Thuy Le

When is a $4.4M home a great value? When it is worth a while lot more. The word on the street is that this home already has 7 offers pushing the winning bid significantly OVER asking! What does this home have that is so immensely appealing… you decide and let me know if you wish to make an appointment to see it as well.

A buyer was about to close escrow on a property which is in close proximity to the 405 freeway and was not aware that the freeway was being widened. This info has been all over the news and yet this is a material fact that the seller and yes, agents, should have stated in writing in the various forms. The buyer cancelled the escrow. Lesson to share -- it is absolutely critical to disclose all material facts even if a seller thinks that the buyer should "already" know.

Los Angeles is by far one of the most exciting and diverse cities in the country. The plethora of neighborhoods and the sheer number of them create a gigantic pool of incredibly interesting options for the native Angeleno, newcomer, and tourist alike. Each area touts some significant differences in lifestyle options – from restaurants, to shops, to the best grocery store to pick up candied ginger.

Observing neighborhoods on this level is fantastic and fun. Getting down to the nitty gritty for real estate investment purposes requires more data and analysis that go beyond whether there’s a fancy frozen yogurt shop on the corner.

The following reports are compiled using information relating to housing ownership type, education attainment status, income level, smoking information, and even temperature. Combine this level of detailed data with your own take on the neighborhood and add in real estate market trends provided by us – and the knowledge you will have regarding any neighborhood is incredibly powerful to help in the decision making process. For a conversation on what’s happening in each neighborhood, contact us.

Marina Del Rey

Santa Monica

Brentwood
Westwood

Several agents have been contacted by a male in Istanbul who claims to work for BMG/Sony and wants to puchase property in the United States. He provides his criteria, price point, and focuses on getting magazines sent to an address in Istanbul. It has cost some agents hundred of dollars. He has been running this scam for at least 4 years. When he e-mailed me out of the blue, it seemed way too good to be true so I asked for his financials and he couldn't come up with them...not surprising!!!

Be very wary if you get an e-mail with something like what we have received below. He sends the same e-mail out to everyone and he must send this e-mail to hundreds of agents to get free magazines.

****

Good Day From Istanbul,

My name is ***** Cakici.I have a music company called Sony/Bmg
in istanbul - Turkey.I have been in the music business for over
25 years.I have properties in istanbul and London.

Well,I'm also planning to purchase a property in Los Angeles area
and would like to work with you on this property search.
My price range is 12 million dollars.

Im interested in Santa Monica,Brentwood,Bel Air and Beverly
Hills,Sunset Strip and Hollywood Hills.

I have special preferences for the house:

- Single family
- 2 or 3 stories
- Mediterranean ,Spanish,Hacienda,French,Tuscany,Contemporary or
architectural style.
- City lights or Ocean view
- 4 or 5 bedrooms and 5 bathrooms
- Balcony or terrace
- Pool
- Backyard
- Fire Places


I have visited your website and could not get info enough
about the homes and the city.So,I need more information about
the sale homes on the market.Please e-mail me virtual tours
or photos of the homes that fit my criterion.

i also need some magazines:
- Homes And Land - Malibu Mag.
- C Magazine. http://www.magazinec.com/
- West Hollywood Visitors Guide.
- Where LA Broshure.
- Beverly Hills Visitors Guide.

Could you mail these mags to my address via Ups or FedEx?
P.S: I know the magazines from my L.A trip.

<<< He gives an actual address and phone number.>>>

Website: http://www.sonybmg.com.tr/

I will let you know that which homes are of interest to me
When I receive the listings on the market.

In the meantime,I'll be in L.A on 15/03/2009 and will be
staying in Hotel Bel Air or The Beverly Hills Hotel for the house
house hunting.

I look forward to hearing from you and meetin with you on
15/March/2009 in L.A.

Please reply to this e-mail as soon as possible.

Best Regards

Do you predict an uptick in the housing market in 2009?

In our capitalistic system, the pricing of all goods and services is set by the supply/demand curve. If supply drops and demand remains constant, or if supply remains the same and demand increases, prices move up. There is another curve known as the fear/greed curve. As people become fearful they will be left out or lose out, they make decisions accordingly based on anticipation of gain or fear of loss. We are already seeing improved volume in home sales; and some pundits say these two models combined will continue to improve home sales and stabilize pricing in 2009.

Hundreds of experts have expressed their opinions about the real estate market, and we certainly anticipate that the wild economic swings of the last 60 days or so will have an impact on both punditry and reality. Only the most pessimistic are predicting a further drop of 20% in housing prices while many are suggesting that we are at or very near the bottom now. And historically, we do not know that we are at the top or the bottom, whether it was the Tech Bust, Real Estate Boom or Bust -- for a good 6 months until we're well and good into it.

How does that effect potential buyers or sellers of a residence or investment property in the Los Angeles Market? For buyers, you may want to take heed of the old saying that no one can predict a bottom,
you can only get close. The next several months should see the lowest combination of values and mortgage rates possibly for another generation. Make offers on homes today that you can see yourself living in for the next 10 years, and position those offers with a cushion taking into account your views on the pricing. Most buyers, no matter the scenario or economic climate, have a tinge of buyer's remorse. Keep that in mind as well and let it not cloud your pursuit of happiness in your new home.

Sellers, typically the first offer that comes in during a stable market is usually the best offer; however right now, that wisdom may not hold consistently true. Know who is interested in buying your home, how financially secure are they, and thoroughly scrutinize the offer and get your questions answered. There's no time to waste with the iffy-wishy-washy set.

It is not likely that prices will trend much higher before 2010 at the earliest, but there should be more activity in the first or second quarter of 2009. What do you think?