Credit standards going easy on jumbo mortgages

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Demand for non-government loans keeps growing!

Despite overall originations hitting the lowest level since 2010, the past year witnessed a significant increase in the volume of home equity loans and lines of credit, in addition to originating the best-performing mortgages on record, the first report from Black Knight Financial Services, previously known as Lender Processing Services, found. For jumbo mortgages, however, it’s a completely different story.

Two key points about the November numbers stand out according to Herb Blecher, senior vice president of Black Knight Financial Services’ data & analytics division.

“First is that heightened credit standards have resulted in this year being the best-performing vintage on record. Even adjusting for some of these changes, such as credit scores and loan-to-values, we are seeing total delinquencies for 2013 loans at extremely low levels across every product category,” Blecher said.

The second point Blecher emphasized was that overall volumes are down. “We are seeing an increased proportion of the market being supported by non-agency (vs. government) lending – with the share nearly doubling as compared to 2010,” Blecher added.

However, increasing home prices have helped offset some of the drop in originations with demand for home equity loans increasing.

“While first mortgage originations are almost half the levels as one year ago, total home equity lending, including loans and lines, has increased by 70%, and originations of second lien home equity loans have more than doubled,” Blecher said.

In addition, the market also observed a 75% year-over-year increase in the share of non-agency jumbo prime lending.

“Notably, nearly all of these jumbo loans have been originated with no mortgage insurance, which may indicate an increased appetite for risk, as well as an opportunity to expand credit criteria, for originations within the private market,” Blecher explained.

The November data revealed that the population of “refi” mortgages has decreased by about 4 million loans since the end of 2012.

In comparison, just 5.9 million loans meet broad-based refinance criteria. But loosening the credit standards to just a 700 FICO increases the refinance population by almost 17%, or an additional 1 million loans.

If you’re looking to lease, purchase, or sell residential or commercial property, please contact me direct at (310)402-8181 begin_of_the_skype_highlighting (310)402-8181 FREE  end_of_the_skype_highlighting or jkryukova@gmail.com

Source: Housingwire

JUST LISTED: 8610 W. West Knoll Dr. PRIME West Hollywood $2,249,000

Beautiful entry into this serene property

Asking Price: $2,249,000

Bedrooms: 3

Bathrooms: 3

Separate guest house, long drive way, hedged and gated, prime location

This West Hollywood home is in the center of it all, yet discretely and securely tucked away behind gated hedges on a quiet tree-lined street. Once behind the gates, a 4-car driveway is revealed with direct access to the front and backyard through custom wooden gates. A large fountain, lush landscaping and multileveled bricked patios offer a serene outdoor area that’s perfect for relaxing.

Double doors open into a tiled entry allowing shoes or a coat to come off before stepping into the massive open floor plan of the living, dining and family rooms. The living room offers a formal experience with custom fireplace (controlled by remote) and beautiful hardwood floors. Recessed lighting and a large picture window make the room bright and warm. Custom wood posts divide the formal living and dining room allowing for entertaining and hosting dinner parties. The dining area offers custom built sky lights along with custom sliding windows all of which have beveled glass mirroring the clean lines of the wood posts and chair railing. Recessed lighting with controlled dimmers above (and through-out the home) allow for setting the mood in any room of the home.

The open kitchen features high-end stainless steel appliances and custom cabinetry. Double ovens are situated next to a 5 burner gas stove making the perfect combination for the cook. Two sinks for prepping (or Kosher cooking), filtered water system, and double door fridge complete this premium kitchen. Black Caesarstone counters make the stainless steel appliances shine and multiple breakfast bar areas are situated around the kitchen, perfect for eating or leaning on while talking to the cook. Stepping away from the kitchen, you enter the family room with beautiful, custom architectural skylights. This area is perfect for the more relaxed days of the week watching a movie with friends and family or sipping a glass of wine. Off the family is a beautiful outdoor patio that is elevated above the backyard, yet is still perfectly private. Plenty of room for entertaining your guests or lounging alone, this is the perfect getaway just steps from the inside of the home. Also off the patio is a staircase leading into the large backyard.

Beyond the entertaining areas, the first floor of the home includes a master bedroom with views of the beautiful treetops in the backyard. Two entry options into the room, from the hallway or family room create a nice flow for the room. Two separate closets allow for large wardrobes and storage. The master bathroom has beautiful custom tile work and multiple shower heads to create a spa-like experience.

Down the hall is a guest bedroom with access to the front yard and custom built-in book shelves. This room is perfect for guests or a home office/library and also features double entry ways, double doors opening into the living room and also an entry into the hallway. A guest bathroom with black and white tiled floors and custom cabinets create a high-end feel. The bathroom also has enclosed laundry room with high-end stackable washer and dryer and shelves for linens.

A custom glass and wooden staircase lead the way to the second floor of the home which is situated downstairs below the main level of the house. This part of the home is truly rare and offers many options for the owner. The stairway is concealed behind a door with additional storage in the hall perfect for luggage or seasonal decorations. The large bedroom has views of the backyard and a full bathroom with custom double sinks and allow for the perfect guest retreat or extended family member’s stay.

This level also includes a mother-in-law kitchenette and second laundry room with high-end washer/dryer. The kitchen (once operating as a recording area of a studio) offers easy access to food and drink or can be easily converted into a projection room, media storage or left to serve its current purpose. A truly versatile space waits just on the other side of the kitchen which currently functions as a recording studio. This room has many useful options and is a wonderful bonus space for a home owner to have and can be used as living space, screening room or additional lounging area.

The lower part of the home opens into the backyard with multiple covered and open entertaining areas hidden with large manicured hedges that create privacy. The property has fruit trees and a garden area perfect for skipping the market for fresh fruit or herbs.

The home also offers the quintessential white picket fence which separates the main house from the full guest home. A separate entrance from the side of the yard makes this convenient for extend guests or family to enter the guest house with privacy and ease. A large room offers the prefect amount of space for the already installed kitchen area, living and dining space. A separate bedroom encloses off the living space with walk-in closet. The guest house also offers a fully remodeled bathroom with custom tile work and jacuzzi tub. An exterior area that is hidden away from the rest of the property offers privacy and lounging areas for the guests. Also featured is a third laundry area so entrance into the main house is not necessary.

ZONING: R3

Great Opportunity in Silver Lake Hills! TRUST SALE, NEEDS WORK! $795,000

1444 Murray Dr. Los Angeles CA 90026 (West of Silver Lake Blvd., North of Sunset – GREAT location)

OPEN HOUSE TODAY 2-5PM

3bed/2.5bath Asking price: $795,000 Trust Sale Tons of incredible potential to make this a custom designed space!

Fantastic opportunity to create your own living space in the hills of Silver Lake. First time on the market in decades!! This untouched 1960’s home is ready for your personal touches. 3 bedrooms and 2 bathrooms and huge living area creates the perfect palette for your designer eye. Split level back yard allows for a great area for entertaining and enjoying the views of the city. Double garages for easy parking and storage. Less than 1 mile from hip and trendy Sunset Junction.

Please call Julie Kryukova at (310)402-8181 or email at jkryukova@gmail.com for more info, showings, or for other properties.

www.juliekproperties.com

 

1444 Murray Dr. Silver Lake 1444_Muarray_003 1444_Muarray_004 1444_Muarray_007 1444_Muarray_008 1444_Muarray_011 1444_Muarray_012

Hollywood Hills West estate once owned by Marvin Gaye is listed at $3.799 million

A compound once owned by “Silky Soul Singer” Marvin Gaye and his first wife, Anna, has come on the market in Hollywood Hills West at $3.799 million.

The 1.46-acre estate includes a four-bedroom, five-bathroom main house, a guesthouse, an outdoor kitchen and an eight-car motor court. Water spills down a wall of boulders and into the swimming pool. There are three fireplaces and 3,156 square feet of living space.

Gaye, who died in 1984 at 44, found success in the late 1960s singing duets with Tammi Terrell such as “Ain’t No Mountain High Enough” and “Ain’t Nothing Like the Real Thing.” His hits included “I Heard It Through the Grapevine,” “What’s Going On” and the Grammy Award-winning “Sexual Healing.”

The Gayes owned the house in the mid-70s when Anna Gaye, the elder sister of Motown founder Berry Gordy, filed for divorce. She kept the house until 2008, when it sold for $1.91 million.

Rare opportunity to own this consisting of 3 parcels encompassing approximately 1.46 acres of land in Outpost Estates. Part of the land is flat and undeveloped, just waiting to be utilized. A private drive leads to an 8-car motor court and a completely remodeled 4-bed, 5-bath home. Experience breathtaking and serene settings on expansive park like grounds on one of the largest compounds in Outpost.

Please contact me at  (310)402-8181 or jkryukova@gmail.com for more information, showings, and other properties in the Hollywood Hills, Beverly Hills, and Surrounding areas for sale and lease!

 

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Nada Nadia Villarreal and Anthony Paradise of Sotheby’s Sunset office are the listing agents.

2013 Cyprean Dr. Hollywood Hills, CA 90046 OPEN SUNDAY!!

OPEN SUNDAY 9/23/12 2-5PM!

Zen Hilltop Contemporary on private shared street. All rooms enjoy spectacular
canyon, valley and mountain views. Living room w/ beamed ceiling and fireplace
open to deck overlooking canyons. Master Suite has huge steam shower tiled w/
limestone counter tops. Large walk in closet, also bonus room for office. First
floor has extra 1/1+living room w/private entrance. Bamboo floors, tiled
kitchenette & own deck. Wonderland school district & 2 car garage.

Size: 3 bedrooms, 3 bathrooms

Asking Price: $899,000

Location: Hollywood Hills, Laurel Canyon, Wonderland School District

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Great Fixer Opportunity in Laurel Canyon! 2451 Greenvalley Rd. Los Angeles, CA 90046

Asking Price: $940,000

Super private Laurel Canyon Compound ready for a fluff. Custom built in the late
40’s , this sweet 2 bedroom,1.5 bath & den traditional has a big pool and an
airy high ceilings in the office/studio/guest/pool house with a full bath. Built in a
sunny spot, this rare find offers oodles of possibilities. In the Wonderland
Avenue School District. Probate sale, subject to court approval.

GREAT OPPORTUNITY IN THIS DESIRED LOCATION!!!

2bedroom/1.5 bathroom

Sq. Ft – 1,243

Lot Size – 6,095

Year built – 1947

Please contact me at (310)402-8181 or jkryukova@gmail.com for more information, showings, and other properties in the Hollywood Hills and Surrounding areas for sale and lease!

 

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Listing courtesy of Bill Lustig, John Aaroe Group

 

Hot Deal of the Week: 14835 Valley Vista Blvd. Sherman Oaks ,CA 91403

Asking Price: $1,029,000

Bedrooms: 5

Bathrooms: 5

Approx. Sq. ft: 4,608

Approx. Lot Size: 8,288

Year Built: 1975

Description:

DWP water main break created an opportunity for a Builder/Investor to creat a
South of the blvd entertainer’s dream home. Property suffered water damage
inside and out. House has three levels with over 4600 sqft (per assr) of high
ceilings, open floor plan, 3 car garage. Master suite has a private fireplace
and loft that can be opened and expanded to creat a private getaway. High
ceilings in both the formal dining room and living room with fireplace and
spectacular views, as well as a large game/media room with its own fireplace and
balcony that looks over an entertainers yard with pool, spa and private sports
court. Kitchen can be opened to the den with yet another fireplace and side
balcony that has enough room to construct a wine cellar and/or cigar room. 4
spacious bedrooms with 2 dual baths that share a balcony that lead to the large
private grounds. Every level features views of the valley through large glass
windows. Outdoor is plumbed for an additional kitchen and private bath. Buyer to
investigate. Possibilities are endless….

House has been stripped down to studs and floor boards from DWP water main
damage. Ready for rebuild!

Please contact me at (310)402-8181 or jkryukova@gmail.com

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Listing Courtesy of: John Mihranian; Prudential California Realty