Short Sales Defined - The Rise of Silver Lake Foreclosures

The rise of Silverlake foreclosures have saturated the local market. It seems that almost every neighborhood has at least one home that is in the process of foreclosure. If you don’t know what the term “SHORT SALE” means, it it defined as the following:A sale of a house in which the proceeds fall short of what the owner still owes on the mortgage. Many lenders will agree to accept the proceeds of a short sale and forgive the rest of what is owed on the mortgage when the owner cannot make the mortgage payments. By accepting a short sale, the lender can avoid a lengthy and costly foreclosure, and the owner is able to pay off the loan for less than what he owes.

From the California Association of Realtors, “Homeowners faced with stalled appreciation, little or no equity, and subprime adjustable-rate mortgages (ARMs) that are resetting to higher rates are combining into something of a perfect storm. * Many subprime borrowers are barely treading water and others have precipitated a wave of foreclosures that is unlikely to ebb anytime soon. * The statistics are daunting. In April, DataQuick reported that the number of default notices (NoDs) sent to California homeowners last quarter increased to its highest level in almost 10 years. Between January and March, NoDs were up by 23.
For Buyers:
This is a great time to buy Silverlake foreclosure homes. The banks have finally awakened and are ready to negotiate with qualified buyers. Most banks minimum requirements for accepting offers has been 10% down, strong fico scores, and being able to provide proof of income. If you meet these basic requirements, then you can buy many great Silverlake Foreclosure opportunities.

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Reasons why condos are a great second home!

If you make a Hollywood Hills Condo or Hollywood Hills Townhome your second home chances are you will be very happy with your choice.

More than seven in 10 condo and townhome owners say they are satisfied with their purchase, according to a recent survey conducted by Zogby International for the Foundation for Community Association Research. The foundation conducts surveys periodically to keep track of the perceptions of owners who live in condos and townhomes and also to identify trends in the condo market.

There are a number of reasons why satisfaction is such a big trend in regards to communities governed by homeowners associations. Compared to single‑family homes, condos are generally less expensive. Cheaper prices make condos cheaper to operate as a vacation home, because property taxes, homeowners insurance and utility bills cost less. Townhomes and condos are also easy on your back!

Landscaping chores are not managed by you but by the association. Given the average condo has a smaller sq. footage than the average single family home keeping the interior clean and up to date is much easier. If this property is a vacation home then this means much less time and money spent on upkeep.

What's more, the homeowners association, as the community's on‑site governing body, is there to serve the best interests of the community. The association protects your home's value, provides security for the community and uses a professional management company to keep on top of operations.

Furthermore, the association is there to serve the best interests of the community. They protect your homes valuem, provides security and uses professional management companies to keep on track of operations.

All and all, with a single‑family home, not only could you spend more, but you are also pretty much on your own keeping things in working order. And lets face it who wants to being doing that when you could be enjoying your investment and entertaining guests!!

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Using Scent makes sense when selling your home!

Small actions may make big differences in getting your Hollywood Hills home sold!

"When buyers walk into a house before they actually see anything in that house, because they breathe, they are smelling. So they are actually getting an impression, whether it's conscious or subconscious, of your home ‑‑ just by the way it smells," says Rick Ruffolo, senior vice president of brand, marketing, and innovation for Yankee Candle Company.

Choosing to proactively make a statement in the way your home smells is just another step in helping to sell your home faster.Ruffolo says curb appeal gets buyers in the door but then they see and smell your house and begin to decide if this is the property for them.

So, right now take a deep breath, what kind of smells are coming from your house?

"If it's a vacant home it can be musty. But if it's an active home it also could have odors of whatever activities that are going on in that house," says Ruffolo.


Are home buyers going to smell the dirty dog that has been running all over your home after a long walk? Are they going to smell your gym bag filled with dirty and soiled socks that have been buried in the hamper for the last few weeks? Or how about the cat litter box that needs to be cleaned? While we all have different preferences for scents most would agree that none of the above are welcoming aromas.

Creating pleasant aromas in your newly‑listed house can help the buyer to experience an emotional connection with the home. Ruffolo says when it comes to bathrooms, great rooms, or even basements it's a good idea to try different fragrances. "You may want to think of what we refer to as clean or fresh fragrances and those could be based in various fruits, so the citrus family is a really good one," says Ruffolo. He also mentions that any fragrances that are over powering are good to avoid.

Ruffolo encourages home sellers to use fragrance that appeal to many such as vanilla, kitchen spices, citrus or freshly cleaned laundry. There are many things that can help the scent of your home. From candles to oil diffusers they are both decorative and powerful. Ruffolo says with all the tips out there about selling a home, the scent factor is often the most forgotten.

"If you don't have a scent that you want in there, buyers are going to smell whatever is going on in that room. So if it's been closed up or doesn't have a lot of air flow there will be more of a musty, damp, or a less desirable scent," explains Ruffolo.

All and all it just makes sense to have scent as a part of selling your Hollywood Hills home.

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West Hollywood’s Foxtail is open for business!

West Hollywood's Foxtail with its art deco, art nouveau decor has opened! But it’s not just another pretty face; it’s SBE’s Sam Nazarian and Brent Bolthouse’s new gorgeous supper club.

After work sip one of many signature cocktails such as Uva Bellas (green grapes with gin, St.-Germain, lemon juice and orange bitters) at the bar or on one of the long banquettes at geometric marble tables in the lounge.
Reserve a seat in the luxurious dining room which features custom-cast plaster wall friezes, dark wood accents and mirror tiled ceilings and order oysters and caviar or French bistro fare such as: onion soup gratine, seared tuna nicoise, lamb ragout,steak frites with fried egg and black truffle and to die for sweets such as lavender pot de creme.

Soon the upstairs area will open which will feature a swank dance floor as well as a cozy enclosed patio with a fireplace.

You will not want to miss this hot new venue!

Foxtail, 9077 Santa Monica Boulevard, between Doheny Drive and Nemo Street, West Hollywood