Incredible Downtown LA Restaurant Space for Lease!

Downtown LA Commercial

1036 Grand St. Los Angeles, CA

    OVERVIEW
  • 1036 S Grand Ave has the wow factor that restaurant patrons desire when dining for business and pleasure
  • Located in the heart of South Park, Downtown Los Angeles’s most desirable and fashionable cosmopolitan neighborhood
  • A few blocks from Staples Center and LA Live
  • Built in 1912 and 7,100 sqft large
  • 25 foot (estimated ) truss ceilings, massive skylights, floor to ceiling brick walls, concrete floors
  • Free standing so a restaurant operator can avoid the hurdles often times experienced when located on the first floor of a building with tenants and residents.
  • Parking for five to six cars in the rear of the building and there are many public parking lots in the immediate vicinity.
  • Structural retrofit already completed to accommodate a 194 person occupancy load
  • Conditional Use Permit is in progress for full alcohol as well as off-site sale of beer/wine.

For price, terms, showings – contact me at jkryukova@gmail.com or 310.402.8181

If you’re looking for industrial, retail, creative, or other commercial space for lease or sale please contact me.

Downtown LA Commercial Downtown Los Angeles Commecial Space

Listing Courtesy of Tony Diamond.

Ceiling and Brick Walls

Freddie Mac: 30-year mortgage rates fall to 4.5%; Fed helping

The Federal Reserve’s decision to continue a stimulus program unabated should put more downward pressure on mortgage rates, which had fallen sharply this week even before the central bank announced its decision.

The average rate for a 30-year fixed mortgage fell from 4.57% last week to 4.5% this week, according to Freddie Mac’s survey of lenders, which was conducted Monday through early Wednesday. The 15-year fixed home loan declined from 3.59% to 3.54%.

On Wednesday afternoon, Fed Chairman Ben S. Bernanke stunned Wall Street by saying the economy is still too sluggish for him to start tapering off on the stimulus, as many economists had expected he would do.

That means that for now, the central bank will continue buying $85 billion a month in Treasury and mortgage-backed securities, pumping money into the economy and pushing down interest rates.

QUIZ: How much do you know about the Fed’s stimulus program?

The terms that lenders were offering on 30-year loans immediately eased Wednesday afternoon following Bernanke’s announcement, said Jeff Lazerson, who heads the Mortgage Grader loan brokerage in Laguna Niguel.

The rate for a 30-year loan with no discount points dropped from 4.5% to 4.375%, Lazerson said. To obtain a 30-year fixed mortgage at 4.125%, borrowers were paying one point, down from two points Wednesday morning.

Retail sales and industrial production are growing more slowly than economists had expected, and consumer sentiment fell for the second straight month in September to the lowest level since April, noted Freddie Mac chief economist Frank Nothaft.
This, in part, was why the Fed chose to keep up its massive bond-buying program, Nothaft said.

“It also cited the tightening of financial conditions observed in recent months,” he added, “which in the case of the housing market means the rise in mortgage rates since May.”

Several economists said the longer-term trend is for 30-year home loans, which in May dropped as low as 3.35% on average, to rise back toward more normal levels, meaning mortgages starting with a “5.”

In an email to The Times, Nothaft said Freddie Mac projects that the rate will average around 4.5% or less for the rest of this year, “and stimulate further improvement in home sales and home-price appreciation.”

“However,” he said, “we are still projecting the 30-year fixed-rate mortgage to be at or above 5% by the end of 2014.”

Freddie Mac’s survey asks mortgage bankers what terms they are offering to borrowers with good credit and down payments of 20% who pay less than 1% of the mortgage amount in upfront fees and discount points to the lender.

 

 

Source: LATIMES.com/business

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

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