Archive for the ‘Buying a Home’ Category

Phase 1 of the SKY Collection at Latitude 33 was met with unprecedented success and demand and Latitude 33 is thrilled to release the pricing for Phase 2 of the SKY Collection.

Designed for those seeking a high-design, style-celebrated, private lifestyle in a concierge-attended setting, Latitude 33 boasts impressive interiors with designer-selected wood flooring, floor-to-ceiling windows, pre-wiring for internet, cable and satellite TV, Energy Star® Appliances, granite or CaesarStone® countertops, Porcelanosa® Backsplash, Bontempi® or Gato® cabinetry, Wolf® Stainless Steel Appliances and more.

So, there is a lot to be excited about. There are only 45 Units in the SKY Collection and phase 2 marks the release of 7 more.

For more visit: http://www.latitude33la.com/blog

Home prices in 20 major U.S. cities gained in May, according to data released Tuesday, boosted by the effects of federal tax credits that have now expired.

Prices of previously owned single-family homes rose 4.6% in May compared with May 2009, according to the Standard & Poor’s/Case-Shiller index of 20 metropolitan areas, a closely watched index of home prices. The 20-city index was also up 1.3% from April.

Experts warned that the jump in prices is not likely to last given that what was driving much of the market in the spring were tax credits offering up to $8,000 for certain buyers. They expired April 30. Because the index combines data from three months’ worth of sales, including May, it probably captured the run-up in homebuyer demand.

“While May’s report on its own looks somewhat positive, a broader look at home price levels over the past year still do not indicate that the housing market is in any form of sustained recovery,” said David M. Blitzer, chairman of the index committee at Standard & Poor’s. “Since reaching its recent trough in April 2009, the housing market has really only stabilized at this lower level.”

Prices in California cities continued to appreciate on a month-over-month basis, the non-seasonally adjusted index shows, with Los Angeles up 1.7%, San Diego up 1.1% and San Francisco up 1.7%.

Other cities that gained in May included Atlanta, 2%; Boston, 1.6% and Dallas, 1.5%. Las Vegas fell 0.5%.

Adjusted for seasonal variations, the 20-city Case-Shiller index was up 0.5%. But Standard & Poor’s has warned that the index’s adjusted version is no longer a reliable gauge of prices because of distortions caused by the economic crisis.

From L.A. Times

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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 the book published by Simon and Schuster Heart and Sold: How to Survive and Build a Recession-Proof Business.

Search Luxury Homes in Los Angeles at Valerie Fitzgerald Real Estate Listings or contact Valerie Fitzgerald at 310-285-7515.

The right or wrong decision when signing your home mortgage can mean thousands of dollars difference in interest paid. There are very important considerations to evaluate before you commit to a 15 or 30 year note.

For many of us our mortgage payment is the most important financial decision we’ll ever make. Doesn’t it make sense to know as much as possible about the financing of our home? Take the time to thoroughly investigate all of your options!Unbelievably, many of us sign the first mortgage placed in front of us. Typically the excitement of the new home purchase reduces the mortgage to not much more than an afterthought. What you read here could save you hundreds or even thousands of dollars.

Your real estate professional has established relationships with the top lenders in your area. By aligning yourself with a professional agent you ensure that all the financial steps are taken care of properly and economically. Utilize a Lender With Established Ties to an Agent – Lenders are much more flexible with the real estate agents who have done business with them previously. This relationship then establishes them as a team. The lender and agent work effectively together, referring each other business.

That’s why a good agent can make substantial difference in setting up the most economical financing. And the right financing can, literally, save you tens of thousands of dollars over the life of your loan!Don’t Attempt Paperwork Alone – All the paperwork required to complete the purchase of a home can be quite intimidating and frustrating for a home buyer. Make sure you have your lenders help you with all the paperwork. Get help from your team, your lender and agent. Their expertise will help alleviate the stress and it will prove to be invaluable before you sign your mortgage.

Look at All Your Options - Make sure you see at least 5 loan programs for your mortgage. Lenders have at least 10 programs and should work with you and your agent on deciding what is best for your circumstances. Evaluate all your options. After all it’s your money you’re spending – not theirs!

Demand Service - There is little difference between a bank, savings and loan, or a mortgage broker when it comes to the competitiveness of their loan rates. The difference is in the service they provide. It is their job to serve you! You want to get the loan approved and move into your new home as quickly as possible, but don’t overlook the fact that you are the one spending the money and they are the ones who should cater to your needs. Don’t let the process become so intimidating that you lose that understanding.

Stay in Complete Touch – You should receive a written report from your lender about every step. This will ensure that no details are overlooked and there will be no surprises.

Negotiate a Flexible Loan - Don’t just accept the terms they lay down in front of you. Lenders are in the business of loaning money and they want your business. Make sure you examine every option available to you. If you negotiate a variable rate loan, many lenders have the ability to move you into a fixed loan if rates start going up. Make sure that you understand whether or not that is an option in the package you are looking at.

Don’t Give Up on the First No - Initial decisions are not always final decisions. Going to a higher authority can sometimes get you the loan, but do so with the assistance and compliance of your lender and agent. Many times special circumstances when explained properly to the person in charge, will win you the loan.

Don’t Wait for the Bottom of the Market - The odds of you hitting the bottom of your market are about like the odds of you hitting your state lotto! You will almost never hit the bottom of a market. And trying to time it exactly right is often costly. It usually causes a person or family to miss out on the opportunity to purchase a very nice property. You’re better off simply negotiating the best rate and terms you can at the time you find a property. If interest rates go down, you can refinance. This is a much better approach because you won’t miss out on the property you’ve spent so much time locating.

Be Honest With Your Lender - Your lender wants to help you with your loan. The only time they get paid is when you get approved. The more information (good or bad) you provide your lender, the easier it will be for them to get an approval. It helps them present the loan in the best light. This in turn helps the loan get the highest approval rating.

Become Completely Educated – Pick your lender’s brain. Lenders will teach you all about your various options, even if you haven’t found the right property yet. They will be very patient with you while you are looking, especially if you have aligned yourself with the right agent. They understand all the up-front work will pay off in future business. Your agent will then continue to refer people to the courteous and service-minded lender on down the line.

Get Prequalified - Lenders will provide you with a certificate of pre-qualification. By getting prequalified you know exactly what financial parameters to stay within. Your agent and lender will consult with you and help you get qualified for the loan that best fits your needs. Many times they are able to get you a larger loan than you may have thought possible.

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 the book published by Simon and Schuster Heart and Sold: How to Survive and Build a Recession-Proof Business.

Search Luxury Homes in Los Angeles at Valerie Fitzgerald Real Estate Listings or contact Valerie Fitzgerald at 310-285-7515.

Los Angeles-based SunBrook Partners announce Valerie Fitzgerald as the exclusive sales agent for their new beach community development Latitude 33 which opened officially on Wednesday, June 16.

Located in Marina Del Rey at 330 Washington Blvd, Latitude 33 is a collection of 122 homes two blocks from Venice Pier starting in the low $600s. The community is made up of luxury condominiums, town-homes and high-rise flats. The top two floors of the building are exclusively penthouse units.

“This is a long awaited debut for this amazing and culturally-expanding community,” says Valerie Fitzgerald. “This project offers contemporary beach living with traditional Southern California lifestyle.”

A modern beach-inspired community combining Los Angeles’ high-style attitude with the unique and eclectic flavors of the locale, Latitude 33 offers flats and townhomes in three distinctive yet complementary lifestyle collections: the SKY Collection, BOARDWALK Collection and BEACH Collection. Latitude 33 combines an inviting atmosphere with a unique coastal backdrop, perfect for enjoying the ultimate California lifestyle.

A West Los Angeles veteran representing high-profile new construction projects, Fitzgerald knows what it takes to promote and sell high-end real estate developments from the construction phase to roll out. Fitzgerald most recently oversaw sales at The Carlyle Residences (The Elad Group of New York’s Plaza Hotel), a 24-story, 76-unit tower rising on the Wilshire Corridor. In 2005 she lead sales at The Century, as well as at The Hollywood in 2009.

Latitude 33 offers residences ranging $600,000 to $2,400,000. Residences include designer-selected wood flooring in entry and throughout main living areas dramatic floor-to-ceiling windows and private balconies with glass rails. Kitchens have modern Italian cabinetry featuring clean lines of Bon Tempi or Gato design, elegant granite countertops, professional quality Wolf stainless steel built in appliances, Sub Zero refrigerators and wine coolers, Grohe stainless steel faucets and Kohler stainless steel sinks.

Valerie Fitzgerald has more than 20 years real estate experience and one of Coldwell Banker’s top producers nationwide. She was recently named one of The Wall Street Journal’s top agents and is president of The Valerie Fitzgerald Group in Beverly Hills, CA. Author of Heart and Sold: How to Survive and Build a Recession-Proof Business (Simon and Schuster), and is a regular contributor to real estate trade publications. For more information, visit: http://valeriefitzgerald.com.

To interview Valerie Fitzgerald or request high resolution images, please call Jeanna Zelin at 480.298.0928 or jeanna@lightboxpr.com or Lisa Loeffler at 602.319.5982 or lisa@lightboxpr.com.

Sales of new homes surged 14.8% in April from March, the Commerce Department reported Wednesday, as an expiring federal tax credit for buyers helped fuel activity. Without the popular incentive, many analysts are expecting sales to slump in months to come.

“Clearly, government handouts have had their desired effect: They juiced home sales and helped builders clear out even more inventory,” said Michael D. Larson, an interest rate and housing analyst with Weiss Research. “We’re also going to see yet another hangover in the coming couple of months due to the tax credit’s expiration, with sales rates dropping off.”

New single-family houses sold at a seasonally adjusted annual rate of 504,000 units in April, the Commerce Department said. That was 47.8% above the April 2009 pace.

New home sales in April were up 21.7% in the West from March. Sales rose 10.8% in the South and 31.6% in the Midwest but were flat in the Northeast.

Patrick Newport, U.S. economist with IHS Global Insight, said he was optimistic that factors other than the federal tax credit of up to $8,000 for first-time buyers and $6,500 for current homeowners that expired April 30 were at work.

He noted that a quarter of the new homes sold last month hadn’t been started and just under a third were being built when sold. That means many may not be completed by June 30, when deals must close to qualify for the federal incentive. That was a “sign that many new homes are being bought by people who want to live in new homes, not by individuals looking to take advantage of a tax credit,” he said.

Because the Commerce Department reports sales of new homes when contracts are signed — unlike sales of previously owned homes, which are reported when deals close — last month probably was the peak of any boost from the credits.

The median price of new houses sold in April was $198,400, and the inventory of new homes for sale at the end of April was 211,000, representing a five-month supply.

From LA TIMES

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 the book published by Simon and Schuster Heart and Sold: How to Survive and Build a Recession-Proof Business.

Buy or Sell You Luxury Homes in Westside Los Angeles at Valerie Fitzgerald Real Estate Listings