Archive for December, 2008

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FHA Secure SHUT DOWN AT YEAR-END

December 31, 2008
Daily Real Estate News | December 31, 2008 | moneyhouse

FHASecure Shut Down at Year-End
Despite pleas from consumer advocates and trade groups, HUD will end its FHASecure program on Dec. 31, explaining that continuing the program, which insured refinancings for delinquent borrowers, would hurt the FHA financially.

FHASecure is a refinancing option that gives home owners with non-FHA mortgages the ability to refinance into a FHA-insured mortgage. With FHASecure, the lender will not automatically disqualify home owners because they are delinquent on their loan, and the lender may offer a second mortgage to make up the difference between the value of their property and what you owe.

The cost of keeping the initiative in place “would have to be offset by either substantial across-the-board single-family program premium increases or the suspension of FHA’s single-family insurance programs altogether,” according to Federal Housing Commissioner Brian Montgomery.

In a joint letter to HUD, consumer advocacy groups, along with the Center for Responsible Lending, insisted that the FHASecure program is more helpful than the Hope for Homeowners program because the absence of legislation governing the effort enables it to “adequately adapt to market evolutions.”

The groups had hoped to win FHASecure an extension at least through 2009.

Source: American Banker (12/30/08) Marc Hochstein

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IRS TAX CREDIT FOR HOMEOWNERS

December 20, 2008

fedtax-tips11

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ARCHITECTURAL GEM ECHO PARK MORE INFO

December 20, 2008

JUST RECEIVED MORE INFO ON ARCHITECTURAL GEM IN ECHO PARK

Remodeled w/ style & elegance, this eco-friendly house has vaulted ceilings, walk-in closet, wood floors, new stainless appliances. Walking distnce to cafes, restaurants, hiking trails. Great outdr patio 4 dining/entertaining. Bonus room for laundry and/or office. 1 off-street parking space. New electrical, new copper plumbing, new sewerline.

806 sq ft.

see previous post for photos

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GREAT DEAL IN ECHO PARK-AN ARCHITECTURAL GEM

December 20, 2008

GREAT DEAL IN ECHO PARK – AN ARCHITECTURAL GEM

This property was withdrawn from the market a few weeks ago at $519,000. It will shortly be going back on the market at a SIGNIFICANTLY reduced price.I want to give you all a heads up before the rest of L.A. knows about it.At $519,000 it was overpriced. At the new price it will be a GREAT DEAL.

I don’t know exactly what that new price will be yet… it hasn’t fully been determined… but I do know it is a SIGNIFICANT reduction from what it was, and there will likely be multiple offers when it comes back on the market. So why don’t you (or someone you know or care about) make the offer NOW (!) and beat the rush. How much to offer ?? Well, offer what you think it’s worth.

I have seen this exquisitely renovated house and I say that as a designer & realtor. So if you don’t offer accordingly you will not get very far. It will be substantially less than the original list price. It’s a one bedroom + bonus room, 1 1/2 bathrooms, has hugely high ceilings and only the best materials and fixtures have been used and everything has been built to the highest standards in terms of aesthetics, workmanship and safety, including the landscaping. It is an upscale condo alternative. And, it is walking distance to Chango’s Coffee Shop, Sunset Blvd and to Elysian Park. entryscottlivingrmscottbathroomscottkitchen-diningscottlivingrm2scott1bedroomscott

PLEASE CONTACT ME AT 323.804.2008 ASAP


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Holidays on Hollywood Blvd. Los Feliz – santa claus, music, snacks, toy drive, raffles

December 17, 2008
hollywoodxmasblog

Holidays on Hollywood 6PM-10PM

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Green Home Survey

December 17, 2008
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Daily Real Estate News | December 16, 2008 |

Surveys Show More Gains for Green Building
In November, the results of more than 10 surveys and reports exploring an array of topics such as worker productivity in green buildings, cost premiums, and perceptions of the business case for going green were released.

Such new data has been in demand lately as building stakeholders attempt to gauge how the credit crunch and a full year of recession have affected green construction.

Almost universally, the research points to another good year in 2009.

The “Green Building Impact Report 2008” from Greener World Media, which quantifies the overall effects of Leadership in Energy and Environmental Design (LEED) certification on industry and the environment, determined that companies in LEED buildings have realized annual employee productivity gains exceeding $170 million as a result of improved indoor environmental quality–a figure that is projected to jump into the billions by 2015 as the number of employees in LEED buildings grows more than tenfold.

The report further predicts an overall “flattening” of the rate of LEED growth as it begins to saturate markets nationwide, but continued expansion in the amount of floor area that is certified.

Other research chronicles how the downturn in construction will affect green building development in the months to come. McGraw Hill’s “2009 Green Outlook” study, for instance, said green building seems to be insulated from the recession and is growing “in spite of the market downturn.”

Meanwhile, at a recent Ernst & Young roundtable of construction company executives, a whopping 99 percent of survey respondents said interest in green development would increase in 2009 or at least remain the same as it is this year.

Eighty percent of respondents in a recent poll by the Building Owners and Management Association (BOMA) International and the U.S. Green Building Council (USGBC) said that energy efficiency measures have defrayed costs, and 65 percent said their green investments have generated a positive return on investment.

Finally, nearly 70 percent of corporate real estate executives described sustainability as a “critical business issue” in a joint survey by CoreNet Global and Jones Lang LaSalle, which is up nearly 20 points from 2007.

Source: CoStar Group, Andrew C. Burr (12/05/08)

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Greetings of the Season

December 16, 2008

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