Silver Lake Area Real Estate News And Information: California: Silver Lake

Short Sales In Los Angeles, California - Am I qualified to short sale my Silver Lake home?

If you are not clear on exactly what a short sale is, please read my post about what buyers and Sellers should know about Los Angeles short sales.

You may own a house in Silver Lake and you now owe your lender more than the house is work, but that doesn't mean you automatically qualify for a short sale. Most people who bought property in Silver Lake and the surrounding areas during the height of the market are in that position.  We can't all just decide we don't want to keep making our payments and expect our lender to take a huge loss.

Lenders have certain standards to determine whether they will approve a short sale or not. The main issue is that you must have some sort of hardship, meaning, there must be a verifiable reason that you can no longer keep your home. If you can qualify for a mortgage modification that would be the thing to do rather than short sell.

If you cannot qualify for a mortgage modification, your lender will want to make sure you pass The Hardship Test.  Do any of these apply to you?

Since you bought the house:

•  Must you relocate to another city or state for work and you need to sell your house in order to move?

•  Has the interest rate on your home gone up so high that you could no longer qualify for the loan and you are no longer able to make ends meet?

• Have you lost your job?

• Has something happened to you that is keeping you from being able to work, like a major accident or illness?

• Have you incurred large medical bills that are making it impossible for you to pay your mortgage? 
  

• Have you lost your spouse due to death, divorce or separation?
  

Each lender will look at every situation individually but any of the above could be reason enough for them to cooperate with you in the short sale of your home.  However, there are things that are definitely NOT considered hardships which could prevent you from successfully short selling your home.

•  You took all of the equity out of your house to spend on something else

•  You bought your house when prices were high and now it's not worth as much and you are upside down in your mortgage

• You were not honest on your loan application when you bought the property. It was so easy to get a no-doc loan that many people lied about their income and assets and bought homes they could not truly afford. If this was you, your odds of a successful short are limited.

• You have money in the bank, stocks and bonds and/or equity in other properties. - You may still be able to get a short sale but chances are that the bank will expect you to shoulder some of the loss and bring money to the closing table.

If you are in a tight position and are not sure if you qualify for a short sale in Silver Lake or surrounding areas , please contact me directly at 213-215-4758 and I will go over the specifics of your situation with you and make recommendations on your best course of action.

For more information on shorts sales in Los Angeles County and buying or selling property in Los Feliz, Silver Lake, Echo Park,  and surrounding areas, contact me directly at 213-215-4758 or check out LApropertySolutions.com

Broker Associate
Keller Williams Realty, Los Feliz
213-215-4758
http://www.LApropertySolutions.com

Copyright © 2010 By Jenny Durling *All Rights Reserved * Short Sales In Los Angeles, California - Am I qualified to short sale my Silver Lake home?

Auburn 7 Small Lot Subdivision in Silver Lake

Have you heard of the Auburn 7 small lot subdivision in Silver Lake?  This complex of seven single family homes  designed by Silver Lake based MASS Architecture and Design is one of L.A.'s small lot subdivisions, located right here is Silver Lake. The seven homes are townhouse style, separated by just a small space and share walkways and a community garden on DWP land in front.

The Auburn 7 were built with ecology in mind. Green features include: radiant heating in the floor, tankless water heaters, low-flush toilets, and high-efficiency HVAC. The homes are also solar-ready for those owners choosing to install panels. Dual glazed windows and skylights add great ventilation and better efficiency.

If all of this appeals to you, you are in luck! One of the Auburn 7 in Silver Lake just came on the market. 2746 Auburn Street was recently listed Chris Furstenberg for $839,000.  The home has 3 bedrooms, 2.5 baths in 2100+ square feet of living space and is in the coveted Ivanhoe School district! With it's solar power, you can expect a nice drop in your electric bill if you choose to call this home.

 To see this home or for more information on small lot subidivions, Silver Lake, Los Feliz, Eagle Rock and surrounding areas, contact me directly at 213-215-4758 or check out LApropertySolutions.com

Broker Associate
Keller Williams Realty, Los Feliz
213-215-4758
http://www.LApropertySolutions.com

Copyright © 2010 By Jenny Durling *All Rights Reserved * Auburn 7 Small Lot Subdivision in Silver Lake 

Moreno Highlands- Silver Lake's Prime Neighborhood

Moreno Highlands is the residential section of Silver Lake on the west ridge of the hill overlooking the reservoir. The area was developed in the 1920's and 1930's, originally planned by silent film star Antonio Moreno and his oil heiress wife, Daisy Canfield to recreate the feel of a tile-roofed Mediterranean Village. The  Canfield-Moreno Mediterranean-style Villa set the tone for the neighborhood. Known as "The Paramour" this  22,000-square-foot, 22-room estate with pool and separate guest houses was built in 1923 and was the weekend party house for the high society and stars of the silent film industry. The estate is now a Los Angeles Historic Cultural Monument and used mainly as a filming location. 

The Moreno Highlands has curving terraced streets providing panoramic views of the reservoir, downtown and out to the ocean depending on what side of the street a home is located. Some of the homes at the highest points afford views in every direction.  The neighborhood was built with all utilities underground so there are no overhead wires to obstruct the fabulous views. There are no sidewalks on the streets but that doesn't prevent residents from walking through the neighborhood enjoying the vistas.

Though the original design of the area was to be Mediterranean, there is a huge variation in the architectural style of homes in the Moreno Highlands.  The hill is dotted with some of the finest examples of mid-century work by renowned architects including John Lautner, Gregory Ain and R. M. Schindler.

Residents of the community take pride in their homes and many have been maintained or restored to pristine condition. It is difficult to find a "fixer", though occasionally one will come on the market and be snapped up in a hurry. Homes in the Moreno Highlands come at a premium so if this is your preferred location in Silver Lake, be prepared to pay accordingly. 

There are currently only 2 homes for sale in The Moreno Highlands, one at 2423 Lanterman Terrace listed for $1,650,000 and the other at 2415 W Silver Lake Drrive listed for $1,099,000.  To see either of these properties or for more information on Silver Lake, Echo Park, Los Feliz,  and surrounding areas, contact me directly at 213-215-4758 or check out LApropertySolutions.com

Broker Associate
Keller Williams Realty, Los Feliz
213-215-4758
http://www.LApropertySolutions.com

Copyright © 2010 By Jenny Durling *All Rights Reserved * Moreno Highlands- Silver Lake's Prime Neighborhood 

Sunset Silver Lake loft for sale at a great price

If you've lived in or been through the Silver Lake area in the last few years you are probably familiar with the Sunset Silver Lake lofts that were built in 2007.  In the heart of Sunset Junction, these live/work lofts were a welcome addition to the area.  A total of 43 architectural units grouped into 4 buildings, the units include commercially inspired kitchens with stainless steel appliances, stone countertops, tiled baths with large soaking tubs and inside laundry hookups.  Underground parking and gated entrance provides security to the residents.

 Originally listed from $590,000 to $945,000 the Sunset Silver Lake Lofts are within walking distance to stores and restuarants in Sunset Junction like the Cheese store of Silver Lake . All units are pre-fitted for high-speed Internet access and cable television, recessed lighting, architectural hardware and central air conditioning. Only a handful of units have come back on the market since they were first sold.  Currently, there is a 2 bedroom/ 2 bathroom model available facing Myra that is listed for just $499,000. It is a short sale so the seller's loss can be your gain. For a patient buyer, a short sale property can certainly be worth waiting for.

To see this property or for more information on short sales,  Silver Lake, Echo Park, Los Feliz,  and surrounding areas, contact me directly at 213-215-4758 or check out LApropertySolutions.com

Broker Associate
Keller Williams Realty, Los Feliz
213-215-4758
http://www.LApropertySolutions.com

New listing in Silver Lake-  Moreno Highlands traditional is sure to please

If you've been looking for a home in the Moreno Highlands area of Silver Lake, your search may finally be over.  There have been very few homes coming on the market in this neighborhood lately and this one is truly a pleasure. This  three bedroom and two & a half bath traditional home has spacious living and dining room and spectacular views of the reservoir and hills beyond. You even get solar panels with this one, to help keep those electric bills at bay. All this and in the Ivanhoe Elementary School district as well! 2160 Moreno Dr., listsed at $1,199,000.

If this is a bit more than you can afford but the Ivanhoe Elementary School District is important to you, you might like to see 2644 Ivan hill Terrace. This hip 50's 3 bedroom will only set you back $757,000 - a relative bargain. 

To see either of these homes or for more information on  Silver Lake, Echo Park, Los Feliz,  and surrounding areas, contact me directly at 213-215-4758 or check out LApropertySolutions.com

Broker Associate
Keller Williams Realty, Los Feliz
213-215-4758
http://www.LApropertySolutions.com

Copyright © 2010 By Jenny Durling *All Rights Reserved * Silver Lake-  Moreno Highlands traditional is sure to please

Silver Lake California's Sunset Junction

Silver Lake Calfornia's Sunset Junction is the place to be.  When people talk about buying real estate in SilverlLake, it used to mean "prime Silver Lake"- the area nearest the reservoir and the hills known as the Moreno Highlands.  That area is still plenty popular but the price of homes there can be pretty high. Over the past few years, another part of Silverlake known as Sunset Junction has become the hot topic.

Sunset Junction is literally the place where Santa Monica Blvd. intersects with Sunset Blvd. The name is a carryover from the days of the old Los Angeles "red car line", Pacific Electric Railway Company's passenger service.  Rail service was discontinued in the mid 1950's but the Sunset Junction name stuck.  Silver Lake visitors and residents alike enjoy the variety of shops and eateries for several blocks of Sunset Blvd in this area. Demand for homes within walking distance of Sunset Junction has increased dramatically in recent years, prompting the development of the popular live/work Lofts at 4111 Sunset Blvd.

Less gritty than in past years, Sunset Junction boasts a large selection of cafes, shops and restaurants.  The building that once housed a carniceria  is now home to the Silverlake Conservatory of Music- a non-profit organization that offers reasonably priced music lessons and grants scholarships to children in need.  In the same building you'll find the hip coffee bar, Intelligentsia with its outdoor tables and umbrellas, The Cheese Store of Silver Lake, and Café Stella, a lively French Bistro. Right at the corner is a shoe store called Kicks.  This isn't your grandfather's Silver Lake!

Housing south of Sunset Blvd and within a short jaunt to Sunset Junction has become increasing popular, no doubt due to the plethora of things to do and see in the area. Recently a storybook cottage at 970 Maltman garnered a lot of attention and received multiple offers within days of going on the market and last week a 3 bedroom, 2 bath craftsman at 1401 Edgecliff Dr. also collected multiple offers in just 4 days.  It looks like Sunset Junction has finally come into its own.

For more information on  Sunset Junction, Silver Lake, Los Feliz, Echo Park and surrounding areas, contact me directly at 213-215-4758 or check out LApropertySolutions.com

Broker Associate
Keller Williams Realty, Los Feliz
213-215-4758
http://www.LApropertySolutions.com

Copyright © 2010 By Jenny Durling *All Rights Reserved * Sunset Junction - Silverlake Ca

New Silver lake Library Grand Opening on Monday, November 16

The wait is almost over! Yes, Silver Lake's new, LEED certified library is set to have its grand opening and ribbon cutting celebration on Monday, November 16 at 10:00am.  Special guests will include Los Angeles Mayor Anotnio Villaragosa, Los Angeles City Coucil President Eric Garcetti, Councilman Tom LaBonge and the Citiy Library Martin Gomez.

If you can't make it to the ceremony on Monday morning, you'll have another chance to cebrate on the weekend.  The Friends of the Silver Lake Library who have been instrumental in getting this library built, are hosting a Silve Lake Community Open House.  This Celebration will take place on Saturday, November 21st from 10 am to 5 pm. There will be music, food, and fun for everyone.

Parking is limited so this is a great opportunity to get a little fresh air and walk or bike to the event.  Maybe take a trip around the the reservoir first so you can burn off some of the to-be-eaten goodies at the event!

The new Silver Lake Library is located at 2411 Glendale Blvd at the corner of Glendale Blvd and Silver Lake Blvd.  See you there!

for more information on Silver Lake, Echo Park, Los Feliz, Eagle Rock and surrounding areas, contact me directly at 213-215-4758 or check out LApropertySolutions.com

Broker Associate
Keller Williams Realty, Los Feliz
213-215-4758
http://www.LApropertySolutions.com

3 Bedroom, 2 baths in Silver Lake's Ivanhoe School District less than $520K?

You'd love to buy a home in Silver Lake CA but what can you get in the $500,000. range that's more than 1,000 square feet, has 3 bedrooms and to top it off, is actually in Silver Lake's coveted Ivanhoe School District?  If you said "nothing", you're right that you're not going to find a house that fits that description but what about buying a Silver Lake condo?  If you've never considered it, this could be the perfect time. Condominium living offers all the benefits of home ownership, without the hassles of yard care or exterior maintenance.  You may think you want a big back yard and a grassy front lawn but do you really have the time or inclination to mow it, and how much would you actually use it?

With Single Family home prices in this neighborhood of Silver Lake still out of reach for many buyers, it might be time to check out some condos.  I've talked about condos for sale in Silver Lake CA in a previous post, but a small, 6-unit complex on Auburn suddenly has two units available.  I saw both of them on Sunday and if you like clean, contemporary lines these units are a real treat!

The condos are located at 2714 Auburn between Rowena Avenue and Waverly Dr..  This 6-unit complex was originally built as apartments in the early 90's and converted to condos just a few years ago.  The complex is in a great location. You're right across from Ivanhoe School and just a short walk to Edendale Grill, Blair's and The Coffee Table. Less than a mile and you're at Gelson's and Trader Joe's.  That's nothing to complain about!

Unit 4 is and upstairs light filled 3 bedroom, 2 bath of 1100sf with a balcony in the living room and one in the master bedroom. It's a front unit with stylish finishes including bamboo floors and stainless steel kitchen appliances. You also have inside laundry and central heat and air. What's not to like? This unit is currently listed for $539,000.
 

If you prefer to live downstairs and farther off the street, unit #3 is another option.  At 1140sf it is slightly larger than the upstairs unit and it's got a smaller price tag at   $519,000.  This unit shares the same bamboo floors, modern kitchen with Bosch appliances and butcher block countertops, inside laundry and central heat and air.  HOA fees are a mere $289 and you get two parking spots with either unit plus an onsite gym.  Honestly, they are both so nice I would have a hard time choosing between the two of them myself!

To see either or both of these units or for more information on Silver Lake, Los Feliz, Eagle Rock and surrounding areas, contact me directly at 213-215-4758 or check out LApropertySolutions.com

Broker Associate
Keller Williams Realty, Los Feliz
213-215-4758
http://www.LApropertySolutions.com

Silver Lake CA's Moreno Highlands Streamline Moderne hits the market in Ivanhoe School District

If you've been looking for a good sized home in Silver Lake California's Ivanhoe School District, your wait may be over. A 3 bedroom, 4 bath, home of 2600+ square feet just came on the market in Silver Lake CA.

Located at 2336 Moreno Drive, this 1940 Silver Lake CA home was designed and built by noted architect Harry Hayden Whiteley.  It's one of few examples of Streamline Moderne architecture on this side of the Silver Lake Reservoir. The design emphasizes long horizontal lines and curving forms noted in the entry way and balconies. There is also the somewhat nautical feel expected in this architectural style found in the porthole -like windows and original magnesite spiral staircase.

 Besides a superb location, this home offers a lush back yard, green houses, gleaming hardwood floors and a view of the Silver Lake Reservoir and the hills beyond. Better hurry, this Silver Lake CA home might go fast!

If you're interested in this home or would like more information on Silver Lake, Los Feliz, Echo Park and surrounding areas, contact me directly at 213-215-4758 or check out LApropertySolutions.com

Broker Associate
Keller Williams Realty, Los Feliz
213-215-4758
http://www.LApropertySolutions.com

The Cheese Store of Silver Lake - A great place to shop  for cheese, wine and other tasty treats in Sunset Junction in Silver Lake

Sure, you can get a variety of cheese, wine and gift basket fare at Trader Joes, in Silver Lake, but for a true gastronomical experience, you should really check out The Cheese Store of Silver Lake. Chris Pollan, the store's proprietor, decided that after 25 years managing music tours, it was time for a change. He spent three years working with a friend at The Cheese Shop of Beverly Hills and decided he'd found his life long passion. So with a sense of adventure, he opened The Cheese Store of Silver Lake in November of 2002. It's pretty obvious from the crowds the shop gathers that this well kept secret is not such a secret any more!

Most local folks are familiar with the great little grouping of shops at the Corner of Sunset Blvd and Sanborn Avenue in the Sunset Junction area of Silver Lake. Pollan was somewhat of a pioneer when he open The Cheese Store of Silver Lake in what had been a veterinarian's office tucked behind a carniceria facing Sunset Blvd. Honestly, when the Cheese Store opened in 2002 I knew change was coming to the area in a big way. The carniceria is no longer, and that building now houses  Silver Lake's hugely popular Intelligentsia Coffee Bar. Just to the right of the Cheese Store you'll find Café Stella with it's patio dining. Apparently Pollan's crystal ball was working perfect in 2002- talk about picking the right location at the right time! (Speaking of crystal balls, if witchcraft and fortune telling are your thing you should check out  Cauldron Kitty in Silver Lake).

The Cheese Store of Silver Lake is 1000 square feet of some of the most fabulous cheese, salamis, wines and accoutrements anyone could ask for, but cheese is definitely the staring attraction.

The Cheese Store of Silver Lake carries alot of domestic cheese in order to support American producers but you'll also find array of cheese from all over the world. The staff is knowledgeable and happy to let you sample before you buy. When I stopped in the store on Sunday I picked up 3 delicious and incredibly different cheese: Raw sheep Manchego from Spain, some incredibly soft and yummy raw Cow Gorgonzola Dolce from California and what turned out to be out favorite- Midnight Moon goat cheese from Holland California. Needless to say, we were delighted with our selections and at the rate we're going we'll be due for another visit  to Sunset Junction next weekend!

The atmosphere at the Cheese Store of Silver Lake is casual and friendly but business is definitely brisk these days. Our last visit was certainly different from the first time we'd been in there. The store was brimming with people eagerly sampling cheeses, asking questions, and checking out the selection of crackers, olives, oils, vinegars, pastas and locally made confections. I had a hard time staying away from the very tempting home made marshmallows near the cash register!

If you're having a house warming party or heading to an evening at the Hollywood Bowl, The Cheese Store of Silver Lake is a great place to get what you need. Besides their selection of fresh breads and Panini sandwiches, you can order picnic baskets and party platters of meats, cheese, fruits and antipasto and grab some crackers to go with it. Need a special gift? The Cheese Store of Sliver Lake can help you with that too. They sell gift certificates and can put together marvelous gift baskets to fit your taste and your budget! Check the chalk board for daily specials.

The Cheese Store of Silver Lake is located in Silver Lake's Sunset Junction at 3926 W. Sunset Blvd with parking behind the store on Sanborn Ave. Open daily, there's someone there to help you Monday - Saturday 10am - 6:30pm and Sundays from 11-5. I think I may just swing in there for lunch one day soon and grab another wedge of that fantastic Midnight Moon Goat Cheese!

For more information on Silver Lake, Los Feliz, Echo Park and surrounding areas, contact me directly at 213-215-4758 or check out LApropertySolutions.com

Broker Associate
Keller Williams Realty, Los Feliz
213-215-4758
http://www.LApropertySolutions.com