There IS Help For Westside Home Owners In Trouble | Program 3648
April 17th, 2009 categories: About Short Sales, Avoid Foreclosure, Home Seller Tips, Los Angeles Real Estate, Santa Monica Real Estate
Over 20,000,000 households are facing potential default or foreclosure right now. NO homeowner should experience foreclosure. Through my efforts along with consumer protection under H.R. 3648, The Mortgage Foregiveness Debt Relief Act of 2007 there’s an extremely good chance that there is help….at NO charge to the home owner, whatsoever. Read the rest of this article »
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Real Estate News | March 2009
April 6th, 2009 categories: Los Angeles Real Estate
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What Westside Homeowners Need To Know To Avoid Foreclosure
April 4th, 2009 categories: About Short Sales, Avoid Foreclosure, Home Seller Tips
Recent research estimates that as many as 20 Million homeowners are in default on their mortgages and/or facing foreclosure. What most don’t realize is that there may be a way to prevent an actual foreclosure. It’s called a short sale.
You are a candidate for a short sale when you can no longer afford to pay your monthly payments. By following a specific process, with the help of a licensed real estate agent, and a professional 3rd party qualified negotiator, the lender allows you to be released from your loan, forgiving or cancelling the balance you owe them.
Why would a lender accept a short sale? Read the rest of this article »
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Short Sales On The Rise
April 2nd, 2009 categories: About Short Sales, Avoid Foreclosure
I am on my way this afternoon to sign a listing agreement with a homeowner who is upside down. He owes $635,000 on his mortgage, and his home is currently worth no more than $580,000. His negative amortization loan is about to adjust, and he will not be able to make his payments. To make matters worse, his wife is commuting more than an hour each way, and it’s put tremendous wear and tear on their car, not to mention stress on their relationship. He will need to buy a new one soon, and won’t be able to afford it. I have reviewed his situation with my partners at BGS3, and we are completely confident that we can help him STOP foreclosure, negotiate to have any deficiency judgement waived, and will be able to help him restore his credit within 2 years.
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Santa Monica Real Estate Agent Dana Ehrlich Partners To Provide Relief To Homeowners In Trouble
April 1st, 2009 categories: About Short Sales, Avoid Foreclosure, Home Seller Tips, Los Angeles Real Estate, Property Values, Seller Strategies
On January 29th, 2008, BGS3, the National Processing Center for Short Sales, announced Program 3648. What was announced was the release of a nationwide campaign to certify qualified real estate professionals to assist homeowners facing a potential foreclosure. When the former president signed H.R. 3648, he provided a much needed solution to the national foreclosure problem. H.R. 3648 — The Mortgage Forgiveness Debt Relief Act of 2007 is shelter in the storm for many upside down homeowners.
I am involved in the critical step with BGS3 – to be part of a certified ground army of concerned professionals who are available to reach out to the multitude of homeowners who desperately need relief.
Program 3648 Representatives have been working to educate homeowners and their families on their rights and options. The media has talked a lot lately, trying to educate the public about their options when facing foreclosure. But the vast majority of individuals in this situation simply don’t know where to start. Program 3648 was enacted to handle the processing for qualified homeowners to either keep their home or go through a short sale. There is no cost for the program, and the homeowner never needs to worry about future fees or costs.
As caring, well-educated, experienced professionals administering the program on a national scale, BGS3’s mission is to help thousands of homeowners avoid foreclosure. As a Certified Program 3648 Representative, I am grateful to be able to offer my experience and expertise in working with people in a challenging situation, and in conjunction with BGS3, we will help challenged homeowners benefit from H.R.2648.
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Santa Monica, CA | Annenberg Community Beach House Is Set To Open!
March 24th, 2009 categories: Los Angeles Real Estate
Rendering of the soon-to-be-completed Annenberg Community Beach House, Santa Monica, CA
This is one incredible piece of Santa Monica Real Estate!
It’s been the buzz in Santa Monica for the past few years since construction has been underway, only after more than a decade of community input and planning. And now we are probably less than a month away from it’s grand opening! The Annenberg Community Beach House, aka 415 Pacific Coast Highway, is scheduled to open mid to late April.
Rumors are that it may be the first of it’s kind - a public beach club being born from a fully restored magnificently tiled pool and guest house, and once the site of a grand 110-room mansion designed by Julia Morgan. The original estate was built by William Randolph Hearst for his companion, actress Marion Davies.And back in the Golden Era, the property was a “hot spot” for Hollywood celebs who would come to enjoy the fabulous parties and enjoy the sun & sea. Davies was known to be the pre-eminent Hollywood hostess, hosting film luminaries to heads of state.
The redevelopment includes a playground, splash pad, event space (various types), and a pool house with a second floor viewing deck. Locals are excited about the re-opening of Back on the Beach Cafe, which was closed down and refurbished as part of the project. Locals and non-locals alike will be able to enjoy the Beach House all summer long. It can also be available for rent for private events all year round.
One hour tours will be offered by docents organized by the Santa Monica Conservancy.
The Annenberg Foundation provided a massive grant to the City of Santa Monica and California State Parks some years ago. The US Department of Housing & Urban Development as well as the Federal Preserve America grant program have also provided additional funding.
The re-opening is highly anticipated, and is expected to generate alot of interest. So if you plan to go, ride your bike…PCH will be a bear!
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Chat To Text Technology? This is BRILLIANT! Try It Right Here
March 23rd, 2009 categories: Los Angeles Real Estate
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Westside Los Angeles Real Estate Buyers | First-Timers Welcome!
March 22nd, 2009 categories: Home Buyer Tips, Los Angeles Real Estate
Free Educational Event for First Time Homebuyers from Dana Ehrlich on Vimeo.
This is an excellent event for First Time Home Buyers in Los Angeles, CA. If you’re looking to purchase real estate in Los Angeles for the first time, take advantage of this free seminar
Register NOW by clicking here!
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Desperately Seeking Buyer For This Santa Monica Condo Propertunity!
March 22nd, 2009 categories: Los Angeles Real Estate, Santa Monica Propertunities, Santa Monica Real Estate
This Santa Monica Condo is a KILLER PROPERTUNITY!!!
If you’ve been following my blog and Facebook posts, then you know what a Propertunity is…it’s a Property that’s an Opportunity…a Propertunity.
I know the buyer is out there for this one, so if you’re reading this, and you’re not the buyer, I hope you’ll pass this along.
The seller of this condo MUST SELL….His loss is going to be a buyer’s true gain.
I’ve been a specialist in the Santa Monica real estate market long enough to understand how special, rare, and valuable this property is. Right now, the seller is of the mindset that he can represent himself and get the property sold. He won’t list it with me…yet. So I offered to expose it to my World of friends, family, buyer prospects, cyber friends and cyber colleagues, in hopes of finding his buyer without a formal MLS listing, and all of the other marketing that goes into a formal listing.
Description:
COOL CONTEMPORARY MODERN ARCHITECTURE
PANORAMIC OCEAN VIEW OF THE PACIFIC OCEAN, CATALINA ISLAND, MARINA DEL REY AND THE PALOS VERDES PENINSULA.
APPROXIMATELY 2300 SQUARE FEET- UNHEARD OF SQUARE FOOTAGE
THREE BALCONIES
SPACIOUS MASTER BEDROOM & LARGE SECOND BEDROOM
TWO FULL BATHS
EXTREMELY LARGE LIVING ROOM AREA WITH AN 18 FOOT BARRELED CEILING & HARD WOOD FLOORS
LARGE SECOND FLOOR LOFT, DIRECTLY ACCESSING LARGE PATIO WITH SPA TUB AND A SWEEPING VISTA
OCEAN VIEWS FROM THE SECOND BEDROOM, LIVING ROOM, KITCHEN AND UPSTAIRS LOFT.
SANTA MONICA MOUNTAIN VIEWS FROM THE MASTER BEDROOM AND LIVING ROOM.
ALL ROOMS ARE LIGHT AND BRIGHT
DOUBLE PANED GLASS THROUGHOUT THE UNIT CREATING A VIRTUALLY SILENT LIVING AREA.
ENCLOSED SECURITY GATED PERSONAL DOUBLE CAR GARAGE. ELEVATOR TO UNIT
BEAUTIFULLY MAINTAINED BUILDING, BUILT IN 1996.
MUST SEE!!!
Priced Extremely Atrractively At: $949,000
Call me for immediate access to this Propertunity - 310-392-0096
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Sellers Solve Pent-Up Demand in the Luxury Santa Monica Condo Market
March 21st, 2009 categories: Los Angeles Real Estate
Even in an economic slow-down, there’s pent-up demand within the segment of the market that comprised the buying population of yesteryear in the luxury Santa Monica condo market. A majority of my business from ‘04 through ‘08 was made up of representing buyers and sellers in the $900,000 to $1.5M price range, mainly in Santa Monica.
Many prospective buyers in this price range have discontinued their searches for many reasons: 1) Lost capital toward down payment in stock market investments (most likely where money was being socked away in anticipation of a real estate purchase), 2) In the old market, with secondary financing readily available, it was easy to get in with 10% down, 3) Now, with a 25-30% down payment requirement, many buyers who can easily carry the mortgage don’t have the $250,000-300,000 that’s now required.
My clients are very smart people. Here we are, in an economic crisis, and the luxury condo market in Santa Monica has gone from a full-force, open faucet pressure to a dried-up slow drip. The jumbo loan market is practically non-existent, with the few banks that offer them expecting no less than a 25-30% down payment.
A buyer can now buy brand new, gorgeous, high-end construction,
a north of Wilshire Santa Monica Condo
with better terms than ever before!
Here’s the deal:
- Only 10% down payment ($110,000)
- Buyer secures a conventional loan for $730,000 - right now, this loan can be obtained at 5% interest rate for 30 years-fixed!
- Seller provides secondary financing for the balance of the purchase price at a VERY favorable rate of 6-6.5%
Based on the current list price of this property, I can demonstrate at least 20% upside based on historical evidence (let’s not forget that the real estate market is cyclical).
And that’s not all! The seller is offering a 6% Builder Incentive which the buyer can use any way they see fit
- take a 6% reduction off the price, or
- pay for closing costs, and/or
- structure an interest rate buy-down (my lender can explain how this works in detail…it’s brilliant!), and/or
- specify custom buildout
THIS IS A FANTASTIC DEAL!!!
Watch the video below and FALL IN LOVE with this property…
If you’re ready to take a live tour through the property, feel free to email me or call me at 310-392-0096.
Cheers!
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