Pacific Palisades Real Estate, Malibu Real Estate, Santa Monica Real Estate Blog: California: Los Angeles

Happy Friday everyone! I hope you all endured the long week and are now ready to party this weekend away :)

I found this helpful information on the REALTOR.com® website and have to share with you..

	Tool		Use
1.	Hammer		Since the stone age man has used this tool in one form or another and for good reason, it is indispensable. A 16-ounce, curved-claw hammer will handle most tasks. Choose a drop-forged steel head.
2.	Screwdriver		Get one with changeable tips. With so many different kinds of fasteners, a screwdriver that can adapt to all of them is a must.
3.	Duct tape		Is this a tool or a material? Both! With a little imagination duct tape can be used for a variety of temporary repairs.
4.	Putty knife		Not just for putty but for scraping, light prying, mixing materials and any number of other tasks. Use stiffer varieties for scraping and more flexible ones for applying putty, glazing and spackling.
5.	Tape measure		Measuring is a must for almost any project. A 12-foot length is good for most home repairs and a 25-foot length is better for carpentry and plumbing.
6.	Vise grips		Use this tool, sometimes called locking pliers, for grabbing all sorts of things very tightly. It comes in handy for loosing nuts that won't budge.
7.	Utility knife		It's better than a knife because the blades can be changed when dull. And it's safer to use.
8.	Hack saw		This saw is good for cutting metal or a variety of other materials including plastic. Select a variety of blades for a range of purposes.
9.	Caulking gun		This tool is a must for dispensing caulk, glue and even tar for roof repairs.
10.	Assorted fasteners		Repairs are all about putting things back together. A nice variety of nails, screws, etc. organized in a box with dividers helps a lot.

 

Westside Properties is a full-service real estate boutique brokerage based in Pacific Palisades serving the entire Westside of Los Angeles.  We proudly represent the finest properties throughout the Westside.
We work as a team and combine our extensive real estate experience, powerful resources and connections to benefit you whether you are looking you buy or sell a home in today's exciting and lucrative real estate market.

Call us now to get started on the road to buying or selling your next home.

310.459.8191 or email info@wsprops.com

 

To preview the finest real estate and the best deals on the Westside of Los Angeles including Pacific Palisades, Santa Monica, Malibu, Brentwood, Bel Air, Beverly Hills, West L.A., Marina Del Rey & Mar Vista please visit our website: http://www.westsidehomefinder.com/ When you are ready to view the properties or just have a question, please contact us: 310.459.8191 or info@wsprops.com

Search for homes in your city:

PACIFIC PALISADES  - SANTA MONICA  - MALIBU - BRENTWOOD 

BEVERLY HILLS - WESTWOOD/CENTURY CITY - MARINA DEL REY 

VENICE  - TOPANGA - CULVER CITY - PLAYA DEL REY - PLAYA VISTA 

WEST L.A. - BEL-AIR - BEVERLY HILLS PO - BEVERLY CENTER/MIRACLE MILE

 

            

 

Pacific Palisades California Real Estate ׀ Pacific Palisades Homes ׀ Pacific Palisades Homes for Sale

Malibu California Real Estate ׀ Malibu Homes ׀ Malibu Homes for Sale

Santa Monica California Real Estate ׀ Santa Monica Homes ׀ Santa Monica Homes for Sale

Brentwood California Real Estate ׀ Brentwood Homes ׀ Brentwood Homes for Sale

Happy Thursday everyone! We're on the downhill for the week and the weekend is within reach! Well, it is for all of you 9-5ers :) Here is today's Thursday Throwdown...

 

Westside Weather

 

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Top Stories Via Google News

 

• Feds probing Prius brakes - CNNMoney.com
• Hynes concedes Dem. governor primary race in Ill. - Washington Post
• At National Prayer Breakfast, Obama Warns against 'erosion of civility' - Washington Post

Happy Monday everyone! I hope you enjoyed the weekend. My office and website www.WestsideHomeFinder.com receive a lot of inquiries regarding qualifying for the Extended Homebuyer Tax Credit. Here is the information that I share with everyone...

 

There’s happy news for current homeowners: If you intend to sell your home and buy another in 2009 or 2010, you may be eligible for a federal tax credit of up to $6,500. The Extended Homebuyer Tax Credit legislation, passed in November 2009, also shares the wealth with first-time homebuyers—up to $8,000.

 

Are you eligible?

You’re considered a current homeowner under IRS rules if you’ve used the home being sold or vacated as a principal residence for five consecutive years within the last eight. You’re a first-time homebuyer if you or your spouse haven’t owned a home for the three years before your purchase.  

In both cases, keep in mind that the credit amount you’re eligible for begins to decrease for joint filers if your modified adjusted gross income is $225,000 ($125,000 for individuals); it disappears at $245,000 ($145,000 for individuals).

The ultimate amount of your credit depends on the price of the home and your income.

To claim your benefit:

Close on a new principal residence between Nov. 7, 2009, and April 30, 2010. You can settle as late as June 30, 2010, as long as you have a binding contract by April 30.

Don’t spend more than $800,000 on your new home.

When you submit your tax return, attach a copy of the settlement statement you received at closing. Check with the IRS or your tax adviser to confirm what additional documentation may be needed.

Decide whether to:

• Apply the credit to your 2009 tax return, filed on or before April 15, 2010,
• File an amended 2009 return; or
• Apply the credit on your 2010 return, filed on or before April 15, 2011.

First-timers who purchased a home between Jan. 1, 2009, and Nov. 6, 2009, may also be eligible for the $8,000. Keep in mind that the income limits in this case are tighter than for those who purchased after Nov. 6.

Apply the credit to your 2009 taxes

To claim the credit on your 2009 tax return:

• Complete IRS Form 5405 to determine the amount of your available credit.
• Apply the credit when you file your 2009 tax return or file an amended return.
• Attach documentation of purchase to your return or amended return.

Which properties are eligible?

You can apply the credit to primary residences, including single-family homes, condos, townhomes, and co-ops.

Do I need to repay the tax credit?

No, not if you occupy the purchased home for three years or more. However, if the property is sold during this three-year period, the full amount of the credit will be recouped on the sale.

This article provides general information about tax laws and consequences, but is not intended to be relied upon by readers as tax or legal advice applicable to particular transactions or circumstances. Readers should consult a tax professional for such advice, and are reminded that tax laws may vary by jurisdiction.

 

Westside Properties is a full-service real estate boutique brokerage based in Pacific Palisades serving the entire Westside of Los Angeles.  We proudly represent the finest properties throughout the Westside.
We work as a team and combine our extensive real estate experience, powerful resources and connections to benefit you whether you are looking you buy or sell a home in today's exciting and lucrative real estate market.

Call us now to get started on the road to buying or selling your next home.

310.459.8191 or email info@wsprops.com

 

To preview the finest real estate and the best deals on the Westside of Los Angeles including Pacific Palisades, Santa Monica, Malibu, Brentwood, Bel Air, Beverly Hills, West L.A., Marina Del Rey & Mar Vista please visit our website: http://www.westsidehomefinder.com/ When you are ready to view the properties or just have a question, please contact us: 310.459.8191 or info@wsprops.com

Search for homes in your city:

PACIFIC PALISADES  - SANTA MONICA  - MALIBU - BRENTWOOD 

BEVERLY HILLS - WESTWOOD/CENTURY CITY - MARINA DEL REY 

VENICE  - TOPANGA - CULVER CITY - PLAYA DEL REY - PLAYA VISTA 

WEST L.A. - BEL-AIR - BEVERLY HILLS PO - BEVERLY CENTER/MIRACLE MILE

 

            

 

 

Happy Saturday everyone! The storms have subsided. The bright blue sky and sun are once again visible in Southern California! Here are a few weekend activities:

• Big Tour: Cold War Kids
  SoCal natives kick off national tour in support of their new EP, Behave Yourself.
  Hang Me Up To Dry: It's the song you know.
  Fri 7:30p. The Wiltern, 3790 Wilshire Blvd. (213-388-1400). $20. Nearby: Frank N Hanks; HMS Bounty; Maitreya
• Retro Catwalk: 30 Years of Pin-Up
  Enjoy cocktails while modern models parade around in vintage lingerie and bathing suits dating from the '20s to the '50s. 
  Famous artists: The work of legendary pin-up illustrators likeVargas will also be on display.
  Sun 6-8:30p. Warner Grand Theatre, 478 West 6th St., San Pedro (310-548-7672‎). $25-35 here. Nearby: Ports O' Call; The Whale & Ale; Sixth St. Bistro
• Movie Night: Raging Bull 30th Anniversary
  Scorsese's masterful B&W portrait of prizefighter Jake La Motta gets a spiffy digital restoration for its 30th birthday.
  Marty on Conan: The director detailed his phobias Monday onThe Tonight Show.
  Fri 7:30p. Egyptian Theatre, 6712 Hollywood Blvd. (323-466-3456). $11. Nearby: The Mercantile; Roosevelt Hotel; Musso & Frank Grill

Westside Properties is a full-service real estate boutique brokerage based in Pacific Palisades serving the entire Westside of Los Angeles.  We proudly represent the finest properties throughout the Westside.
We work as a team and combine our extensive real estate experience, powerful resources and connections to benefit you whether you are looking you buy or sell a home in today's exciting and lucrative real estate market.

Call us now to get started on the road to buying or selling your next home.

310.459.8191 or email info@wsprops.com

 

To preview the finest real estate and the best deals on the Westside of Los Angeles including Pacific Palisades, Santa Monica, Malibu, Brentwood, Bel Air, Beverly Hills, West L.A., Marina Del Rey & Mar Vista please visit our website: http://www.westsidehomefinder.com/ When you are ready to view the properties or just have a question, please contact us: 310.459.8191 or info@wsprops.com

Search for homes in your city:

PACIFIC PALISADES  - SANTA MONICA  - MALIBU - BRENTWOOD

BEVERLY HILLS - WESTWOOD/CENTURY CITY - MARINA DEL REY

VENICE  - TOPANGA - CULVER CITY - PLAYA DEL REY - PLAYA VISTA

WEST L.A. - BEL-AIR - BEVERLY HILLS PO - BEVERLY CENTER/MIRACLE MILE

 

            

Pacific Palisades California Real Estate ׀ Pacific Palisades Homes ׀ Pacific Palisades Homes for Sale

Malibu California Real Estate ׀ Malibu Homes ׀ Malibu Homes for Sale

Santa Monica California Real Estate ׀ Santa Monica Homes ׀ Santa Monica Homes for Sale

Brentwood California Real Estate ׀ Brentwood Homes ׀ Brentwood Homes for Sale

Happy Saturday everyone! I have enjoyed another great morning with my family and am still recovering on my lazyboy. I am expected to get back to action this coming week. Well, I can work at my office but the Dr. will not allow me to do showings yet :(

Tomorrow, Westside Properties will be hosting a couple of open houses:

 

 

Luxury malibu Estate! Ocean Views! 1-acre Lot

Pacific Palisades Colonial Estate 1st Time on Market EVER!

 Both open houses are Sunday 1-4pm. Click on a picture for more details

Here are a couple of events that you may be interested today:

 

• Movits - Sat, 1/23/10

Music Events, Events, Performing Arts Events

Spaceland - 1717 Silver Lake Blvd, Los Angeles, CA

 

 

• A Midsummer Night's Dream the Waiting Room - Sat, 3/20/10

Theatre Events, Events, Performing Arts Events

CSUN - Cal State Northridge - 18111 Nordhoff Street, Northridge, CA

 

 

Westside Properties is a full-service real estate boutique brokerage based in Pacific Palisades serving the entire Westside of Los Angeles. We proudly represent the finest properties throughout the Westside. We work as a team and combine our extensive real estate experience, powerful resources and connections to benefit you whether you are looking you buy or sell a home in today's exciting and lucrative real estate market.

Call us now to get started on the road to buying or selling your next home.

310.459.8191 or email info@wsprops.com

 

To preview the finest real estate and the best deals on the Westside of Los Angeles including Pacific Palisades, Santa Monica, Malibu, Brentwood, Bel Air, Beverly Hills, West L.A., Marina Del Rey & Mar Vista please visit our website: http://www.westsidehomefinder.com/ When you are ready to view the properties or just have a question, please contact us: 310.459.8191 or info@wsprops.com

Search for homes in your city:

PACIFIC PALISADES - SANTA MONICA - MALIBU - BRENTWOOD BEVERLY HILLS - WESTWOOD/CENTURY CITY - MARINA DEL REY VENICE - TOPANGA - CULVER CITY - PLAYA DEL REY - PLAYA VISTA WEST L.A. -BEL-AIR - BEVERLY HILLS PO - BEVERLY CENTER/MIRACLE MILE

 

      

Whether you're in foreclosure now or worried 
about it in the future, we have information that can help.

Get Help Now!

	Talk to a foreclosure avoidance counselor
	Talk to your lender
	Find state and local foreclosure resources
	Contact HOPE NOW

 

Keep Your Home

	Are you at risk of foreclosure?
	Tips for avoiding foreclosure
	Foreclosure scams

 

Refinance Options

	Making Home Affordable Program
	Learn about HOPE for Homeowners
	Who to call when a lender won’t work with you

 

If You Can't Keep Your Home

	Redemption period - your last chance to save your home
	Local renting resources
	Rental assistance
	Relocation resources
	U.S. Postal Service Movers Guide

 

Search for homes in your city:

PACIFIC PALISADES - SANTA MONICA - MALIBU - BRENTWOOD BEVERLY HILLS - WESTWOOD/CENTURY CITY - MARINA DEL REY VENICE - TOPANGA - CULVER CITY - PLAYA DEL REY - PLAYA VISTA WEST L.A. -BEL-AIR - BEVERLY HILLS PO - BEVERLY CENTER/MIRACLE MILE

 

      

PCH Road Closures - Palisades Bluffs Project

The City of Santa Monica began construction work on its Palisades Bluffs Project in November 2009. Intermittent lane closures of the northbound lane of Pacific Coast Highway nearest the bluffs (land side) can be expected during construction hours (Monday through Saturday, 8:00 am to 3:00 pm). Commuters should expect some delays in the area and are asked to proceed with caution through the construction zone.

 

The project is intended to make drainage improvements at the base of the Palisades Bluffs from the California Incline to the northern Santa Monica city limit (near Entrada Avenue) in order to decrease the rate of gradual deterioration of the Bluffs caused by localized slope failures resulting from groundwater seepage.

 

For additional information on this and other projects impacting PCH traffic, visit the PCH Partners website at pchpartners.org/.

 

• CLICK HERE for additional information on this and other PCH projects

Contact: PCH Partners Community Outreach
Phone: (866) 755-7679

Westside Properties is a full-service real estate boutique brokerage based in Pacific Palisades serving the entire Westside of Los Angeles.  We proudly represent the finest properties throughout the Westside.
We work as a team and combine our extensive real estate experience, powerful resources and connections to benefit you whether you are looking you buy or sell a home in today's exciting and lucrative real estate market.

Call us now to get started on the road to buying or selling your next home.

310.459.8191 or email info@wsprops.com

 

To preview the finest real estate and the best deals on the Westside of Los Angeles including Pacific Palisades, Santa Monica, Malibu, Brentwood, Bel Air, Beverly Hills, West L.A., Marina Del Rey & Mar Vista please visit our website: http://www.westsidehomefinder.com/ When you are ready to view the properties or just have a question, please contact us: 310.459.8191 or info@wsprops.com

Search for homes in your city:

PACIFIC PALISADES  - SANTA MONICA  - MALIBU - BRENTWOOD

BEVERLY HILLS - WESTWOOD/CENTURY CITY - MARINA DEL REY

VENICE  - TOPANGA - CULVER CITY - PLAYA DEL REY - PLAYA VISTA

WEST L.A. - BEL-AIR - BEVERLY HILLS PO - BEVERLY CENTER/MIRACLE MILE

 

            

 Deciding to Sell

You've probably already considered your personal reasons for selling. Now you need to take into account the other factors involved, such as market conditions, your property's value and tax implications. Unless you're locked into selling your home (e.g., you've already accepted a job offer in another city), it's a good idea to look at the whole picture before deciding to sell.

Assessing Market Conditions

There's a rule of thumb to keep in mind when deciding to sell your home: Your home is only worth what a qualified buyer is willing to pay at the time it's on the market. The current real estate market fluctuates based on supply and demand, interest rates, general economic conditions, and other factors. The same house may sell for more or less under a different economy. Your REALTOR® can inform you of the going price for homes in your area at the current time; this data is included in a comparative market analysis (link to Appraisals and CMAs).

Tax Implications of Selling

There are many dynamics that can affect your tax liability upon selling your home. These issues include whether you purchased the home or inherited it, if you used your home for business or rental purposes, costs associated with selling your home, and any home improvements and additions that you've undertaken.

The Federal Taxpayer Relief Act of 1997 provides capital gains tax exclusions of up to $500,000 for married taxpayers filing jointly and $250,000 for single taxpayers or married taxpayers filing separately. Current capitol gains rates are 20 percent for those in upper tax brackets and 10 percent for those in lower tax brackets. Overall capital gains rates have been lowered even further -- to 18 percent and 8 percent respectively -- for assets acquired after December 31, 2000, and held five years or more.

To qualify for this tax break, you must have used the home as your primary residence for at least two of the prior five years; these two years don't have to be consecutive. If you relocate for your job but don't meet the requirement, you may be allowed to take a capital gains exclusion proportionate to your circumstances. This exclusion is not a one-time benefit; you may take advantage of it once every two years as long as you meet the qualifications.

The tax rules differ when you sell a home that you've inherited. If you sell the inherited home for a profit, you're required to pay federal and state taxes on the gain. If you keep the house as a second residence and/or eventually move into it after renting it to tenants, you may take the $250,000/$500,000 capital gains tax exclusion if you meet the requirements. When you're deciding what to do with inherited property, you should consider the current estate tax laws and basis practices.

Beyond these general rules, it's wise to discuss your home's sale with a tax professional who can advise you on tax benefits in more detail.

Timing Your Decision to Sell

Because most sellers finance a new home purchase with the sale of their present home, they usually put their homes on the market before they begin their search for a new home. Learning the price you can expect from the sale often sets the pricing parameters for your new home search.

Obviously, it's not wise to wait until the sale on your property closes completely before beginning to look for your new home. Timing your search properly with the buyers' transaction can make the difference between having the available funds to buy a new home and cutting down on the interim period between homes.

 

Westside Properties is a full-service real estate boutique brokerage based in Pacific Palisades serving the entire Westside of Los Angeles.  We proudly represent the finest properties throughout the Westside.
We work as a team and combine our extensive real estate experience, powerful resources and connections to benefit you whether you are looking you buy or sell a home in today's exciting and lucrative real estate market.

Call us now to get started on the road to buying or selling your next home.

310.459.8191 or email info@wsprops.com

 

To preview the finest real estate and the best deals on the Westside of Los Angeles including Pacific Palisades, Santa Monica, Malibu, Brentwood, Bel Air, Beverly Hills, West L.A., Marina Del Rey & Mar Vista please visit our website: http://www.westsidehomefinder.com/ When you are ready to view the properties or just have a question, please contact us: 310.459.8191 or info@wsprops.com

Search for homes in your city:

PACIFIC PALISADES  - SANTA MONICA  - MALIBU - BRENTWOOD

BEVERLY HILLS - WESTWOOD/CENTURY CITY - MARINA DEL REY

VENICE  - TOPANGA - CULVER CITY - PLAYA DEL REY - PLAYA VISTA

WEST L.A. - BEL-AIR - BEVERLY HILLS PO - BEVERLY CENTER/MIRACLE MILE

Testifying before the Housing Financial Services Committee yesterday, Secretary of Housing and Urban Development (HUD) Shaun Donovan announced possible policy changes for Federal Housing Administration's (FHA) borrowers.

Rising defaults on FHA loans have led to the FHA's cash reserves falling below federally mandated levels. FHA officials hope that policy changes will ensure borrowers have a stronger equity position and are less likely to default.

Proposed changes include:
· Raising the minimum credit scores requirements: Currently borrowers with FICO scores as low as 500 may qualify for an FHA-insured loan. The new minimum credit score has yet to be determined.

· Increasing down payment requirements: FHA borrowers currently can put down as little as 3.5 percent. A proposed change would raise that amount to a minimum of 5 percent.

· Limiting the amount sellers can provide as concessions: The agency is considering lowering the maximum permissible level to 3 percent from its current 6 percent limit.

· Raising up-front insurance premiums: Agency staff is reviewing whether to increase the monthly insurance premiums charged to borrowers, which come on top of insurance paid up front. The current up-front premium is set at 1.75 percent of the value of the loan. The FHA may decide to increase that premium. The amount has yet to be determined.

According to Donovan, the rules will not be finalized until the FHA determines how to craft them in a way that weeds out the most problematic borrowers while ensuring that qualified borrowers will not be inadvertently shut out, thereby derailing the housing market's recovery.

Fore more information about the changes to FHA borrowers, please visit the following:

Wall Street Journal: FHA Considers Ways to Boost Its Reserves 

Washington Post: HUD chief defends efforts to aid borrowers

Los Angeles Times: Home buyers will have to lay out more cash for an FHA mortgage

Westside Properties is a full-service real estate boutique brokerage based in Pacific Palisades serving the entire Westside of Los Angeles.  We proudly represent the finest properties throughout the Westside.
We work as a team and combine our extensive real estate experience, powerful resources and connections to benefit you whether you are looking you buy or sell a home in today's exciting and lucrative real estate market.

Call us now to get started on the road to buying or selling your next home.

310.459.8191 or email info@wsprops.com

 

To preview the finest real estate and the best deals on the Westside of Los Angeles including Pacific Palisades, Santa Monica, Malibu, Brentwood, Bel Air, Beverly Hills, West L.A., Marina Del Rey & Mar Vista please visit our website: http://www.westsidehomefinder.com/ When you are ready to view the properties or just have a question, please contact us: 310.459.8191 or info@wsprops.com

Search for homes in your city:

PACIFIC PALISADES  - SANTA MONICA  - MALIBU - BRENTWOOD

BEVERLY HILLS - WESTWOOD/CENTURY CITY - MARINA DEL REY

VENICE  - TOPANGA - CULVER CITY - PLAYA DEL REY - PLAYA VISTA

WEST L.A. - BEL-AIR - BEVERLY HILLS PO - BEVERLY CENTER/MIRACLE MILE

This was an interesting video to watch because not only is the general contractor a woman but she was also working on her sister's bathroom. haha! Seriously though, one of my closest girlfriends is a general contractor who remodeled my office in Pacific Palisades. AMAZING WORK!!!! Please email me for her contact info. This video also educates homeowners who are parents as to how to make the bathroom safe for kids. Get the popcorn out because the video is around 20 minutes.