On the fence about selling your underwater Los Angeles real estate as a short sale?  Consider this: if your home isn’t sold before January 1, 2013, and you owe $50,000 more than its market value, you could realistically end up paying more than $12,000 in taxes in 2013 if you’re in the 25% tax bracket! Once you decide on going the short sale or foreclosure route—and remember, short sales often take a long time to sell--the first thing you need to do is to request that your lender officially and in writing  waive any deficiency connected with your Los Angeles real estate.  If this waiver is not granted, the lender has 20 years to obtain repayment from you via collection agencies, garnishments, and/or liens.

Because of the impending deadline and the length of time required for short sales and foreclosures, many real estate and financial gurus stress the importance of acting now to set wheels in motions.  They urge distressed owners of Los Angeles real estate to realize that there is no tax exclusion allowed on pending closings/foreclosures.  Only transactions completed by December 31, 2012, are eligible for income tax relief—and there are no indications that the current deadline will be extended!

Tax Form 982, Reduction of Tax Attributes Due to Discharge of Indebtedness (and Section 1082 Adjustment) is used to report the exclusion of forgiveness of qualified principal residence indebtedness.  After your receive Form 1099-C, Cancellation of Debt, from your lender (required by law and submitted to the IRS), download and complete Form 982 and attach it to your tax return.

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Eileen Walsh has a reputation for tough, yet fair, negotiation, and for facilitating real estate transactions to a successful close. She has earned the loyalty of repeat clients who rely on her for all of their real estate needs. Eileen's goals are to ensure Los Angeles real estate sellers that they receive top net dollar for their properties in the shortest amount of time and to help Los Angeles homebuyers find the property which best meets their objectives at the fairest price. 

Empowered with the appropriate people skills, market knowledge, deal-making track record and dedication to her clients, Eileen has shown that she is THE INTELLIGENT CHOICE to represent you in your next Los Angeles real estate transaction.

For more information about buying or selling your Los Angeles home, please call Eileen direct at 310-738-3807 or via email at eileenwalsh.realestate@gmail.com.

Los Angeles had 12,598 foreclosure homes with 1 in every 383 homes receiving a foreclosure filing in December 2011. The average price of a Los Angeles home was $471,176 and the average sales price of a foreclosed home was $281,688, according to RealtyTrac.com, a $189,488 savings.

Los Angeles Foreclosure Activity and 30 Year Interest Rate

The interest rate on a 30 year mortgage was 3.96% in December and there were 2,292 new foreclosures, down from 2,780 in November.

Foreclosure activity is based on the total number of properties that receive foreclosure filings – default notice, foreclosure auction notice or bank repossession – each month. Interest rate is based on the average 30-year fixed rate from Freddie Mac Primary Mortgage Market Survey.

Los Angeles Foreclosure Geographical Comparison

Los Angeles foreclosures were 0.10% above national statistics, 0.13% below California numbers, and 0.07% below Los Angeles County figures in December.

Los Angeles Foreclosure Activity by Month

The number of bank-owned properties increased from 336 in November to 413 in December. Pre-foreclosure activity dropped from 1,169 properties to 690. The number of auctions decreased from 1,275 to 1,189. There is currently a six month 'falling' trend.

Search all Los Angeles homes for sale.

Eileen Walsh has a reputation for tough, yet fair, negotiation, and for facilitating real estate transactions to a successful close. She has earned the loyalty of repeat clients who rely on her for all of their real estate needs. Eileen's goals are to ensure Los Angeles real estate sellers that they receive top net dollar for their properties in the shortest amount of time and to help Los Angeles homebuyers find the property which best meets their objectives at the fairest price. 

Empowered with the appropriate people skills, market knowledge, deal-making track record and dedication to her clients, Eileen has shown that she is THE INTELLIGENT CHOICE to represent you in your next Los Angeles real estate transaction.

For more information about buying or selling your Los Angeles home, please call Eileen direct at 310-738-3807 or via email at eileenwalsh.realestate@gmail.com. 

• Commuting costs and environmental efficiency have increasingly factored into home buying decisions due to higher energy costs, but also due to overall concern for the environment.
• Factors that are most important to buyers are those directly related to the buyers’ pocketbook.
• Heating and cooling costs were at least “somewhat” important to 87 percent of home buyers.
• Commuting costs were at least “somewhat” important to 73 percent of home buyers.

Now take a look at how the Los Angeles real estate market performed in December.

Beverly Hills Real Estate Sales Statistics - Single Family Homes

Beverly Hills Post Office Real Estate Sales Statistics - Single Family Homes

Bel Air Real Estate Sales Statistics - Single Family Homes

Hollywood Hills East Real Estate Sales Statistics - Single Family Homes

Hollywood Hills West Real Estate Sales Statistics - Single Family Homes

West Hollywood Real Estate Sales Statistics - Single Family Homes

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Eileen Walsh has a reputation for tough, yet fair, negotiation, and for facilitating real estate transactions to a successful close. She has earned the loyalty of repeat clients who rely on her for all of their real estate needs. Eileen's goals are to ensure Los Angeles real estate sellers that they receive top net dollar for their properties in the shortest amount of time and to help Los Angeles homebuyers find the property which best meets their objectives at the fairest price. 

Empowered with the appropriate people skills, market knowledge, deal-making track record and dedication to her clients, Eileen has shown that she is THE INTELLIGENT CHOICE to represent you in your next Los Angeles real estate transaction.

For more information about buying or selling your Los Angeles home, please call Eileen direct at 310-738-3807 or via email at eileenwalsh.realestate@gmail.com.

Cleaning supplies. 
While you may be aware of the toxicity of many such products, there are also culprits we don’t know about or which are not listed on labels.  For example, ammonia-based glass cleaners contain a potentially nerve-damaging substance, and, ironically enough, some air fresheners give off naphthalene, a suspected carcinogen. What can you safely use?  In addition to “green” products available for purchase, you can discover the cleaning power of baking soda and soda ash, the ability of borax to remove mold and roaches, and the deodorizing attributes of vinegar and oils of lemon, lavender, and peppermint.

Furniture and flooring. 
Who knew that a piece of new furniture, carpet, or wood flooring could be hazardous to your health?  Each of these can bring gasses, especially formaldehyde, into your Los Angeles CA home.  Items made of MDF and many flooring adhesives emit this gas and can cause breathing problems and eye irritation. What to do?  Look for furniture and flooring labeled formaldehyde-free.  Your might also consider buying used wood items, since they have already been off-gassed.

Plastics. 
Of particular concern is PVC, frequently found in shower curtains, children’s toys, and food containers.  Unfortunately, studies have linked PVC with birth defects and neurological impairment.  How to avoid PVC?  Do not use any #3plastics and look for products labeled PVC free.

Dry cleaning. 
Most traditional dry cleaners use a substance called perchloroethylene (perc), something ofteassociated with headaches, breathing problems, and liver/kidney damage.  Safe alternatives include finding a perc-free establishment or unwrapping your clothes as soon as you bring them home and letting them air out before hanging them in your closet.

Water. 
Like our air, our water is also contaminated with chemical and toxins, especially lead, mercury, and asbestos.  An easy solution is to purchase a water filter, either one that attaches to your faucet or one that services the whole house.

Shoes and paws. 
When you, or your pets, come in from outside, you bring with you not only dirt but also residue from lawn chemicals, automotive fluids, and pesticides.  Simple solutions include wiping your feet on an outside mat before entering the house, leaving your shoes at the door, and wiping your pet’s paws if they look dirty and after you have treated the lawn.

One final tip to combat toxins:  Buy a filter that traps super-small particles and defends against ozone—and change it OFTEN!

Eileen Walsh

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Eileen Walsh has a reputation for tough, yet fair, negotiation, and for facilitating real estate transactions to a successful close. She has earned the loyalty of repeat clients who rely on her for all of their real estate needs. Eileen's goals are to ensure Los Angeles real estate sellers that they receive top net dollar for their properties in the shortest amount of time and to help Los Angeles homebuyers find the property which best meets their objectives at the fairest price. 

Empowered with the appropriate people skills, market knowledge, deal-making track record and dedication to her clients, Eileen has shown that she is THE INTELLIGENT CHOICE to represent you in your next Los Angeles real estate transaction.

For more information about buying or selling your Los Angeles home, please call Eileen direct at 310-738-3807 or via email at eileenwalsh.realestate@gmail.com.

WHAT’S IN:

• Green features:  Energy-efficient appliances, air-tight windows, heating systems, etc., have become expected features..
• Sustainable materials:  The use of stone, terra cotta, bamboo, and cork are popular choices.
• Storage areas:  A garage, preferably a 2 car, is a must, as are walk-in-closets, pantries, and an abundance of storage space.
• Condition:  No fixer-uppers for this year’s buyers.  They are looking for a move-in-ready, well-maintained piece of Los Angeles real estate.
• Layout:  The open layout with few walls is still the most popular, as it allows for casual dining, family gatherings, and large-scale entertaining.
• Luxury touches and the amenities that convey luxury:  High dollar finishes, granite counters, stainless steel appliances, tile baths, counter bars and stools are all desired.
• Outdoor Living:  Screen porches, outdoor kitchens, two-way fireplaces, and the all-important deck or patio add to a home’s appeal.
• Specialized space:  Reflecting today’s lifestyle, high on the wanted list are media and workout rooms.  Some type of foyer or entrance space is also a necessity for today’s buyers.
• Quality bathrooms:  Definitely more than one!  Pedestal sinks; soaking, jetted, and claw foot tubs; and a separate shower and tub are also very popular in the bathroom right now and are what most buyers are going for.

WHAT’S OUT:

• Retro touches:  Features of 1970’s-80’s homes such as avocado appliances, walnut cabinets, and Formica countertops are being shunned this year.
• Dated layout:  Buyers of Los Angeles real estate are giving a “thumbs down” to restrictive layouts and are eschewing bedrooms off living or dining rooms, center dining rooms, and stairways located directly in front of an entrance door.

And topping the list:  Since this is still decidedly a buyer’s market, the most desired feature this year is a bargain, be it in price or incentives, or both.

Search all Los Angeles homes for sale.

Eileen Walsh has a reputation for tough, yet fair, negotiation, and for facilitating real estate transactions to a successful close. She has earned the loyalty of repeat clients who rely on her for all of their real estate needs. Eileen's goals are to ensure Los Angeles real estate sellers that they receive top net dollar for their properties in the shortest amount of time and to help Los Angeles homebuyers find the property which best meets their objectives at the fairest price. 

Empowered with the appropriate people skills, market knowledge, deal-making track record and dedication to her clients, Eileen has shown that she is THE INTELLIGENT CHOICE to represent you in your next Los Angeles real estate transaction.

For more information about buying or selling your Los Angeles home, please call Eileen direct at 310-738-3807 or via email at eileenwalsh.realestate@gmail.com.

REASONS F0R A LOW APPRAISAL:

• Overpricing by seller
• Declining market values
• An abundance of foreclosures or short sales in the neighborhood
• Inflated price resulting from multiple offers
• Incorrect evaluation by the appraiser
• Cash back to buyer from the seller
• Error(s) on the part of the appraiser

WHAT A SELLER CAN DO:

• Lower the price of the Los Angeles real estate.  After researching and analyzing the latest comps with your Realtor, realistically reconsider your asking price and decide whether you are willing to begin the selling process all over again.
• Offer to carry a second mortgage for the buyer if the above option is not possible.
• Ask the buyer to make up the difference in cash

WHAT A BUYER CAN DO:.

• Ask the seller to lower the price.
• Ask the lender for a new appraisal after presenting your justification for this request.

OPTIONS AVAILABLE TO BOTH SELLER AND BUYER:

• Check the appraiser’s report for errors (in facts or omission) in information about the Los Angeles real estate.  Verify the accuracy of the square footage, the number of bedrooms and bathrooms.  Have any recent improvements you’ve made to the property been included?  If not, appeal the appraisal.
• Supply to the underwriter a list of recent comparable sales that justify the selling/purchase price and ask for a review of the appraisal.
• Order a new appraisal.  Although you will have to pay for it, it could be money well spent if it results in a higher appraisal. Your lender will give you a list of appraisers if the loan is an FHA one.  If it’s conventional, it is subject to the rules of the Home Valuation Code of Conduct (HVCC).
• As a last resort, cancel the transaction.  Most purchase contracts contain a loan contingency which deals with low appraisals.

Search all Los Angeles homes for sale.

Eileen Walsh has a reputation for tough, yet fair, negotiation, and for facilitating real estate transactions to a successful close. She has earned the loyalty of repeat clients who rely on her for all of their real estate needs. Eileen's goals are to ensure Los Angeles real estate sellers that they receive top net dollar for their properties in the shortest amount of time and to help Los Angeles homebuyers find the property which best meets their objectives at the fairest price. 

Empowered with the appropriate people skills, market knowledge, deal-making track record and dedication to her clients, Eileen has shown that she is THE INTELLIGENT CHOICE to represent you in your next Los Angeles real estate transaction.

For more information about buying or selling your Los Angeles home, please call Eileen direct at 310-738-3807 or via email at eileenwalsh.realestate@gmail.com.

Used the online checklist available from the FTC to make sure the job is complete and done to your satisfaction.

• Obtained proof that subcontractors and suppliers have been paid by the contractor.  (If not, they can place a lien on your Los Angeles home.)
• Received written warranties for materials and work.
• Made sure the job site has been satisfactorily cleaned and cleared of materials.
• Inspected the completed work to verify that it meets contract standards and specifications.

If you have a problem with any of these aspects, consider taking the steps listed below to remedy the situation.  In all negotiations, act amicably and fairly and keep a positive attitude.  Even though you may be quite upset, it is best to keep your emotions in check and follow a path of calm restraint in your dealings, Again, keep a record of all conversations and follow up these communications with a certified, return receipt-requested letter.

• Try first to resolve the problem with the person who was in charge of the project on your Los Angeles home.  Generally, contractors want satisfied customers to ensure a good reputation and positive word-of-mouth comments.
• If this attempt is unsuccessful, think about contacting another profession (the architect, e.g.) who is familiar with the project.
• Still unresolved?  Gather all your documents, logs, photos, and cancelled checks.  Notify the contractor via certified letter that you have done so and give him a reasonable time—and specific date—to rectify the situation.
• If these actions do not bring about the desired result, and you still have unsettled issues, contact the Better Business Bureau.  You can also report the contractor to your state licensing board.  Each of these organizations provides mediation services for situations such as yours.
• As a last resort, you may have to contact an attorney to bring the issue to court.  Remember, however, that most home contractors will want to resolve the conflict before you exercise this option.

Hiring A Contractor To Improve Your Los Angeles Home - Part I
Hiring A Contractor To Improve Your Los Angeles Home - Part 11

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Eileen Walsh has a reputation for tough, yet fair, negotiation, and for facilitating real estate transactions to a successful close. She has earned the loyalty of repeat clients who rely on her for all of their real estate needs. Eileen's goals are to ensure Los Angeles real estate sellers that they receive top net dollar for their properties in the shortest amount of time and to help Los Angeles homebuyers find the property which best meets their objectives at the fairest price. 

Empowered with the appropriate people skills, market knowledge, deal-making track record and dedication to her clients, Eileen has shown that she is THE INTELLIGENT CHOICE to represent you in your next Los Angeles real estate transaction.

For more information about buying or selling your Los Angeles home, please call Eileen direct at 310-738-3807 or via email at eileenwalsh.realestate@gmail.com.

Los Angeles had 14,930 foreclosure homes with 1 in every 316 homes receiving a foreclosure filing in November 2011. The average price of a Los Angeles home was $448,946 and the average sales price of a foreclosed home was $302,614, according to RealtyTrac.com, a $146,332 savings.

Los Angeles Foreclosure Activity and 30 Year Interest Rate

The interest rate on a 30 year mortgage was 3.99% in November and there were 2,780 new foreclosures.

Foreclosure activity is based on the total number of properties that receive foreclosure filings – default notice, foreclosure auction notice or bank repossession – each month. Interest rate is based on the average 30-year fixed rate from Freddie Mac Primary Mortgage Market Survey.

Los Angeles Foreclosure Geographical Comparison

Los Angeles foreclosures were 0.15% above national statistics and 0.15% below California numbers, and 0.07% below Los Angeles County figures in November.

Los Angeles Foreclosure Activity by Month

The number of bank-owned properties decreased from 365 in October to 336 in November. Pre-foreclosure acitivity rose from 1,120 properties to 1,169. The number of auctions increased from 743 to 1,275. There is currently a six month 'falling' trend.

Are you or someone you know behind on your mortgage payments and facing a foreclosure? You do have options. A short sale may be the answer to saving you, your family and your home. I am a Certified Distressed Property Expert (CDPE). Give me a call for a private consultation. 

While we all need a certain amount of stress to spur us on and help us perform at our best, the key to managing stress lies in that one word: balance. Achieving a healthy work/life balance an attainable goal, but in order to do so you must make changes in your life.  Following are a few tips to ensure success:

Leave your work at work:  Use your commuting time to transition from work to home.  Rather than think about problems at work, shift gears and concentrate on your family responsibilities or enjoyable activities which await you at your Los Angeles real estate. You can also use commuting time to unwind by listening to music or a book.  Change your clothes when you arrive home to strengthen the notion of being away from work.  Resist the urge to check any and all electronic devices for work related messages.

Inquire about flextime or telecommuting:  It just may be that your boss will recognize that you can do your work at different times or from different places.

Learn to say “NO” on occasion:  Be it for work or for home, you don’t always have to be the one to “step up to the plate” and volunteer for yet another responsibility.

Make time in your schedule for physical activity and fun:  Every Los Angeles real estate owner knows that keeping fit by exercising and eating healthy foods is a remedy for stress and/or depression, but too many of us don’t make a concentrated effort to write in our calendars—in  ink—specific visits to the gym.  Consider, too, the benefits of taking up a new hobby, such as cooking, scrapbooking, or archery, that you can enjoy individually or with family or friends. 

If you have already tried most of the above recommendations but have still not succeeded in balancing the roles in your life, you might ponder this thought by author Jon Gordon and read his new book:  “Personally, I have never been able to balance the scales of work and life on a day-to-day basis. Rather, I’ve come to realize that the dance between work and life is more about rhythm than balance.

Search all Los Angeles homes for sale.

Eileen Walsh has a reputation for tough, yet fair, negotiation, and for facilitating real estate transactions to a successful close. She has earned the loyalty of repeat clients who rely on her for all of their real estate needs. Eileen's goals are to ensure Los Angeles real estate sellers that they receive top net dollar for their properties in the shortest amount of time and to help Los Angeles homebuyers find the property which best meets their objectives at the fairest price. 

Empowered with the appropriate people skills, market knowledge, deal-making track record and dedication to her clients, Eileen has shown that she is THE INTELLIGENT CHOICE to represent you in your next Los Angeles real estate transaction.

For more information about buying or selling your Los Angeles home, please call Eileen direct at 310-738-3807 or via email at eileenwalsh.realestate@gmail.com.

1.  Down payments:  To get the best interest rate you need to put down at least 20% of the purchase price of the Los Angeles real estate.  FHA loans are available for a down payment of 3% to 5%, but these loans will include additional costs for insurance and a slightly higher interest rate.

2.  Credit scores:  You will most likely need a score of 730 for the best rates, whereas the average score for FHA borrowers is about 690.  Financial advisors strongly urge you to obtain a copy of your credit report six months before loan shopping.  Go online for your free credit report from each of the three bureaus and examine it carefully to detect any errors/misinformation.

3.  Documentation:  Be prepared!  Lenders will ask for a great deal of documentation regarding your salary, savings, job stability, debts, and the like.  You will need to provide pay stubs for the past 30 days; W-2 forms for the past two years; bank, retirement, and investment account statements; and a listing of debts and monthly expenses.  If you are self-employed, you will also have to submit two years of tax returns and possibly a profit-loss statement.

4.  Debt-to-income ratio:  This ratio compares the gross amount of money you earn to the amount you owe to creditors (mortgage payment, car loans, credit card payments, etc.).  Monthly housing expenses should not exceed 28% of your gross monthly income, and total debt should be less than 36% of that amount, the lower the number, the better.  To figure your own ratio, use an online calculator.

5.  Appraisals:  Lenders today want a thorough inspection of both the interior and exterior or your Los Angeles real estate, and the less money put down, the more extensive the scrutiny of the home’s market value.  It is wise to include an appraisal contingency in your offer so that your earnest money deposit will be returned to you if the appraisal fails to meet the negotiated price.

How can you find the best rates?  Check out this free site that updates available interest rates daily and discloses the best “par rate” in your area. 

Search all Los Angeles homes for sale.

Eileen Walsh has a reputation for tough, yet fair, negotiation, and for facilitating real estate transactions to a successful close. She has earned the loyalty of repeat clients who rely on her for all of their real estate needs. Eileen's goals are to ensure Los Angeles real estate sellers that they receive top net dollar for their properties in the shortest amount of time and to help Los Angeles homebuyers find the property which best meets their objectives at the fairest price. 

Empowered with the appropriate people skills, market knowledge, deal-making track record and dedication to her clients, Eileen has shown that she is THE INTELLIGENT CHOICE to represent you in your next Los Angeles real estate transaction.

For more information about buying or selling your Los Angeles home, please call Eileen direct at 310-738-3807 or via email at eileenwalsh.realestate@gmail.com. 

December 20 -28.  Hanukkah (or any one of a dozen spellings). 

This  Festival of Lights is an eight-day Jewish holiday commemorating the rededication of the Holy Temple in Jerusalem at the time of the Maccabean revolt of the second century BCE. Hanukkah is observed for eight nights and days, starting on the 25th day of Kislev according to the Hebrew calendar, which may occur at any time from late November to late December in the Gregorian calendar. The festival is observed by the ;lighting of the candles on a nine-branched menorah, one candle on each night of the holiday, progressing to eight on the final night, and it is customary to give children one gift (gelt) each night.  Although it is based on a military victory, it is actually considered a time to celebrate Jewish independence and religious freedom in general.  Hanukkah is a relatively minor holiday in the Jewish year; in the United States, however, its closeness to Christmas has brought greater attention to Hanukkah and its gift-giving, special foods, and games.

December 25.  Christmas

The religious basis:   Christmas is a Christian holy day which celebrates the birth of Jesus Christ. It is typically celebrated on December 25^th, and the word Christmas comes from "Christ's mass." The story of the birth of Christ is told in the opening chapters of the gospels of Luke and John.  Each contains different elements of the Christmas story. The visit of the Archangel to the shepherds and the birth of Jesus in a manger are from Luke. The story the visit from the Wise Men bringing gifts of gold, frankincense, and myrrh are from Matthew.

Over the years Christmas has also become a very popular social holiday with an emphasis on lighted and decorated trees and wreaths, exchange of presents, caroling, special foods, and the colors red and green.  Christmas traditions abound throughout the Western world, many of which have secular origins, some with their roots in ancient folklore and pagan beliefs. Click here to learn about a wide range of Christmas customs.

December 26-January 1. 

Kwanzaa.  Neither political nor religious, Kwanzaa is a reflective holiday which was created in the 1960’s to foster pride and unity among African-Americans.  Kwanzaa is a week -long celebration honoring universal African-American heritage, family life, and culture. It features activities such as lighting a candle holder with seven candles—each representing an important principle of life--and culminates in a feast and gift giving.  Visit Wikipedia for much more information about this holiday

December 31.  New Year’s Eve. 

New Year's Eve is a social holiday observed annually on December 31, the final day of any given year in the Gregorian calendar. In modern societies New Year's Eve is often celebrated at festive gatherings, during which participants dance, eat, consume alcoholic beverages, and watch or light fireworks to say goodbye to the current year and celebrate the incoming one. The observance of New Year's Eve generally extends through midnight of January 1.  It is a holiday celebrated throughout the world and has many different names.  The dropping of the ball in Times Square and the singing of Auld Lang Syne are symbolic of this holiday in the U.S.           

Here are outstanding power point presentations dealing with each of these holidays. Although the site is designed primarily for children, the extensive array of topics and interesting information provides excellent reading for adults, too.

Happy Holidays!!

OUTSIDE:

• Clean the gutters.  Click here for tips on doing this quickly and safely.
• Clean and oil garden tools.
• Mulch around shrubs and trees.
• Start a compost pile with raked leaves.
• Download this printable to-do list for gardeners which covers the care of shrubs and trees, lawns, perennials and bulbs, clean-up, and maintenance.
• View this YouTube video to assist you in trimming your Los Angeles home with lights and check out this website to learn how to wrap trees and bushes.  (Check all lights for defects before using them.)

INSIDE:

• Change the HVAC filter.
• Check all smoke detectors.
• Clean your oven.
• Make certain your fireplace is clean and in good working order.
• Click here for tips about safely putting lights on the tree in your Los Angeles home.
• Buy and put up the tree.
• Check lists for menus, gifts, etc.
• Decorate the house.
• Look under sink cabinets to check for moisture and/or leaks.
• Having guests? Clean out the guest room (or space). Dust, vacuum, change linens. Prepare a care package of whatever you think your guest might enjoy. Spend the night in your guest room to make sure it´s comfortable.
• Evaluate the amount of moisture in your home. Low moisture content in the air can cause excessive static electricity, dry coughs, and problems with your sinuses in the coldest parts of the winter. Consider purchasing a humidifier—cost ranges between $30 and $150.  (Old home remedy trick: hang a sheet or towel in the shower area and keep it wet and the shower curtain open. Moisture then evaporates and gets into the air. Swap out the sheet or towel at least every week. This trick may make the coldest, driest months more comfortable.)
• Check your roof for broken or missing shingles.

Although this list is long, the tasks are actually rather short and just may allow you time to rest, relax, and enjoy the month’s activities.

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Eileen Walsh has a reputation for tough, yet fair, negotiation, and for facilitating real estate transactions to a successful close. She has earned the loyalty of repeat clients who rely on her for all of their real estate needs. Eileen's goals are to ensure Los Angeles real estate sellers that they receive top net dollar for their properties in the shortest amount of time and to help Los Angeles homebuyers find the property which best meets their objectives at the fairest price. 

Empowered with the appropriate people skills, market knowledge, deal-making track record and dedication to her clients, Eileen has shown that she is THE INTELLIGENT CHOICE to represent you in your next Los Angeles real estate transaction.

For more information about buying or selling your Los Angeles home, please call Eileen direct at 310-738-3807 or via email at eileenwalsh.realestate@gmail.com. 

Whichever contract form you decide on, it should be written in clear, concise language and should contain:

• The contractor’s name, address, phone, and license number
• The payment schedule for the contractor, subcontractors, and suppliers.
• An estimated start and completion date.
• The contractor’s obligation to obtain all necessary permits.
• How change orders will be handled. A change order — common on most remodeling jobs — is a written authorization to the contractor to make a change or addition to the work described in the original contract. It could affect the project’s cost and schedule. Remodelers often require payment for change orders before work begins.
• A detailed list of all materials including color, model, size, brand name, and product.
• Warranties covering materials and workmanship of the job on your Los Angeles home.  The names and addresses of the parties honoring the warranties — contractor, distributor or manufacturer — must be identified. The length of the warranty period and any limitations also should be spelled out.
• What the contractor will and will not do. For example, is site clean-up and trash hauling included in the price? Ask for a "broom clause." It makes the contractor responsible for all clean-up work, including spills and stains.
• Oral promises also should be added to the written contract.

A written statement of your right to cancel the contract within three business days if you signed it in your home or at a location other than the seller’s permanent place of business. During the sales transaction, the contractor must give you two copies of a cancellation form (one to keep and one to send back to the company) and a copy of your contract or receipt. The contract or receipt must be dated, show the name and address of the seller, and explain your right to cancel.

As the work on your Los Angeles home proceeds, be sure to personally check on its quality and progress and keep all paperwork, a written log of all payments, phone calls and oral conversations, and a timeline of activities.  Taking photos showing the progression of the job is also a good idea.  These records will be useful in the case of a dispute.

Search all Los Angeles homes for sale.

Eileen Walsh has a reputation for tough, yet fair, negotiation, and for facilitating real estate transactions to a successful close. She has earned the loyalty of repeat clients who rely on her for all of their real estate needs. Eileen's goals are to ensure Los Angeles real estate sellers that they receive top net dollar for their properties in the shortest amount of time and to help Los Angeles homebuyers find the property which best meets their objectives at the fairest price. 

Empowered with the appropriate people skills, market knowledge, deal-making track record and dedication to her clients, Eileen has shown that she is THE INTELLIGENT CHOICE to represent you in your next Los Angeles real estate transaction.

For more information about buying or selling your Los Angeles home, please call Eileen direct at 310-738-3807 or via email at eileenwalsh.realestate@gmail.com.

According to Lendingtree there are five strong reasons to buy Los Angeles real estate during this season:

• Lower prices. Because many people are too busy to house hunt now, the slackening of demand is reflected in softer house prices.
• Less competition. With fewer active house-hunters out there, you are unlikely to end up in a bidding war, and sellers will be willing to negotiate.
• Favorable mortgage terms. Because there is less demand for mortgage money during the holiday season, lenders may be willing to shave a few basis points off the interest rate or to forgo some of their fees in order to get your business.
• Tax deduction. If you close on or before December 31, you are likely to be eligible to deduct the interest component of your first monthly mortgage payment and any money you paid for points from your taxable income for this year.

If you’re a seller, check out Realtor.om for a long list of reasons that support their belief that December is a good time to sell your Los Angeles real estate.  Some of their arguments include:

• Less competition.  People who look at your home over the holidays are serious buyers who have fewer homes from which to choose.
• Business moves.  January is traditionally a month where employers have to move so they can’t wait until spring.  They have to buy now-- you’re there to capture that market.
• Advantage for you.  By selling now, you have the opportunity to be a non-contingent buyer for next year when houses are less and you’ll have more opportunities and properties to choose from.
• Timing.  Many potential buyers want to settle before the end of the year for tax reasons.

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Eileen Walsh has a reputation for tough, yet fair, negotiation, and for facilitating real estate transactions to a successful close. She has earned the loyalty of repeat clients who rely on her for all of their real estate needs. Eileen's goals are to ensure Los Angeles real estate sellers that they receive top net dollar for their properties in the shortest amount of time and to help Los Angeles homebuyers find the property which best meets their objectives at the fairest price. 

Empowered with the appropriate people skills, market knowledge, deal-making track record and dedication to her clients, Eileen has shown that she is THE INTELLIGENT CHOICE to represent you in your next Los Angeles real estate transaction.

For more information about buying or selling your Los Angeles home, please call Eileen direct at 310-738-3807 or via email at eileenwalsh.realestate@gmail.com.

FINDING A CONTRACTOR: 

To locate a reputable contractor who will deliver quality work on time and within budget, first ask friends, family members, neighbors, and real estate brokers for recommendations.  Other sources include www.angielist.com, a site which features reviews of improvement contractors written by actual clients, and www.freecontractormatch.com which will direct you to contractors by type and location.

VERIFYING CREDITIALS: 

Once you have the names of three or four potential contractors, check with your local Better Business Bureau to check on complaints against the firm.  You also need to confirm that the contractor is registered with the state and licensed and that he carries the required insurance.  License information may be obtained from the Department of Labor and Industry online or by calling 651-284-5065.  Any contractor working in your Los Angeles ­­­­­­home should have personal liability, worker’s compensation, and property damage coverage.  You might also contact the Contractors State Licensing Board to check out credentials.  This site also provides a checklist and suggestions for prescreening contractors to help you decide if a particular contractor is right for you.

INTERVIEWING PROSPECTS: 

Questions which you should ask include the following:

• How long have you been in business?
• What permit is required—and will you obtain it?
• Will you be using subcontractors?
• Will you (and your subcontractors) sign a lien waiver?
• Do you offer a warranty on your workmanship and materials?
• Will you give me references?  (Names, phone numbers, and even photos, if available.)
• What are you working on now?  May I visit that site?
• How have you handled customer complaints?

TALKING MONEY: 

In addition to requesting a bid for all expenses involved in the work on your Los Angeles home, you will also want to determine in advance the required down payment.  Some municipalities have a limit on the amount which can be charged; contact your local consumer affairs agency for this information.  In any event, you should not put more than 25% down, and you should never pay in cash! You should also insist on a reasonable payment plan and try to make those payments contingent on the completion of a certain amount of work.

Coming in PART II—drawing up a contract and dealing with problems.

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Eileen Walsh has a reputation for tough, yet fair, negotiation, and for facilitating real estate transactions to a successful close. She has earned the loyalty of repeat clients who rely on her for all of their real estate needs. Eileen's goals are to ensure Los Angeles real estate sellers that they receive top net dollar for their properties in the shortest amount of time and to help Los Angeles homebuyers find the property which best meets their objectives at the fairest price. 

Empowered with the appropriate people skills, market knowledge, deal-making track record and dedication to her clients, Eileen has shown that she is THE INTELLIGENT CHOICE to represent you in your next Los Angeles real estate transaction.

For more information about buying or selling your Los Angeles home, please call Eileen direct at 310-738-3807 or via email at eileenwalsh.realestate@gmail.com.

Los Angeles had 64,932 foreclosure homes with 1 in every 296 homes receiving a foreclosure filing in October 2011. The average price of a Los Angeles home was $431,074 and the average sales price of a foreclosed home was $284,996, according to RealtyTrac.com, a $146,075 savings.

Los Angeles Foreclosure Activity and Home Price Index

There were 11,498 foreclosures in October while price appreciation was 0.00%.

Los Angeles County foreclosure activity is based on the total number of properties that receive foreclosure filings - default notice, foreclosure auction notice or repossession notice - each month. Home price appreciation is based on month-over-month percentage change of the Home Price Index. The Home Price Index is calculated from home sales records.  

Los Angeles Foreclosure Geographical Comparison

Los Angeles foreclosures were 0.16% above national statistics and 0.07% below California numbers in October.

Los Angeles Foreclosure Activity by Month

The number of bank-owned properties increased from 1,993 in September to 2,017 in October. Pre-foreclosure acitivity rose from 5,838 properties to 5,921. The number of auctions decreased from 3,728 to 3,560. There is currently a six month 'falling' trend.

Are you or someone you know behind on your mortgage payments and facing a foreclosure? You do have options. A short sale may be the answer to saving you, your family and your home. I am a Certified Distressed Property Expert (CDPE). Give me a call for a private consultation. 

1. Do your homework!  According to Rob Friedman, chairman of Real Estate Distribution Corp., the potential auction bidder has to “set out to quantify risk, inspect the property well, and then quantify the necessary repairs and run price comparisons…in the neighborhood so you’ll know the values.”
2. Locate possible properties.  There are many on-line sites which are either free or charge a small fee to give you access to lists of foreclosed Los Angeles homes for sale.  You can also contact your city of county government offices or consult the real estate section of your local newspaper.  Experts advise you to find as many as ten properties to check out rather than concentrate on just one.
3. Research the market.  You will need to ascertain how much is owed on the house and if there are any liens on it.  (Public records have this type of information available.)  The priority of a lien is usually determined by its date, so the first mortgage will have priority, and all other liens will be considered junior liens, which, with the exception of tax liens, will most likely be cleared at auction.  Look at neighborhood comps (including auction-bought and short sale Los Angeles homes) for the past three months to come up with a realistic market value for the property.  Check, too, the area’s rate of appreciation and the added value of repairs and improvement. 
4. Prepare for the auction.  The first order of business is to determine your bid amount based on the above information and your financial capability.  Generally speaking state, a reasonable purchase amount is at least 20% below full market value.  Check in advance for requirements regarding method of payment, as some states require cash or certified checks for the full amount while others need only a 10% down payment.  Attend an auction as an observer only to familiarize yourself with practices and procedures.  Call beforehand to verify the date, location, and time.  And, arrange for a veteran contractor to accompany you to access the condition of the house and estimate the cost of necessary repairs.
5. Attend the auction.  Arrive early with a set limit in place.  Don’t let other participants dictate how much you bid—and don’t get caught up in the excitement of a bidding war!  Some veterans advise that you wait until the bids begin to die down before making yours.  If you’re interested in more than one Los Angeles home, Friedman suggests bringing detailed information and photos of each one to avoid confusion.
6. Take ownership.  Collect all documents which verify that you are the winning bidder.  Clarify with the auctioneer and a real estate attorney what further steps you need to take and when your ownership becomes official.  Do not begin to make repairs until you are sure you are the registered owner!  If the property has occupants, find out who is responsible for evicting them.

Search all Los Angeles homes for sale.

Eileen Walsh has a reputation for tough, yet fair, negotiation, and for facilitating real estate transactions to a successful close. She has earned the loyalty of repeat clients who rely on her for all of their real estate needs. Eileen's goals are to ensure Los Angeles real estate sellers that they receive top net dollar for their properties in the shortest amount of time and to help Los Angeles homebuyers find the property which best meets their objectives at the fairest price. 

Empowered with the appropriate people skills, market knowledge, deal-making track record and dedication to her clients, Eileen has shown that she is THE INTELLIGENT CHOICE to represent you in your next Los Angeles real estate transaction.

For more information about buying or selling your Los Angeles home, please call Eileen direct at 310-738-3807 or via email at eileenwalsh.realestate@gmail.com.

EHLP provides emergency mortgage payment relief to eligible owners of Los Angeles real estate who have suffered a drop of at least 15% in income.  Such funds are limited to those having a total income of $75,000 or less or 120% of the Area Median Income (AMI) for a four person household.  Applicants for the program must be at least three months delinquent in mortgage payments and have received notification of their lender’s intent to foreclose on their property.

Potential recipients of EHLP assistance must also have a reasonable likelihood of being able to resume making their payments within 2 years and meet other debt obligations when their income rises above 85% of the previous level.  Additionally, recipients must reside in their Los Angeles real estate as their primary residence at the time of application and for the duration of the loan.  HUD predicts that it can aid up to 30,000 distressed homeowners by providing interest-free loans averaging $35,000 (limit is $50,000).

On another front, the Obama Administration recently announced a second plan to assist unemployed owners of Los Angeles real estate.  This policy affects the FHA’s Special Forbearance Program by requiring lenders/servicers of the Making Homes Affordable Program (click here for specifics of  MHA) to extend the current forbearance period of 3 or 4 months to 12 months whenever possible.  The program will also reduce upfront obstacles in order to make the qualifying process easier for applicants.  The intent of this plan is to allow more time for distressed homeowners to find employment.  As HUD Secretary Shaun Donovan explains, “Today, 60% of the unemployed have been out of work for more than 3 months and 45% have been out of work for more than 6.  Providing the option for a year of forbearance will give struggling homeowners a substantially greater chance of finding employment before they lose their home.”

We can only hope!

Search all Los Angeles homes for sale.

Eileen Walsh has a reputation for tough, yet fair, negotiation, and for facilitating real estate transactions to a successful close. She has earned the loyalty of repeat clients who rely on her for all of their real estate needs. Eileen's goals are to ensure Los Angeles real estate sellers that they receive top net dollar for their properties in the shortest amount of time and to help Los Angeles homebuyers find the property which best meets their objectives at the fairest price. 

Empowered with the appropriate people skills, market knowledge, deal-making track record and dedication to her clients, Eileen has shown that she is THE INTELLIGENT CHOICE to represent you in your next Los Angeles real estate transaction.

For more information about buying or selling your Los Angeles home, please call Eileen direct at 310-738-3807 or via email at eileenwalsh.realestate@gmail.com.

PRICE IT RIGHT FROM THE START:

Since the greatest number of showings will occur in the first two to three weeks of the listing, it is important that you set the price (based on comparables and advice of your Realtor) competitively at the outset. Lowering the price after the initial listing only wastes time and costs you potential buyers.

BE PREPARED TO LOSE SOME MONEY: 

Understand that this is a market based on supply and demand and that you just may not be able to sell for the appraised value of your Los Angeles home or even what you paid for the property a few years ago. The market value of your home today is what a buyer is willing to pay, so unless you want to hold on to your home until the market improves, be prepared for the possibility that you may be the one bringing money to table.

ACTIVELY PROMOTE YOUR HOME: 

Ask potential Realtors you interview how they plan you market your home--and to whom? If it is a starter-home that will appeal to the younger set, then take advantage of technology such as smart phones, attractive photos on the internet, and sites that contain information that potential buyers can access electronically. And don’t forget the old-fashioned word-of-mouth approach. Spread the word among friends, family, coworkers, etc., and ask them to do the same.

OFFER INCENTIVES: 

Today’s sellers are turning more and more to finding ways to create interest in their property and motivate hesitant buyers. Since builders of new homes offer such incentives, it is becoming commonplace for sellers to do the same. Examples of incentives include:

• Paying points will reduce the buyer’s upfront cost and appeals to the cash-conscious.
• Buying down the interest rate: Offering to pay discount points to lower the buyer’s I interest rate will make your home more affordable, and thus more appealing.
• Paying for some or all closing costs: By doing this you are once again decreasing the amount of upfront cash needed by a buyer. You can determine the mount you will contribute or the items you will cover.
• Providing a home warranty: If you are competing with newer properties, a home warranty will give the buyer some insurance against costly repairs during the first year or two. Such an offering is a relatively inexpensive but is appealing to a concerned consumer.

Note: If you do offer incentives of any kind, make sure that they are included in your real estate listing.

MAKE YOUR HOME MOVE-IN READY: 

Generally speaking, today’s buyers of a Los Angeles home are not looking for a fixer-upper or even for a property that requires any work at all. Their busy schedules motivate them to purchase a house that needs no effort or expense on their part. That isn’t to say that you have you have to make major upgrades, but you do need to make any necessary repairs, complete any projects you may have started, and consider brightening the interior up with fresh pain and new flooring.

Search all Los Angeles homes for sale.

Eileen Walsh has a reputation for tough, yet fair, negotiation, and for facilitating real estate transactions to a successful close. She has earned the loyalty of repeat clients who rely on her for all of their real estate needs. Eileen's goals are to ensure Los Angeles real estate sellers that they receive top net dollar for their properties in the shortest amount of time and to help Los Angeles homebuyers find the property which best meets their objectives at the fairest price. 

Empowered with the appropriate people skills, market knowledge, deal-making track record and dedication to her clients, Eileen has shown that she is THE INTELLIGENT CHOICE to represent you in your next Los Angeles real estate transaction.

For more information about buying or selling your Los Angeles home, please call Eileen direct at 310-738-3807 or via email at eileenwalsh.realestate@gmail.com.

Good debts are those which can be looked at as investments and those which will contribute to your overall financial health.  The best example of good debt has been for many years the purchase of a Los Angeles home and is still considered as such by many.  Another good debt would include a student loan to finance higher education.   Financing a car is also perceived as good debt provided that you make as large a down payment as you can reasonably afford and that you intend to keep the vehicle as long as you are paying for it. Generally speaking, good debt includes the purchase of items which you could not afford without wiping out your cash reserves or liquidating your investments.

On the other hand, bad debt occurs when you borrow to purchase a consumable item without fully comprehending the influence of that purchase on your financial well-being.  Excessive credit card use is an excellent example of bad debt, especially given the high interest rates charged.  One obvious flaw in the credit card system is that it encourages users to purchase things they can’t really afford, a posh vacation or the addition of a pool for their Los Angeles home  e.g., without having to pay for them at the time.  It goes without saying that payday loans and paying pawn shop interest are very poor—and costly—practices which should be avoided entirely.

How to manage your debt?  You can begin by figuring out your credit utilization or your debt-to-credit ratio, which tells you how much you have borrowed of the total amount available to you.  The lower the percentage, the better for your credit rating.  Creating a plan to pay off your bad debts, especially those with high interest rates, is another important step in achieving financial stability.  Many financial counselors urge borrowers to pay off credit cards and car loans before considering taking on student debt or a mortgage for a Los Angeles home.  Another strong caveat is not to pay off one loan with another, such as using a home equity loan to repay bad debt.  The best practice is to use cash to pay off debt.  One way to increase your available cash is to analyze your spending pattern and carefully monitor unnecessary expenses.  Other suggestions for managing debt include taking steps to lower household bills, refinancing a mortgage for a lower interest rate, and requesting a reduced rate of interest from credit card companies.

Search all Los Angeles homes for sale.

Eileen Walsh has a reputation for tough, yet fair, negotiation, and for facilitating real estate transactions to a successful close. She has earned the loyalty of repeat clients who rely on her for all of their real estate needs. Eileen's goals are to ensure Los Angeles real estate sellers that they receive top net dollar for their properties in the shortest amount of time and to help Los Angeles homebuyers find the property which best meets their objectives at the fairest price. 

Empowered with the appropriate people skills, market knowledge, deal-making track record and dedication to her clients, Eileen has shown that she is THE INTELLIGENT CHOICE to represent you in your next Los Angeles real estate transaction.

For more information about buying or selling your Los Angeles home, please call Eileen direct at 310-738-3807 or via email at eileenwalsh.realestate@gmail.com.