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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...]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 covenants, conditions, or restrictions from the deed or other instrument before property is transferred. While it sounds good in principle, a $3 fee will be charged to process every single recorded real estate document to meet these standards and money to every real estate transaction. Opponents say that AB 985 will generate $60,000,000 in its first three years. Also, the elimination of racist restrictions from these documents will only have a symbolic effect only as they are already unenforceable and illegal. Are the benefits worth the costs?
Find out more about AB 985 and its current status
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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
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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, recessed book shelves, “waffle” display divider, floor to ceiling linen cabinets, two huge walk-in closets, “hidden” storage mirrored wall, hand-painted scenic mural opening to bonus room storage and three car garage with additional cabinets.
High end materials include imported Italian limestone flooring on the main level, warm wood mixed with upstairs, beveled marble fireplace facings, solid sheets of triple-thick tempered glass staircase dividers, chair lift to first level from garage with upgraded flooring.
Beautiful landscaping on patio and balcony, and enclosed atrium includes custom planter boxes, potted plants, and trees that compliment the view of lush common area landscaping as well as neighboring city scenery.
Custom construction is unique to this unit, with lath and plaster walls and enclosed atrium (complete with remote controlled shade) providing expanded indoor dining and entertaining.
Reconfiguration of the top floor offers additional windows, skylights and expanded office/library/den space.
Kitchen features include Pacific Cloth lined, silver pantry, center island, and breakfast area opening to formal dining area and extended enclosed atrium patio. Conveniently adjacent is a custom powder room with curved-molded vanity.
Light flooded, Master Bathroom flaunts two walk-in closets, separate shower, tub with jets, enclosed toilet with floor to ceiling linen closets. Second bathroom with roomy shower (with built in tiled seat) flows right into comfy second bedroom.
Century Hill…One of the best kept secrets on the Westside!!
Because Century Hill is a low rise complex, with gated entrance it doesn’t attract as much attention as the high rises or more colorfully painted complexes. However the amenities and grounds are superb.
In addition to the main swimming pool adjacent the gyms and the community room, there are four other swimming pools and four spa jet pools (one in each quadrant of the property).
Tennis Courts, Gyms (separate men’s, women’s & co-ed), Indoor driving range, raquet ball/Ping Pong Room.
Large Club House overlooking main pool and deck boasts a built in TV, & full kitchen/bar for parties and gatherings.
The lushly landscaped grounds boast a beautiful Rose Garden and numerous seating areas where residents and their guests can enjoy the ambiance and environment.
Parking capacity is unbeatable with three car, side-by-side parking for each homeowner and plenty of valet parking spaces for one visitor or a large party of guests.
Package delivery, routine maintenance, guest escorts to units, and additional assistance are available through and in-house phone system that make Century Hill living convenient for the most discerning buyer.
We extend an invitation to show you this truly unique unit and the grounds of Century Hill. Call for an appointment at a time that is convenient for you and your client.
2 bedrooms, 2.5 bathrooms, bonus room
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 in damages or order legal injunction. It is necessary that the victim of secondhand smoke attempts to reach a solution with the smoker and provides written notice before these matters are brought to court. Some tenants rights organizations feel that this bill goes too far into regulating residents lives, while some health organizations feel that these anti-smoking measures are too soft. This reaction is par for the course with the polarizing smoking issue.
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. The condo is centrally located near bus stops, and minutes from the Rancho Park Golf Course, recreation center, Westfield shopping malls (Westside & Century City), movie theaters, Westwood Village, UCLA, and a variety of neighborhood restaurants, shops and services. Huge living room with wet bar & fireplace opens up to huge seating area, separate dining area, and adjacent kitchen. Building offers controlled access, elevator, pool, and spa.
[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
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 of drain entrapments and eviscerations in pools and spas.
To this end, the Act requires that, among other things, by December 20, 2008:
1. Each public pool and spa must be equipped with anti-entrapment drain covers.
2. Each public pool and spa with a single main drain (other than an unblockable
drain) must also be equipped with a device or system designed to prevent
entrapment, such as a safety vacuum release system.
Finish this article by Michael W. Rabkin Esq.
[Read More...]Investment Opportunities in Corona del Mar
There are uniques opportunities in this upscale community where duplex/condo conversions provide investment opportunities for the small investor. Corona del Mar is a fashionable beachside Orange County community with dazzling residential properties as well impressive shopping and entertainment options. Explore Corona del Mar
Grant Funded Through ‘The Recovery Act’ to Increase Jobs and Provide Boost to Local Housing Economies
May 9, 2009-As part of an innovative partnership aimed at job creation and easing the pressures on the housing market, the Department of the Treasury and Department of Housing and Urban Development (HUD) jointly announced programs that will provide billions of dollars in recovery funds to spur the development of thousands of affordable housing units in states around the country. Funded through the American Recovery and Reinvestment Act (The Recovery Act), the programs together will provide approximately $5 billion for states to finance the acquisition and construction of affordable housing for working families. Read the rest of this article at RIS Media
Interest Rate Even Lower
The Federal Reserve has slashed interest on federal funds to 0.25%. In October rates fell to 1 percent, the lowest they had been since 1958. Since then there has been speculation that the central bank might reduce the rate even more if they fail to achieve the desired results but no one was sure how low they could go. This decrease is yet another attempt to jump-start the ailing economy and encourage credit and lending.
Hot Weather is Here and You can Help your Tenants Save Money and the Environment
1. To be eligible for the rebate: (a) I must be a Southern California Edison customer on a residential, GS-1 or GS-2 rate, and (b) the service(s) I have completed must (i) qualify for the rebate, (ii) be performed at a single-family residential dwelling, or (iii) at a business less than 200kW, fully constructed and occupied, within SCE’s service area. I understand I must complete and submit an Application for each service at each address where a qualifying service has been performed. For small business customers, the program is limited to the building owner or the entity responsible for purchasing and maintaining the air conditioning. Tenants who wish to participate must have the building owner’s permission.
2. The A/C Tune-Up Program term is April 1, 2008 through July 31, 2008, yet may end sooner if allocated funds are depleted. Any service(s) performed prior to April 1, 2008 or after July 31, 2008 will not qualify for a rebate. Limit two (2) rebates per residential service account.
3. Funds are limited. Applications are accepted on a first-come, first-served basis. The A/C Tune-Up Program may be modified or terminated without prior notice. In the event that rebate amounts change, the service date will be used to determine eligibility and the Application postmark date will be used to determine rebate amount, if any.
4. A signed and dated Application, and a copy of the contractor’s invoice, must be sent to Southern California Edison A/C-Tune-Up, PO Box 800, Rosemead, CA 91770 and postmarked no later than August 31, 2008 to be considered eligible for a rebate. After SCE receives a submitted Application, determines that it is complete and accurate and approves it for payment, a bill credit (Policy Adjustment) will appear on the customers’ SCE monthly bill statement within six to eight weeks at the address on record for the service account. SCE reserves the right to select any Application for verification, or reject any incomplete Application(s). If an Application is selected for verification, additional time may be required before the bill credit (Policy Adjustment) is applied.
5. I will allow, if requested, SCE’s and/or the California Public Utilities Commission’s (CPUC) representative(s) reasonable access to my home or business to verify completion of the qualifying service I have purchased, prior to payment of a rebate. I understand that a rebate will not be paid if I refuse to participate in any required verification. I understand that if I refuse to participate in or fail any required verification after receiving a rebate, I may be required to repay to SCE the amount of any rebate received. The verification of service must be scheduled within 30 days of customer contact by SCE. I understand that SCE may contact the qualifying service provider to verify service performed and may provide my name and/or address to complete this verification.
6. The qualifying service(s) must be performed by a company licensed and able to perform air conditioning maintenance services as evidenced by a valid California C-20 contractor’s license. License status can be confirmed at www.clsb.ca.gov. I understand that I cannot receive a rebate for the same product from more than one California investor-owned utility or third party energy efficiency program offering rebates, financing or other incentives funded with CPUC Public Goods Charge funds.
7. I agree that the selection of qualifying service(s), selection of licensed contractor(s) and purchase of the qualifying service(s) referenced in this Application are my sole responsibility, and the provider of these services is not an agent or representative of SCE.
8. I understand that SCE makes no representations regarding contractors, materials or workmanship. I ALSO UNDERSTAND THAT SCE MAKES NO WARRANTY WHETHER EXPRESS OR IMPLIED, INCLUDING WITHOUT LIMITATION THE IMPLIED WARRANTIES OF MERCHANTABILITY AND FITNESS FOR ANY PARTICULAR PURPOSE, USE, OR APPLICATION OF THE PRODUCTS.
9. I agree that SCE has no liability whatsoever concerning (1) the quality, safety and/or installation of the service(s), including their fitness for any purpose, (2) the estimated energy savings of the services, (3) the workmanship of any third parties, or (4) any other matter with respect to the 2008 A/C Tune-Up Program. I waive any and all claims against SCE, its parent companies, affiliates companies, directors, officers, employees, or agents, arising out of activities conducted by or on behalf of SCE in connection with my Application for any rebate(s) under the 2008 A/C Tune-Up Program. Without limiting the generality of the foregoing, none of such parties shall be liable hereunder for any type of damages, whether direct, or indirect, incidental, consequential, exemplary, reliance, punitive or special damages, including damages for loss of use, regardless of the form of action, whether in contract, indemnity, warranty, strict liability or tort, including negligence of any kind.
10. I am responsible for meeting all 2008 A/C Tune-Up Program requirements and complying with my state/county/city governments, property owner and/or homeowners association requirements (if any) in my area regarding local conditions, restrictions, codes, ordinances, rules, and regulations concerning this service(s).
11. SCE is not responsible for items lost or destroyed in the mail/transit.
12. You certify that the information you have provided is true and correct, and that the service(s) for which you are requesting a rebate meet(s) the requirements in this application.
This program is funded by California utility ratepayers and administered by SCE under the auspices of the California Public Utilities Commission. Funding for this program is limited and is available on a first-come, first-served basis until allocated funds are exhausted, or July 31, 2008, whichever comes first. This program may be modified or terminated without prior notice.