Echo Park, CA

By Luis Montejano, Broker Associate and Realtor in Los Angeles (Sotheby’s International Realty, Los Feliz)

EchoParkLake has finally seen its waters recede, at least temporarily, after construction crews emptied the 14-acre reservoir into the Pacific. While what’s left isn’t exactly pretty—a lot of smelly mud, to start with—the city promises that this is the first step towards a cleaner, prettier park. An observation deck, and rain gardens are planned for construction, and lotus flowers will be planted, in accordance with the “historic” look of the lake.

While the “growing pains” between the draining and the re-opening of the park might not be particularly attractive, an Odor Monitoring Committee is in place to try and stave off any particularly overwhelming dead fish smells; local wildlife has been removed to safer areas, under the close supervision of Wildlife experts. Maria, the goose of OK Go fame, has been given the “o.k.” to stay, after being checked over, so she can socialize with construction crews while they’re around; happily for her, once the water has been changed, her home at Echo Park Lake will be a cleaner, safer one.

The draining of the lake might make for some interesting finds, as well; historically, everything from waterlogged shopping carts to antique Coke bottles have been found in the muck after the lake’s draining. Hopefully, nothing too controversial pops up—in the meanwhile, city officials are trying hard to keep residents, both human and fowl, happy. Public Works officials point out that the park’s wildlife will, eventually, be better off with the cleaned-out waters of the reservoir, despite the temporary inconvenience. For local residents, promised improvements to the park should help them stay patient through the months of mud and covered fences surrounding the area.

So, while the views from Echo Park real estate may temporarily be obscured by covered fences, the lake reduced to a muddy, smelly mess, take comfort from this; the long-overdue cleaning of the waters, and removal of the trash built up in the bottom of the lake, along with planned park improvements, will eventually make Echo Park Lake a better experience for all of its fans and residents—fish, fowl, or human.

By Luis Montejano, Broker Associate and Realtor in Los Angeles (Sotheby’s Internatiional Realty, Los Feliz)

In the era of social media, of “smart” phones and Google searches, customers are finding out that they don’t have to put up with mediocre, or even outright horrible, customer service. In fact, 2011 has proven this already; companies are striving more than ever to ensure that their clients receive only the best treatment, from people who genuinely want to help and who are willing to go above and beyond. Companies are aware of how easily customers can not only move on to a different business, but also how easily those same customers can make their voices heard if they’re dissatisfied, especially online.

So what’s important about this trend? As a consumer, it means that the expectations have changed. Sellers and Los Angeles home buyers have the right to expect truly above-and-beyond service from any company they choose to patronize: a social media presence, after all, doesn’t simply mean having a facebook or a twitter, it means responding to inquiries made via those mediums, no matter how trivial. Customer service “centers” halfway across the world are fading fast, as well; companies are learning that their patrons aren’t interested in having their problems solved by someone they can hardly understand who is thousands of miles away.

 This awareness that customer service truly is the heart of any business changes the playing field, and in response, companies are increasingly trying to form a “personality” with customer assistance at its heart. Companies that build a reputation for stellar service will continue to thrive, as their reputations build, and repeat business grows. Sotheby’s is a great example of this: their reputation for integrity and truly great customer service has ensured their success even through years of uncertain realty markets.

Customers are realizing, more and more, that they have a right not just to expect acceptable service from companies they choose—they have the right to expect the above-and-beyond, true dedication to their satisfaction. This applies in all markets, and Echo Park real estate is no exception.

 Do what you do so well that they will want to see it again and bring their friends. ~ Walt Disney

Funky architectural in the Echo Park Hills

If you like the unusual and need a spacious place in the hills, this funky Echo Park architectural could be just the ticket. The house is more than 3,500 square feet on a 26,000+ sf lot on a street that I must admit I had never heard of before I went to see the house during the broker's open today. Fellowship Park Way is most likely not a common street name to most folks. It's set in a remote canyon in Echo Park off of Landa on a street that I didn't even know existed until today.

Besides from being off the beaten track, 2341 Fellowship Park Way is an eclectic home complete with a garden room and an indoor pond with a waterfall. How is that for a unique Echo Park home? The listing agent indicates that assessor's records reflect 2,963sf though the house measures at 3,581sf and has an additional small bonus building with bath. The current owners have lived here for many years and added on along the way in a sort of "Winchester Mystery House" manner. I was glad to have a copy of the floor plan of the 4-level structure so I could find my way around.

The home includes a total of 4 lots which is more than ½ acre of cascading gardens with meandering trails. If you are looking for a big flat yard, this is not the place for you. On the other hand, if you love the feel of being in the Echo Park Hills with canyon, mountain, city light and Griffith Park Observatory views, it could be worth your time to take a look at this home.

Would you like to live in 5 bedrooms and 4 1/2 baths? There are bright open spaces with high ceilings and the kitchen has 2 sinks and 2 stoves. The upper level of the home has its own kitchen, bath, bedroom and living room so it can function as a mother-in-law unit or fully contained guest suite. (Wouldn't it be nice if your house guests actually cooked for themselves?!) Seriously, this would be a great thing for extended family or even when you are having people over for the holidays. I could personally use a second kitchen when Thanksgiving rolls around!

If I've sparked your interest, let's go take a look at this one together. There will be no public open houses. For more information on buying or selling property in Silver Lake, Echo Park, Los Feliz, and surrounding areas, contact me directly at 213-215-4758 or check out LApropertySolutions.com

Jenny Durling
Broker Associate
L.A. Property Solutions
213-215-4758
info@LApropertySolutions.com
LApropertySolutions.com

Copyright © 2011 By Jenny Durling * Funky architectural in the Echo Park Hills*

Search for Homes Now Available in Echo Park

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Hey Echo Parkers -- or Echo Parkers-to-be! Welcome to my Echo Park series: we're checking out this great remodel on Portia in Echo Park today.

It's a 3 bed, 2.5 bath home on a grassy hill, which takes advantage of the great views of the Echo Park hills. With hardwood floors, crown molding, granite countertops, and a grassy backyard, this home is perfect for those seeking a bit of privacy, but like being close to the shops and restaurants on Sunset.

A 1387 square foot house priced at $625,000, this home is ready to move in!

www.CarolineSellsTheCity.com

Last week, I blogged about what young L.A. Millenniums wanted in their first home and presented a couple of different housing options that these first time buyers are looking for in their first home.

What Do Most 20-Something Buyers Want in Their First Home? - Definitely NOT Their Parent's Home!

ATTENTION LOS ANGELES FIRST TIME BUYERS: Wonderful Downtown Home is Eligible for Down Payment Assistance

At this point, I'd like to offer another option for the first time buyers who is looking to be downtown and minutes from all that downtown living has to offer.

This 2bd/2ba completely remolded Echo Park home is a beauty! With nearly 1,200 sq. ft. of living space on a nearly 6,000 sq. ft. lot, this wonderful home has been completely upgraded with granite countertops, stainless steel appliances and tile and wood floors throughout.

The open floor plan and great architectural high ceiling features make the home feel really spacious! The new landscaping in the front offers great curb and a low maintenance yard.

Just minutes from Elysian Park, Dodger Stadium, L.A. Civic Center, Bunker Hill, and public transportation, you can own this wonderful home for less than $1,800 a month (PITI). Perfect for the young, professional couple or two young, single professionals who want downtown living.

The best part about this home is that it is eligible for down payment assistance through CalHFA. Since 1975, the California Housing Finance Agency (CalHFA) has been making low interest rate loans through the sale of tax-exempt bonds. As the state's affordable housing bank, CalHFA is a completely self-supporting state agency and the bonds are repaid by revenues generated through mortgage loans, not taxpayer dollars.

CalHFA's mission is to provide affordable housing finance opportunities to low and moderate income first-time homebuyers. They do this by offering below market, fixed rate mortgages along with down payment assistance (dpa) programs. Borrowers must be first-time homebuyers as well as meet the program income guidelines and requirements and the property must be within CalHFA's sales price limits.

With this particular property though, because it is in a federally designated targeted area, CalHFA will waive the first time buyer requirement. What this means is that the dpa is also available to low-medium income borrowers even if they aren't first time buyers, however, they will still need to meet the income limit guidelines.

CalHFA generally offers a reduced interest rate for eligible homebuyers who meet the "Low Income" limits, adjusted for household size. Loans with competitive interest rates are also available to "Moderate Income" households. The following are the current rates to eligible low-medium income applicants for both conventional loans as well as the FHA loans:

CHDAP provides down payment assistance in the form of a deferred payment second loan, commonly referred to as a "silent second" because you make no payments on the loan for as long as you hold the loan. The amount of the loan is up to the lesser of three percent (3%) of the purchase price or appraised value.

Today's real estate market can be really scary, which is why it's important to get as much information as possible before starting your search. The pre-approval process is not a simple process and it's because it can get really complicated and convoluted, that borrowers today need affordable loan options that are best suited for their own needs.

For more information on affordable home loan options, please feel free to contact me, Donne Knudsen, at 805.2069123 or donne4loans@earthlink.net.