NoHo Condo priced UNDER $200,000!

Top Floor Unit in The Bakman Towers Condominiums located in the Trendy No Ho Arts District Of North Hollywood. Close to Theatres, Studios, Metro Red/Orange Line, and Great Restaurants. Open Floor Plan, Vaulted Ceilings, Fireplace and Hardwood Floors in Living Dining Areas. Good Sized Balcony off Living Room. Unit is Light and Bright. Community with Pool, Spa, BBQs, Rec Room and Gym. Unit has 2 assigned covered subterranean parking spaces. Low HOAs includes Earth Quake Insurance. Studios Close!
                                                             1 Bedroom 1 Bath
                                                        Offered At: $199,000
                                               For More Info call 818-388-2743

                                                                       

Heather Farquhar
Keller Williams Realty
BRE# 01010047
Heather@HeatherHouseHunter.com
http://HeatherHouseHunter.com 

Valuable Website For Valley Village Home Owners

Check out this new website and find out what your Valley Village Home Is Worth. Loads of easy to understand data, the same data used by Realtors and Appraisers to determine the market value of a home. To find out the value of your Valley Village home visit http://WhatsMyValleyVillageHomeWorth.com

What's My Toluca Lake Home Worth?

This website is a great place to answer that question. http://www.WhatsMyTolucaLakeHomeWorth.com helps Toluca Lake sellers and buyers better understand home values in the Toluca Lake area. Compare homes by using the "Market Snapshot" tool. See how long your neighbors house took to sell and what it sold for, find out the Sell VS List price to help better price your Toluca Lake home, Search the Toluca Lake MLS and so much more. If you are thinking of buying or selling Toluca Lake Real Estate this is the only website you will need.

New Website Helps Burbank Homeowners

http://whatsmyburbankhomeworth.com uses a easy and free tool called "Market Snapshot" to help Burbank Homeowners determine the value of their Burbank home. Just complete the short, 2-step form and within an hour comps, graphs, and neighborhood data will arrive in your inbox. Then you can be updated every month so you will always be in the know.

So, what are you waiting for? Visit What's My Burbank Home Worth now!

Borrowers with bad credit can now buy sooner with FHA

You may still be able to purchase a new home

If you think that you are unable to purchase a new home because you had a short sale or foreclosure recently I may have good news for you!

The Federal Housing Authority has announced it is shortening the waiting periods for homeowners with negative marks on their credit, such as a short sale, deed-in-lieu, foreclosure or even bankruptcy to buy again with an FHA loan.

Instead of the mandatory 3 years before qualifying for a new loan, buyers may be able to purchase in just 12 months!

The new deal is part of the FHA's "Back to Work - Extenuating Circumstances Program".

The program has pretty strict requirements. Potential borrowers must:

1.) Prove that the foreclosure or short sale was caused by what the FHA calls an "economic event" -- a loss of income and/or employment, that was beyond the control of the borrower must have caused an income reduction of at least twenty percent six months or more.

2.) Borrowers must prove that they have "fully recovered" from the "economic event" that led to the event and must prove that their credit was good before the "economic event", meaning that their credit report was free from derogatory credit issues. Borrowers must also show that since the event the borrower has maintained  satisfactory credit over the past twelve months.

3.) Borrowers must also complete at least one hour of one-on-one counselling from a HUD-approved counsellor at least thirty days but no more than six months before applying for an FHA loan.

After meeting all the requirements, borrowers can qualify for an FHA loan, which allows them a mortgage with just 3.5% down.

What's Your Sherman Oaks Home Worth?

 Click below to learn all about the New Sherman Oaks Home Value Website!

New Website Answers the Oft Asked Question "What's My Sherman Oaks Home Worth?"

Sherman Oaks Home Values Are UP!

Sales prices have appreciated 13.4% over the last 5 years in Sherman Oaks. 

The *median sales price for Sherman oaks Properties sold from May 13th to July 13th was $665,000. This is an increase $26,000 or 4.1%, compared to the previous quarter and an increase of 15.7% compared to the previous year. The average listing price for Sherman Oaks homes was $1,059,497 for the week ending August 28th, which is an increase of $45,848 or 4.5%, compared to the previous week and an increase of $20,238 or 1.9%,  compared to the week ending August 7th. Average price per square foot for Sherman Oaks CA was $402, an increase of 22.2% compared to the same period last year.

Want to know what the value of your Sherman Oaks home is. Visit http://www.WhatsMyShermanOaksHomeWorth.com to find out. Use our quick and easy tool and in 2 easy steps you will have all the information you need delivered to your inbox.

*The median sales price is the midway point of all the properties over a dtermined period (monthly, yearly, quarterly, etc.) So if there were 101 properties sold during a particular month the median house price would be the house price in the middle. (50 properties over that price and 50 homes under that price).

New Website Answers the Question: What's My Studio City Home Worth?

Heather Farquhar, a Top Producing Realtor in Studio City, announced the launch of her new website designed to help Homeowners in Studio City to determine the value of their home http://www.WhatsMyStudioCityHomeWorth.com.

Heather hopes that Studio City Homeowners wanting to know what their Studio City Home Is worth will find the comprehensive tools on this new website useful and easy to use. "I have tried to make it as easy as possible," Heather said, "in two easy steps a Studio City homeowner can have a Comparative Market Analysis delivered to their inbox without even having to talk to a Realtor." This tool, known as "The Market Snapshot" will then send an updated CMA monthly.

"Everyday I hear the same questions," Heather continued, "How's the real estate market? Do you think I can sell my home and make some money? Is it a good time to buy? I developed this website to help answer these questions. Using this tool will show sellers market trends in Studio City, it charts live market activity including sold homes, an interactive map, active listings, how many home are on the market and days-on-market. This is information that used to be available only to Realtors now I have put it at your fingertips."

Check out Heather's new site. You have nothing to lose and a wealth of information to be gained.

Check it out here: http://www.WhatsMyStudioCityHomeWorth.com

Call-For-Action: Tell Congress Tax Reform Should Do No Harm

NAR has issued an important Call-for-Action and C.A.R. strongly urges every California REALTOR® to take action on it TODAY.
The U.S. Senate will soon be considering tax reform options and has adopted a “Blank Slate” approach that initially eliminates every provision in the tax code, including the mortgage interest deduction and all those that encourage real estate ownership and investment.

Senators must submit their tax reform priorities to Senate leaders by July 26th. REALTORS® need to make their voices heard now so real estate provisions are on the top of the Senators' lists.

When approaching tax reform, Congress needs to be careful not to adversely affect the unique legacy of homeownership and real estate investment. It is precisely this legacy that has contributed to our country’s historical prosperity and the revitalization of today’s economy.

REALTORS® must stand united that tax reform should above all “Do No Harm” and encourage Congress to retain tax provisions vital to real estate.
Please respond to NAR’s Call-for-Action TODAY using this link HERE 
Please contact Rian Barrett at rianb@car.org with any questions.

Looking For Something to do On Saturday/Sunday Night?

This Saturday: June 22, 2013 in Studio City

Free Movie at Beeman Park: The Studio City Neighborhood Council is sponsoring this free movie night from 7:30 p.m.- 10:30 p.m. with a screening of Despicable Me starting at around 8 p.m. Bring a picnic basket or buy refreshments at the snack bar. Studio City Recreation Center, 12621 Rye Ave., Studio City. 

This Sunday: June 23, 2013 

Concert on the Green: Groove with The Marshall Tucker Band  on Sunday at 6 p.m.  It’s FREE! Bring a picnic and chairs. Warner Center Park, 5800 Topanga Canyon Blvd, Woodland Hills.

California Senate Leadership seeks to punish homeowners and REALTORS® for opposing $75 recording tax

LOS ANGELES (May 23) – This morning the Senate Appropriations Committee approved Senate Bill 30 (R. Calderon), which would extend existing provisions of state law protecting homeowners from having to pay income tax on a "short sale."  SB 30 is sponsored by the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.).
However, in a surprise amendment, SB 30 was linked by the committee to another bill that REALTORS®, as well the county recorders, assessors and title industry, oppose.  That measure, Senate Bill 391 (DeSaulnier), would establish a $75 per document recording tax to fund an affordable housing trust fund.  C.A.R. is opposing SB 391 because it unfairly adds to the cost of recording real estate documents.  The amendment holds SB 30 hostage to the passage of SB 391.
"Families that are forced to make the difficult decision to sell their home as a short sale are already in financial trouble.  And, that financial trouble may be due to a serious illness and/or loss of employment.  They simply can’t afford to pay an additional tax on money they’ve never actually received," stated C.A.R. President Don Faught.  "I'm outraged -- as should the voters of California -- that the Senate leadership would approve linking the fate of SB 30 to that of SB 391, effectively holding California property owners hostage."
Short sales have become an increasingly important alternative to foreclosure for homeowners "underwater" on their mortgage.  Without special protection, federal and state law would view the debt forgiven by a lender in a short sale as income and, as a result, that “income” would be taxed.  In recent years, state and federal law has been amended to keep this “phantom” income from being taxed, but California protections have not been extended.  Consequently, C.A.R. is sponsoring SB 30.
While SB 391 does not apply to sale transactions, the measure applies anytime a home/property owner records a document (e.g., refinancing, transferring into or out of a trust, liens, quit claim deeds, etc.).  C.A.R. is an aggressive advocate for affordable housing, but believes it is bad policy to fund affordable housing at the expense of home/property owners who need to record real estate documents.  The amendment to SB 30 attempts to extort support for the new tax on homeowners in SB 391.

Top Ten Buyer Mistakes

Fewer Borrowers Are Falling Behind!

In March, for the first time since 2008, the number of U.S. mortgages that were behind on their payments or in foreclosure  fell below the 5 million mark , according to a report released Tuesday.

The number of loans in the foreclosure process fell to just below 1.69 million in March, the lowest level in nearly four years, according to Lender Processing Services. That was down by almost 20% from one year ago. Overall, around 3.4% of all U.S. mortgages were in foreclosure at the end of March, down from 4.2% a year ago.
Foreclosures have been falling because fewer borrowers are falling behind on their payments and because banks have been more aggressive about modifying loans or approving short sales, where properties are sold before the bank completes foreclosure.
Another almost 3.31 million loans were behind on their payments in March, with around 1.47 million of those that had missed at least three payments. The level of delinquent loans was down by 3% from a year ago, with around 6.6% of all borrowers in some stage of delinquency, excluding those in foreclosure.
Delinquencies tend to fall in March because homeowners use year-end bonuses and tax refunds to help catch up on their mortgages.
Before the housing crisis, around 5% of borrowers were delinquent on their mortgages and another 1% of loans were in foreclosure. The latest data show that while delinquencies and foreclosures are moving in the right direction, it’s probably going to take a few more years before delinquencies and foreclosures get back to pre-crisis levels.

By Nick Timiraos

Follow Nick @NickTimiraos

This Week Is Zero Tolerance Week On Ventura Blvd

                                                   HANG UP & DRIVE

Police in Southern California are ticketing drivers for texting, using a cellphone without a hands free device,  or drivers who are distracted.
April 3-16 will be zero-tolerance week for drivers that aren't following the laws.  There will be no warnings just very expensive tickets. Fines start at about $160 for a first offense . A second offense will cost about $280.

April 2012 saw about 57,000 people in California get tickets for driving while distracted, and about 450,000 people were ticketed during the entire year.
According to federal highway officials 3,300 people died in 2011 nationwide in accidents involving at least one distracted driver.

Surprisingly, adults are more likely to text or talk on the phone while driving than teenagers. Hang up, put the phone away and be safe. 

Prices Up/Inventory Down

California’s median home price marked a full year of annual price gains, propelled by strong sales of higher-priced homes in February, while a lack of inventory constrained total home sales for the month, C.A.R. reported. 

Keep Your Home California

Keep Your Home California debuts new interactive website
Keep Your Home California has launched an easier-to-use website at www.KeepYourHomeCalifornia.org, allowing homeowners to answer questions online and determine if they are a good candidate for the free mortgage assistance program, and, if so, which program works best for them.

The federally funded program helps homeowners who have suffered a financial hardship, such as a job loss, a reduction in pay, divorce, or significant health care expenses, to make their mortgage payments.

Carpenter Charter School Is Having Growing Pains!

 Carpenter Charter School has gotten too popular. Living in the district does not guarantee that your child will be able to attend the celebrated school. For More Info read the article at Studio City Patch

Realtors Help Keep Your Property Taxes Down.

Coalition of Los Angeles REALTOR^® Associations Keeps Transfer Tax Increase Off the Ballot — February 2013
Last spring, when the City of Los Angeles proposed solving its $230 million fiscal year budget deficit by doubling the documentary transfer tax rate to $9 per $1,000 of assessed value, REALTORS® took action – fast. Eleven REALTOR associations covering the Los Angeles metropolitan area put together a coalition – 25,000 REALTORS® in all – to mount a successful campaign against the proposed transfer tax increase. And, by the way, they offered a viable alternative for raising the needed government funds. Using their own resources, along with funding from the California Association and NAR’s Issues Mobilization program, the coalition conducted polls, drafted alternative policy language and distributed effective mailers, which helped to get the transfer tax proposal off the March ballot.

I've posted a new listing!

I've posted a new listing! This Light & Bright 3 bedroom tri-level townhouse in Reseda boasts a large living room with fireplace, dining area, roomy kitchen, and patio. The two bedrooms located upstairs have loads of closet space. The downstairs bedroom would make a perfect office or den. Bathrooms feature newer tile, sinks, and fixtures. Sparkling pool. Newer central air. This is an end unit with one shared wall. And, wait for it...........direct access, private parking!!!!!! Entrance to the garage is on Shirley Ave. This is a short sale.

                                                     Click Here For More Information

Great News!!!!!!

The Mortgage Forgiveness Debt Relief Act has been extended for another year.  The measure will continue to exempt from taxation mortgage debt that is forgiven when homeowners and their mortgage lenders negotiate a short sale, loan modification (including any principal reduction) or foreclosure.  
If you are upside down in your home and don't see a way out. Contact me TODAY....