The Millennium Team BLOG

Local Tree Doctor with a Conservationist Bent

2007-08-29T18:30:00.000-07:00

In case you have questions about any of your trees...

Daily Candy.com
August 27, 2007

Man in Trees

I’m sorry, miss. We’re going to have to operate.

When it comes to the family dogwood, that’s the last thing you want to hear. But when Josh Marcuson says so, you can trust that it’s for the best.
A tree doctor with a conservationist bent trained in jolly olde England, Marcuson is an ace in all things aboriculture — from verticillium wilt and canker diseases to proper pruning and public safety. And he’s got fierce saw skills to boot, which is particularly handy as he makes furniture on the side.

Call for a consultation for one issue (your date palm isn’t looking so hot) and he’ll not only tackle that (um, that’s because it’s from Africa) but also point out other issues you may not have suspected (there are beetles in your pine tree and that oily eucalyptus is too close to your house).

After all, you’ve got to see the forest for the trees.

Marcuson Tree Management (213-494-1899 or mtmtrees.com).

New-Home Sales Rose in July

2007-08-28T18:09:00.000-07:00

Investor's Business Daily (08/27/07)

Sales of new homes bumped up 2.8 percent to an annualized pace of 870,000 units in July...Other statistics for July showed the supply of unsold properties down for the fourth consecutive month and the median price of a home up 0.6 percent from a year earlier, thanks to resilience in the luxury residential sector.

An "Excellent Time to Buy," Especially with Good Credit

2007-08-27T17:26:00.000-07:00

USA Today
Christine Dugas and Sandra Block

The credit crunch has turned into a buyer's market for consumers who have solid credit and the funds to contribute to a down payment. The average 30-year fixed mortgage rate fell to 6.52 percent last week, its lowest level in three months, as a result of declining yields for Treasury securities and the downturn in the housing market; and rates on adjustable mortgages are also down. Moreover...jumbo loans are still available thanks to community and national banks...conditions that improve the landscape for home buyers. "If you want to move up to a bigger house or buy a home for the first time, and you have the credit and qualifications to do so, it's an excellent time to buy."

Interest Rates Update!

2007-08-26T16:12:00.000-07:00

Interest Rate Watch
Selected Rates as of August 23, 2007:
30 yr fixed:
6.52%

15 yr. fixed:
6.18%
1 yr. adj:
5.60%

Contact me for up to minute updates
Anthony Vulin
310 461 1252
info@themillenniumteam.com

West Hollywood Real Estate Trends

2007-08-26T15:29:00.000-07:00

We will be bringing you statistical data from the West Hollywood Real Estate market on a monthly basis. Anthony Vulin, Realtor To The Stars, will bring you the following:
1. Median Price Trends
2. Avg Days on the Market Trends
3. Active vs Sold Property Unit counts
...and othe fun stats!

Keep The Millennium Team blog book marked http://www.themillenniumteam.blogspot.com/ or subscribe to our blog to get the latest info on the Los Angeles Real Estate Market!

Anthony Vulin
Realtor To The Stars
http://www.larealtortothestars.com/
310 461 1252
Keller Williams Realty

Special Open House this Sunday!

2007-08-24T16:30:00.000-07:00

The Millennium Team is hosting a very special open house this Sunday from 1-5 PM in the Hollywood Hills. 7548 Mulholland Dr. is a stunning architectural modern which is listed at 3.2 Million and is worth every penny! Check out all the pics at http://www.mulhollandmodern.com/.

Do you know anyone looking to buy or sell soon? Let us know and we'll get you a great thank you gift for the referral!

The Courtyards West Hollywood New Web Site

2007-08-23T21:26:00.000-07:00

I just finished a new website for 950 Kings rd. West Hollywood 90069. The Courtyards West Hollywood is great condo complex that is one of the nicest and most resonably priced complexes. For info on units sold and units on the market, check out http://www.courtyardswesthollywood.com/

Let me know if I can help you buy or sell real estate in LA!
Have a great day!

Anthony Vulin
Realtor to the stars
http://www.larealtortothestars.com/
310 461 1252

Modern Masterpiece on Mulholland

2007-08-23T11:58:00.000-07:00

We're pleased to share with you an exciting new listing, 7548 Mulholland Drive!

It’s a steal at $3,199,000, with 4 Bedrooms, 4.5 Bathrooms, approx 4600 Square Feet of living space, and a lot that measures more than 16,000 Square Feet.

This modern architectural marvel boasts a spacious open floor plan. The kitchen is state of the art with granite counter tops and high end appliances. Breathtaking canyon views can be seen through the picture perfect windows in nearly every room. This estate is gated and had a 3 car garage making it perfect for the buyer who values security & privacy. A large wooden deck overlooks the canyon with room for a spa, BBQ, and dining area. Also contains a large room which could be converted into a recording studio or home theater.

For pictures and additional information, please visit http://www.mulhollandmodern.com/.

L.A. housing market holds its ground

2007-03-27T18:49:00.000-07:00

Never mind a sales slump and now sub-prime uncertainty, prices are on the rise.

By Diane Wedner, Times Staff WriterMarch 18, 2007

Whom do you believe? Last week came the gloomy news that the number of U.S. homes entering foreclosure is rising, and with it, more experts are predicting a meltdown of the sub-prime lending market. But that stares in the face of median home prices in Southern California still climbing the first two months of 2007, compared with 2006. In L.A. County, the median rose 8.2% in the two-month period, to $525,000.

Yes, fewer houses were sold, but the number remains well above the mid-'90s slump. Conventional wisdom late last year was that a downturn would stretch across the board by now — and most segments have seen appreciation declines and sales drop-offs — but the high-priced market, usually the first to head south, still is "doing just fine," said John Karevoll, chief analyst at La Jolla-based DataQuick Information Systems, a research firm.

The low- and mid-ranges, he added, are performing satisfactorily.Experts are not sure why the L.A. market is doing better than expected. One explanation is that sellers have been pricing their homes more realistically, and buyers get that sellers aren't giving away their homes in a fire sale, said Leslie Appleton-Young, chief economist for the California Assn. of Realtors. As a result, the sales dropoff has slowed, giving everyone a breather."The year 2006 was a steep learning curve for buyers and sellers, but we didn't plunge into the abyss," Appleton-Young said. "Buyers who were on the sideline in 2006 are back in."

In the six counties of Southern California, the median price of a home — the point at which half the homes sell for more and half for less — was $489,500 in January and February combined, up 5.5% from the same period a year ago, according to DataQuick. San Diego County reported the steepest decline: 5.9%, to $475,000."Prices are still cooking," Karevoll said. They hit a record for L.A. County in February, rising to $528,000, up 7.8% from a year ago. Orange County's median price, however, dipped 0.4%, to $620,000.

Sales continued to fall the first two months of this year, but at a less torrid pace than in mid-2006. Sales in the Southland's six counties fell 18% from a year ago. The Inland Empire posted the steepest decline, at 33.1%.Some housing experts believe the market may be nearing the bottom. This spring and the next six months will be "very informative," said Delores Conway, director of the Casden Real Estate Economics Forecast at USC."Much depends on how much the supply of existing homes go up, which could push prices down," Conway said. "If there are sufficient buyers out there, though, that won't happen."All of this is small comfort to the borrowers with bad credit who jumped at the chance for easy money and signed up for mortgages much larger than they could handle.

They figured their homes would appreciate and D-day (due day) wouldn't come. Well, it did. The big question swirling around the water cooler today is how big an effect the sub-prime lending industry's burgeoning meltdown will have on home buying and Wall Street. First-time buyers, especially, will have difficulty pulling together the 20% down payment required for conventional loans, experts say.

The percentage of U.S. mortgages entering foreclosure during the fourth quarter last year rose to 0.54%, according to the Mortgage Bankers Assn., the highest since the group began issuing reports in 1972. Of California's 5.6 million mortgages, 0.15% entered foreclosure and 3.25% were delinquent.Among California's 806,022 sub-prime home loans, nearly 11% were delinquent, compared with 13% nationally.

To put this into perspective, a small percentage of homeowners who are late with their payments end up in foreclosure. The majority refinance or sell. Not all experts are worried. "The fact is, the vast majority of those who buy homes do it with straightforward mortgages," Karevoll said. "Sub-prime lending is a sub-category of a sub-category. There is a ton of mortgage money out there."Fears prompted by the rising numbers of homeowners entering the foreclosure process — a glut of such homes could spark price declines — also are overblown, Conway said.

Although there are more today than during the 2004-05 boom, she said, delinquencies are at historically normal levels. The bottom line, experts say, is that no one can predict exactly which way the market will go this spring, traditionally the top season for buying and selling."There's a lot of uncertainty floating out there," DataQuick analyst Andrew LePage said. "It's hard to be bullish or bearish at this point."

diane.wedner@latimes.com

Winter Market Conditions 2007

2007-03-05T16:24:00.000-08:00

February is closing out to be a very interesting month. Prices have gone up on an average of 6% since last February and inventory has remained about the same as it was in February 2006. However, more homes sold in February of 2007 then did in February of 2006. This is a very healthy sign for the real estate market. If a home is prices at market value, there is a good chance you will recieve multiple offers. This was unheard of last year. There are still quite a few homes on the market that are overpriced and are not selling. Buyers are finally realizing that prices are not going down in LA and if they need to buy, now is the time. The only area that saw a significant drop in home prices last year was the zip code of 90401 in Santa Monica. If you are a buyer and you see a fair priced home, don't hesitate to make the offer, because if you don't, some one else will. If you are selling, you MUST price your home at market value if you want it to sell. Overpriced homes are not even being looked at. For more info please contact The Millennium Team at (310) 461-1252 or e mail us at info@TheMillenniumTeam.com Check out our web sites at www.TheMillenniumTeam.com and www.LARealtorToTheStars.com

2007-01-11T17:41:00.000-08:00

PMI: New Legislation Could Change Everything

News Flash! Congress and the President have just created a benefit which could impact the majority of Americans seeking home financing! Millions of home buyers may now qualify for a more expensive home or obtain a lower payment for the same-priced home while potentially reducing their taxable income. So, what is this bombshell?

The federal government has passed legislation that would allow for Private Mortgage Insurance, also known as PMI, to become tax deductible effective January 1, 2007. The benefit will be extended to those whose personal adjusted gross income is less than $100,000 a year. What is PMI?PMI is normally required for home loans that exceed 80% of either the property's value, or the agreed upon sale price, as listed in the home purchase agreement. The purpose of PMI is to protect the lender in the event that a borrower falls into default and the lender has to reclaim the home through foreclosure.

Why Stay Away from PMI?The majority of those seeking home loans view PMI with contempt. The primary reasons for this are its perceived high cost and the fact that, prior to the new legislation, PMI was not tax deductible. Typically, prospective homeowners would only consider a loan with PMI because they had no other option available. When lenders allowed for "piggyback" financing in the 1990s, this enabled homeowners and home buyers to finance a home without PMI. Borrowers could simply take out two loans that, together, would cover the total amount borrowed.

In this type of transaction, the first mortgage accounted for a minimum of 80% of the purchase price or appraised value of the home; and the second mortgage covered the remaining amount required to fund the transaction.

What are My Options?Let's take a look at a sample transaction to see the financial impact of these different loan scenarios, especially in light of the new legislation. In the case of a home valued at $250,000, the mortgage transaction would require PMI if the amount of the first mortgage were to exceed $200,000. Alternatively, the borrower could take out a first mortgage for $200,000 or less, along with a second mortgage for the remaining amount needed to close.

Using the example above, if the homebuyer were looking to finance 95% of the purchase price, then one of two scenarios would typically take place: 1) The homebuyer accepts two mortgages, a first mortgage of $200,000 and a second mortgage in the amount of $37,500; or 2) The homebuyer finances a single mortgage of $237,500 and pays the PMI premium.

Using current interest rates, and without taking into consideration property taxes and homeowners insurance, the breakdown for monthly payments are shown below. The examples assume that the homeowner took out a 30-Year Fixed Rate at 6.25% and a Home Equity Line of Credit (HELOC) with interest-only payments at a rate of 8.75%. (Rates for both are subject to change and will typically decrease when the borrower puts more money into the transaction.)

Loan Scenarios
Loan with PMI
Piggyback Loan
First Mortgage Loan Amount
$237,500
$200,000
Second Mortgage Loan Amount
$37,500

Monthly Payment Options
First Mortgage Payment
$1,462
$1,231
PMI Payment / Second Mortgage Payment
$154
$273
Total Monthly Payment(s)
$1,617
$1,505

First Mortgage Payment
$1,462
$1,231
PMI Payment / Second Mortgage Payment
$154
$273
Total Monthly Payment(s)
$1,617
$1,505

Total Cost Analysis
Total Payments made after 60 Months
$95,150
$90,292
Principal Paid
$15,824
$13,326
PMI / Interest Paid
$79,326
$76,967
Balance Left on Loan(s)
$221,676
$224,174
Total Cost
$79,326
$76,967

Monthly Tax Benefits
First Mortgage Payment
$408
$344
PMI Payment / Second Mortgage Payment
$51
$90
Total Monthly Tax Benefits
$459
$434

HELOCs Have TeethWhen deciding whether to accept a HELOC, it's important to keep in mind that the interest rate is subject to change on a monthly basis. Each time the Prime interest rate moves, your monthly payment will most likely change as well. Anyone who elected to take out a HELOC three years ago has probably seen their interest rate increase from 4.50% to 8.75%. Based on the loan amount in our example, the minimum monthly payment would have increased from the initial payment of $133 to $273 due to interest rate changes alone!

The other thing to keep in mind is that the balance on your second mortgage will not decline if you choose to pay only the minimum amount required each month. After five years of making only the minimum payments, the total remaining balance on your loans would be nearly $2,500 higher than it would be had you chosen a loan with PMI. The Gift from Congress & Other Benefits of PMI Under the new ruling from Congress, borrowers who choose to accept a loan with PMI could potentially see as much as a $610 reduction in their yearly income taxes. Another reason to consider PMI, which many people aren't aware of, is that it can make it easier to qualify for a loan.

Whenever a first position home loan is accompanied by a HELOC, the approval of the first loan is contingent upon the approval of the second. In many cases, the approval requirements for second home loans are more stringent than those for loans in first position. Alleviating this obstacle may enable you to buy a more expensive home or to purchase preferred upgrades today instead of in the future. The second reason to rethink an aversion to PMI is that it doesn't last forever.

If your home appreciates at a rate of 4% annually, you will be in a position to have it removed by your lender in four years. This would result in an automatic reduction in your monthly payment of $154. What to Do NowWhen considering a home purchase or the restructuring of your finances, the first thing you should do is call your mortgage professional. There are a wide variety of options to consider, beyond what has been presented here, and your mortgage professional will help you to determine which scenario will best fit your needs. Your financial security starts with a phone call.

Great time for Buyers! Don't miss the window!

2006-12-14T12:48:00.000-08:00

Existing-Home Sales to Trend Upward in 2007
Existing-home sales are expected to rise gradually in 2007 from current levels, with annual totals slightly lower than 2006, while new-home sales will continue to slide, according to the latest forecast by the NATIONAL ASSOCIATION OF REALTORS®. David Lereah, NAR’s chief economist, says market conditions will vary around the country next year.“Roughly three-quarters of the country will experience a sluggish expansion in 2007, while other areas should continue to contract for at least part of the year,” he says. “Most of the correction in home prices is behind us, but general gains in value next year will be modest by historical standards.”

For Buyers, a Window of Opportunity
“Buyers, especially first-time buyers, with the combined benefits of seller flexibility and an unexpected drop in mortgage interest rates, have a window of opportunity,” he adds. “These conditions will persist in many areas until early spring when inventory supplies are likely to become more balanced.” Existing-home sales for 2006, finishing the third-best year on record, are projected at 6.47 million, a decline of 8.6 percent from 2005. For 2007, sales expected to rise steadily to an annual total of 6.40 million, which would be 1 percent lower than this year’s total. “By the fourth quarter of 2007, existing-home sales will be 4.6 percent higher than the current quarter,” Lereah says.

— REALTOR® Magazine Online

2006-11-22T16:21:00.000-08:00

2006 is almost over and the real estate market in Los Angeles is picking up! The inventory has gone down slightly and the number of sales have gone up. Buyers are finally realizing that price are not crashing here in LA. They have simply stabilized and now these buyers are starting to buy. 2006 was the second highest record year of all time in real estate sales volume and sales price!!! If you are thinking of buying, now is a great time. Traditionally, November and December are the two slowest months of the year. You will have less competition from other buyers and have a greater chance to negotiate a price for homes that have been sitting on the market for a while. The average time it is taking to sell a home in LA now is about 5 months. If you are selling, I would wait till January 1st and place your home on the market then. Sales pick up in January and you will get fresh and eager buyers! Feel free to contact me with any real estate question you may have at Anthony@TheMillenniumTeam.com or call me at 310 461 1252. Check out my Web site www.TheMillenniumTeam.com and www.LARealtorToTheStars.com for our newest listings and tons of real estate info. YOU CAN EVEN SEARCH THE MLS THERE! Happy Holidays! Anthony Vulin ~

Greenspan Says Housing Market Stable

2006-11-14T15:27:00.000-08:00

The housing market isn’t out of the woods yet, but it won’t worsen, former Federal Reserve Chairman Alan Greenspan told attendees at the annual Charles Schwab Impact conference in Washington yesterday."I think that while we are past most of it, there are a lot of negatives... but it is no longer subtracting from the [gross domestic product] growth," Greenspan says.Greenspan also said potential adjustments in loan costs facing many homebuyers probably isn’t a serious concern either. While some individuals will feel the pinch as their payments rise, Greenspan says these changes are "very unlikely to have a macroeconomic effect."

Daily Real Estate News | October 30, 2006

2006-11-01T14:33:00.000-08:00

Apartment Rents Rise as Buyers Wait on Sidelines
Apartment rents and demand are soaring nationwide as the economy produces good jobs and people who might have bought homes a year ago settle for apartments while they wait for housing prices to tumble.In addition, the supply of rental housing tightened in the past year as many apartments were converted into condominiums in places like Florida and Southern California. Some of those units are now returning to rental markets at high prices as owners struggle to sell them.In the quarter that ended Sept. 30, the average advertised rent reached $978, up 3.9 percent over the year-ago period, according to an analysis of 75 markets by real estate research firm Reis in New York. Some of the biggest increases were seen in Florida and Southern California.Meanwhile, the nationwide vacancy rate for rental housing dropped to 5.4 percent during the quarter from 6.7 percent in the same period of 2004.

SOME ROBUST STATS CONTRADICT THE MARKET-GONE-BUST REPORTS

2006-10-19T12:14:00.000-07:00

Washington~ With all the dismal reports about the home real estate market, don't lose track of something critically important: Mortgage interest rates have been falling quietly but steadily for months and are now at their lowest level in half a year, barely a percentage point above 40-year-lows.

New Mortgage applications are up sharply, the number of pending home sales is up, the national economy continues to expand moderately, and the rate of unemployment just declined again-to 4.6%.

All of which begs the question: Just what kind of housing bust is this any way? With the gloom-and-doom purveyors forecasting imminent crashes in dozens of metropolitan areas, how could such key fundamentals as jobs, interest rates and even pending home sales simultaneously be trending in the opposite direction?

Donald L Kohn, the Fed's Vice Chair took a stab at that seeming conundrum in a recent speech at new york university. His views are worth keeping in mind if you want to put the negative news on home prices and sales in perspective.

To begin with the fundamental point: Kohn sees no imminent bust or crash in housing. It is a "correction" that is underway. A cyclical re-balancing of a market place that got too hot for too long in some parts of the country and is now heading back to a more "normal" condition, where prices are more in the line with what consumers can really afford.

"The reported declines in house prices in a number of areas should help to facilitate the re-balancing of supply and demand in those markets," Kohn said. Not all home sellers have fully grasped the altered realities in their own local markets - that they have got to reduce their asking prices if they really want to sell. So the process is still unfolding. Re-priced houses, in turn, should stimulate greater numbers of potential buyers to get off the side lines and make offers. The un-expected 4.3% increase in the latest monthly number of pending home-sales contracts heading for closing nationwide reported Oct.2 by the national Association of Realtors could be a sign that Kohn's prediction is already taking shape.

Second, said Kohn, the housing correction - expressed through new home starts - suggests we are well on our way to bottoming out and eventually returning to positive growth in new home sales and resales.

Now to interest rates. Today's "unusually low" long term mortgage rate environment "stands in sharp contrast to some past downturns in the housing market that followed actions by the federal reserve to tighten credit conditions significantly." Translation: Affordable mortgage money should help shorten the current housing down cycle compared with credit-squeezed periods in the 1980's, when mortgage rates sometimes exceeded 16% for fixed-rate loans.

A final key factor, according to Kohn: "Continuing growth in real incomes should underpin the demand for housing and, as home prices stop rising, help erode affordability constraints."

Add it all up: Lower asking and selling prices on houses are integral parts of correction. Lower interest rates should make those lower prices affordable to a broader number of potential buyers. That could become an even more important factor if mortgage rates dip below 6% in the coming months, as some wall street analysts expect.

5.75% Possibility
James Glassman a managing director and JP Morgan Chase, says 30yr fixed rate mortgages at 5.75% are a distinct possibility if long term rates in the global bond market continue to ease.

So, what's the confusion about just where the housing is headed? Mike Moran, chief economist of Wall Streets Daiwa Securities America, minces no words: The financial press and TV news shows are over-dramatizing what is a normal and long-predicted cyclic re-balancing and "portraying as a catastrophe," he said.

Housing "is going through correction that's badly needed" he said. "The key issue whether it is orderly or disorderly" and all the signs point to a continued orderly process, not breakout bust or panic.

Doug Duncan, Chief economist of the Mortgage Banker Association points out that national housing sales numbers are merely rolling back to 2003 levels - "and that was a record year Serious sellers and buyers shouldn't be misled by predictions of imminent crashes, Duncan said.
Not only do the doom reports ignore the positives out there in the marketplace - mortgage rates in particular - but also "the rhetoric is just way overwrought."

Kenneth Harney
Washington Post Writers Group

October 2006 Market Update

2006-10-04T14:08:00.000-07:00

The Los Angeles Real Estate Market has officially become a normal and balanced market! The average time a listing is taking to sell is about 6 months. If the home is priced really well, the home will sell much quicker. Interest rates are still low! I've noticed mortgage interest rates have been following gas prices. When gas prices go up, so does the amount of money you are paying for your mortgage. My advice to buyers... get into a 10 yr or 30 yr fixed rate loan. The rates are not that different then the shorter term arms. Attention Sellers! Prices have not dropped, but you can not list your home for more then others have sold for in your neighborhood anymore. If you are thinking about buying or selling, give me a call and lets see if now is the right time for you or not.

442 Arcadia Drive reduced to $649,000.00 !!!

2006-09-15T15:04:00.000-07:00

442 Arcadia Drive, San Pedro CA
This spacious contemporary home is in the heart of San Pedro minutes from stores and great restaurants and has canyon views. It boasts 4 large bedrooms and 3 bathrooms with well over 2,650 square feet. The home itself sits on a maturely landscaped lot of approximately 5,000 square feet. This home is priced to sell quickly at over $100,000 below market value. Seller is offering 3% CSO. Seller will offer credit to buyer for appliances.

Open house Sunday September 17, 2006 from 2pm to 5pm

www.themillenniumteam.com

www.LARealtortothestars.com

Priced at $649,000.00

NEW LISTING!!!

2006-08-18T11:33:00.000-07:00

442 Arcadia Drive, San Pedro CA

This spacious contemporary home is in the heart of San Pedro minutes from stores and great restaurants and has canyon views. It boasts 4 large bedrooms and 3 bathrooms with well over 2,650 square feet. The home itself sits on a maturely landscaped lot of approximately 5,000 square feet. This home is priced to sell quickly at over $100,000 below market value. Seller is offering 3% CSO.

Priced at $689,000.00
Please call ASAP if you or anyone you know may be interested in this property...
(310) 461-1252
info@themillenniumteam.com
www.LARealtortothestars.com
www.themillenniumteam.com

Quarterly Real Estate Market Update for Los Angeles August 2006

2006-08-03T11:44:00.000-07:00

Real Estate Market Conditions for the Los Angeles area. August 2006

The real estate market in the Los Angeles area this summer has really taken a swing towards buyers. The average time it is taking a home to sell is about five months. Last year at this time it was taking about 90 days. There are twice as many homes for sale this year as opposed to the same time last year. This is part of the reason why listing are taking longer to sell. With these two factors, one would think that houses must be selling for less money. It's the simple economic principle of supply and demand. Right? Well surprisingly this is not the case. Homes are selling for the same price they sold for last year. Not more or not less. Sellers are willing to hold out to get the price they want. I predict that the average time a home will take to sell will be 6 months by the end of the summer. At 6 months, the market will officially be a normal market and be balanced for seller and buyers. If you are a buyer, buy now. Prices will most likely not drop! BUT, interest rates most likely will rise. Sellers, if you need to sell quick, you will need to price your home under what other homes in your neighborhood have sold for in the last 30 days. If you can wait 6 months, you can price your home at the same price other homes in your neighborhood have sold for. I hope you all have a wonderful summer! Feel free to contact me with any questions! Anthony@TheMillenniumTeam.com 310 623 1384 www.TheMillenniumTeam.com or www.LARealtorToTheStars.com
Anthony Vulin IIITeam Leader/BrokerThe Millennium TeamKeller Williams Realty8560 West Sunset Blvd., Third FloorWest Hollywood, CA 90069www.TheMillenniumTeam.com www.LARealtorToTheStars.com PH: 310.623.1384FAX: 888.203.0168

Client Testimonial July 2006

2006-07-18T13:26:00.000-07:00

Hi Anthony,
How are you? Hope you are doing well. You'll probably have to jog your memory as to who I am, but this email is LONG LONG overdue.... you had asked for testimonial for the service you provided in selling our home in Hollywood Hills (6331 Grape) back in January, and I got busy and selfish with my time and forgot about it. But better late than never right?
Anyway, we are currently in a similar situation up here in the Bay area trying to sell our home that we listed with the top realtor in that area, but he did not do well in marketing the house so it sat empty with little activity for 2 months! So we let him go, and hired a team from Keller Williams up here. It's still on the market (it's on it's 3rd month now) so cross your fingers that it will sell soon!

Anyway, in all honesty, when we were looking for a new realtor last month, we had wish you were up here to sell the house!!! And if we couldnt get you, we wanted to find an Anthony Vulin of the Bay Area to list our house!

Which we never found, but found the 2nd best, nonetheless.
Now reflecting back to the sale of our Hollywood Hills house, we were spoiled by you. We constantly received updates by phone and email, you sent us all the marketing pieces, and when you went on vacation, you made sure you were covered so we never ever felt out of touch with you.. and being that we were 400 miles away, it seemed as if you were local, becuase you kept that communication going. You even went out of your way to arrange the stager, the carpert cleaners, and eveyrthing else you thought needed work.You really went that extra mile. I felt that you totally embraced our house as if it was yours and went to market it as if it was yours. What i'm noticing about our current experience of trying to sell our house up here, is that the realtors are not embracing our home with pride the way you did with Hollywood. That hollywood house had its issues and its quirkiness, yet you gave it love and care, and honestly, i think that is why it sold within a week of you relisting it with your team. You put the right kind of energy and determination out there in getting that house sold, and it sold. I wish I could have that kind of energy up here to sell our current home.

I don't know what you believe in, but I truly believe that if you put love and passion into something, you will alsways succeed... whether it's a new career, a 50k marathon, or whatever. You put the love and passion of what you do, into the sale of our home and it was was truly a success.

For this, I don't know how to thank you, except know that when w'ere ready to buy or sell again in LA (we stiill have 2 properties there), you will be the one we'll call. Either that, or can you come up here and get licensed to sell in the Bay Area?! :-) We need your dedication and perseverance up here! And if you won't do that, at least, if you're back in this area
again soon and have some time, it would be great to go for lunch or a coffee!

take care,

sorry this is LOOOOOOOOOOOOOONG overdue, and keep in touch,

Michelle Oviedo

Real Estate Market Update for Los Angeles, April 2006

2006-04-13T17:25:00.000-07:00

The Los Angeles real estate market always starts to get pretty busy in April. Spring is here and the rainy season has ended. More homes are now on the market then there have been all year. When you compare the number of homes on the market in April 2005 to April 2006, there are almost double the number of homes on the market in 2006. This is great news for buyers! However, rates are slightly higher this year as opposed to last year. The average rate for a 30 yr fixed mortgage with 1 point is about 6.25%. This rate is still extremely good! The market is not a buyers market yet, nor is it a sellers market. I would say the market is pretty balanced and almost normal. The average time a home is sitting on the market is 90 days. Prices haven't gone up in a few months, but they haven't gone down at all either. There is still a very high demand for homes in Los Angeles, as I think there always will be. For more info please check us out at www.TheMillenniumTeam.com or e mail me at Anthony@TheMillenniumTeam.com (310) 461-1252 Have a great Spring, and remember April showers bring May flowers~

Realtor to The Stars and Nicole Kidman

2006-03-09T17:53:00.000-08:00

Last Friday I had dinner next to Nicole Kidman and her "date" Keith Urban. For all you nosey star struck people out there, Ms. Kidman had a 1.5 lb spiny lobster dinner and Mr. Urban had a filet with truffles. We were at a small Italian place next to my office on the sunset strip, called Il Sole. The food is alway great, and I love taking clients there for dinner. Last Thursday, Sheryl Crow was seen dining there as well. Stay tuned for more real estate news and star sitings!
www.LARealtorToTheStars.com and www.TheMillenniumTeam.com

Market Conditions for March 2006

2006-03-06T11:10:00.000-08:00

The Real Estate Market is really on its way to becoming a balanced market. Almost all listings over $ 1,000,000 are sitting on the market for about 3 months and selling near the listed price. This is a very healthy market that is fair to both buyers and sellers. There has been no drop in the value of homes. However, there have been price reductions for homes that are overpriced. All of our Sunday open houses have had a consistent flow of buyers coming to view them. From now, and throughout the Summer, the real estate market will be at its finest. People love to sell during the Spring and Summer. There will be more listings to look at and more buyers to buy them. For more details on your neighborhood or a neighborhood you are interested in, please e mail me at Anthony@TheMillenniumTeam.com or call us at 310 461 1252. Check us out on line at www.TheMillenniumTeam.com and www.LARealtorToTheStars.com or our blog at www.themillenniumteam.blogspot.com

Home Staging Works!!!

2006-01-19T10:03:00.000-08:00

I just thought I would share with you all a wonderful testimonial regarding staging your home for sale. Recently, The Millennium Team had a listing of a vacant home which had previously been on the market with another agent for months and had expired. The sellers relisted through The Millennium Team and we recommended home staging. We called on professional home stager Nickie Rothwell, accredited staging professional. She came up with a relatively inexpensive staging option for our sellers. The home was on the market only ONE WEEK, before we received a full price offer. Nickie is amazing and I encourage all of my sellers to have a professional stager come in and look over your home prior to listing, it makes all the difference in the world. Visit Nickie's website online for tips and tricks and contact information as well as before and after photos, if you aren't considering selling at least you will get some tips to maximize your home that you can use the next time you are hosting a get together or dinner party.

http://www.getstaged2sell.com

Best Wishes,

Anthony Vulin

January Market Conditions Report

2006-01-19T00:25:00.000-08:00

Happy New Year! Wow, what I great year this is going to be for real estate in Los Angeles I just returned from Brazil and I'm very excited with what I see going on in our market. First off, interest rates are lower then they were the last few months. For a 30 year fixed rate, paying one point, the rate is 6.125. That's great news for buyers. We thought that January might have brought higher rates, but it didn't. More listing are starting to come on the market, which is always good news for buyers. This is typical, after the holidays people are in a better position to list their property. There are still plenty of homes on the market that were listed last quarter. These sellers are eager to sell, and this leaves room for a buyer to negotiate the price slightly. Great news for sellers who are listing in January in LA, if the property is priced right, it should sell in less then 30 days. My team had 3 listings that sold in one week this month. It was all because we priced the property correctly and made the property presentable. Making the property presentable, or staging, is huge! I always recommend staging your property when you are selling. It always sells quicker and for a higher price. I work with great stagers and would love to refer them to you if you need them. California Association of Realtors says that home prices in Southern California will rise about 5% this year. In Los Angeles I believe the increase will be about 5-10%. This is a lot less of an increase then we've seen in the last 3 years, but none the less, it is still a healthy increase. In conclusion, I believe the market is still transitioning into a normal market, where buyer and sellers will be happy and find fair deals, where homes will sit on the market for about 90 days, and where interest rates are low. I was asked to speak on the CBS Evening National News a couple weeks ago with my take on the housing market for the LA area, and I told them just what I have told you. Bill Whitaker interviewed me and agreed with the points I made. I hope you allow me and my team the opportunity to consult you through a real estate transaction one day soon! Feel free to E mail me at Anthony@TheMillenniumTeam.com and check out our web site at www.TheMillenniumTeam.com and www.LARealtorToTheStars.com

NEW LISTING - 2170 Coldwater Canyon Drive

2006-01-14T21:40:00.000-08:00

2170 Coldwater Canyon Drive

BEVERLY HILLS

Listed at $1,699,000

STUNNING 4 BEDROOM, 2.5 BATH NEWLY REMODELED SPANISH STYLE HOME WITH GORGEOUS FINISHES. DEEP RICH WALNUT FLOORS, BEAMED CEILINGS & WOOD-BURNING FIREPLACE. BRAND NEW KITCHEN W/TOP-OF-THE-LINE APPLIANCES, LRG MSTR SUITE W/STUNNING NEW MASTER BATH & AMPLE CLOSET SPACE. FRENCH DOORS THAT LEAD TO LARGE OUTDOOR ENTERTAINING AREAS WITH MATURE LANDSCAPING. A ONE-OF-A-KIND PROPERTY LOCATED MINUTES FROM THE HEART OF BEVERLY HILLS AND THE VALLEY.

For more information call Anthony: (310) 623-1384

NEW LISTING - 6331 Grape Place

2006-01-09T09:01:00.000-08:00

6331 Grape Place

1ST OPEN HOUSE SUNDAY 1/15/05 FROM 2 -5 PM

Hollywood Hills Charmer! 2 Bedrom and 2 Bath 2-story with a Contemporary touch on quiet cul-de-sac. Close to Lake Hollywood. Tranquil canyon views. Main floor has livingroom with fireplace, renovated kitchen, dining area, bedroom and bath. Lower level has familyroom with fireplace, bath and bedroom with french doors that open to a deck. Spacious Brick terrace and grassy area perfect for entertaining. Beamed ceilings, hardwood floors, new carpet, new paint, carport, and copper piping.

FOR DETAILS CONTACT ANTHONY VULIN 310-623-1384

Yields Finally Flip -- Officially

2006-01-02T11:58:00.000-08:00

It's official, folks. The yield curve officially flipped on December 27th, when the yield on the two-year treasury bill edged up to 4.35 percent while the yield on the ten-year treasury bill fell to 4.34 percent.

Such an occurrence is unusual and counterintuitive. Logically, investors demand a higher return for a longer commitment. This is why, for example, 30 year fixed rate mortgages will carry a higher interest rate than one year ARMs. The Federal Reserve Board has considerable control over short-term rates, but very little control over long term rates, which are largely controlled by market forces.

Here's what's happening: The Fed and the market are butting heads. The Fed has raised short-term rates 13 times in the last 19 months, in an effort to balance economic growth and inflationary pressures. Long term rates have barely budged. Apparently the market doesn't feel the same inflationary pressure that's felt by Chairman Greenspan and his "Merry Band of Policymakers."

Over the last year or so there have been many short-term rates carrying a higher yield than their longer-term counterparts. Take the prime rate for example. The prime rate affects many consumer loans and most home equity lines of credit. It can be considered a short-term rate because it is directly affected by the monetary policy of the Federal Reserve Board. In fact, the Fed's latest credit tightening campaign over the last 18 months has pushed the prime rate up from four percent to the current rate of 7.25 percent. Meanwhile, 30 year fixed rate mortgages are hovering around six percent.

While this is just one example of a short-term rate exceeding a long term rate, the media didn't focus on the phenomenon until December 27, when the two year treasury bill surpassed the ten year note.

Suddenly the inverted yield curve became big news.

Now, how does all this affect real estate and mortgages? First, adjustable rate mortgages are no longer the bargain they once were. In fact, you'll probably discover that the rate on a three-year ARM, which carries a fixed rate for the first three years, is higher than the rate on seven-year ARM, which carries a fixed rate for the first seven years.

Let's look at the big picture. The stock market fell sharply on December 27th because an inverted yield curve has historically been followed by a recession. Some economic talking heads have publicly insisted that it won't happen this time. Others are siding with history and predicting slower growth by mid-2006.

For homeowners and future homeowners, I can tell you that a weaker economy, whether or not it's called a recession, tends to keep inflationary pressures in check. When inflation is kept at bay, interest rates often fall across the board.

If we are indeed headed for an economic slowdown in 2006, homeownership may become more affordable, not just a result of the cooling housing market, but lower mortgage rates. Stay tuned.
Related Articles:
Real Estate Investment Opportunities: Make Sure You Do Your Homework
Before Seeking Out the Best Rate, Choose the Right Mortgage Program
Before You Speculate in Real Estate, Make Sure You Know What You're Getting In To
Beware of Loan Officers Who Use Strong-Arm Tactics
LIBOR-Based ARMs are Finally Out of Favor: Time to Fix that ARM

CBS Evening News

2005-12-26T10:44:00.000-08:00

In case you missed it Anthony Vulin was featured on the CBS Evening News regarding the changing housing market. Here is a link to the story and video:

Housing Market Cools Video

Pocket Listing in the East Hollywood Hills

2005-12-13T09:55:00.000-08:00

Listed at $699,000

2-story with a Contemporary touch on quiet cul-de-sac. Close to Lake Hollywood. Tranquil canyon views. Main floor has livingroom with fireplace, renovated kitchen, dining area, bedroom and bath. Lower level has familyroom with fireplace, bath and bedroom with french doors that open to a deck. Spacious Brick terrace and grassy area perfect for entertaining. Beamed ceilings, hardwood floors, new carpet, new paint, carport, and copper piping.

For more information call Anthony: (310) 623-1384

Timing the Market: Is there a method to the madness?

2005-12-09T09:25:00.000-08:00

Timing the Market: Is there a method to the madness?

An extended rise in real estate prices in almost every region of the country has invited an unprecedented transfer of investment capital out of the stock market and into the housing market. But many analysts foresee a cooling of the boom, and higher interest rates support that prediction. Real estate buyers and sellers are looking for ways to time the market, and the ones with professional experience are doing it by the numbers, not the emotions.

Interest rates for mortgages and other real estate loans are closely related to the overall performance of the real estate market, because those rates control the purse strings of the funds used to purchase property. Historically, any rates below 10 percent are reason to celebrate. But this comes are news to younger investors who have never seen double digit rates, and consider them a sign of the end of the world as they know it. They have enjoyed rates half that expensive for most of their adult lives, and as a result, have become accustomed to stratospheric housing prices that have doubled the average price of a single family home.

And because we live in a time when telecommunications tools have created a faster and more volatile global marketplace, the old rules of the lending game may no longer apply. What was once “historically” true may now be outmoded, outdated history – and unable to assist us in timing today’s markets. But there are some classic tips for analyzing real estate trends that still serve us well, in both bull and bear markets, and we can examine a couple of those in order to help you navigate the changing tide of the next wave.

One phenomenon that holds true when rates rise is that it often spurs sales of homes, contrary to conventional wisdom. The reason is that buyers who have been sitting on the proverbial fence, watching rates slide and trying to decide when to lock in their best (i.e., lowest) rate, suddenly panic when the numbers reverse and head upward. Rather than sitting by and idly watch interest rates climb beyond their reach, they jump in and buy without hesitation. This often brings a flock of reluctant buyers out of the woodwork, and can be a pleasing reaction to otherwise troubling news of inflationary rates. But the phenomenon is somewhat misleading, because this flurry of purchases is only harvesting the last crop of qualified buyers, without promising any new growth. In many parts of the country, this last hurrah has already happened, and sellers are now faced with a shrinking market that is quickly becoming a buyer’s – no longer a seller’s – market.

But how do we know whether it is a buyer’s or seller’s market? It is a bit like watching the tides when they begin to shift on a beach – only by looking very closely at the action of the currents can you observe the specific signs that indicate whether the water is receding or coming inland. But fortunately, one of the most dependable clues in the real estate business is also one of the easiest to read, and is based on how long it takes for a house to sell. To track this critical data, simply ask your Realtor to provide you with information on sales in your neighborhood, and make sure they include a category known as “time on the market”.

The broad average of this measure is normally about 12 weeks. But this can vary considerably, depending on the particular market dynamics of a given region of the country, section of town, or neighborhood. To gather accurate data related to your particular market, study the time on the market for your specific neighborhood of homes, by viewing the information from the local Multiple Listing Service or your Realtor.

In a wildly bullish market, time on the market may be a matter of days, not weeks. In a bear market, it can extend to six months or more. But as a general rule, whenever it takes an average of more than four months for houses to sell, it is defined as a buyer’s market. Conversely, if houses sell in two months or less, we have a seller’s market. Between the two ends of the scale, there is room for all sorts of change and variation, but you can adjust your reading of the market timeline by watching the figures related to the time on the market. If the average compresses to a matter of two or three weeks, it may be a sign that demand is extraordinary, and that the market is extremely favorable to sellers. During a recession, the time a house sits on the market can extend to years, even if sellers continue to drop the price. At such times, rather than running away from the real estate market, many professional investors go “bottom fishing”, and accumulate property at bargain basement prices.

To find a realtor or lender to help you make wise, educated decisions in any market, contact http://www.gayrealestate.com/ or http://www.gaymortgageloans.com/, the premier online real estate resources.

Market Conditions for December 2005

2005-12-08T13:23:00.000-08:00

Although there are signs of slowing in certain regions, a real estate-led recession in California is unlikely, a UCLA forecast now says. The housing market is not accelerating, but is still cruising along at a quick pace, especially in the LA area. We are still a long way from seeing prices completely flatten out. I have seen condo prices continue to go up and sell in less then 30 days. Homes under a Million dollars are reacting in a similar way. For those of you lucky enough to be in a home over 1.5 Million, you probably won't be able to sell you home in less then 30 days, but hopefully in less then 90, if it is not over priced. I continue to see sellers over price homes. They are pricing them for more then any other home has sold for in their neighborhood. This is a huge mistake. I still think many sellers are not aware that the market is not the same as it was last spring, or for the last three years actually. You need to price homes close to what comparable homes have sold for, within a one mile radius, and within a 3 month period prior to putting your home on the market. That is how appraisers are pricing homes, and that is how I price homes. Interest rates are still a low 6.25% for a 30 year fixed, and no one expects a big change in this rate for a little wile. This is good news for buyers. If you are a buyer, buy this month! Homes have been on the market longer then any other time in the last 3 years and sellers are getting worried. This makes the listing price negotiable! I really hope all of you have a wonderful holiday season and a prosperous New Year. I will be celebrating the New Year in Rio, Brazil. Please contact me at anytime. My team and I would be honored to help you in anyway we can. Visit us online at either www.LARealtorToTheStars.com or www.TheMillenniumTeam.com (310) 623-1384.

Real estate purchases rebound

2005-12-08T11:12:00.000-08:00

Real estate purchases rebound

Borrowers not thwarted by higher interest rates

Wednesday, December 7, 2005

Inman News

Overall mortgage applications were up 5.2 percent last week on a seasonally adjusted basis from the week before, with refinancings posting the largest increase, according to the Mortgage Bankers Association's weekly survey.

The seasonally adjusted refinance index increased by 7 percent to 1,596.4 from 1,484.3 one week earlier, while the purchase index increased by 4 percent to 495.1 from 476.2 the previous week.

The refinance share of mortgage activity increased to 41 percent of total applications from 39.1 percent the previous week. The adjustable-rate-mortgage share of activity increased to 33.1 percent of total applications from 33 percent the previous week.

The average contract interest rate for 30-year fixed-rate mortgages increased to 6.32 percent from 6.2 percent one week earlier. Points including the origination fee increased to 1.3 from 1.17 for 80 percent loan-to-value ratio loans.

The average contract interest rate for 15-year fixed-rate mortgages increased to 5.84 percent from 5.72 percent. Points including the origination fee increased to 1.37 from 1.26 for 80 percent loan-to-value ratio loans.

The average contract interest rate for one-year adjustable-rate mortgages increased to 5.49 percent from 5.39 percent one week earlier. Points including the origination fee decreased to 0.91 from 0.96 for 80 percent loan-to-value ratio loans.

Washington, D.C.-based Mortgage Bankers Association is a national association representing the real estate finance industry. The survey covers approximately 50 percent of all U.S. retail residential mortgage originations, and has been conducted weekly since 1990. Respondents include mortgage bankers, commercial banks and thrifts.

Should I Take My Home Off the Market During the Holidays?

2005-12-08T09:34:00.000-08:00

When you look at your calendar you may find the months already overloaded with seasonal obligations -- shopping, entertaining, children's pageants, charity work, decorating the house, and so much more. If you are also trying to sell your home, you are under extra pressure to keep your home in "showtime" condition. And that could be the last thing you need before the holiday spirit is broken.

It is understandable why you would be tempted to take your home off the market during the holidays. And the list of justifications is long. If you are too busy, buyers may be also, and you may find your efforts unrewarded by enough showings. And what if you do get an offer? You may be faced with the possibility of packing and moving during the busiest time of the year.

Besides, you can give your house a rest, and it will have better momentum after the holidays. Better to just pack it in and start fresh in January, right?

But wait! Most top Realtors agree that taking your home off the market during the Christmas season is a mistake. The house surely isn't going to sell off the market! What is the advantage of that? So you're busy. Let your Realtor do the work. You can leave in the morning, go to work, go shopping, and let your Realtor take care of things.

The holidays are a wonderful selling period. Why? Because most people take off work sometime during the season. The husband and wife are both off and want to see houses. Most agents like the holidays because the buyers have more time, and they can look at homes together.

Before you take your home off the market, consider the following points:

Although buyer activity may appear to slow down, the buyers who are actively looking during the holidays are that much more serious. Agents believe the home market is no more affected at Christmas than during other "busy" periods. If that were so, the market would shut down throughout the year as families concentrate on spring weddings, June graduations, summer vacations, and autumn back-to-school activities.

Many buyers deliberately choose to shop for a home after the busy spring and summer rush. They know that it will be easier to look, and that negotiations will be less stressful. They may not have children, or they may have grown children, so moving to accommodate the school year isn't a consideration. Finding the right home at the right price, however, is.

Relocating families often don't have a choice when they can leave for their new destination.

Although 68% of transferring families have children, many families have to transfer during the middle of the school year. These families are that much more motivated to get their families settled in before either the January semester begins, or to arrange for the move during spring break in March. If you sign a contract by New Year's Eve, the timing couldn't be more perfect.
At Christmas time, our culture focuses on family and the home. Preparing for the indoor activities of winter is one of the most enjoyable periods of family life. Allowing buyers to view your home during this most hospitable of seasons lets them better picture their own family life in the attractive environment you have created.

When is your home ever more beautiful and inviting? You have cleaned and decorated, and your home looks like a picture postcard. If the results are good enough for family and friends, they will surely be good enough to impress your buyers. Get the family team on board to do a five-minute blitz pick-up every morning to keep holiday messes to a minimum.

With reduced inventories and motivated buyers, you will have all the members of the MLS on your team. You may find you have more showings than you would if you marketed your home during a busier time of the year.

If you do get a contract, you can arrange the terms to suit your needs. If moving during the holidays isn't an option, you can put in the closing date of your choice. Most people can close 30 to 60 days after a contract is written, so there is plenty of time. Possession and closings are very negotiable.

Written by Blanche Evans

Wondering What Your Home Is Worth? -- Let me show you.

Buying a near the Holidays House

2005-12-08T01:55:00.000-08:00

A couple of weeks back, I talked about selling houses during the holidays when really serious buyers are out in force.

Since we bought our first house in the first week of January and sold it on Dec. 31, and bought our third house a week before Christmas, I thought I was standing on really firm ground in my recommendation.

That is, however, until my wife made me drive three blocks from my street to get a load of the "Christmas house."

Every gadget, gimmick and kind of light available on the market today covers this place from dusk to dawn and then some. I'm absolutely certain that planes landing at the international airport across the river use it as a directional finder in foggy weather.

Christmas is not the only holiday that finds this house awash in decoration. The giant inflatable turkey that replaces the giant inflatable pumpkin the day after Halloween is replaced by the giant inflatable Santa Claus surrounded by enough fiber-optic animals to fill Albert Lea State Park in Minnesota.

Unfortunately, no wide open spaces exist between houses on this street, which means that how neighbors live is influenced heavily by blinding brightness and the perpetual ho-ho-ho-ing of the multiple Santas.

I'm sure you are calling me a Grinch, and so be it. Although I do decorate my house for Christmas each year, we err on the side of minimalism and taste.

So, he's a snob, you are saying. Not really. I do, however, consider the sensibilities of my neighbors and the overall livability of the neighborhood, just as they do mine.
We celebrate the holidays, but the electric company's bottom line doesn't rise or fall on how we do it.

The owners of the Christmas house are exuberant about the holidays, for sure. But, as my wife suggests, how do sellers and agents trying to market a house on that street accommodate buyers who may not understand such exuberance?

There are probably as many people who would understand and who wouldn't, but in a slowing market with an increasing supply and declining demand, you don't want to play the numbers game.

Enthusiasm reflected by the decorations could be construed as "pushy" behavior in other matters. For example, if the neighbors see nothing wrong in imposing their "tastes" in decorations on others, what would stop them from running a gas mower at 7 a.m. every Sunday or repairing their cars in the driveway?

It comes down to location. People buy where they live and what they live in. It is sheer folly from a house-as-an-investment perspective to buy the nicest house around that's next door to a light show.

The few advantages -- eliminating the need to turn on your own indoor lights and saving money on electricity -- would be outweighed by the association of where you live and what is next door.
"Oh, you must live next to the Christmas house," people would say. "I'll bet it feels strange wearing sunglasses at night."

In their haste to buy, a lot of people often are willing get into potentially uncomfortable situations.

One fellow I know bought a house next door to a collector of old cars, and began to complain about "abandoned wrecks" after a few months.

When I reminded him that those "wrecks" were sitting in the neighbor's front yard before my friend bought the house, he replied that he hadn't realized how much the cars would bother him.
You can't anticipate problems, no matter how much you wish you could. If you buy a house down the street from a new-home development in its first phase, you can assume that there will be more houses, dust and noise from construction and more people using your street.

Even if you buy in a "perfect" neighborhood, there is no guarantee that such perfection will endure forever. That's if you are foolish enough to search for "perfection."

The owners of a house we once considered buying told us that we seemed to be people very much like them and exactly like everyone else in the neighborhood. We didn't run screaming from the house, but we went on to pick a neighborhood that reflected the diversity of where we had been living for six years, which was a block from a public housing project.

The housing-project neighborhood wasn't perfect by any stretch, but it wasn't as bad as everyone had led us to believe.

For some buyers, living near the Christmas house might be just the ticket.

Especially if they have a good supply of sunglasses.

Related Articles:

Holidays Coming? So Are the Most Serious Homebuyers
Energy Concerns Reflected in Design and Features of Homes
When the Home Inspection Kills a Sale
Housing Groups Say Reality Show Went Too Far
The Importance of Disclosure

Written by Al Heavens
December 8, 2005

Holiday Plans

2005-12-07T11:14:00.000-08:00

My family has always been an important part of my life. This time of year Is always my favorite because I get to see my family much more than usual.

On thanksgiving, my dad and I passed out food to members of the Beacon House in San Pedro. This is a charity my dad works closely with and its been a tradition for me to join him every thanksgiving. My sister Marie just became a 4th grade teacher and I look forward to watching a holiday program her and her students will be putting on.

On Christmas eve, I will be with the Croatian side of my family in San Pedro enjoying a traditional seafood dinner. On Christmas day, I will be with the Italian side of my family in Palos Verdes enjoying homemade manicotti that my mom and I make.

What will you be doing for the holiday's? what ever it is, I hope you will enjoy your friends and family as much as I will.

Best Wishes for a fun and safe holiday season!

Anthony Vulin

Anthony Vulin III’s Thanksgiving at the Beacon House

2005-11-29T15:02:00.000-08:00

Anthony Vulin III’s Thanksgiving at the Beacon House

I started my Thanksgiving morning in my hometown, San Pedro. I grew up in Palos Verdes but went to school in San Pedro. My father and I arrived at the Beacon House at 10:30 AM, Thanksgiving morning. It’s a tradition of ours. We had a wonderful time serving food to the homeless and to members of the Beacon House. If any one is looking for a great charity to support, I highly recommend The Beacon House of San Pedro. I had a wonderful time meeting the mayor of Redondo Beach, Mike Gin http://www.mikegin.com , and Assembly woman Betty Karnette, http://www.bettykarnette.org . Maybe I’ll see you there next year!

The Beacon House Association of San Pedro was founded in 1974 as a private non-profit California corporation, with the purpose of providing a peer-oriented, residential recovery program for men whose lives had become unmanageable due to alcoholism or addiction.
The Beacon House philosophy is that alcoholism/drug addiction is a disease which is treatable. We believe that a kind and caring home environment and a sound recovery program are essential to the recovery of many alcoholics.

The Beacon House Association of San Pedro
http://www.beaconhouseassociation.com/
1003 S. Beacon StreetSan Pedro, CA 90731
Voice: 310-514-4940Fax: 310-831-0070E-mail:
info@beaconhouseassociation.com

Psychology for Your Home: Creating the Harmonious Living

2005-11-22T10:19:00.000-08:00

Have you ever walked into a home, hopefully not yours, and felt immediately uncomfortable? It could be because design psychology was not considered when the home was decorated.

"Design psychology helps you to create a home to support your emotional needs," says Jeanette Fisher, design psychology professor and founder of Joy to the Home.

Sounds like you need to be lying down on a couch to grasp the concept in this newly-emerging field. Regardless, of the name, the concept is changing the way people feel in their homes. The premise of design psychology is to fulfill the users' emotional needs and not just decorate based on aesthetics.

"I studied interior design at Orange Coast College years ago and then we moved to Florida and we rehabbed a big home, a 6,000-square-foot Queen Anne Victorian. After we remodeled the kitchen it didn't feel right," says Fisher.

So she went to the University of Florida and started researching interior design as she puts it, "kind of backwards."

"I took all the elements of interior design and researched how people react on a physiological and psychological level. So actually I do designs for how you feel in relation to how a design element makes you react," says Fisher.

"So you would start with what you need in a home and how you want to feel in a space and then design details to support your senses," says Fisher.

One of the biggest factors for creating moods in a home is color. Whether you're deciding what color paint to put on the walls or what furniture to use, Fisher says start with one thing in mind.

"For home makeovers you would want to start with how you want to make people feel when they first see your home. Design psychology starts at the curb because I believe that the whole home is important, not just the interior. That's why I don't like to say it's interior design; it's residential design," says Fisher.

The psychology behind determining what paint to put on your walls is a colorful process; certain colors typically create very specific feelings for the majority of people. The mood you convey often depends on how the color is used.

For instance, painting an entire room red can make people feel anxious and can even elevate blood pressure. Yet using red as an accent in a room can be an attention grabber, make people lose track of time and even stimulate their appetite. Red, of course, is symbolic of love, heat, fire and passion.

Various shades of green symbolize nature and are becoming increasingly popular in home décor. Green is believed to be an easy color on the eye, provoking a neutral effect on the nervous system; think of the "green rooms" that are designed for people who are waiting to appear on television. Dark greens typically represent wealth and masculinity, while an olive green represents peace.

Some colors, such as bright yellow, should be used very sparingly. Researchers claim it's not an easy color on the eye. An entire room in yellow is fatiguing and can cause babies to cry and adults to become irritable. However, if used as an accent it can create a warm, vibrant, alert mood.

Before you paint, be sure to test out your emotional response to various colors. See if the feeling you get from viewing the colors matches the mood you wish to create for a particular room.

For more information on design psychology visit joytothehome.com.

Written by Phoebe Chongchua
November 21, 2005

Congratulations!

2005-11-22T08:08:00.000-08:00

Anthony Vulin has been featured on BlogPulse this week at #28 as one of the BIGGEST MOVERS in the blogosphere. Check it out here: http://www.blogpulse.com/05_10_19/keyPeople.html

BlogPulse is an automated trend discovery system for blogs. Blogs, a term that is short for weblogs, represent the fastest-growing medium of personal publishing and the newest method of individual expression and opinion on the Internet. BlogPulse applies machine-learning and natural-language processing techniques to discover trends in the highly dynamic world of blogs. BlogPulse is brought to you by Intelliseek.

Deborah Gibson Concert

2005-11-15T13:32:00.000-08:00

Hey everyone...

Our client Deborah Gibson has a concert comming up that I thought you all might be interested in! I am going to be there, she is a great preformer! Check her out at www.deborah-gibson.com for more details!

Congratulations!

2005-11-14T15:12:00.000-08:00

Over the weekend Anthony Vulin was elected to the board of the Lesbian and Gay Chamber of Commerce. Check out their website here: http://www.balaweb.org/

The Organizing LA Blog

2005-11-14T11:40:00.000-08:00

Organizing LA is a very cool BLOG on the web about tips & tactics to organize your life & environment! Our friend Professional Organizer John Trosko discusses all sorts of trends and tips on organization that I feel would be great for everyone to check out. ALSO today he posted about a house in Mar Vista with a great movie tour of the home... John proclaims it is a "professional organizers dream". Check out the tour and his BLOG... Definitely one of our favorites!

http://www.organizingla.blogs.com/

organizing LA article

Finding and Keeping that Second Home in Mexico

2005-11-10T11:12:00.000-08:00

In 2003, the National Association of Real Estate Editors held its spring conference in San Diego. That conference included a bus trip southeast of the central core of Tijuana, Mexico, where Casas Geo, one of Mexico's largest residential developers, was building El Dorado, a 4,500-unit condominium project.

For $30,000 U.S., a buyer could get a 460-square-foot, three-room condo with the basics: overhead light and electrical outlet in every room, a kitchen, and a bathroom.

Casas Geo's target buyer -- a worker in a factory owned by a multinational corporation -- earned $550 to $1,100 a month. The typical monthly payment on a $23,000 mortgage is $150.
At the same time Casas Geo and other residential developers have been working overtime to bridge the affordable housing gap for Mexico's citizens, Americans began looking south of the border for a less-expensive warm-weather retirement than was possible in Florida or California.
What started as a trickle has turned into a flood, with a large percentage of the one million Americans who are buying second home in other countries heading to Mexico, not only Baja California, but Bahia de Banderas and Manzanilla and a number of other destinations.
Until about six years, it was easier and safer buying property almost anywhere else. There wasn't much information available to buyers, who tended to have to take the word of often unscrupulous real estate agents and developers, resulting in well-publicized cases in which Americans lost their money.

What has made ownership easier, according to the authors of Cashing In On A Second Home in Mexico (Crabman Publishing, $19.95) is that the Mexican market has become more accommodating to buyers north of the border.

Mexico's real estate markets have changed, real estate agents have developed a mindset favoring security and disclosure for purchasers and American buyers have become much better informed and educated," say veteran real estate writer and radio host Tom Kelly and Mitch Creekmore of Stewart International, a recognized expert in on Mexican property.

The changes have been brought about primarily by the Mexican dependence on tourism and foreign investment in real estate, Kelly and Creekmore say. Real estate deals have become more transparent, shifting from "that's the way we do business here" to using extended title searches, issuances of commitments for title insurance, third party escrow and closing rights, "and ultimately, title insurance policies guaranteeing one's right of ownership, whether fee simple in Mexico's interior regions or entitlement via the bank trust or a Mexican corporation for foreign purchases in a restricted zone."

The two men also think we've gotten smarter as buyers, owing to how important real estate is to our financial health and that of the economy.

Why is Mexico so attractive? Life can be laid back and relatively inexpensive. On the back jacket of the book, the authors quote AARP the Magazine: "For $600 a month, retirees can live in a three-bedroom home, with a gardener. For a cool thousand … well, you won't believe it."
But although buying in Mexico is becoming easier, the nuances aren't all that obvious. You may be able to speak high-school Spanish, but, as with English, words can have more than one meaning, and those meanings can reflect the effects of the culture.

That's why this book is as important to the first-time American second-home buyer as the Boy Scout Manual is to the tenderfoot.

Take the word "ejido," which means "communal." The ejido is an old communal farm formed when farmers in every Mexican village were given property to form a co-op. Under the Mexican constitution, the ejido is worked by everyone and owned by no one, which means that a foreign buyer cannot own it because the individuals who have a beneficiary interest in the land can't legally sell it.

A constitutional amendment allows the ejido to be converted to private land for sale that would benefit all of the users, or ejidatarios. The problems for American buyers occur when an ejido that hasn't been privatized properly is sold. The buyer has simply bought property that shouldn't have been sold in the first place, and the investment is lost.
Kelly and Creekmore guide you through the nuances of ejidos and other legalities peculiar to Mexican real estate investments. They also present real life experiences of American buyers, both good and bad, and serve as tour guides to popular destinations to help you make an educated decision.
It's true that much of this information can be found on the Internet. The difference is, of course, that Kelly and Creekmore have the kind of expertise that will help you sift through all of that information and make the kind of informed decision that will allow you to make a safe and sane investment in Mexican real estate..

After all, it is your money and you've worked hard for it. Spending $19.95 to protect your hard-earned cash is certainly worth it.

Related Articles:

New Book Tells You How to Survive Market
Perhaps an Energy Audit Before You Buy?
Old-house Owners Need to Keep One Step Ahead
It Takes Two to Get a Remodeling Job Done
And the Survey Shows -- Everything Is Okay

Written by Al Heavens
November 10, 2005

The Millennium Team is in the Press Again

2005-11-08T14:07:00.000-08:00

The Millennium Team has been featured in a very hilarious article on Curbed...

Check it out: LA Curbed

JUST REDUCED and OPEN SUNDAY!

2005-11-08T10:36:00.000-08:00

Just Reduced to $749,000

Open Sunday from 1-4 PM

Recently remodeled spanish style home in Silverlake area. 4 bedrooms and 3 bathrooms. Large Corner lot. Large Kitchen and dining room. Laundry room. New windows and stucco. PRICED TO SELL!!! New lawn and sprinklers are installed. Close to Sunset Junction area! Zoned LARD1.5 Recently appraised at $830,000!!! Open Sunday 1-4 PM!

More Pictures at TheMillenniumTeam.com

Join the Game, But Know the Real Estate Investing Rules

2005-11-08T10:30:00.000-08:00

It seems like the dream job -- buy real estate, sit on it until the price goes up enough and then sell it off and walk away with a nice profit. The frenzied market we've been experiencing is luring many people to invest their hard-earned cash in the business of real estate.

While prices soar in many cities, the vision of an overnight success is dancing in new investors' heads. The idea of making a quick buck is drawing wannabee investors to real estate seminars, the internet, open houses, and cities all over the country where cheap property can be snatched up.

In New Orleans, speculators, both experienced and inexperienced, are hoping to turn a profit by purchasing land before the redevelopment of the city begins.

"If you had a crystal ball you could become a millionaire because it could be something that will have phenomenal windfalls or it could be something that will never come to fruition," says radio host Norm Bour of The Real Estate and Finance Show.

An unrealistic expectation is a problem that causes many newbie investors to decide to give up on real estate before they have a chance to turn a profit. They often think that buying a fixer-upper will be an easy project to take on and then turn around and sell. Sometimes that's the case, but often there are many challenges that beginning investors don't consider. Cabool, Missouri resident, Matt Peterson, his brother-in-law and father-in-law recently finished fixing up a foreclosure home they purchased in Ava, Missouri.

"I had built my house, my father-in-law had built his, and my brother-in-law had built his. We thought we could go in and fix this up a little bit, but it wasn't that easy," says Peterson.
Peterson says it took them longer than expected -- about six months to finish work on the 4,500-square-foot house that is more than 100 years old.

Now, in hindsight, Peterson says he'd do a little more research before buying a property and he'd consider using experts to get the job done.

"I would look a little closer at the property and the potential it had for profit and factor in contracting all the work out. I mean I can do some of it but with the job that I have now, I don't have the ability to work five days a week on a house [when] the payoff comes later when we sell the house. I need to be able to support my family. I would look at trying to contract it all out if I were to do it again," says Peterson.

He also says that he'd try to have a buyer in mind for the property. The property that he just finished has still not sold, although it is being rented with a rent-to-own agreement.

"[I would] look immediately to sell; maybe have a buyer in mind and make sure that he has the financing lined up beforehand. We kind of had trouble with that on this project. [The tenants] said they wanted to buy the house but they haven't been able to secure the financing so they're still renting," says Peterson.

Real estate attorney and author, William Bronchick says common sense and education are the most important tools in real estate investing.

"J Bronchick says there are three basic tips that will help beginner investors not lose money. First he says, when deciding what property to buy, go with a single-family home.

"Single family homes tend to be pretty hands-off and the tenants tend to be a little more responsible than the apartment type tenants," says Bronchick.

His second tip is to buy houses that are slightly below the median price because that market tends to be less volatile.

"Let's say the median price in the city is $250,000, if you look at $350,000 or $450,000 houses, those are the people who are middle class, gainfully employed, white- collar people," says Bronchick.

But the people living in $200,000 homes and under are the working-class people who typically make $10 to $15 per hour. If there was a job-related market crash, the higher income families might be forced to take a step down in house size; so there is typically a good pool of renters for the slightly-below-median-housing market even in a challenged economy.

The lower income bracket usually can find work.

"There are always jobs for those people. If they can't wait tables they'll get a job doing something else; so there is always going to be an income for those people in almost any market," says Bronchick.

His third tip is to buy in major metropolitan areas rather than purchasing property in undeveloped, suburbs or vacation areas. Bronchick says population trends show that people are looking to be in cities and areas that are centrally located and developed, especially because of the rising gas prices.

Related Articles:
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Customer Service Growing Trend in Home Building
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Written by Phoebe Chongchua
November 7, 2005

Pending Home Sales Index Close to Recordby NAR

2005-11-04T14:39:00.000-08:00

WASHINGTON (November 3, 2005) – Pending home sales, a leading indicator for the housing sector, eased slightly but is at the second highest level on record, according to the National Association of Realtors®.

The Pending Home Sales Index, based on contracts signed in September, slipped 0.3 percent to a reading of 128.8 from a record of 129.2 in August, and is 3.3 percent higher than September 2004.

The index is derived from pending sales of existing homes. A sale is listed as pending when the contract has been signed but the transaction has not closed; pending home sales typically are finalized within one or two months of signing.

David Lereah, NAR's chief economist, said the index shows a lot of momentum. "We're still seeing a post-Katrina boost in home sales activity, where the needs of displaced residents are supplementing a fundamentally strong market," he said. "Aside from this temporary lift, the market is entering a period of transition in which we will see a somewhat slower but more sustainable pace of home sales -- a period that is expected to be historically healthy. This will help to create a better balance between home buyer and sellers, so price appreciation should be cooler as well."

View PHS Index here

Many post-Katrina sales in the region surrounding the disaster zone were bulk sales by companies that were obtaining housing for employees; some of those sales closed quickly in September with others expected to be recorded in data for October and November.
An index of 100 is equal to the average level of contract activity during 2001, the first year to be examined. 2001 was the first of four consecutive record years for existing-home sales, with activity in that year being fairly close to the higher level of home sales projected for the coming decade relative to norms during the mid-1990s. A Pending Home Sales Index of 100 coincides with a historically high level of home sales.

Regionally, the highest PHSI was in the South where the index slipped 1.6 percent in September to 139.1 from a record in August, and was 6.3 percent higher than September 2004. In the Northeast, the index rose 1.8 percent to 110.4 in September and was 0.8 percent above a year ago. The Midwest index rose 0.3 percent to 119.7 in September, and was 0.4 percent below September 2004. The index in the West held even at a level of 136.7, and was 3.6 higher than a year ago.

The National Association of Realtors®, "The Voice for Real Estate," is America's largest trade association, representing more than 1.2 million members involved in all aspects of the residential and commercial real estate industries.

Published: November 4, 2005

Real Estate Market Conditions for Los Angeles, November 2005

2005-11-01T23:13:00.000-08:00

Wow, what a change the market has taken in Los Angeles in recent weeks. Its been long overdue. The market in LA is finally a "normal market". The busy Summer season is over and the Winter Holidays are quickly approaching. Homes are not selling in less then 30 days any more. The average for a single family home is about 90 days now. On the other hand, condos are selling in less than 45 days. With the recent rise of mortgage rates to about 6.25% for a 30 year fixed, from about 5.75% a few weeks ago, the purchasing power of buyers have gone down almost 10%. That's huge! Not only will the Los Angeles real estate market have to adjust to this change, but all real estate markets will. I think this type of market is going to be around for the next year or so, partly because mortgage rates are expected to hit about 7% by the end of next year. I still think if you had to say if it was a buyer's or seller's market, I would call it a seller's market. Prices are still high but are slightly negotiable now. Please feel free to write me and The Millennium Team at info@TheMillenniumTeam.com For more info about the LA market and the listings that I am working on, please visit us at www.TheMillenniumTeam.com As always, thanks for reading and I look forward to working with you one day! Let your friends know about me as well! Anthony Vulin III www.LARealtorToTheStars.com.

A Foreclosure Buyer's Guide to Property Repairs

2005-10-31T16:19:00.000-08:00

A Foreclosure Buyer's Guide to Property Repairs

By Rick Sharga, Vice President of Marketing for RealtyTrac

One of the most overlooked and underestimated expenses involved in the purchase of a home is the cost of repairs. Whether the problem is a defective part in an appliance, a structural problem overlooked by the home inspector or just Murphy’s Law making its presence felt, it’s rarely the case that someone can buy a property and move in without spending at least a few dollars to fix, repair or replace something.

While these types of expenses are generally minimal in new homes and well-kept resale properties, they can be fairly significant when the home in question is a foreclosure property.

As housing prices have escalated over the past few years, more and more people have started to look at foreclosure properties as an affordable alternative to more traditional real estate purchases. It’s not unusual for a buyer to acquire a foreclosure property for 10 – 20% less than full market value, and sometimes at much more dramatic discounts of 40 – 50% or more. And online sources such as RealtyTrac make it easier than ever to find foreclosure properties. But while the savings possible on foreclosure properties are real—and really attractive—there are sometimes hidden costs involved.

One of these hidden costs is the cost of repairs. Foreclosure properties come in all shapes and sizes—from run-down mobile homes to palatial estates overlooking the ocean. But they all have at least one thing in common: their owner was in some state of financial difficulty. Generally, this means that a property in foreclosure may not have been kept up as well as a home buyer might like. It’s nearly a certainty that the typical foreclosure property hasn’t benefited from the type of pre-sales “fix-ups” that many homeowners perform to increase the sales price of their homes. And, as a rule, most foreclosure properties are offered “as is,” leaving it up to the buyer to find anything physically wrong with the property.

Is it worth saving 1% on a home purchase if it means doing extensive repairs? Probably not, for most people. On the other hand, saving $20,000 on the purchase may make it worth your while to invest in home repairs.

Determining the degree of disrepair can be something of a challenge as well. Early in the foreclosure process, when an owner is in notice of default, he or she may not be interested in discussing the sale of the home, making it impossible to do a thorough inspection. At the auction, or notice of trustee sale (NTS) phase, bidders are generally required to buy the property as is, at the courthouse. And once the home has been foreclosed on by the bank, becoming a Real Estate Owned property, arrangements to inspect the property often need to be made with the lender.

“Foreclosure properties certainly present an attractive bargain, and often the amount of money needed to repair a foreclosure home is inconsequential compared to the possible savings. In fact, many successful investors have made a career buying, rehabbing and then selling these types of properties at a significant profit,” says Jim Saccacio, chief executive officer for RealtyTrac the leading online marketplace for foreclosure properties. “But buyers do need to be diligent about determining the repair costs that will be incurred after the purchase. A property isn’t really a bargain if the cost of repairs equals or outweighs the savings on the purchase.”

Many investors routinely budget 10% of the purchase price of a foreclosure home for repairs. In a typical scenario, where a property with an estimated market value of $150,000 might be sold during the foreclosure process for $120,000—a 20% discount—that would amount to a repair budget of $12,000. In this scenario, the homebuyer still saves $18,000 on the purchase price, and likely increases the value of the home by doing the repairs. Each property, and each situation, is different. But it’s important to note that a difference of 10% in either the discount or repair costs would dramatically alter the financial outcome.

Example 1

Estimated Value: $150,000
20% Discount: $ 30,000
Purchase Price: $120,000
10% Repair Budget: $ 12,000
Total Cost: $132,000

Total Savings: $ 18,000

Example 2

Estimated Value: $150,000
10% Discount: $ 15,000
Purchase Price: $135,000
10% Repair Budget: $ 13,500
Total Cost: $148,500

Total Savings: $ 1,500

Example 3

Estimated Value: $150,000
20% Discount: $ 30,000
Purchase Price: $120,000
20% Repair Budget: $ 24,000
Total Cost: $144,000

Total Savings: $ 6,000

If you’re interested in buying a foreclosure property, the following tips should help ensure that you’ll really get your money’s worth.

1. Physically Inspect the Property

It’s imperative to physically inspect the property if at all possible. In some cases, such as auctions, there is little or no possibility of an inspection. However, if you are able to negotiate a deal with the property owner directly during NOD, or pre-foreclosure, it may be possible to set up a walk-through prior to conducting the sale. During the pre-foreclosure period, the owner has a chance to sell the property or pay off the amount owed before the property is sold at public auction or repossessed by the bank. You’ll also be able to set up a physical inspection if you purchase the property directly from the foreclosing bank after the property has been repossessed. You can locate pre-foreclosures, auctions and bank-owned properties by checking with the local recorder’s office or through online services like RealtyTrac, which maintains the nation’s largest database of foreclosure properties.

If you’re not able to physically inspect the inside of the property, assess the property’s condition as much as possible by driving by and looking at the exterior. Add extra padding into your repair budget for unexpected problems. When there is no physical inspection of the interior, most experts recommend that you cap your purchase price at no more than 70% of the property’s estimated market value. You can determine a property’s estimated market value using comparable sales, which are available through MLS listing from your real estate agent.

You should never assume the property is in move-in shape simply because the owner says it is. Even if the home owner is being completely honest, he or she probably isn’t as accurate or objective in assessing the condition of the home as most real estate professionals would be. And an owner may be completely unaware of a major problem with the home. The bottom line is that you need to do your own research and be as thorough as possible.

It’s wise to hire a professional inspector to come along with you. The trained eye of a professional inspector is priceless in this case because, regardless of how diligent you are in previewing the property yourself, you will undoubtedly miss items an inspector would catch. Make sure the inspector checks the electrical wiring and moisture levels, as well as asbestos, lead and carbon monoxide levels, especially in homes built prior to the 1990s.

2. Note Every Detail that Needs to be Fixed and the Estimated Cost for Each Repair

Have your inspector provide a list of all necessary repairs and, if possible, a ballpark estimate for what each of the repairs might cost. You can also ask the inspector for professional referrals for each individual problem area (roofing, plumbing, etc.). You can check with those professionals for approximate costs. Either way, you’ll know the true cost of the property you are buying.

If you find that your repair list is quite lengthy, you may want to reconsider whether the property is actually worth purchasing. If you’re dealing with home owners in default, you can’t expect them to have the resources to pay for any repairs before they sell the house, but you can use the cost of repairs to negotiate a lower purchase price. That’s why it’s imperative that you accurately document every single repair cost.

If you buy a bank-owned property, the bank will have the resources to make repairs, but they will roll their repair costs into the price of the house. And the bank may not be as motivated as you to get the best prices for the necessary repair work. If you want the best bargain, you’re often better off agreeing to buy the house “as is” from the bank.

3. Distinguish Between Cosmetic and Structural Repairs

While you may be completely correct that the property could use a new coat of paint and some fresh carpeting, your first concerns should be structural. For most people, this can be tough because it’s inherently difficult to look beyond a home’s aesthetic appeal when deciding whether or not to purchase it. Beyond that, most people don’t really know how to determine the structural integrity of a property, unless the defect is so obvious that the home probably shouldn’t even be considered for a purchase. This is yet another reason why it’s imperative to hire the services of a professional inspector: to keep you on task when determining what repairs the property actually needs to make it suitable for living.

Especially with older properties, another point to consider is that homes do require a certain amount of ongoing maintenance. It’s expected that any home will at some point need a new roof or appliances. Don’t let this cloud your judgment or turn you off. Instead, focus on signs of necessary repair such as leaks in the roof or other damage. Make sure all appliances are at least in working order and not emitting dangerous fumes. Overall, you should be more concerned with damage than age.

This is not to say that cosmetic repairs shouldn’t be taken into consideration. However, they should be prioritized properly, so that any repairs that make the property safe and livable are taken care of first. Your goal should be to prioritize a list of repairs from most to least crucial. You can use the information for negotiation and keep yourself on track for what should be handled first when you purchase the property.

The bottom line: know what your priorities are. Remember, while that gold-colored crown molding might be an eyesore, replacing it won’t make you sleep any better on a rainy night under a leaky roof.

4. Get as Much Information from the Owner as Possible about the Property’s History

Aside from the tips mentioned, it’s a good idea to get some history on any home you are thinking about buying. Actually talking with the owner of a property about what has been done to it over time is a great way to learn about potential flaws or concerns to look out for. You should ask what repairs have been made and when, as well as whether any structural changes have been made and whether these changes were permitted under the local building codes. Inquire whether the seller has paperwork to back up repairs that have been made. This information may alleviate suspicions you have about repairs that have supposedly been made and may also be helpful when applying for home insurance for the property.

Of course, you’ll only have the opportunity to talk with the owner if you’re purchasing pre-foreclosure. If you buy at the auction or from the bank, you’re buying from a third party who has no knowledge about the history of the property.

It’s important to estimate the cost of repairs when you purchase a foreclosure property, but your strategy for estimating those costs will vary depending on the status of foreclosure. You’ll usually have the most accurate estimate when you buy directly from the owner during pre-foreclosure because you’ll be able to conduct a complete physical inspection and find out information about the property’s history from the owner.

If you buy a bank-owned property, you’ll still be able to perform a complete physical inspection, but you should allow for a little extra room in your repairs budget because you won’t be able to find out about the property’s history. You’ll need to pad your repairs budget even more if you purchase a property at public auction, where you usually won’t be able to physically inspect the inside of the property.

When you properly account for the repair costs when buying a foreclosure, you’re much more likely to realize a great bargain on your next home or investment property.

Open House This Sunday

2005-10-27T11:02:00.000-07:00

ONLY $253 PER SQ FT AND ON 11TH FAIRWAY OF THE LA QUINTA RESORT & HOTEL'S DUNES COURSE! THIS 3077 SQ FT 3BD, 3BA MASTERPIECE HAS BEEN EXPANDED AND COMPLETELY REMODELED INCL. NEW ELECTRICAL, A/C , ROOFLINE AND IS MOVE IN READY FOR YOUR MOST DISCRIMINATING BUYER. BOASTS A HUGE KITCHEN WITH TOP GRADE GRANITE, DUEL SUB ZEROS, FISHER & PAYKEL D/W, THERMADOR OVENS AND WINE CLOSET. OUTDOOR ENT. AREA WITH VIKING GRILL AND SUB Z. MEDIA ROOM W/BOSE SYSTEM AND MUCH MORE!

LISTED AT $779,000 AND OPEN THIS SUNDAY FROM 1-4 PM

Open House This Sunday

2005-10-27T10:58:00.000-07:00

Real Estate Bubble: A Self-Fulfilling Prophecy?

2005-10-26T08:32:00.000-07:00

There are plenty of naysayers about the real estate market and its unprecedented growth. Las Vegas-based ReviewJournal.com, for instance, has given cyber-print on a report by Doug Fabian, president of Fabian Wealth Strategies and Josh Lewis, first vice president at Santa Ana, Calif.-based Stearns Lending. The report, "Boom to Bust," says the following issues about current homeownership points to a possible bubble:

Non-owner occupants are now buying more than 25 percent of all homes.

Households are allocating a greater percentage of income to housing than ever before.

More houses are being purchased with no down payment. People are buying primarily because of the expectation of appreciation.

The majority of today's loans involve some combination of adjustable-rate mortgages, interest only or negative amortization.

The report states, "This layered risk will result in a major increase in foreclosures, which will bring the total housing market down in value." Unfortunately, this report brings up nothing new: people have been buying real estate for decades in anticipation of appreciation; also, during those years, households have been allocating a greater percentage of income to housing; and zero percent down payment mortgages have been around for just as long -- all of these factors have been true for the last 20 years.

Now take this report and compare it to the 2nd Quarter 2005 report issued by the U.S. Department of Housing and Urban Development on U.S. Housing Market Conditions and you see a different picture:

The housing sector continued to be a major contributor to the U.S. economy during the second quarter of 2005.

New records were set for single-family permits, new home sales, and existing home sales.

Interest rates remained at less than 6 percent, but the challenge to affordability for new homebuyers grew.

Compared to the most recent quarter, the median sales price of an existing home rose by 10.3 percent, and was 13.7 percent higher than a year earlier.

Compared to the second quarter of 2004, permits for new homes were up 2.1 percent.

Construction starts were up 4.6 percent.

New housing completions increased by 4.7 percent.

Sales of existing homes and new single-family units rose, by 4.6 percent and 10.2 percent, respectively.

Permits and new starts for multi-family units slowed after the first quarter of 2005, but remained stronger than in the second quarter of 2004.

So why all this good news on the housing front -- basically, the economy is growing. And that, my friends, is why you have to second guess the concept of a bubble in the real estate market.
We've become accustom to the use of "bubble" because of the drop in the stock market of 2001, following unprecedented growth in several exchanges. The difference is that the stocks that inflated the bubble on the stock market were based on the founding of companies on investment money in hopes of finding the next internet-based fortune not on the actual production and profit-making of consumer products.

The inflation we are seeing in the housing market is because of economic growth, more jobs, population growth and the local jurisdictions not providing enough housing for this growth. It's pretty simple -- if you grow the economy, you must grow the housing base. However, in the last five years, metropolitan regions have taken the slow growth or limited growth approach to providing housing instead of pushing for more affordable housing in high density projects.

When the economy slows in any given jurisdiction is when you'll see trouble in your real estate market. For instance, in the Washington, D.C. area, home to the hottest employment growth in the country, the region is projected to create more than 82,000 jobs in 2005, according to the Center for Regional Analysis at George Mason University. However, the Center points out local builders are only allowed to put up about 35,000 houses per year.

If you're bringing in 50,000-plus new jobs into an area every year, but only build 30,000 houses -- is that a bubble or a true reflection of the supply and demand of housing? You be the judge.

Mr. Carr has covered real estate since 1989. He is the author of "Real Estate Investing Made Simple." Got a personal real estate issue? Questions can be posted at The Millennium Team's blog.

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Get A Grip, Lock That Rate

2005-10-24T09:01:00.000-07:00

Rate locks are key to keeping the lid on lending costs when interest rates begin to take off -- as they have for the past month and a half.

Since Sept. 8, when the average fixed interest rate on 30-year conforming mortgages was 5.71 percent, rates have risen for six consecutive weeks, adding 0.39 percentage points to the average.

That pushed the average mortgage interest rate to 6.10 percent on October 20, according to Freddie Mac's Weekly Primary Mortgage Market Survey.

The six-week run up in prices was the longest sustained week-after-week increase in average interest rates since spring of last year when rates rose for eight consecutive weeks. From 5.38 percent in March 2004, they rose to 6.34 percent by May, 2004.

What's more, the 6.10 percent average rate is the highest it's been since July 1, 2004 when it averaged 6.21 percent, Freddie Mac said.

"Anytime rates go up, rate locks are an issue. If you don't lock in your rate, then your rate is floating with the market," said Jack Guttentag, the "Mortgage Professor" and finance professor emeritus at the University of Pennsylvania's Wharton School.

A traditional rate lock is a lender's guarantee that your mortgage carries a specific interest rate, points, and other terms.

The lock is good for a specified period -- if you fail to complete your home purchase or refinance before the clock runs out, and interest rates rise, brace yourself for a higher rate.

If you qualify for a given rate as the maximum the lender will allow you, and interest rates rise during escrow, you could have to add cash to the deal, be priced out of the market or have the lender turn on you.

"This is mainly a problem with a home purchase because a home buyer has so much at stake and is at the mercy of the market price as defined by the loan officer. If you get to closing and find someone has been playing games and things are not what you agreed to and you don't have a rate lock, you are in a vulnerable position. If you are refinancing, you have options, at least in principle. You don't lose the house if you don't close on the scheduled date," said Guttentag.

If interest rates fall during the lock period you can't take advantage of the lower rate unless you rewrite the lock and perhaps pay additional costs.

The exception is a rate lock with a "float down" option to grant you a lower rate if rates fall within a given window of time. Again, unless specified otherwise, float downs stick you with the higher rate if rates rise during the lock period.

While most locks are designed to protect borrowers from rising rates, but everything depends on the language in the rate lock agreement.

Get it in writing

"There are two kinds of locks. The written lock and the verbal lock. If it's a verbal lock they'd better be your best friend. When rates go up, if he or she didn't lock it in with the lender you are out of luck. If you are going to be careful say, 'Could you write this down?' said Earl Peattie a mortgage expert from Hartford, CT.

In some cases, if the loan doesn't close on time, lenders may automatically extend your lock, say until the loan closes, but that's an option that's less likely in a rising rate market. Other lenders may give you a temporary extension and you'll have to pay fees beyond that. Still others may charge you a percentage of the loan amount for the extension.

The many scenarios make a written contract mandatory!

The contract should lock in as many costs as possible, the interest rate as well as points. The agreement should include your name; the lock's effective date; the agreement's effective date; lock cost, if any; what rate and other loan terms are locked; the lock's expiration date and time; and any post-lock options.

Lock as soon as you see the desired rate or "on application" -- when you first apply for the mortgage -- so that your rate is locked as you spend time getting the application approved. That's particularly important if you barely qualify at today's rates and an increase would make buying unaffordable.

"(Without an agreement) Some lenders set the rate when the loan closes. When rates are going up, this is something your certainly want to pay attention to. Otherwise it could cost you $10,000, $15,000, or $20,000 (over the course of the loan), easily," said Peattie.

Lock periods should be long enough to allow for settlement, contingencies, and other potential delays. Locks average 30 days, but range from 15 to 60 days.

Before choosing a lock-in period, determine the average time for loan processing. Ask your lender to estimate the time necessary to process your loan.

Once you lock-in a rate, make sure your loan is approved and closed before the commitment expires. Quickly submit the application and other required documents.

Locks cost money. Shop around for both the terms of the lock contract and its cost. Some lenders charge an up-front, non-refundable fee even if the loan doesn't close. Others might levy the fee at settlement. The fee could be a flat fee, a percentage of the mortgage amount, a fraction of a percentage point or a higher interest rate. The cost could vary depending upon the length of the lock-in period, the options you choose and mortgage program.

If you have a floater, it's up to you to keep an eye on the market.

Written by Broderick Perkins for Realty Times

October 24, 2005

Open House this Sunday!

2005-10-21T16:35:00.000-07:00

OPEN SUNDAY FROM 2-5 PM

MORE PICTURES

Gardening 101 - Tips to HELP your garden!

2005-10-21T14:20:00.000-07:00

If you're into gardening, and even if you're not, there is one technique that you might want to get the skinny on and that's mulching. True that winter is approaching, but it's never to late to learn.

But before you say you don't have a green thumb, keep this in mind: mulching is an easy technique and one that might help your garden grow a lot better -- better than you could ever imagine.

"It's something that everyone should do," said Jack Bennett, owner of The Bird of Paradise Landscaping in Lake Forest, Calif. "It's easy and it can be inexpensive at the same time."
Now that the word hasn't frightened you too much, and you've decided to pull on the old gardening gloves here's a few pointers to help. First of all, "mulch" refers to a material placed on the soil's surface, which can be anything from old leaves to egg shells, Bennett said.

How Mulches Help

Also a simple layer of mulch may help prevent the germination of many weed seeds, reducing the need for cultivation or the use of herbicides. Mulches also help moderate the soil temperature and retain moisture during dry weather, reducing the need for watering, Bennett mentioned. Mulches can also protect the soil from the impact of raindrops that can cause crusting, which can prevent the germination of seedlings.

Most mulch products provide these benefits, but organic mulches -- such as compost or bark -- can be especially beneficial because earthworms and other soil life gradually break them down, mixing them into the soil to nourish plants.

"Often, people will mix a combination of old leaves, trees or shrub remnants with egg shells, banana peels, their trash … just about anything to create mulch," Bennett said. "Everything works within reason."

True, while there are many types of mulch, organic mulches such as wood chips, grass clippings, or other locally available materials help improve the soil by adding organic matter as they decompose. They also may encourage the growth of beneficial soil organisms that can help improve soil structure and the availability of nutrients for plants, Bennett explained.

Mulches can be used to enhance the look of your garden, too. Many bark mulches provide a uniformly rich brown color that contrasts with the plants. The mulch also helps keep plants clean by reducing the splash of soil onto leaves during rainstorms, and helps infiltration of the rainfall into the garden.

Choosing a Mulch Material

If you are most interested in weed control in a vegetable garden, a layer of newspaper covered with grass clippings or just grass clippings will work well. However, if you are finishing off a beautiful perennial garden in the front of your house, you probably will want to use something more attractive such as bark mulch, according to the nursery department at your local Do-It-Yourself store.

If you are mulching around shrubs that will remain in place for years, you may want to use inorganic mulches such as brick chips, marble chips, or stone. While these will not provide organic matter to the soil, they will be permanent. Note that they are difficult to remove if you change your mind or want to add bulbs or perennials.

Mulching does not need to be expensive. Some communities offer chipped wood or compost to residents, which they might hand-out free during certain times of the year.

Leaves, newspaper, and grass clippings are also inexpensive mulches. To be effective, most organic mulches need to be between 2 and 4 inches thick, Bennett said.

Regardless of which type of mulch you choose, your garden should be a lot healthier and easier to maintain know that you know the ins and outs of mulching.

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Remodeling Homeowners Face Quandary

2005-10-20T15:59:00.000-07:00

Home owners who are remodeling customers are in a quandary.

Most of them are satisfied with their remodeling contractor, but nearly the same amount are not.

That dissatisfaction comes at a time when more and more home owners are counting on remodeling to improve the value of their existing home, often because they can't afford to move up to such a home.

Two studies addressing the quandary, indicate that it behooves home owners to choose contractors carefully. A good start is seeking referrals to licensed and qualified contractors only from friends, family members, co-workers, colleagues, and other trusted individuals who've recently enjoyed a satisfactory home remodeling project.

First, the recently released Qualified Remodeler Magazine's 2005 Homeowner Satisfaction Survey of more than 750 remodeling customers, found that while 52 percent of them would hire the same remodeling contractor again, 48 percent of them would not.

The survey, conducted this spring by marketing, consulting and lead-generating firm Renex Inc. also found while 55 percent would refer their contractor to a friend -- indicating some of them are referring contractors they wouldn't use again -- 45 percent would not.

The magazine's survey comes on the heels of another survey by the online RemodelOrMove website and portal for those perplexed by the perennial move-up or fix-up decision.
Surveying 5,000 of it's website visitors -- those who are at least somewhat predisposed to performing remodeling work -- RemodelOrMove found that its visitors often see remodeling as an alternative to buying a move-up home.

"The data shows that homeowners are overwhelmingly leaning away from new home purchases in favor of remodeling the home they presently live in," the study says.

Sunnyvale, CA-based RemodelOrMove survey of home owners from around the nation found that those surveyed lived in their current home an average of 8.5 years, and plan to live in their current or next home for the next 18 years, on average, -- much longer than the 5 to 7 years other surveys have indicated as an average period for home owners to stay put.

"The boom in the housing market may be coming to an end. People may be at or close to their limits," said Dan Fritschen, the website's publisher who is not a contractor, real estate agent or moving specialist, but created the website after buying and remodeling several homes for his own family.

Fritschen says the cost of a new home and remodeling have both increased, but when it comes to remodeling it's an increase on a smaller dollar amount for work that could make a home more livable -- livability that may or may not come with the cost of a new home.

Fritschen's survey reveals the cost-factor is omnipresent among those in his survey.
One in four plan to be their own remodeling contractor; 60 percent will do at least a portion of the remodeling work; and 1 in 3 of those who plan to move will sell their homes without an agent.
One third of those who plan to remodel will spend 30 percent of their home's value on the project, which Fritschen says, is much higher than the industry-standard recommendation of 20 percent or less.
Fifty percent of those surveyed said they want more rooms, including dens and bedrooms. More square footage is one of the best cost-vs-value projects home owners can perform -- today, even if the new home is a bit out of line with other homes in the neighborhood, given the demand for larger homes.

Most, 60 percent, consider their bathrooms are inadequate and 50 percent want improved kitchens, again, wise choices when it comes to getting the most bang for remodeling bucks.
While home owners may be considering or making smart moves when it comes to home improvements, large numbers are not happy with the professionalism and workmanship of the remodeling contractors.

That means they may not be getting their's money worth.

Using a scale of 1 to 10 with 1 being the worst score and 10 being the best, Qualified Remodeler's survey found that overall, homeowners rating remodelers -- on professionalism, timeliness, fair price and workmanship -- an aggregate score of "poor" or 6.29.

For specific jobs, the worst level of workmanship went to exterior work (4.74); whole house work (4.21) and additions (5.85). Professionalism got the lowest scores when remodelers performed whole house work (4.95) and room addition work (5.90).

"The report indicates there are two separate worlds of remodeling activity. There are those that are well-versed in business and display a wide variety of skills ... and there are those whose skills do not match the many challenges of completing remodeling and home improvement projects. The latter group is much larger," the Qualified Remodeler report said.

To level the playing field, consumers must choose remodeling contractors with great care.

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Do-It-Yourself If You Can Do The Right Thing
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When To Avoid 'Value-Added' Home Improvements
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Written by Broderick Perkins, Realty Times
October 20, 2005

Four Questions Help Determine "Improve vs. Move"

2005-10-17T15:25:00.000-07:00

The walls are closing in. Your teenagers are warring over closet space and you long to have a real office room instead of camping out at the kitchen table. What's the best solution? Should you improve the house or move to another?

The answers to four primary questions are a good place to start in the dilemma to improve the house or purchase another. Homeowners who are happy with their current neighborhood and school district (usually the top two owner' priorities) are wise to weigh answers to the following:

1. How long do you intend to keep the house?

This initial question has impact on several levels. First, it makes little financial sense to pour money into a house only to sell it. Second, if you've ever lived around and through a remodeling project, you know that the emotional upheaval you suffer during construction needs to be offset by enjoying the benefits once the improvements are complete.

Even if you aren't thinking of moving in the near future, be sure to do the math in the following question before wading knee-deep into a project.

2. Will you be able to recoup the cost of improvements when you sell?

A real estate agent or appraiser can show you comparable properties (comps) of recent sales to determine how much if any the improvements will increase market value. If you make improvements that don't add to market value, be prepared to walk away from what you've spent especially if selling in a short period of time (less than five years on the average, depending on the type of improvement.)

3. Are the improvements you're considering logical given the age, size, and location of the house?
Just as you wouldn't install a new sunroof on a dilapidated car, making expensive additions to a house that's full of functional obsolescence makes little financial sense.

Many appraisers would tell you that it's much tougher to recoup the investment from home improvements if they aren't similar in style and design/era to the existing home. And before hammering the first nail, make sure you check the setback requirements for construction especially on rear and side lot lines. What a nightmare it would be to construct a room addition, only to have all or part of it in violation of zoning laws and/or owned in part by your neighbor!

4. Could additions/changes over-improve the house?

A house at the top of the market for the neighborhood can take longer to sell since buyers often purchase on the low side, hoping to maximize equity and improvements made over time. There are some additions that aren't welcomed by certain buyer segments.

For example, families will young children might shy away from owning a swimming pool since it's the number one cause of death for children under age five. A remodeled master suite in a third-floor loft could be undesirable if the prospective buyer/target was retirees. Even though you may want to make additions/changes based on your immediate needs and desires, it never hurts to look down stream at who a potential future buyer might be in order to avoid over-improvements you can't recoup.

By asking these top four questions, you may not have all the information you need to adequately weigh improving the house versus moving to another. But they will serve as talking points to get you focused on solving your homeownership needs in an organized and cost-effective manner.

Written by Julie Garton-Good for Realty Times

Murphy's Law for Sellers

2005-10-17T15:10:00.000-07:00

Murphy's Law states that anything that can go wrong will go wrong. Glitches in any real estate transaction are inevitable. If you are prepared, you won't be so shocked when they do. Here are some suggestions that may help:

Understand That Your Home May Not Be Worth What You Think
The biggest shock most sellers face is what buyers think their home is worth. Sometimes sellers can be pleasantly surprised, but the reality is that markets change, and home values rise and fall. Many subjective factors such as floor plan, condition, updates and drive-up appeal affect home values.

The truth is that buyers will determine the worth of your home, in this market, at this particular time, and that has very little to do with what you need to get out of the home.
People Won't Love Your Home Like You Do. You love your home and expect others to appreciate the same qualities in it that you do, but buyers have their own lifestyles, preferences, tastes and attitudes. The chances of finding a buyer who will want your home "as is" are slim to none.

In fact, buyers will look at your home with an eye to how they can make it suit themselves. They may knock out that wall where you have your prize fish tank, tear down that designer wallpaper you had imported from England and gut the kitchen where you spent so many Thanksgivings preparing dinner. All those changes cost money, so they will value your home less as they consider remodeling and decorating costs.

Remember, your home is competing against other homes with updates and features your home may not offer. Your home has to withstand the glare of scrutiny, so you must make it as competitive as possible within your means. Put it in good repair, and make sure it is spotless and clutter-free.

Sooner Or Later You Will Lose Your Temper
Your relationship with your buyer will be one of love/hate. The buyer is an adversary because s/he wants to pay the least for your home, while you want to net the most possible.

The buyer, in order to improve bargaining leverage, may pick your home apart. Many of the buyer's complaints and requests for repairs will be legitimate, but some may not. In fact, some requests can be outrageous.

Stay focused on your goal to sell the home, and keep your cool. Let your agent tell their agent yes, or no. Remember, your home can't close until everyone is happy, so be flexible and willing to compromise.

Don't let your feelings fester. If you are truly uncomfortable about anything, inform your Realtor immediately.

Unexpected Showings

Buyers aren't going to operate on your schedule. They may want to see the home at any time of the day or evening.

Your Realtor will ask you to keep your home in show condition. Don't worry that the bed wasn't made. Trust that only serious buyers will be allowed to see your home.

Buyer rudeness

Poor manners is rampant in our society. So why be surprised when buyers visit your home and leave their McDonald's cup on your coffee table? Or leave the cabinets and closet doors open wherever they looked? Or miss their appointment, expecting you to reschedule at a moment's notice?

As tempting as it may be to play Miss Manners, it's not worth passing up a good offer because the buyer had to change a dirty diaper and left it in your trash bin.

Inspections

Inspections kill more deals than any other single factor besides overpricing. All older homes have some minor and some major problems, so address the problem before it becomes a problem. Get a seller's inspection, and you'll have advance knowledge of any problems that must be fixed. A buyer who sees a favorable inspection report as part of the home marketing materials is more likely to make a fair price offer. (Note: Buyers should always have their own inspections performed.)

Last Minute Problems That Delay Closing

Service providers, from lenders to inspectors to closing agents, may cause problems, sometimes without meaning to. In some areas, closings are happening at such a rate that all service providers associated with the real estate transaction are on overload. So schedule all steps in the transaction early. Track the transaction with your Realtor so you know which steps have been fulfilled properly. Have your Realtor nudge anyone along who is late with their piece.

Written by Blanche Evans of Realty Times

NEW Listing in Silverlake 4BR/3BTH

2005-10-13T09:41:00.000-07:00

851 North Hoover Street, Los Angeles CA (Silverlake District)

4 Bedrooms

3 Bathrooms

Large Corner Lot

Listed at $799,000

Recently Remodeled Spanish Style Home

Zoned for Multiple Units

RECENTLY REMODELED SPANISH STYLE HOME IN SILVERLAKE AREA. 4 BEDROOMS AND 3 BATHROOMS. LARGE CORNER LOT. LARGE KITCHEN AND DINING ROOM. LAUNDRY ROOM. NEW WINDOWS AND STUCCO. PRICED TO SELL!!! NEW LAWN AND SPRINKLERS ARE BEING INSTALLED. CLOSE TO SUNSET JUNCTION AREA! ZONED LARD1.5 RECENTLY APPRAISED AT $830,000!!!

How Can I Sell My Home For More Money?

2005-10-13T09:35:00.000-07:00

By Anthony Vulin

Clean it. Home buyers, it turns out, hate dirt more than just about anything else. So, give your home a thorough cleaning from top to bottom. Wash the walls, floors and windows. Rugs should be thoroughly cleaned unless you plan to replace them. Curtains should be washed by hand or taken to a dry cleaner. If you're not up to the task, spend $100 for a professional cleaning company to do the job right.

Organize it. If your home looks too small for you, prospective home buyers are going to think it's too small for them. So, take everything off of your kitchen and bathroom countertops, half the books off your bookshelves and the past season's clothes out of your closet and pack them away. Not only will your home seem larger, but you'll have made a good start on packing for your future move.

Repaint it. Real estate agents say you'll get the biggest bang for your buck by repainting the interior of your home in bright white paint. White walls help home buyers imagine how their own stuff is going to look. If you have wallpaper that's in good shape, choose a neutral shade of white or off-white to complement it. If your wallpaper is peeling or is dated, strip it off and start over with paint.

Mow it and plant it. Most home buyers today will spend about 10 seconds looking at a digital photo of your home on the Internet. If they like what they see, they'll do a "drive-by" showing. You have approximately 6 seconds to impress them as they drive from lot line to lot line. Make the most of what you have by giving your landscape a power-lift. Trim hedges and trees, plant colorful flowers, mow the grass and edge your beds. If you're not up to it, hire a professional landscaper to get the exterior of your home into shape. Then, power wash, touch-up, or repaint the exterior of your home for an irresistible package.

Fix it. If it isn't working properly, you could pay dearly when it comes time to negotiate the price of your home. Today's home buyer just wants to move in and get on with his or her life. So oil the squeaky doors, screw in the knobs, replace the rotting wood lintels, and repair the holes in the porch screen door. The better shape your home is in, the more a home buyer will pay for it.

Meet the Millennium Team

2005-10-04T16:01:00.000-07:00

Come see The Millennium Team at Valley Pride at the CBS Studios , 402 Radford, Studio City California, on Sunday October 9th from 11 AM till 6 PM. We will have team magnets to give away as well as USC, UCLA football schedule magnets. We will also be giving away a Burke Williams Spa treatment. We look forward to meeting you all and helping you with all your real estate needs! www.TheMillenniumTeam.com Anthony@TheMillenniumTeam.com (310) 461-1252

October Real Estate Market Update

2005-09-28T12:34:00.000-07:00

Los Angeles Real Estate Market Conditions: October 2005

Its Fall…or is it? It’s hard to tell in LA. The weather is still in the 80’s and the trees are green. Between now and Thanksgiving, the market tends to stay pretty good. Lot’s of buyers and more sellers then the Summer. Any property priced under 1.2 Million is selling in less then 30 days for a great price! If you are thinking about selling your home, now is definitely the time to do it. There are less and less sales as the year goes on. Put it on the market while interest rates are low and buyers are active. If you price your home right, you should still be able to sell it in less then one month. If it’s priced really well and it’s located in a great area, you may still be able to get multiple offers on your property and start a bidding war. I highly doubt this will be possible later in the year. If you are thinking about buying soon, find a realtor and start looking now. Inventory is low and there is not a lot to pick from. When you see a home you really love, don’t be afraid to make an offer on it, even if it’s the first home you see. It could take several months before you find a home you really love. Check out my web site for more info and look for my commercials on your favorite weekend real estate cable shows. If I can be of any assistance in your next real estate transaction, please don’t hesitate to call!

Anthony Vulin - LARealtortotheStars.com