Trulia Community - Advice from neighbors and local experts

Find Your Community
We couldn't find that location. Please try again.
Get Expert Advice

Home Buying in Marina del Rey : Real Estate Advice

  • All69
  • Local Info3
  • Home Buying20
  • Home Selling6
  • Market Conditions1

Activity 17
Thu Feb 14, 2013
Kimberly Caldwell answered:
Also this one.... 30 Galleon St, Marina Del Rey, CA 90292 if you look at photo #24 you see that the "bedroom" is just an open space that the stairs come into with a bed thrown in the corner.... this isnt legally a 3rd bedroom is it? ... more
0 votes 7 answers Share Flag
Fri Jun 14, 2013
Reid Kaplan answered:
Hi Peter,
I think a property like this could be a decent cash flow property if you get it for the right price. However, I don't think it is a great property for appreciation due to the land lease.

There are already many buyers and lenders who are turned off by this unique ownership arrangement, so the pool of potential buyers is already limited and may only decrease as the lease gets closer to expiration and there becomes more uncertainty about its renewal. I believe there is about 50 years left, so it may be a while before this happens, but once we get close to the 30 year window, I believe financing will be difficult and people will shy away unless the term is extended well before its expiration.

This land lease should not ever affect renter demand and in the currently strong rental market, it should be leased pretty much constantly. Currently, there is buyer demand for these units and they can sell quickly if priced right and show well. Good luck and feel free to contact me with further questions,
-Reid
... more
0 votes 6 answers Share Flag
Wed Sep 4, 2013
Endre Barath answered:
czickel, great question are you looking for a full service condominium, do you want to be close to the beach or just want a regular condominium? There are good values for each..
Reach out to me directly , I live in the Marina.
Endre Barath,Jr.
Coldwell Banker
homes@endrebarath.com
... more
0 votes 8 answers Share Flag
Wed Dec 28, 2011
Hartman Cole Real Estate answered:
Hi Sacha,

I would be happy to show you what's available. What is your price range and desired move-in date?

Best,

Brad
0 votes 6 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 0 Answers Share Flag
Mon Sep 27, 2010
Monique & Joe Carrabba answered:
Hello Josfina,

The HOA amounts for this unit on Marina City Drive are $900 per month. This unit is in escrow.

Best,

Monique Carrabba
The Carrabba Group
Kelller Williams Hollywood Hills
(323) 899-2900
mcarrabba@kw.com
... more
0 votes 3 answers Share Flag
Thu Jul 15, 2010
Lezlie Brazil answered:
Hi Aurel,

This unit at Marina City Club is in escrow.

Please contact me regarding other properties in Marina del Rey.

Lezlie Brazil
DRE #01748609
Keller Williams Realty Marina/LA
4644 Admiralty Way
Marina del Rey, CA 90292
T 310-991-4263
F 310-861-0207
E lezlie@lezliebrazil.com
... more
0 votes 4 answers Share Flag
Fri Feb 19, 2010
Dan Chase answered:
Since the building went bankrupt are the units all sold or are there a lot of rentals in the building also?

Having a building that is mixed is a worse investment than one that is all privately owned.

Does the building have a HOA? What are its fees? That is important to find out and know.
... more
0 votes 8 answers Share Flag
Tue Feb 11, 2014
Shel-lee Davis answered:
Mary:

It is difficult to answer the first part of your question "what is the market like for first time home buyers" without more information. "The market" depends on your price range and the area you are shopping in. In real estate, markets are very neighborhood specific. For example, in the beach cities, if your are looking for single family homes under $600K, the market if very competitive. There are very few listings and lots of buyers. Then again, if you are looking in the $1.0 mil and above range, you have much less competition, since loans are harder to get in this range, and there is more inventory available (so lower demand and higher supply, translates to a better chance of getting what you want). If you could be more specific about the your preferred area, property type and size, and price range, it would be easier to answer this question.

Next, "are there still FHA loan?" Pretty much, there are only FHA loans, unless you have 20% or more as a down payment. The good news is, FHA still has "jumbo" loans up to $729,750 (check with your lender as this varies by county) which require only 3.5% down, and they are at very low/competitive rates right now.

Last, "what do experts recommend first time buyers do today?" My guess is that experts would say; Work with someone who specializes in helping first time homebuyers. And just as importantly, work with someone who makes you comfortable, answers your questions, helps you find a great lender, communicates effectively and knows the programs available for first time homebuyers. You will spend a lot of time with your Realtor between your first meeting and the time you close escrow, so make sure that you work with someone who makes the searching, evaluating and buying process joyful. You should have fun finding your first home. Don't settle for less. Let me know if I can be of any further assistance to you and Dare to Dream.

Shel-lee Davis. CDPE
Your Real Estate Consultant for Life
RE/MAX Palos Verdes Realty
http://shel-lee.listingbook.com
... more
0 votes 8 answers Share Flag
Fri May 23, 2014
Lezlie Brazil answered:
Dear Home Buyer,

HOA fees vary greatly in your desired areas. Based on such factors as the age of the building, total number of units in the complex, square footage of the unit, earthquake insurance and most importantly the featured amenities, HOA fees range from several hundred dollars to over a thousand dollars in Marina del Rey and Playa del Rey.

My suggestion is for you to work with an experienced real estate agent who is intimately familiar with these beach cities. Your agent will also be able to tell you other important HOA information such as financial stability, pending litigation, upcoming assessments and loan status.

Happy house hunting!

Lezlie Brazil
DRE #01748609
Keller Williams Realty
4644 Admiralty Way
Marina del Rey, CA 90292
T 310-991-4263
F 310-861-0207
E lezliebrazil@kw.com
... more
0 votes 6 answers Share Flag
Wed Aug 25, 2010
Dorene Slavitz answered:
Wow! I love those condo's and what a great price they are. I don't think they are a bad investment at all. IF you area thinking of selling in 5-10 years, I'm not so sure the market will correct itself that fast. You could lease your property though, leases in Marina Del Rey are in demand. ... more
0 votes 3 answers Share Flag
Sat May 25, 2013
M.D.J answered:
Sat May 30, 2009
Lezlie Brazil answered:
Angela,

The pet policy at Azzurra is 2 pets per unit with a 35 pound weight limit.

The 450 condo residences features floor to ceiling glass walls, oversized balconies and city and marina views. The building's amenities include a media gallery, pool terrace, fitness center, outdoor sky lounge, valet parking and concierge service.

The current units for sale include:

1 bedrooms: priced at $399,000-$689,000; 820-1,421 square feet
2 bedrooms: priced at $599,000-$2,285,000; 1,229-1,993 square feet
3 bedrooms: priced at $979,000-$2,800,000; 1,972-2,331 square feet

Please contact me for additional information.

Lezlie Brazil
Keller Williams Realty
4644 Admiralty Way
Marina del Rey, CA 90292
T 310-991-4263
F 310-861-0207
E lezliebrazil@kw.com
... more
0 votes 2 answers Share Flag
Mon Aug 9, 2010
Dorene Slavitz answered:
Well, the Marina City Club has been around for quite some time. It is a popular location with fabulous views.
I believe the individual Condo's have been updated by residents, but the exterior is pretty much the same as it was years ago. ... more
0 votes 2 answers Share Flag
Mon Aug 19, 2013
Cameron Piper answered:
Adam,

Only with an agents help, would I approach this strategy, and would do so cautiously. The ultimate question you have to ask yourself is whether or not you are willing to walk away if they don't meet your price. Most buyers underestimate the amount of emotional attachment they have to real estate when they buy. With this in mind be honest with yourself on this point.

You need the agent for many reasons, but ultimately in these sorts of transactions there is a buffer that they provide that will be necessary to get this deal done. It is very difficult to present your own offer and to come in low. Good luck

Cameron Piper
... more
0 votes 14 answers Share Flag
Fri Aug 29, 2008
Shel-lee Davis answered:
David:

I will answer your question with a question. Are you seeing these homes on RealtyTrac as a foreclosure? If that is the case, what you are seeing is the loan amount and/or the delinquency amount on that loan. These properties may not even be for sale. The owner has defaulted on his loan, however, he has over 100 days to try and fix the problem or sell the home, before the bank forecloses.

These properties are in the pre-foreclosure phase and may not even be listed for sale. With many years experience in this area of the market, I would be happy to help you try and land one of these homes before it goes to foreclosure. Let me know if you would like to look into this further, and Dare to Dream.

Shel-lee Davis
Real Estate Consultant
RE/MAX Palos Verdes Realty
... more
0 votes 3 answers Share Flag
Thu Feb 14, 2013
Dorene Slavitz answered:
Put simply, the cap rate is the net operating income divided by the sales price. It is not possible to calculate the cap without all the information.
Dorene Slavitz
Residential & Commercial Realty ... more
0 votes 4 answers Share Flag
Search Advice
Search
Home Buying in Marina del Rey Zip Codes

Followers

287