is currently on the market using our search engine.  It will give you an idea if it is worth attempting the process. But what you really need are Sold properties.

The Property Tax Dispute Process

Read the rest of this entry »