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Featured Articles
Los Angeles Tenants Rights
December 19th 2008 - Los Angles Mayor Antonio Villaraigosa signed into effect a new law protecting tenants in buildings that have gone into foreclosure. Tenants of buildings in foreclosure cannot be evicted until the properties have been purchased by new owners. This new law will protect many renters who have become innocent victims of [...]
[Read More...]One Person’s Trash is Another Person’s Treasure!
Discover how you can help recycle construction or deconstruction products.
GO GREEN
Everyone has ideas about greening residential real estate, but what about commercial investment property going green. Share your experiences or questions…comment here!
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Mandatory Access for Telecommunications Providers?
Mandatory Access to Commercial Property for Telecommunications Providers?
How do the contracts between commercial or multi-family property owners affect Tenants? The FCC is asking for your comments on an issue that could affect who has access to your property.
[Read More...]To Exchange or Not to Exchange…that is the Question!
Whether ‘tis better to sell and pay taxes or by deferring gain to leverage your portfolio?
Section 1031 of the Internal Revenue Code provides that neither gain nor loss is recognized if property held for investment use in trade or business is exchanged for like property. The term “like kind” refers to the grade or quality of the property, not a specific type or class. Thus, single family rentals can be exchanged for a retail strip center, commercial or industrial property.
[Read More...]Hot Topics
California Foreclosure Moratorium May Not Be Effective
Gov. Arnold Schwarzenegger signed into law a 90-day moratorium on California home foreclosures on Friday, but consumer advocates argue wide loopholes will prevent the legislation from significantly slowing repossessions.
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Tax Credit has been EXTENDED!!
On November 6th President Obama signed a law to extend the current tax credit of $8,000 offered to first-time home buyers. A tax credit of up to $6,500 is also being offered to repeat buyers who have owned
Just the Facts
This is a valuable site, If you want to know what bills are before the House of Representatives, who to contact to voice your opinion, or what decisions have been made on topics of interest to you.
AB 985 Could Affect the Cost of Transferring Property
AB 985 is currently making it’s way through the legislature. It is designed to fight discrimination in the real estate market but its effectiveness has been called into question and it’s costs are great. The Bill will require a title insurance company to strike any racist
What do think about AB 227?
AB 227 (Yamada) proposes to provide the means for the county recorder to archive historical documents (including real-estate documents). The funding would come from a fee (not to exceed $3 per document) imposed by the county board of supervisors. Proponents would say that this is a nominal fee, necessary to aid in a valuable service. Opponents allege that the fee is actually functioning
The American Recovery and Reinvestment Act of 2009 Passes
On February 13th The U.S. Senate passed the American Recovery and Reinvestment Act of 2009 by a 60 to 38 vote. The stimulus package passed the U.S. House of Representatives in a 246 to 183 vote. These votes followed several days of negotiations by the House,
Green Laws in California
Many states are putting into effect laws to preserve the environment. California is a front runner in implementing “green” builing laws. Check out the current green building ordinances for Culver City. Please contact us if you would like to know about the codes in your area.
Los Angeles Tenants Rights
December 19th 2008 - Los Angles Mayor Antonio Villaraigosa signed into effect a new law protecting tenants in buildings that have gone into foreclosure. Tenants of buildings in foreclosure cannot be evicted until the properties have been purchased by new owners. This new law will protect many renters who have become innocent victims of the foreclosure crisis. It has also been suggested that this will help the banks in possession of the such properties as vacant buildings are often the target of vandalism which can be expensive fix.
[Read More...]Which Properties Are Selling in This Market?
Current Trends and Recent Sales in Venice, California
Four-Point Housing Stimulus Plan
The National Association of Realtors is promoting an economic stimulus plan. According to NAR the provisions of this plan are essential to the recovery of the real estate market. However, some skeptics feel that these provisions serve only to protect real estate agents and will further inflate real estate prices.
Do You Support Subway to the Sea?
The proposed “Subway to the Sea” will extend the Red Line from the current terminus at Wilshire Blvd. and Western Ave., heading west along Wilshire Blvd to Beverly Hills, Century City, Westwood and UCLA and on to the Pacific Ocean in Santa Monica, the Wilshire corridor subway will form the essential high capacity trunk line our public transit system needs, interconnecting with a vastly improved transit bus system and an expanding network of light rail lines. Find out more from the Subway to the Sea Coalition.
Real Estate
Development Opportunity or SFR on Culver Blvd
New Listing in Culver City at $549,000. Great Starter House… Priced Right With Nice Backyard & Mature Trees. Across From Bike/Pedestrian Path. Close To Freeways, Shopping, Public Transportation. Or Hold & Develop This R4 Property Later (Buyer To Confirm Current Zoning W/City). Court Confirmation Not Required
Be the First to Know
When the Price Changes
Beautiful Condo for Sale - 2451 Century Hill. The perfect choice for “down-sizers” transitioning from a large house. You will be pleased to find this unit filled with many of the amenities and highlights usually found only in exclusive private homes. MUST SEE TO APPRECIATE!
Shelving and cabinets throughout, including built-in silver pantry,
[Read More...]Santa Monica Extends Smoking Ban into Residential Territory
February, 2009- Santa Monica is known for its already severe anti-smoking legislation. City Council has passed further measures to safeguard residents against secondhand smoke. The new law regulates smoking in common areas of multi-family residences including apartment buildings and condos. Victims of secondhand smoke can file a civil action which can award them up to $100
Beverly Glen Condo on the Market
The Listing Price for 2175 Beverly Glen #203 is now down to $529,000.
This extra large bright unit offers great flow for entertaining and you can’t beat the location. For more pictures of the unit visit 2175BeverlyGlen.com or call Phyllis Miller at 213.999.2425 for a private showing.
[Read More...]New Fannie Mae Guidelines Assist Investors
Effective March 1, 2009, Fannie Mae will start once again financing up to 10 properties for investors in order to help with lending recovery. See Fannie Mae for further details
New Federal Pool and Spa Safety Laws
In December, 2007, the Virginia Graeme Baker Pool and Spa Safety Act, 15 USC 8004) (the “Act”), was signed into law by President Bush. The main purpose of the Act is to increase the safety of pools and spas in the United States by requiring certain safety devices to prevent the tragic and hidden hazard
Understanding Proposition 110
Proposition 1101 is a constitutional initiative passed by California voters that provides property tax relief for severely and permanently disabled claimants when they sell an existing home and buy or build another. It allows the transfer of the base-year value of their existing home to a newly purchased or constructed home within select counties in the State of California. In addition, the initiative also provides relief for modifications that make a home more accessible for a severely disabled person.
Understanding Proposition 60
In most cases, these constitutional tax initiatives allow senior citizens to transfer the trended base value from their current home to a replacement property if certain requirements are met. This may result in substantial tax savings.
Who Qualifies?
If you or your spouse who resides with you is age 55 or older, you may buy or construct a new home of equal or lesser value than your existing home and transfer the trended base value to your new property.
[Read More...]Understanding Proposition 58
These constitutional initiatives provide property tax relief for real property transfers between parents and children and from grandparents to grandchildren. Collectively, they make it easier to keep property “in the family.”
In general, Proposition 58 states that real property transfers, from parent to child or child to parent, may be excluded from reassessment. Proposition 193 expands this tax relief to include transfers from grandparent(s) to grandchild(ren). In both cases, a claim must be filed within three years of the date of transfer to receive the full benefit of the exclusion.
[Read More...]Understanding Proposition 8
In 1978, California voters passed Proposition 8, a constitutional amendment that allows a temporary reduction in assessed value when a property suffers a “decline-in-value.” A decline-in-value occurs when the current market value of your property is less than the current assessed value as of January 1.