Archive for August, 2009

As energy costs rise and resources become scarcer, more homeowner associations are finding ways to reduce energy consumption and “go green.” With state legislation placing limits on the authority of HOAs to prohibit or regulate certain energy generation devices and energy efficient measures,the issue has come to the forefront of the attention of both HOAs and owners. Given all of this, what are some ways homeowner associations can be proactive in creating or encouraging green practices?

Recycling. If your HOA has centralized trash collection, contract with your trash removal contractor to also provide for recycling. If your community has curbside pickup, recycling may be included in the cost of that pickup. Encourage all residents to recycle.

Reduce Water Consumption. Many HOAs have overly ample open space, much of which may be landscaped with lush grass. While grass is attractive, there are many turf and xeriscaping alternatives that require less, if any, water. Consider replacing high-water consuming plants with plants that require less water. Allow owners to install xeriscaping, subject to any approval requirements for any landscaping project.

Practice Landscape Water Management. Apply the appropriate amount of water needed to maintain a healthy landscape. This requires an understanding of plant water use, soils and the irrigation system installed. Spray sprinkler heads distribute water at a different rate than rotor heads, so having both types of heads on the same zone can lead to over saturation in some areas and dry spots in others. Install smart controllers to detect when plants actually need water. Install rain sensors so turf areas are not being watered when it is raining. Your landscape contractor should have expert knowledge of irrigation equipment alternatives. If he doesn’t, hire one that does. Equipment needs to be continually monitored and adjusted for greatest water use efficiency.

Energy Conservation or Generation. If your HOA has a clubhouse, have an energy audit done to determine where energy use could be reduced. There may be some simple and inexpensive ways to reduce energy consumption, such as installing weather stripping and programmable thermostats. Replace furnace filters on a regular basis. Replace incandescent light bulbs in the common area light fixtures and lamps with compact fluorescent bulbs. Install photocells or timers on outdoor lighting.

Consider installing solar panels to heat the pool or provide power to the clubhouse. If your HOA makes an energy efficient purchase such as solar panels there many be a tax credit available. While HOAs typically are not be eligible for the tax credits because they don’t pay taxes, the tax credit may be bought by those that do or possibly passed through to HOA members. There are strict guidelines on the types of expenditures that are covered, so check with your CPA for more details.

Review the Governing Documents. Review the governing documents and amend them to eliminate provisions that discourage or prevent energy efficiency and add provisions to include proactive provisions to encourage green activities.
This is just a small sample of things HOAs can do to reduce costs and help the environment. There are countless resources and websites that can provide in-depth information for associations. Check out:

epa.gov
nrdc.org/greenliving
usgbc.org
regreenprogram.org
treehugger.com
plantnative.org
caigreen.org

by Richard Thompson, Realty Times. Excerpts from an article by Trisha K. Harris, Esq.

The Valerie Fitzgerald Group specializes in luxury residential real estate in Beverly Hills, Bel Air, Brentwood, Santa Monica and Malibu. Valerie has more than 20 years of real estate experience and is known for her solid reputation in the West Los Angeles brokerage community. She’s also the author of Heart and Sold: How to Survive and Build a Recession-Proof Business.

Subscribe to this blog at Valerie Fitzgerald Group Blog.

The affluent consumer market is on the rise. The Luxury Consumption Index (LCI) shows that consumer confidence is increasing, as the average dollars spent on luxury goods is up ytd and from first quarter to second quarter of this year. Buyers, brokers and developers alike express optimism, forecasting that the more than two-year decline in homes sales is over and that the consumer market is emerging from the recession, putting purchasing power back on the market. Marked by August posting a third consecutive month-to-month gain in Los Angeles home prices, the real estate market is gearing up for a bright fall with brisk sales.

According to Valerie Fitzgerald, luxury real estate broker and head of sales at The Carlyle Residences – “Buyers are back – but expectations are higher. No longer in a wait-and-see position, they are ready to buy but want better quality and a stronger investment value, which has forced the marketplace to re-evaluate, adjust and deliver on its promises. In real estate, true luxury stems from a combination of Location, Space and Finishes. Properties that can deliver on all three are seeing buyers returning, ready to make a purchase.”

The Carlyle Residences, by the ELAD Group, developer of New York’s venerable Plaza Hotel, is one such property. The newest luxury high rise on the Wilshire Corridor, it is located on one of Los Angeles most coveted addresses, The Golden Mile. Once again enjoying the high life, with a lineup of posh new developments, this two-mile stretch of the corridor is making its biggest play yet to become the Lake Shore Drive of the West. Residents at the Carlyle can expect the unexpected, as the 90024 zip code is no longer the home of tradition, but rather a trendsetter in the marketplace, attracting the highly successful international elite, young Hollywood and business moguls alike.

The investment value at the The Carlyle Residences is apparent from the street, the crescent shaped building set back with a generous and glamorous driveway leading up to an architectural porte crochere. The all-important Grand Lobby, the calling card of every luxury high rise, is lavishly appointed in exotic wood and stone, with a $1Million Dale Chihuly chandelier the focal point of the circular shaped space. Each residence is accessed by an individual elevator, opening into a private foyer. The residences are intelligently laid out for the modern lifestyle, with the highest quality Poggenpohl kitchens and baths, his and her bathroom and closet suites and soaring ceilings with walls of glass, bathing the space in California sunlight.

The Carlyle is seeing brisk traffic and multiple offers, attracting the most discriminating homeowners who are seeking the perfect retreat from the rigors of the city – yet within easy reach of the beaches, Beverly Hills, Century City and Downtown.

To further facilitate the sales, ELAD Properties, one of the world’s leading real estate developers, has secured a financing facility with its construction lender, HSBC, to provide mortgage financing for qualified buyers of its luxury residences. Buyers are able to finance their purchase, avoiding the financing restrictions most often associated with new construction, making The Carlyle Residences the best positioned and most secure investment value in Los Angeles luxury, multi-residential market today.

The Carlyle Residences offers quality, glamour, the ultimate privacy and security, as well as concierge services that are unmatched. Among the Carlyle’s unique features are collaborations with world renowned luxury brand Fendi CASA, offering residents a grand lobby, common spaces and private dining room appointed by Fendi furnishings, and with Sports Club LA, designing and powering a health spa with lap pool, surrounded by lush landscaping, as well as a wine cave, concierge services, valet and doorman.

The Carlyle Residences is the last permitted high-rise on the Wilshire Corridor. It is located at 10776 Wilshire Boulevard, in Los Angeles, California. A 24-story crescent-shaped tower, showcasing spectacular views from the Santa Monica Mountains to the Pacific Ocean, the Carlyle Residences offers 78 residences ranging in size from 2,700 – 5,000 sq. ft., each with private elevator entrances. For more information, please call 310.208.1300 or visit www.carlyleonwilshire.com.

The Valerie Fitzgerald Group specializes in luxury residential real estate in Beverly Hills, Bel Air, Brentwood, Santa Monica and Malibu. Valerie has more than 20 years of real estate experience and is known for her solid reputation in the West Los Angeles brokerage community. She’s also the author of Heart and Sold: How to Survive and Build a Recession-Proof Business.

Subscribe to this blog at Valerie Fitzgerald Group Blog.

There is no shortage of advice on moving. There are books devoted to the subject, ideas on the Internet and most moving companies offer tips.

But there’s nothing like benefiting from the wisdom of those who have gone before you. That’s right, people who have made moves and are still coherent enough to talk about it.

Here’s 10 tips from everyday people who gave their best advice in chat rooms and Internet forums.

1. Start early. By far the top advice offered. Packing takes longer and is more difficult than most think. By starting to pack early, perhaps doing a room a day, there will not be the frantic rush at the end. You will also be more organized. When you run out of time or are burned out by doing everything at the end, you will throw the unpacked stuff in a box, tape it up and send it on its way.

2. Think thin. Go through your belongings and decide what you really need and want to keep. Get rid of anything that you haven’t used in a year or so, unless it has sentimental value. Movers charge by weight, so the lighter the load the more money you save. Plan to go through everything at least twice, with a week or more break between. You should find a lot to cull on your first pass. After getting used to the idea, do it again a couple weeks later.

3. Have everything labeled. Don’t just label each box with the room in which it belongs. Write down the contents. You (or your unpackers) will be glad you did when you try finding the hair dryer or a specific kitchen utensil. Bonus hint: Don’t overuse the “miscellaneous” label. Otherwise you’ll get to your new home and have a dozen boxes of miscellaneous and almost no idea what’s in them.

4. One at a time. Stay organized and have one room packed fully and then move on to the next. If you don’t, you’ll end up with boxes full of miscellaneous items from several rooms.

5. Gang box. Have smaller items put in small boxes and put small boxes into a bigger box. Small boxes are more easily lost or damaged.

6. Take it with you. Any personal financial information and important papers should be taken with you or shipped to you by family or a friend after your move-in. Identity theft is one reason, but so is the difficulty in replacing important documents, recreating bank statements or losing passports.

7. Value valuables. Most moving companies would rather you not ship your highly valuable items, such as jewelry, artwork and collections. Many times expanded moving insurance through the carrier or a third party will be needed.

8. Essential fact. Always have a box for essentials that you will want or need when everything is delivered to your new home. Remember: Last on, first off. So make sure the well-marked essentials box is the last one loaded onto the truck. Some recommendations: Towels, soap, toilet paper, sheets, coffee maker, drinking cups, eating utensils, pens and notepad.

9. Inventory. Make a list of every item/box that goes on the moving van and take it with you. Have a family member mark the boxes and items as they come off the truck. This is especially important if your belongings will be transferred from the truck to storage before being delivered. If a box is missing, lost or left behind it could be months before it’s realized.

10. Think outside the box. For items you think will be stored in the attic, garage or closet at your next home, consider getting inexpensive plastic storage bins. The home improvement and general merchandise stores usually carry them. This will save you on buying extra boxes and unpacking them when you get to your new home. Also, for stuffed animals, towels and other soft items, consider using large trash bags, they are much cheaper than moving boxes.

By Rick Hazeltine on Moving.com

Valerie Fitzgerald specializes in luxury residential real estate in Beverly Hills, Bel Air, Brentwood, Santa Monica and Malibu. Valerie has more than 20 years of real estate experience and is known for her solid reputation in the West Los Angeles brokerage community. She’s also the author of Heart and Sold: How to Survive and Build a Recession-Proof Business.

Subscribe to this blog at Valerie Fitzgerald Group Blog.

Los Angeles definitely may be feeling like there are some angels on her shoulders.

In July, L.A. witnessed a 22.6 percent rise in home sales, compared to July 2008 says Los Angeles based MDA DataQuick.

Deals are still to be found, as average home prices continued to fall, down nearly 20 percent last month.

A total of 8,082 homes sold in July, up from 6,592 last year. Median home prices are down nearly $80,000 from one year ago in Los Angeles county. You’ll pay approximately $321,000 for a home that ran about $400,000 last year.

Demand tends to be concentrated in lower- to mid-priced homes where buyers can’t fathom prices will drop any lower. Multiple offers are beginning to pop up like witnessed during the peak of the market several years ago. In some instances bidding wars drive up the final sales price over listing price.

But with job losses and foreclosures showing no sign of slowing to a loud whisper, many analysts remain skeptical the market’s hit bottom.

Even though 80 percent of sales take place in the lower to mid priced market, luxury real estate is beginning to see more activity as well.

Many home owners in L.A. affluent neighborhoods are excepting their fate. They’ve come to terms with what their homes will fetch or they really want to move or a job has taken them to another market.

Valerie Fitzgerald specializes in luxury residential real estate in Beverly Hills, Bel Air, Brentwood, Santa Monica and Malibu. Valerie has more than 20 years of real estate experience and is known for her solid reputation in the West Los Angeles brokerage community. She’s also the author of Heart and Sold: How to Survive and Build a Recession-Proof Business.

Subscribe to this blog at Valerie Fitzgerald Group Blog.

If your house is located within easy walking distance to Starbucks, Whole Foods, great dry cleaners and hip restaurants with top chefs, your “home sweet home” could command $4k to $34k more than similar houses in less walkable neighborhoods.

“Walking the Walk,” was a study conducted by CEOS for Cities, a firm that promotes sustainable and friendly-living towns and cities. The study drew on approximately 90k recent home sales in 15 markets in the US.

According to Inman News, walkability was defined using an algorithm dubbed Walk Score that was developed by “civic software” developer Front Seat. And 47% of Los Angeles residents live in neighborhoods with Walk Scores of 70 and above.

Find your score at Walk Score.

The Walk Score algorithm calculates a property’s proximity to restaurants, coffee shops, schools, parks, stores and other amenities, assigning a score from zero to 100 depending on how many are within walking distance. A Walk Score of 70 or above indicates neighborhoods where it’s possible to get by without a car.

The study, which controlled for factors such as property size and a neighborhood’s income level and proximity to jobs, found a one-point increase in Walk Score was associated with an increase in value ranging from $500 to $3,000, depending on the market.

How L.A. neighborhoods’ Walk Scores rate (out of 100):

Hollywood 95
Carthay Square 94
Los Feliz 92
West Hollywood 91
Beverly Hills 89
Venice 89
Pacific Palisades 85
Santa Monica 85
Century City 78
Culiver City 77
Wilshire Corridor 62
Brentwood 55
Bel Air 32
Hollywood Hills 17
Malibu 14
Silverlake 2

Valerie Fitzgerald specializes in luxury residential real estate in Beverly Hills, Bel Air, Brentwood, Santa Monica and Malibu. Valerie has more than 20 years of real estate experience and is known for her solid reputation in the West Los Angeles brokerage community. She’s also the author of Heart and Sold: How to Survive and Build a Recession-Proof Business.

Subscribe to this blog at Valerie Fitzgerald Group Blog.

Walk score snapshot of West L.A. neighborhood