Silverlake Real Estate Services Centre
SilverLakeRealEstateSC.com
 
 
Contact: 
Bill Brame

 
1615 Lucile Ave
Los Angeles
CA 90026
323-667-2150

         Bill

Billbrame@gmail.com

     
The most Affordable Hollywood Hills Home you'll ever see!
August 15, 12:38PM

 

It seems somewhat contradictory to the current housing market’s activity, but if one has good credit, FHA financing is available to pursue many outstanding deals. With a limit of $729,000 for the purchase price (and prices being so low right now), it is an incredible time to purchase a home. Perhaps not as an investment, but if you are looking for a HOME, there has not been as good a time to buy in years.

 

I have a 2BR and 2 BA, 1,300 sq ft home available for the purchase price of $640,000.  The house can be purchased with $32,000 down, and a  monthly mortgage payment (including taxes and insurance) of $2,800 per month.

 

Factoring in less than a $36,000 payment yearly, a large amount of this cost would be written off on your tax bill (roughly 1/3, equaling $12,000 in annual savings).

 

It beats renting and you’ll be living in a beautiful iconic Hollywood Hills home, that would bring out the stars in the eyes of your better half J.

 

“Can We Talk?” Let’s start your American Dream now!

 

 

 

 

 


 

 

 
Today's Housing Crisis.  They describe it as a "micro trend".
August 8, 2011 10:58AM


It consists of people who want to live in the smallest places possible.  Think Tokyo apartments in the 60's.  These new efforts are called "tiny houses".  They are houses of a hundred to one hundred twenty square feet and are generally built on trailer platforms.  

Tiny houses feature only necessities for simple living:  barely enough living space, tiny stoves, and refrigerators built in like wall safes.  For the basic "tinys" there usually is no plumbing, therefore no toilet or showers.

Kent Griswold began Tiny House Blog four years ago and reports the tiny revolution is sprouting all over the country.  Often these tiny houses violate building codes, thus making them illegal.  These small dwellings are popular with young people who would like to own and avoid property taxes, older people who are just looking to simplify their maitenance and  of course, the transient group who nomadically roam the lay of the land.

Typically it costs just under $20,000 to build one of these simple, yet humble abodes...only thing is you need the rig to pull it if and when the time comes for you to move.

With today's economical turmoil, it's amazing how people are finding ways to survive.  Do you think you and your family could survive in one of these if you HAD to?
Pardon me, may I Assume your Mortgage???
August 1, 2011 10:15AM
Appearing to have been built on a common (legal) practice from the 1980's, I've noticed a current scam slithering through today's real estate market.  It's the ever so popular: buying a property, by "assuming'" the existing mortgage.  

Back in the 80's (insert denim jacket here), this was actually acceptable on certain types of mortgages, but in order to make the transaction work, you had to have the permission of the mortgage company.

The current application of that attempts to assure the principles involved that it can work, "...because what lender would foreclose on a property if they were receiving the monthly payment?..."

These agents aka "artists" will do their very best to convince you (the Seller) that you can list and sell your home to a buyer (who can't qualify for a new loan) by assigning your mortgage payment over to the new buyer (in most cases, you the seller, will still be financially responsible for your monthly payment), putting their monthly funds towards paying your selling expenses (agent commissions/closing costs), while also collecting some profit for yourself.

It beats losing your house in foreclosure and ruining your credit, right?  Be careful.  

There is a great incentive for agents offering these types of deals:  a fast commission.  Unlike a conventional transaction that typically has an escrow company in place to monitor the sale, many of these scams do not and are able to close very quickly.  As soon as the deal is done, the agent moves on and may feel he has no liability should the new buyer stop making your mortgage payment, thus ruining your credit profile.

Should you be a seller in this type of scenario, contact a real estate attorney for proper legal advice and beware of these ongoing assuming or rent to own scams!  I am not an attorney and all the aforementioned information is my opinion, based on my 20+ years real estate work experience.

Please contact me with any questions or concerns billbrame@gmail.com