Real Estate News

This warm and inviting waterfront beach home is completely remodled with character and charm, situated on the highly desired Venice Canals. Located on the waterfront, this property is a rare find zoned for 2 units and is easily transferable to a Single Family Residence. Totally transformed by current owner, this home is filled with sunshine and boasts a magnificent floor plan. Featuring hardwood floors, a gourmet kitchen and a waterfront patio perfect for entertaining guests or relaxing after a long day. <hr>

Freddie Mac and Fannie Mae have developed a new loan modification options for financially distressed homeowners that may begin as soon as October 1, 2011. The new program has been dubbed the “Standard Modification”. The Standard Modification has been designed for borrowers that have proven to be ineligible for a home affordable modification (HAMP) or have defaulted on a trial payment for a previous modification. Highlights of this program include reducing mortgage principal and monthly payment amounts by at least 10% each.

Los Angeles, California – October 24th, 2011  Mortgage servicers and banks have increased their efforts against homeowners that have fallen behind on their payments in what looks to be a new wave of foreclosures.  According to Realty Trac Inc., the number of US homes that received an initial default notice, the first step in the foreclosure process, jumped 33% in August from July.

Charming Spanish style retreat located in a highly desired quiet area of Mar Vista. This lovely home demostrates the definition of pride of ownership. Property is situated on a corner lot with lush green landscaping. Remodeled kitchen boasts stainless steel appliances and open floor plan. Spacious living and dining room with vaulted cielings and hardwood floors. Backyard offers a beautifully landscaped sitting area and play area with grass.

Property Details – Mar Vista Home

Property Pictures

According to the research gathered by core logic and analyzed by Allen Brodetsky, President of ASB Capital & Boutique Realty, almost 11,000,000 properties, which equates to roughly 22.5% of all US homes, have negative equity in their home.

Alarming Real Estate Trend on the Horizon

The first two quarters of fiscal year 2011 have shown a declining trend in foreclosures. This can be attributed to the Robo signing fiasco with many of the major lending institutions. That story is now behind us. Many mortgage lenders including Bank of America, the nation’s leading mortgage servicer, have fired up there foreclosure machines and are beginning to replenish their supplies of real estate owned properties. Postponing foreclosure sale dates has become increasingly difficult if not impossible. Core logic researchers have found that nearly 3/4 of all underwater borrowers are paying above market interest rates on their home loans. The chance for borrowers to endure negative equity is increasing day by day. JP Morgan Chase analysts expect home prices to drop another 5% by the beginning of 2012.

ASB Capital is proud to announce that Allen Brodetsky, as of 9/14/2011 has officially become a HOME AFFORDABLE FORECLOSURE ALTERNATIVES (HAFA) specialist.  For homeowners currently under the threat of foreclosure HAFA becomes a powerful weapon in your arsenal to help save your home.  Time is of the essence…please contact Allen Brodetsky of ASB Capital Group today to see if you qualify.

Phone – 818-881-8883

Email – allen@fundwithme.com

Take a look at your property tax bill.  You may find common errors that are affecting your tax bill.  Start off by double checking the assessor’s tax records. Confirm your square footage, bedroom and bathroom count.  Often times homeowners point out errors in the County assessor’s tax records and are successful in appealing their property taxes.  Homeowners must appeal their current assessment through the local County Assessor’s office.  “I highly recommend that you equip yourself with the right information”, says Allen Brodetsky president of Boutique Realty. “Before you spend your time and resources on expensive professional help, you may want to call your realtor and order comparable reports to help you gauge the value of your home.”

Just when everyone thought the party might end mortgage rates on a 30 year fixed fell to 4.09%, their lowest level since 1951.  The average interest rate on a 15 year home mortgage dropped to 3.30% which could be the lowest rate ever for that program.  Mortgage rates tend to track the yield on the 10-year Treasury note. Trepidation over Europe’s debt crisis are pushing investors to shift money into the safe Treasury, forcing the yield lower and home interest rates to fall.

Bill 771 was signed by Governor Brown last week, protecting condo and town-home buyers against high document fees.

Current laws require purchasers of a unit to receive standard information about the Homeowner’s Association (HOA).  HOAs currently provide this information, however the costs generally run about $75 to $250.  It was noted that HOAs subcontracted the document processing to third parties, causing a sharp increase in document cost to the buyer.  Under the 2007 court decision, third parties were not subject to fee limitations, so why not charge ridiculous fees for– let’s say, a photocopy–right?  Wrong!

The National Association of Homebuilders estimates that 2% of homes across the nation will be affected by lower loan limits.  Starting October 1^st Fannie Mae and Freddie Mac are lowering the limits of loans that they purchase from banks.  The lower loan limit will be reduced from $729,750 to $625,500.  Borrowers above these limits will be pushed into jumbo loans at higher rates.  They may have to consider less expensive homes if they lack a larger down payment to bring them to par with the new conforming limit or be prepared to jump through more flaming hoops to qualify for a loan.