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David Hernandez's Blog

By David Hernandez | Agent in Los Angeles County, CA
  • Flower Street Lofts | South Park Live Work Loft

    Posted Under: Home Buying in Downtown, Agent2Agent in Downtown, In My Neighborhood in Downtown  |  October 3, 2013 11:04 AM  |  307 views  |  1 comment
    DOWNTOWN LA LOFT FOR SALE $675,000 - 2B/2B, 1532 SQFT (20 photos)
    1130 S. Flower Street, Los Angeles, CA 90015. 
    More Info at:
    http://lalofts.me/
    This premier South Park, Live/Work loft is tastefully remodeled throughout & is located within highly desired Flower Street Lofts building. The large living are...See More
     — at Flower Street Lofts: 1130 S. Flower St, Downtown L.A. California.

    OPEN HOUSE: 10/06/2013 (1:00PM-4:00PM)
    Updated/Remodeled
    This premier South Park, Live/Work loft is tastefully remodeled throughout & is located within highly desired Flower Street Lofts building. The large living area has breathtaking 2-Story ceilings, city views of high rises, & an open floor plan perfect for entertaining. The modern kitchen features caesarstone countertops w/ breakfast bar & stainless steel appliances. The entry level has one bedroom with an adjacent full bathroom. Upstairs is a large mezzanine that over-looks the living area & then leads to the master bedroom. The master bedroom is spacious, and has a gorgeous full bathroom w/ modern fixtures & state of the art toilet. Additional features include gallery entry, polished concrete floors, tracked lighting, concrete finished walls, & lots of windows. Key HOA amenities include 2 gated parking spaces, basic cable T.V., & high-speed internet. Across the street from Staples Center & LA Live plus w/in close proximity to restaurants, Ralphs, coffee shops, & Metro Blue Line.

    Appointment Only. Showings Text David 626-840-1990.

    Photo: LALofts.me Featured Listing
    Photo: LALofts.me Featured Listing
    Photo: LALofts.me Featured Listing
    Photo: LALofts.me Featured Listing
  • How to Set Up Your DTLA Loft

    Posted Under: Home Buying in Downtown, In My Neighborhood in Downtown, How To... in Downtown  |  October 3, 2013 9:32 AM  |  295 views  |  No comments
    LOFT LIVING

    DTLA LOFT LIVING | LALofts.me

    A loft-style apartment or condo usually has an airy open floor plan that gives it character and personality. But while the look of the space definitely ups its cool factor, finding the best way to set up such a wide, open home can be a serious challenge. Unlike a traditional floor plan where you have to maximize the space available, it’s important to make use of all of the open space in your loft and take into account the issues presented when you don’t have walls to separate the “rooms” of your home.

    Create Distinct Areas

    Because there are usually no formal rooms in a loft, it’s important to create distinct areas within the space. Area rugs are an effective way to define a “room” in an open layout – you can place one in the living area and arrange seating options around it, or set one beneath the dining table to separate it from the kitchen. In areas where privacy may be a concern, such as your bedroom, physical boundaries are a better option. Folding screens and curtains work well to block off areas, but you can also use furniture such as a large bookcase or armoire to separate your loft into “rooms” that help define the space.

    Keep Furniture Away from Walls

    In a traditional, closed-in room, it’s usually best to place furniture against the walls to maximize space. In a loft, you have the luxury of an open layout, so be more creative with your furniture placement. For example, instead of placing your bed against the wall, angle against two walls in a corner of the loft for a more interesting look – or place it away from all walls and surround it with sheer curtains to create drama. Move other items such as your desk, sofa, entertainment center and bookcases away from the walls, too, to take advantage of the wide-open space. Also, consider the scale of your furniture – since a loft usually has high ceilings and an open layout, opt for large or oversized pieces that can fill up the space.

    Soundproof the Space

    Without walls or carpeting to absorb noise, you may have an issue with echoing inside your loft since sounds are free to bounce around the open space. When setting up your apartment, include items that can help absorb some of the sound, such as large area rugs, upholstered furniture and decorative fabric wall hangings. You can even hang sound-control matting on your walls behind artwork or other items to correct a particularly severe sound issue.

    Add Storage

    A loft typically lacks closets, so there isn’t much built-in storage room for clothing and other items. But it’s important to keep your apartment clutter-free since the space lacks walls and guests will be able to see any mess that you may have. To combat the lack of storage, look for furniture items that have plenty of space. A large armoire can provide hanging storage just as a closet would, while an oversized chest of drawers can hold anything from clothing to office supplies. Use the space under the bed, too – you can find plastic boxes that fit beneath the bed for easy storage. You can also add shelves to any free walls that you may have for convenient storage throughout the space.

    by Jennifer Blair, Demand Media

    For more information, call 888-838-2177 or email info@lalofts.me

    We assist clients in helping them buy and sell  in addition to leasing their condo and loft units . Please contact us for all your real estate needs.

    DTLA Real Estate Agent

    David, Ramiro & Erica
    LA Loft & Condo Specialists
    Call 888-838-2177
    info@lalofts.me

  • DTLA Loft Living

    Posted Under: Home Buying in Downtown, Design & Decor in Downtown, In My Neighborhood in Downtown  |  October 3, 2013 9:30 AM  |  302 views  |  No comments
    LA Lofts For Sale

    LA Lofts For Sale | LALofts.me

     

    DTLA Loft Living

    Today’s loft owners are looking for more than a converted commercial space. They are demanding amenities and décor that have the scale and size to match the space, while not competing with the downtown city backdrop. Whether you live in a loft, or just want to emulate the look of one, here are a few simple tips to make your space luxuriously lofty.

    The first step in decorating a loft is to determine the function of the space. You’ve got all that open area; now what are you going to do with it? Walk around your loft and decide on the best spots for working, relaxing and entertaining, using natural light and built-in features, such as open ductwork, built-in shelving, levels and windows, as guides. Once the functional areas have been mapped out, it’s easy to divide the open space into “rooms” through the placement of partitions, large pieces of furniture or area rugs. Who needs walls, anyway?

    If you’re like most loft owners, your space is likely characterized by rough materials and surfaces – exposed brick walls and pipes, with cement or worn wood floors. Because of the industrial look and feel of lofts, they are usually decorated in a contrasting sleek contemporary style, incorporating clean lines and smooth surfaces. Contemporary loft décor combines fabrics with wood, glass, chrome and stainless steel to create a visually stimulating look. Utilize these materials in your kitchen by incorporating the Level™ kitchen collection from Moen. Level features single-hole, single-mount faucets in both standard and pulldown models. The clean lines and high-arcing spouts give a modern kitchen an additional touch of sophistication.

    Even though it may be the only room in your space with walls, your loft décor should extend into the bathroom. The Level™ bathroom faucet collection stands apart with its clean, geometric lines and a beautiful laminar stream that creates a clear and quiet water flow to accentuate the look of any modern bath. Available in a Chrome and LifeShine® Brushed Nickel finish, the faucets make a bold statement in a single-handle, single-hole mount for a traditional application, as well as a single-handle, single-hole vessel faucet and a two-handle widespread style.

    For loft furnishings that will help you to achieve a contemporary look and feel without breaking the bank, look to retailers like Target and Ikea. The Karlstad sofa-bed from Ikea features a clean, geometric design, plus the functionality of a pull-out bed and extra storage – all key to maintaining the uncluttered loft look.

    When considering your overall décor, go for a color scheme that is bold and simple to enhance the architectural features of your home mixing strong, dramatic colors with pale hues to achieve a linear, structured look in your space. Hot new hues that will help achieve a visually interesting and modern space include Dried Thyme, Sullen Mist, Rocket Red, Founding Father, Guess Hue, Laguna Blue, Pumpkin Stem and Empire State, all from Sherwin Williams.

    To balance the industrial edge that characterizes most lofts, try softening your space with long, soft drapes and plush, textured rugs. You may also want to consider crystal or shiny finishes for lamps and accent pieces to add some shimmer to your décor.

    When you feel you have made your mark on your lofty urban space, relax and enjoy the openness of your new modern marvel.

    For more information, call 888-838-2177 or email info@lalofts.me

    We assist clients in helping them buy and sell  in addition to leasing their condo and loft units . Please contact us for all your real estate needs.

    DTLA Real Estate Agent

    David, Ramiro & Erica
    LA Loft & Condo Specialists
    Call 888-838-2177
    info@lalofts.me

  • Keys to Buying a DTLA Loft With Bad Credit

    Posted Under: Home Buying in Downtown, Financing in Downtown, How To... in Downtown  |  October 3, 2013 9:27 AM  |  301 views  |  No comments
    Loft Living | LALofts.me

    Loft Living | LALofts.me

    Loft Living | LALofts.me

    Today, there is still a general consensus that to buy a LA Condo or Loft you need to have 20 percent down and a good-to-excellent credit history. The good news is you actually don’t need a large down payment or great credit in order to purchase a LA Condo or Loft  with competitive market terms. Let’s look at the characteristics of what a mortgage lender deems to be bad credit when it comes time to qualify for a mortgage loan.

    Credit Score Scale 

    740-800 Outstanding
    720-740 Great
    700-720 Good
    680-700 Mediocre
    *620-680 Less than perfect, but approvable

    A mortgage company’s definition of bad credit might not be what a consumer considers to be bad credit. A credit score of 620 or higher is required to successfully obtain a mortgage. By the same token, a 620 credit score is considered by a lender to be less than perfect, but it’s still possible to get a mortgage with that score.

    Your credit score determines two major things for a mortgage company:
    Loan program - Whether it’s a conventional or FHA-type mortgage.
    Pricing - This includes your interest rate and any additional charges indicative of the credit score (the lower the credit score, the higher the interest rate and/or potential charges).

    Your credit history is the next factor in determining whether or not your loan will be approved. Is there a pattern of previous credit delinquencies? Are there balances on closed-out accounts? It’s common for a consumer to have a 620 credit score, and have a consistent historical pattern of derogatory credit. Interestingly, this person would have a more difficult time obtaining mortgage loan approval than someone with a 640 credit score with no history of delinquencies other than a foreclosure from a couple of years before.

    In order of priority, lenders will look at the credit score to determine which home loan you’re eligible for. Next, the complete credit overview will be taken into consideration to determine what questions may or may not arise in the underwriting decision process. The underwriting process will be looking for “what happened,” “why it happened” and the future “likelihood of continuance or repeat non-repayment.”

    Common Credit Red Flags for Lenders

    Pattern of Delinquencies - A record of late payments is possible to work around, but more lender scrutiny will be given to the size of your down payment and your debt-to-income percentage.
    Student Loan Late Payments - If you had a late payment on your student loans within the past 12 months, you may be more likely to be approved for conventional financing.
    Government financing - like FHA – does not take kindly to delinquent federal debt.
    Mortgage Late Payments – One late payment in the past 12 months is permitted, so long as it can be explained and, if necessary, fully documented.
    Foreclosure – 36 months from the date of the foreclosure you’ll become eligible for a 3.5% down FHA loan; for a VA loan, 48 months and no money down required; conventional loans require seven years no matter the down payment.
    Short sale – It takes 36 months from the date of the short sale until you’re eligible using a 3.5% down payment FHA loan; 24 months with the VA loan; 24 months on a conventional loan with a minimum down payment of 20%.
    Bankruptcy – With Chapter 7 (Chapter 13 is less common), you have 24 months from the date of discharge until you’re eligible using a 3.5% down FHA loan; 48 months on VA loans (still no money down required); and 48 months on conventional loans, no matter the down payment.

    Why You Can Get a Mortgage With Bad Credit

    There’s a thing called investor overlays, which are adjustments to guidelines and/or pricing created in favor of the lender. This is precisely why one lender can do a loan for someone with bad credit and minimal (or no) down payment, and another lender cannot do the loan in some instances.

    Overlays further protect lenders against potential future losses from the home loans they originate, preserving profit margins and buyback risk (an event in which the originating lender is forced to buy back from the investor if the loan they made was not fully documented). Investor overlays tighten the screws on borrowers’ ability to borrow. Put another way, it shifts risk — which translates to cost — on to the consumer by means of limiting the ability to borrow via higher loan fees, reduced purchase price, or lower debt ratio, to name a few.

    Note: Every mortgage lender has investor overlays, it’s the nature of how mortgage companies operate, the key is to work with a lender whose overlays are minimal.

    DTLA Loft Buyer Homework

    Know your credit score, first and foremost (you can monitor your score for free using a service likeCredit.com’s Credit Report Card). Obtain a copy of your credit report (which you can do for free through AnnualCreditReport.com), this will aid you in selecting the appropriate lender. Get as much supporting documentation as possible surrounding your credit challenges so the story can be explained from A to Z.

    When speaking with a potential lender, be very specific. Do not be afraid to share every detail of your needs and concerns, giving the most complete description possible. Find out upfront if they have any additional conditions with regard to credit history, as doing so could save you considerable time and money.

    By Scott Sheldon | Credit.com

    For more information, call 888-838-2177 or email info@lalofts.me

    We assist clients in helping them buy and sell  in addition to leasing their condo and loft units . Please contact us for all your real estate needs.

    DTLA Real Estate Agent

    David, Ramiro & Erica
    LA Loft & Condo Specialists
    Call 888-838-2177
    info@lalofts.me

  • The Ritz-Carlton Residences at L.A. LIVE

    Posted Under: Property Q&A in Downtown  |  October 3, 2013 9:21 AM  |  220 views  |  No comments

    Extraordinary places lead to extraordinary living, and this is such a place. This is everything you’d expect from The Ritz-Carlton experience merged with much that you may not expect from anyone. This is a stunning new Residence poised high above a vibrant entertainment complex where you’ll enjoy VIP treatment on the most exhilarating block of the most exciting neighborhood in the most exceptional city. This is living, at The Ritz-Carlton Residences at L.A. LIVE. Welcome home.

    Your private residence floats hundreds of feet in the sky over L.A. LIVE’S entertainment venues, making it the perfect vantage point from which to see the stars above, and below as well.

    Search The Ritz-Carlton Residences at L.A. LIVE For Sale and Rent

    For more information, call 888-838-2177 or email info@lalofts.me

    We assist clients in helping them buy and sell  in addition to leasing their condo and loft units . Please contact us for all your real estate needs.

    DTLA Real Estate Agent

    David, Ramiro & Erica
    LA Loft & Condo Specialists
    Call 888-838-2177
    info@lalofts.me

  • DTLA Live Work Lofts | LALofts.me

    Posted Under: General Area in Downtown, Home Buying in Downtown, Property Q&A in Downtown  |  October 3, 2013 9:16 AM  |  298 views  |  No comments

    DTLA Live Work Lofts | LALofts.me

    Types of Live-Work Units

    Typically, the business is on ground level and faces the street. The most traditional arrangement places the living quarters above the business, but living space may also be alongside the commercial space or behind it. An artist’s loft might simply be a bedroom over his studio. At the other end of the spectrum, a live-work unit might be a three- or four-story townhouse, with commercial space on the first floor and the family residing in a spacious home on the remaining floors. Local municipal codes often control the types and arrangement of live-work units available.

    DTLA Live Work Lofts | LALofts.me

    Advantages

    A live-work unit cuts your commute time to seconds, and because all you need to do is walk from your bedroom to your office, you avoid the cost of gasoline for commuting to work. You do not have to brave scorching summer heat, torrential spring rains or bitter winter snows to go to work. Lunch can be a healthy, inexpensive meal prepared in your own kitchen rather than a rushed, expensive affair at a crowded restaurant. A live-work unit offers similar advantages to a home office, but it is often easier to prove your deductions to the Internal Revenue Service for a live-work unit than a home office.

    Disadvantages

    Workaholics might find it more difficult to stop work when there is no commute time involved. If you have children, there might be limited places for them to play outdoors. Some cities, such as Sunnyvale, California, have strict rules about live-work units, including a prohibition against renting out part of the unit, employing more than one non-resident and having more than three delivery trucks, vendors or customers arrive by vehicle at your location in a single day.

    DTLA Live Work Lofts | LALofts.me

    Challenges

    In the 19th and early 20th century, zoning restrictions were unknown in many American cities. As the 1900s progressed, however, municipalities began restricting where people could live and conduct their business. Areas zoned for residential use could not be used for commerce, and areas zoned for commercial use could not be residential. Such arrangements helped to ensure that citizens did not have their lives disrupted by the noises or traffic often associated with commercial endeavors. However, zoning laws also made life easier for city officials. Commercial property was normally taxed at a higher rate than residential, and grouping similar properties together made it easier to monitor the tax rolls. Safety regulations vary by whether a property is commercial or residential, and the restrictions made it easier to conduct inspections and ensure compliance. The zoning laws are typically the biggest challenges faced by those building or purchasing live-work units. Cities are often unsure how to handle taxation on such mixed-use properties and which safety codes apply.

    Article written by: Jeffrey Joyner, Demand Media

    For more information, call 888-838-2177 or email info@lalofts.me

    We assist clients in helping them buy and sell  in addition to leasing their condo and loft units . Please contact us for all your real estate needs.

    DTLA Real Estate Agent

    David, Ramiro & Erica
    LA Loft & Condo Specialists
    Call 888-838-2177
    info@lalofts.me

  • Mills Act Tax Breaks for DTLA L.A. Lofts

    Posted Under: General Area in Downtown, Home Buying in Downtown, Property Q&A in Downtown  |  October 3, 2013 9:11 AM  |  318 views  |  No comments

    ROWAN BUILDING LOFTS | LALofts.me

    To help preserve LA’s historic buildings, a new tax incentive was created. Called the Mills Act, it offers homeowners in qualifying historic buildings as much as 70% or more off their property tax bills. That means if you buy a loft in a historic building, you could potentially save thousands of dollars each year. That’s money you can use to help furnish your new loft home, put more money down at purchase to reduce your monthly mortgage payments, trade up to a larger loft or even just put in your pocket.

    DTLALOFTS

    El Dorado Lofts | LALofts.me

    Preservation Incentives

    General Incentives for Preserving Historic Buildings
    What financial incentives and other programs exist to help make preservation economically feasible? This Conservancy publication covers the basics of income tax credits, property tax reductions, facade easements, and the California Historical Building Code.
    Incentives for Preserving Historic Buildings (PDF)

    Preservation Incentives for Homeowners
    This comprehensive report from the Getty Conservation Institute is tailored specifically to homeowners.
    Incentives for the Preservation and Rehabilitation of Historic Homes in the City of Los Angeles: A Guidebook for Homeowners (PDF)

    DTLA Lofts | LALofts.me

    Conservation Easements
    Owners of a historic property can ensure its future preservation (and collect a tidy tax benefit) by placing a restriction on the property that prevents demolition or inappropriate alterations. The Conservancy, in receiving the easement, accepts an obligation to review future proposed changes to the structure, and the owner, in return, can take a significant charitable deduction.
    Conservation Easements (PDF)

    For more information, call 888-838-2177 or email info@lalofts.me

    We assist clients in helping them buy and sell  in addition to leasing their condo and loft units . Please contact us for all your real estate needs.

    DTLA Real Estate Agent

    David, Ramiro & Erica
    LA Loft & Condo Specialists
    Call 888-838-2177
    info@lalofts.me

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