My First Blog of 2013 – New Year’s Resolutions and 5 Reasons Why I Loved 2012…

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While this is officially my first blog of 2013, it’s also serving a dual-purpose as my last blog of 2012, since I was much busier than anticipated in the traditionally “slower” winter season, with other “work stuff”, and trying my best to assist all of the clients that I have been fortunate enough to have. Since this blog is a few weeks behind schedule, I’m going to start with my thoughts on 2013, and my New Year’s Resolutions.

Since I don’t have enough time to get into all of my New Year’s resolutions, I’ll just go over the two that I feel will be best for my reader’s, and I’m mentioning these two, specifically, because I read that telling other’s your New Year’s resolutions will increase the chances that you actually keep them.

Resolution #1 - Blog More Often - Hopefully, once a week, but if not, at least once every other week.  Sounds simple enough, but I’ve recently learned the hard way, that it’s wayyy easier said, than done. I have a tremendous amount of respect for all bloggers, but especially, full-time working professionals, and specifically real estate agents, who are able to find the balance between their personal lives, other work duties, and blogging with original and quality content. I’ve said it once, and I’ll probably say it 100 more times, but, writing is not the hardest part of blogging for me, the hardest part is finding the appropriate time during the day/week, keeping my blogs and site formatted, organized, and looking the way I want it too, and being able to pick and choose exactly what to write about, especially since there are so many various topics that I’m constantly reading about every day. I probably spend at least 2 hours every day reading, which is in addition to the other 10 plus hours I spend on other responsibilities at work. And whenever I do find myself starting a blog, I almost always seem to get a call or email, and trying to figure out where I left off can be more of a headache than just starting over completely. But, this is a new year, and I can’t/won’t allow myself to use the same excuse of not being prepared for the time commitment that blogging entails, and I have the utmost confidence, that I will keep this resolution to blog much more often compared to 2012, so please be sure to visit again, and hopefully there will be a new blog for you to read every time you come back!

Resolution #2 – To continually grow in both my personal and professional lives, by learning from every experience (both positive and negative). Yes, I know, uber-cheesy, generic, and vague, but, I’ve been using this for maybe two years now, and so far, it’s been working pretty well. I obviously still have several other more specific goals that I hope to “stick to”, but, in the instance that I don’t achieve every single one of them for whatever reason, I figure that as long as I put an emphasis on improving myself in both my professional and personal lives, I should be doing just fine for myself in a few years because I’m already fortunate enough to be  very rich with love from friends and family in personal life, and as long as I continue to learn and work hard every day at work, there are really no limits to what I can achieve with my partners and for my clients.

Now that I’ve got those two lame resolutions out of the way, here’s my short list of things that I’m most thankful for from 2012.

 1. 10,000 Official Views: 

10,000 Views!!!

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380 North Daisy Ave Pasadena – SOLD

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While the end of the peak summer season in real estate typically results in a noticeable decrease in activity for home sales and activity, the Geoffrey and Lee Team and Dossier Capital, LLC have recently listed a true gem in the heart of the historic Daisy Villa area of the best city in all of Los Angeles, Pasadena, with our latest project 380 North Daisy Ave. Truly, in a class all by itself, this home boasts complete renovations from top-to-bottom, and an entire addition of a true master bedroom and bath with french doors that open to a stunning wrap-around backyard and patio, which has been enclosed by the most aesthetically pleasing and functional slat fence, which will make almost any other fence seem average, at best. With high quality finishes, great space for entertaining, and just the right blend of quality contemporary, modern, design and finishes, I had no qualms about declaring this home the best listing on the market in front of all of my respected real estate peers during a broker caravan last week. While I sincerely believed my statement to be 100% accurate, I was more than pleasantly surprised to find out that no brokers who came to preview the home seemed to agree with my statement.

Master bed with French Doors to Backyard

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Update: for 5146 Almaden Dr in Highland Park – SOLD

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It’s been about 2.5 weeks since the Geoffrey & Lee Real Estate and Dossier Capital were sure to end the unexpected hectic and busy summer season on the highest note possible with their listing on 5146 Almaden Dr. Located in the highly coveted hip NoYo section of Highland Park, which has been all the rage for investors/flippers, and a size-able group of young first time home-buyers in 2012. It’s central location and proximity to the Metro, DTLA, Pasadena, and freeway access to everywhere in the greater LA metro region, combined with the flood of activity and redevelopment on virtually every block, and even in the form of government funded parklets. Highland Park, or HP, can offer buyers many of he items on their wishlist in terms of getting a fully remodeled, turn-key, character home from the early 1900′s, along with the piece of mind that they will almost surely see equity build in the near future, as the neighborhood will surely continue on it’s current path of redevelopment and gentrification in all areas; residential, commercial, and retail, similar to already gentrified  areas, like Los Feliz, Silver Lake, and certain areas of Echo Park, which have already become too pricey for most home-buyers to feel comfortable with.

Back in June, the G&L team held an amazing open house for Dossier’s first project in the Northeast LA area, which was, 3136 Carlyle Pl, in Glassell Park. Based off of the immediate success and large amount of positive feedback from agents and buyers on the property, it was a no-brainer for both companies to continue searching for additonal projects in the area to meet the high demand.

However, a severe shortage in inventory throughout the nation, and especially in Highland Park, caused many investors, sellers, and buyers to get carried away with listing/asking and offering prices reminiscent of times during the pre-housing crash era. Recognizing the false pretenses contributing to this trend of significant and sudden rise in prices of not only local markets, but across the nation, set off red flags for the G&L real estate team, and instead of going with the overarching trend to to buy, buy, buy, regardless of price, both companies decided to focus more on finding a few solid deals that could only result in positive results for both the sellers, Dossier Capital, LLC, and also for the buyers who were able to purchase their finished product, which is a concept and strategy that few other real estate development companies seem to incorporate in their business model.

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1486 Delany St in Pomona – SOLD

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For anyone looking to take advantage of the current real estate market conditions, without having to sacrifice the quality of living inside their new home, and not having to stress about a hefty mortgage payment every month; this may be your best bet. The G&L Real Estate team is listing the first Dossier Capital project in Pomona, and it is sure to be the most sought after house in the neighborhood at a listing price below $250,000, this listing is sure to create a Bidding Battle Royale among buyers in the  area, who have been searching for their dream home, at a reasonable price.

Sure, there have been other homes in this area that have been remodeled, but as always, we’ve done our research, and none are close in comparison to the overall quality, style, and functionality of the home at this price point. When buyers move-in to their new home, most hate the idea of having to remodel and deal with the stress, money, and time of living in a construction zone, which is why, Dossier Capital makes every effort to finish their projects in a manner that will exceed the standards of work by their competitors, who are more interested in making a fast and easy return on their “flips”, as opposed to making sure those who actually purchase their homes are beyond happy with their new homes. This sky-high standard for quality work, is what makes every Dossier home, an easy sale for myself and the G&L team. Every buyer and agent who walks in can’t help but talk about how much they love the design, feel, and attention to detail that is evident, when they see how these homes have been completely transformed from old, ugly, and too small to stylish, spacious, bright, and most importantly, a warm comfortable feeling that is the most important factor for most buyers, that have seen up to 50 and sometimes over 100 homes in their search.

With Pomona being located right by the 10, 210, and 57 freeways, it is sure to be an area that will see faster, and more significant gains in terms of equity in the next 3 – 5 years. In a recent study by Zillow, buying a home in Pomona rated among the best in terms of number of years that it would take before buying was cheaper than renting, at only 2.3 years, which was more than an entire year less than other neighborhoods in LA and OC, that were about 3.5 – 4 years before Zillow’s “break-even-horizon” was reached.

http://1486delany.com/

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9 Cool Things to-do in LA before the Summer of 2012 is officially OVER…

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Sunset at Santa Monica Pier

First off, I just want to apologize to the few followers that I do have, since I haven’t been able to post anything in the past month. In my defense, I had a mild case of walking pneumonia and I was out of commission for a few weeks (not to mention  I’ve been Manorexic my entire life), and helping my clients search for homes has taken up almost all of my spare time since.  As I realized there’s only a few weeks left of summer, I felt it was only appropriate to write a blog about some of the fun things we can all do before another summer in LA is officially over.

I’ve been able to do most of the listed activities this summer, a few this past weekend (another reason I haven’t been able to post any  new blogs in a while), and the rest are still on my to-do list, which is going to be a challenge, considering I have open houses scheduled for just about every week here on out, with the exception of Labor Day Weekend. Since I don’t have plans for Labor Day Weekend yet, I guess you can  assume I’ll be doing one, or more, activities on this list…

Some of the items mentioned may seem like common knowledge for you, while others may be slightly out of your comfort zone, but, I was sure to suggest different options in each activity, so regardless of your age, relationship status, financial situation, and if you have kids, anyone can find at least one activity that should be fun, interesting, and easy enough to make you get out and enjoy this beautiful summer weather in LA (especially since the heat wave has finally come to a merciful end). So, whether you’ve had the best or worst summer of your life, just remember, it’s not over. So, let’s make the most of what we have left. Here’s my list of things that should have at least a few things that everyone can enjoy, no matter who you are and how big or small your budget is right now…

1. Pool Party

Pool parties are synonymous with the LA lifestyle, but many of us forget how fun and diverse pool parties can be. Sure, you could technically have pool parties in most winters due to our nearly perfect year round weather, and lack of 4 distinguishable seasons, but, let’s keep it real – BBq’s and pool parties are always better during the summer.

Unlike other major cities throughout the world, pools are easily accessible just about everywhere in LA, so if you don’t have one yourself, just make some calls, send some tweet, texts, or FB blasts, and I’m sure you’ll have no problem finding a good spot and a group of friends that are more than eager to join you.

For you those of you looking to end this summer with a bang, then you should definitely try visiting one of the weekly pool parties at venues like the Mondrian Hotel, which is held every Sunday starting at noon. The Mondrian even hosts a weekly pool party at night ever Wednesday for those of you who are too cool to party on the weekends…

Photo taken by Evan D. Foursquare

Click here for a list of the other major pool parties going on every Sunday at hotels and venues throughout LA.

#2 Hit the Beach

Regardless of where you live in LA, there is a beach not too far away, if not several, great beaches within a 30 – 90 minute drive, each offering something different and unique. So, if you always seem to frequent the same beach, try a different one for a change. I just went to Hermosa Beach for the first time, and not only did I love the beach itself, but the nightlife and bar scene was by far the best among all of the other beaches I’ve been to.

There are countless reasons to go to the beach, and have fun. You can stay cool, get a tan, people watch, and try new fun ways of burning some calories and getting some exercise. Whether you walk, run, bike, or get wet in the ocean, the beach offers unbeatable options in terms of better scenery than you’re going to get at home, or at your local gym.

So stop making excuses like “I just hate getting sand in my underwear, the water is too cold, the beach is too crowded, and it’s soo dirty” and just take a trip to the beach before it’s summer is over, since most people don’t get in the water anyways, and you don’t even have to get dirty in the sand to enjoy all of the different activities and atmosphere that the beach has to offer. Continue reading →

Artwalk at DTLA – The Best Place in LA for Date Night

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For those of you that have been hiding under a rock for the past few years, and have not been to Artwalk in DTLA, located in the Spring and Main streets, please do yourself a favor and check it out already! Artwalk has evolved with each year, and has everything from live music, all types of food, and all types of establishments to get your drink on.

But if you still aren’t interested in attending for some reason, I think that Artwalk is the one place that the just about everyone should attend with a date. Whether you’re trying to impress that new girl/guy in your life, rekindle the spark in your stale relationship, or just single and ready to mingle, Artwalk really does have something for everyone.

Here’s a basic outline and some examples and suggestions from personal experience of how Artwalk could/should be experienced on any given night, but specifically if you’re on a date…  Try to arrive earlier (5:30 – 6:30) to avoid the hassle and crowds that are inevitable, starting around 7:30 – 8 PM. Once you enter the realm of what is ‘Artwalk’ be sure to take your time and be prepared for several moments of being in large crowded spaces.

 

While being stuck in human traffic in either the streets, bars, or buildings displaying art is quite common, think of it as an opportunity to get ‘closer’ and more intimate with your date (assuming that you still want too at this point and that you haven’t already done so). Walk through the different buildings together and check out all of the various artists and pieces and talk about which one’s you like the most. Whether you’re a huge fan of art, or a novice like myself, you’ll still be impressed by all of the different and amazing pieces that are displayed throughout the different galleries, as well as from street vendors.

The Famous 'Flying Pig' Cart

You should eventually work up a decent appetite from all of the walking that most of us rarely do in LA. Thankfully, you will have no shortage of eateries to choose from. Restaurants, cafes, and specifically food trucks, have become apart of the culture and experience at Artwalk, and many visitors go specifically to eat their favorite dishes and try different original, creative, and delicious options for even the pickiest of eaters, like myself.

After grabbing a bite to eat, the night should still be young, and assuming your date is still going well, try stopping by one of the many bars in the vicinity. Whether you’re a hipster, classic rock, top 40, or hip hop head, there is a bar, pub, lounge, or club to suit your musical taste. Just ask around and check out the scene, and if you don’t like it, move on to the next one.

Thursday’s at Seven Bar on 555 w. 7th street

My new favorite spot on Thursdays is at Seven Bar for “Do What Cha’Like“, an homage to classic hip hop and other eclectic sounds, headlined by a trio of well respected dj’s in the industry – Anthony Valadez from KCRW, Dj Roarkyd, and DJ Ben G  Be sure to stop by and check it out, especially if you’re on a date, because the crowd, vibe, and music are perfect for helping escalate things physically, while on the dance floor.

Whether you’re on your first-date, friend-date, or group date, Artwalk is an event that you must visit asap, especially if you consider yourself a true Angeleno. So, whether you’re on your first date, anniversary, friend-date, or group date, Artwalk is an event that you must visit, especially if you consider yourself a true Angeleno. It’s a completely unique experience, that exemplifies how much DTLA has changed in the past several years, evolving into more of a community and neighborhood with all of the specialty small businesses that cater-t0, and attract art lovers, foodies, and just about every other category of individual throughout LA.

Should You Continue to Rent or Buy?

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Is it the right time for you to buy a home, or should you keep renting?  Many people struggle with this question each and every day.  It is a hard one but there are ways to determine if now is the right time to buy.   According to the chart above, based off today’s market of historically low rates in conjunction with affordable pricing (if you think home prices are still too high, please take a moment and check what home prices were before the housing crash) the decision to buy should be an easy one. But if the housing crash taught us anything, it was to be more cautious when making purchases, and especially-so when buying real estate. While this was not entirely a bad lesson for the most part, the negative consequence is the increased levels of buyer skepticism throughout the country by the general public in regards to investing in real estate. While it is very fair to doubt the stability of many real estate markets in different parts of the country, the LA market, in general, has been, and will continue to be a safe long-term investment for most buyers in the next several years. But, since everyone’s situation is different, there are several factors that you must address in deciding whether you should continue to Rent or Buy? Here are some facts, tips, and information for you to consider:

#1 – Mortgage Rates:  What many people fail to realize is how significantly mortgage rates can affect the actual costs of owning a home. Due to the recession, rates have continued to be at historic lows. But, if you think that rates will continue dropping, think again. While I don’t expect rates to jump up too far in the near future because of the current state of our economy, you will be kicking yourself for not securing a lower rate and payment if you wait until everyone else has bought a house before you decide it’s “the right time” again. The first step is getting pre-qualified with a mortgage lender, but since a pre-qual letter is as official as pre-qualified letters from banks in the mail, it is better to get a pre-approval letter from a lender instead, which will also help if/when you submit an offer on a home you decide you want.

#2 Rents Keep Rising:  For almost anyone who can qualify to buy a home, the cost of renting is actually higher than buying when you consider the fact that rents continue to rise by an average of 8% in 2012, and 9.5% in 2013, according to Deborah Crowe of LA Business Journal. And regardless of how much you don’t like or love your current rental home or apartment, the fact of the matter is, that money is essentially going to waste every month since you are not paying down principal on a mortgage, or even getting a tax write-off at the end of the year!

#3 – Job Stability  Buying a home is a long-term investment and endeavor,  and you should estimate that you will be staying in the same geographic location for a period of 7 – 10 years before deciding if now is the right time for you to buy a home. This issue seems to be the most difficult for most of the people that I speak with, since no one can predict the future in regards to their jobs and/or other potential opportunities that can obviously change or alter their decision. But, there are always options and solutions when relocation is needed. Ideally, you will have the option of comparing two positive choices – Renting or Selling – and hopefully, both will allow for you to make money, and at least not be negative on your investment.

Let’s look at an almost worst case scenario where you buy a home today, and are forced to relocate in 2 – 3 years for another job, and the market was actually worse than when you bought your home.  Well, the first option would be to try and rent out your home, so that your mortgage payment could hopefully be covered, and possibly even positive with some cash flow. If this is not a good option and you have to sell, just think about the fact that you would have had to spend x amount of money on rent (don’t forget to include 9% inflation with every year) for the same time frame anyways, and depending on the amount of money you put down for your mortgage, and tax write-off’s, you should still be better fairly the same, or even better off than if you would have kept renting. At the end of the day, we can never be 100% sure about anything, so just try not to search for a significantly bigger home than you will need, and always keep a 6 month reserve fund for unexpected emergencies that would keep you out of work for an extended period of time.

#4  – Think Ahead   Since you should be in your home for approximately seven to ten years, you will need to think about what your needs will be in the future.  How much space will you need?  Give yourself enough room to grow, but don’t go overboard unless you can absolutely afford too.  Can you afford to buy a home that will suit your needs now and in the foreseeable future? How much money will you be paying in rent in a few years if you don’t buy?

Buying a new home is a huge decision that will require you to really think about your long term financial and lifestyle future.  When you get to the place in your life where you can realistically project your financial goals and personal needs seven to ten years, then it may likely be the perfect time for you to buy your dream home.

Also be sure not to make the same mistake that most home-owners did to get themselves under-water, which was using their equity and homes as ATM machines. Whenever you pull out cash from the equity on your home, you are essentially negating all of the time and profit that you have made, so don’t do it unless it is absolutely necessary.

Many of you reading this, may have tried desperately to buy a home within the past 1 -20 months, with no success. As frustrating as I know this may be, it’s equally as important to have a realtor that is prepared to assist you in different ways. For my personal suggestions regarding your specific situation, please feel free to leave a comment, or send an email for a prompt and more personalized response.

Yeh or Nay? Calif. High-Speed Rail Plan approved, but several obstacles ahead…

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A few weeks ago, I posted an article on the projected plans and potential for the building of a high-speed (approximately 220 mph) train that could take commuters from LA to San Francisco in 2.5 hours, with proposed stops in everywhere from Riverside to San Diego. This past Friday, July 6, was a huge milestone in the future of the CSHR (California High-Speed Rail), as the state legislature narrowly approved $4.5 billion in state funds for rail improvements, which also allowed for an additional $3.2 billion in federal bond money, which could have been rescinded if the state legislature voted against the project.  Although this was a critical step for CSHR supporters, myself being one of them, there are still several major obstacles that can stall and prevent this project from ever coming to fruition.

The main issues by critics of the CSHR are:

1. Funding- While the building of the railroads will ultimately lead to more jobs for workers on the project, and will undoubtedly help inter-state commerce, tourism, and the environment upon it’s estimated completion date in 2029, what troubles most is that we only have approximately $7 billion of state and federal funds that have been approved for the project, which leaves another $55 billion that needs to be allocated from state, federal, and private investors. Fortunately for Gov. Brown, who is this projects greatest supporter, the state of California is a democratic majority state, and if Obama is able to maintain win re-election (which I pray, hope, and think will happen), Gov Brown could likely count on more federal aid for assistance. However, at this point and time, there are no guarantees of where this additional money will come from, and rightfully so, Republicans (some democrats), naysayers, and critics of this project are using this issue to stall and prevent this project from ever getting started, let alone, completed.

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The Best Places in LA to Watch the July 4th Fireworks and Cities for ‘Safe and Sane’

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Lighting fireworks on the 4th of July is one of the our nation’s oldest traditions–first taking place in 1777, and after a few summers in other cities, i.e. NYC, I am so appreciative to be spending this summer in the most beautiful, Southern California.

Here in LA, we have it all. Small to gigantic fireworks displays–from LA Memorial Coliseum’s Exposition Park to Norwalk, but many traditional local events have been discontinued, unfortunately, due to budgetary issues. Be that as it may, here’s a list of all the best Places in LA to Watch the July 4th Fireworks–another great bonus, is that many of the shows are free, so if you’re lucky–you just might find a free parking space also to enjoy LA’s July 4th Fireworks with your friends, family or date! Continue reading →

“Ted” and other Fun Things To Do This Pre-Independence Day Weekend

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Be prepared for explicit scenes involving sex, drugs, alcohol and other offensive topics and humor

“Ted” Due to the excitement I received from the ‘x-rated’ trailers, and the fact that my name is also Ted, I, of course, have been anxiously waiting to see this film, so I had to catch the midnight showing of this movie on Thursday. Continue reading →