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Venice : Real Estate Advice

  • All55
  • Local Info1
  • Home Buying9
  • Home Selling2
  • Market Conditions1

Activity 20
Fri Apr 1, 2016
Desiree Lapin answered:
There many live/work lofts in Venice! One new development you may want to consider is the Silicon Beach Lofts located in Venice off Princeton Drive. The live/work lofts range in size from 1,000 sq.ft. to 3,700 sq.ft. and were entirely rebuilt with modern touches. To learn more about the Silicon Beach Loft amenities and tech features, have a look here: http://www.desireelapin.com/la-property-of-the-week-modern-silicon-beach-lofts-quickly-selling-off-in-venice/ ... more
0 votes 6 answers Share Flag
Fri Dec 11, 2015
Rich Reed answered:
I like this building cost estimator: http://www.building-cost.net/CornersType.asp

Divide the total cost by the sq ft.
0 votes 2 answers Share Flag
Thu Jun 25, 2015
Daniel Castiel answered:
ask away....you need to ask specific questions
0 votes 4 answers Share Flag
Wed Dec 17, 2014
Robert Chomentowski answered:
Check out Craigslist and search for comparable 1 bed rentals in Venice that are similar size, similar upgrades and similar amenities. That will give you a good idea on rent range. Also Zillow, rentomenter, Zilpy are sites where you can plug in a address and details of a unit and it will give you a estimated rent range. ... more
0 votes 1 answer Share Flag
Mon Oct 13, 2014
Cindy Davis answered:
Good Luck Julie. I hope you are actively looking at all online and print ads. To this day, craigslist maintains an active source of available rentals.
0 votes 1 answer Share Flag
Sat Jun 28, 2014
Dorene Slavitz answered:
I agree that you need to establish a relationship with a local Realtor for timely information.
0 votes 2 answers Share Flag
Fri Nov 15, 2013
Dorene Slavitz answered:
Dear Richard,
Yes there are some foreclosures and short sales out there. You do need cash to compete with the other buyers out there.
0 votes 6 answers Share Flag
Mon Aug 26, 2013
Danny Hart answered:
Since it is part of the city of Los Angeles it is $4.50 per $1000. There is also a county transfer tax of $1.10 per $1000. So, $5.60 per $1000 total. [City Transfer Tax:$4.50 for each $1,000 or fractional part thereof (LAMC Sec. 21.9.2); LA County Transfer Tax: $1.10 for each $1,000 or fractional part thereof (Rev. & Tax Code Sec. 11911-11929)] ... more
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Wed Aug 21, 2013
Ann_globenetrealty answered:
There are number of steps involved when looking to a buy a house in the US, these are as follows:

1. The buyer will make an offer to the seller for the property, your offer will usually require you to also provide the following:

• A Check Deposit, also known as an ‘Earnest Money Deposit’
• A Pre-Approval Letter from your lender (The Bank)
• A Proof of Funds Available (Bank Statement)
• Identification Documents

It is normal practice for both the buyer and the seller to have a real estate agent or broker working on their behalf; the offer for purchase will be made by the buyer’s broker to the seller’s broker.

2. If the seller accepts the buyers offer to purchase the property, the buyer’s broker will then deposit the check deposit into an escrow account.

3. Once the money has been deposited into the escrow account, the buyer will then make arrangements to have the property inspected for such things as structural damage, termite infestations, roof damage etc., etc. Once the buyer is satisfied that the property meets their approval they can remove any contingencies to the offer. It is at this stage that the ‘Earnest Money Deposit’ becomes non-refundable.

4. The buyer will now need make a loan application to his bank or mortgage company for the balance of the purchase price. Before approving the loan application, the lender will perform an appraisal and valuation of the property; if they are satisfied with the property then the loan underwriter will approve the loan.

5. The buyer will then sign all the necessary paperwork in front of a notary public witness at the escrow company. This will include such documents as the loan application from the bank as well as documents from the real estate agents and the seller. The loan will then get transferred by the bank, the seller will pay off any monies they currently owe to their own lender and then the seller will transfer the property ownership deeds to the buyer. This grant deed will then be recorded by the County Clerk Recorder service and the buyer becomes the legal owner of the property.

Web Reference : http://www.globenetrealty.com
... more
0 votes 9 answers Share Flag
Sat Dec 15, 2012
Dorene Slavitz answered:
There are listings in the area in your price range. I recommend you contact a local Realtor to assist you.
0 votes 3 answers Share Flag
Sat Nov 3, 2012
Dorene Slavitz answered:
Duplexes are listed as "income property" in most searches.
0 votes 2 answers Share Flag
Fri Sep 7, 2012
Endre Barath answered:
Angel, a great deal depends on what the reason is? Is the buyer, the seller at fault or is there some other reason why escrow does not close? There are a multitude of reasons that could be. To give you a better answer we need more information. I represent buyers and sellers in the Venice area and am familiar with the Purchase Agreement. Feel free to reach out directly if you have additional questions.

Endre Barath,Jr
Prudential California Realty
Beverly Hills,CA
310.486.1002
homes@endrebarath.com
... more
0 votes 4 answers Share Flag
Tue Sep 4, 2012
Endre Barath answered:
Angel this is a very good question, without seeng the Purchase Agreements Terms it would be virtually impossible to tell. Have you removed all your investigation contingencies? What were the terms you agreed to in the original purchase agreement with counter offers will determine if the "buyer" owes anything. At the minimum I would expect the buyer to owe cancellation fees to the Escrow Company.

If you need additional help contact a real estate attorney, if you need a referral, please reach out to me directly at
Endre Barath,Jr.
Prudential California Realty
Beverly Hills,CA
homes@endrebarath.com
310.486.1002
... more
0 votes 6 answers Share Flag
Sat Dec 17, 2011
Endre Barath answered:
Joanna, great question, it is what I call a "timeless" question. Many first time buyers are asking this question. Seasoned buyers, investors know the answer. Interest rates are at a 60 year low, prices are at 2003 levels. The answer is clear. The reality is people have a "heard mentality" they generally buy when "everyone else does" the savvy buyers buy when the opportunity is there. The real question is why do you want to buy? If you can answer that then everything else falls in place. My advice is you should buy so you get rid of your "Landlors" and have a place that is yours and insures that your "cost of living" (what was your rent) remains a constant not something that is open to annual increases.
If you want more advice feel free to reach out to me at homes@endrebarath. com or call me on my mobile at 310.486.1002. Warm regards, Endre
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0 votes 12 answers Share Flag
Sat Sep 3, 2011
Sharon Paxson answered:
There are always some hot deals, but much depends on your ability to compete with other home buyers who are looking for the same. Especially with REO or bank owned properties, many investors are using cash to purchase them with the least amount of contingencies. ... more
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Wed Aug 31, 2011
Sri Kesava answered:
Hi Sarah,

The REO business has become quite streamlined and are listed along with standard sales and short sales. When looking at a listing, there is a section called "listing type." It will either say: Standard, Short pay, or REO (sometimes says foreclosure).

Most people have said to work with an agent. I agree. Pick someone you feel comfortable with and who has reviews about them from past clients online. Ask them for the name/number of their lender and get prequalified. There is no point shopping unless you know how much you can spend ;) If their lender can't qualify you, always get a second opinion.

Best of luck.
... more
0 votes 12 answers Share Flag
Fri Jul 22, 2011
Andrew Jones answered:
Hi Claire,

You should be talking with your agent about both of these important issues since none of us here can possibly know what the material facts are.

In general, yes can you negotiate with the bank. Yes you can challenge their assessment of the home's value with examples of comparable sales and broker's price opinions of your own. The bank may not agree, but you can try.

I don't know if the encroachment issue is the deal-breaker that Ron is suggesting, but you need to talk with your agent about this as well. If you don't do some serious exporation regarding the potential liabilities of this before you agree to the sale in the first place you should consider thoroughly investigating it before your inspection and/or disclosure periods expire. Though I don't know the nature of the encroachment, it's hard for me to imagine that this won't involve talking to a real estate attorney in many cases. You may also think about holding off on spending money pursuing this sale until you really understand this issue.

Best of luck.
... more
0 votes 3 answers Share Flag
Wed Oct 6, 2010
David Chiles answered:
Thank you for your question about a foreclosure property you saw listed on this site. Please be advised that RealtyTrac publishes Notice of Default information that includes all properties where Notices of Default have been filed. This does not necessarily mean the house will be foreclosed.

I suggest contacting a real estate agent that is signed up with RealtyTrac for more information about that specific property. If you do not feel comfortable doing that send me an e-mail with the street name and I will find out what the situation is and reply via e-mail.
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Sat Jun 12, 2010
Heather Paul answered:
If the lease is one year of longer, the standard listing commission is 6%, however it is always negotiable. I wouldn't list it much less than this as this commission is split between the listing agent/listing broker and also the selling agent/selling broker and if you do many agents may not show your property to their clients highly reducing the amount of showings your property will receive. If the rental period is a shorter term than a year, it can range between 6-10% on average. I personally handle rentals everyday, feel free to call me or email with any questions you may have. We screen all applicants and run their credit reports.

Have a great day,
Heather Paul, Realtor
Coldwell Banker
310-923-2334
... more
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