Don’t Forclose! Do a short sale

By: Kyle Gulock

You can understand that a homeowner who has lost a job and is without income has to default on his mortgage. But more and more homeowners who CAN make their payments are still deciding to default and walk away if the value of their property has fallen to less than they owe. Seeing no future in making payments on a declining asset, they are throwing in the towel, packing up, leaving, and hoping to make a deal with the bank to forgive their loans.

Over 10% of more recent defaults are strategic. Higher net worth homeowners are more likely to adopt this strategic strategy. One study identified 12 million homeowners who may be facing or choose default in the next 3 years. About 20% of all homeowners are “under water” on value. Any homeowner who purchased or financed in 2006, 2007 or 2008 is likely to be in this boat. Nearly 10% of all homeowners were delinquent at the beginning of the year, and nearly 5% are somewhere in the foreclosure process. There are all big numbers, and are casting a shadow over any actual or hoped for housing recovery.

The banks can write down the value of loans to fair market value, and this helps the homeowner in trouble. But somebody has to pay for this discount, and that somebody is all of the other responsible homeowners who ARE making their payments.

A short sale is a solution that works for both bank and homeowner in the situation described above. Plus, these sales are better for distressed borrowers because their credit scores suffer less. Going through a foreclosure can knock 200 points off a FICO score, twice as much as the penalty for a short sale.

By: Kyle Gulock

Homeowners able to refinance were finding lenders offering 15-year fixed-rate mortgages at an average of 4.21% this week, according to Freddie Mac — the lowest rate since the mortgage company started tracking the 15-year loan in 1991.

Click on the link below to find out more :

http://latimesblogs.latimes.com/money_co/2010/05/how-low-can-they-go-15year-fixed-rates-at-record-low.html

There has been a $40,000 price reduction on 23814 Mulholland Hwy, Calabasas, CA 91302.

By: Kyle Gulock

This Sunday May 16, 2010 I will be holding an open house at 23814 Mulholland Hwy, Calabasas, CA 91302 from 2:00 -5:00 p.m. This property has 2 bedrooms/2 bathrooms and is listed for $559,000. This Charming Rural Calabasas craftsman’s style home is nestled in a serene setting. This home is minutes to the Commons, newly renovated with brand new stainless steel appliances, and amenities include cook’s kitchen with granite counters. Walnut wood floors tumbled Limestone tile, Pella windows, Spa tub in Master bath, newer electrical, copper plumbing and new 3 ton Tempstar Heating & air unit and tankless water heater. The exterior features brand new Mangaris front and rear deck, interlocking paver walkway and new roof. Relax in your own private spa.

Reactor watches, the best watches in the world.

Recently, I bought a Reactor watch from their store in Agoura Hills, CA. I had a tough time deciding which watch I wanted to buy, but I eventually decided to go with the Neutron (Metallic White Stainless bracelet).. This watch is comfortable, big faced, elegant, and durable. It is great to wear a watch and not have to worry about it getting nicked up.

 Two weeks later my friend had a birthday, I’ll let you guess what his present was…..A Reactor watch.  Since I bought this watch, I have decided that Reactor watches will be the only kind that I buy.

This Sunday May 16, 2010 I will be holding an open house at 23814 Mulholland Hwy, Calabasas, CA 91302 from 2:00 -5:00 p.m. This property has 2 bedrooms/2 bathrooms and is listed for $595,000. This Charming Rural Calabasas craftsman’s style home is nestled in a serene setting. This home is minutes to the Commons, newly renovated with brand new stainless steel appliances, and amenities include cook’s kitchen with granite counters. Walnut wood floors tumbled Limestone tile, Pella windows, Spa tub in Master bath, newer electrical, copper plumbing and new 3 ton Tempstar Heating & air unit and tankless water heater. The exterior features brand new Mangaris front and rear deck, interlocking paver walkway and new roof. Relax in your own private spa.  

Come visit me this Sunday from 2:00-5:00 p.m.

The Rooftop Bar at The Standard is located at 550 South Flower Street, Los Angeles, CA 90071. The Rooftop Bar at The Standard is a great place to meet friends, clients, or spend a night out in downtown. The Rooftop bar at the standard is unlike any place in Los Angeles because it is situated a top The Standard hotel, 16 stories above downtown Los Angeles. This venue boasts some of the best views in the city of Los Angeles. The Rooftop Bar at The Standard features a pool side bar and café, Red Astro-Turf sundeck with waterbed Cabanas, and heated roof top pools. The Rooftop Bar at The Standard offers one of the most unique experiences in downtown LA.

This week’s course of the week is Trump National Golf Club, which is located at One Ocean Trails Drive, Rancho Palos Verdes, CA 90275. Trump National Golf Club has five sets of tee boxes ranging from 7,242 at the tips and 4,538 at the front. This course was built by Donald Trump, and like everything else that he does it is simply the best. The service is top notch, you can see the ocean from every hole, and the course is magnificently manicured. There were man made waterfalls that graced the course and these were absolutely stunning.

Having said all of that, there seemed to be something missing while playing at Trump National Golf Club. Don’t get me wrong, it is the best place to play in Los Angeles. However, I don’t think that this course can be put into the elite class of courses around the country. While playing Trump National all of the holes seemed to run together. There wasn’t that one signature hole that really ingrained itself into your memory. If you are ever in the Los Angeles area and looking for more information on Trump National, Click on the link below: www.trumpnationallosangeles.com/

A beautiful private gated Spanish home set on a street to street lot in the Hills of Studio City. This house was built in 1937 and has been called home by many celebrities over the years. During the Northridge earthquake in 1994 George Clooney called 11655 Laurelcrest home. Since 1994 the house has been occupied by Jaime Pressly, who stars on the show “My name is Earl”, and Justin Berfield who played the oldest son “Reese” on the hit show “Malcolm in the middle”.

This property is currently listed by Ewing and Associates Sotheby’s International Realty’s Joan Duffy for $1,569,000.

There are a lot of yogurt places that have opened in Southern California over the past few years including Yogurtland, 21 choices, and Menchies to name a few. However, Pinkberry is by far my favorite. The Pinkberry that I go to most frequently is located at 3300 W 6th St. #4 Los Angeles, CA 90020.

 There are a lot of choices and combinations that you can create when eating at Pinkberry. I always get the original and pomegranate swirl and then various fruit toppings like pineapple, strawberries, and blueberries topped with roasted almonds. Every time I go to Pinkberry Los Angeles, I am leave wanting more. Make sure to stop by Pinkberry in Los Angeles and get your daily dose of swirly goodness.

This week’s course is Tierra Rejada Golf Club which is located at 15187 Tierra Rejada Road, Moorpark, CA 93021. Tierra Rejada is a public golf course that opened in 1999 and is one of the most challenging courses that you can play in the Los Angeles area. Tierra Rejada is a truly unique layout because it offers both mountain and desert golf in the same round. Tierra Rejada may be played from four (4) sets of tees, (5,148 yards from the forward tees to over 7,000 from the back tees), each catering to a golfer’s own ability.

Tierra Rejada is a must play course because of all the unique features that it offers. Also, there is a plethora of great real estate in the Moorpark area. To see a home that has been just listed near Tierra Rejada in Moorpark, Click on the link below: www.14385MangroveSt.com.