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90292 : Real Estate Advice

  • All25
  • Local Info0
  • Home Buying11
  • Home Selling2
  • Market Conditions2

Activity 20
Wed Aug 30, 2017
Gail Mercedes Cole answered:
There are 3 sister condominium complexes on Marina Pointe Dr. Regatta, Cove and Azzurra. All three are holding value well. The pricing tends to be determine by upper floor units, living space and views.

Gail Mercedes Cole
... more
0 votes 1 answer Share Flag
Mon Aug 14, 2017
Mary answered:
Hi,

I apologize for the the inconvenience it has caused you. We have closed your Trulia profile as you requested.

Thank you for using Trulia!

Mary
Consumer Care Advocate
http://www.trulia.com/help/ask/ ... more
0 votes 1 answer Share Flag
Sat Jul 29, 2017
Kathy Burgreen answered:
The landlord is NOT the person to worry about - it's the city of Los Angeles. Cities across the country have laws now that prohibit owners putting their rooms for rent on Airbnb or other websites. Cities have hired employees who check these websites and if you break the law, you will be arrested. You need to know that the major hotels have sued cities for loss of income because renters like you put their rooms for rent on Airbnb. So the cities gave in to the hotels. New York City's law states that owners must have a minimum of 30 days to rent on Airbnb. Anything less than 30 days is a violation of the law.

You need to check the law for Los Angeles.
... more
0 votes 1 answer Share Flag
Fri Jul 7, 2017
UpNest Top Realtors answered:
We created UpNest (http://www.upnest.com) to help home sellers get the best value possible. All you have to do is submit a few details about your home, and we'll invite several top local agents to submit proposals to you. Since agents are competing to earn your listing, they bring out their best commission rates and value added services, saving you a lot of money. There's no risk to try us out at all, and it's completely free for you. http://www.upnest.com Good luck! ... more
0 votes 5 answers Share Flag
Thu Apr 6, 2017
Ashley Ellington asked:
Please remove my renters profile. I do not want my information on this website.
0 votes 0 Answers Share Flag
Mon Oct 24, 2016
Naomipolanco4 answered:
there are like big airplanes from like war or something , flying by over here marina del rey , basically by the beach and am wondering what they are because 5 of them flew by
0 votes 13 answers Share Flag
Sat Sep 24, 2016
Gail Mercedes Cole answered:
On high end leases the Realtor is paid by the owner. Buyers and prospective tenants are confused by Realtor's commissions. The commissions are paid by the Seller/Landlord/Owner. Not the prospective buyer or tenant.

Advantages of contacting Local Realtor:

- Knowledge of area and other areas you may consider
- Knowledge of average market rents
- Access to Multiple Listing Service

The local Realtor will bring a wealth of knowledge to your rental search. Searching for high-end rental owner pays Realtor. Any questions do not hesitate calling.

Gail Mercedes Cole
Coldwell Banker Residential Brokerage
BRE#00788828
(310) 853-9933
... more
0 votes 7 answers Share Flag
Sat Sep 24, 2016
Gail Mercedes Cole answered:
Since 2015 there has been a scarcity of properties on the market. More buyer's demand than housing inventory. With low interest rates and housing scarcity home values have appreciated. September 2016 noticing more inventory, listings on market longer and asking price reductions. The market maybe leveling off or correcting. Buyers always want to see most recent listing. In addition, consider listings that have been on market for some time. Those sellers maybe receptive to reasonable offer. Active buyers should have current active and daily updates. ... more
0 votes 3 answers Share Flag
Wed Sep 7, 2016
Gail Mercedes Cole answered:
First single family home values are different in Culver City, Marina Del Rey and Santa Monica. The most expensive area is Santa Monica. The least expensive is Culver City CA. Estimated total budget $1M. Goal is 3 bedrooms and 2 bathrooms. Has to be concentrated search in all area. Search 3bds/2bas in each area. Compare prices to smaller homes and tear downs in each area. Culver City would be the area closest to you being able to reaching you goal. Really need to get quotes from reliable licensed contractor. Costs per square foot for add-ons.

- Compare cost purchasing 3bds/2bas with modest cosmetics to add-on/fixer.
- For tear-down have to check with city for building codes.

It is a costly to purchase a tear-down or add-on. It maybe less costly purchasing an existing 3bd/2ba and make cosmetic change. These renovations can happen at the buyer's time frame.
Gail Mercedes Cole
Coldwell Banker
(310) 853-9933
... more
0 votes 1 answer Share Flag
Tue May 10, 2016
Vincentjriggio asked:
Please let me know how to do so. I can't find the option anywhere in my profile.


Thank You!
Vince Riggio
0 votes 0 Answers Share Flag
Thu Jan 21, 2016
Dorene Slavitz answered:
Houseboats are a specialty type of sale and usually you find places that sell boats and houseboats only. Elite boat sales or yacht world are two house boat sellers.
0 votes 1 answer Share Flag
Tue Feb 11, 2014
Gail Mercedes Cole answered:
Mary,

As a first time buyer I recommend you get in touch with a direct lender get qualified for a loan. There are FHA loans with 3.5% down payment. A conventional loan with require a minimum of 10% down payment. You can discuss with lender the amount putting down. Lender will require 2 years of tax records and will run a credit report. It is to your benefit after qualification you will know your purchasing power. Knowing your loan maximum enables you to look in affordable areas. Be sure to go to reputable direct lender.

Gail Mercedes Cole
310.853.9933
Your Westside Homes
http://yourwestsidehomes.com/
... more
0 votes 8 answers Share Flag
Tue Feb 11, 2014
Gail Mercedes Cole answered:
Adam,

The depressed market in Marina del Rey, Venice and Playa Vista was 2008-end of 2012. 2013 saw an appreciation of 20%-25% depending on the community. Reasons reduction of short sales, foreclosures and a shortage of properties on the market. The summer of 2013 was multiple offers on properties. Some properties went above their asking prices. Prices have appreciated but seem to be stabilizing and properties are staying on the market long. Prices are not dropping but staying level. Check with lender for rates and terms. for qualification. Lending practices in my opinion is not effecting home values.

Marina del Rey and Playa Vista have a density of condominiums and townhouses. In Marina del Rey the majority are older average 30-35 years olds. In Playa Vista home age average about 6 years. Venice is single home density. This is a good time to buyer but prices do not appear to be going down. Of course, in this economy anything can happen but housing market is recovering. If considering buying take advantage of mortgage interest rates under 05%. Any questions do not hesitate calling.

Gail Mercedes Cole
310.853.9933
Your Westside Homes
http://yourwestsidehomes.com/
... more
0 votes 9 answers Share Flag
Wed Oct 2, 2013
Brian Nguyen answered:
I would be glad to get you an FHA loan but I would need to know a bit more information about your finances. Your ability to obtain a loan relies on many financial factors such as income, credit score, expenses, etc. I have been able to give out FHA loans with scores as low as 580. So if you are at this level or above you have a good chance of getting that loan. I am a lender based out of Southern California and I have done plenty of loans throughout Los Angeles county. I would be glad to speak with you to help you get the loan you need to get you in your new condo! So if you have any further questions or need a loan, feel free to contact me. Good Luck! Brian Nguyen Sr. Mortgage Banker NMLS # 659743 Phone: 949.667.2887 brian.nguyen@nafinc.com ... more
0 votes 10 answers Share Flag
Mon Aug 19, 2013
Monica Breckenridge answered:
I always recommend having a buyers agent write the offer for you. When you go through the listing agent then you aren't represented to fight for your offer. The listing agent becomes a transaction broker meaning they represent nobody, they just present info. At least that is how it is in my state.

I recently had to become transaction broker and the buyer wanted to offer at least $50k below asking. The seller was so offended by the offer they didn't even want to consider the offer from the buyer anymore because they were so upset. It really depends on the seller and how they feel about the house. You should consult with an agent to find out what the best offer price would be based on comps. It's always worth a shot to offer lower than comps, but beware you may make the seller mad as well.
... more
0 votes 14 answers Share Flag
Sat May 25, 2013
Gail Mercedes Cole answered:
It is possible you would have to come up with the different above the required loan for FHA. Keep in mind if the desired property is a condominium, townhouse or (PUD) single family home the project has to be pre-FHA approved. On the Westside there is little listing inventory and homes are seeing multiple offers. You are competing with all-cash or buyers with substantial down payments. FHA buyers have to be aggressive but offer maybe overlooked for conventional-loan buyers or all cash buyers. Be prepared for what you what type of buyers you are competing against. FHA is a good mortgage tool buyers should be just as qualified as conventional potential buyers. Do not give up search if overlooked on offers you may submit. Keep searching.

Gail Mercedes Cole
EXP Realty
310-853-9933
... more
0 votes 5 answers Share Flag
Thu Feb 14, 2013
Gail Mercedes Cole answered:
Net Operating Income (NOI), dividing it by the sales price, is the cap rate.

Example:
Say the property has an NOI of $250000, and the price is $2500000

$250,000/ $2,500,000 = 10% cap rate


Gross Rent Multipliers
Monthly rents $9,000 multiplied 12 = $108,000
$108,000/$2,500,000 = 23 gross rent multiplier

With NOI and GRM is is more.

Gail Mercedes Cole
EXP Realty
... more
0 votes 4 answers Share Flag
Thu Feb 14, 2013
Gail Mercedes Cole answered:
The definition of a bedroom is an enclosed room with a closet. I have shown properties with an extra room but not closet. That should not classified as a bedroom. In MDR you with see lofts classified as bedrooms. I have to defer to the tax records. On the listings the agent sent at top first is status and next to status is ADDRESS. Hit that link and you will have the tax accessors records on bedrooms, baths, year built, square footage and etc. for property. Lenders goes with the tax records.

Gail Mercedes Cole
EXP Realty
... more
0 votes 7 answers Share Flag
Tue Nov 9, 2010
Cricket Yee answered:
Sorry, the state rebate started on May 1, 2010. The federal one is good to go, though.
0 votes 1 answer Share Flag
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