Archive for the 'North East Los Angeles Buyers News' Category
Mt. Washington Real Estate History
Mt. Washington Home Sales
Now you can have a little short background of Mt. Washington history, a different community in Northeast Los Angeles.
Mt. Washington was founded in 1909 as a luxurious suburb of Los Angeles. Wealthy Angelenos quickly snapped up many of its luxurious Mediterranean Revival homes with outstanding views of the Los Angeles Basin and the western San Gabriel Valley. As the mountain was far too steep for the construction of a proper road in the pre-automobile era, the new district instead was served by a small railway going up the hill, which had its lower terminus at a Pacific Electric Railroad “Red Car” stop. Mt. Washington was eventually absorbed into the city proper as Los Angeles grew.
Mt. Washington’s boundaries are roughly El Paso Drive and Avenue 50 on the northeast, the Arroyo Seco on the southeast, Isabel Street on the southwest, and Division Street on the northwest. Neighboring communities include Eagle Rock on the north, Highland Park on the northeast, Montecito Heights on the southeast, Cypress Park and Glassell Park on the southwest. The Metro Gold Line light rail line passes through the district and has a station near the Southwest Museum. The Pasadena Freeway (CA-110) runs along the district’s southeastern edge, adjacent to the Arroyo Seco.
The real estate in Mt. Washington is always desirable and opportunities are available for the qualified home buyer. Presently there are 8 homes pending in escrow with a value from $495k to $669k. A total of two dozen homes are actively for sale with a value range from $450k to $990k. The N.E.L.A community of Mount Washington shares the same zip code as Glassell Park, 90065. It’s a major reason that a home buyer needs to be represented by a local Realtor, such as Raphael, that’s aware of all the housing factors.
Raphael is a resident of the community and involved in many local organizations helping preserve this secret N.E.L.A community. A local Realtor that understand the needs and expectations of today’s home buyers allowing for a win-win transaction. Are you considering purchasing a home in this great suburban like community? Contact Raphael and spend a few minutes discussing your needs. It will be a benefit to your home search and time well spent.
Be advised that there is never an obligation and your privacy is respected.
Eagle Rock Latest And Best Homes For Sale
Are you a home buyer thinking of Eagle Rock as a place to buy? Are you a
N.E.L.A Home Research
home owner planning on downsizing or investing in N.E.L.A real estate?
Well as we enter March, a review of what new properties was done and here are the opinions of your local Realtor, Raphael.
- Short-Sale on Escarpa Dr. near Campus Rd. that is a 2+2, 1348 sq. ft. on a lot of 6220 sq. ft. built in 1950. The home has views, privacy and near Occidental College with a list price of $539k. Don’t forget that with a short-sale the strength of financing rules as well as the negotiation. Contact Raphael for more details or other homes in Eagle Rock.
- Nice Triplex of three seperate houses on Ellenwood with a lot size of 7797 sq. ft. that is a regular sale. Two of the houses for sale are one bedroom and the third is a two bedroom. The listed price for sale is $619k and a downpayment of 25% is required. Contact Raphael for specifics on this or other income properties in Eagle Rock.
See how easily you can move forward in your real estate needs with an experienced professional that is a local Realtor servicing only Northeast Los Angeles properties. Let Raphael be your guide to meet and exceed your expectations in a home sale or home buy in Eagle Rock. Now is the time to act as interest rates remain favorable and great opportunities exist.
Never an obligation and your privacy is always respected.
New Help From Chase For N.E.L.A Home Buyers
See for yourself what the latest and greatest in the financial market that
Chase Home Loans
Chase now brings to benefit you in any real estate transaction.
Chase offers 1% cash back on total P&I payments for the entire year for the life of the loan. Every new loan Chase originates that has a Chase checking account with auto pay from Chase can now be easily enrolled in this program.
Have you noticed the latest;
30 Yr.Fixed (FHA), Max $417,000, 5.000 with 1 point, 5.250 no points OR
it can be 3.750 with 1.125% points.
Contact Jason, at jason.m.jaime@chase.com for refinancing and quotes on loan amounts over 729,750 through $3,000,000 to service every home buyer or home owner in N.E.L.A!
Chase is a strong supporter to home owners and home buyers seeking to improve financial situations. Jason Jaime, is the local loan agent that can service all your needs. Act NOW, to contact Jason ( jason.m.jaime@chase.com) with a simple question for a rapid response. Jason, speaks Spanish and is empowered to bring you the best possible program per your specific need.
Raphael, your local resident Realtor works with Jason to better support his clients with options and variety in all their home financing needs.
Your privacy is respected and this serves solely as a verified recommendation based on past performance and client satisfaction.
Stay Updated On Northeast Los Angeles Real Estate
Hi, hope the weekend weather will not be to bad for our local Home Sellers and Home Buyers in the communities of Northeast Los Angeles.
N.E.L.A Home Buyer $$$
Here are some stats that will be of value to those currently in the N.E.L.A real estate market. The month-over-month changes in California’s median home price for 2009 were stronger than the long-run national average. Low interest rates and tax incentives led to a rise in the demand for housing. As a result, housing inventory was constrained and created upward pressure on home prices.
California’s housing market has shown signs of stabilization since early last year. Sales of single-family homes bottomed out in August 2007, and the median home price reached its trough in February 2009. In December, California’s median home price was 25.1 percent above the low for the current cycle.
In December, the median price of an existing, single-family home rose to $306,820, an 8.4 percent rise year-over-year, the second consecutive year-over-year increase, and the 10th consecutive month-over-month increase, according to C.A.R.’s (California Association Of Realtors) December sales and price report.
Home Buyers who purchase a median-priced house, live in their home for a norm of at least five years, and sell it at the then current median price. The home owners have then averaged an annual rate of return of more than 11 percent, according to data collected by C.A.R. Not to bad in comparison to what a bank savings account will do for you.
Affordability by CAR for N.E.L.A homes shows that the buyer income should be in the vicinity of $55k. On an entry level home the monthly mortgage and insurance payment may range around $2k, depending on the specific community.
Get updated, do a simple home search for your areas of interest to see what is going on in that community. You will obtain accurate and detailed information to make your real estate planning more realistic. Contact, Raphael, your local resident Realtor for any other questions or concerns you may have. Take the time as it is a benefit to you with NO obligation. What a deal…
Remember your privacy is respected and some info on this post was taken from C.A.R data research.
N.E.L.A Home Property Tax Benefit
Real Estate Taxes
The time has come for those annual tax filings. If you could have some relief in your taxes due and have a benefit to go with it, what would you do? It’s here, as current home owners seeking a new home are now being allowed a tax credit of $6500. Now is the time to act while the tax incentive is still alive if a home purchase is in your future.
The next truth about real estate taxes is that home owners can have the amount due adjusted. Everyone knows how the real estate market has fluctuated in the past few years. Now is the time to make a move and update the value on your property tax bill. Home owners need not be afraid to obtain a current market analysis if the depreciation in value is considerable. The Assessor’s Office is very understanding and willing to assist any home owner to update the taxes due on a principal residence.
To successfully appeal your property tax bill, you must first obtain an experienced ‘local’ Realtor that is familiar with the area. Northeast Los Angeles homes have been impacted by falling values and the home owner does have the right to appeal and ask for a review.
Owning a home in Northeast Los Angeles can be an expensive proposition when the homes value is what the real estate tax is based on. The basis for your property tax bill, requires doing a bit of homework to obtain current market value. Initial research can be done online or with the assistance of a Realtor such as Raphael. Raphael, a local resident and specialist in Northeast Los Angeles can bring service and sustainable data to the table regarding an appeal of taxes due.
An assessment isn’t the same as a private appraisal, and the assessed value of your home isn’t necessarily how much you could sell it for today. Real estate assessment letters are mailed to homeowners on a regular basis depending on the location.
Your property tax bill will usually be calculated by multiplying your home’s assessed or sold value by the local tax rate of 1.5% for Northeast Los Angeles.
The home owner must first verify that the information shown on the County records is correct in the amount of rooms shown. Raphael has assisted many in helping the home owner achieve an updated value. An experienced ‘local’ Realtor knows the value and is able to support a market analysis with the right detailed documentation.
If any facts are wrong, then you may have a quick and easy challenge on your hands. Next, research your home’s value, with the assist of Raphael making it easier on you. A minimum of three to five comparable properties that have sold recently is a must. The key is identifying properties that are very similar to your own in terms of size, style, condition, and location. If you’re willing to spend about $400, you can hire a private appraiser but why go that route. Raphael offers this service free of charge and with no obligation or commitment.
If the assessments on your comparable homes are lower than your detailed value, you have the ability to argue and present your findings to the County Assessor. Most assessors are willing to discuss your assessment informally by phone yet it is just as easy to visit the local office. The majority of properties in Northeast Los Angeles are under the control of the County Assessor located in El Monte.
A typical review, which usually doesn’t require you to appear in person, can take anywhere from one to three months. The Assessor may send a representative to view the property but your local Realtor can be there for the support required as a service to you.
How much effort you decide to put into a challenge depends on the drive and difference in value that the home owner has on record. Northeast Los Angeles is a vast area with home prices well above the U.S. median and with much fluctuation in price based on the neighborhood.
An easier route to savings might lie in determining if you qualify for property tax exemptions (http://www.houselogic.com/articles/common-property-tax-exemptions/) based on age, disability, military service, or other factors. Raphael offers advice and support to all N.E.L.A home owners seeking to correct the house value for a positive change to taxes due.
REQUEST, a comparative market analysis now from Raphael and become knowledgeable in current home values for your specific community in N.E.L.A.
The service is free, so why wait as there is nothing to lose and much to gain. The current economy makes every home owner cost conscious as the time for taxes has come. Ask, Raphael, for that CMA and put your mind at rest…
All information is private and always confidential.
Northeast Los Angeles Real Estate News
N.E.L.A. Mortgage Rate History
Are you updated on today’s Real Estate market, specifically for Northeast Los Angeles? Allow Raphael, local Realtor, to assist. Mortgage rates have moved back to less than 5 percent, which have been categorized by industry experts like Freddie Mac chief economist Frank Nothaft as “near a record low.” This move that may help boost home loan demand and lend support to the housing market recovery. On January 28, the average 30-year fixed-rate mortgage was 4.98 percent.
Affordability remains at record levels, supported by the lowest mortgage rates in decades, low home prices, as well as the first-time buyer and current repurchasing owner tax credits. So far this year, the home price-to-income ratio has fallen well below the historical average of 25 percent. The ratio now stands at a mere 15 percent. This info is current data from the National Association Of Realtors.
Sellers who listed their home at the price originally recommended by their Local Realtor, sold it:
* 38 days faster
* For 2.25% higher
* With 1 less price reduction
It supports the knowledge and service that a Realtor like Raphael can bring to sellers. Home Sellers who are not realistic and initially differ from their Realtors advice have more heartache and grief in their home sale.
Other notable stats include:
* Only 1 in 3 sellers staged their home, even with all the commonly accepted advantages of staging and preparing per their Realtor’s advice.
* Staging typically took between a simple 2 to 6 hours to complete.
Although it has advantages at all price points, staging was also found to be particularly important for homes priced over $600,000.
Source: Keller Williams Realty Research Study
These facts support the program of having a ‘local Realtor’ like Raphael for any home sale. Raphael lives and works strictly in Northeast Los Angeles and is part of numerous community outreach programs. A knowledge of the various communities in N.E.L.A is critical to better assist any home seller or home buyer today. Feel free to utilize the custom programs in doing a local home search or obtaining the current value of your home with the tools offered by Raphael. The details of having a client understand the local market and financial opportunities available is only a small part of what Raphael offers his clients.
Your privacy is always respected and never an obligation. Contact Raphael TODAY for a positive win-win experience relating to N.E.L.A properties.
Thoughts For Investigating Homes For Sale In Northeast Los Angeles
Here are a few tips on how to investigate the history of a Northeast Los Angeles
N.E.L.A. Home Inspections
home during a purchase. We are all aware that upon presenting an offer to buy a home it is brought to the home buyers attention to inspect-inspect-inspect. A home buyer must sign numerous documents that state inspections are up to the home buyer. A strong Realtor will advise the home buyer to do more than just a normal home inspection depending on the home. Northeast Los Angeles Real Estate is an area which has a very large number of older character homes which can present different challenges on inspections.
A Realtor will offer recommendations of some reputable home inspectors but there is more than can be bypassed. Raphael, local resident Realtor, brings other issues out in the open. One must remember that the sewer lines can create problems due to age of plumbing. Hillside and view homes, which are abundant, in N.E.L.A, should have the foundation closely looked at. Raphael has the expertise of what to recommend based on the type home and the location.
A home buyer can also request that the seller provide a copy of the Comprehensive Loss Underwriting Exchange report which is obtainable from www.choicetrust.com. The report will show specifics that the home seller may have filed with their insurance company. A similar report, called A-PLUS, is also available from the Insurance Services Office. Finally, home sellers should be aware that this is a request that would need to be honored and is the right of any home buyer.
The other critical details range from the electrical to the plumbing condition of the home. Lastly, is the issue very common in the communities of northeast Los Angeles which is the factor of permits for work done by the home owner.
Raphael, advises the home seller of these issues that can take place and to disclose all that is known for a clean transaction of sale. Raphael also reminds the home buyer to consider all these inspections based on the aspects of the home in question. Just another reason that a resident local Realtor brings value and service for a successful transaction. Home sellers and home buyers both benefit by what Raphael brings to the table for a win-win home purchase/sale.
Ask Raphael, and contact him for free advice and tips that will assist you. Knowledge is key and these factors are critical when dealing with money matters.
All Info is confidential and privacy is always respected.
Atwater Village Best Feb. Homes For Sale
N.E.L.A Best Realtors
Here is a quick way to see the best homes for sale in Atwater Village that just went for sale this month. It serves as a great reference in looking at the current real estate market for this northeast Los Angeles community.
Let’s start with the most affordable property just listed. The home is a 2+2, 1254 Sq. Ft. on a lot that is 5,840 sq. ft. and a regular sale. This house is located on Valleybrink Rd. by Glendale Blvd. and has been recently remodeled. A detached garage and central A/C with some views just make this a home to view. Priced at $480k it should sell in a short time frame so contact Raphael to see the value.
Seeking a larger home priced well is this 4+4, 1,695 sq. ft. on a 7,500 sq. ft. lot on La Clede near San Fernando Road. The home has just been remodeled The home is listed for $569k and is a regular sale with hardwood floors and detached garage. It is worth a viewing if the area is acceptable since SanFernando Road is quite a busy street. Contact Raphael for more specifics if interested.
Lastly, here is a home recently listed that offers much to that detailed buyer. The home is a 3+3, 2,060 sq. ft. on a 5,759 sq. ft. lot. Located on Sunnybrook drive near Glenfeliz Blvd. it was built in 2006 and also has a guest house not included in the square footage. The home has upscale appliances, views, fireplace, central A/C, detached garage and tile roof. A regular sale priced at $850k makes this home desirable for the buyer wanting more for the money. Strong financing will allow for negotiations on the price if the criteria is acceptable to a buyer seeking an upscale home. Raphael can assist you based on negotiations and knowledge of this N.E.L.A community.
So after this brief analysis of what is new contact Raphael, your local resident Realtor, for more specifics on these and other homes presently for sale in the Atwater Village community. Home buyers can benefit with the value Raphael offers in exceeding the buyers desires in a realistic manner.
Home Buyers and Home Sellers can benefit from the custom program Raphael offers in doing a home search of the area to serve as a strong reference point.
Remember that all information is confidential and your privacy is always respected.
Latest Highland Park Income Property For Sale
Would you like to enjoy the benefits of owning income property in Highland
Rental Income
Park?
The month of February has brought two properties for sale that can provide good income for a savvy real estate investor. Looking at the rental market in N.E.L.A shows that demand is there for units that are maintained and affordable.
One property is a duplex located on Coringa Drive just north of York Blvd and is Bank-Owned. The first unit is a 3+2 and the second unit is a 2+1 and both are vacant. The lot size is 5,000 sq. ft. and the total interior space is 1,584 sq. ft. with a listed for sale price of $345k. The property is in a nice pocket of Highland Park and not far from Occidental College. The units being vacant allow the home buyer/investor to do some updates and cosmetic repairs allowing for a reasonable rental price. This R.E.O. property just came on the market in the past week and is definitely worth a look. Having strong financials will allow for some good negotiations regarding the price with the bank.
The second property is a 4 unit apartment bldg. on Aldama St. by Milwaukee Ave. and all units are occupied. This income property is a regular sale and consist of two 1+1 units and two 2+1 units listed for sale at $449k. The bldg. is well maintained with some updates already done enhancing the value. The gross income for all units is $38k with operating expenses at $12k. The listing is only two weeks old and worth a look by a real estate investor seeking good value in northeast Los Angeles.
Residential Income property is well sought in N.E.L.A as the area is commuter friendly with good rental demand. Raphael, is the resident Realtor, having the knowledge and experience to help any investor find suitable property to meet the demands of a well qualified buyer. Now is the time to take action and search the income properties that are a value today with a positive return in the future. The real estate transactions done today can bring security and peace of mind to a savvy buyer in the years to come. Interest rates are still highly desirable and a well qualified buyer can negotiate well with a Realtor like Raphael on the team.
Let Raphael answer your questions regarding the real estate market in northeast Los Angeles. Information is all confidential and your privacy respected.
Latest On Northeast Los Angeles Homes For Sale
Viewing Best N.E.L.A Homes For Sale
Here is a quick way to get information on houses for sale in Northeast Los Angeles. Get on my blog list to receive the latest scoop on what is going on in the N.E.L.A real estate market. It is easy and entertaining.
So, let’s get to it on the deals in houses for sale in parts of N.E.L.A.
90026- Echo Park – Elysian Heights Spacious Property in Echo Park for sale. This is a two for one listing and I do not mean happy hour. The homes were built in 1930 (Spanish Architecture) and the other in 1940 (Traditional Architecture) both with vintage details and great landscaping. They are located on Portia St. off of Sunset Blvd. and are priced for $1.1 million for both homes. The lot is a total of 8189 sq. ft. and the homes combined square footage is 4,984. A cash offer is being sought and thus there should be leverage for negotiations.
90026- Silverlake Home for sale. This home is a short-sale, 2+3, 1135 sq. ft., completely remodeled on a small lot of 2,880 sq. ft., with a guestroom and 1/2 bath over the garage. This Silver Lake home is on Dahlia st. off Micheltorena Dr. north of Sunset Blvd. and has nice panoramic views. Oh yes, the listed price is $559k and the strength of financing will rule the decision by the lender.
90027- Los Feliz Home For Sale. This home is bank-owned so it gets a plus from me. This house is 3,005 sq. ft. on a huge lot of 54,450 sq. ft. and built in 1937 so the charm is there of the era. The price for this Los Feliz house is $976k but once again, being bank-owned the financing strength will rule the decision of the lender. Keep in mind that bank-owned properties bring a quick decision from the lender when compared to a home for sale that is a short-sale. The house is located on Los Nietos Dr. by Price St. and repairs can be negotiated if the right Realtor is used.
90032- El Sereno view home for sale. So, one may say El Sereno has little to offer but it does offer much in value and location. This N.E.L.A home for sale is 2,160 sq. ft. on a lot of 4,960 sq. ft. with outstanding views. This house for sale was built in 1960 and is a 4+3, two level, cathedral ceilings, formal dining room and large balconies. It also boast a fenced terraced yard and plenty of storage along with a attached garage. This short-sale home for sale is another home where financing will rule the decision making. The price is only $399k and a true value located on La Calandria off of Lombardy. A great pocket of El Sereno with much to offer at a great price.
Well, here you have a little taste of what is going on in a few select areas regarding Northeast Los Angeles homes for sale in Los Feliz, Echo Park and El Sereno real estate markets. Home buyers can have this as a reference based on individual criteria. Be reminded, that home search is simple and free on this site so take advantage of this fantastic ‘custom’ tool made available to you. Home Sellers can also see how the the N.E.L.A real estate market is doing and request a free home market evaluation. There is never an obligation with Raphael.
These properties mentioned are ‘NOT’ Raphael’s listings but mentioned here as a service and reference point. Want to know more of what the market is doing…then just ASK , Raphael for a speedy reply.
All information is confidential as your privacy is always respected…
