Saturday, December 19, 2009
PRIME SILVER LAKE
TODAYS OPEN HOUSES
GREG BENDER; SILVER LAKE, CA
Greg Bender LA Realtor, born in Pasadena,CA, raised in the San Fernando Valley with weekends spent in Malibu and Palm Springs.
Greg currently spends his days focused on his clients needs. Being of support, marketing and selling homes in the Moreno Highlands district of Silver Lake, Prime Silver Lake as Greg calls it. The other main focus Greg has is working with first time buyers. First time buyers don't always know of "pocket areas" but Greg finds great homes in ares for them, that they can afford and might not have ever thought about for themselves.
Graduating high school in the West Valley, living in Woodland Hills, CA. He then went on to become a Beverly Hills hair stylist working with celebrities and people in the entertainment industry. Greg also spent 10 years flying around the country giving make overs, passionately supporting individuals to be and look their best.
Coming from a family of real estate he decided to follow in the family path, it was a natural move. The intimacy and trust created with his hair clients, proved to be valuable. The high standards and integrity, "the no matter what" part of Greg crossed over and continues to shine through.
The first year out Greg was Rookie of the year for the Los Feliz branch of Prudential California Realty. The second year he was given the Leading Edge Society award, which represents the top 7% of sales nation wide within Prudential California Realty.
Most recently was appointed to be one of the few board member of "The Charitable Foundation | Agent Outreach Community Of Prudential California Realty".
Greg Bender is continually working and creating new ideas to market homes for sellers and assist buyers in finding the home of their dreams.
The Greg Bender LA Realtor team is growing, he has created a full time partnership and is always teaming up with other Realtors to provide the best possible service to all clients.
Please check out Greg Bender's websites for yourself...
* www.PrimeSilverLake.com
* www.LAHomesByPrice.com
* www.TodaysOpenHouses.com
* www.GregBenderLA.com
Greg Bender has been a resident of Silver Lake, CA for 8 years and is specialist for the Moreno Highlands district which Greg calls Prime Silver Lake. He provides service to clients from Santa Monica / Malibu through the West Valley into Altadena and Pasadena. From the north end of the San Fernando Valley to as far south as Long Beach and Palm Springs for fun day trips of home hunting!
Where I grew up
San Fernando Valley, Malibu, Palm Springs, West Hollywood & Hollywood Hills.
Places I've lived
Pasadena, Sherman Oaks, Studio City, Woodland Hills, Toluca Lake, Malibu, West Hollywood,North Hollywood, Los Angeles, Hollywood Hills, Palm Springs, San Francisco, Santa Fe NM
Other names
Greg Bender LA Realtor
Tuesday, June 30, 2009
Monday, June 22, 2009
Friday, April 3, 2009
Monthly Statistics - Single Family - February 2009
No. Area Feb 2008 Feb 2009 Jan 2009 2009 To Date 2008 To Date SP/LP SP/OLP
21 Silver Lake - Echo Park $8,976,925 $12,056,400 $9,735,185 $21,791,585 $17,205,000 98.49% 90.96%
22 Los Feliz $7,171,001 $12,055,710 $7,068,000 $19,123,710 $21,327,501 97.29% 92.96%
30 Hollywood Hills East $4,115,000 $4,161,500 $4,073,500 $8,235,000 $13,668,500 94.11% 83.02%
Sales Volume
No. Area Feb 2008 Feb 2009 Jan 2009 2009 To Date 2008 To Date SP/LP SP/OLP
All Selected Areas $20,262,926 $28,273,610 $20,876,685 $49,150,295 $52,201,001 97.31% 90.52%
Median Sales Price
No. Area Feb 2008 Feb 2009 Jan 2009 2009 To Date 2008 To Date
21 Silver Lake - Echo Park $650,000 $600,000 $580,000 $590,000 $705,000
22 Los Feliz $725,000 $818,500 $1,087,000 $950,000 $802,000
30 Hollywood Hills East $852,500 $790,000 $971,750 $790,000 $950,000
Number of Listings and Days on Market
#Sold #New #A #B #P #E #W
No. Area % Mth Dom Ytd Dom % Mth Ytd Ytd Dom Mth Dom Mth Dom Mth Dom Mth Dom
21 Silver Lake - Ec 55.26 21 111 38 81 55.56 35 63 128 112 12 54 14 56 30 96 6 252
22 Los Feliz 58.82 10 93 17 74 45.95 17 37 110 126 9 33 8 52 21 159 6 96
30 Hollywood Hills 55.56 5 81 9 65 67.74 21 31 87 128 9 130 6 121 14 96 7 214
Number of Listings and Days on Market
#Sold #New #A #B #P #E #W
No. Area % Mth Dom Ytd Dom % Mth Ytd Ytd Dom Mth Dom Mth Dom Mth Dom Mth Dom
All Selected Areas 56.25 36 95 64 73 55.73 73 131 325 122 30 72 28 76 65 117 19 187
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Thursday, March 19, 2009
Fed Reserve and Lower Fixed Rates
of the largest one day drops in history!! What this will equate to is
lower rates as much as 1/2 (.50) on most fixed rate product. Below is a
press release from the Federal Open Market Committee (Fed Reserve)
announcing what they did to cause the drop. This is welcomed good new,
and I thought it was good information for everyone have.
Press Release
Release Date: March 18, 2009
For immediate release
Information received since the Federal Open Market Committee met in
January indicates that the economy continues to contract. Job losses,
declining equity and housing wealth, and tight credit conditions have
weighed on consumer sentiment and spending. Weaker sales prospects and
difficulties in obtaining credit have led businesses to cut back on
inventories and fixed investment. U.S. exports have slumped as a number
of major trading partners have also fallen into recession. Although the
near-term economic outlook is weak, the Committee anticipates that
policy actions to stabilize financial markets and institutions, together
with fiscal and monetary stimulus, will contribute to a gradual
resumption of sustainable economic growth.
In light of increasing economic slack here and abroad, the Committee
expects that inflation will remain subdued. Moreover, the Committee sees
some risk that inflation could persist for a time below rates that best
foster economic growth and price stability in the longer term.
In these circumstances, the Federal Reserve will employ all available
tools to promote economic recovery and to preserve price stability. The
Committee will maintain the target range for the federal funds rate at 0
to 1/4 percent and anticipates that economic conditions are likely to
warrant exceptionally low levels of the federal funds rate for an
extended period. To provide greater support to mortgage lending and
housing markets, the Committee decided today to increase the size of the
Federal Reserve's balance sheet further by purchasing up to an
additional $750 billion of agency mortgage-backed securities, bringing
its total purchases of these securities to up to $1.25 trillion this
year, and to increase its purchases of agency debt this year by up to
$100 billion to a total of up to $200 billion. Moreover, to help improve
conditions in private credit markets, the Committee decided to purchase
up to $300 billion of longer-term Treasury securities over the next six
months. The Federal Reserve has launched the Term Asset-Backed
Securities Loan Facility to facilitate the extension of credit to
households and small businesses and anticipates that the range of
eligible collateral for this facility is likely to be expanded to
include other financial assets. The Committee will continue to carefully
monitor the size and composition of the Federal Reserve's balance sheet
in light of evolving financial and economic developments
Voting for the FOMC monetary policy action were: Ben S. Bernanke,
Chairman; William C. Dudley, Vice Chairman; Elizabeth A. Duke; Charles
L. Evans; Donald L. Kohn; Jeffrey M. Lacker; Dennis P. Lockhart; Daniel
K. Tarullo; Kevin M. Warsh; and Janet L. Yellen.
Sunday, March 8, 2009
Home Sales up 13% from Jan 2009 to Jan 2008
Here's how the PHSI fared across the country:
* Northeast: dropped 12.7 percent to 57.8 in January and is 19.7 percent below a year ago.
* Midwest: declined 9.2 percent to 72.6 and is 13.8 percent below January 2008.
* South: fell 11.9 percent to 82.2 in January and is 9.1 percent below a year ago.
* West: rose 2.4 percent to 103.6 and is 13.5 percent higher than January 2008.
TO READ THE ENTIRE ARTICLE FOLLOW THE LINK TO READ:
http://www.realtor.org/RMODaily.nsf/pages/News2009030301?OpenDocument
All my best,
Greg
Tuesday, March 3, 2009
LAPD COMMUNITY ALERT NOTIFICATION
OFFICIAL PUBLICATION OF THE NORTHEAST CRIME ANALYSIS DETAIL
NORTHEAST DIVISION
VEHICLE BURGLARY ACTIVITY
*ATTENTION* NORTHEAST COMMUNITY MEMBERS
RECENTLY THERE HAVE BEEN A RASH OF VEHICLE BURGLARIES IN GRIFFITH PARK.
DON'T GIVE THIEVES A CHANCE
HERE'S WHAT YOU CAN DO TO PREVENT CAR BURGLARIES AND THEFTS
1. Never leave valuables in PLAIN VIEW in your car. Thieves know that you
hide your property under towels, sweaters and packages. Secure items in
your trunk prior to arriving at location. Thieves are watching you.
2. Use some type of anti-theft device (alarm system, or steering lock).
3. Park in well-lighted or high-traffic areas.
4. Permanently mark your property with identification.
(We suggest your driver license or ID card number).
5. Keep serial numbers of electronic equipment, such as computers, IPODS, GPS,
and cellular telephones.
6. Never leave your car running unattended.
7. Keep your car doors locked and windows rolled up.
8. Don't leave personal identification documents in car (Vehicle Ownership Title,
credit cards etc.) Keep copies of license plate and vehicle identification number
with you.
9. If your car is stolen or burglarized, immediately report it to the police.
10. Report suspicious activity or people loitering in the area.
This public safety information is provided by LAPD Northeast Auto Detectives. If you have any
information on auto related crimes or on auto related crimes or on suspects committing these crimes
in your neighborhood, call Detectives at (213) 847-4265.
If you see any type of crime in progress, call 911.
TOGETHER WE CAN MAKE THE CITY A SAFER PLACE
Sunday, March 1, 2009
Today's Open House March 1, 2009 1 - 4pm
This charming home w/ separate guest house is OPEN TODAY (3/01) from
Tuesday, February 17, 2009
Final score: $8,000 for homebuyers First-time purchasers get a tax credit windfall if they buy before December.
NEW YORK (CNNMoney.com) -- There's a nice windfall for some homebuyers in the economic stimulus bill awaiting President Obama's signature on Tuesday. First-time buyers can claim a credit worth $8,000 - or 10% of the home's value, whichever is less - on their 2008 or 2009 taxes.
A big plus is that the credit is refundable, meaning tax filers see a refund of the full $8,000 even if their total tax bill - the amount of witholding they paid during the year plus anything extra they had to pony up when they filed their returns - was less than that amount. But there has been a lot of confusion over this provision. Adam Billings of Knoxville, Tenn. wrote to CNNMoney.com asking:
"I will qualify as a first-time home buyer, and I am currently set to get a small tax refund for 2008. Does that mean if I purchased now that I would get an extra $8,000 added on top of my current refund?"
The short answer? Yes, Billings would get back the $8,000 plus what he'd overpaid. The long answer? It depends. Here are three scenarios:
Scenario 1: Your final tax liability is normally $6,000. You've had taxes withheld from every paycheck and at the end of the year you've paid Uncle Sam $6,000. Since you've already paid him all you owe, you get the entire $8,000 tax credit as a refund check.
Scenario 2: Your final tax liability is $6,000, but you've overpaid by $1,000 through your payroll witholding. Normally you would get a $1,000 refund check. In this scenario, you get $9,000, the $8,000 credit plus the $1,000 you overpaid.
Scenario 3: Your final tax liability is $6,000, but you've underpaid through your payroll witholding by $1,000. Normally, you would have to write the IRS a $1,000 check. This time, the first $1,000 of the tax credit pays your bill, and you get the remaining $7,000 as a refund.
To qualify for the credit, the purchase must be made between Jan. 1, 2009 and Nov. 30, 2009. Buyers may not have owned a home for the past three years to qualify as "first time" buyer. They must also live in the house for at least three years, or they will be obligated to pay back the credit.
Additionally, there are income restrictions: To qualify, buyers must make less than $75,000 for singles or $150,000 for couples. (Higher-income buyers may receive a partial credit.)
Applying for the credit will be easy - or at least as easy as doing your income taxes. Just claim it on your return. No other forms or papers have to be filed. Taxpayers who have already completed their returns can file amended returns for 2008 to claim the credit.
The housing industry is somewhat pleased with the result because the stimulus plan improves on the current $7,500 tax credit, which was passed in July and was more of a low-interest loan than an actual credit. But the industry was also disappointed that Congress did not go even further and adopt the Senate's proposal of a $15,000 non-refundable credit for all homebuyers.
"[The Senate version] would have done a lot more to turn around the housing market," said Bernard Markstein, an economist and director of forecasting for the National Association of Homebuilders (NAHB). "We have a lot of reports of people who would be coming off the fence because of it."
Even so, the $8,000 credit will bring an additional 300,000 new homebuyers into the market, according to estimates by Lawrence Yun, chief economist for the National Association of Realtors.
The credit could also create a domino effect, he said, because each first-time homebuyer sale will lead to two more trade-up transactions down the line. "I think there are many homeowners who would be trading-up but they have had no buyers for their own homes," Yun said.
Who won't benefit, according to Mark Goldman, a real estate lecturer at San Diego State University, are those first-time homebuyers struggling to come up with down payments. The credit does not help get them over that hurdle - they still have to close the sale before claiming the bonus.
One state, Missouri, is trying to get around that problem by creating a short-term loan on the tax credit of up to $6,750. The state would loan borrowers the money so they could use it at closing as part of the downpayment. Then, when the buyers receive their tax credit from the IRS, they pay back the state. Other states may follow with similar programs, according to NAHB's Dietz.
Many may look at the tax credit as a discount on the home price, according to Yun. A $100,000 purchase effectively becomes a $92,000 one. That can reassure buyers apprehensive about purchasing and then watching prices continue falling, he added.
And it provides a nice nest egg for the often-difficult early years of homeownership, when unexpected repairs and expenses often crop up. Recipients could also use the money to buy new stuff for their home - a lawnmower, a rug, a sofa - and, in that way, help stimulate the economy.
CORRECTED: An earlier version of this story incorrectly stated how much taxpayers who were owed a refund would receive under the credit. 
Friday, February 6, 2009
Senate OKs $15,000 Bonus for Home Buyers
Housing could get a big boost from the latest addition to the mammoth stimulus bill working its way through Congress.
Senate legislators unanimously approved a proposal Wednesday that would allow a tax credit for home buyers of 10 percent of the value of new or existing residences, up to a $15,000 limit. Current law provides for a $7,500 tax break but only for first-time homebuyers.
"It is time to fix housing first," said Sen. Johnny Isakson, R-G.
Isakson's office said the proposal would cost the government an estimated $19 billion. In all, the stimulus is now topping an estimated $920 billion.
In an op-ed that appears in Thursday’s Washington Post, President Barack Obama painted a dire picture if Congress fails to move quickly to pass the stimulus bill.
"This recession might linger for years. Our economy will lose 5 million more jobs. Unemployment will approach double digits. Our nation will sink deeper into a crisis that, at some point, we may not be able to reverse," Obama wrote in the op-ed titled, "The Action Americans Need."
Source: The Associated Press, David Espo (02/05/09)
It even happens here, be alert, be safe, stay happy.
Silver Lake Community Meeting Addresses Muggings
Councilmember LaBonge encouraged Silver Lake residents to hang together as a community in the wake of ten street muggings between December 30th and January 31st. More than 200 residents of the Silver Lake area turned out for a community meeting last night to hear information and express concern about ten recent street muggings.
Councilmembers and Los Angeles Police officials sought to assure residents that the incidents were crimes of opportunity and NOT hate crimes, as some had feared.
Between December 30th and January 31st, ten men were mugged while walking alone in the Silver Lake/Echo Park area. Each man was approached by several Hispanic males who demanded their wallets and threatened them with either a gun, knife or bodily force. No weapons were discharged in these incidents, although four victims were unfortunately assaulted. Police believe the crimes are gang-related.
The officials encouraged residents to go out in groups, remain aware of their surroundings and be extremely cautious when out on the street. Anyone with information about these robberies should contact the Northeast Gang Detectives at: (213)847-4263.
Fred Bronson's Interview with Paul McCartney
My Client and friend Fred Bronson interviewing the legend Paul McCartney.
Short, but very cool.
Friday, January 30, 2009
First Time Home Buyers may get a $7500 tax credit
http://money.cnn.com/2009/01/29/real_estate/tax_credit_near/index.htm?postversion=2009012907
Wednesday, January 14, 2009
Thursday, January 8, 2009
U.S. Banks Offer Mortgages Below 5% After Fed Action
JPMorgan Chase & Co. is advertising 30-year mortgages as low as 4.75 percent on its Web site, Wells Fargo & Co. has an offer for 4.875 percent and Bank of America Corp. has rates at 5 percent. The offers are for borrowers with excellent credit who put 20 percent down.
The Federal Reserve earlier this week began purchasing $500 billion of mortgage securities backed by Fannie Mae, Freddie Mac and Ginnie Mae to help lower mortgage costs. While the lower rates may lead more borrowers to refinance, it may not spur home buying in the second year of the recession after more than 2 million jobs were lost in 2008.
“I don’t know if there is a magic number now that everyone is freaking out about the economy,” said Paul Miller, a mortgage industry analyst with Friedman Billings Ramsey & Co. in Arlington, Virginia. “The home buyer is scared out of the market.”
Freddie Mac today reported that the U.S. average rate on a 30-year mortgage dropped for the 10th straight week to the lowest on record. The fixed rate dropped to 5.01 percent from 5.10 percent a week earlier, Freddie Mac said. That’s the lowest in data that goes back to 1971, according to the McLean, Virginia-based mortgage buyer.
Lower Yields
The Fed’s purchase program, which also includes buying $100 billion in direct debt, is intended to lower consumer rates by reducing the supply of agency mortgage bonds issued by Fannie, Freddie and Ginnie. That would boost their prices and lower yields, in turn reducing the interest rates banks charge on new mortgages to ensure sales of the securities are profitable. Agency bonds now facilitate almost all new home lending.
Jill Pfeiffer, a mortgage broker in San Diego, this week obtained a 4.875 percent rate on a 30-year fixed loan for a homebuyer with a credit score above 750, she said in an interview.
“It’s the lowest I’ve ever locked in on a 30-year fixed” since she began her business in 1996, she said.
The loan, with Sun Trust Mortgage Inc., had no origination fee or points, a percentage of the loan amount that lenders charge, Pfeiffer said. At least two other lenders could have matched the rate, she said. She also had four inquiries from homeowners looking to refinance mortgages.
Prices Declining
Rates are dropping as home prices in 20 major U.S. cities declined 18 percent in the year through October, the fastest rate on record, as tighter lending standards curbed sales and foreclosure sales pushed down values.
Sales of single-family homes declined 7.6 percent in November from the prior month, the most in two decades, according to the Chicago-based National Association of Realtors. Resale prices fell 13 percent, the most since the Great Depression in the 1930s.
The Mortgage Bankers Association’s index of applications to purchase a home or refinance a loan dropped to 1,143.8 for the week ending Jan. 2, from a five-year high of 1,245.7 the prior week, as consumers held out for lower rates. The group’s purchase gauge rose 7.3 percent and the refinancing measure decreased 12 percent.
Applications for home-loan refinancing and new purchases may increase as rates drop below 5 percent and exceed the five- year high of two weeks ago, Jay Brinkmann, chief economist for the Washington-based Mortgage Bankers group, said in an interview.
Lower Rents
“We would expect that activity to continue,” Brinkmann said of increased mortgage applications.
Lower rates may not encourage some buyers because U.S. apartment rents are falling and landlords are offering concessions such as free rent to avoid higher vacancies.
Apartment rents fell in the fourth quarter from the third as the national vacancy rate climbed to a four-year high of 6.6 percent, Reis Inc. said yesterday in a report.
Asking rents fell 0.1 percent from the previous quarter, to $1,052 on average, their first quarter-to-quarter decline in almost six years. Effective rents, what tenants actually paid, fell to an average $996 last quarter, down 0.4 percent from the prior quarter.
“Even if rates go low enough, if you got married, you’re 28 years old with no kids -- the typical first time buyer -- you’ll wait a year and continue to rent because there are good deals out there,” said Miller, the mortgage analyst.
At HomeStreet Bank in Seattle, consumers were being offered a 30-year fixed mortgage rate of 4.75 percent this week, according to Rich Bennion, vice president of residential lending. Flagstar Bank in Troy, Michigan, had rates below 5 percent that may include some costs to customers, spokeswoman Susan Cherry said.
“This is the lowest that I’ve seen,” Bennion said.
To contact the reporter on this story: Dan Levy in San Francisco at dlevy13@bloomberg.net.
Monday, January 5, 2009
Interest Rates crazy low, good!
MLS# 09-337867 - 501 PALISADES DR # 216, PACIFIC PALISADES 90272
$232,618.
Actual Price.
Buyer must be 62 years or older.
Sunday, January 4, 2009
More lenders allow 'early workout' loan alterations
By Kenneth R. Harney December 21, 2008
Reporting from Washington -- Here's some good news for homeowners facing tough financial times: You no longer have to miss two to three months of payments before your mortgage firm can modify your unaffordable loan terms. Fannie Mae, the mortgage giant with an estimated 18 million home loans in its portfolio or in mortgage bond pools it guarantees, now will allow borrowers who face financial difficulties to request "early workout" loan alterations, even if they've never been late.
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Fannie's policy change has the potential to help thousands of people who are losing jobs or facing layoffs as the recession crunches onward. Most lenders and loan servicers traditionally have declined to intervene in mortgage problems until borrowers are 60 to 90 days late. So-called loss mitigation staffs may then try to work out solutions through techniques such as rescheduling back payments or extending the loan term.Under Fannie Mae's revised approach, servicers of the company's loans will be required to inform borrowers that if they are "reasonably" certain that changes in their income will cause them to miss mortgage payments, they might qualify for an advance loan modification -- before they fall behind.Borrowers who qualify will enter into a trial period of reduced payments, usually for four months. If they make payments on time during the trial, the modified mortgage terms could be made permanent.
For example, say your spouse loses a part-time source of income, and suddenly you're short $400 a month needed to make your $2,000 mortgage payment. In the past, if you called your loan servicer, you probably would be told that rules prohibit any help to you until you have become delinquent by several months. But by that time you might be thousands of dollars in the hole, racking up big late payment penalties and in the process of wrecking your credit scores.Under the early workout concept, Fannie's servicers can now tell you upfront: We'll try lowering your monthly payments to accommodate the $400 in missing income. If you're current on the lowered payments after a four-month trial, and your income situation has not rebounded, we'll make the change permanent.Officials said servicers would examine the facts in each case individually, checking income, credit reports and other documentation to ensure that borrowers weren't faking income shortages just to get a lower payment.Fannie's new loan modification program puts the company in sync with other large mortgage institutions that are reaching out to borrowers facing economic strains before they end up in serious delinquency or foreclosure.For instance, Jamie Dimon, JPMorgan Chase's chairman and chief executive, says he expects his company to identify and work with as many as 400,000 customers who may be in danger of missing future payments. Bank of America has announced a similar effort.Freddie Mac, which has 12 million loan customers either in its portfolio or in mortgage bond pools it guarantees, has "for years" permitted its servicers to negotiate early modifications in some circumstances, spokesman Brad German said, although Freddie has not aggressively publicized the program to borrowers.With the addition of Fannie Mae, the vast majority of major players in the mortgage market now say they offer some form of early intervention for consumers heading for defaults. But there's a big unknown here: If your servicer modifies the terms of your loan, will you stay out of trouble? Or might you fall behind again?The jury is still out. On the one hand, some recent federal data suggest that more than half -- 53% -- of modified loans end up in re-defaults within six months. Modification advocates such as Sheila Bair, chairwoman of the Federal Deposit Insurance Corp., contend that changes to loan terms that go deep enough to meaningfully deal with borrowers' ongoing financial problems succeed at far higher rates.What should you do if you see financial trouble on the horizon that could push you into serious delinquency? Immediately contact your servicer, and if you find out your loan is owned by Fannie Mae, Freddie Mac or another major lender, request an early workout.Before foreclosures started going off the charts, substantive help in advance would have been almost inconceivable. Now it's part of servicers' marching orders.Kenneth R. Harney is a syndicated columnist distributed by the Washington Post Writers Group.
Saturday, January 3, 2009
Los Feliz, Hollywood Hills East - Open House
1937 Canyon Drive, Los Angeles, CA 90068
*pictures shown below
I look forward to seeing you there, and Happy New Year!
Greg