About Los Angeles County, CA

For Lease in Ocean Park, Santa Monica Wonderful 4 bed 4 Bath Home

11-22-09

Jane Peters Los Angeles Living, Los Angeles Homes

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Office: (310) 473-6919

Mobile: (310) 351-9208

Great house available for long-term lease at the beach in Ocean Park, Santa Monica.

This, 4000 sq. ft. 4 bed, 4 bath house is steps from the beach in the heart of Ocean Park. There is a two-car garage and spaces for more, a definite plus where parking is at a premium. The views are glorious. Offered at $9,000. Also available a full guest-house.

Front

Living Room

View

Through Back

Swing

Windowh

Street

Beach

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Chatsworth New Construction Townhome Auction

11-21-09

Harley Ramsey Chatsworth, CA Real Estate

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Mobile: (818) 822-8229

This last Sunday, I went to my first live real estate auction. I have been to fundraising live auctions before for my kids' schools, but this was a new experience! Auctioneer A cute puppy or front row seats at graduation might fetch a handsome sum, but this was a whole different level!

On the auction block were twelve newly built townhomes in a desirable Chatsworth neighborhood. The units had been open for previewing for a few weeks prior to the auction: I had gone twice, with two different buyers one of whom accompanied me to the auction with the intent of making a bid and hopefully walking away a first time homebuyer. The units ranged in starting bid prices from $140,000 to $170,000. All units featured upgraded materials, high ceilings, and large open kitchens with 3 bedrooms and 3 baths. The square footage ranged from a bit over 1500 to a bit over 2500.

Those were the only numbers my client and I knew going in--what we didn't know was how high the bidding would go. The auctioneer began with the published starting bid and went up quickly in $10,000 increments; as the bidding escalated and there were fewer bidders he went up by $5,000 increments. Eventually, he went up in $1,000 increments, often between just a few bidders. It was interesting to see how the smaller increment bidding played out: if the price were, say, $320,000 and nobody bid up to $325,000 the auctioneer would ask for $321,000 then $322,000 and so on. Guess what? The price would eventually exceed the earlier stopping threshold of $325,000. Perhaps buyers felt they were so close--what's another thousand dollars?

Ultimately, the sales prices ("subject to seller's acceptance," which the auctioneer said every time after booming "sold!") for the units ranged from just over $300,000 to $400,000--well over double the starting bids! And my buyer? He is still waiting to be a first-time homeowner, but his day will come!

If you would like more information on new construction in the San Fernando Valley, or Chatsworth properties in general, let me know and I will be happy to tell you more.

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Will You Qualify For A Move-Up Homebuyer Tax Credit?

11-21-09

Elaine Carlson

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Office: (310) 802-2393

Mobile: (310) 701-5698

This Homebuyer TaxCredit of $6,500 (married couple) is available as of November 6, 2009 for couples with combined adjusted gross incomes that do not exceed $225,000 (for singles a $3,250 credit and adjusted gross income not exceeding $125,000). You must be in contract on a new home by April 30, 2010, and must close escrow by June 30, 2010.

The homeowner must have owned the prior residence for a consecutive 5 out of the last 8 years. The new house cannot cost more than $800,000 and must become your main residence as of the date of close of escrow. You do not have to sell your current home (you may rent it out).

As noted in my November 6th article, "...credit will help sellers of Palos Verdes real estate as they increase the pool of buyers for their properties with "trickle up" activity for Palos Verdes buyers who have sold their homes" to buyers taking advantage of this credit. To date in 2009, Palos Verdes Peninsula has had 44 single family homes and 112 townhomes/condos sell for $800,000 or less. That is 11% for single family residences and 96.5% of the total townhome/condo market.

This is a great time to buy - Interest rates are at historic lows and until April 30th you can get a tax credit. Kenneth R. Harney in a Los Angeles Times articles writes, "do not assume that Congress will provide another extension. All the political and budgetary signs point the other way, and some of the primary authors of the credit insist that this is it - no more extensions next year. Take them at their word."

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PATH and Synergy Learning Center Collaborate on Property Management Training Program For The Unemployed

11-21-09

Johnny Burke

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Mobile: (323) 527-6600

LOS ANGELES- People Assisting The Homeless (PATH) is pleased to announce a new partnership with Synergy Learning Center to form a property management training program provided through PATHFinders Job Center, a jobs program for people who are homeless or at risk of being homeless. This new endeavor will be called the Synergy Property Management Program.

Synergy Learning Center is known for its expertise in training for careers in the property management industry. PATH is known across the country for its innovative solutions to homelessness. By combining these strengths, both entities will provide a comprehensive property management training program that will encourage long-term career development and self-sufficiency.

"We see this partnership as a wonderful opportunity to transition people into property management careers and housing, especially during this struggling job market," said Janet Kelly, PATH's Executive Director.

The Synergy Property Management Program will introduce participants to property management as a career option and provide comprehensive training-including instruction in Yardi property management software, an industry leader for affordable and market-rate housing-and job placement services.

"My goal and desire in turning over Synergy Learning Center to PATH is to see it prosper and grow beyond what I could provide," said Dona Eng, founder of Synergy Learning Center. "I will chair an Advisory Committee to provide guidance, be an industry liaison and identify client employment opportunities and ongoing funding sources. I am thrilled with this new arrangement and confident that this will allow us to help more people who are in vulnerable circumstances."

Founded in 1984, PATH is a non-profit community organization that provides integrated services and supportive housing for people who are homeless or at risk of being homeless. Each year, PATH serves 14,000 homeless men, women and children from throughout Los Angeles County. PATH is a member of PATH Partners, an alliance of service and housing agencies. For more information, please visit its website at www.epath.org.

PATH Partners Press Contact: Cali Zimmerman
(323) 644-2273; caliz@epath.org

Synergy Learning Center: Dona Eng
(818) 981-0703; dona@yardi-support.com

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