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Caution when buying a Fixer House! Remodeling has its challanges….
Caution when buying a Fixer! Remodeling has its challenges: Patience, Money and good Planning make it easier! Often time you hear someone saying I will just buy a moderate fixer and do it myself. Well I find that is easier said than done. Keep in mind if you are not your “handyman type” home owner I would advise against it. Also if you are tight on funds again my advice is against it. Alternatively if you are not handy then you better know how to find the best people for the job. Key cautionary words here are: you need good people who you trust and know how to do things right fast and efficiently at a reasonable cost. If you are not handy you better have the resources and the team to keep you going. Which brings me to illustrate the point. We had a project that was initiated with a “drip”. Needless to say this project started out with “one drip” hence should have been a simple and easy fix. Well let me summarize it here: Diane, started to notice that the master bathroom sink started to drip every so often. Our handyman suggested to let it go, since repair parts were nonexistent for this faucet. (I Concurred) Needless to say the Handyman and I, were overruled. We went from an ordinary nothing special bathroom faucet to a new Restoration Hardware faucet, which had a life time guarantee that it would not drip. (For more details I will have to write a blog post about the Faucet replacement drama) This in turn led to having to replace the sink/vanity because the new faucet did not fit on the old one… This in turn led to replacing the vanity which in turn damaged the tiles. This in turn led to replacing the tiles… this in turn brought in the tile guy, who does not do electronics. Hence the electrician had to be called in to do the new lights and in turn moving the switches where they should have been in the first place. While this was being arranged the “new faucet” was also dripping, this in turn brought in our trusted plumber who replace the new Restoration Hardware faucet with an identical one. So I hope you get the idea that Patience is key here. Followed by having the funds. Plumber, Electrician, Handyman, Tile Man and the list goes on and on…. Keep in mind this was just a minor bathroom faucet dripping which lead to a mini bathroom remodel. If you are buying a fixer you need to realize that it could be more than just cosmetic repairs. The most important part is to plan in advance, have the resources when it comes to time, materials and money! Lastly have the patience, because things will not go according to plan or schedule. Well to illustrate my point I will have to write another couple blogs just about the Tile Acquisition process tooJ. If you are a consumer who is considering buying or selling a home, investment real estate, vacation homes, or beach properties in Southern California, Los Angeles, Century City, Westwood, West Hollywood, Beverly Hills, Culver City, Playa Vista, Marina Del Rey, Venice or Malibu. Feel Free to give me a call at 310.486.1002 or email me at homes@endrebarath.com...
read moreHave you heard of Gumball 3000? It is a Road Rally! This year’s theme is Stockholm to Las Vegas!
Have you heard of Gumball 3000? It is a road rally! This year’s theme is Stockholm to Las Vegas! The first Gumball 3000 was started in 1999 by Maximillion Cooper a British Millionaire or Billionaire depending who you talk tooJ Hence, it certainly makes sense why this is a British 3000 mile (4800 km) road rally. The idea was to combine cars, music, fashion and entertainment. Needless to say that represents Beverly Hills, Los Angeles and the Hollywood of everyone’s imagination. Luxury at its bestJ! He has decided that every year the Road Rally will take place on a different route. So for an entrepreneur who has race cars, clothing line and a Rap Musician for a wife what a great Marketing Coup? Truly ingenious strategy the Road Rally gets his name and products out all over the world. Here is a link to Wikipedia (https://en.wikipedia.org/wiki/Gumball_3000 ) if you want to learn the history of all the other Road Rally’s that took place since 1999. So just imagine what a pleasant surprise I had. I was heading back from showing one of my View Vacant Lots in the Hollywood Hills. As I was traveling west towards Santa Monica I noticed this Golden Rolls Royce, needless to say after finishing a good showing, I need to take a closer look. So I back tracked to get a closer look and see what this car was all about. Needless to say as soon as I pulled up to it, I understood. This Golden Rolls Royce reminded me of the movie the ‘Yellow Rolls Royce’ (but that would be dating myself). If I perked your interest and you would like more information about this road Rally there is a 90 minute movie out, narrated by none other than Burt Reynolds of the movie fame of Smokey and the Bandit! (https://en.wikipedia.org/wiki/Gumball_3000#Gumball_3000:_The_Movie ) And here is a link to Wikipedia (https://en.wikipedia.org/wiki/Gumball_3000 ) if you want to learn the history of all the other Road Rally’s that took place. If you do not want to read all the link well let me tell you: The Participants typically use exotic super cars such as Ferraris and Lamborghinis to complete the race. Luxury at its best! Now here is a link to the official Website for those who want the Official version or might consider participating in next year’s Gumball 3000 Rally (http://www.gumball3000.com/#/home ) On a side note I have the ultimate Vacant Lot to have Eve & Maximillion build their dream homeJ or any of the participants of the Road Rally who fall in love with Beverly Hills! Check out 2883 Kirkland Dr Land listingJ (http://m.beverlybellevue.website/ ) or check out the video (https://vimeo.com/120311181 ) If you are a consumer who is considering buying or selling a home, investment real estate, vacation homes, or beach properties in Southern California, Los Angeles, Century City, Westwood, West Hollywood, Beverly Hills, Culver City, Playa Vista, Marina Del Rey, Venice or Malibu. Feel Free to give me a call at 310.486.1002 or email me at homes@endrebarath.com or visit one of my websites at https://www.endrebarath.com Your Pet Friendly Realtor. I contribute a portion of my commission to Local Animal Rescue Organization ...
read moreHow will China’s Economic troubles affect the Global Economy?
How will China’s Economic troubles affect the Global Economy? These observations are strictly my views and I do not have an agenda from a political standpoint. Strictly I am trying to present a concern that I have as well as a solution. Our News Media is so focused on Greece now days that no one has notice that China is imploding quietly without anyone even blinking an eye. China’s high flying Stock market has quietly dropped around 30 % from where it was a couple months ago. Let’s be real this is big news and should be in the front pages rather than a quiet footnote. The Chinese Government, more specifically the Chinese Communist Government is trying to salvage their own economy, their real estate market and their stock market from totally collapsing. They are keeping insolvent developers afloat by forcing the lender to continue infusing cash and not call in the loans. There is a huge glut of unsold inventory so that will continue to be a dark cloud over them. The Government Bank of China is planning on injecting funds into the brokerage firms. They are injecting funds i.e.: new money, which is like printing new money. This reminds me of what was happening in Europe specifically German after World War One….. On a side note everyone is focused on Greece defaulting that might be a couple billion dollars that would be lost to us….on the other hand if China goes down then we are talking not a couple but probably 20 or more billions of dollars that we would lose. So there should be more interest in this information from a financial standpoint. Not too long ago the Wall Street Journal wrote that there are manufacturing companies in China that have closed their operations down and are using their cash to gamble in the stock market. When more than 90% of their profit come for “stock market income” one must wonder what are they thinking? Manufacturers realize that they can make more money in the stock market rather than producing goods. So how does that effect the US Real Estate Market? Well for starters the Chinese All Cash Buyers have dried up because it is difficult for the Chinese Nationals to move funds from China. This in turn slows down the foreign nationals buying in the US. At the same time it allows opportunities for US Investors to buy with less competition. Institutional investors can now make researched buying decisions without being outbid by the foreign money from China. According to World Bank figures China accounts for 13%+ of the global gross domestic product. They basically are the biggest exporters around the world. Have you looked at things near you and turned them over and tell me where they are made. Coffee mugs, hammers, nails, and I could go on and on…everything is made in China for all practical purposes. So what will happen if the world supply dries up? This is a question one might consider and at the same time look at it as an opportunity to start some manufacturing operations. (Anyway I am just thinking out loud) So my advice is to both the US as well as the Chinese people with large sums of money. Park your funds into Real Estate that...
read moreHome Safety and Security should be a high priority for everyone! Here are a few tips to help!
Home Safety and Security should be a high priority for everyone! Here are a few tips to help! Sadly we live in times when we have to be more cognizant of protecting our families and our property. There are many statistics out there that substantiate that a large percentage of household have been victims of crime from vandalism to property theft and even burglary. Needless to say the percentage does not matter if it is 6% or 36% or anywhere in between, if you become the victim! There are simply many things you as the home owner can do to protect your home without being very expensive. My first advice might seem very simple and some of you might think I am being Funny: Lock your doors and windows. There are enough statistics, just ask your local police department and you will learn that almost one-third of all residential break-ins are due to unlocked doors and windows as the entry point! So as you can see that did not cost anything just being aware. Trim your bushes and shrubbery low around your home. This is another easy preventive measure so burglars will not have a place to hide while waiting and figuring out how to gain access to your home. Again this is either a free or inexpensive preventive measure. If you bought high end equipment such as TV, Audio System or Computer system, break down the boxes and place them on the bottom of your recycle bin. Do not advertise for the burglars that you got a new 54 inch High Definition TV. If you are like me I need professionals to install them, so maybe have the installers take the boxes with them? Turn down your home phone’s ringer if you are “old school” and still have a home land line phoneJ. If burglars hear a great deal of phone ringing’s it will tell them you are not at home. The most important advice I can give is consider installing motion-sensor lighting on the perimeter of your home. Have a conversation with your Electrician and of all the expenses this will probably be one of the best money spent for your Crime Prevention Efforts. Potential burglars do not know if you have any other security systems past your homes entry points. When the light comes on the burglars will move on. The above tips can help you burglar-proof your home and will give you a sense of security for you and your whole family. Mostly be vigilant and use common sense. Now if you are considering selling your home I would appreciate the opportunity to represent you. Please email me or call me for a free Market Evaluation. If you are considering buying or selling a home, a luxury home, luxury investment real estate, luxury vacation homes, or luxury beach properties in Southern California, Los Angeles, Century City, Westwood, West Hollywood, Beverly Hills, Marina Del Rey, Venice or Malibu, feel free to contact me at me at 310.486.1002 (m) or homes@endrebarath.com or visit one of my websites at https://www.endrebarath.com. I am a pet friendly realtor and I contribute a portion of my commission to local animal rescue organizations....
read moreOctober 1st, 2015 changes are almost here for the Buyers, the Borrowers i.e.: the Consumer via the Truth-In-Lending-Act!(TILA-RESPA)
TILA-RESPA Integrated Disclosure rule implementation(Truth-In-Lending-Act) August 1st, 2015, October 1st, 2015 changes are almost here for the Buyers, the Borrowers the Consumer There are changes that will go in effect thanks to The Consumer Financial Protection Bureau (CFPB) Some of the changes will be major others just terminology and definition changes. Here are some examples of terminology changes: The Lender will now be called The Creditor The Borrower and the Buyer will be called The Consumer Initial Truth-in- Lending Statement and Good Faith Estimate will be called Loan Estimate HUD 1 Settlement Statement and Final Truth-in-Lending Statement will be called Closing Disclosure The Closing will now be called Consummation! The purpose of all this is intended to make the Borrowers i.e.: the Consumer’s life easier. If you have bought ‘property’ before, and it was the first time, I am sure you will recall that the documents were confusing and quite overwhelming. There are agents who had a challenge with reading and explaining the HUD-1 forms, because not all agents are present at the closings and many times the Borrowers aka. The Consumer would only sign the documents in the presence of the Escrow Officer. Hence most people involved in the Transaction will welcome these changes. After reading the “The Closing Disclosure” I find it will be easier for all parties to understand the Terms, even though it is five pages long, the information is geared to simplify previously convoluted documents and data. Another aspect will be the implementation of “…some Best Practices for all Title and Escrow Companies…” One of those are how to handle Non Public Information (NPI) (I will cover that in detail in an upcoming Post.) If you are a Lender= Creditor, an Escrow Officer, Title Officer the biggest change will be to have better coordination and communication amongst each other. If you are a Realtor you need to become familiar with the Closing Disclosure Form since the Consumer will have it three days in advance rather than at the Closing Table. If you are a California Consumer these documents will be sent to you in advance as well prior to signing the Loan Documents allowing you to digest and raise questions and get clarifications to your concerns. I understand that this will take a bit of time to get used to but the purpose is to protect the Consumer, so we as representatives of the Real Estate Industry needs to embrace these changes and help the Consumer with their largest transaction of their life time and to make it as easy as possible. If you are a Consumer you should be Thrilled at these changes! If you would like to watch a five minute video about these changes please click on the enclosed link https://www.titlesecurity.com/changes-coming-august-1st-2015 Now if you like an in-depth clarification and would like a better understanding of the new rules, with questions and answers, then check out the Government’s Website for the changes here: http://www.consumerfinance.gov/regulatory-implementation/tila-respa If you are considering buying or selling a home, a luxury home, luxury investment real estate, luxury vacation homes, or luxury beach properties in Southern California, Los Angeles, Century City, Westwood, West Hollywood, Beverly Hills, Marina Del Rey, Venice or Malibu, feel free to contact me at me at 310.486.1002 (m) or homes@endrebarath.com or visit one of my websites at https://www.endrebarath.com. I am a pet friendly realtor and I contribute a...
read moreHow is the Real Estate Market in Beverly Hills?
Often I get asked: “how is the real estate market faring in Beverly Hills?” First I am thrilled that these type of questions are back in the cocktail party conversations as well as that they are being asked by serious investors and interested potential buyers and sellers. It is nice that it is not just idle conversation starters, rather serious interest on how the Real Estate Market is faring in Beverly Hills. My second reaction is to quantify my answer by saying, that there are many different Real Estate Markets in Beverly Hills. I always try to find out what the interest is i.e.: is it in particularly the first time buyer’s market? Is it the investors market? Or is it the Developer’s market? Then I try to narrow down the question, is it the Condominium Market? Or is it the Single Family Market? Just as an example let me just address the Single Family Market here and you will see even that has many different aspects. If I just simply stated, that this week the median list price in Beverly Hills, CA 90210 is $5,995,000. This would not present the entire Single Family Homes in Beverly Hills accurately. Even though the dollar mount is correct. Even if I added that inventory is increasing and the days- on-market time appears to be trending lower. Prices in the 90210 zip code are trending upward and are getting close to an all-time high. This still does not present the true picture. To get a more accurate picture of the Beverly Hills Single Family Home Market we need to separate the data into four groups based on living square feet. There are the least expensive homes which I consider in the bottom quartile. These homes are approximately 2680 square feet of living space and have lots in the neighborhood of 8-10,000 sq. ft. The Median Price for these homes is around $2,138,000. In the lower middle quartile the homes are around 4600 square feet of living space and have land from a .25 acre to .5 acre. The Median Price for these homes is around $4,299,000. As we look at the upper middle quartile, we are getting into the 6300 sq. ft. of living space and the lot sizes are around .5 acre – 1 acre. The Median Price is now around $7,425,000. Then when we look at the Ultra Luxury Homes, the living square feet increase to about 8700 sq. ft. or more on similar land size of .5 acre -1 acre. The Median Price is around $15,450,000. Needless to say I have not even addressed the Mega Mansions which fall into a category of their own. So the short answer to the question of “how is the market” looking at the current rate of sales vs. the current inventory we are still in a sellers’ market, but getting close to a balanced market. The Days on Market depending which price point we are focusing on is anywhere from 129 to 149 days. The most important factors which effect the prices in Beverly Hills consists of a three part answer: one our prices are driven by the World Demand, second we are the destination place from all parts of the Globe due to our Temperate Climate and third Beverly Hills represents Luxury. The...
read moreEndre Barath,Jr. has been Recognized by David Cabot President and CEO of Berkshire Hathaway HomeService CA Properties!
Endre Barath,Jr. has been Recognized by David Cabot President and CEO of Berkshire Hathaway HomeService California Properties for his Outstanding Sales Achievement! If you are considering buying or selling a home, a luxury home, luxury investment real estate, luxury vacation homes, or luxury beach properties in Southern California, Los Angeles, Century City, Westwood, West Hollywood, Beverly Hills, Marina Del Rey, Venice or Malibu, feel free to contact me at me at 310.486.1002 (m) or homes@endrebarath.com or visit one of my websites athttps://www.endrebarath.com. I am a pet friendly realtor and I contribute a portion of my commission to local animal rescue organizations....
read moreHappy Memorial Day Weekend! Best wishes from Los Angeles!
Happy Memorial Day Weekend! Best wishes from Los Angeles! As I reflect on seeing neighbors and friends have their families and friends visit and enjoy the traditional and in some people’s perception “mandatory barbeque” in the back yard. I think of all those who gave their lives so we can enjoy this weekend. Memorial Day Weekend is not just the beginning of summer to me. It is all those who fought and gave the ultimate sacrifice so we can enjoy our freedom. Here is a 3.2min video from someone who served, voluntarily Afghanistan & Iraq so we could enjoy our weekend. Check it out if you have time. https://www.youtube.com/watch?v=ki6GakghQoA I was not only amazed, but it touched me how this solder described Memorial Day and the weekend. As I finished watching on U-Tube. There was another video that caught my eye. President Ronald Reagan and his views of Memorial Day also very touching and about the same time as the other. So if you have another 3.2minutes to spare please watch it as well. https://www.youtube.com/watch?v=Wt8y18YFH70 With that said I would like to thank all those who served to protect our freedom and I wish I could thank those who gave the ultimate sacrifice! Happy Memorial Day Weekend to all and please reflect on these words. Keep the Tradition alive! If you are considering buying or selling a home, a luxury home, luxury investment real estate, luxury vacation homes, or luxury beach properties in Southern California, Los Angeles, Century City, Westwood, West Hollywood, Beverly Hills, Marina Del Rey, Venice or Malibu, feel free to contact me at me at 310.486.1002 (m) or homes@endrebarath.com or visit one of my websites at https://www.endrebarath.com. I am a pet friendly realtor and I contribute a portion of my commission to local animal rescue organizations. ...
read moreKegel Canyon Rd. Vacant Land! Pending! Endre Barath Vacant Land Specialist!
The best way to get to this lot is to go to KAGEL CANYON RD from there to INDIAN MESA DR and the lots are on THE CORNER OF INDIAN MESA DR AND KAGEL CANYON RD! THE PROPERTY IS ON THE CORNER OF INDIAN MESA DR & Kegel Canyon Rd! The best part is one side is on a paved road and the other side is a dirt road. Both LOTS ARE FLAT . This is truly COUNTRY LIVING BUT CLOSE TO THE CITY TOTAL OF 4800+/- LAND TWO APN NUMBERS. ALSO INCLUDED IS 2845-024-028. SELLER MIGHT CONSIDER SELLING SEPARATELY PREFERS SELLING TOGETHER. PERFECT FOR LONG TERM INVESTMENT TOO. OR BUILD YOUR DREAM HOME NOW. If you are considering buying or selling a home, a luxury home, luxury investment real estate, luxury vacation homes, or luxury beach properties in Southern California, Los Angeles, Century City, Westwood, West Hollywood, Beverly Hills, Marina Del Rey, Venice or Malibu, feel free to contact me at me at 310.486.1002 (m) or homes@endrebarath.com or visit one of my websites athttps://www.endrebarath.com. I am a pet friendly realtor and I contribute a portion of my commission to local animal rescue organizations. ...
read moreThe Median Sold Price for Bel Air- Holmby Hills is up by 55%!
The Median Sold Price for Bel Air-Holmby Hills is up by an incredible 55%! As most of you know Bel Air has some incredible Price Points. The Median Sold Price in February 2014 was around $1.1million that is about a $650k+/- increase for February 2015. I can hardly wait to see how March fared. All I can tell you is at every office meeting I heard multiple offers and agent grousing that they missed out on sales with their buyers. If you are considering buying or selling a home, a luxury home, luxury investment real estate, luxury vacation homes, or luxury beach properties in Southern California, Los Angeles, Century City, Westwood, West Hollywood, Beverly Hills, Marina Del Rey, Venice or Malibu, feel free to contact me at me at 310.486.1002 (m) or homes@endrebarath.com or visit one of my websites athttps://www.endrebarath.com. I am a pet friendly realtor and I contribute a portion of my commission to local animal rescue...
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