Wednesday, December 12, 2012

News of the week: Tacos, government regulation, 737 N. Catalina, and mortgage lending

Say it ain't so: the much-beloved Henry's Tacos in Studio City/Tujunga Village may have to close! Nooooo! Apparently, the landlord wants to do something else with the property.  There will be a taco eat-in on Sunday to protest and we'll be there.

Seen 737 N. Catalina in Burbank yet? The adorable, unspoiled 2+1 for $425,000? It's not my listing, but I'm taking bets on how many offers it will receive.  I showed it last night, and there were so many other showings around the same time that it was like an open house.

Government regulation or lack thereof: the Department of Real Estate in California is going away next year.  Instead, regulatory matters and law enforcement will be handled by a new branch of the California Consumer Affairs division.  I don't know how this will work, but the DRE was understaffed, so perhaps this will be an improvement.

Learned today: Forget getting credits through escrow for repairs on the house you're buying.  If the house needs repairs, and you're getting a loan, your lender may require the repairs to be made before close of escrow by the seller.  Yup, they're tightening up on that, too.

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