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90094 : Real Estate Advice

  • All18
  • Local Info0
  • Home Buying13
  • Home Selling1
  • Market Conditions0

Activity 17
Thu Apr 20, 2017
Angelica P answered:
Hi,

I am happy to help you get your listing removed from Trulia. Your listing was posted on Trulia through Hotpads, which is a partner site that syndicates listings to Trulia and other websites. Here is a link to your Hotpads listing:

https://hotpads.com/13044-pacific-promenade-playa-vista-ca-90094-skr3q8/202/pad-for-sublet

You can remove your listing from Trulia by removing it from Hotpads. Your listing will remove from Trulia within 24 hours once you expire it from Hotpads. If you have additional questions, please let me know and I will be happy to help you.


Thank you for using Trulia!

Angelica
Consumer Care Advocate
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0 votes 1 answer Share Flag
Mon Feb 27, 2017
answered:
Hi Zareh,

You should consult a tax professional. He/she will probably recommend filing a Schedule E which is used to report income and expenses on rental properties. The mortgage interest, property taxes, insurance, HOA dues, repairs, etc. are expenses. If the expenses exceed the rental income received, that would be considered a loss which may help reduce your tax liability.

Best regards,

Elva A. Wormley
Mortgage Consultant
Office (408) 615-8500
C2 Financial Corporation
2845 Moorpark Avenue, Suite 209
San Jose, CA 95128
NMLS #331981 / BRE #01274093
... more
0 votes 1 answer Share Flag
Sat Sep 24, 2016
Gail Mercedes Cole answered:
Playa Vista Runway should be complete by early 2017. Mixed-Use community combining commercial and residential properties. High tech, media and entertainment companies have flocked to the Runway. Including Sony, Google, You Tube, Facebook and more. Residential income homes, townhouses, lofts and apartment rentals. The Runway is Playa Vista Silicon Beach epicenter. ... more
0 votes 4 answers Share Flag
Fri Dec 19, 2014
Josh Barnett answered:
Mon Oct 13, 2014
answered:
Yes you can use the 401k money to buy a home.

For mortgage help, call (855) 893-1177 or email for a free pre-approval in less than 10 minutes. We lend our own money and are licensed in 49 states and you can apply online at http://www.myccmortgagebn.com. We can do: FHA, Conventional, USDA, VA, HARP, Interest Only, Home Equity, Fixed, and Variable. Find out which product is right for you by calling Brad at (855) 893-1177.

Brad Neumann
Branch Manager
Crosscountry Mortgage Inc.
Phone: (855) 893-1177
Email: bneumann@myccmortgage.com
NMLS# 948036
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0 votes 11 answers Share Flag
Thu Sep 4, 2014
Randy Spalding answered:
So does every other lesser in the civilized world. Apparently you have never filled out a rental application. which all lessors require usually along with a credit report.
0 votes 6 answers Share Flag
Fri Nov 1, 2013
Jayne Clement answered:
The rental demand is strong in Playa Vista. It is a young professional demographic, and they tend to move frequently...and eventually buy. Most of the condos were built from 2003-2005, so everything in Playa Vista is practically brand new.

The rents are high, BUT...all of the condos are still affected by the Mello Roos taxes (a 20 year assessment), and this is, of course, absorbed by the condo Buyer, "in addition" to the HOA monthly fees. A ROUGH EXAMPLE for a 2BR in the $700k range would be Mellos Roos taxes of roughly $3400-$4000/year, and the HOA will most likely be in the $600-$700/month. So your monthly overhead will include roughly $900/month in these charges.

But...the upside is the demand. Most units rent within 30 days, and the monthly rent for the example size condo would be $3400-$3900/month. At the end of the day, the strength of your position will be determined by the way you buy the unit...based on a cash buy, or if a financed deal, then at what percentage of down payment. (Do you need a killer lender? I've got a miracle worker lender that I'm happy to refer to you).

There is one small hiccup with some of the condo buildings in Playa Vista...SB800, known as the California fix it law, giving the HOA's the ability to exercise their right to go back to the builder for repairs within the first 10 years. If you're financing your investment purchase, it's best to avoid the buildings that are currently in the middle of this. Instead look for those that have either already utilized their opportunity, or others that will probably do so after you've purchased (it's a good thing for an owner...but lender's don't like lawyers, and oftentimes when SB800 is pulled in, lawyers are also involved).

If you need an agent to help guide you through this process, please feel free to contact me directly. Wishing you the best of success in your investment property search!

Jayne Clement
Keller WIlliams Realty Los Angeles
BRE#01877738
Cell) 213/309-5005
JayneClement@gmail.com
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0 votes 15 answers Share Flag
Wed Oct 23, 2013
Gail Mercedes Cole answered:
Hi,

You have a $5,000- deposit in escrow. I is touch to judge if seller can keep deposit or if buyer's deposit should be refunded if do not have access to escrow instructions. What contingency have been removed or not removed? There are a multitude of reasons for escrow cancellation: professional property inspection, loan approval, final walk-thru. What is the reason buyer is cancelling escrow? Why is seller not signing off escrow instructions.Is there a contingency in instructions stating reasons seller can retain buyer's deposit? Seller's listing Broker and Buyer's Broker has access to escrow instructions and should be able to execute cancellation by both parties and buyer's deposit refunded.

Gail Mercedes Cole
EXP Realty Marina del Rey
853.9933
... more
0 votes 13 answers Share Flag
Sun Sep 29, 2013
eulemail answered:
I want to offer encouragement to others that it can be done and to not be intimidated by other advice (usually from agents/brokers) that it is a bad idea to make an offer on a house without an agent. Yes, it is a complex process and there is need to be careful, but there is a lot of good information available on the internet to help walk you through the steps of the process.

I think the key points are to consult with a real estate attorney and have them help write up the offer, make sure you read everything carefully, and ask questions if there is something you don't understand or need clarification about. I think what can feel overwhelming is the sheer volume of paperwork and the legal verbiage. But again, with careful reading, research with the help of the internet, and an attorney looking over your shoulder, you will be fine. Just be patient...there's a reason for all the paperwork and it really does make sense!

We are in the process of making an offer on a house without an agent. We found the property ourselves using Trulia. The frustrating thing we are finding is that dealing directly with the seller's agent can be challenging. The hitch we've encountered is that she's trying to get us to sign paperwork designating her as the Dual Agent since we don't have one. Initially, she presented this to us saying we "needed" to sign this. We questioned this, did some research to make sure, and clarified to her that we don't want to sign. We are specifically coming without an agent in order to hopefully give the seller more flexibility on the price. She then backed off and said we're right, we don't need to sign, she was just trying to "protect" us since we don't have an agent.

Near as I can tell, this is a bunch of baloney! The only thing she's trying to protect is the opportunity to collect the whole commission.

I will say that this is something you don't want to do alone. In addition to a good real estate attorney, make sure you enter this process with a spouse or good friend who is detail oriented and not afraid to question things. It helps if they have been through the process before, or have a background in finance/business, but this is not necessary. I would say more important is someone who can bring a healthy dose of skepticism and a spine to help cut through the baloney and stand up to an agent whose motivation is how much they are going to get out of the process.

The truth is that because of the internet, and apps like Trulia that allow individuals to access the MLS independently, real estate agents, and I would say buyers agents in particular, are a dying breed. So be wary of information out there discouraging you from making an offer on your own. They are going to tell you that you need them to help guide you through the process. I'm here to say that isn't true. You really can do this on your own!
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0 votes 40 answers Share Flag
Sun Aug 18, 2013
Stephanie Medellin answered:
If you've already been pre-approved for a loan (or are paying cash) and need help preparing and submitting an offer, please contact me directly. I can prepare the forms to be completed electronically. I can also help you determine a good offer price for the home based on comparable sales. I would become your agent in this case, and help you throughout the transaction. If you have not been pre-approved for a loan I can assist you with this too.

Stephanie Irto
Broker, Realtor
Equity Builders Home Financing and Real Estate
www.EquityBuildersRealEstate.com
Phone: 714.603.9383
Stephanie.irto@gmail.com
DRE# 01821152
NMLS#866086
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0 votes 8 answers Share Flag
Sun Aug 18, 2013
Gail Mercedes Cole answered:
Hi Carmen,

I have lived on the Westside for a very long time. Yes, there are areas of new construction in all areas of the city. One new concept for new construction is mixed-use. Playa Vista and the new Stella Apartments are mixed use. Combining residential and commercial in one structure or walking distance from the residents. That cut down on auto traffic. But the realty the traffic is a nightmare in all parts of the city. People have to commute for business, school, shopping and etc. The Metro may help but as large as L.A. is we are land locked and a car city. I am not sure what the alternative is to driving in this city. We need our cars. I do not have a crystal ball but I think the future maybe more traffic.


Gail Mercedes Cole
EXP Realty
310.853.9933
... more
0 votes 5 answers Share Flag
Sun Aug 18, 2013
Gail Mercedes Cole answered:
West L.A. has great neighborhoods.
- Westchester is a great area with single family home density
- Culver City has a mix of area single family home and condominium density.
- Westside Beach Cities: Marina del Rey, Venice, Santa Monica and Playa del Rey, CA. Venice, Santa Monica and Playa del Rey have a nice mix of single family homes and condos. Marina del Rey, CA is condos density.
-Playa Vista is the newest PUD community on the Westside. Average age of homes and condos is 10 years.
Explore this area good LUCK!

Gail Mercedes Cole
EXP Realty
310.853.9933
... more
0 votes 7 answers Share Flag
Mon Jun 17, 2013
Gail Mercedes Cole answered:
Playa Vista, L.A. 90094 is the newest community in West Los Angele, CA. In addition to the HOAs is an annual Mello Roos fee. Mello Roos http://en.wikipedia.org/wiki/Mello-Roos. The HOA plus Mello Roos combined increases monthly fees at Playa Vista. More information about Playa Vista Real Estate and Property Search.http://www.westlaestates.com/local/los-angeles-2/

Gail Mercedes Cole
EXP Realty
310.853.9933
... more
0 votes 6 answers Share Flag
Mon Jun 17, 2013
Gail Mercedes Cole answered:
Phase I went on sale in the mid 2000s any available for sale units are now resale. Like any other community Playa Vista was hit by the "Great Recession" and values were depressed. 2013 has seen a upswing in values. Spring 2013 is not seeing any reduction in prices but modest appreciation. A desired community mixed used residential and commercial. Residential: single family homes, condominiums and townhouses. Commercial: there are community retail stores, bank, coffee shop and restaurant. Retail stores are walking distance from most residential properties. Adjacent to Marina del Rey, north Loyola Marymount College and near beach. Phase III is under construction and will offer new condominiums, townhouses and single family homes. MORE information Playa Vista Real Estate Analysis and Property Search:
http://www.westlaestates.com/local/los-angeles-2/

Gail Mercedes Cole
EXP Realty
310.853.9933
... more
0 votes 7 answers Share Flag
Mon Jun 17, 2013
Gail Mercedes Cole answered:
Phase I when on market about 10 years ago a Planned Unit Development that is Leeds Certified. Playa Vista is the newest community in West Los Angeles, CA. Playa Vista is mixed use. It offers condominiums, townhouses and single family. Convenient retail stores, coffee shop and restaurant are walk distance from most residents. It is a all in one community. Adjacent to Marina del Rey, CA and north Loyola Marymount College. Phase III is under construction and will offer condominiums, townhouses and single family homes. Phase III will also offer a downtown Playa Vista. Phase II and III are also LEEDS Certified . In the summer there are free concerts at the park. Residents enjoy the environmental friendly new community. MORE information: Playa Vista Real Estate Analysis and Property Search:http://www.westlaestates.com/local/los-angeles-2/

Any more information please call ME.
Gail Mercedes Cole
EXP Realty
310.853.9933
... more
0 votes 6 answers Share Flag
Mon Sep 10, 2012
Kawain Payne answered:
Hello Lifoosk,

The seller has the right to select what offer they want to submit to the bank.

Perhaps the agent for the buyer wrote a great cover letter introducing the buyer. Maybe the buyers are a couple just starting out and buying their first home. If you are an investor , the seller may have selected an owner occupant over you.

Best of success to you!

Kawain Payne, Realtor
... more
0 votes 9 answers Share Flag
Sat Jun 4, 2011
David Burnham answered:
I would release the funds and start over. As others have stated, you can not sell your home until this is settled and I think the chances of winning are slim. There is no guarantee that the buyer would qualify for the loan when you started, which is why there was probably a finance contingency and if this was not removed, it should state that the buyer is entitled to a full refund if they don't qualify.

A default should also be defined in the contract. If the buyer used the bank that gave you a pre-approval and made an honest effort to secure a loan, then they probably have not defaulted.

It happens from time to time, and a little more now than it did 5 years ago.
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0 votes 8 answers Share Flag
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