JUST LISTED: 2880 Las Alturas St. Hollywood Hills $999,000

Las Alturas

2bed/2.5 Bath

2,068 Sq. Ft.

KILLER VIEWS!!!

This stylish Hollywood Hills residence showcases dramatic views right from the front door and its sky-lighted entry hall (with powder room).  An open floor plan accentuates the home’s modern vibe. The house’s ample living area has a fireplace, pitched ceilings, wood floors, and resort-style walls of glass that accordion-open to a generous balcony. Inside becomes outside as the breezes blow and a carpet of city lights spice-up the living space. A dining area also showcases views to di(n)e for. The highly-desirable open floor plan continues as dining opens to the home’s well-equipped kitchen (with breakfast or cocktail bar), which has newer appliances and plenty of custom wood and glass cabinetry.

The master bedroom has custom built-in wall of shelving and cabinetry and plenty of closet space. There is a balcony accessible through glass double doors. Just past the pine trees…more city lights views. The remodeled master bath features a chic porcelain vessel sink, a reclaimed wooden cabinet and mirror, slate shower & tub surround, and chrome fixtures. The second bedroom also has access to a remodeled bathroom with an over-sized sink cabinet and step-in shower.  This bedroom also has a balcony with tree-top and city lights views.

The home’s large, direct-access garage is currently working perfectly for two-cars, laundry area, and storage-storage-and more storage; but could be used as a gym or additional living space. An outdoor wrap-around deck area (hedged and gated) provides ample private space for kids/pets, and sports and built-in barbeque. This area is perfect for an evening cocktail gathering or Al Fresco dining and…has views!

This home is a true Hollywood Hills pad, just north of landmark Mulholland Drive. Near the end of a cul-de-sac, this Las Alturas home provides a safe and secure street to hang out, walk the pups, and take in the “mountain” air. And, it’s only a short walk to the upper entrance to Runyon Canyon Park.

5t 039 5r 016 5q 015A reshoot027 Las Alturas 5i 020 5d reshoot009 5a reshoot007 02 reshoot004 Las Alturas

Top Reasons to Opt for Seller Financing!

Seller Financing

Top Reasons to Opt for Seller Financing

Seller Financing has benefits for both the buyer and the seller

A recent experience of mine reminded me of the importance of seller financing. The son of a longtime friend of mine recently caught me at a Friday night high-school game and informed me he and his wife had turned down an older home in the neighborhood they always wanted, for a new home in a subdivision.

They also declined the possibility of no-cost seller financing from the owner of the older home because the builder offered a slightly lower rate on the new home.

“We just felt like we wouldn’t have to do anything on the home for years,” Patrick said. “We couldn’t afford any expensive surprises.”

While I disagreed with him on both topics, I kept my opinions to myself because he had already made his decision and was looking forward to moving into his new home. Here’s why I would have chosen differently.

First and foremost, you can always repair or remodel a home, but you can never single-handedly fix a neighborhood. If you know the schools, churches and streets that are important to you, it’s usually best to buy where you have done your primary research. And, new homeowners often underestimate upkeep.

But just as important are the credit and cash needed to get a loan today. Lenders are being more cautious and are demanding more skin in the game.

Recently, Fair Isaac Co., the developer of FICO scores, revealed that 78.5 percent of all consumers have scores that fall between 300 and 749. The FICO score ranges from 300 to 850. So only about one in five American have a FICO score of 750 or higher.

Ellie Mae Inc., a provider of mortgage origination software to lenders, reports that borrowers approved for mortgages in September had an average FICO score of 750. What message does that send to prospective home buyers?

Besides high credit scores, borrowers are coming in with higher down payments to satisfy lender requirements. According to Ellie Mae, home buyers who used a Fannie or Freddie loan had, on average, a 21 percent down payment. Homeowners who refinanced had average equity in their homes of 30 percent.

Doug Duncan, Fannie Mae’s chief economist, recently said he thought that loan standards will eventually ease as banks reduce some extra risk-based fees that they have added to benchmark quotes since the mortgage meltdown.

But is there a viable plan B? What if you didn’t have to go to a lender for a home loan?

Seller financing is an underestimated benefit not only because of today’s increased lender scrutiny, but also because the buyer dodges most all the fees associated with the loan. For example, in Patrick’s case, he decided on a 3.5 percent loan from a lender rather than a 4 percent loan from the homeowner.

Let’s say the total costs of a $200,000 loan come to 2 percent of the loan amount, or $4,000. The monthly difference between a 3.5 percent loan and 4 percent loan is approximately $57 a month. Not only would Patrick have to borrow more or come out of pocket with the extra funds (in addition to the down payment needed on the house), but he would also need more than seven years to make up the monthly difference.

While many owners make “cash-out, conventional” financing a requirement when selling a home, others are more than willing to negotiate price and terms. Homes are selling quickly in many neighborhoods, but others continue to sit. It’s those owners who can be “all ears” if it means closing a deal and moving on with their lives.

And, some sellers, particularly seniors with no high-rate place to park their cash, are not opposed to accepting a healthy down payment and “carrying the paper” on their real estate as long as they are guaranteed 4 percent interest on their money. In most cases, it’s difficult to get that rate in non-risk accounts.

Buyers and sellers can build in safety features to make carrying the paper palatable for both sides. If you are a buyer, there’s no harm in asking. You could save time, anxiety and a lot of cash — an inexpensive surprise.

If you’re looking to buy, lease, or lease – please contact me at 310.402.8181 or jkryukova@gmail.com

Click here to visit my website

Source: Inman news

7135 Pacific View Dr. Hollywood Hills, CA 90068 Open Sunday 2-4pm

Asking Price: $719,000

2bed/2bath

Stylish Hollywood Hills mid-century modern with dramatic city light views. Move-in ready with an open floor plan, fireplace, beamed ceilings, wood floors and a generous balcony that is great for entertaining. The kitchen’s design features stainless steel appliances, retro metal cabinetry, and built-in dining table. Master bedroom includes built-in cabinetry for extra storage, large closet and newly remodeled master bathroom. Attached garage is currently used as additional bonus space with office area, family room area and laundry area, which also features a frosted glass and stainless-steel break-away roll-up door. A side yard area provides private outdoor space for kids/pets, and an above-ground spa provides a place for adults to relax. This home is a true Hollywood Hills pad, but is conveniently located on a flat street with plenty of parking and walking distance to Runyon Canyon.

Open Sunday September 16, 2012 2-4pm.

Please contact Julie Kryukova at (310)402-8181 or jkryukova@gmail.com for more information, showings, and other properties in the Hollywood Hills & Surrounding Areas.

This slideshow requires JavaScript.

Rate on 30-year mortgage falls to record low!

The average rate on a 30-year fixed mortgage fell this week to a record low for the seventh time in eight weeks.

 

Mortgage buyer Freddie Mac said Thursday that the average on the 30-year loan dropped to 3.66% from 3.71% last week. It’s the lowest rate since long-term mortgages began in the 1950s.

The average rate on the 15-year mortgage, a popular refinancing option, declined to 2.95%. That’s down from 2.98% last week and just above the record 2.94% of two weeks ago.

The rate on the 30-year loan has been below 4 % since December.

Low rates could provide some help to the economy if more people refinance. When people refinance at lower rates, they pay less on their loans and have more money to spend.

 

Mortgage rates have been dropping because they tend to track the yield on the 10-year Treasury note. Uncertainty about how Europe will resolve its debt crisis has led investors to buy more Treasury securities, which are considered safe investments. As demand for Treasurys increase, the yield falls.

And the yield will likely fall even lower now that the Federal Reserve has said it will continue selling short-term Treasury securities and using the proceeds to buy longer-term Treasurys. That goal of the program is to drive long-term interest rates lower to encourage more borrowing and spending.

 

To calculate average rates, Freddie Mac surveys lenders across the country Monday through Wednesday each week.

The average does not include extra fees, known as points, which most borrowers must pay to get the lowest rates. One point equals 1% of the loan amount.

The average fee for 30-year loans was 0.7 point, unchanged from last week. The fee for 15-year loans was 0.6 point, down from 0.7.

The average rate on one-year adjustable rate mortgages fell to 2.74% from 2.78% last week. The fee for one-year adjustable rate loans was unchanged at 0.5 point.