3% down payment mortgages are back. Does this sound familiar?

Wells Fargo is now offering first-time buyers mortgage loans with only a 3% down payment.  Click here for today's L.A. Times story.  That's even cheaper than FHA which has 3.5% down payment loans.  Funny thing, tho -- once these loans are originated, they will be sold to Fannie Mae, the government-insured entity.  Other banks are developing similar loans.

The loans are for first-time and low income buyers, and will have other restrictions as well that will need to meet Fannie Mae underwriting standards.

Does any of this sound familiar? From, like, 2006 and 2007?

Coming attractions - real estate, not films

Here are a few listings that are coming up in the next few weeks.  Yes, you can see them now -- just call me.  First, in Burbank's Magnolia Park, 1112 N. Cordova will soon be listed.  We all know this is the hottest neighborhood in Burbank.  Not only are the public schools here particularly excellent, but this area is walking distance from Porto's.  No pics yet, but Cordova is a 2 bed + den, 2.5 bath home with lots of extra bonus square footage next to the garage.  This is classic post-war Burbank with built-in book shelves, a separate dining room, and a huge galley kitchen.  The master bedroom is sizeable, too, as is the backyard.  It needs some elbow grease to make it really shine -- or it can easily be remodeled to today's standards.  It will be on the market in a couple of weeks for $719,000.

Next up is 12412 Rye in Studio City.  This home is a 2+1+big den on a big lot.  The landscaping is super-attractive.  The house has been well-maintained and is perfect for creative people who like to do their own expanding/remodeling.  It will be on the market in mid-June for $890,000.  Here are some pics.

A great Studio City townhouse is also coming in June.  This Coldwater Canyon 2+2.5 is in a 4-unit building with low, low HOAs and is walking distance to everything in the area.  It also features a huge rooftop deck with view -- perfect for summer evening chilling.  Two fireplaces, two balconies, an electric car charger and much more complete the picture.  We're still spiffing up, but currently plan to list it at $530,000.

Interested in these? Please call for a chance to see any of these before they hit the market.

The Jacaranda trees are in bloom again -- it must be spring in So. Cal.

Check it out -- Jacarandas are blooming here in the Los Angeles area, which means it must be Spring (as we know it). I think this is my favorite local foliage.  Blooming soon: agapanthus (favorite deer food), wild garlic, hydrangeas... . These really dress up a yard, so if you're planning on selling your home here in the SFV this summer, you may want to plant some of these.