947 N. Brighton, Burbank - new listing

Here's the exterior of my new listing at 947 N. Brighton in Burbank.  It's a 3 bedroom, 2 bath, 1648 square foot home Magnolia Park home that also features an unfinished guest house.  Not to puff, but I think this is a steal at $575,000.  The first open house will be March 7, and more pics and info can be found on my website at http://www.judygraff.com/.  Please call or email me for more info.

Short sale listing in Toluca Lake

 

This is the exterior of my new listing at 10862 Bloomfield, #103, Toluca Lake 91602. This 2006-built condo has all the bells and whistles, including 2 beds, 2 baths (since when is that a bell or a whistle? nevermind), 1300 square feet, hardwood floors, patio Italian marble in the kitchen and baths, high ceilings, security building, and a fabulous location in Toluca Lake.  And it's $383,000.  Here's the bad news: it's a short sale, but I'm committed to getting this turned around as soon as possible.  Call me with questions or for showings.

Not good news for buyers or sellers

 

Here's a good article from the business section of today's L.A. Times.  In essence, it says that the government is going to stop buying mortgage bonds in March.  That will likely have the effect of pushing interest rates higher.  And we know what happens when interest rates go higher -- less people qualify for mortgages and homes sit on the market longer and sell for less.  Here are a couple of quotes:

"The Fed plans next month to end a $1.25-trillion mortgage-bond-purchase program that has helped keep mortgage interest rates near a record-low 5%...That exit is expected to push up rates, which could weigh on buyers at a time of high unemployment and anemic consumer spending." And "If those rates jump up to 5.5% or 6%, then [buyers] can't qualify for what they thought they could qualify for, and they're not going to be able to buy as much house as they thought they could."

If you're a seller, now may be the time to list your home. 

What is escrow?

The escrow procedure happens during house sales in California and can seem complex and confusing.  Cal state even supplies an "Escrow Process Complexity" disclosure along with the other 999 disclosures they give (through Realtors) to new buyers.  Margie Dansby, one of my favorite escrow officers, has furnished me with an excellent description/timeline of how a typical escrow process works.  You can find it at Escrow? on my site at JudyGraff.com.

LAUSD and Charter Schools, from friend Sheila

What's a charter school?  What's a magnet?  How do they compare with LAUSD schools in the San Fernando Valley?  I get these questions all the time.  I've asked friend Sheila, mother of a 7 year old in a Northridge Charter, for websites and info.  Here's her (as always hilarious) response:

The charter thing...hmmm. It's like this: if you want to go to a charter school, you go to the California Charter Schools Association and scroll through the thousands of them in CA. That's about the only way to find out about all of them, since LAUSD would rather they didn't exist at all. If you want to know the process, you usually have to contact each school you might be interested in. They are almost all, as far as I know, done by lottery, and the due dates vary but are usually in Feb. or March. Since they are technically 'public', that is, they get funds from the local school district, they cannot act like a private school and pick and choose who they want (wink). Yeah, right. Where can you find out more info on charter schools? That's about the only place I know, that Ca Charter Schools website. LAUSD.net would have very little info, I think. Magnet schools are popular with the school districts because they still maintain control over budgets and curriculum. What makes them a "magnet" is that locally, they were performing so crappy or the parents were unhappy with the school's direction, so they petitioned the school district to make the school some have some kind of bullshit designation (i.e., technology/math, science, high ability). I say bullshit because at the elementary level, there is really no difference in instruction, funding, or facilities, except for the teachers they might attract to the school. That's about it.

Thanks, S!  I'm learning a lot from you.