1to4plex.com » Florence Foote

Woodland Hills: Expectations Out of Balance

Florence Foote — Mon, 07 Dec 2009 14:15:33 +0000

Last time I analyzed the MLS data for the North West San Fernando Valley, I noted some encouraging trends: a 1% year-over-year increase in the median sold price, and the fact that the “for sale” prices were within approximately 10% of the “sold prices,” which is considered a healthy equilibrium between buyers and sellers. This basically means that sellers are being realistic, which permits transactions to take place. But, turning to the micro-climate of Woodland Hills, we can see a very different picture. On the chart below, it is apparent that while the “for sale” price hasn’t budged since last year, the median sold price has plunged 11%. In other words, buyers and sellers are getting increasingly out of sync. But, at the same time, inventory has plummeted from earlier this year. It will be interesting to see in the coming months whether the expectation gap causes inventory to increase. Stay tuned.

Signs of Bottoming In The San Fernando Valley?

Florence Foote — Sat, 21 Nov 2009 06:11:58 +0000

DataQuick has reported that Southland home sales are up overall, and the same trend can be seen in the MLS data from the Northwest San Fernando Valley. Indeed sold prices have actually increased by 1% from a year ago. Also, since the gap between the “for sale” price and the “sold” price is now within 10%, which is considered to be a good sign for increasing sales, as the sellers’ expectations have gotten within striking distance of the buyer’s. This chart also appears to reflect some influence from the federal first time homebuyer tax credit and the pressure to close before it expired (although it has now been extended in a slightly different form).

Also check out the lower chart for a dramatic view of the shrinking inventory. This reflects the buyers’ frenzy that snapped up many of the better priced properties during the middle of the year (most of which were distressed.), For whatever reason, much of this inventory has not been replaced with new inventory. The moratorium on foreclosures may have had some impact on this number, as had the “shadow inventory” — properties that the banks have not foreclosed upon, for reasons of their own. Many are expecting more of these properties to be put on the market over the coming year.

“DID I OX YOU????”

Florence Foote — Mon, 02 Nov 2009 03:26:10 +0000

I loved this impression of Anton Chigurh foisting off a house on a unsuspecting couple.

Incredible high yield opportunity on a true Duplex, 2 on a lot

Florence Foote — Fri, 30 Oct 2009 06:15:57 +0000

Incredible high yield opportunity on a true Duplex, 2 on a lot. Completely remodeled units ready to rent. ALL seperate meters including water!This property will go fast!

Market rents for the 2/1 is $1250 and the 1/1 rents for $850. GSI $24,600 yr/ $2050 mth.

Low expenses and great income make this an incredible deal, call today to make an offer!

Duplex in desirable Sherman Oaks

Florence Foote — Wed, 28 Oct 2009 05:42:10 +0000

Totally renovated duplex in desirable Sherman Oaks with granite countertop and newer cabinets and paints! 1 unit is 3 bed/1 bath, 1 unit is 1 bed/1bath. Great Location. Not a short sale or REO. Call today to make an offer!

Great investment in North Hollywood. 3 UNITS.

Florence Foote — Wed, 28 Oct 2009 05:32:56 +0000

Great investment. 3 UNITS. Each unit is 2-bedroom, 1 bath, 1100 sq ft(apxt), 1-Car garage for each unit, both bottom units have private patios, front unit has private backyard. Generates $60,000 in yearly gross income! Contact me for more details!

offered at $798,900

Why I Joined Keller Williams® Realty

Florence Foote — Wed, 05 Aug 2009 05:45:14 +0000

As some of you know, after interviewing with several companies, I recently changed my affiliation to Keller Williams® Realty, Inc. KW is now the third largest real estate company in the United States. Based in the high-tech hub of Austin, Texas, KW claimed the number three spot with 72,794 U.S. associates at the end of 2008. As my territory expands to cover the Westside and higher-end neighborhoods, I decided it was crucial to ally myself with a market leader like KW. How great is KW? Don’t take my word for it: JD Power & Associates rated Keller Williams as the Number 1 ranked real estate company in buyer satisfaction. My only goal is to keep us there, while improving the client experience in any way I can.

Why did I join the ranks? KW is a fast-paced and fast-growing company that has a presence in all the major market areas of Los Angeles. One of the reasons behind its growth, is that KW is one of the leaders in applying technology to dominate the real estate market. Either as a buyer or seller, when you have superior information, you have the power to get the best deal possible. I plan on bringing as many technological advances to my clients as possible — with KW’s assistance and the power of a large organization behind me.

Finally, for my investor clients, KW has a commercial side, and I plan to team with them when it comes to listing and locating appropriate properties for investors.

Can You Afford to Throw Away Up to $8,000.00? November 30th Is Just Around the Corner.

Florence Foote — Thu, 30 Jul 2009 16:57:48 +0000

The federal first time homebuyer tax credit will expire — poof! — and you’ll have officially blown your chance to access up to $8000 if you can’t get into escrow and actually CLOSE THE DEAL by no later than November 30th, 2009. Thus, some are suggesting that if you are a first time buyer that you try to get a property under contract by September 30, 2009 in order be able to have plenty of time to close before the deadline. (There is always a possibility, of course, that the credit will be renewed or changed by Congress — but are you feeling lucky?)

California is a very desirable place to live — but it is also the 47th lowest state in homeownership with a rate of only 56.9% according to the US Census Bureau. Since the last recession ended in the 1990s, it became increasingly difficult to afford to buy a property in California and, in particular, in Los Angeles. The recent real estate and financial market crash has had a silver lining — real estate is now more accessible then it has been in a long time.

In Woodland Hills, from the beginning of this year up to 7-26-09, a 3 bedroom 2 bath house with about 1315 square feet averaged just over $400,000. This translates to a monthly payment of less than $2,250.00 with 3.5% down payment (FHA) and a hypothetical interest rate of 5.6%. By comparison, it would likely cost you $2,300.00 to rent the equivalent place, a rent payment that is very likely to increase over the next thirty years. What you gain by owning vs. renting is the interest tax deduction, and up to $8,000.00 in the form of a tax CREDIT provided you qualify and close escrow in time. (Do keep in mind that there are other costs, taxes, insurance etc. — but also intangible benefits to homeownership. Plus, if you get a fixed rate mortgage, as we advocate, your investment will be sheltered from inflation.)

If you find yourself overwhelmed by the buying process (from getting pre-approved to selecting your property), please let me guide you so that the process is as smooth as possible — perhaps you will find yourself in a new home in time for the holidays.

Beautiful Triplex in West San Fernando Valley, Close to Transportation

Florence Foote — Thu, 30 Jul 2009 05:42:06 +0000

16663 Victory Blvd
Lake Balboa, CA 91406

Listing courtesy of: SANDRA EVE TEPELIDIS, Re/Max Olson & Associates,Inc.

Updated South of the Boulevard Woodland Hills Duplex

Florence Foote — Thu, 30 Jul 2009 05:26:08 +0000

21122 Costanso St Woodland Hills, CA 91364

Listing courtesy of: Katy Parsons, Aviara Real Estate