Silver Lake Are Homes and Information

What are the Alternatives to a Los Angeles Short Sale?

Thu, 17 May 2012 20:05:44 -0700

Ten years ago hardly anyone had heard of a short sale. Now, since the real estate bubble burst, “short sale” is almost a household word here in the Los Angeles area.

The current situation is the result of several converging factors.

First, when the bubble burst, homeowners who purchased when the market was rising or had reach its peak, lost value. That might not have mattered if two other factors hadn’t come into play at the same time:

Adjustable rate mortgages reset, making mortgage payments double or triple
The economy tanked and people lost jobs

If you find yourself unable to keep up with monthly payments on your house because of these factors, you do have some choices.

If you don’t mind moving, the short sale is a good choice, but what if you’d like to keep your house? Refinance: Some programs will allow you to refinance up to 125% of your home’s current value – and lower your payments via lower interest rates. The FHA Short Refinance program will reduce your first mortgage to 97.75% of current value. If you are fortunate enough to have a loan that belongs to Fannie Mae and meets the timing criteria, you may be able to refinance without having an appraisal at all!

Reinstatement: If you’re in pre-foreclosure and have come into some extra money, you can reinstate your loan by paying the defaulted balance plus interest and late fees.

Loan Modification: Depending upon who owns your loan, you could be eligible for HARP, HAMP, FHA-HAMP, or the USDA’s Special Loan Servicing. If you are having trouble making making payments but are employed and can still qualify for a loan, it’s possible that your current lender will work with you to lower your rate, lower the principle owed or even both. It can’t hurt for you to call the number on your mortgage statement and ask.

Forbearance: Again depending upon who owns your loan, if you are unemployed you may be eligible for 12 months of forbearance. During this time, you’ll be required to pay from zero up to 31% of your income toward the payments, but the bank will not add late fees or penalties and cannot start foreclosure. The unpaid amounts will be added to your loan balance for later payment.

Here in California, you may also be eligible for assistance from “Keep Your Home California.” For details, call 888.954.KEEP.

Bankruptcy: In some cases, judges allow homeowners to keep their homes – sometimes even reducing the principal balance on investment and vacation property. Do consult a qualified real estate attorney before considering this option. Alot will depend on the type of bankruptcy. Sometimes you can forestall a foreclosure but not be able to keep your home indefinitely. In such a situation, a short sale could be your best course of action.

More Help May be on the Way…

Expanded HAMP programs will be go into effect June 1, 2012. So even if your lender has deemed you ineligible for assistance in the past, it would be wise to check back after the new guidelines are in place.

To learn who owns your mortgage loan, visit Making Home Affordable.

If you own a home in Silver Lake, Los Feliz, Hollywood Hills, Eagle Rock, Pasadena, or surrounding areas and you’ve decided that a short sale is the best option, or if you just need to discuss your options with a real estate professional, get in touch.

I’ll be glad to go over the specifics of your situation with you and help you determine your best course of action.

You can call me directly at 213-215-4758 – but hurry. Don’t wait until the bank makes the decision for you.

Jenny Durling
Broker Associate
LA Property Solutions
213-215-4758

Underwater Homeowners’ Tax Safety Net to Vanish in 2013

Tue, 15 May 2012 08:22:08 -0700

When Congress passed the Mortgage Tax Debt Relief Act in January of 2008 they created a “tax safety net” for underwater homeowners who were either foreclosed upon or who sold their homes as short sales.

This act removed the tax consequences of having mortgage debt “forgiven” either through foreclosure or a short sale. Until then, any debt that a mortgage holder wrote off was subject to Federal Tax as “1099 Income.” The act provided a tremendous relief to home sellers in Los Angeles when their home values took such a dramatic tumble.

Without it, underwater homeowners in Silver Lake, Echo Park, Los Feliz, and surrounding areas would have been paying income tax on thousands of dollars of unpaid debt when they sold short or lost their homes to foreclosure.

When this bill was passed, members of Congress must have thought the mortgage crisis would be over by the end of 2012. But as we all know, it isn’t over. And now the Mortgage Tax Debt Relief Act is set to expire in less than 9 months.

What that means to you: If you are underwater and need to sell your Los Angeles area home, it would be wise to list now and get your transaction closed before the year ends. Even though the banks say they’re doing more to streamline short sales, they still take much longer to close than other real estate sales. If you wait and do nothing and your property is foreclosed upon, you WILL be responsible for the tax on the amount ’forgiven’ if the current laws remain as-is.

Could Congress extend the Mortgage Tax Debt Relief Act? Yes, but so far we’ve heard no news indicating that they will.

List now to avoid making an entry on this line

If you are in a tight position and aren’t sure if you should try to hang on to your home or list as a short sale, I’d be happy to help you explore your options. Just fill out the online contact form, or better still, give me call today at 213-215-4758.

Do start now – don’t risk the real possibility of owing Federal income tax on the thousands of dollars your Los Angeles home lost in value due to the mortgage crisis.

Jenny Durling
Broker Associate
L.A. Property Solutions
213-215-4758
info@LApropertySolutions.com
LApropertySolutions.com

Eat. Drink. Art. At the Los Angeles Municipal Art Gallery in Barnsdall Art Park!

Sat, 12 May 2012 08:06:33 -0700

Most Los Angeles locals are familiar with Barnsdall Art Park in Hollywood. The park is home to Frank Lloyd Wright’s Hollyhock house, weekly Farmer’s Markets and a variety of activities throughout the year. I was at Barnsdall Park myself last Saturday enjoying Taste of the Eastside, with great food and libations from a variety of local restaurants and vendors for the benefit of the Rose Scharlin School. If you missed the fun, watch for it in early May next year.

Also located on the park grounds is the Los Angeles Municipal Art Gallery. The art gallery’s mission is to “promote, interpret, and present the art of emerging, mid career and established artists from culturally diverse South California”. What that means? The 10,000 gallery is a great place to see a variety of art from area artists ranging from sculpture, photography, painting etc. as well as performance art and installation works.

Amazing as it may seem, admission to the gallery is actually free. The gallery is open Thursday–Sunday from noon to 5 pm and on first Fridays from noon to 9 pm. Of course, behind any such endeavor you’ll find a group of volunteers working to provide funding and keep the operation open.

The Los Angeles Municipal Art Gallery Associates

The Los Angeles Municipal Art Gallery Associates (LAMAGA) is a private non-profit corporation that was founded in 1951, with the goal of promoting the museum and serving as advocates. LAMAGA helps support the Los Angeles Municipal Art Gallery with grant writing, special exhibits, public relations, and of course, fundraising.

Saturday, May 12 at 7:00PM, LAGMA and the Barnsdall Art Park Foundation invite you to their biannual benefit in Barnsdall Art Park: Eat.Drink.Art. This event is a celebration of art where guests can dance, drink and mingle with artists, gallery supporters, curators, civic and cultural leaders and of course, friends! Admission is $25 and includes a 4 drink flight. There will be DJ’d music, food trucks, wine and beer tasting and performances, installations and demonstrations by multi-talented artists. Come out for a great evening and support the Los Angele Municipal Art Gallery at the same time. Tickets to Eat.Drink Art are available online. Please note that this is and adults-only affair, so no one under the age of 21 will be admitted. Tickets will also be available at the door.

Barnsdall Park - 4800 Hollywood Boulevard (323)-644-6269

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I hope to see you there!

Jenny Durling
Broker Associate
LA Property Solutions
213-215-4758

Atwater Avenue Elementary School Electric Blue Fundraiser Takes Place March 24, 2012

Sun, 18 Mar 2012 11:03:59 -0700

Atwater Avenue Elementary School was the first elementary school in Atwater Village, founded in September 1922. Today the school is one of 554 LAUSD elementary schools with a student body of around 320 Atwater Village children from kindergarten through sixth grade. Parental involvement is extremely important, as is making sure the school has sufficient funds.

Friends of Atwater Elementary is a non-profit group run by parents and neighbors in Atwater Village who are committed to helping the school, and its students through targeted fundraising.Coming up on Saturday, March 24, 2012, the Friends of Atwater Elementary present “Electric Blue”, a celebrity auction and charity fundraising event to raise funds for Atwater Avenue Elementary School’s new technology program. The school’s new computer lab gets kids up to speed with technology and is currently being used successfully with language arts and mathematics programs.

The schools big, upcoming fundraiser, Electric Blue takes place next Saturday from 5-10pm with host celebrity chef, Curtis Stone. There will be food, drink, entertainment, silent and live auctions and general fun for the whole family.

From 5-7, The Hollow Trees folk band will perform a kid’s concert with tap dancing, mandolins, dress-up, mythical creatures and more. There will also be face painting, storytelling, a crafts table and fun times and giveaways with Dave Hester of the reality TV show Storage Wars.

From 7-10 pm, Modal Tease plays blue grass and Cameron Daddo from Australia will also be performing.Food from ATX Kitchen will be available throughout the event. Both live and silent auctions take place during these hours. Auction items include Disneyland tickets, Nickelodeon Studio tours, , Kidspace tickets, jewelry, spas, beauty baskets, furniture, music lessons, and the list goes on! If you are unable to attend the event, you can still support the school by bidding on Silent Auction items at 32Auctions.com .

There is a small entry donation of $5 for kids and $15 for adults. Tickets are limited and available through 3/23 at the school office or buy Electric Blue tickets online. The festivities take place at Atwater Kitchen at Atwater crossing at 3245 Casitas Avenue in Atwater Village.

Atwater Crossing – 3245 Casitas Avenue

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For more information on things to do in Los Angeles and information on buying or selling property in , Atwater Village, Silver Lake, Los Feliz, and surrounding areas, contact me directly at 213-215-4758 or check out LApropertySolutions.com

Jenny Durling
Broker Associate
L.A. Property Solutions
213-215-4758
Jenny@LApropertySolutions.com
LApropertySolutions.com

The Tam O’Shanter- One of Los Angeles’ Oldest Restaurants

Sat, 10 Mar 2012 10:26:52 -0800

The Tam O’Shanter is Los Angeles’ oldest restaurant operated by the same family in the same location. ‘The Tam’ as it’s known by locals, is celebrating its 90^th birthday! Lawrence Frank and Walter Van De Kamp, founders of the Lawry’s Prime Rib chain, opened the Tam O’Shanter on a dusty dirt road between Hollywood and Glendale in 1922.

This historic restaurant and tavern in Atwater Village has become a bit of a Los Angeles Icon. Near the early movie studios of the area, the restaurant was frequented by many stars including Fatty Arbuckle, Mary Pickford and John Wayne. Walt Disney and his staff were such regulars there that the Tam was coined “The Disney Studio Commissary”! The Disney connection is obvious by a look around the restaurant interior where you’ll find sketches of Mickey Mouse and framed drawings autographed by Walt himself. The lobby is a bit of a Los Angeles history museum!

The Tam O’Shanter looks like a Scottish country inn. The inside is dark and inviting, warmed by a fireplace in the front lobby. Throughout the restaurant you’ll find framed pieces of tartan plaids labeled by clan and the wait staff dresses in Scottish-inspired attire.

As part of the Lawry’s chain of restaurants, The Tam is famous for its Prime Rib but you’ll still find hearty Scottish-inspired items on the menu like, braised beef short ribs and Toad in the Hole. Make sure to leave room for dessert – their chocolate soufflé with fresh whipped cream needs to be ordered with dinner so it’s ready when you are!

If you are a scotch drinker, you won’t be disappointed as their list of available scotches is impressive. Occasionally there will be scotch-tasting events in the restaurant’s bar. As much as I love to sit down to a prime rib dinner, I’m actually quite fond of the Tam’s Ale & Sandwich Bar where a chef whips up hand-carved prime rib, roasted turkey, corned beef, and brisket sandwiches with your choice of sides. I highly recommend the cole slaw with peanuts! Sandwiches are available starting at 4pm and I’ve been known to pick up a few sandwich plates for outings at the Hollywood Bowl. Enjoy live music in the Tam’s Ale & Sandwich Bar Friday & Saturday Night starting at 8:00 PM, or stop by for Trivia on Tuesday nights at 7pm.

Though the Tam O’Shanter is a Scottish-themed restaurant, you’d think it was Irish based on their annual St Patrick’s Day affairs! This year’s festivities take place on March 17 from 11am to midnight. There will be traditional Irish dishes, music, dancing, Guinness pints, Jameson shots and green beer abounding. The restaurant erects a party tent and provides live music all day with no cover charge. This year’s lineup includes: Slugger O’Toole, 29 Mules, Ploughboys and the ever popular Bagpipers.

For those visiting Los Angeles, it should be on the map as a place to see when you are in town. If you are planning on dinner, reservations are highly recommended.

The Tam o’Shanter is located at 2980 Los Feliz Blvd, Atwater Village.

Jenny Durling
Broker Associate
L.A. Property Solutions
213-215-4758
Jenny@LApropertySolutions.com
LApropertySolutions.com

Kitten Rescue in Atwater Village - Rescuing and Placing Kittens and Cats since 1997

Fri, 09 Mar 2012 19:32:56 -0800

Kitten Rescue was founded in the spring of 1997. This is a private, non-profit rescue group in Los Angeles run totally by volunteers. Kitten Rescue is devoted to finding loving new homes for unwanted and abandoned cats and kittens. They are also dedicated to providing information to the public on responsible pet ownership, how to care for their pets and the importance of spaying and neutering to manage overpopulation problems.

Since 2006, Kitten Rescue has operated the Casitas Hotel for Cats, a private, no-kill shelter and boarding facility in Atwater Village. Kitten Rescue purchased the facility in March 2006 and it houses approximately 150 cats at any given time. Many are adoptable and waiting for good homes. Others may have chronic illnesses, or are elderly and less likely to be adopted. All of the animals at the shelter are safe, loved and taken care of by both staff and volunteers. Though the shelter enables Kitten Rescue to help many cats in need, the organization relies heavily on their network of volunteer foster homes. I adopted one of my kitties who had been living in a foster home for more than a year! She was well cared for, spayed, had her shots and was even microchipped! Kitten Rescue volunteers place nearly 1,000 cats and kittens into new homes annually. More than 10,000 cats have been rescued and placed in loving homes since the inception of Kitten Rescue.

Are you a cat-lover like me? How about adopting a cat or two? Or if you have the time and space at home, you can volunteer to be a foster parent and bring some cats or kittens into your home temporarily while they wait for permanent homes . If that’s not an option, you can volunteer to help out at the shelter – there’s always something to do. Socializing kittens is NOT a bad way to spend some time. Good for the cat and relaxing for you too.

My sponsored cat, Kelly McGreen

I know it’s hard to come up with the time to actually raise the cats or work at the shelter - there are other ways to help too. You can “Sponsor” a shelter cat by donating funds for the animal’s care, monthly or annually. I’m sponsoring a tabby by the name of Kelly McGreen. I chose Kelly because she has the same chronic condition one of my own beloved cats suffered with. She may never be adopted but at least I know she will be cared for with my help.

You don’t have to sponsor or cat – you can simply go online and make a donation via Paypal in any amount you’d like. Donations to Kitten Rescue are tax-deductible and receipts are available upon request. Even simpler than that, you can donate to Kitten rescue just by registering your store loyalty cards and credit cards! Participating merchants contribute each time you make a purchase using your free grocery loyalty or debit/credit cards that are registered with eScrip. Just enter your card numbers and you can help the shelter without doing anything other than your regular shopping!

March 11- Kitten Rescue welcomes its volunteers, adopters and supporters to the Kitten Rescue Sanctuary for their “St. Catrick’s” open house. There will be food, fun, green beer and lots of cats! The festivities run from noon until 6pm. The Kitten Rescue Sanctuary is located in Atwater Village. They don’t publicize their address to prevent people from simply dumping cats on their doorstep but if you would like to attend this event, rsvp to openhouse@kittenrescue.org I attended the event last year and expect I’ll stop by again this time.

Check out the Kitten Rescue website for information on cat rescue, care, and adoption for animal lovers all over the world.

Jenny Durling
Broker Associate
L.A. Property Solutions
213-215-4758
info@LApropertySolutions.com
LApropertySolutions.com

A Great Deal On A House In Beachwood Canyon - or Not? You Decide!

Sun, 04 Mar 2012 18:11:13 -0800

6216 Primrose Ave
Hollywood Hills, CA

There is a new listing in Beachwood Canyon and on the surface, it’s a steal! In January of 2007, the house at 6216 Primrose Ave. sold for a cool $1,165,000. It was quite a lovely home in a nice location with 4 bedrooms and 2 baths. What you might expect for that price of a home in the Hollywood Hills. Apparently the most recent owners had their own idea of what the place should look like and attempted a completed overhaul. Most likely they ran out of money in the process as it is currently bank owned and back on the market. The original hardwood flooring has been replaced with dark, engineered wood floors throughout. The kitchen has taken on an odd shape and the downstairs is quite frankly a little creepy! There are open walls and unfinished rooms but the house has potential. I counted 2 bedrooms, 2 baths – a possible 3^rd bedroom downstairs and a half-completed powder room on the main floor. I don’t know what happened to the 4^th bedroom!

So how much should a house in Beachwood Canyon around 2000 sf go for? Read the rest of the story

Too many buyers fail to see the value in working with an agent

Sun, 07 Dec 2008 12:02:34 -0800

These days, with so much information available online, it's really important to show our value beyond unlocking doors. Being from the old school myself, I could not imagine making such a huge financial investment as buying a home without the help of a professional. I don't do my own taxes, or my own dental work for that matter! However, the vast amounts of information available online seem to be leading some consumers to believe that they really don't need us. I just closed an escrow with buyers who initially felt that way, but admitted to me during the process that they were seeing things from a new perspective. I asked if they would mind putting something in writing that might help me (and other Realtors) understand a bit better where they were coming from. Here it is:

How Jenny Durling Proved Me Wrong:

I do all my shopping online. When it came time to buy a house, naturally, I felt that online shopping was vastly superior to the outdated methods of old. Why would I need a person involved in this process, when all the information I need is in my living room?

My strategy proved correct, vast amounts of information came to me with ease, maps, prices, pictures, and stats.... I'm going to have a house locked up by the weekend - w/o some agent getting in my way!

2 months later:

Lost a house, and we were combing over and over again through the same old funky stale listings. We also learned the lesson the hard way on bad deals that the seller's agent telling you they will fight for you as a buyer, not really true... at all. This made me more defiant, that we could go-it alone. Meanwhile houses were coming on and selling before we knew about them.

After clicking on the same dank/ fixer for the 100th time, we knew it was time to change course. We just were not seeing the "good" listings, our offers were clumsy, and we were depending on people that did not have our interests at heart to move the process.

My parents had been urging me from the start to find an agent. They remained close friends with their agent until she passed away, being so happy with the life she helped them achieve - but that was the 70's, this is now.

Very hesitantly we took my parents' advice and called Jenny Durling, who was recommended very highly by a friend who recently bought a home.

I was of the mind to get into things slowly... but not Jenny. The next weekend she had 6 (new) places set up. Each was mapped out and neatly prepared with a wealth of information on each property. It did not seem to matter what time of day or night we hit her with questions, she was back too us almost before we hit send!

I was starting to fear I would have to admit I was wrong. The first time we went out, I was sure of it. Going through each house she had a skill for seeing pros and cons in the properties that we, as new home buyers, missed. She also could read the situation on the financial side and give us very reliable, realistic advice we could trust. She knew the market in a way we could not.

It was during our first offer that I really had to admit I needed a buyer's agent, and Jenny was one of the best! She came in after hours to put an offer together, and worked the deal with such skill and speed; I knew she was working for us. For that reason, even when the situation changed and my father in law was buying, and we from him, I insisted he work through her.

What I had failed to see is that buying a home is still a very human process. There are politics, and individual human forces driving each sale. Like any trade, you need to have experience to navigate properly. The tools on the Internet are great, and can help tremendously, but to execute a good deal, you need a buyers agent. Giving someone a hammer does not mean they can build a house... giving someone redfin does not mean they can buy a house.

Eric T
Proud Recipient of a "SOLD" Sign!!!!!

Jenny Durling
Broker Associate
L.A. Property Solutions
213-215-4758
info@LApropertySolutions.com
LApropertySolutions.com

Short sales and REO's- Don't assume the bank won't pay for anything

Tue, 16 Dec 2008 11:06:25 -0800

I have buyers interested in looking at a particular home that is listed as a short sale. In their price range, this is not at all unexpected. I have explained the process to them and they realize that banks are not into making repairs or losing any more money on a sale than necessary. At the same time, they are first time buyers with limit funds and they need a clear idea of the costs involved in any potential purchase.

The listing of the house in question has agent remarks indicating that the "bank will not pay for termite or city occupancy requirements" and that the "buyer is to waive these requirements." Why would a listing agent make such an assumption?

I am not new to short sales and REO's and have successfully closed a number of such transactions. What I don't understand is why so many listing agents make the blanket statement that "the bank won't pay for anything" and the property is being sold "strict as-is". In my experience, this has not necessarily been the case.

If you have a short sale listing, don't throw up road blocks and obstacles before you even get an offer. You want to get your client out from under the house and sell it as quickly and easily as possible. In this neighborhood, termite and city occupancy issues are almost always paid for by the seller. Of course it's possible that the bank will refuse to pay for them, but at least ASK! Before telling prospective buyers that the bank won't pay for this or that at least find out what costs are involved.

Have the property inspected for termites and city occupancy issues and find out what work needs to be done and what the associated costs will be. You can go even further and get repair estimates for any issues the seller is aware. Put EVERYTHING on the HUD-1 that you give the bank. If presented correctly, there is a good chance that the bank will cover many if not all of these items. Even if they won't, you've at least given your prospective buyers a clearer picture of the potential costs they may incur and run less risk of the deal falling apart later due to unforeseen issues.

Buyers- talk to me about the best way to structure your offer. Finding out what the listing agent's process is for handling short sales will go a long way to getting one accepted.

Jenny Durling
Broker Associate
L.A. Property Solutions
213-215-4758
info@LApropertySolutions.com
LApropertySolutions.com

Silver Lake Pedestrian Path invites a walk around the Reservoir

Sat, 27 Dec 2008 19:11:22 -0800

Residents of Silver Lake can now safely stroll around the Silver Lake Reservoir. After years of planning and construction, the last 2/3 of a mile of the Silver Lake walking path from Armstrong Avenue to the dog park officially opened on December 20. Joggers, fitness walkers, people with dogs and mommies with strollers have all enjoyed walking around the reservoir. Now they can do it without worrying about cars on Silver Lake Blvd. The new crushed granite path completes the 2 mile circuit and makes for a much more pleasant way to get some fresh air and exercise.

Fans of architecture can take a peek at the Nuetra Colony on their way around the reservoir. This collection of modernist architecture designed by Richard Neutra is located near the intersection of Earl Street and Silver Lake Blvd.

The VDL Research house at 2300 Silverlake Blvd was Neutra's own home and was built using experimental materials. The original structure built in 1932 was rebuilt after being destroyed by fire in 1963. The property was left to Cal Poly Pomona to be preserved for public study and may be toured most Saturdays from 11-3 with admission going towards maintenance and repairs of the house.

The reservoir land directly across from the house used to be part of the lake itself. The odd shape of that southwest section of the reservoir was hard to keep fresh and as it was a source of drinking water at the time, the powers that be decided to fill it in and landscape it creating what is know today as "the meadow".

So what would be even better for residents of Silver Lake than the cool mid-century houses and a brand new walking path? How about opening The Meadow to the public? You bet- but you'll have to wait until the Spring or Summer for that. After 60 + years of being off-limits, that should certainly be worth the wait!

For more information on what's happening in the area, visit my Silver Lake facebook page. For more information on buying or selling property in Silver Lake, Echo Park, Los Feliz, and surrounding areas, contact me directly at 213-215-4758 or check out LApropertySolutions.com

Jenny Durling
Broker Associate
L.A. Property Solutions
213-215-4758
info@LApropertySolutions.com
LApropertySolutions.com

A piece of Silver Lake architecture worth seeing

Wed, 20 May 2009 17:38:46 -0700

If you have not had a chance to see the house at 2331 Cove Ave. in Los Angeles, take the opportunity while you can.

Sometimes a house is simply worth seeing. I go on broker's caravan weekly to keep up with the new listings on the market. It's rare that I see one that makes me want to write a post about it but this one sure did!

The land was first home to a 1906 bungalow, and is now home to the fabulous residence currently for sale 2331 Cove Ave. in Silver Lake. This home was designed by Alber Cooling, and was redesigned and enlarged for Edward A. "Tink" Adams and his family. Adams founded the Los Angeles Art Center School in downtown Los Angeles in 1932, which is now the Pasadena -based Center College of Design, one of the Nation's major art colleges. Cooling was an instructor at the Art center during Adam's tenure there. This house was built in 1966 and incorporates both International style and elements of traditional Japanese architecture. In 1967 a cantilevered section was designed by James De Long, an architect who studied with Frank Lloyd Wright.

Situated on a hill overlooking the Silver Lake reservoir, the house is mostly hidden from the street at the top of the Cove Ave Stairs coming up from Silver Lake Blvd. I have to say I was completely enchanted by the beautiful Japanese garden setting and peaceful ambiance. The house has great flow and the paper and wood sliders between rooms adds to the light and feel of openness. Even on a day as warm as it was the day I visited, the breeze flowed through the house like natural air conditioning. It's an amazing property with wonderful views and plenty of outdoor living space. Now, if I could only afford the $1,750,000 price tag, it would take a lot to ever get me to leave the property!

This house and other area homes of interest are featured in a book called "Bohemian Modern" By Barbara Bestor, Kimberly Stevens, Geoff McFetridge. If you'd like more info about this property or other homes in Silver Lake, Echo Park, Los Feliz, and surrounding areas, contact me directly at 213-215-4758 or check out LApropertySolutions.com

Jenny Durling
Broker Associate
L.A. Property Solutions
213-215-4758
info@LApropertySolutions.com
LApropertySolutions.com

But Open houses DO sell houses!

Sun, 31 May 2009 16:39:13 -0700

But Open houses DO sell houses!

I love reading posts on Active Rain. J Phillip's post - The Great Open House Debate inspired me to write my own post about open houses from a completely different perspective.

There are differing opinions on the usefulness of open houses. Some agents say an open house does nothing for the seller but is simply a tool for the agent to pick up buyers. Granted, a buyer may not walk in the door and write and offer on that particular house, but it doesn't mean that someone who comes to the open house won't end up buying it.

Here's my point:

There are a lot of homes on the market. Many homes in Silver Lake, Echo Park, Los Feliz and the surrounding areas I work, do not have lockboxes. If you list such a home, there's a lot of work involved in setting up appointments and personally showing properties to buyers and their agents. (Fodder for a later post, no doubt)!

Enter the Sunday (or Saturday, or weekday evening for that matter) open house!

Voila!

• You don't need to make any appointments.

• If there are able and willing agents in your office who'd like to hold your listings open to pick up some buyer, you don't even need to host the open house yourself.

• A lot of buyers can all be "handled" in one fell swoop by having the house open to the public.

• For every agent and buyer that attends the open house, that's one less appointment you'll need to schedule.

How is that for saving yourself time and energy?

Personally, I work with a lot of buyers. It's terrific when I can tell my clients "the house will be open on Sunday from 2-5- let's go take a look at it then". There's less work for both agents. I don't need to call the listing agent for an appointment, the listing agent doesn't have to call the seller to check their schedule, and the seller doesn't have to constantly pick up and leave the house for buyer visits without a lot of notice. That's not just a win-win, that's a win-win-win!

Another huge plus for us as agents- We can only see so many houses on broker's caravan and some listings are not even open on broker's caravan. If you want to stay on top of your game and be an expert in your area, you must know the inventory. Visiting open houses on the weekend affords you this opportunity. I will see houses even if I don't currently "have a buyer" for that particular property.

I need to know what's on the market, see what the house is truly like (virtual tours and online photos can conveniently leave out the "down side" to any property), and be able to accurately compare one house to another to keep my knowledge base current.

Whether you represent buyers or sellers or both, you need to truly know your comparables in order to have a handle on pricing.

Hmm- how did this photo get left out?!

So agents- if you think open houses are a waste of time and not making you any money, think again. There are a lot of agents out there like me. I am going to your open houses, I am sending buyers to your open houses and eventually I am able to SELL these properties BECAUSE of your open houses. It may be three degrees of separation- but when escrow closes, can you honestly say that holding your listing open did not get the house sold for your client and put money in your pocket? Maybe it's time for a new perspective!

Jenny Durling
Broker Associate
L.A. Property Solutions
213-215-4758
info@LApropertySolutions.com
LApropertySolutions.com

Silver Lake Condos for less than $500K, $400K, would you believe $300K?

Sat, 25 Jul 2009 14:20:15 -0700

Silver Lake Condos for less than $500K, $400K, would you believe $300K?!

Units in some of these buildings were selling in excess of $600K just a year ago. If you have been thinking of buying a condo in Silver Lake near the Silver Lake Reservoir or near Sunset Junction or within walking distance to Silver Lake Farmer's Market and Trader Joe's, this could be a great time to buy!

How about a 2-bedroom unit in the contemporary style complex at the corner of Silver Lake Blvd and Glendale Blvd right across the street from Silver Lake's soon-to-be-open new library? This property is just a hop skip and a jump away from the Silver Lake Reservoir Walking Path. It's also close to shopping and restaurants and part of the Ivanhoe Elementary School District.

This complex of 26 live/work loft units was completed in 2005 and currently there is only one unit available. 2395 SILVER LAKE #7. This one is a short sale, but if it's the right unit for you it could certainly be worth waiting for!

If you'd prefer a smaller complex closer to Sunset Blvd., how about nearly 1200 sf in the 4-unit complex at 1425 Silver Lake Blvd.?

This split-level one bedroom can be converted back to its original 2-bedroom layout if that's more you speed. This complex has a large community green space out back for gardening, picnicking or simply hanging out until the Silver Lake Meadow finally opens to the public. Plus it's is just a few blocks from restaurants and shops on Sunset Blvd.

So you like the idea of living in a small 4-unit complex but 1425 Silver Lake is too small and you don't want to live on a busy street? Talk about more space! - How about a 3 bedroom, 3 bath at 3247 Descanso Dr.? Just shy of 2100 square feet, this unit even comes with and attached garage and HOA dues are a mere $300 per month. It's a perfect set up if you're thinking of bringing in a roommate or 2 to help pay the mortgage.

This complex is south of Sunset Blvd. but still just a short walk to Dusty's for breakfast or a bite of Mexican at El Siete Mares.

If you are a big fan of fresh fruits and veggies, how about a place just a short walk from the weekly Silver Lake Farmer's Market and Trader Joe's? There are currently 3 units available in the Cedar Lodge complex at 2018 Griffith Park Blvd., all of which have 2 bedrooms and 2 baths. Priced at $439,900, $429,000 and $399,000, the highest priced unit is a bank owed REO while the other two are both regular sales and easy to show. $399K for a unit in this complex is a great buy.

For reasonable HOA dues you get resort style living with subterranean parking, pool, spa and a private park with trails, picnic tables and BBQ pits!

So WHERE is that unit less than $300K I mentioned?

For a real bargain, check out the condos at 2344 and 2354 Fletcher. Across the street from the new Home restaurant on Riverside Dr. and within walking distance to the Silver Lake Reservoir and the new Silver Lake Library, choose from three currently available units.

There's a complete remodeled 4-bedroom for $499,450, an upgraded 3-bedrooms for $429,900 and the cheapest unit in Silver Lake- a bank owned REO 2 bedroom, 2 bath for just 299,990!

Whether you're looking for a house, condo or income property, Silver Lake is a great neighborhood. Search Homes for Sale in Silver Lake now!

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

Jenny Durling
Broker Associate
L.A. Property Solutions
213-215-4758
info@LApropertySolutions.com
LApropertySolutions.com

THE NEW SILVER LAKE LIBRARY TAKING SHAPE

Mon, 27 Jul 2009 01:59:23 -0700

New Silver Lake Library Taking Shape and constructions appears to be coming along nicely.

If you've been anywhere near the corner of Glendale and Silver Lake Blvd, no doubt you've seen the progress being made on the new library. A contemporary design of shiny silver and glass, the building designed by M2A Architects has a split level design and subterranean parking.

The designers envision the building as a "Gateway to the Community" and are incorporating the eco-friendly green components that will allow it to earn LEED certification. No doubt the library will be a great addition to the Silver Lake Neighborhood!

If you are up for a book sale, mark your calendar for Saturday, August 1. You can browse and buy books from 10 am - 2 pm catty-corner from the future library at the Citybank Community Center. 2450 Glendale Blvd. at Silver Lake Blvd.

For those library lovers who haven't checked out the Edendale Branch yet, it can certainly fill the void until the new Silver Lake library is completed.

This nice little library was opened in the fall of 2004 so it's pretty new itself. It is located at the corner of Alvarado and Sunset Blvd right at the dividing line of Silver Lake and Echo Park at 2011 Sunset Blvd. Parking is limited but I've never had a problem finding a spot, or getting lost in a good book once inside. There are always events taking place there with class for kids, adults and teens. Especially nice is the free Wifi- and you don't need to buy a $5 coffee to use it!

I think alof of Silver Lake residents are looking forward to opening day when they can stroll around the Silver Lake Reservoir, pick up a book or two and the new library and head on home listing to a pre-reserved book on tape!

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

Jenny Durling
Broker Associate
L.A. Property Solutions
213-215-4758
info@LApropertySolutions.com
LApropertySolutions.com

Baller Hardware, A True Silver Lake Gem

Tue, 28 Jul 2009 00:17:34 -0700

Baller Hardware, A True Silver Lake Gem!

If you live in Silver Lake, Franklin Hills or Los Feliz, you've probably at some point wandered into Baller True Value Hardware Store at the corner of Tracy and Hyperion. If you haven't been there yet- you really need to check it out.

I discovered Baller Hardware when I first moved to Silver Lake in 2001. My husband and I had purchased a fixer-upper just south of the Silver Lake Reservoir and had a lot of work on our hands. How fabulous to find this terrific little hardware store such a short drive from our new abode. Not a fan of big box retailers, I tend to avoid Home Depot and Lowes as much as possible. Baller Hardware is a small town store stocked with the normal stuff you'd expect to find in a hardware store but also a huge variety of the hard to find odds and ends. On top of that the staff is friendly and extremely knowledgeable. I've had questions answered about everything from how to rescreen a screen door to which garden spray works best for white flies.

From the trucks I've seen in the small parking lot out front, I think a lot of contractors and local handymen have long discovered this little gem of a shop. There's a sister store across the street on Tracy that sells all things art-supply so if you can't find what you want at one store you can invariably find it at the other. Plus it's nice to have the overflow parking though I don't recall needing it on more than a handful of occasions.

Whether you've just bought a foreclosure or live in a mansion in Moreno Highlands, you'll always need a tool, a nail, gardening supplies or a gadget of some kind. Before you jump in your store and make the trek to Hollywood, stop in at Baller Hardware. It's great to support a local business and it's a heck of a lot stressful to boot!

Silver Lake Are Homes and Information

What are the Alternatives to a Los Angeles Short Sale?

Ten years ago hardly anyone had heard of a short sale. Now, since the real estate bubble burst, “short sale” is almost a household word here in the Los Angeles area.

Underwater Homeowners’ Tax Safety Net to Vanish in 2013

Eat. Drink. Art. At the Los Angeles Municipal Art Gallery in Barnsdall Art Park!

The Los Angeles Municipal Art Gallery Associates

Barnsdall Park - 4800 Hollywood Boulevard (323)-644-6269

Atwater Avenue Elementary School Electric Blue Fundraiser Takes Place March 24, 2012

Atwater Crossing – 3245 Casitas Avenue

The Tam O’Shanter- One of Los Angeles’ Oldest Restaurants

The Tam o’Shanter is located at 2980 Los Feliz Blvd, Atwater Village.

Kitten Rescue in Atwater Village - Rescuing and Placing Kittens and Cats since 1997

A Great Deal On A House In Beachwood Canyon - or Not? You Decide!

6216 Primrose Ave Hollywood Hills, CA

Too many buyers fail to see the value in working with an agent

Short sales and REO's- Don't assume the bank won't pay for anything

Silver Lake Pedestrian Path invites a walk around the Reservoir

A piece of Silver Lake architecture worth seeing

But Open houses DO sell houses!

Silver Lake Condos for less than $500K, $400K, would you believe $300K?

THE NEW SILVER LAKE LIBRARY TAKING SHAPE

Baller Hardware, A True Silver Lake Gem

6216 Primrose Ave
Hollywood Hills, CA