tag:blogger.com,1999:blog-32335294656866765832024-03-13T05:57:01.517-07:00Los Angeles Real EstateLos Angeles Real Estatehttp://www.blogger.com/profile/01288756384363618511noreply@blogger.comBlogger18125tag:blogger.com,1999:blog-3233529465686676583.post-12079236756031915172015-08-13T22:02:00.001-07:002015-08-13T22:02:13.647-07:00Reverse Mortgages: How To Protect Yourself<span style="background-color: white; color: #141823; font-family: helvetica, arial, sans-serif; line-height: 18px;">The Consumer Financial Protection Bureau says reverse mortgage borrowers are frustrated with their loan terms, service runarounds and foreclosure problems.</span><span class="text_exposed_show" style="background-color: white; color: #141823; display: inline; font-family: helvetica, arial, sans-serif; line-height: 18px;"><br /><br />A reverse mortgage is a special type of home loan that allows older homeowners to access the equity they have built up in their homes and defer payment of the loan until they pass away, sell or move out.<br /><br />The loan proceeds are generally provided to the borrowers as lump-sum payments, monthly payments or as lines of credit.<br /><br />The Bureau studied 1,200 reverse mortgage complaints it got over the past three years and found:<br /><br />Distress about the inability to add new borrowers to an existing loan.<br /><br />Reverse mortgages prohibit spouses, heirs and dependents from taking over the loan. This is because loan amounts are, in part, calculated using a borrower’s age and the loan repayment is triggered when the last borrower moves out or dies.<br /><br />Frustration with runarounds when trying to pay off the debt.<br /><br />When the borrower dies, heirs can sell the home, repay the loan balance or pay 95 percent of the property’s assessed value.<br /><br />Consumers complained that the loan servicer didn’t provide a clear process to allow them to settle the debt, used inaccurate appraisals and didn’t respond to written requests for payoff information.<br /><br />If you need a quick property value estimate, call me and I’ll pull comparable sales for you to help you judge the validity of the reverse mortgage lender’s estimate.<br /><br />Struggles with foreclosure due to issues with property taxes and homeowners’ insurance.<br /><br />Reverse mortgages require no monthly mortgage payments but borrowers are still responsible for property taxes and homeowners insurance. Nearly 10 percent of reverse mortgage borrowers are at risk of foreclosure because they can’t pay these expenses.<br /><br />Consumers who complained to the Bureau described unsuccessful attempts to halt foreclosure proceedings by paying overdue taxes. Others insisted that their loan servicers had determined incorrectly that their taxes were overdue. Sometimes these inaccuracies were due to a failure by loan servicers to keep accurate records.<br /><br />If your or your loved ones are struggling to pay property taxes and insurance, contact me. I can help you sort through the options.<br /><br />Protect Your Loved Ones From Financial Hardship<br /><br />The Bureau suggests doing three things to help make sure your surviving heirs aren’t harmed by a reverse mortgage that you take out:<br /><br />1. Verify who is on the loan.<br /><br />If two borrowers take out the reverse mortgage, check with the reverse mortgage company to make sure its loan records show two borrowers on the loan.<br /><br />2. Plan ahead for the non-borrowing spouse.<br /><br />If you got a HECM reverse mortgage in the name of only one spouse before Aug. 4, 2014, contact your loan servicer now to find out if the non-borrowing spouse may qualify for a repayment deferral in the future. If not, decide how you’re going to manage if the borrowing spouse passes away first.<br /><br />If you have enough remaining equity, the surviving spouse could take out a new reverse mortgage, but they will incur new loan fees. Some surviving spouses may also be able to pay off the reverse mortgage, or take out a traditional mortgage, perhaps with another family member.<br /><br />Many will need to plan for where they will live after the home is sold to repay the loan, the Bureau warns.<br /><br />If you got your reverse mortgage after Aug. 4, 2014, chances are your non-borrowing spouse, subject to meeting certain conditions, will be able to remain in the home. Check with your lender to be sure.<br /><br />3. Plan ahead for other family members living in the home.<br /><br />Make sure your children or other family members living in the home know what will happen when the reverse mortgage is due. If those members want to keep the home, you can contact your reverse mortgage company and ask them to send information explaining the options family members will have.</span>Los Angeles Real Estatehttp://www.blogger.com/profile/01288756384363618511noreply@blogger.com0tag:blogger.com,1999:blog-3233529465686676583.post-23232294951593190382015-03-24T19:09:00.001-07:002015-03-24T19:09:11.519-07:00Rent vs Own Calculator<div style="background-color: white; box-sizing: border-box; color: #333333; font-family: 'Open Sans', arial, sans-serif; font-size: 14px; line-height: 20px; margin-bottom: 10px;">
<em style="box-sizing: border-box;"><strong style="box-sizing: border-box;">Rent vs Buy Calculator</strong></em> gives Home Buyers an economic breakdown of buying a home in the current Los Angeles and Orange County Real Estate Market.</div>
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<tr style="box-sizing: border-box;"><td class="fieldLabelCell" style="box-sizing: border-box;" title="Monthly rent" valign="top"><span class="fc_label_font" style="box-sizing: border-box;">Monthly rent</span></td></tr>
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</th><td align="right" class="preFieldDisplay" style="box-sizing: border-box;" width="12"><span class="fc_paragraph_font" style="box-sizing: border-box;">$</span></td><td align="right" class="lf_textFieldCell" style="box-sizing: border-box;" width="72"><span class="fc_paragraph_font" style="box-sizing: border-box;"><input class="textField" id="lf_MonRent" name="MonRent" style="background-image: none; border-radius: 0px !important; border: 1px solid rgb(204, 204, 204); font-family: inherit; font-size: inherit; line-height: inherit; margin: 0px; padding: 5px !important; width: 75px;" title=" $700" type="text" value="700" /></span></td><td align="left" class="postFieldDisplay" style="box-sizing: border-box;" width="12"><span class="fc_paragraph_font" style="box-sizing: border-box;"><img alt="" height="1" src="http://partners.leadfusion.com/tools/admincenter/images/spacer.gif" style="border: 0px; box-sizing: border-box; max-width: 100%; vertical-align: middle;" width="12" /></span></td></tr>
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<tr style="box-sizing: border-box;"><td class="fieldLabelCell" style="box-sizing: border-box;" title="Monthly renter's insurance" valign="top"><span class="fc_label_font" style="box-sizing: border-box;">Monthly renter’s insurance</span></td></tr>
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</th><td align="right" class="preFieldDisplay" style="box-sizing: border-box;" width="12"><span class="fc_paragraph_font" style="box-sizing: border-box;">$</span></td><td align="right" class="lf_textFieldCell" style="box-sizing: border-box;" width="72"><span class="fc_paragraph_font" style="box-sizing: border-box;"><input class="textField" id="lf_MonRentIns" name="MonRentIns" style="background-image: none; border-radius: 0px !important; border: 1px solid rgb(204, 204, 204); font-family: inherit; font-size: inherit; line-height: inherit; margin: 0px; padding: 5px !important; width: 75px;" title=" $0" type="text" value="0" /></span></td><td align="left" class="postFieldDisplay" style="box-sizing: border-box;" width="12"><span class="fc_paragraph_font" style="box-sizing: border-box;"><img alt="" height="1" src="http://partners.leadfusion.com/tools/admincenter/images/spacer.gif" style="border: 0px; box-sizing: border-box; max-width: 100%; vertical-align: middle;" width="12" /></span></td></tr>
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<tr style="box-sizing: border-box;"><td class="fieldLabelCell" style="box-sizing: border-box;" title="Yearly rent increase (decrease)" valign="top"><span class="fc_label_font" style="box-sizing: border-box;">Yearly rent increase</span></td></tr>
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</th><td align="right" class="preFieldDisplay" style="box-sizing: border-box;" width="12"><span class="fc_paragraph_font" style="box-sizing: border-box;"></span></td><td align="right" class="lf_textFieldCell" style="box-sizing: border-box;" width="72"><span class="fc_paragraph_font" style="box-sizing: border-box;"><input class="textField" id="lf_YrRentIncr" name="YrRentIncr" style="background-image: none; border-radius: 0px !important; border: 1px solid rgb(204, 204, 204); font-family: inherit; font-size: inherit; line-height: inherit; margin: 0px; padding: 5px !important; width: 75px;" title=" 0.00%" type="text" value="0.00" /></span></td><td align="left" class="postFieldDisplay" style="box-sizing: border-box;" width="12"><span class="fc_paragraph_font" style="box-sizing: border-box;">%</span></td></tr>
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<tr style="box-sizing: border-box;"><td class="fieldLabelCell" style="box-sizing: border-box;" title="Purchase price" valign="top"><span class="fc_label_font" style="box-sizing: border-box;">Purchase price</span></td></tr>
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</th><td align="right" class="preFieldDisplay" style="box-sizing: border-box;" width="12"><span class="fc_paragraph_font" style="box-sizing: border-box;">$</span></td><td align="right" class="lf_textFieldCell" style="box-sizing: border-box;" width="72"><span class="fc_paragraph_font" style="box-sizing: border-box;"><input class="textField" id="lf_AppVal" name="AppVal" style="background-image: none; border-radius: 0px !important; border: 1px solid rgb(204, 204, 204); font-family: inherit; font-size: inherit; line-height: inherit; margin: 0px; padding: 5px !important; width: 75px;" title=" $125,000" type="text" value="125,000" /></span></td><td align="left" class="postFieldDisplay" style="box-sizing: border-box;" width="12"><span class="fc_paragraph_font" style="box-sizing: border-box;"><img alt="" height="1" src="http://partners.leadfusion.com/tools/admincenter/images/spacer.gif" style="border: 0px; box-sizing: border-box; max-width: 100%; vertical-align: middle;" width="12" /></span></td></tr>
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<tr style="box-sizing: border-box;"><td class="fieldLabelCell" style="box-sizing: border-box;" title="Appreciation (Depreciation) rate" valign="top"><span class="fc_label_font" style="box-sizing: border-box;"><a class="glossaryLink fieldLink" href="http://partners.leadfusion.com/tools/rdesk/gloss.fcs?param=pGB*sHdbpn0NonRAs2lzqmVEqmN_s2VEpip5sGNcomJ3fml_nFljZ2VEtXZ5ozUNcjQBcTUIZ2VEtXZ5ozYNh0pWh0pW" id="glossaryanchor_appreciationrate" style="box-sizing: border-box; color: #428bca; text-decoration: none;" tabindex="0" target="_blank" title="View Glossary Term: 'Appreciation (Depreciation) rate' in a new browser window.">Appreciation (Depreciation) rate</a></span></td></tr>
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</th><td align="right" class="preFieldDisplay" style="box-sizing: border-box;" width="12"><span class="fc_paragraph_font" style="box-sizing: border-box;"><img alt="" height="1" src="http://partners.leadfusion.com/tools/admincenter/images/spacer.gif" style="border: 0px; box-sizing: border-box; max-width: 100%; vertical-align: middle;" width="12" /></span></td><td align="right" class="lf_textFieldCell" style="box-sizing: border-box;" width="72"><span class="fc_paragraph_font" style="box-sizing: border-box;"><input class="textField" id="lf_ApprecRate" name="ApprecRate" style="background-image: none; border-radius: 0px !important; border: 1px solid rgb(204, 204, 204); font-family: inherit; font-size: inherit; line-height: inherit; margin: 0px; padding: 5px !important; width: 75px;" title=" 3.00%" type="text" value="3.00" /></span></td><td align="left" class="postFieldDisplay" style="box-sizing: border-box;" width="12"><span class="fc_paragraph_font" style="box-sizing: border-box;">%</span></td></tr>
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<tr class="fieldRowTableRow" style="box-sizing: border-box;"><th align="left" class="fieldRowLabel" scope="row" style="box-sizing: border-box;" width="297"><table border="0" cellpadding="0" cellspacing="0" class="glossaryLayoutTable" style="background-color: transparent; border-collapse: collapse; border-spacing: 0px; box-sizing: border-box; max-width: 100%;" summary=""><tbody style="box-sizing: border-box;">
<tr style="box-sizing: border-box;"><td class="fieldLabelCell" style="box-sizing: border-box;" title="Your savings rate" valign="top"><span class="fc_label_font" style="box-sizing: border-box;"><a class="glossaryLink fieldLink" href="http://partners.leadfusion.com/tools/rdesk/gloss.fcs?param=pGB*sHdbpn0NsGVGqmJ3sG1_tWlCpndEs2VEpip5sGNcomJ3fml_nFljZ2VEtXZ5ozUNcjQBcTUIZ2VEtXZ5ozYNh0pWh0pW" id="glossaryanchor_savingsinterestrate" style="box-sizing: border-box; color: #428bca; text-decoration: none;" tabindex="0" target="_blank" title="View Glossary Term: 'Your savings rate' in a new browser window.">Your savings rate</a></span></td></tr>
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</th><td align="right" class="preFieldDisplay" style="box-sizing: border-box;" width="12"><span class="fc_paragraph_font" style="box-sizing: border-box;"><img alt="" height="1" src="http://partners.leadfusion.com/tools/admincenter/images/spacer.gif" style="border: 0px; box-sizing: border-box; max-width: 100%; vertical-align: middle;" width="12" /></span></td><td align="right" class="lf_textFieldCell" style="box-sizing: border-box;" width="72"><span class="fc_paragraph_font" style="box-sizing: border-box;"><input class="textField" id="lf_SavRate" name="SavRate" style="background-image: none; border-radius: 0px !important; border: 1px solid rgb(204, 204, 204); font-family: inherit; font-size: inherit; line-height: inherit; margin: 0px; padding: 5px !important; width: 75px;" title=" 1.00%" type="text" value="1.00" /></span></td><td align="left" class="postFieldDisplay" style="box-sizing: border-box;" width="12"><span class="fc_paragraph_font" style="box-sizing: border-box;">%</span></td></tr>
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<tr class="fieldRowTableRow" style="box-sizing: border-box;"><th align="left" class="fieldRowLabel" scope="row" style="box-sizing: border-box;" width="297"><table border="0" cellpadding="0" cellspacing="0" class="glossaryLayoutTable" style="background-color: transparent; border-collapse: collapse; border-spacing: 0px; box-sizing: border-box; max-width: 100%;" summary=""><tbody style="box-sizing: border-box;">
<tr style="box-sizing: border-box;"><td class="fieldLabelCell" style="box-sizing: border-box;" title="Your state + federal tax rate" valign="top"><span class="fc_label_font" style="box-sizing: border-box;"><a class="glossaryLink fieldLink" href="http://partners.leadfusion.com/tools/rdesk/gloss.fcs?param=pGB*sHdbpn0NtWVIs2VEpnc2qnd*jWV_pDF1r1NlkCpxtXhCqmYBfjUAcjQBeSpxtXhCqmYCfkpWh0pWhw@@" id="glossaryanchor_taxrates" style="box-sizing: border-box; color: #428bca; text-decoration: none;" tabindex="0" target="_blank" title="View Glossary Term: 'Your state + federal tax rate' in a new browser window.">Your state + federal tax rate</a></span></td></tr>
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</th><td align="right" class="preFieldDisplay" style="box-sizing: border-box;" width="12"><span class="fc_paragraph_font" style="box-sizing: border-box;"><img alt="" height="1" src="http://partners.leadfusion.com/tools/admincenter/images/spacer.gif" style="border: 0px; box-sizing: border-box; max-width: 100%; vertical-align: middle;" width="12" /></span></td><td align="right" class="lf_textFieldCell" style="box-sizing: border-box;" width="72"><span class="fc_paragraph_font" style="box-sizing: border-box;"><input class="textField" id="lf_TaxRate" name="TaxRate" style="background-image: none; border-radius: 0px !important; border: 1px solid rgb(204, 204, 204); font-family: inherit; font-size: inherit; line-height: inherit; margin: 0px; padding: 5px !important; width: 75px;" title=" 15.00%" type="text" value="15.00" /></span></td><td align="left" class="postFieldDisplay" style="box-sizing: border-box;" width="12"><span class="fc_paragraph_font" style="box-sizing: border-box;">%</span></td></tr>
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<tr class="fieldRowTableRow" style="box-sizing: border-box;"><th align="left" class="fieldRowLabel" scope="row" style="box-sizing: border-box;" width="297"><table border="0" cellpadding="0" cellspacing="0" class="glossaryLayoutTable" style="background-color: transparent; border-collapse: collapse; border-spacing: 0px; box-sizing: border-box; max-width: 100%;" summary=""><tbody style="box-sizing: border-box;">
<tr style="box-sizing: border-box;"><td class="fieldLabelCell" style="box-sizing: border-box;" title="Years before sell/pay off loan" valign="top"><span class="fc_label_font" style="box-sizing: border-box;">Years before sell/pay off loan</span></td></tr>
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</th><td align="right" class="preFieldDisplay" style="box-sizing: border-box;" width="12"><span class="fc_paragraph_font" style="box-sizing: border-box;"><img alt="" height="1" src="http://partners.leadfusion.com/tools/admincenter/images/spacer.gif" style="border: 0px; box-sizing: border-box; max-width: 100%; vertical-align: middle;" width="12" /></span></td><td align="right" class="lf_textFieldCell" style="box-sizing: border-box;" width="72"><span class="fc_paragraph_font" style="box-sizing: border-box;"><input class="textField" id="lf_YrsBefore" name="YrsBefore" style="background-image: none; border-radius: 0px !important; border: 1px solid rgb(204, 204, 204); font-family: inherit; font-size: inherit; line-height: inherit; margin: 0px; padding: 5px !important; width: 75px;" title=" 7" type="text" value="7" /></span></td><td align="left" class="postFieldDisplay" style="box-sizing: border-box;" width="12"><span class="fc_paragraph_font" style="box-sizing: border-box;"><img alt="" height="1" src="http://partners.leadfusion.com/tools/admincenter/images/spacer.gif" style="border: 0px; box-sizing: border-box; max-width: 100%; vertical-align: middle;" width="12" /></span></td></tr>
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<tr class="fieldRowTableRow" style="box-sizing: border-box;"><th align="left" class="fieldRowLabel" scope="row" style="box-sizing: border-box;" width="297"><table border="0" cellpadding="0" cellspacing="0" class="glossaryLayoutTable" style="background-color: transparent; border-collapse: collapse; border-spacing: 0px; box-sizing: border-box; max-width: 100%;" summary=""><tbody style="box-sizing: border-box;">
<tr style="box-sizing: border-box;"><td class="fieldLabelCell" style="box-sizing: border-box;" title="Loan amount" valign="top"><span class="fc_label_font" style="box-sizing: border-box;">Loan amount</span></td></tr>
</tbody></table>
</th><td align="right" class="preFieldDisplay" style="box-sizing: border-box;" width="12"><span class="fc_paragraph_font" style="box-sizing: border-box;">$</span></td><td align="right" class="lf_textFieldCell" style="box-sizing: border-box;" width="72"><span class="fc_paragraph_font" style="box-sizing: border-box;"><input class="textField" id="lf_LoanAmt" name="LoanAmt" style="background-image: none; border-radius: 0px !important; border: 1px solid rgb(204, 204, 204); font-family: inherit; font-size: inherit; line-height: inherit; margin: 0px; padding: 5px !important; width: 75px;" title=" $115,000" type="text" value="115,000" /></span></td><td align="left" class="postFieldDisplay" style="box-sizing: border-box;" width="12"><span class="fc_paragraph_font" style="box-sizing: border-box;"><img alt="" height="1" src="http://partners.leadfusion.com/tools/admincenter/images/spacer.gif" style="border: 0px; box-sizing: border-box; max-width: 100%; vertical-align: middle;" width="12" /></span></td></tr>
</tbody></table>
<table border="0" cellpadding="0" cellspacing="0" class="fieldRowTable" style="background-color: transparent; border-collapse: collapse; border-spacing: 0px; box-sizing: border-box; max-width: 100%; width: 398px;" summary=""><tbody style="box-sizing: border-box;">
<tr class="fieldRowTableRow" style="box-sizing: border-box;"><th align="left" class="fieldRowLabel" scope="row" style="box-sizing: border-box;" width="297"><table border="0" cellpadding="0" cellspacing="0" class="glossaryLayoutTable" style="background-color: transparent; border-collapse: collapse; border-spacing: 0px; box-sizing: border-box; max-width: 100%;" summary=""><tbody style="box-sizing: border-box;">
<tr style="box-sizing: border-box;"><td class="fieldLabelCell" style="box-sizing: border-box;" title="Term (years)" valign="top"><span class="fc_label_font" style="box-sizing: border-box;"><a class="glossaryLink fieldLink" href="http://partners.leadfusion.com/tools/rdesk/gloss.fcs?param=pGB*sHdbpn0NtWlCrip5sGNcomJ3fml_nFljZ2VEtXZ5ozUNcjQBcTUIZ2VEtXZ5ozYNh0pWh0pW" id="glossaryanchor_term" style="box-sizing: border-box; color: #428bca; text-decoration: none;" tabindex="0" target="_blank" title="View Glossary Term: 'Term (years)' in a new browser window.">Term (years)</a></span></td></tr>
</tbody></table>
</th><td align="right" class="preFieldDisplay" style="box-sizing: border-box;" width="12"><span class="fc_paragraph_font" style="box-sizing: border-box;"><img alt="" height="1" src="http://partners.leadfusion.com/tools/admincenter/images/spacer.gif" style="border: 0px; box-sizing: border-box; max-width: 100%; vertical-align: middle;" width="12" /></span></td><td align="right" class="lf_textFieldCell" style="box-sizing: border-box;" width="72"><span class="fc_paragraph_font" style="box-sizing: border-box;"><input class="textField" id="lf_TermYrs" name="TermYrs" style="background-image: none; border-radius: 0px !important; border: 1px solid rgb(204, 204, 204); font-family: inherit; font-size: inherit; line-height: inherit; margin: 0px; padding: 5px !important; width: 75px;" title=" 30" type="text" value="30" /></span></td><td align="left" class="postFieldDisplay" style="box-sizing: border-box;" width="12"><span class="fc_paragraph_font" style="box-sizing: border-box;"><img alt="" height="1" src="http://partners.leadfusion.com/tools/admincenter/images/spacer.gif" style="border: 0px; box-sizing: border-box; max-width: 100%; vertical-align: middle;" width="12" /></span></td></tr>
</tbody></table>
<table border="0" cellpadding="0" cellspacing="0" class="fieldRowTable" style="background-color: transparent; border-collapse: collapse; border-spacing: 0px; box-sizing: border-box; max-width: 100%; width: 398px;" summary=""><tbody style="box-sizing: border-box;">
<tr class="fieldRowTableRow" style="box-sizing: border-box;"><th align="left" class="fieldRowLabel" scope="row" style="box-sizing: border-box;" width="297"><table border="0" cellpadding="0" cellspacing="0" class="glossaryLayoutTable" style="background-color: transparent; border-collapse: collapse; border-spacing: 0px; box-sizing: border-box; max-width: 100%;" summary=""><tbody style="box-sizing: border-box;">
<tr style="box-sizing: border-box;"><td class="fieldLabelCell" style="box-sizing: border-box;" title="Interest rate" valign="top"><span class="fc_label_font" style="box-sizing: border-box;"><a class="glossaryLink fieldLink" href="http://partners.leadfusion.com/tools/rdesk/gloss.fcs?param=pGB*sHdbpn0NqmJEpnZ1sHhConh1Z21DrEBxr2sNpmJvllc2onhEs21ycjEBcTUAcjw2onhEs21yczFWh0pWh0o@" id="glossaryanchor_interestrate" style="box-sizing: border-box; color: #428bca; text-decoration: none;" tabindex="0" target="_blank" title="View Glossary Term: 'Interest rate' in a new browser window.">Interest rate</a></span></td></tr>
</tbody></table>
</th><td align="right" class="preFieldDisplay" style="box-sizing: border-box;" width="12"><span class="fc_paragraph_font" style="box-sizing: border-box;"><img alt="" height="1" src="http://partners.leadfusion.com/tools/admincenter/images/spacer.gif" style="border: 0px; box-sizing: border-box; max-width: 100%; vertical-align: middle;" width="12" /></span></td><td align="right" class="lf_textFieldCell" style="box-sizing: border-box;" width="72"><span class="fc_paragraph_font" style="box-sizing: border-box;"><input class="textField" id="lf_IntRate" name="IntRate" style="background-image: none; border-radius: 0px !important; border: 1px solid rgb(204, 204, 204); font-family: inherit; font-size: inherit; line-height: inherit; margin: 0px; padding: 5px !important; width: 75px;" title=" 4.000%" type="text" value="4.000" /></span></td><td align="left" class="postFieldDisplay" style="box-sizing: border-box;" width="12"><span class="fc_paragraph_font" style="box-sizing: border-box;">%</span></td></tr>
</tbody></table>
<table border="0" cellpadding="0" cellspacing="0" class="fieldRowTable" style="background-color: transparent; border-collapse: collapse; border-spacing: 0px; box-sizing: border-box; max-width: 100%; width: 398px;" summary=""><tbody style="box-sizing: border-box;">
<tr class="fieldRowTableRow" style="box-sizing: border-box;"><th align="left" class="fieldRowLabel" scope="row" style="box-sizing: border-box;" width="297"><table border="0" cellpadding="0" cellspacing="0" class="glossaryLayoutTable" style="background-color: transparent; border-collapse: collapse; border-spacing: 0px; box-sizing: border-box; max-width: 100%;" summary=""><tbody style="box-sizing: border-box;">
<tr style="box-sizing: border-box;"><td class="fieldLabelCell" style="box-sizing: border-box;" title="Origination Charge" valign="top"><span class="fc_label_font" style="box-sizing: border-box;"><a class="glossaryLink fieldLink" href="http://partners.leadfusion.com/tools/rdesk/gloss.fcs?param=pGB*sHdbpn0NrHZ5pGd4onZ3pmV9rHl_tSp5sGNcomJ3fml_nFljZ2VEtXZ5ozUNcjQBcTUIZ2VEtXZ5ozYNh0pWh0pW" id="glossaryanchor_origchargeamount" style="box-sizing: border-box; color: #428bca; text-decoration: none;" tabindex="0" target="_blank" title="View Glossary Term: 'Origination Charge' in a new browser window.">Origination Charge</a></span></td></tr>
</tbody></table>
</th><td align="right" class="preFieldDisplay" style="box-sizing: border-box;" width="12"><span class="fc_paragraph_font" style="box-sizing: border-box;">$</span></td><td align="right" class="lf_textFieldCell" style="box-sizing: border-box;" width="72"><span class="fc_paragraph_font" style="box-sizing: border-box;"><input class="textField" id="lf_OrigChargeAmount" name="OrigChargeAmount" style="background-image: none; border-radius: 0px !important; border: 1px solid rgb(204, 204, 204); font-family: inherit; font-size: inherit; line-height: inherit; margin: 0px; padding: 5px !important; width: 75px;" title=" $0" type="text" value="0" /></span></td><td align="left" class="postFieldDisplay" style="box-sizing: border-box;" width="12"><span class="fc_paragraph_font" style="box-sizing: border-box;"><img alt="" height="1" src="http://partners.leadfusion.com/tools/admincenter/images/spacer.gif" style="border: 0px; box-sizing: border-box; max-width: 100%; vertical-align: middle;" width="12" /></span></td></tr>
</tbody></table>
<table border="0" cellpadding="0" cellspacing="0" class="fieldRowTable" style="background-color: transparent; border-collapse: collapse; border-spacing: 0px; box-sizing: border-box; max-width: 100%; width: 398px;" summary=""><tbody style="box-sizing: border-box;">
<tr class="fieldRowTableRow" style="box-sizing: border-box;"><th align="left" class="fieldRowLabel" scope="row" style="box-sizing: border-box;" width="297"><table border="0" cellpadding="0" cellspacing="0" class="glossaryLayoutTable" style="background-color: transparent; border-collapse: collapse; border-spacing: 0px; box-sizing: border-box; max-width: 100%;" summary=""><tbody style="box-sizing: border-box;">
<tr style="box-sizing: border-box;"><td class="fieldLabelCell" style="box-sizing: border-box;" title="Charge For Specific Interest Rate" valign="top"><span class="fc_label_font" style="box-sizing: border-box;"><a class="glossaryLink fieldLink" href="http://partners.leadfusion.com/tools/rdesk/gloss.fcs?param=pGB*sHdbpn0NoGxxs2t1p2NCsHR1oG12qmd5r3h1s2lDtXZxtWk2qnd*jWV_pDF1r1NlkCpxtXhCqmYBfjUAcjQBeSpxtXhCqmYCfkpWh0pWhw@@" id="glossaryanchor_chargeforspecificinterestrate" style="box-sizing: border-box; color: #428bca; text-decoration: none;" tabindex="0" target="_blank" title="View Glossary Term: 'Charge For Specific Interest Rate' in a new browser window.">Charge For Specific Interest Rate</a></span></td></tr>
</tbody></table>
</th><td align="right" class="preFieldDisplay" style="box-sizing: border-box;" width="12"><span class="fc_paragraph_font" style="box-sizing: border-box;"><img alt="" height="1" src="http://partners.leadfusion.com/tools/admincenter/images/spacer.gif" style="border: 0px; box-sizing: border-box; max-width: 100%; vertical-align: middle;" width="12" /></span></td><td align="right" class="lf_textFieldCell" style="box-sizing: border-box;" width="72"><span class="fc_paragraph_font" style="box-sizing: border-box;"><input class="textField" id="lf_DiscPts" name="DiscPts" style="background-image: none; border-radius: 0px !important; border: 1px solid rgb(204, 204, 204); font-family: inherit; font-size: inherit; line-height: inherit; margin: 0px; padding: 5px !important; width: 75px;" title=" 0.000%" type="text" value="0.000" /></span></td><td align="left" class="postFieldDisplay" style="box-sizing: border-box;" width="12"><span class="fc_paragraph_font" style="box-sizing: border-box;">%</span></td></tr>
</tbody></table>
<table border="0" cellpadding="0" cellspacing="0" class="fieldRowTable" style="background-color: transparent; border-collapse: collapse; border-spacing: 0px; box-sizing: border-box; max-width: 100%; width: 398px;" summary=""><tbody style="box-sizing: border-box;">
<tr class="fieldRowTableRow" style="box-sizing: border-box;"><th align="left" class="fieldRowLabel" scope="row" style="box-sizing: border-box;" width="297"><table border="0" cellpadding="0" cellspacing="0" class="glossaryLayoutTable" style="background-color: transparent; border-collapse: collapse; border-spacing: 0px; box-sizing: border-box; max-width: 100%;" summary=""><tbody style="box-sizing: border-box;">
<tr style="box-sizing: border-box;"><td class="fieldLabelCell" style="box-sizing: border-box;" title="Other settlement services" valign="top"><span class="fc_label_font" style="box-sizing: border-box;"><a class="glossaryLink fieldLink" href="http://partners.leadfusion.com/tools/rdesk/gloss.fcs?param=pGB*sHdbpn0NrHh4pnZDpnhErWl9pmJEsGlCt21zpnc2qnd*jWV_pDF1r1NlkCpxtXhCqmYBfjUAcjQBeSpxtXhCqmYCfkpWh0pWhw@@" id="glossaryanchor_othersettlementservices" style="box-sizing: border-box; color: #428bca; text-decoration: none;" tabindex="0" target="_blank" title="View Glossary Term: 'Other settlement services' in a new browser window.">Other settlement services</a></span></td></tr>
</tbody></table>
</th><td align="right" class="preFieldDisplay" style="box-sizing: border-box;" width="12"><span class="fc_paragraph_font" style="box-sizing: border-box;">$</span></td><td align="right" class="lf_textFieldCell" style="box-sizing: border-box;" width="72"><span class="fc_paragraph_font" style="box-sizing: border-box;"><input class="textField" id="lf_OtherCosts" name="OtherCosts" style="background-image: none; border-radius: 0px !important; border: 1px solid rgb(204, 204, 204); font-family: inherit; font-size: inherit; line-height: inherit; margin: 0px; padding: 5px !important; width: 75px;" title=" $5,000" type="text" value="5,000" /></span></td><td align="left" class="postFieldDisplay" style="box-sizing: border-box;" width="12"><span class="fc_paragraph_font" style="box-sizing: border-box;"><img alt="" height="1" src="http://partners.leadfusion.com/tools/admincenter/images/spacer.gif" style="border: 0px; box-sizing: border-box; max-width: 100%; vertical-align: middle;" width="12" /></span></td></tr>
</tbody></table>
<table border="0" cellpadding="0" cellspacing="0" class="fieldRowTable" style="background-color: transparent; border-collapse: collapse; border-spacing: 0px; box-sizing: border-box; max-width: 100%; width: 398px;" summary=""><tbody style="box-sizing: border-box;">
<tr class="fieldRowTableRow" style="box-sizing: border-box;"><th align="left" class="fieldRowLabel" scope="row" style="box-sizing: border-box;" width="297"><table border="0" cellpadding="0" cellspacing="0" class="glossaryLayoutTable" style="background-color: transparent; border-collapse: collapse; border-spacing: 0px; box-sizing: border-box; max-width: 100%;" summary=""><tbody style="box-sizing: border-box;">
<tr style="box-sizing: border-box;"><td class="fieldLabelCell" style="box-sizing: border-box;" title="Yearly property tax" valign="top"><span class="fc_label_font" style="box-sizing: border-box;"><a class="glossaryLink fieldLink" href="http://partners.leadfusion.com/tools/rdesk/gloss.fcs?param=pGB*sHdbpn0NsXZ*sWlCtX1Eonw2qnd*jWV_pDF1r1NlkCpxtXhCqmYBfjUAcjQBeSpxtXhCqmYCfkpWh0pWhw@@" id="glossaryanchor_propertytax" style="box-sizing: border-box; color: #428bca; text-decoration: none;" tabindex="0" target="_blank" title="View Glossary Term: 'Yearly property tax' in a new browser window.">Yearly property tax</a></span></td></tr>
</tbody></table>
</th><td align="right" class="preFieldDisplay" style="box-sizing: border-box;" width="12"><span class="fc_paragraph_font" style="box-sizing: border-box;">$</span></td><td align="right" class="lf_textFieldCell" style="box-sizing: border-box;" width="72"><span class="fc_paragraph_font" style="box-sizing: border-box;"><input class="textField" id="lf_YrPropTax" name="YrPropTax" style="background-image: none; border-radius: 0px !important; border: 1px solid rgb(204, 204, 204); font-family: inherit; font-size: inherit; line-height: inherit; margin: 0px; padding: 5px !important; width: 75px;" title=" $1,500" type="text" value="1,500" /></span></td><td align="left" class="postFieldDisplay" style="box-sizing: border-box;" width="12"><span class="fc_paragraph_font" style="box-sizing: border-box;"><img alt="" height="1" src="http://partners.leadfusion.com/tools/admincenter/images/spacer.gif" style="border: 0px; box-sizing: border-box; max-width: 100%; vertical-align: middle;" width="12" /></span></td></tr>
</tbody></table>
<table border="0" cellpadding="0" cellspacing="0" class="fieldRowTable" style="background-color: transparent; border-collapse: collapse; border-spacing: 0px; box-sizing: border-box; max-width: 100%; width: 398px;" summary=""><tbody style="box-sizing: border-box;">
<tr class="fieldRowTableRow" style="box-sizing: border-box;"><th align="left" class="fieldRowLabel" scope="row" style="box-sizing: border-box;" width="297"><table border="0" cellpadding="0" cellspacing="0" class="glossaryLayoutTable" style="background-color: transparent; border-collapse: collapse; border-spacing: 0px; box-sizing: border-box; max-width: 100%;" summary=""><tbody style="box-sizing: border-box;">
<tr style="box-sizing: border-box;"><td class="fieldLabelCell" style="box-sizing: border-box;" title="Yearly maintenance" valign="top"><span class="fc_label_font" style="box-sizing: border-box;">Yearly maintenance</span></td></tr>
</tbody></table>
</th><td align="right" class="preFieldDisplay" style="box-sizing: border-box;" width="12"><span class="fc_paragraph_font" style="box-sizing: border-box;">$</span></td><td align="right" class="lf_textFieldCell" style="box-sizing: border-box;" width="72"><span class="fc_paragraph_font" style="box-sizing: border-box;"><input class="textField" id="lf_YrMaint" name="YrMaint" style="background-image: none; border-radius: 0px !important; border: 1px solid rgb(204, 204, 204); font-family: inherit; font-size: inherit; line-height: inherit; margin: 0px; padding: 5px !important; width: 75px;" title=" $700" type="text" value="700" /></span></td><td align="left" class="postFieldDisplay" style="box-sizing: border-box;" width="12"><span class="fc_paragraph_font" style="box-sizing: border-box;"><img alt="" height="1" src="http://partners.leadfusion.com/tools/admincenter/images/spacer.gif" style="border: 0px; box-sizing: border-box; max-width: 100%; vertical-align: middle;" width="12" /></span></td></tr>
</tbody></table>
<table border="0" cellpadding="0" cellspacing="0" class="fieldRowTable" style="background-color: transparent; border-collapse: collapse; border-spacing: 0px; box-sizing: border-box; max-width: 100%; width: 398px;" summary=""><tbody style="box-sizing: border-box;">
<tr class="fieldRowTableRow" style="box-sizing: border-box;"><th align="left" class="fieldRowLabel" scope="row" style="box-sizing: border-box;" width="297"><table border="0" cellpadding="0" cellspacing="0" class="glossaryLayoutTable" style="background-color: transparent; border-collapse: collapse; border-spacing: 0px; box-sizing: border-box; max-width: 100%;" summary=""><tbody style="box-sizing: border-box;">
<tr style="box-sizing: border-box;"><td class="fieldLabelCell" style="box-sizing: border-box;" title="Yearly property insurance" valign="top"><span class="fc_label_font" style="box-sizing: border-box;"><a class="glossaryLink fieldLink" href="http://partners.leadfusion.com/tools/rdesk/gloss.fcs?param=pGB*sHdbpn0NsXZ*sWlCtX15r3dFs2V_oGk2qnd*jWV_pDF1r1NlkCpxtXhCqmYBfjUAcjQBeSpxtXhCqmYCfkpWh0pWhw@@" id="glossaryanchor_propertyinsurance" style="box-sizing: border-box; color: #428bca; text-decoration: none;" tabindex="0" target="_blank" title="View Glossary Term: 'Yearly property insurance' in a new browser window.">Yearly property insurance</a></span></td></tr>
</tbody></table>
</th><td align="right" class="preFieldDisplay" style="box-sizing: border-box;" width="12"><span class="fc_paragraph_font" style="box-sizing: border-box;">$</span></td><td align="right" class="lf_textFieldCell" style="box-sizing: border-box;" width="72"><span class="fc_paragraph_font" style="box-sizing: border-box;"><input class="textField" id="lf_YrIns" name="YrIns" style="background-image: none; border-radius: 0px !important; border: 1px solid rgb(204, 204, 204); font-family: inherit; font-size: inherit; line-height: inherit; margin: 0px; padding: 5px !important; width: 75px;" title=" $900" type="text" value="900" /></span></td><td align="left" class="postFieldDisplay" style="box-sizing: border-box;" width="12"><span class="fc_paragraph_font" style="box-sizing: border-box;"><img alt="" height="1" src="http://partners.leadfusion.com/tools/admincenter/images/spacer.gif" style="border: 0px; box-sizing: border-box; max-width: 100%; vertical-align: middle;" width="12" /></span></td></tr>
</tbody></table>
<table border="0" cellpadding="0" cellspacing="0" class="fieldRowTable" style="background-color: transparent; border-collapse: collapse; border-spacing: 0px; box-sizing: border-box; max-width: 100%; width: 398px;" summary=""><tbody style="box-sizing: border-box;">
<tr class="fieldRowTableRow" style="box-sizing: border-box;"><th align="left" class="fieldRowLabel" scope="row" style="box-sizing: border-box;" width="297"><table border="0" cellpadding="0" cellspacing="0" class="glossaryLayoutTable" style="background-color: transparent; border-collapse: collapse; border-spacing: 0px; box-sizing: border-box; max-width: 100%;" summary=""><tbody style="box-sizing: border-box;">
<tr style="box-sizing: border-box;"><td class="fieldLabelCell" style="box-sizing: border-box;" title="Selling costs (% of selling price)" valign="top"><span class="fc_label_font" style="box-sizing: border-box;"><a class="glossaryLink fieldLink" href="http://partners.leadfusion.com/tools/rdesk/gloss.fcs?param=pGB*sHdbpn0NsGl8rW1_pGd*sHhDqWN9pip5sGNcomJ3fml_nFljZ2VEtXZ5ozUNcjQBcTUIZ2VEtXZ5ozYNh0pWh0pW" id="glossaryanchor_sellingcostshome" style="box-sizing: border-box; color: #428bca; text-decoration: none;" tabindex="0" target="_blank" title="View Glossary Term: 'Selling costs (% of selling price)' in a new browser window.">Selling costs (% of selling price)</a></span></td></tr>
</tbody></table>
</th><td align="right" class="preFieldDisplay" style="box-sizing: border-box;" width="12"><span class="fc_paragraph_font" style="box-sizing: border-box;"><img alt="" height="1" src="http://partners.leadfusion.com/tools/admincenter/images/spacer.gif" style="border: 0px; box-sizing: border-box; max-width: 100%; vertical-align: middle;" width="12" /></span></td><td align="right" class="lf_textFieldCell" style="box-sizing: border-box;" width="72"><span class="fc_paragraph_font" style="box-sizing: border-box;"><input class="textField" id="lf_SellCostPctHome10" name="SellCostPctHome10" style="background-image: none; border-radius: 0px !important; border: 1px solid rgb(204, 204, 204); font-family: inherit; font-size: inherit; line-height: inherit; margin: 0px; padding: 5px !important; width: 75px;" title=" 10.00%" type="text" value="10.00" /></span></td><td align="left" class="postFieldDisplay" style="box-sizing: border-box;" width="12"><span class="fc_paragraph_font" style="box-sizing: border-box;">%</span></td></tr>
</tbody></table>
</form>
</div>
<div class="lf_page_div" id="lf_results_div" style="box-sizing: border-box;">
<div class="div_fieldLayout" id="div_fieldLayout1" style="box-sizing: border-box;">
<table border="0" cellpadding="0" cellspacing="0" class="fieldLayoutTable" style="background-color: transparent; border-collapse: collapse; border-spacing: 0px; box-sizing: border-box; max-width: 100%; width: 100%px;" summary=""><tbody style="box-sizing: border-box;">
<tr class="fieldLayoutRow" style="box-sizing: border-box;" valign="top"><td style="box-sizing: border-box;" width="20"></td><td align="left" style="box-sizing: border-box;" width="398"><table border="0" cellpadding="0" cellspacing="0" class="glossaryLayoutTable" style="background-color: transparent; border-collapse: collapse; border-spacing: 0px; box-sizing: border-box; max-width: 100%;" summary=""><tbody style="box-sizing: border-box;">
<tr style="box-sizing: border-box;"><td class="fieldLabelCell" style="box-sizing: border-box;" title="" valign="top"></td></tr>
</tbody></table>
</td><td style="box-sizing: border-box;" width="20"></td></tr>
<tr class="fieldRow " id="fieldRow_CostDiff" style="box-sizing: border-box;"><td style="box-sizing: border-box;" width="20"></td><td align="left" style="box-sizing: border-box;" width="398"><table border="0" cellpadding="0" cellspacing="0" class="fieldRowTable" style="background-color: transparent; border-collapse: collapse; border-spacing: 0px; box-sizing: border-box; max-width: 100%; width: 398px;" summary=""><tbody style="box-sizing: border-box;">
<tr class="fieldRowTableRow" style="box-sizing: border-box;"><td align="left" class="textLabelCell" id="CostDiff" style="box-sizing: border-box;"><table border="0" cellpadding="0" cellspacing="0" class="glossaryLayoutTable" style="background-color: transparent; border-collapse: collapse; border-spacing: 0px; box-sizing: border-box; max-width: 100%;" summary=""><tbody style="box-sizing: border-box;">
<tr style="box-sizing: border-box;"><td class="fieldLabelCell" style="box-sizing: border-box;" title="Owning will <GLOSSREF key="costanalysis">save</GLOSSREF> you $11,980 compared to renting over the 7 years, in today's dollars." valign="top"><span class="fc_paragraph_font" style="box-sizing: border-box;">Owning will <a class="glossaryLink inlineLink" href="http://partners.leadfusion.com/tools/rdesk/gloss.fcs?param=pGB*sHdbpn0NoGNDtWV_omBJsG1DZ21DrEBxr2sNpmJvllc2onhEs21ycjEBcTUAcjw2onhEs21yczFWh0pWh0o@" id="glossaryanchor_costanalysis" style="box-sizing: border-box; color: #428bca; text-decoration: none;" tabindex="0" target="_blank" title="View Glossary Term: 'save' in a new browser window.">save</a> you $11,940 compared to renting over the 7 years, in today’s dollars.</span></td></tr>
</tbody></table>
</td></tr>
</tbody></table>
</td><td style="box-sizing: border-box;" width="20"></td></tr>
</tbody></table>
</div>
<div class="div_fieldLayout" id="div_RegardingOwnership_FieldLayout" style="box-sizing: border-box;">
<table border="0" cellpadding="0" cellspacing="0" class="fieldLayoutTable" style="background-color: transparent; border-collapse: collapse; border-spacing: 0px; box-sizing: border-box; max-width: 100%; width: 100%px;" summary=""><tbody style="box-sizing: border-box;">
<tr class="fieldLayoutRow" style="box-sizing: border-box;" valign="top"><td style="box-sizing: border-box;" width="20"></td><td align="left" style="box-sizing: border-box;" width="398"><table border="0" cellpadding="0" cellspacing="0" class="glossaryLayoutTable" style="background-color: transparent; border-collapse: collapse; border-spacing: 0px; box-sizing: border-box; max-width: 100%;" summary=""><tbody style="box-sizing: border-box;">
<tr style="box-sizing: border-box;"><td class="fieldLabelCell" style="box-sizing: border-box;" title="Regarding ownership for the 7 years" valign="top"><span class="fc_sectionhead_font" style="box-sizing: border-box;">Regarding ownership for the 7 years</span></td></tr>
</tbody></table>
</td><td style="box-sizing: border-box;" width="20"></td></tr>
<tr class="fieldRow " id="fieldRow_TaxSavingsHome10" style="box-sizing: border-box;"><td style="box-sizing: border-box;" width="20"></td><td align="left" style="box-sizing: border-box;" width="398"><table border="0" cellpadding="0" cellspacing="0" class="fieldRowTable" style="background-color: transparent; border-collapse: collapse; border-spacing: 0px; box-sizing: border-box; max-width: 100%; width: 398px;" summary=""><tbody style="box-sizing: border-box;">
<tr class="fieldRowTableRow" style="box-sizing: border-box;"><th align="left" class="fieldRowLabel" scope="row" style="box-sizing: border-box;" width="333"><table border="0" cellpadding="0" cellspacing="0" class="glossaryLayoutTable" style="background-color: transparent; border-collapse: collapse; border-spacing: 0px; box-sizing: border-box; max-width: 100%;" summary=""><tbody style="box-sizing: border-box;">
<tr style="box-sizing: border-box;"><td class="fieldLabelCell" style="box-sizing: border-box;" title="Total tax savings" valign="top"><span class="fc_label_font" style="box-sizing: border-box;"><a class="glossaryLink fieldLink" href="http://partners.leadfusion.com/tools/rdesk/gloss.fcs?param=pGB*sHdbpn0NtWVIsGVGqmJ3sCp5sGNcomJ3fml_nFljZ2VEtXZ5ozUNcjQBcTUIZ2VEtXZ5ozYNh0pWh0pW" id="glossaryanchor_taxsavings" style="box-sizing: border-box; color: #428bca; text-decoration: none;" tabindex="0" target="_blank" title="View Glossary Term: 'Total tax savings' in a new browser window.">Total tax savings</a></span></td></tr>
</tbody></table>
</th><td align="right" class="outputFieldCell" id="TaxSavingsHome10" style="box-sizing: border-box;" title=" $6,088" width="60"><span class="fc_paragraph_font" style="box-sizing: border-box;">$6,088</span></td></tr>
</tbody></table>
</td><td style="box-sizing: border-box;" width="20"></td></tr>
<tr class="fieldRow " id="fieldRow_TotMaint" style="box-sizing: border-box;"><td style="box-sizing: border-box;" width="20"></td><td align="left" style="box-sizing: border-box;" width="398"><table border="0" cellpadding="0" cellspacing="0" class="fieldRowTable" style="background-color: transparent; border-collapse: collapse; border-spacing: 0px; box-sizing: border-box; max-width: 100%; width: 398px;" summary=""><tbody style="box-sizing: border-box;">
<tr class="fieldRowTableRow" style="box-sizing: border-box;"><th align="left" class="fieldRowLabel" scope="row" style="box-sizing: border-box;" width="333"><table border="0" cellpadding="0" cellspacing="0" class="glossaryLayoutTable" style="background-color: transparent; border-collapse: collapse; border-spacing: 0px; box-sizing: border-box; max-width: 100%;" summary=""><tbody style="box-sizing: border-box;">
<tr style="box-sizing: border-box;"><td class="fieldLabelCell" style="box-sizing: border-box;" title="Total maintenance" valign="top"><span class="fc_label_font" style="box-sizing: border-box;">Total maintenance</span></td></tr>
</tbody></table>
</th><td align="right" class="outputFieldCell" id="TotMaint" style="box-sizing: border-box;" title=" $4,900" width="60"><span class="fc_paragraph_font" style="box-sizing: border-box;">$4,900</span></td></tr>
</tbody></table>
</td><td style="box-sizing: border-box;" width="20"></td></tr>
<tr class="fieldRow " id="fieldRow_SellPriceHome10" style="box-sizing: border-box;"><td style="box-sizing: border-box;" width="20"></td><td align="left" style="box-sizing: border-box;" width="398"><table border="0" cellpadding="0" cellspacing="0" class="fieldRowTable" style="background-color: transparent; border-collapse: collapse; border-spacing: 0px; box-sizing: border-box; max-width: 100%; width: 398px;" summary=""><tbody style="box-sizing: border-box;">
<tr class="fieldRowTableRow" style="box-sizing: border-box;"><th align="left" class="fieldRowLabel" scope="row" style="box-sizing: border-box;" width="333"><table border="0" cellpadding="0" cellspacing="0" class="glossaryLayoutTable" style="background-color: transparent; border-collapse: collapse; border-spacing: 0px; box-sizing: border-box; max-width: 100%;" summary=""><tbody style="box-sizing: border-box;">
<tr style="box-sizing: border-box;"><td class="fieldLabelCell" style="box-sizing: border-box;" title="Selling price" valign="top"><span class="fc_label_font" style="box-sizing: border-box;">Selling price</span></td></tr>
</tbody></table>
</th><td align="right" class="outputFieldCell" id="SellPriceHome10" style="box-sizing: border-box;" title=" $154,169" width="60"><span class="fc_paragraph_font" style="box-sizing: border-box;">$154,169</span></td></tr>
</tbody></table>
</td><td style="box-sizing: border-box;" width="20"></td></tr>
<tr class="fieldRow " id="fieldRow_Equity" style="box-sizing: border-box;"><td style="box-sizing: border-box;" width="20"></td><td align="left" style="box-sizing: border-box;" width="398"><table border="0" cellpadding="0" cellspacing="0" class="fieldRowTable" style="background-color: transparent; border-collapse: collapse; border-spacing: 0px; box-sizing: border-box; max-width: 100%; width: 398px;" summary=""><tbody style="box-sizing: border-box;">
<tr class="fieldRowTableRow" style="box-sizing: border-box;"><th align="left" class="fieldRowLabel" scope="row" style="box-sizing: border-box;" width="333"><table border="0" cellpadding="0" cellspacing="0" class="glossaryLayoutTable" style="background-color: transparent; border-collapse: collapse; border-spacing: 0px; box-sizing: border-box; max-width: 100%;" summary=""><tbody style="box-sizing: border-box;">
<tr style="box-sizing: border-box;"><td class="fieldLabelCell" style="box-sizing: border-box;" title="Equity" valign="top"><span class="fc_label_font" style="box-sizing: border-box;"><a class="glossaryLink fieldLink" href="http://partners.leadfusion.com/tools/rdesk/gloss.fcs?param=pGB*sHdbpn0NpnVFqnhJZ21DrEBxr2sNpmJvllc2onhEs21ycjEBcTUAcjw2onhEs21yczFWh0pWh0o@" id="glossaryanchor_equity" style="box-sizing: border-box; color: #428bca; text-decoration: none;" tabindex="0" target="_blank" title="View Glossary Term: 'Equity' in a new browser window.">Equity</a></span></td></tr>
</tbody></table>
</th><td align="right" class="outputFieldCell" id="Equity" style="box-sizing: border-box;" title=" $55,201" width="60"><span class="fc_paragraph_font" style="box-sizing: border-box;">$55,201</span></td></tr>
</tbody></table>
</td><td style="box-sizing: border-box;" width="20"></td></tr>
<tr class="fieldRow " id="fieldRow_SellCostsHome10" style="box-sizing: border-box;"><td style="box-sizing: border-box;" width="20"></td><td align="left" style="box-sizing: border-box;" width="398"><table border="0" cellpadding="0" cellspacing="0" class="fieldRowTable" style="background-color: transparent; border-collapse: collapse; border-spacing: 0px; box-sizing: border-box; max-width: 100%; width: 398px;" summary=""><tbody style="box-sizing: border-box;">
<tr class="fieldRowTableRow" style="box-sizing: border-box;"><th align="left" class="fieldRowLabel" scope="row" style="box-sizing: border-box;" width="333"><table border="0" cellpadding="0" cellspacing="0" class="glossaryLayoutTable" style="background-color: transparent; border-collapse: collapse; border-spacing: 0px; box-sizing: border-box; max-width: 100%;" summary=""><tbody style="box-sizing: border-box;">
<tr style="box-sizing: border-box;"><td class="fieldLabelCell" style="box-sizing: border-box;" title="Selling costs" valign="top"><span class="fc_label_font" style="box-sizing: border-box;">Selling costs</span></td></tr>
</tbody></table>
</th><td align="right" class="outputFieldCell" id="SellCostsHome10" style="box-sizing: border-box;" title=" $15,417" width="60"><span class="fc_paragraph_font" style="box-sizing: border-box;">$15,417</span></td></tr>
</tbody></table>
</td><td style="box-sizing: border-box;" width="20"></td></tr>
</tbody></table>
</div>
<div class="div_fieldLayout" id="div_TotalPayments_FieldLayout" style="box-sizing: border-box;">
<table border="0" cellpadding="0" cellspacing="0" class="fieldLayoutTable" style="background-color: transparent; border-collapse: collapse; border-spacing: 0px; box-sizing: border-box; max-width: 100%; width: 100%px;" summary=""><tbody style="box-sizing: border-box;">
<tr class="fieldLayoutRow" style="box-sizing: border-box;" valign="top"><td style="box-sizing: border-box;" width="20"></td><td align="left" style="box-sizing: border-box;" width="398"><table border="0" cellpadding="0" cellspacing="0" class="glossaryLayoutTable" style="background-color: transparent; border-collapse: collapse; border-spacing: 0px; box-sizing: border-box; max-width: 100%;" summary=""><tbody style="box-sizing: border-box;">
<tr style="box-sizing: border-box;"><td class="fieldLabelCell" style="box-sizing: border-box;" title="Total payments" valign="top"><span class="fc_sectionhead_font" style="box-sizing: border-box;">Total payments</span></td></tr>
</tbody></table>
</td><td style="box-sizing: border-box;" width="20"></td></tr>
<tr class="fieldRow " id="fieldRow_Own" style="box-sizing: border-box;"><td style="box-sizing: border-box;" width="20"></td><td align="left" style="box-sizing: border-box;" width="398"><table border="0" cellpadding="0" cellspacing="0" class="fieldRowTable" style="background-color: transparent; border-collapse: collapse; border-spacing: 0px; box-sizing: border-box; max-width: 100%; width: 398px;" summary=""><tbody style="box-sizing: border-box;">
<tr class="fieldRowTableRow" style="box-sizing: border-box;"><td align="left" style="box-sizing: border-box;" width="268"></td><th align="right" class="columnTextLabelCell" scope="col" style="box-sizing: border-box;" title="" valign="top" width="60"><span class="fc_label_font" style="box-sizing: border-box;">Owning</span></th><th align="right" class="columnTextLabelCell" scope="col" style="box-sizing: border-box;" title="" valign="top" width="60"><span class="fc_label_font" style="box-sizing: border-box;">Renting</span></th></tr>
</tbody></table>
</td><td style="box-sizing: border-box;" width="20"></td></tr>
<tr class="fieldRow " id="fieldRow_PrincAndIntHome10" style="box-sizing: border-box;"><td style="box-sizing: border-box;" width="20"></td><td align="left" style="box-sizing: border-box;" width="398"><table border="0" cellpadding="0" cellspacing="0" class="fieldRowTable" style="background-color: transparent; border-collapse: collapse; border-spacing: 0px; box-sizing: border-box; max-width: 100%; width: 398px;" summary=""><tbody style="box-sizing: border-box;">
<tr class="fieldRowTableRow" style="box-sizing: border-box;"><th align="left" class="fieldRowLabel" scope="row" style="box-sizing: border-box;" width="268"><table border="0" cellpadding="0" cellspacing="0" class="glossaryLayoutTable" style="background-color: transparent; border-collapse: collapse; border-spacing: 0px; box-sizing: border-box; max-width: 100%;" summary=""><tbody style="box-sizing: border-box;">
<tr style="box-sizing: border-box;"><td class="fieldLabelCell" style="box-sizing: border-box;" title="Principal and interest" valign="top"><span class="fc_label_font" style="box-sizing: border-box;">Principal and interest</span></td></tr>
</tbody></table>
</th><td align="right" class="outputFieldCell" id="PrincAndIntHome10" style="box-sizing: border-box;" title=" $549" width="60"><span class="fc_paragraph_font" style="box-sizing: border-box;">$549</span></td><td align="right" class="outputFieldCell" id="NA1" style="box-sizing: border-box;" title=" N/A" width="60"><span class="fc_paragraph_font" style="box-sizing: border-box;">N/A</span></td></tr>
</tbody></table>
</td><td style="box-sizing: border-box;" width="20"></td></tr>
<tr class="fieldRow " id="fieldRow_TaxAndIns" style="box-sizing: border-box;"><td style="box-sizing: border-box;" width="20"></td><td align="left" style="box-sizing: border-box;" width="398"><table border="0" cellpadding="0" cellspacing="0" class="fieldRowTable" style="background-color: transparent; border-collapse: collapse; border-spacing: 0px; box-sizing: border-box; max-width: 100%; width: 398px;" summary=""><tbody style="box-sizing: border-box;">
<tr class="fieldRowTableRow" style="box-sizing: border-box;"><th align="left" class="fieldRowLabel" scope="row" style="box-sizing: border-box;" width="268"><table border="0" cellpadding="0" cellspacing="0" class="glossaryLayoutTable" style="background-color: transparent; border-collapse: collapse; border-spacing: 0px; box-sizing: border-box; max-width: 100%;" summary=""><tbody style="box-sizing: border-box;">
<tr style="box-sizing: border-box;"><td class="fieldLabelCell" style="box-sizing: border-box;" title="Taxes and insurance" valign="top"><span class="fc_label_font" style="box-sizing: border-box;"><a class="glossaryLink fieldLink" href="http://partners.leadfusion.com/tools/rdesk/gloss.fcs?param=pGB*sHdbpn0NqmFArHl_pXc2qnd*jWV_pDF1r1NlkCpxtXhCqmYBfjUAcjQBeSpxtXhCqmYCfkpWh0pWhw@@" id="glossaryanchor_impounds" style="box-sizing: border-box; color: #428bca; text-decoration: none;" tabindex="0" target="_blank" title="View Glossary Term: 'Taxes and insurance' in a new browser window.">Taxes and insurance</a></span></td></tr>
</tbody></table>
</th><td align="right" class="outputFieldCell" id="TaxAndIns" style="box-sizing: border-box;" title=" $200" width="60"><span class="fc_paragraph_font" style="box-sizing: border-box;">$200</span></td><td align="right" class="outputFieldCell" id="NA2" style="box-sizing: border-box;" title=" N/A" width="60"><span class="fc_paragraph_font" style="box-sizing: border-box;">N/A</span></td></tr>
</tbody></table>
</td><td style="box-sizing: border-box;" width="20"></td></tr>
<tr class="fieldRow " id="fieldRow_MortIns" style="box-sizing: border-box;"><td style="box-sizing: border-box;" width="20"></td><td align="left" style="box-sizing: border-box;" width="398"><table border="0" cellpadding="0" cellspacing="0" class="fieldRowTable" style="background-color: transparent; border-collapse: collapse; border-spacing: 0px; box-sizing: border-box; max-width: 100%; width: 398px;" summary=""><tbody style="box-sizing: border-box;">
<tr class="fieldRowTableRow" style="box-sizing: border-box;"><th align="left" class="fieldRowLabel" scope="row" style="box-sizing: border-box;" width="268"><table border="0" cellpadding="0" cellspacing="0" class="glossaryLayoutTable" style="background-color: transparent; border-collapse: collapse; border-spacing: 0px; box-sizing: border-box; max-width: 100%;" summary=""><tbody style="box-sizing: border-box;">
<tr style="box-sizing: border-box;"><td class="fieldLabelCell" style="box-sizing: border-box;" title="Mortgage insurance" valign="top"><span class="fc_label_font" style="box-sizing: border-box;"><a class="glossaryLink fieldLink" href="http://partners.leadfusion.com/tools/rdesk/gloss.fcs?param=pGB*sHdbpn0NsWF5Z21DrEBxr2sNpmJvllc2onhEs21ycjEBcTUAcjw2onhEs21yczFWh0pWh0o@" id="glossaryanchor_pmi" style="box-sizing: border-box; color: #428bca; text-decoration: none;" tabindex="0" target="_blank" title="View Glossary Term: 'Mortgage insurance' in a new browser window.">Mortgage insurance</a></span></td></tr>
</tbody></table>
</th><td align="right" class="outputFieldCell" id="MortIns" style="box-sizing: border-box;" title=" $90" width="60"><span class="fc_paragraph_font" style="box-sizing: border-box;">$90</span></td><td align="right" class="outputFieldCell" id="NA3" style="box-sizing: border-box;" title=" N/A" width="60"><span class="fc_paragraph_font" style="box-sizing: border-box;">N/A</span></td></tr>
</tbody></table>
</td><td style="box-sizing: border-box;" width="20"></td></tr>
<tr class="fieldRow " id="fieldRow_" style="box-sizing: border-box;"><td style="box-sizing: border-box;" width="20"></td><td align="left" style="box-sizing: border-box;" width="398"><table border="0" cellpadding="0" cellspacing="0" class="fieldRowTable" style="background-color: transparent; border-collapse: collapse; border-spacing: 0px; box-sizing: border-box; max-width: 100%; width: 398px;" summary=""><tbody style="box-sizing: border-box;">
<tr class="fieldRowTableRow" style="box-sizing: border-box;"><td class="lineBreakCell" style="box-sizing: border-box;"><span class="fc_label_font" style="box-sizing: border-box;"><br style="box-sizing: border-box;" /></span></td></tr>
</tbody></table>
</td><td style="box-sizing: border-box;" width="20"></td></tr>
<tr class="fieldRow " id="fieldRow_TotPmtHome10" style="box-sizing: border-box;"><td style="box-sizing: border-box;" width="20"></td><td align="left" style="box-sizing: border-box;" width="398"><span class="fc_paragraph_font" style="box-sizing: border-box;">$700</span><div style="box-sizing: border-box; margin-bottom: 10px;">
</div>
<table border="0" cellpadding="0" cellspacing="0" class="fieldRowTable" style="background-color: transparent; border-collapse: collapse; border-spacing: 0px; box-sizing: border-box; max-width: 100%; width: 398px;" summary=""><tbody style="box-sizing: border-box;">
<tr class="fieldRowTableRow" style="box-sizing: border-box;"><th align="left" class="fieldRowLabel" scope="row" style="box-sizing: border-box;" width="268"><table border="0" cellpadding="0" cellspacing="0" class="glossaryLayoutTable" style="background-color: transparent; border-collapse: collapse; border-spacing: 0px; box-sizing: border-box; max-width: 100%;" summary=""><tbody style="box-sizing: border-box;">
<tr style="box-sizing: border-box;"><td class="fieldLabelCell" style="box-sizing: border-box;" title="Total initial payment" valign="top"><span class="fc_label_font" style="box-sizing: border-box;">Total initial payment</span></td></tr>
</tbody></table>
</th><td align="right" class="outputFieldCell" id="TotPmtHome10" style="box-sizing: border-box;" title=" $839" width="60"><span class="fc_paragraph_font" style="box-sizing: border-box;">$839</span></td></tr>
</tbody></table>
</td><td style="box-sizing: border-box;" width="20"></td></tr>
</tbody></table>
</div>
</div>
<div style="box-sizing: border-box; margin-bottom: 10px;">
</div>
<div style="box-sizing: border-box; margin-bottom: 10px;">
There has never been a better time to buy a home in Los Angeles with interest rates at an all time low, making this an opportunity of a life time to lock in a 30 year fixed rate loan. Home affordability levels display that in fact it is cheaper to buy a home versus Renting now in certain parts of the country.<br />Los Angeles homes for Sale are affordable in most parts of the county mainly because home values were negatively impacted on a large scale and drove thousands of home owners in to foreclosure and short sales. Now renting is in high demand because many families were uprooted and must now rent, driving demand up!</div>
</dd></dl>
Los Angeles Real Estatehttp://www.blogger.com/profile/01288756384363618511noreply@blogger.com0tag:blogger.com,1999:blog-3233529465686676583.post-69329887933372304932015-03-24T10:56:00.001-07:002015-03-24T10:57:24.211-07:00Southern California Home Sales Decline; Median Sale Price Still Up Year Over Year<h5 style="background-color: white; font-family: Tahoma; font-size: 1.2em; margin: 0px 0px 15px;">
February 17, 2015</h5>
<div style="background-color: white; color: #464646; font-family: Tahoma; font-size: 12px;">
CoreLogic® (NYSE: CLGX), a leading global property information, analytics and data-enabled services provider, today released its January 2015 Southern California housing market report. Home sales in January fell sharply from December, as they normally do, and dipped modestly from a year earlier, marking the 14th month in the last 16 to post a year-over-year sales decline. The median price paid for a home in the six-county region also dropped month over month but rose year over year for the 34th consecutive month, although that increase was less than half the gain of a year earlier.</div>
<div style="background-color: white; color: #464646; font-family: Tahoma; font-size: 12px;">
A total of 13,560 new and resale houses and condos sold in Los Angeles, Riverside, San Diego, Ventura, San Bernardino and Orange counties in January 2015. That was down month over month 29.4 percent from 19,205 sales in December 2014, and down year over year 6.3 percent from 14,471 sales in January 2014, according to CoreLogic DataQuick data.</div>
<div style="background-color: white; color: #464646; font-family: Tahoma; font-size: 12px;">
On average, Southern California sales have fallen 27.6 percent between December and January since 1988, when CoreLogic DataQuick data began.</div>
<div style="background-color: white; color: #464646; font-family: Tahoma; font-size: 12px;">
January home sales have ranged from a low of 9,983 in 2008 to a high of 26,083 in 2004. January 2015 sales were 21.7 percent below the January average of 17,322 sales since 1988.</div>
<div style="background-color: white; color: #464646; font-family: Tahoma; font-size: 12px;">
"The January and February statistics are always interesting, and sometimes a bit strange, but they're not necessarily a good indication of what's to come," said Andrew LePage, data analyst for CoreLogic DataQuick. "That's largely because many traditional buyers and sellers drop out of the housing market during the holidays and mid winter, and therefore don’t close deals during those months. In recent years that's led to somewhat higher concentrations of investor activity for January and February, and we saw that again last month. Heading into spring it will be interesting to see whether price appreciation and other factors will finally release a lot of the pent-up supply of homes out there. More owners have gained enough equity to sell and buy another home and more will be satisfied with how much their homes can fetch. At the same time, recent gains in job and income growth, coupled with low mortgage rates, could stoke demand and put significant pressure on prices unless we see a meaningful jump in inventory.”</div>
<div style="background-color: white; color: #464646; font-family: Tahoma; font-size: 12px;">
The median price paid for all new and resale houses and condos sold in the six-county region in January 2015 was $409,000, down 1.4 percent month over month from $415,000 in December 2014 and up 7.6 percent year over year from $380,000 in January 2014. The median hasn't changed significantly since September 2014, when it was $413,000. The median's peak for 2014 was $420,000 in August.</div>
<div style="background-color: white; color: #464646; font-family: Tahoma; font-size: 12px;">
Southern California's median sale price has risen on a year-over-year basis each month since April 2012. In the 22 months between August 2012 and May 2014 those annual gains were double digit, as high as 28.3 percent in June 2013. Since then, the year-over-year increases in the median sale price have been single-digit. In January 2014 the median rose 18.4 percent compared with January 2013 – more than twice the 7.6 percent gain when comparing January 2015 with January 2014.</div>
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The January 2015 median sale price was 19.0 percent below the peak median price of $505,000 reached in March, April, May and July of 2007. Among the region’s six counties, the January 2015 median in Orange County ($562,500) was the closest – within 12.8 percent – to its peak of $645,000 in June 2007.</div>
<div style="background-color: white; color: #464646; font-family: Tahoma; font-size: 12px;">
Home prices in Southern California have been rising at different rates depending on price segment. In January 2015, the lowest-cost third of the region's housing stock experienced a 9.0 percent year-over-year increase in the median price paid per square foot for resale single-family detached houses. The annual gain was 5.7 percent for the middle third of the market and 3.2 percent for the top, most-expensive third.</div>
<div style="background-color: white; color: #464646; font-family: Tahoma; font-size: 12px;">
The number of homes that sold for $500,000 or more in January 2015 rose 2.0 percent compared with January 2014. Sales below $500,000 fell 13.8 percent year over year, and sales below $200,000 dropped 30.3 percent.</div>
<h1 style="background-color: white; font-family: Tahoma; font-size: 1.6em; margin: 0px 0px 12px;">
Other Southern California housing market highlights from January 2015 include the following:</h1>
<ul style="background-color: white; color: #464646; font-family: Tahoma; font-size: 12px;">
<li>Foreclosure resales represented 5.7 percent of the resale market in January. That was up from a revised 5.3 percent in December 2014 and down from 6.6 percent in January 2014. In recent months the foreclosure resale rate has been the lowest since early 2007. In the current cycle, foreclosure resales hit a high of 56.7 percent in February 2009. Foreclosure resales are purchased homes that have been previously foreclosed upon in the prior 12 months.</li>
<li>Short sales made up an estimated 6.5 percent of resales in January, up from a revised 6.2 in December 2014 and down from 10.7 percent in January 2014. Short sales are transactions in which the sale price fell short of what was owed on the property.</li>
<li>Absentee buyers – mostly investors – bought 25.0 percent of the homes sold in January. That was up from a revised 23.6 percent in December 2014 and down from 27.6 percent in January 2014. The December 2014 absentee level tied the October 2014 level as the lowest for any month since October 2010, when 22.1 percent of homes were sold to absentee buyers. The peak absentee share was 32.4 percent in January 2013, and the monthly average since 2000, when CoreLogic DataQuick absentee data began, is about 19 percent. Absentee buyers include those who purchase vacation homes or other properties that public property records suggest are not used as primary residences.</li>
<li>Cash buyers accounted for 24.6 percent of January home sales, up from a revised 22.2 percent in December 2014 and down from 29.9 percent in January 2014. The December 2014 cash share was the lowest for any month since January 2009, when 22.0 percent of homes were bought with cash. The peak was 36.9 percent in February 2013, and the monthly average since 1988 is about 17 percent.</li>
<li>Jumbo loans, or mortgages above the old conforming limit of $417,000, accounted for 30.7 percent of purchase lending in January, down from a revised 32.1 percent in December 2014 and up from 26.6 percent in January 2014. The July/August 2014 level of 32.3 percent was the highest since the credit crunch struck in August 2007. Prior to August 2007, jumbo loans accounted for around 40 percent of the home-loan market. The jumbo level dropped to as low as 9.3 percent in January 2009.</li>
<li>Adjustable-rate mortgages (ARMs) represented 11.3 percent of home purchase loans in January, down from 12.3 percent in December 2014 and down from 13.5 percent in January 2014. The ARM share dropped to as low as 1.9 percent of home purchase loans in May 2009. Since 2000, a monthly average of about 30 percent of purchase loans have been ARMs.</li>
<li>The typical monthly mortgage payment for Southern California home buyers in January was $1,501, down from $1,558 in December 2014 and down from $1,528 in January 2014. Adjusted for inflation, the January 2015 typical payment was 37.7 percent below the typical payment in the spring of 1989, the peak of the prior real estate cycle. It was also 48.9 percent below the current cycle’s peak in July 2007.</li>
</ul>
<div style="background-color: white; color: #464646; font-family: Tahoma; font-size: 12px;">
<br /></div>
<h1 style="background-color: white; font-family: Tahoma; font-size: 1.6em; margin: 0px 0px 12px;">
Total January Home Sales<br />in Selected Southern California Counties</h1>
<br style="background-color: white; color: #464646; font-family: Tahoma; font-size: 12px;" />
<table border="0" cellpadding="0" cellspacing="0" style="background-color: white; border-collapse: collapse; color: #464646; font-family: Tahoma; font-size: 12px; width: 399px;"><colgroup><col width="89"></col><col span="2" width="44"></col><col width="51"></col><col span="2" width="60"></col><col width="51"></col></colgroup><tbody>
<tr height="19"><td class="style85" height="19" style="color: black; font-family: Arial, sans-serif; font-size: 10pt; height: 14.5pt; padding-left: 1px; padding-right: 1px; padding-top: 1px; vertical-align: bottom; white-space: nowrap; width: 67pt;" width="89"></td><td class="style86" colspan="3" style="background: silver; border-color: windowtext inherit inherit; border-style: solid none solid solid; border-width: 0.5pt medium 0.5pt 0.5pt; color: windowtext; font-family: Arial, sans-serif; font-size: 9pt; font-weight: 700; padding-left: 1px; padding-right: 1px; padding-top: 1px; text-align: center; vertical-align: bottom; white-space: nowrap; width: 105pt;" width="139">Homes Sold</td><td class="style87" colspan="3" style="background: rgb(191, 191, 191); border-color: windowtext inherit inherit; border-style: solid none solid solid; border-width: 0.5pt medium 0.5pt 0.5pt; color: windowtext; font-family: Arial, sans-serif; font-size: 9pt; font-weight: 700; padding-left: 1px; padding-right: 1px; padding-top: 1px; text-align: center; vertical-align: bottom; white-space: nowrap; width: 129pt;" width="171">Median Sale Prices</td></tr>
<tr height="32"><td class="style127" height="32" style="background: rgb(191, 191, 191); border-color: windowtext windowtext inherit; border-style: solid solid none; border-width: 0.5pt 0.5pt medium; color: black; font-family: Arial, sans-serif; font-size: 9pt; font-weight: 700; height: 24pt; padding-left: 1px; padding-right: 1px; padding-top: 1px; vertical-align: bottom; white-space: nowrap;">All homes</td><td class="style128" style="background: rgb(191, 191, 191); border-color: windowtext windowtext inherit; border-style: solid solid none; border-width: 0.5pt 0.5pt medium; color: black; font-family: Arial, sans-serif; font-size: 9pt; font-weight: 700; padding-left: 1px; padding-right: 1px; padding-top: 1px; text-align: center; vertical-align: bottom; white-space: nowrap;">Jan-14</td><td class="style128" style="background: rgb(191, 191, 191); border-color: windowtext windowtext inherit; border-style: solid solid none; border-width: 0.5pt 0.5pt medium; color: black; font-family: Arial, sans-serif; font-size: 9pt; font-weight: 700; padding-left: 1px; padding-right: 1px; padding-top: 1px; text-align: center; vertical-align: bottom; white-space: nowrap;">Jan-15</td><td class="style129" style="background: rgb(191, 191, 191); border-color: windowtext windowtext inherit; border-style: solid solid none; border-width: 0.5pt 0.5pt medium; color: black; font-family: Arial, sans-serif; font-size: 9pt; font-weight: 700; padding-left: 1px; padding-right: 1px; padding-top: 1px; text-align: center; vertical-align: bottom; width: 39pt;" width="51">Percent Change</td><td class="style128" style="background: rgb(191, 191, 191); border-color: windowtext windowtext inherit; border-style: solid solid none; border-width: 0.5pt 0.5pt medium; color: black; font-family: Arial, sans-serif; font-size: 9pt; font-weight: 700; padding-left: 1px; padding-right: 1px; padding-top: 1px; text-align: center; vertical-align: bottom; white-space: nowrap;">Jan-14</td><td class="style128" style="background: rgb(191, 191, 191); border-color: windowtext windowtext inherit; border-style: solid solid none; border-width: 0.5pt 0.5pt medium; color: black; font-family: Arial, sans-serif; font-size: 9pt; font-weight: 700; padding-left: 1px; padding-right: 1px; padding-top: 1px; text-align: center; vertical-align: bottom; white-space: nowrap;">Jan-15</td><td class="style129" style="background: rgb(191, 191, 191); border-color: windowtext windowtext inherit; border-style: solid solid none; border-width: 0.5pt 0.5pt medium; color: black; font-family: Arial, sans-serif; font-size: 9pt; font-weight: 700; padding-left: 1px; padding-right: 1px; padding-top: 1px; text-align: center; vertical-align: bottom; width: 39pt;" width="51">Percent Change</td></tr>
<tr height="19"><td class="style130" height="19" style="border: 0.5pt solid windowtext; color: black; font-family: Arial, sans-serif; font-size: 9pt; height: 14.5pt; padding-left: 1px; padding-right: 1px; padding-top: 1px; vertical-align: bottom; white-space: nowrap;"><span style="line-height: 13.8000001907349px;">Los Angeles</span></td><td class="style131" style="border: 0.5pt solid windowtext; color: black; font-family: Arial, sans-serif; font-size: 9pt; padding-left: 1px; padding-right: 1px; padding-top: 1px; text-align: right; vertical-align: bottom; white-space: nowrap;"><span style="line-height: 12.6000003814697px;">4,913</span></td><td class="style131" style="border: 0.5pt solid windowtext; color: black; font-family: Arial, sans-serif; font-size: 9pt; padding-left: 1px; padding-right: 1px; padding-top: 1px; text-align: right; vertical-align: bottom; white-space: nowrap;"><span style="line-height: 12.6000003814697px;">4,738</span></td><td class="style131" style="border: 0.5pt solid windowtext; color: black; font-family: Arial, sans-serif; font-size: 9pt; padding-left: 1px; padding-right: 1px; padding-top: 1px; text-align: right; vertical-align: bottom; white-space: nowrap;"><span style="line-height: 12.6000003814697px;">-3.60%</span></td><td class="style131" style="border: 0.5pt solid windowtext; color: black; font-family: Arial, sans-serif; font-size: 9pt; padding-left: 1px; padding-right: 1px; padding-top: 1px; text-align: right; vertical-align: bottom; white-space: nowrap;"><span style="line-height: 12.6000003814697px;">$410,000</span></td><td class="style131" style="border: 0.5pt solid windowtext; color: black; font-family: Arial, sans-serif; font-size: 9pt; padding-left: 1px; padding-right: 1px; padding-top: 1px; text-align: right; vertical-align: bottom; white-space: nowrap;"><span style="line-height: 12.6000003814697px;">$460,000</span></td><td class="style131" style="border: 0.5pt solid windowtext; color: black; font-family: Arial, sans-serif; font-size: 9pt; padding-left: 1px; padding-right: 1px; padding-top: 1px; text-align: right; vertical-align: bottom; white-space: nowrap;"><span style="line-height: 12.6000003814697px;">12.20%</span></td></tr>
<tr height="19"><td class="style130" height="19" style="border: 0.5pt solid windowtext; color: black; font-family: Arial, sans-serif; font-size: 9pt; height: 14.5pt; padding-left: 1px; padding-right: 1px; padding-top: 1px; vertical-align: bottom; white-space: nowrap;"><span style="line-height: 13.8000001907349px;">Orange</span></td><td class="style131" style="border: 0.5pt solid windowtext; color: black; font-family: Arial, sans-serif; font-size: 9pt; padding-left: 1px; padding-right: 1px; padding-top: 1px; text-align: right; vertical-align: bottom; white-space: nowrap;"><span style="line-height: 12.6000003814697px;">2,205</span></td><td class="style131" style="border: 0.5pt solid windowtext; color: black; font-family: Arial, sans-serif; font-size: 9pt; padding-left: 1px; padding-right: 1px; padding-top: 1px; text-align: right; vertical-align: bottom; white-space: nowrap;"><span style="line-height: 12.6000003814697px;">1,982</span></td><td class="style131" style="border: 0.5pt solid windowtext; color: black; font-family: Arial, sans-serif; font-size: 9pt; padding-left: 1px; padding-right: 1px; padding-top: 1px; text-align: right; vertical-align: bottom; white-space: nowrap;"><span style="line-height: 12.6000003814697px;">-10.10%</span></td><td class="style131" style="border: 0.5pt solid windowtext; color: black; font-family: Arial, sans-serif; font-size: 9pt; padding-left: 1px; padding-right: 1px; padding-top: 1px; text-align: right; vertical-align: bottom; white-space: nowrap;"><span style="line-height: 12.6000003814697px;">$550,000</span></td><td class="style131" style="border: 0.5pt solid windowtext; color: black; font-family: Arial, sans-serif; font-size: 9pt; padding-left: 1px; padding-right: 1px; padding-top: 1px; text-align: right; vertical-align: bottom; white-space: nowrap;"><span style="line-height: 12.6000003814697px;">$562,500</span></td><td class="style131" style="border: 0.5pt solid windowtext; color: black; font-family: Arial, sans-serif; font-size: 9pt; padding-left: 1px; padding-right: 1px; padding-top: 1px; text-align: right; vertical-align: bottom; white-space: nowrap;"><span style="line-height: 12.6000003814697px;">2.30%</span></td></tr>
<tr height="19"><td class="style130" height="19" style="border: 0.5pt solid windowtext; color: black; font-family: Arial, sans-serif; font-size: 9pt; height: 14.5pt; padding-left: 1px; padding-right: 1px; padding-top: 1px; vertical-align: bottom; white-space: nowrap;"><span style="line-height: 13.8000001907349px;">Riverside</span></td><td class="style131" style="border: 0.5pt solid windowtext; color: black; font-family: Arial, sans-serif; font-size: 9pt; padding-left: 1px; padding-right: 1px; padding-top: 1px; text-align: right; vertical-align: bottom; white-space: nowrap;"><span style="line-height: 12.6000003814697px;">2,576</span></td><td class="style131" style="border: 0.5pt solid windowtext; color: black; font-family: Arial, sans-serif; font-size: 9pt; padding-left: 1px; padding-right: 1px; padding-top: 1px; text-align: right; vertical-align: bottom; white-space: nowrap;"><span style="line-height: 12.6000003814697px;">2,323</span></td><td class="style131" style="border: 0.5pt solid windowtext; color: black; font-family: Arial, sans-serif; font-size: 9pt; padding-left: 1px; padding-right: 1px; padding-top: 1px; text-align: right; vertical-align: bottom; white-space: nowrap;"><span style="line-height: 12.6000003814697px;">-9.80%</span></td><td class="style131" style="border: 0.5pt solid windowtext; color: black; font-family: Arial, sans-serif; font-size: 9pt; padding-left: 1px; padding-right: 1px; padding-top: 1px; text-align: right; vertical-align: bottom; white-space: nowrap;"><span style="line-height: 12.6000003814697px;">$277,000</span></td><td class="style131" style="border: 0.5pt solid windowtext; color: black; font-family: Arial, sans-serif; font-size: 9pt; padding-left: 1px; padding-right: 1px; padding-top: 1px; text-align: right; vertical-align: bottom; white-space: nowrap;"><span style="line-height: 12.6000003814697px;">$287,500</span></td><td class="style131" style="border: 0.5pt solid windowtext; color: black; font-family: Arial, sans-serif; font-size: 9pt; padding-left: 1px; padding-right: 1px; padding-top: 1px; text-align: right; vertical-align: bottom; white-space: nowrap;"><span style="line-height: 12.6000003814697px;">3.80%</span></td></tr>
<tr height="19"><td class="style130" height="19" style="border: 0.5pt solid windowtext; color: black; font-family: Arial, sans-serif; font-size: 9pt; height: 14.5pt; padding-left: 1px; padding-right: 1px; padding-top: 1px; vertical-align: bottom; white-space: nowrap;"><span style="line-height: 13.8000001907349px;">San Bernardino</span></td><td class="style131" style="border: 0.5pt solid windowtext; color: black; font-family: Arial, sans-serif; font-size: 9pt; padding-left: 1px; padding-right: 1px; padding-top: 1px; text-align: right; vertical-align: bottom; white-space: nowrap;"><span style="line-height: 12.6000003814697px;">1,910</span></td><td class="style131" style="border: 0.5pt solid windowtext; color: black; font-family: Arial, sans-serif; font-size: 9pt; padding-left: 1px; padding-right: 1px; padding-top: 1px; text-align: right; vertical-align: bottom; white-space: nowrap;"><span style="line-height: 12.6000003814697px;">1,712</span></td><td class="style131" style="border: 0.5pt solid windowtext; color: black; font-family: Arial, sans-serif; font-size: 9pt; padding-left: 1px; padding-right: 1px; padding-top: 1px; text-align: right; vertical-align: bottom; white-space: nowrap;"><span style="line-height: 12.6000003814697px;">-10.40%</span></td><td class="style131" style="border: 0.5pt solid windowtext; color: black; font-family: Arial, sans-serif; font-size: 9pt; padding-left: 1px; padding-right: 1px; padding-top: 1px; text-align: right; vertical-align: bottom; white-space: nowrap;"><span style="line-height: 12.6000003814697px;">$220,000</span></td><td class="style131" style="border: 0.5pt solid windowtext; color: black; font-family: Arial, sans-serif; font-size: 9pt; padding-left: 1px; padding-right: 1px; padding-top: 1px; text-align: right; vertical-align: bottom; white-space: nowrap;"><span style="line-height: 12.6000003814697px;">$236,000</span></td><td class="style131" style="border: 0.5pt solid windowtext; color: black; font-family: Arial, sans-serif; font-size: 9pt; padding-left: 1px; padding-right: 1px; padding-top: 1px; text-align: right; vertical-align: bottom; white-space: nowrap;"><span style="line-height: 12.6000003814697px;">7.30%</span></td></tr>
<tr height="19"><td class="style130" height="19" style="border: 0.5pt solid windowtext; color: black; font-family: Arial, sans-serif; font-size: 9pt; height: 14.5pt; padding-left: 1px; padding-right: 1px; padding-top: 1px; vertical-align: bottom; white-space: nowrap;"><span style="line-height: 13.8000001907349px;">San Diego</span></td><td class="style131" style="border: 0.5pt solid windowtext; color: black; font-family: Arial, sans-serif; font-size: 9pt; padding-left: 1px; padding-right: 1px; padding-top: 1px; text-align: right; vertical-align: bottom; white-space: nowrap;"><span style="line-height: 12.6000003814697px;">2,338</span></td><td class="style131" style="border: 0.5pt solid windowtext; color: black; font-family: Arial, sans-serif; font-size: 9pt; padding-left: 1px; padding-right: 1px; padding-top: 1px; text-align: right; vertical-align: bottom; white-space: nowrap;"><span style="line-height: 12.6000003814697px;">2,233</span></td><td class="style131" style="border: 0.5pt solid windowtext; color: black; font-family: Arial, sans-serif; font-size: 9pt; padding-left: 1px; padding-right: 1px; padding-top: 1px; text-align: right; vertical-align: bottom; white-space: nowrap;"><span style="line-height: 12.6000003814697px;">-4.50%</span></td><td class="style131" style="border: 0.5pt solid windowtext; color: black; font-family: Arial, sans-serif; font-size: 9pt; padding-left: 1px; padding-right: 1px; padding-top: 1px; text-align: right; vertical-align: bottom; white-space: nowrap;"><span style="line-height: 12.6000003814697px;">$405,000</span></td><td class="style131" style="border: 0.5pt solid windowtext; color: black; font-family: Arial, sans-serif; font-size: 9pt; padding-left: 1px; padding-right: 1px; padding-top: 1px; text-align: right; vertical-align: bottom; white-space: nowrap;"><span style="line-height: 12.6000003814697px;">$435,000</span></td><td class="style131" style="border: 0.5pt solid windowtext; color: black; font-family: Arial, sans-serif; font-size: 9pt; padding-left: 1px; padding-right: 1px; padding-top: 1px; text-align: right; vertical-align: bottom; white-space: nowrap;"><span style="line-height: 12.6000003814697px;">7.40%</span></td></tr>
<tr height="19"><td class="style130" height="19" style="border: 0.5pt solid windowtext; color: black; font-family: Arial, sans-serif; font-size: 9pt; height: 14.5pt; padding-left: 1px; padding-right: 1px; padding-top: 1px; vertical-align: bottom; white-space: nowrap;"><span style="line-height: 13.8000001907349px;">Ventura</span></td><td class="style131" style="border: 0.5pt solid windowtext; color: black; font-family: Arial, sans-serif; font-size: 9pt; padding-left: 1px; padding-right: 1px; padding-top: 1px; text-align: right; vertical-align: bottom; white-space: nowrap;"><span style="line-height: 12.6000003814697px;">529</span></td><td class="style131" style="border: 0.5pt solid windowtext; color: black; font-family: Arial, sans-serif; font-size: 9pt; padding-left: 1px; padding-right: 1px; padding-top: 1px; text-align: right; vertical-align: bottom; white-space: nowrap;"><span style="line-height: 12.6000003814697px;">572</span></td><td class="style131" style="border: 0.5pt solid windowtext; color: black; font-family: Arial, sans-serif; font-size: 9pt; padding-left: 1px; padding-right: 1px; padding-top: 1px; text-align: right; vertical-align: bottom; white-space: nowrap;"><span style="line-height: 12.6000003814697px;">8.10%</span></td><td class="style131" style="border: 0.5pt solid windowtext; color: black; font-family: Arial, sans-serif; font-size: 9pt; padding-left: 1px; padding-right: 1px; padding-top: 1px; text-align: right; vertical-align: bottom; white-space: nowrap;"><span style="line-height: 12.6000003814697px;">$445,000</span></td><td class="style131" style="border: 0.5pt solid windowtext; color: black; font-family: Arial, sans-serif; font-size: 9pt; padding-left: 1px; padding-right: 1px; padding-top: 1px; text-align: right; vertical-align: bottom; white-space: nowrap;"><span style="line-height: 12.6000003814697px;">$462,500</span></td><td class="style131" style="border: 0.5pt solid windowtext; color: black; font-family: Arial, sans-serif; font-size: 9pt; padding-left: 1px; padding-right: 1px; padding-top: 1px; text-align: right; vertical-align: bottom; white-space: nowrap;"><span style="line-height: 12.6000003814697px;">3.90%</span></td></tr>
<tr height="19"><td class="style132" height="19" style="border: 0.5pt solid windowtext; color: black; font-family: Arial, sans-serif; font-size: 9pt; font-weight: 700; height: 14.5pt; padding-left: 1px; padding-right: 1px; padding-top: 1px; vertical-align: bottom; white-space: nowrap;"><span style="line-height: 13.8000001907349px;">SoCal</span></td><td class="style133" style="border: 0.5pt solid windowtext; color: black; font-family: Arial, sans-serif; font-size: 9pt; font-weight: 700; padding-left: 1px; padding-right: 1px; padding-top: 1px; text-align: right; vertical-align: bottom; white-space: nowrap;"><span style="line-height: 12.6000003814697px;">14,471</span></td><td class="style133" style="border: 0.5pt solid windowtext; color: black; font-family: Arial, sans-serif; font-size: 9pt; font-weight: 700; padding-left: 1px; padding-right: 1px; padding-top: 1px; text-align: right; vertical-align: bottom; white-space: nowrap;"><span style="line-height: 12.6000003814697px;">13,560</span></td><td class="style133" style="border: 0.5pt solid windowtext; color: black; font-family: Arial, sans-serif; font-size: 9pt; font-weight: 700; padding-left: 1px; padding-right: 1px; padding-top: 1px; text-align: right; vertical-align: bottom; white-space: nowrap;"><span style="line-height: 12.6000003814697px;">-6.30%</span></td><td class="style133" style="border: 0.5pt solid windowtext; color: black; font-family: Arial, sans-serif; font-size: 9pt; font-weight: 700; padding-left: 1px; padding-right: 1px; padding-top: 1px; text-align: right; vertical-align: bottom; white-space: nowrap;"><span style="line-height: 12.6000003814697px;">$380,000</span></td><td class="style133" style="border: 0.5pt solid windowtext; color: black; font-family: Arial, sans-serif; font-size: 9pt; font-weight: 700; padding-left: 1px; padding-right: 1px; padding-top: 1px; text-align: right; vertical-align: bottom; white-space: nowrap;"><span style="line-height: 12.6000003814697px;">$409,000</span></td><td class="style133" style="border: 0.5pt solid windowtext; color: black; font-family: Arial, sans-serif; font-size: 9pt; font-weight: 700; padding-left: 1px; padding-right: 1px; padding-top: 1px; text-align: right; vertical-align: bottom; white-space: nowrap;"><span style="line-height: 12.6000003814697px;">7.60%</span></td></tr>
</tbody></table>
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Source: CoreLogic DataQuick. Data available at DQNews.com<br />
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Los Angeles Real Estatehttp://www.blogger.com/profile/01288756384363618511noreply@blogger.com0tag:blogger.com,1999:blog-3233529465686676583.post-91113700943352895962015-03-11T08:58:00.001-07:002015-03-11T20:49:47.885-07:00Interesting Information how to hold a title<div class="ecxMsoNormal" style="background-color: white; color: #444444; font-family: 'Times New Roman', serif; font-size: 12pt; line-height: 22.7199993133545px; margin-bottom: 1.35em;">
<b style="line-height: 22.7199993133545px;"><u style="line-height: 22.7199993133545px;">Very Interesting Information:</u></b></div>
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Majority of my clients ask me how they should register and keep their title. This is simple explanation about it, but you really want to get legal counsel for that question </div>
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<span style="font-family: Times New Roman, serif;"><span style="font-size: 12pt; line-height: 22.7199993133545px;">When a husband and wife hunt for a home, they consider factors such as the neighborhood, the quality of the school district, curb appeal, or the condition of the house. However, they frequently overlook something else that is perhaps just as important: how they take title to their new home. It's a fact that most married couples choose joint tenancy.</span></span><br />
<span style="font-family: Times New Roman, serif;"><span style="font-size: 12pt; line-height: 22.7199993133545px;"> However, joint tenancy will create future tax liabilities if one of the spouse dies and the property is sold. A married couple can escape this tax liability by simply taking title as Community Property (CP) or Community Property With Right Of </span><span style="line-height: 22.7199993133545px;">Survivorship</span><span style="font-size: 12pt; line-height: 22.7199993133545px;"> (CPWROS). The only time the IRS will forgive you for the capital gains on your home is if you vested title as CP or CPWROS. So you should take advantage of it!</span></span><span style="font-family: 'Times New Roman', serif; font-size: 12pt; line-height: 22.7199993133545px;">In California, most married couples will hold title to their homes in Joint Tenancy because they <b>don't </b>seek legal counsel, they are not well informed, or because someone told them that holding title in joint tenancy escapes probate. However, holding title in joint tenancy escapes probate only after the first spouse's death and creates tax liabilities if the property is sold by the surviving spouse.</span></div>
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<span style="color: black; font-size: 12pt; line-height: 22.7199993133545px;">How is it that joint tenancy creates future unnecessary tax liability?<br />Look at an example. John and Jane, a married couple, bought a home in California for $100,000 in 1980 and in 2015 it is worth $ 1 million dollars. John dies in 2015. Jane sells the property for $1 million dollars following his death. What is Jane's cost basis in computing how much income tax she will owe? The couple originally bought their home for $100,000 and Jane is still alive; therefore, her cost basis is $50,000 or half of the original price. When John dies, Jane receives John's 50% share of the house AND John's stepped up cost basis as well. Because Jane is receiving John's 50% after his death, she is receiving John's stepped up cost basis, which includes half of all the appreciation in the value of the house. When John died, the house was worth $1 million dollars; therefore, John's 50% cost basis would be stepped up to $500,000. When Jane sells the property for $1 million dollars minus her cost basis of $50,000 and John's stepped up basis of $500,000, her taxable proceeds would now be $450,000 ($1,000,000 minus $50,000 minus $500,000 = $450,000). The bottom line here is that in joint tenancy, there is ONLY a 50% or half stepped up in cost basis, whereas if John and Jane held title of their home as CP or CPWROS, then the stepped up tax basis would be 100% and Jane will have to pay ZERO in taxes!</span></div>
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<span style="color: black; font-size: 12pt; line-height: 22.7199993133545px;">Holding title as CP or CPWROS is a good method for paying NO income tax for your surviving spouse in the future. Lets look at the same example. Instead of taking title in joint tenancy to their home, they took title as CP or CPWROS. When John dies the house is worth $1 million dollars. Jane sells the house for $1 million. How much tax does Jane now need to pay? The answer is ZERO tax liability! Why? Because, when Jane sells the house for $1 million dollars, her cost basis is also $1 million dollars. This is because Jane received a 100% or full stepped up cost basis since the home was vested as CP or CPWROS and not held in joint tenancy.</span></div>
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<span style="color: black; font-size: 12pt; line-height: 22.7199993133545px;">Therefore, a husband and wife should strongly consider holding title to their home as CP or CPWROS because after the death of the first spouse, the surviving spouse can sell the house and not pay any taxes on the appreciated value of the home. <br />However, the best method in vesting title is a Living Trust if you have a family.<br /><br />Realtor Jolanta, </span></div>
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Los Angeles Real Estatehttp://www.blogger.com/profile/01288756384363618511noreply@blogger.com2tag:blogger.com,1999:blog-3233529465686676583.post-64378474938441898792014-11-04T09:32:00.002-08:002014-11-04T09:32:54.356-08:00LA Sales Statistic 2014 vs. 2013<div class="separator" style="clear: both; text-align: center;">
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<br />Los Angeles Real Estatehttp://www.blogger.com/profile/01288756384363618511noreply@blogger.com0tag:blogger.com,1999:blog-3233529465686676583.post-10381974071067712412014-04-02T09:33:00.002-07:002014-04-02T09:33:16.960-07:00Good news for buyers!<div style="background-color: white; color: #222222; font-family: 'Trebuchet MS'; font-size: 10.909090995788574px; padding: 0px;">
<span style="font-family: arial, helvetica, sans-serif;"><span style="font-size: 16px;">By Tim Logan <a href="http://click.icptrack.com/icp/relay.php?r=55345255&msgid=441255&act=233K&c=841722&destination=http%3A%2F%2Fwww.latimes.com%2Fbusiness%2Frealestate%2Fla-fi-wall-street-landlords-20140329%2C0%2C2899743.story%3Fpage%3D2" style="color: rgb(0, 0, 255) !important;" target="_blank">LA Times </a>March 29, 2014,</span></span></div>
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<span style="font-family: arial, helvetica, sans-serif;"><span style="font-size: 16px;">This time last year, investment firms raced to buy dozens of single-family homes in neighborhoods from Fontana to South Los Angeles to lease them out, transforming the mom-and-pop rental business into a Wall Street juggernaut.</span></span></div>
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<span style="font-family: arial, helvetica, sans-serif;"><span style="font-size: 16px;">The flood of cash helped spark a steep rise in prices, drawing criticism for pushing families out of the market.</span></span></div>
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<span style="font-family: arial, helvetica, sans-serif;"><span style="font-size: 16px;">But now the firms themselves have all but stopped buying in Southern California, the latest evidence that home prices have hit a ceiling.</span></span></div>
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<span style="font-family: arial, helvetica, sans-serif;"><span style="font-size: 16px;">The professional investors no longer see bargains here.</span></span></div>
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<span style="font-family: arial, helvetica, sans-serif;"><span style="font-size: 16px;">The real estate arm of <a href="http://click.icptrack.com/icp/relay.php?r=55345255&msgid=441255&act=233K&c=841722&destination=http%3A%2F%2Fwww.latimes.com%2Ftopic%2Feconomy-business-finance%2Ffinance%2Fblackstone-group-l.p.-ORCRP002034.topic" style="color: rgb(0, 0, 255) !important;" target="_blank">Blackstone Group</a>, the largest buyer, has cut its California purchases 90% over the last year, a spokesman said. Santa Monica company Colony Capital reports a similar retreat.</span></span></div>
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<span style="font-family: arial, helvetica, sans-serif;"><span style="font-size: 16px;">Oaktree Capital of Los Angeles, meanwhile, is looking to cash out by selling its portfolio of more than 500 homes, many of them in Southern California.</span></span></div>
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<span style="font-family: arial, helvetica, sans-serif;"><span style="font-size: 16px;">The shift is giving regular buyers more homes to choose from, at least those who can still afford them.</span></span></div>
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<span style="font-family: arial, helvetica, sans-serif;"><span style="font-size: 16px;">Experts say an expanding supply should help usher in a healthier housing market, with a better balance between buyers and sellers.</span></span></div>
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<span style="font-family: arial, helvetica, sans-serif;"><span style="font-size: 16px;">That's a stark change from last year, when buyers faced bidding wars.</span></span></div>
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<span style="font-family: arial, helvetica, sans-serif;"><span style="font-size: 16px;">All the activity drove the region's median home price up to $385,000 by last June, a record 28% increase over the same month a year earlier, according to San Diego research firm <a href="http://click.icptrack.com/icp/relay.php?r=55345255&msgid=441255&act=233K&c=841722&destination=http%3A%2F%2Fwww.dataquick.com%2F" style="color: rgb(0, 0, 255) !important;" target="_blank">DataQuick.</a></span></span></div>
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<span style="font-family: arial, helvetica, sans-serif;"><span style="font-size: 16px;">But prices have since been flat in Southern California.</span></span></div>
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<span style="font-family: arial, helvetica, sans-serif;"><span style="font-size: 16px;">Among the 20 firms buying the most California real estate since January 2012, purchases are down more than 70% compared with last year in each of the last four months, according to DataQuick.</span></span></div>
Los Angeles Real Estatehttp://www.blogger.com/profile/01288756384363618511noreply@blogger.com0tag:blogger.com,1999:blog-3233529465686676583.post-52389658607192751422014-02-14T00:32:00.001-08:002014-02-14T00:32:25.039-08:00The sign placement laws change in Los Angeles County!<div class="ecxMsoNormal" style="background-color: white; color: #444444; font-family: 'Times New Roman', serif; font-size: 12pt; line-height: 22.719999313354492px; margin-bottom: 1.35em;">
<span style="color: black; font-family: 'Century Gothic', sans-serif; font-size: 9pt; line-height: 17.040000915527344px;">Due to neighbor complaints and a proliferation of signs, the City of Los Angeles has begun enforcing the sign placement laws already on the books.</span><span style="color: black; font-family: 'Century Gothic', sans-serif; font-size: 9pt; line-height: 17.040000915527344px;"><br />Signs are not allowed in the public right-of-way due to liability issues. However, the City of Los Angeles has casually allowed such placement with written permission of the property owner, and as long as there were no complaints.</span><span style="color: black; font-family: 'Century Gothic', sans-serif; font-size: 9pt; line-height: 17.040000915527344px;"><br />Neighbor complaints have arisen due to the placement of signs in the parkway (area between sidewalk and curb) and due to the number of signs placed advertising one property.</span><span style="color: black; font-family: 'Century Gothic', sans-serif; font-size: 9pt; line-height: 17.040000915527344px;"> </span></div>
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<span style="color: black; font-family: 'Century Gothic', sans-serif; font-size: 9pt; line-height: 17.040000915527344px;">In order to avoid citations and seizure of signs:</span></div>
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<span style="color: black; font-family: 'Century Gothic', sans-serif; font-size: 9pt; line-height: 17.040000915527344px;">* Only place your signs(</span><span style="font-family: 'Century Gothic', sans-serif; font-size: 12px; line-height: 17.040000915527344px;">open house or others)</span><span style="color: black; font-family: 'Century Gothic', sans-serif; font-size: 9pt; line-height: 17.040000915527344px;"> on private property.</span></div>
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<span style="color: black; font-family: 'Century Gothic', sans-serif; font-size: 9pt; line-height: 17.040000915527344px;">* Avoid placing signs in the parkway.</span></div>
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<span style="font-family: Century Gothic, sans-serif;"><span style="font-size: 9pt; line-height: 17.040000915527344px;">* Do not place signs on any public property, including medians, sidewalks, and utility poles( garage sale, lost </span><span style="font-size: 12px; line-height: 17.040000915527344px;">puppies</span><span style="font-size: 9pt; line-height: 17.040000915527344px;">, birthday party...).</span></span></div>
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<span style="color: black; font-family: 'Century Gothic', sans-serif; font-size: 9pt; line-height: 17.040000915527344px;">For a copy of the actual wording from the Los Angeles Municipal Code</span><span style="color: black; font-family: 'Century Gothic', sans-serif; font-size: 9pt; line-height: 17.040000915527344px;"> </span><a href="http://r20.rs6.net/tn.jsp?f=001H_64vOFx8QKQ8Ih82g6YNoG-XRFaqDFCgLJVZeriswYLUBsmdnLkaTvwIejOQ8oR5UnsdoBUPX1KIfuei8Z9JIUa1boRXV9MIm11cgk9g0i2niHNHqGP_eNWnrmhv4ApNQZisuqPUK2QpNLyVT0zZ6Fo712Xbi9gLk0g_MNYBHldgQuyzQ30_eKGr2McXfXkjrMrwlzfVsIAL-IY1V9wAQ==&c=FzSc3y-lzgn8J-3pLpFP2-s4KSu7b5vDOY4o0tgSY-CokTsLW87CSw==&ch=o1yGSTBTgqIEjV3d4tsCYuqq0qgmS8fabP-4TZ2nbgmdMmoPvcGj1w==" style="color: blue; cursor: pointer; font-family: 'Century Gothic', sans-serif; font-size: 9pt; font-weight: inherit; line-height: 17.040000915527344px;" target="_blank">Click Here</a><span style="color: black; font-family: 'Century Gothic', sans-serif; font-size: 9pt; line-height: 17.040000915527344px;">, Section 28.04 & 67.02 pertaining to off-site signage.</span><span style="color: black; font-family: 'Century Gothic', sans-serif; font-size: 9pt; line-height: 17.040000915527344px;"> </span></div>
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Los Angeles Real Estatehttp://www.blogger.com/profile/01288756384363618511noreply@blogger.com1tag:blogger.com,1999:blog-3233529465686676583.post-79460557106516720932014-01-08T18:06:00.000-08:002014-01-08T18:13:05.549-08:00Available First Time Home Buyer Programs in California<div align="center" style="background-color: white; color: #665c49; font-family: Arial, Helvetica, sans-serif; font-size: 12px;">
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<span style="font-size: 12pt;"><u><span style="background-color: yellow; color: red; font-size: 11pt;"><strong><a href="http://houseyoucanafford.com/home-loan-approval-process/first-time-homebuyers-can-get-calplus-loan/">CalPlus with Zero Interest Program </a></strong></span></u><span style="color: #333333; font-size: 11pt;">: </span><span style="color: #333333; font-size: 11pt;">This is a FHA loan with an exclusive down payment assistance program "ZIP" which offers to qualified buyers 3.5% for their down payment. The ZIP program defers your payment with a zero interest second mortgage that is only available with <a href="http://browse.feedreader.com/c/Inland_Empire_Direct_Mortgage_Lender_FHA_VA_USDA_HARP_2_Home_Loans/572930715"></a><a href="http://houseyoucanafford.com/home-loan-approval-process/first-time-homebuyers-can-get-calplus-loan/"></a><a href="http://browse.feedreader.com/c/Inland_Empire_Direct_Mortgage_Lender_FHA_VA_USDA_HARP_2_Home_Loans/572930715">CalPlus First mortgage</a>.</span> </span></div>
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<span style="font-size: 12pt;"><span style="font-size: 12pt;"><u><span style="background-color: yellow; color: red; font-size: 11pt;"></span></u><u><span style="background-color: yellow; color: red; font-size: 11pt;"><strong><a href="http://houseyoucanafford.com/home-loan-approval-process/ectp-program-gives-teachers-extra-credit/">ECTP Program</a></strong></span></u><a href="http://houseyoucanafford.com/home-loan-approval-process/ectp-program-gives-teachers-extra-credit/"><span style="color: #333333; font-size: 11pt;"></span></a><span style="color: #333333; font-size: 11pt;">: The"<a href="http://houseyoucanafford.com/home-loan-approval-process/ectp-program-gives-teachers-extra-credit/"> Extra Credit Teacher Home Purchase Program</a>" is a deferred payment subordinate loan with simple interest charged. Qualified teachers can use this for down payment assistance with eligible CalHFA first Mortgage loan.</span></span></span></div>
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<span style="font-size: 12pt;"><u><span style="background-color: yellow; color: red; font-size: 11pt;"><strong><a href="http://www.chfloan.org/Programs/ACCESS/CHF_ACCESS.html">CHF ACCESS Homebuyer Program</a><span style="font-size: 8pt;"></span></strong></span></u><span style="color: #333333; font-size: 11pt;">: Put less than 1% down. With the <a href="http://www.chfloan.org/Programs/ACCESS/CHF_ACCESS.html">Program</a>, it may be possible to finance up to 99.5% of a home's purchase price.</span></span></div>
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<span style="background-color: yellow; color: red; font-size: 11pt;"><strong><u><a href="http://houseyoucanafford.com/home-loan-programs/schfa-competitive-rate-mortgages-for-first-time-homeowners-in-los-angeles-and-orange-county/">Southern California Home Finance Authority (SCHFA)</a></u></strong></span><span style="color: #333333; font-size: 11pt;">: <a href="http://houseyoucanafford.com/home-loan-programs/schfa-competitive-rate-mortgages-for-first-time-homeowners-in-los-angeles-and-orange-county/">SCHFA</a> offers a 4% down payment and closing cost assistance program which comes in the form of a grant and does not have to be paid back.</span></div>
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<span style="font-size: 12pt;"><u><span style="background-color: yellow; color: red; font-size: 11pt;"><strong><a href="http://www.calhfa.ca.gov/homebuyer/programs/chdap.htm">California Housing Down Payment Assistance (CHDAP)</a></strong></span></u><span style="color: #333333; font-size: 11pt;">: <a href="http://www.calhfa.ca.gov/homebuyer/programs/chdap.htm">CHDAP</a> offers a 3% down payment or closing costs assistance with deferred payments.</span><span style="font-size: 12pt;"></span></span></div>
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<span style="background-color: yellow; color: red; font-size: 11pt;"><strong><u></u></strong></span><span style="background-color: yellow; color: red; font-size: 11pt;"><strong><u>CHF Platinum Home Buyer Program Down Payment Assistance </u></strong></span><span style="color: #333333; font-size: 11pt;">: This program is not limited to first time home buyers and is a grant of 3, 4 or up to 5% which can be used towards your down payment and/or closing cost. This is a forgivable grant and not a second mortgage.</span></div>
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<span style="font-size: 11pt;"><span style="font-size: 12pt;"><span style="color: #333333; font-size: 11pt;"><strong></strong></span><span style="background-color: yellow; color: red; font-size: 11pt;"><strong><u><a href="http://houseyoucanafford.com/home-loan-approval-process/mcc-tax-credit-first-time-homebuyer/">Mortgage Credit Certificate Program(MCC) </a></u></strong></span><span style="color: #333333; font-size: 11pt;">: The <a href="http://houseyoucanafford.com/home-loan-approval-process/mcc-tax-credit-first-time-homebuyer/">MCC Program</a> offers First Time Home Buyers a yearly tax credit for as long as you own your home and carry a mortgage. This credit is for 15% of your annual mortgage interest. Using this program allows you to qualify for a higher purchase price.</span></span></span></div>
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<span style="font-size: 12pt;"><u><span style="background-color: yellow; color: red; font-size: 11pt;"><strong>CalSTRS Program </strong></span></u><span style="color: #333333; font-size: 11pt;">: Originally expected to roll out in September the program is still on hold so come back to discover its status.</span></span></div>
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<span style="font-size: 12pt;"></span><span style="background-color: yellow; color: red; font-size: 11pt;"><strong><u>***</u></strong></span><span style="background-color: yellow; color: red; font-size: 11pt;"><strong><u> FHA UPDATE*** </u></strong></span><span style="color: #333333; font-size: 11pt;">: You can now purchase a home if you have only recently reached your one anniversary of having filed a Bankruptcy or having sold your home as a Short Sale or if you lost your home to a Foreclosure. Your FICO score can be as low as 500!</span><br />
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<span style="background-color: white; color: #333333; font-family: Arial, Helvetica, sans-serif; font-size: 11pt;">For any real estate questions please call or text message me at: </span><strong style="background-color: white; color: #665c49; font-family: Arial, Helvetica, sans-serif; font-size: 16px;"><span style="color: red; font-size: 11pt;">(323) 316-3300</span></strong></div>
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Los Angeles Real Estatehttp://www.blogger.com/profile/01288756384363618511noreply@blogger.com0tag:blogger.com,1999:blog-3233529465686676583.post-67879948373552016952013-07-25T22:03:00.001-07:002013-07-25T22:03:33.607-07:00Short Sale after 8-1-13<div class="MsoNormal" style="line-height: 19.5pt; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto;">
<span style="color: #333333; font-family: Georgia, serif;"> "Many homeowners who are potential Short Sale candidates have
been holding on and trying to work out a loan modification with their bank or
reinstate their loan.<o:p></o:p></span></div>
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<span style="color: #333333; font-family: Georgia, serif;"> Unfortunately, as well-intended as this is, it is <i>working
against</i> many homeowners in this current appreciating market. The
banks and mortgage servicers know that even if they incur the costs of
foreclosure (one of the biggest motivators for them to approve a Short Sale),
that in an appreciating market, time is on their side and they can offset
attorney fees, property rehab, etc. when the property value increases. <o:p></o:p></span></div>
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<span style="color: #333333; font-family: Georgia, serif;"> One of the more frustrating initiatives of Fannie Mae in
particular is their stated position of countering all offers on Short Sales at
10-15% over market value. Well, obviously this guarantees an appraisal
issue even <i>if</i> they can find a buyer willing to overpay for the
property. <o:p></o:p></span></div>
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<span style="color: #333333; font-family: Georgia, serif;"> If the Short Sale is not approved, then Fannie Mae in this case
repo’s the property and sells it as an REO (foreclosure). They are
consistently overpricing the REO’s congruent with their approach when the
property was a Short Sale, but, oh by the way, once it’s an REO, any buyer can
purchase it with Fannie Mae Homepath financing… and guess what, there is no
appraisal condition!! See the strategy here?<o:p></o:p></span></div>
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<span style="color: #333333; font-family: Georgia, serif;"> Specific changes got into effect on 8-1-13.<o:p></o:p></span></div>
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<span style="color: #333333; font-family: Georgia, serif;"><span style="line-height: 19.5pt;"> On it’s
face, the specifics of the release (that apply to agents and homeowners – many
of the changes apply to the </span><span style="line-height: 26px;">services</span><span style="line-height: 19.5pt;"> are simple enough: properties must stay
on the market for 5 days + a weekend before Fannie or Freddie will consider a Short
Sale. The implications however are that Fannie and Freddie are continuing
to demand sale prices that are unrealistically higher than market value
(10-15%), thus the additional marketing requirement.<o:p></o:p></span></span></div>
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<span style="color: #333333; font-family: Georgia, serif;"> On a
positive note, they have further streamlined the approval process, so if they
are going to approve, the process will be a little less “painful.” <o:p></o:p></span></div>
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<span style="color: #333333; font-family: Georgia, serif;">The
purpose of all this is to:</span><span style="color: #333333; font-family: Georgia, serif; line-height: 19.5pt;"> </span></div>
<div class="MsoNormal" style="line-height: 19.5pt; margin-bottom: .0001pt; margin-bottom: 0in;">
<span style="color: #333333; font-family: Georgia, serif;">1.
Quickly evaluate which sale type Fannie and Freddie will profit from more: Short
Sale or Foreclosure;<o:p></o:p></span></div>
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<span style="color: #333333; font-family: Georgia, serif;">2. Clear
the properties they are not going to approve so they can
focus on getting the highest dollar amount on the properties they will approve.<o:p></o:p></span></div>
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<span style="color: #333333; font-family: Georgia, serif;">The
bottom line to all of this is: if you are in a position where you think you may
have to Short Sale, give me a call so you can proactively decide what your next
steps are. Time is winding down on the non-taxability of forgiven debt
(was extended to 12-31-13), and banks and servicers are doing all they can to
take advantage of the appreciating market… which many times spells foreclosure
for the homeowner."<o:p></o:p></span></div>
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Los Angeles Real Estatehttp://www.blogger.com/profile/01288756384363618511noreply@blogger.com0tag:blogger.com,1999:blog-3233529465686676583.post-54889504394476877192013-03-08T00:10:00.001-08:002013-03-08T00:10:07.493-08:00LA Sales Statistic 2012 vs. 2011<div class="separator" style="clear: both; text-align: center;">
<a href="http://1.bp.blogspot.com/-4_ZsNkw_XYk/UTmbklox4dI/AAAAAAAABcM/q4IfCvy-gzc/s1600/Sales+statistic.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="548" src="http://1.bp.blogspot.com/-4_ZsNkw_XYk/UTmbklox4dI/AAAAAAAABcM/q4IfCvy-gzc/s640/Sales+statistic.jpg" width="620" /></a></div>
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Original one please follow this link:<br /><a href="http://forms.themls.com/forms/la_times_news/03_03_13_LA_Times_Article.pdf">http://forms.themls.com/forms/la_times_news/03_03_13_LA_Times_Article.pdf</a>Los Angeles Real Estatehttp://www.blogger.com/profile/01288756384363618511noreply@blogger.com0tag:blogger.com,1999:blog-3233529465686676583.post-12032101991924923362012-02-01T22:42:00.000-08:002012-02-01T22:42:04.194-08:00LA Sales Statistics<div style="text-align: justify;"><span style="font-family: Georgia, 'Times New Roman', serif;"><b>Single- Family Homes/ Market Map/ Sales Volume 2011 vs. 2010<br />
</b></span></div><div class="separator" style="clear: both; text-align: center;"><a href="http://4.bp.blogspot.com/-D0mxuPnbrrQ/Tyov37vaA4I/AAAAAAAABZg/Rsgxb9ZvwTI/s1600/Stat.jpg" imageanchor="1" style="clear: left; float: left; margin-bottom: 1em; margin-right: 1em;"><img border="0" height="520" src="http://4.bp.blogspot.com/-D0mxuPnbrrQ/Tyov37vaA4I/AAAAAAAABZg/Rsgxb9ZvwTI/s640/Stat.jpg" width="638" /></a></div><div class="separator" style="clear: both; text-align: left;"><br />
</div>Los Angeles Real Estatehttp://www.blogger.com/profile/01288756384363618511noreply@blogger.com1tag:blogger.com,1999:blog-3233529465686676583.post-49766349337082109862012-02-01T21:12:00.001-08:002012-02-01T21:12:10.748-08:00CA foreclosure activity<span style="font-family: Arial, Helvetica, sans-serif;">As both jobs and home sales remained scarce, 34% of all California home resale activity in the fourth quarter of 2011 was attributed to real estate owned (REO) inventory — approximately the same as in the prior quarter and down from an even higher 38% one year earlier. <br />
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<div class="separator" style="clear: both; text-align: center;"><a href="http://1.bp.blogspot.com/-njuxi4UdqeA/TyoT1TMv9pI/AAAAAAAABYw/12vAHss4Zj0/s1600/REO-Chart.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><span style="font-family: Arial, Helvetica, sans-serif;"><img border="0" height="200" src="http://1.bp.blogspot.com/-njuxi4UdqeA/TyoT1TMv9pI/AAAAAAAABYw/12vAHss4Zj0/s320/REO-Chart.jpg" width="500" /></span></a></div><span style="font-family: Arial, Helvetica, sans-serif;">The above chart tracks the number of California residential properties resold quarterly by lenders who acquire ownership by foreclosure. These properties are also commonly called “Real Estate Owned” properties (REOs).<br />
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61,517 notices of default (NODs) were recorded in California in the fourth quarter of 2011, down from 69,799 one year earlier. The largest numerical drops in NODs issued took place in the counties of Riverside (-871), San Bernardino (-917), Los Angeles (-1,833) and Alameda (-543). <br />
</span><div class="separator" style="clear: both; text-align: center;"><a href="http://3.bp.blogspot.com/-X_13OOckr7M/TyoUsqpY3cI/AAAAAAAABY8/vQ0n9FZkoBM/s1600/NOD-Quarterly.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><span style="font-family: Arial, Helvetica, sans-serif;"><img border="0" height="200" src="http://3.bp.blogspot.com/-X_13OOckr7M/TyoUsqpY3cI/AAAAAAAABY8/vQ0n9FZkoBM/s320/NOD-Quarterly.jpg" width="500" /></span></a></div><span style="font-family: Arial, Helvetica, sans-serif;"><br />
</span><div class="separator" style="clear: both; text-align: center;"><a href="http://3.bp.blogspot.com/-j9HvggbwHAk/TyoVI7Tfx3I/AAAAAAAABZI/8i_M4gbg-kM/s1600/NOD-Pct-to-Sale.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><span style="font-family: Arial, Helvetica, sans-serif;"><img border="0" height="200" src="http://3.bp.blogspot.com/-j9HvggbwHAk/TyoVI7Tfx3I/AAAAAAAABZI/8i_M4gbg-kM/s320/NOD-Pct-to-Sale.jpg" width="500" /></span></a></div><span style="font-family: Arial, Helvetica, sans-serif;"><br />
These charts track the number of Notices of Default (NODs) and trustee’s deeds (TDs) recorded quarterly in California from 1994 to the present, along with the estimated percentage of NODs that have actually gone to foreclosure quarterly over the last four years.<br />
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Recording an NOD is the lender’s first step in the foreclosure process; the recorded trustee’s deed is the final step, at which point the property is placed in the Multiple Listing Service (MLS) as a real estate owned property (REO). The entire process takes place over a period of approximately four to five months, although this time period has recently been extended by government interference at both state and federal levels. As a consequence of this interference (designed to postpone NOD recordings and reduce trustee’s sales and evictions) we will not know the full impact of recent NODs on the total percentage of NODs which go to a trustee’s sale (and thus become REOs) until 2013.<br />
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Trustee’s sales took 31,260 homes in the fourth quarter of 2011. This is down 20% from 38,895 in the third quarter, and 12% lower than the 35,431 home foreclosure sales one year earlier. The drop is a positive sign for stabilizing the real estate market, although the still-high level of NODs suggests that many more foreclosures are still to come, and will continue for several years.<br />
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Low-tier neighborhoods continue to see the highest concentration of both NODs and foreclosure sales, with fourth quarter foreclosures of six homes for every 1,000 in ZIP codes with prices lower than $200,000. In ZIP codes with prices above $800,000, only 0.7 NODs were recorded per 1,000 homes, evidence of significant inequality in debt and employment between income tiers. <br />
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It now takes an average of ten months following the recording of the NOD to complete a trustee’s foreclosure sale in California. One year earlier, foreclosure proceedings averaged nine months in duration. The extended processing time is seen as a product of lender backlogs, the pursuit of loan modifications and shortsale approvals to circumvent foreclosure, as reported by Dataquick.<br />
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An estimated 30% of homes sold at trustee’s sales were bought by individuals other than the lender or government groups — up from 22% last year. This third-party high-bidder situation indicates speculators remain optimistic about future resale pricing.<br />
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Two quarters do not a trend make. The fourth quarter of 2011 marked a second three-month drop in foreclosures, but it is still much too early to determine whether these declines will be enough to put a stop to the bumpy plateau California has experienced since 2008 in this jobless Lesser Depression. The still-high number of NODs is evidence of more foreclosures to come (about 60% will go to trustee’s sale), as lenders make good on their promise earlier this year to increase foreclosure efficiency and clear out some of the massive backlog of serious delinquencies.<br />
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Foreclosures are sure to continue at or near their current high rate, since home prices will not rise significantly for several years and a large percentage of the 2,500,000 negative equity homeowners in California, both with and without jobs, will eventually become frustrated and default. Negative equity properties are damaging to society and must be promptly cleared out by lenders or owners in order to put an end to the drag they create for the economy— a process not likely to be concluded until roughly 2015-2016. In the meantime, lenders will work through the obscure shadow inventory of mortgaged homes backlogged as delinquent and in need of foreclosure. <br />
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To get the California economy recovering and restore strength and stability to the real estate market, it is imperative lenders quickly clear out the delinquencies on their books, either by repairing those defective loans with cramdowns for employed owners or, more brutally, by foreclosing.<br />
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“<a href="http://www.dqnews.com/Articles/2012/News/California/CA-Foreclosures/RRFor120124.aspx">California foreclosure activity drops</a>,” from Dataquick</span><strike></strike><strike style="font-weight: bold; text-decoration: line-through;"><strike></strike></strike>Los Angeles Real Estatehttp://www.blogger.com/profile/01288756384363618511noreply@blogger.com0tag:blogger.com,1999:blog-3233529465686676583.post-20342391329521667092011-08-03T14:40:00.000-07:002011-08-04T23:59:22.188-07:00Loan Modification to Avoid Foreclosure<h1 align="center" style="font-family: Georgia, 'Times New Roman', serif; font-size: 30px; line-height: 32px; margin-bottom: 5px; margin-left: 0px; margin-right: 0px; margin-top: 5px;"><span class="Apple-style-span" style="font-family: Arial, Verdana, sans-serif; font-size: 16px; font-weight: normal; line-height: 20px;"><embed allowfullscreen="true" allowscriptaccess="always" height="385" src="http://www.youtube.com/v/WSyB_J0vNqw?fs=1&hl=en_US" type="application/x-shockwave-flash" width="620"></embed></span></h1><div class="centerbold" style="text-align: center;"><div style="text-align: left;"><div style="text-align: justify;"><span class="Apple-style-span" style="font-family: Georgia, 'Times New Roman', serif;"><br />
</span></div></div></div><iframe frameborder="0" height="1252" marginheight="0" marginwidth="0" src="https://spreadsheets.google.com/spreadsheet/embeddedform?formkey=dGJLTFNITXl5TFh4VUNaenJGY05TeGc6MQ" width="630">&amp;lt;p&amp;gt;&amp;amp;amp;amp;amp;lt;p&amp;amp;amp;amp;amp;gt;&amp;amp;amp;amp;amp;amp;amp;amp;amp;lt;p&amp;amp;amp;amp;amp;amp;amp;amp;amp;gt;&amp;amp;amp;amp;amp;amp;amp;amp;amp;amp;amp;amp;amp;lt;p&amp;amp;amp;amp;amp;amp;amp;amp;amp;amp;amp;amp;amp;gt;Loading...&amp;amp;amp;amp;amp;amp;amp;amp;amp;amp;amp;amp;amp;lt;/p&amp;amp;amp;amp;amp;amp;amp;amp;amp;amp;amp;amp;amp;gt;&amp;amp;amp;amp;amp;amp;amp;amp;amp;lt;/p&amp;amp;amp;amp;amp;amp;amp;amp;amp;gt;&amp;amp;amp;amp;amp;lt;/p&amp;amp;amp;amp;amp;gt;&amp;lt;/p&amp;gt;</iframe>Los Angeles Real Estatehttp://www.blogger.com/profile/01288756384363618511noreply@blogger.comtag:blogger.com,1999:blog-3233529465686676583.post-11683279357141641202011-06-02T22:05:00.000-07:002011-06-03T12:05:44.973-07:009 Options Facing Foreclosure<div class="separator" style="clear: both; text-align: left;"><a href="http://3.bp.blogspot.com/-umHPStYnuxA/TehuR0rlnRI/AAAAAAAAA1g/hX7RdOnkmvw/s1600/Options+Facing+Foreclosure.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"></a> <i><span style="color: black; font-family: "Georgia","serif"; font-size: 9pt; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman"; mso-themecolor: text1;">If you’re facing foreclosure, then you are probably under stress. You don’t know what is going to happen. How long will it take before the bank kicks us out on the street? Will I owe my lender any? Will I ever get my life back? That’s why I put this blog together. You need to know what your options are. So, let’s go thru them here.<o:p></o:p></span></i></div><div class="separator" style="clear: both; text-align: left;"> </div><div class="MsoNormal" style="background: white; line-height: 15pt; margin: 0in 0in 10pt; mso-background-themecolor: background1; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto; text-align: left;"><b><i><span style="color: black; font-family: "Georgia","serif"; font-size: 9pt; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman"; mso-themecolor: text1;">Option #1: Do nothing </span></i></b><i><span style="color: black; font-family: "Georgia","serif"; font-size: 9pt; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman"; mso-themecolor: text1;">and the lender forecloses on the house. Your credit report will show this damaging information for years to come. Please be aware that the foreclosure process can take some time. I’ve seen it take some lenders up to a year to foreclose on a house. Some banks have better and faster process and can get a foreclosure done in 3-4 months. This is certainly not the best option!<br />
<b>Option #2: Deed-In-Lieu of Foreclosure.</b> A “Deed-in-Lieu” is disposition option in which you voluntarily deed your home to the lender in exchange for a release from all obligations under the mortgage. It has certain eligibility requirements and may not be accepted from homeowners who can financially make their mortgage payments. What benefit does it give you? None. Do not consider this option unless the lender gives you something in return<br />
<b>Option #3: Loan Modification</b> to reduce your mortgage payment. If you want to keep your home, then it is a good option. Many lenders will reduce your interest rate, or extend the term of the loan. To qualify, you often have to send your lender all of your pay stubs, bank statements, and other financial documentation. If you need loan modification kit, let me know.<br />
<b>Option #4: Reinstatement. </b>This is when you pay the lender entire default amount plus interest, attorney’s fees, late fees, taxes. After that you start making normal monthly payments. This restores your account to its former current status. The only problem is that it requires you to come up with all the back payments and other fees.<br />
<b>Option #5: Payoff or Refinance</b> is completely pay off your old loan plus any default amount and fees. However, the new loan may have a higher interest rate and there may be a pre-payment penalty because of the recent default, plus your credit history and score. If you owe more than your home is worth, then it will be impossible to find a lender willing to pay everyone off. This is a good option if you still have equity in your home.<br />
<b>Option #6: </b></span></i><b><i style="mso-bidi-font-style: normal;"><span style="font-family: "Georgia","serif"; font-size: 9pt;">Forbearance</span></i></b><i style="mso-bidi-font-style: normal;"><span style="font-family: "Georgia","serif"; font-size: 9pt;"> is an agreement made between you and your bank in which your bank agrees not to exercise its legal right to foreclose on your home and in which you agree to a payment plan that will bring you loan current over a certain short time period. Information will be required from your bank to show that you are able to meet the new payment plan requirements.</span></i><i><span style="color: black; font-family: "Georgia","serif"; font-size: 9pt; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman"; mso-themecolor: text1;"><br />
<b>Option #7: Rent the property.</b> This is a good way to earn some extra money. However, many mortgages are written with legal clauses that force you to forward any rent proceeds to the lender. In addition, governments have recently written laws forbidding you form renting a property unless the mortgage is current.<br />
<b>Option #8: Bankruptcy</b><span style="mso-bidi-font-weight: bold;"> is an option that can liquidate debt and/ or allow some time to stay in your home</span> This could be a great option for a fresh start. There are several types of bankruptcy and you would need to consult a qualified Bankruptcy attorney for more information…<br />
Chapter 7- [Liquidation]: Completely settles personal debt.<br />
Chapter 13- [Wage Earner Plan]: Payments are made toward a plan to pay off debts in 3-5 years. Many people find themselves stuck under the same burden of debt that caused the problem in the first place. Only this time, they have to pay all the extra costs associated with the bankruptcy. <br />
Chapter 11- [Business Reorganization]: A business debt solution.<br />
<b>Option #9: Sale.</b> <br />
</span></i><b><i style="mso-bidi-font-style: normal;"><span style="font-family: "Georgia","serif"; font-size: 9pt;">Sell with Equity: </span></i></b><i style="mso-bidi-font-style: normal;"><span style="font-family: "Georgia","serif"; font-size: 9pt;">If your home has equity (money left over after all loans and monetary encumbrances are paid), you may sell your home without lender approval through a conventional home sale. In this case, you could get cash from the sale proceeds.</span></i><i><span style="color: black; font-family: "Georgia","serif"; font-size: 9pt; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman"; mso-themecolor: text1;"><br />
<span style="mso-spacerun: yes;"> </span><b>Short Sale. </b>If you can’t afford your house anymore or your property value is upside down, then this is a good option to consider. A short sale is when you owe more than your home is worth. You sell it with the assistance of a licensed real estate agent. It costs you nothing. The agent gets paid by your lender. It is well known that a lender will net more money on a short sale than taking a home back thru foreclosure. Why? A lender saves money on interest, attorney fees, and other related foreclosure costs.</span></i></div><div class="Default" style="margin: 0in 0in 0pt; text-align: left;"><i><span style="color: black; font-family: "Georgia","serif"; font-size: 9pt; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman"; mso-themecolor: text1;">If you have any specific questions or need help to evaluate your situation to see which options you qualify for and which one will most benefit you and your family give me a call at (323) 316-3300. Remember I’m here to help you in any way that I can.</span></i><span style="color: black; font-size: 9pt; mso-themecolor: text1;"><o:p><span style="font-family: Calibri;"> </span></o:p></span></div><div class="separator" style="clear: both; text-align: left;"> </div>Los Angeles Real Estatehttp://www.blogger.com/profile/01288756384363618511noreply@blogger.com0tag:blogger.com,1999:blog-3233529465686676583.post-2598408897770341072011-05-18T21:16:00.000-07:002011-05-18T21:16:40.047-07:00Foreclosure or Short Sale<div class="separator" style="clear: both; text-align: center;"><a href="http://4.bp.blogspot.com/-QoY2G-G5eQc/TdSZGgQQdBI/AAAAAAAAA1Q/9NEA6FmiGC4/s1600/Foreclosure++vs+Short+Sale.jpg" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="640" src="http://4.bp.blogspot.com/-QoY2G-G5eQc/TdSZGgQQdBI/AAAAAAAAA1Q/9NEA6FmiGC4/s640/Foreclosure++vs+Short+Sale.jpg" width="582" /></a></div>Los Angeles Real Estatehttp://www.blogger.com/profile/01288756384363618511noreply@blogger.com1tag:blogger.com,1999:blog-3233529465686676583.post-33805328440374214922011-05-16T22:48:00.000-07:002011-11-25T16:39:18.511-08:00Home values continue to declineSan Francisco, Los Angeles and San Diego are included in the nation’s top ten metropolitan areas with the biggest drop in home values since the Great Recession. The latest Standard & Poor/Case-Shiller Home Price Index indicates the composite price of single family residences (SFRs) in the ten cities decreased 2.7% last year. Their composite values are now 30% below levels from the housing market’s peak in April 2006. Worse, no sign exists that price levels will rise soon.<div lang="en-US">California price levels in 2010 decreased near 2% for Los Angeles. Prices dropped month on month 0.6% in Los Angeles in the month from December 2010 to January 2011.</div><div lang="en-US">Prices<em> </em>continue to slip downwards toward their true dollar value and the illusions of past are honored at one’s peril. The current price decline we are witnessing was fully expected to follow the premature home purchases induced by government subsidies in 2009 to mid-2010 ― by its end the public was not buying homes on their own volition. Market momentum of the artificially-inflated home prices built up and culminating with the housing price peak in 2006 was ill-fated to collapse, forcing home prices to return to historical trend levels. The continual drop in prices is a result of the real estate market correcting itself as property prices stabilize at their lower and more accurate evaluation. A reversal of the current decline in consumer confidence would be helpful.</div><div lang="en-US">The price adjustment will likely run into 2013 and our relatively jobless recovery underway will not make it quicker. When the California economy does begin to produce 400,000 plus additional jobs annually in California, it is imperative for real estate brokers and agents to steer the thinking of buyers and sellers away from the illusory sticky price<strong> </strong>of Boom years past. Until these jobs are created and this advice is taken, the housing market will simply not get up and start running.<br />
p.s. If you want to find out your property value, simply click on the top right side <a href="http://fs17.formsite.com/realtorjolanta/form1/index.html?1304565005038">link</a> </div>Los Angeles Real Estatehttp://www.blogger.com/profile/01288756384363618511noreply@blogger.com0tag:blogger.com,1999:blog-3233529465686676583.post-28300871153891966372011-05-13T10:28:00.000-07:002011-05-13T10:40:08.886-07:00April Statistics<div class="separator" style="clear: both; text-align: center;"><a href="http://3.bp.blogspot.com/-punPRMOQ9hA/Tc1p0qiF0XI/AAAAAAAAA1E/0kGhqOhZif8/s1600/Untitled.png" imageanchor="1" style="margin-left: 1em; margin-right: 1em;"><img border="0" height="460" src="http://3.bp.blogspot.com/-punPRMOQ9hA/Tc1p0qiF0XI/AAAAAAAAA1E/0kGhqOhZif8/s640/Untitled.png" width="640" /></a></div><div style="text-align: left;"></div>Los Angeles Real Estatehttp://www.blogger.com/profile/01288756384363618511noreply@blogger.com0tag:blogger.com,1999:blog-3233529465686676583.post-30605612986197419812011-05-13T10:23:00.000-07:002011-05-13T10:23:48.275-07:002011 Home Sales Volume (March)36,417 new and resale homes closed escrow in California during March 2011, down 2.4% from one year ago when 37,295 sales closed escrow. Single family residence (SFR) sales volume broke its recent downward trend. The Bay Area recorded its highest number of March home sales since 2007.<br />
Real estate owned (REO) resales accounted for an estimated 38% of all resales in the fourth quarter 2010— up from 37% one year earlier. <br />
Absentee homebuyers (a group generally composed of speculators and investors) accounted for 26% of Southern California (SoCal) resales (near the historic record of 26.4% set in February 2011) and 22% in the Bay Area. “Jumbo loans” (here represented by all loans of over $417,000) accounted for 16% of sales in SoCal, unchanged from last year, and 30% of Bay Area sales, slipping slightly from 31% last year. 2010 saw a sharp rise in the use of Jumbo loans, likely attributable to an increase in foreclosures among high-tier properties, but Jumbo use remains far below its height in the boom times of 2006 and 2007.<br />
Federal Housing Administration (FHA)-insured loans represented 32% of SoCal mortgages recorded in March 2011, down from 37% one year earlier, and at the lowest level since August 2008. FHA-insured loans made up 22% of Bay Area mortgages recorded, a slight fall from 24%, recorded one year earlier. The current proportion of FHA-insured loans remains abnormally high by historical standards, although it has dropped in recent months. This downward trend will continue in the future, as other government agencies and private mortgage insurers (PMIs) are now guaranteeing almost all conventional loans, including loans with lower down payments and down payments from unconventional sources (such as gifts).<br />
Adjustable rate mortgages (ARMs) made up 8% of all SoCal mortgages, relatively unchanged from last month, but up significantly from last year’s level of 5%. ARM use in the Bay Area has increased even more dramatically in recent months, rising from 9% one year ago to a current 14%. ARMs peaked across California in May 2010, and any drop in ARMs is a good indicator the market volume and pricing will not increase over the next 12 to 24 months. The increase in the use of ARMs in the Bay Area is to be watched, as any increase over the next six months will very likely artificially sustain or push prices of high-tier homes upward excessively. <br />
Cash purchases represented 31% of SoCal and 28% of Bay Area sales in March 2011. Although these numbers are down slightly from February 2011’s record high, they remain abnormally high in both districts, indicating speculators are still at work, probably flipping under land sales contracts or let-to-buy arrangements called <em>lease-option sales,</em> which go unrecorded. These transactions remain, for the most part, invisible to the public. The recent spike in cash purchases indicates that speculators are once again optimistic about a potential recovery in real estate sales and pricing, but both have shown only torpid growth thus far.Los Angeles Real Estatehttp://www.blogger.com/profile/01288756384363618511noreply@blogger.com0