May 16, 2012 by Lynnell Woodward
It’s likely you’ve heard the term “short sale” thrown around quite a bit. But what, exactly, is a short sale? A short sale is when a bank agrees to accept less than the total amount owed on a mortgage to avoid having to foreclose on the property. This is not a new practice; banks have been doing short sales for years. Only recently, due to the current state of the housing market and economy, has this process become a part of the public consciousness. To be eligible for a short sale you first have to qualify! To qualify for a short sale: Your house must be worth less than you owe on it. You must be able to prove that you are the victim of a true financial hardship, such as a decrease in wages, job loss, or medical condition that has altered your ability to make the same income as when the loan was originated. Divorce, estate situations, etc… also qualify. Now that you have a basic understanding of what a short sale is, there are some huge misconceptions when it comes to a short sale vs. a foreclosure. We take the most common myths surrounding both short sales and foreclosures and give a brief explanation. LET’S BUST SOME MYTHS!! 1.) If you let your home go to foreclosure you are done with the situation and you can walk away with a clean slate. The reality is that this couldn’t be any farther from the truth in most situations. You could end up with an IRS tax liability and still owing the bank money. Let me explain. Please keep in mind that if your property does go into foreclosure you may be liable for the difference of what is owed on the property versus what is sells for at auction, in the form of a deficiency balance! Please note this is state specific and in most states you will be liable for the shortfall, but in some states the bank may not always be able to pursue the debt. Check your state law as it varies widely from state to state.
Category community, Current Listings, homes for sale, los angeles homes for sale, los angeles realtor, real estate, southern california real estate | Tags: | No Comments
April 18, 2012 by Lynnell Woodward
Bright 3 bedroom 1 3/4 bath on a cul de sac. Well taken care of property with updated kitchen complete with granite counter tops, stainless steel sink and plenty of cabinets. Laundry room off of the kitchen, beautiful wood floors in the bedrooms and tile flooring in the kitchen and baths. Central air, ceiling fans, window treatments and fresh paint. Tastefully landscaped fenced yard offers a tranquil rebeautiful patio and enjoy the views of the mountains. Twenty minutes to downtown Los Angeles and Pasadena. Two car garage and gardener included. Blue Ribbon schools. Pets considered.treat and an entertainers delight.
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March 30, 2012 by Lynnell Woodward
1361 Raymond Avenue, Glendale $679,000
A large arched window graces the front of this 1930′s Spanish style villa located on Raymond Ave in Northwest Glendale. This spacious 3 bedroom, 2 bath home offers a formal step down living room filled with natural light, hardwood floors and a Spanish style fireplace. The entry, graced with Spanish tiles, opens to the large dining room and on to the galley-style updated kitchen with stainless steel appliances, farm house sink, and sunny breakfast nook. All the bedrooms are very spacious with great closet space. The master bedroom, with custom built-ins and walk in closet, has an updated bath and opens to a small private patio; a little bit of paradise. The large family room with fireplace, peg and groove floors, and a wet bar, opens to the wonderful backyard with a completely redone pool. Huge laundry room off the garage plus a bonus bathroom for pool area.
Category blogging, community, Current Listings | Tags: | No Comments
January 20, 2012 by Lynnell Woodward
7618 Kyle Street, Tujunga
Super cute cottage in great quiet neighborhood of Tujunga. Copper plumbing, new heater, new kitchen counters all updated new flooring and paint throughout. Dual paned vinyl windows and a detached garage with laundry, automatic sprinklers… Nice yard and patio area What a wonderful opportunity to add on or just have a nice clean move in home
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September 15, 2011 by Lynnell Woodward
11023 Mcvine Ave., Sunland
A modern flare was added to this 2011 rebuilt beauty. The pictures don’t do it justice. This 3-bedroom, 3-bath home has a versatile and open floor plan, with 2 of the bedrooms being suites and boasting a luxurious master bathroom. The large front porch with ceiling fan is a great place to reflect on the day while enjoying the cool evening breeze. Once inside you will note the bamboo flooring throughout. Attention to detail in every room. Formal dining room steps down into the spacious state-of-the-art kitchen with 14-foot ceilings and new stainless steel appliances. This room adjoins to the great room/family room and opens to the wonderful outdoors. Features a separate laundry room and 2-car finished attached garage. As an added bonus, this new home meets all the new green codes for City of Los Angeles adopted in January 2011.Ceiling fans in all rooms including both front and back porches.
Category Current Listings | Tags: | 1 Comment
May 3, 2011 by Lynnell Woodward
T
Gorgeous Spanish Home
here is just something special about this street. The Altadena Estates area is an exceptional neighborhood, and Minoru Avenue seems to showcase the best of it: character homes, wide lots, mature trees, and the backdrop of beautiful hills. It was here in 1927 that this artful one story Spanish was built. The original character has been tastefully enhanced by the owner of this special 3 bedroom, 2 bath with a family room home. The formal living with exposed beam ceiling, gleaming hardwood floors, and a gorgeous tile fireplace. The bright kitchen opens to the dining room and overlooks the expansive back yard and pool area. From the family room French doors lead to a delightful Saltillo tile patio with fountain and leads to the pool area and rear grounds. The home also has great landscaping, flat grass play yards, central air and heating, and all of this on 1/2 acre lot!
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