Property tax repeal was passed by the House of Representatives yesterday. But don't open the bubbly yet.

The House of Representatives repealed the measure that limited property tax deductions to $10,000 or less.  While many people view this as a "millionaires' tax," people here in California routinely pay that amount for normal, middle-class homes.  The Senate will not vote to pass the repeal, however.

Here's the article from New York Times: https://www.nytimes.com/2019/12/19/business/salt-tax-repeal.html

Please welcome Cameron Stephens to Judy Graff Properties

I'm pleased to announce that Cameron Stephens has joined Judy Graff Properties!  Here is his bio:

Graduating from Wake Forest University with degrees in Business, Psychology, and Entrepreneurship, as well as over seven years in animation and visual effects production management including the Oscar Award winning film Zootopia, Cameron came to Los Angeles in search of palm trees and movies and stayed for his long time passion for real estate.

Cameron represents property across a variety of the diverse greater Los Angeles communities from cozy condominiums and first time single family homes, all the way to gorgeous hilltop masterpieces, celebrated estates, and historic multifamily properties.

As a local resident of Los Angeles, Cameron has a passion for contributing to this incredibly unique and thriving city through volunteer programs, public speaking and education, and content creation with the Ruby Cannon Foundation.

"Real estate is difficult and emotional. But I always show up with a big smile, communicate clearly, and navigate through any problems we might encounter. I pride myself on 'showing up', because this has and always will be a business of people working with people...in person."

One of the best ways to keep in touch with Cameron is through his social presence across platforms: @CameronStephensRE as well as through his podcast L.A. Conversations.

Does it seem like it's a desert for property listings lately? That's because it is, with one exception.

There you are, all ready to hit some open houses in Los Angeles over the weekend.  But you sadly realize that there are no homes for sale to see.  Hey, it's the holidays! Listings slow way down at this time of year!

However, there is a certain type of home that still pops up around this time -- flips.  Property flippers don't care about the time of year that their listings show up; they just want to make their money back on their extensive house remodels asap.  And most of the flipped homes are pretty nice.  So, if your goal is to purchase something that's in move-in condition, a flipped home may be for you.  Caveat: these houses are usually NOT sold at a discount; the opposite is often true.  And with the L.A. area's history of multiple offers, the house you like may actually go over the purchase price.  Even if not, you may have to wait for January for any price reductions.

Old Town Realtor Rap (Old Town Road Parody) Lil Nas X Ft. Billy Ray Cyru...

Mark Freeman has just joined Judy Graff Properties

We are proud to announce that Mark Freeman has just joined Judy Graff Properties!  Mark is a long-time veteran of the Los Angeles-area real estate scene and we last did a deal together in 2005.  Mark and his partner now live in the Palm Springs area which will provide us an extra presence for those who would like to buy and sell real estate in the desert.  Here's Mark's bio:

Knowledge, Personal Attention & Customer Service - The Mark of Excellence in Real Estate.

Mark Freeman has successfully represented buyers and sellers in the sale and purchase of residential estates, homes, townhomes and condominium properties throughout the Los Angeles metro areas including the San Fernando and Conejo Valleys. And now, Mark’s representation extends to the breathtaking areas of the Coachella Valley.

Mark’s background includes careers in marketing, design, retail and management. A perfect foundation   necessary to effectively generate positive results for his clients.

Mark’s trusted and knowledgeable representation focuses on providing each client with an understanding of current real estate trends, effective marketing and staying connected with his clients during the nuanced real estate contract and escrow process.

Whether you are buying or selling a full time or seasonal residence, Mark’s keen ability to identify the needs of his clients together with his strong negotiations skills and attention to detail lead to successful closed transactions for both buyers and sellers.

Strong client commitment, ethics and knowledge of the real estate market are the keys to Mark’s success. His love of real estate, interior design and architecture, positive outlook and genuine smile offer a capable and caring business environment to each client.

Mark and his partner reside full time in the desert. Mark is excited to provide his services exclusively to buyers and sellers in Palm Springs, Rancho Mirage, Palm Desert and surrounding desert communities.

“The desert is a glorious place to work and play. And an even better place to live! I look forward to working with you...”

Mark can be reached @ Markfreemanhomes@gmail.com or (818) 388-3905.

Buying. Selling. Leasing. The Mark of Excellence in Real Estate.

609 E. Palm in Burbank just sold

I helped my buyer, Ed, find this fabulous condo in Burbank and it closed just yesterday.  Ed was recently widowed, and moved all the way from Maryland to live closer to his daughter and her family. This unit is truly special as it not only has 2 beds and 2 baths, but the kitchen and baths have been redone, there's a loft office/bonus space, and best of all, a big private roof-top deck.  Ed now has a place to entertain his grandson and he is looking forward to putting down roots in Burbank.  Congrats, Ed!

You may be paying too much in closing costs for your real estate.

Recently, a client of mine closed a purchase money loan with a big lender, who shall remain nameless but whose initials are Quicken. (oops) Although the client paid the going rate for interest that any other lender would charge, the fees the lender tacked on were way high -- 2% origination fee, processing, underwriting, etc. And then both the title and escrow company loaded on what we call garbage fees. These, too, were higher than what's competitive in the market. If you are buying or selling a home, please ask your Realtor to review the lender estimates and the final estimates before you automatically pay them -- you could save a $1000 or more out-of-pocket closing costs.

Once again...here we grow at Judy Graff Properties

This handsome guy is Gabriel Browne, and he is the newest associate agent at Judy Graff Properties.  Gabriel comes to us from KW and Owners.com, and has sold all over this state!  His background is as a paralegal for law firms, which has prepared him well for the challenging contractual aspect of real estate.  Gabriel can be reached at 323-274-9663 or soldbygabrielbrowne@gmail.com.

Why condos aren't easy

It seems that it should be easy for a Realtor to sell a condo or townhouse, no? After all, they cost less than houses (in some areas), the inspections are easier, etc. etc.  But no.

There are two reasons for this: First, most lenders need home owners association financial documents and the HOA management companies can be all over the map with competence.  Some are super-professional and get docs out right away.  Others...just aren't as heads up.  You'll have to beg for documents to be produced, pay rush fees in advance, etc.

The second reason is the lenders themselves, especially the big banks like BofA, Chase, Wells, etc.  Yes, I know their interest rates are better than mortgage brokers' rates now, but they have very tight underwriting standards and restrictions.  And when they do get what they need, it usually sits on somebody's desk for a few days before it gets processed.

So if you're buying a condo or townhome, make sure you're on top of your lender and the HOA management company.  And allow extra time for the escrow to close.

4080 Tujunga #107 in Studio City is now on the market!

Love Tujunga Village and Woodbridge Park in Studio City? Always wished you could live within an easy walk of both? In a fabulous townhouse with 2 beds and 2.5 baths? Here ya go -- 4080 Tujunga Ave. #107 is now on the market for $599,999. This refreshed townhome features 1311 sq. ft., new paint, new carpet, bright kitchen with new heating appliances, darling patio, fireplace, two parking spaces and more.  Each bedroom has its own bath and plenty of closet space.  The HOA is proactive, features earthquake insurance, allows pets and dues are $410/mo.  The security building also has a nice green back area, a spa, bbq and a gym.  This area of Studio City is one of the most highly desired areas in the city and there are lots of shops and restaurants -- including Aroma Cafe! -- close by  See 4080Tujunga107.com for more pictures (some are virtually staged) and call me for showings.

Great news from FHA re condo rules

FHA announced that it is relaxing some of its condo rules to make condo loans easier to get.  This is huge and ought to improve affordability as well.  As it exists, condo complexes need to be approved by FHA in order for lenders to make FHA loans on them.  FHA loans differ from conventional loans in that the down payment and qualifying credit scores can be lower.  That makes these loans perfect for first-time buyers.  Here's the catch -- the approvals include lots of Byzantine rules and restrictions, and home owners associations have to pay to be FHA-approved.  This effectively cuts out many would-be buyers, who need to rely on FHA mortgages to get a mortgage at all.

Specifically, the new guidance extends certifications from two years to three, allows for single-unit mortgage approvals, provides more flexibility with owner/occupancy ratios, and increases the allowable number of FHA loans in a single project. The rule will go into effect in mid-October – 60 days from publication. HUD believes the changes will extend critical benefits to aspiring homeowners and confirm the agency is properly serving the public.

I will miss you, Starr and Alex

Remember Egbert? Whose house I had for sale? The humans above are his parents, Starr and Alex.  I met Starr and Alex six years ago when I helped them find their first home in Burbank.  We've stayed in touch and have had a lot of laughs over the years.  And I've been honored to sell their home at 2112 Hilton, pictured in another post below.  We listed the house in early July, had an open house which 116 people attended, and accepted an offer from another great couple later that week.  The escrow only took three weeks.  I will miss Starr and Alex -- their good humor, their sensibilities, and the fun we had when we got together.  Good luck, guys, and I hope to visit you in WA some day soon.

Judy Graff Properties welcomes Debra Ganshirt as our newest Realtor!

I'm pleased to announce that Realtor Debra Ganshirt has joined Judy Graff Properties! Here's a little bit about her:

Debra Ganshirt is a proud to be a part of Judy Graff Properties. She has lived in Los Angeles,
California for over 20 years. She started her career in real estate at Westside Rentals where she
eventually became branch manager.  She and her team were responsible for working with
property managers and homeowners to help clients find their perfect home. 

In 2006, Debra moved to the Santa Clarita Valley with her husband to raise a family. Being an
active mom, she has volunteered for many community organizations. Santa Clarita has been her
home for 15 years and she has gotten to know the neighborhoods inside and out. She knows
choosing a place to live is an important decision and she takes great pride in helping her clients
select the best home for their family's needs.

Debra's license number is Cal DRE #02025236 and she can be reached at Debraganshirt.realtor@gmail.com or 213-925-3322.

Open Sunday, 1 to 4 pm - 10862 Bloomfield, Toluca Lake

Looking for a luxury unit in a beautiful Toluca Lake building? This stylish condo has it all in 1300 sf. High ceilings, open floor plan, big kitchen with lots of storage and counter space, high-end finishes, huge windows, two large bathrooms, patio, in-unit w/d, fireplace, two parking spaces, and security building too! Expertly maintained unit and building with proactive management company.  All appliances (some brand-new) are included too. Check out the website at 10862Bloomfield103.com.  It's in a great neighborhood close to all that Toluca Lake/Studio City/North Hollywood/Universal have to offer.  And...it's listed for $585,000.  It will be open on Sunday, July 28, 1 to 4 pm, or you can call me for a private showing at 818-370-4837.

Need a home in Burbank? With three beds, 2 baths, and $825,000? 2112 Hilton is now on the market

If anybody you know has been hoping for an affordable 3 bedroom home in Burbank, this is it: 2112Hilton.com.  It features 3 beds, 2 baths, a redone kitchen, redone baths, fireplace, two car garage, quiet neighborhood, pergola, vegetable beds and more.  It is also very close to excellent schools and a short drive to all that Burbank has to offer.  You'll want to put your personal stamp on this, but it's in move-in condition.  At $825,000, it's priced to sell.  This is Egbert's (see below) former home.

Buy Egbert and Oliver's house in Burbank

This is Egbert and Oliver, and their home in Burbank will be available for sale soon.  It's located at 2112 Hilton Dr., in the Burbank foothills, and features 3 bedrooms, 1.5 baths, 1308 square feet, a 7401 square foot lot (perfect for dogs) and a quiet, lovely neighborhood.  The house is in mint condition and the kitchen has been remodeled along with the bathrooms.  It also has gorgeous hardwood floors, a fireplace, and a two car garage.  For those dogs who prefer to escort their human children to school, Jefferson Elementary is a quick walk along with Muir Junior High.  Burbank has everything dogs and their humans need and is freeway-close to the remainder of the north-central L.A. area.  The list price is $825,000 and we'll have more pics soon.  If you'd like to see this before it goes on the market, call me at 818-370-4837 or email me at judy@judygraff.com.

In real estate, you don't often hear the words "meaning" or "sentimental"

This is Ross.  I took this picture when he was about to leave his home of ten years for the last time. Moments like these are always bittersweet, for both the homeowners and me.  I am immensely gratified to have known his family for many years.  I met Ross and his wife Tracy when they were 20-somethings.  They are now almost-forty-somethings, and I have seen them through four real estate transactions, career growth, lots of remodelings, and the addition to the family of two wonderful daughters. (Digression: I’ll never forget 85-lb daughter Lorelei wrangling 135-lb Everest the dog during an inspection.)

“Meaning” and “sentimental” aren’t words that you often hear from Realtors.  But it has meant so much to me to have been involved over the years with this family.  We have lots of memories together! This may sound sentimental, but for me, it’s not just the dollars, it’s the heart that goes into helping people with their life transitions.  Good luck with everything, guys, and I’ll miss you.

I guess the Burbank real estate market isn't that bad...

This is 500 Amherst, Burbank 91504.  It closed today for $1,900,00 -- $51,000 over the purchase price.  It sold in two days and closed today.  The house is so special that I have been calling it a unicorn.  My sellers are unicorns, too -- they gave me such a nice place to sell and they are all so smart and kind.  I have known them for years and will have a post about them in the next day or two.

We also had unicorn buyers -- they were exactly who we wanted to have in the house.  They were direct in knowing what they wanted and made us a dream offer.  They're pretty delightful people, too.  Their agent, Sam Zadori, is also a one-of-a-kind genuis Realtor and was completely on top of things.  That's Sam and buyer Jeff, below.  Thank you so much for such a great transaction, folks!

6542 Ocean Crest, Rancho Palos Verdes is on the market for $510,000

Judy Graff Properties' agent Milla Goldenberg does it again! She just listed this lovely 2 bed, 2 bath condo in RPV for $510,000.  Here's the description: This rarely available end unit with just one shared wall is one of the biggest 2-bedroom homes in the coveted C building. With ocean views from the balcony that stretch to Catalina on a clear day, this home does not disappoint. The kitchen has been tastefully updated with granite countertops and new cabinets, and the two large bedrooms, one with a master suite and walk-in closet, offer plenty of space to stretch out and relax. Sliding doors off the living room lead to a spacious balcony and let in plenty of natural light. Unit comes with two assigned parking spaces and a storage unit. This gated community with pools, spa, BBQ area, gym, sauna and club house is close to parks, Los Verdes CC, horse trails and, of course, award-winning Palos Verdes Schools. Come see it today!

Contact Milla at millagoldenberg@gmail.com for a showing or more info.

Homelessness in Los Angeles - L.A. Times articles of June 5 and 6

If you read the L.A. Times, you know that our homelessness issue is growing.  It rose 12% from this same time last year. This is in spite of all propositions that we voted on to tax ourselves to stop it.  This is in spite of it being the #1 issue that Los Angeles currently faces.  I wrote the following to the L.A. Times today about my idea for a solution.

Dear L.A. Times editors: This solution to much of L.A.’s homeless problem will seem counter-intuitive: stop building.  Stop permitting smaller, older rental units from being torn down for up-zoned, expensive mid-rise condos.  Subsidize the owners and landlords of the pre-1970 apartment buildings, bungalow courts and tenant hotels so they can afford to keep these units affordable to lower-income people. Otherwise, these smaller landlords will lose income if they don’t sell to developers. 

Yes, some of the chronic homeless will still be on the street.  But a lot of non-chronic homeless will be able to afford roofs over their heads (these older, smaller units are where many lived in the first place).  And, this solution will be cheaper for the city/county than building units at $500,000 a pop.

For those who say we must build the high-density city of the future, (HDIMBYs?) I say let’s solve the issues we have before we plan for the future that a lot of L.A. residents may never see.

By the way, I am a real estate broker who has everything to gain by having more expensive inventory to sell.  But I’m also an L.A. citizen who lives among this growing, tragic homelessness problem.

Coming soon in Sherman Oaks - a 3 bed,3.5 bath home with a wine country vibe for $1,850,000

This lovely house is 14840 Round Valley Drive in Sherman Oaks, and it will be on the market next week. OMG, I'd buy it if I could. It's a totally private retreat. You can gaze out at the panoramic view while sitting under your own oak tree (that's Amy, above). Inside, the midcentury-inspired interior features huge windows that open to the massive front yard and yes, the views.  Just about everything has been redone, too.  Now, all you need are a few hundred vines... Check out 14840RoundValley.com for more pictures and come visit me at the open houses next Saturday and Sunday, the 8th and 9th.

Palm Springs 4+3 for $629,000

Need a gorgeous Palm Springs home for $629,000? Judy Graff Properties' agent Victor Agbayani has just listed this beauty.  The address is 2388 E. Via Escuela.  It features 4 beds (two masters), 3 baths, a pool (obviously), a remodeled kitchen, travertine tile throughout, remodeled baths and more.  It's on fee land. Victor has been selling both Palm Springs and Los Angeles, including Silverlake, for over 20 years.  He's an amazing agent and his clients refer him time after time to their friends and family.  If you'd like to see this house or reach Victor for other r.e. needs, please email him at vagbayani@aol.com

Shout out to agent Milla Goldenberg

The pretty lady above is Milla Goldenberg and she is one of our agents here at Judy Graff Properties.  Although she's only be in business for three years, she is absolutely on fire!🔥🔥In the last ten days, Milla has listed two properties and sold two properties.  That's an amazing amount of transactions on top of the other listings and sales she's had since the first of the year.  Not to mention being wife to Warren and mom to four-year-old Nico (also pictured above).  And, she has covered not only L.A., but the San Bernardino mountains, Palmdale, Long Beach, etc. -- that's a lot of driving not to mention hard work! So, kudos, props, shout out to you, Milla, for your wonderful work. I am so proud!  Milla can be reached at millagoldenberg@gmail.com. #MillaGoldenberg #JudyGraffProperties

Wish you were here? You can be. 500 Amherst Drive in Burbank is on the market.

Here's the unicorn house that I've been promising.  This is 500 Amherst Dr. in Burbank, the land of quiet neighborhoods and excellent schools. Check out more pics at 500Amherst.com.  This beauty will be open on Saturday, May 4, from 2 to 5.  Features include 4 bedrooms, including both an upstairs and downstairs master suite, 5 bathrooms, an open plan kitchen-den-dining area (the kitchen has everything you could want), a formal living room, built-ins, office, bonus/exercise room, mud room, huge garage and all upgraded systems.  Outside, a big, green backyard leads to a 20x40 saltwater pool and entertainers' patio.  I could go on and on, but perhaps you'll come see for yourself?

Lisette puts a ring on it

I'm pleased to announce that Lisette Beck has officially joined Judy Graff Properties!  Here's a bit more about her:

Who I am..

With years of experience in real estate, realtor Lisette Beck provides award winning service to her clients. When representing buyers she will pair you with the best property for your needs.  When it comes to sellers, Lisette and her team will take care of everything from A-Z, until we have a successful close of escrow, all while making sure your experience is smooth and efficient. She will also provide lease/listing services for clients residential/income/commercial property. 

Lisette's Philosophy

I pride myself on treating every client with care, making sure their best interest and needs are a priority. I am available to you 24/7, through the course of your escrow or lease, to walk you through every step, and keep you well informed. I have a great team to make sure all of the complex stuff is handled by us and not felt by you, making it a smooth process for you and yours. 

Lisette can be reached at 818-277-4366 or lisettebeckre@gmail.com.

10 ways real estate is like Game of Thrones

For you prospective home buyers out there, I know buying a home can seem just as hard as battling for the throne of Westeros.  (Admit it, this is your fourth season of trying to buy something.) Your experiences on this journey probably look like this to you:

The part of town you'd like to live in:

It's a little congested, but it's really very walkable.

The part of town you can actually afford to live in:

The, um, "city" council is trying to get the next CicLAvia here, and has promised to create bike paths on the dirt roads.

The listing agent:

Seems nice, but don't turn your back for even one minute.  And don't even ask what his side hustle is.  He is still pissed that his boutique "agency" was not selected for "Selling Sunset."

Your seller:

If you think he's a little cold, you'd be right. Would have more fun killing you than closing the deal.  Would prefer it, in fact. Every encounter with your seller is fraught with menace if not outright danger.

Your agent:

Clever but probably bitter, twisted and a little drunk.

Your lender:

Seems to be on your side, but can turn on you at a moment’s notice and scorch you.  Insatiable appetite for paper.

The other buyer who got the house you wanted:

One word: squish.

How the house you'd like to buy looks to you:

How the house you'd like to buy looks to you, after you get the inspector's report:

You, after you’ve lost out on yet another house.

Feeling trapped by fate.

Never fear.  If you are truly motivated and qualified, I can help you win your fight for your own palace.

New restrictions on short-term (Airbnb, etc.) rentals in L.A., damn it

Have you been considering building a guest house on your property and renting it out for short term rentals? Or do you have an extra bedroom that you've thought about using as an Airbnb-type rental? Or, are you planning to buy a condo for short-term rentals? Well, Los Angeles is putting some restrictions in place this July.  The link is below.  The main restrictions are:
- You can only rent out your primary residence;
- It has to be registered with the city; and
- It cannot be rented out on a short-term basis for more than 120 days a year.

https://planning.lacity.org/ordinances/docs/HomeSharing/adopted/FAQ.pdf

Yup, this makes short-term rentals much less attractive.  On the good side, this will probably cut down on noisy party houses that have been driving neighbors nuts.

Is your personal info safe during a real estate transaction? Probably not.

As we all know, data collection and privacy issues are a real problem these days.  Data sales are a big, big business, and several national real estate brokerages now admit to being in the business of selling data.  The good news is there are lots of state and federal laws to protect your privacy.  See California's https://oag.ca.gov/privacy/privacy-laws. 

But some of your info can still be sold.  How can your real estate company, escrow company, bank or title company protect you from having your data sold? First, review the company's privacy policy and ask questions.  The company may be able to furnish you with an opt-out form.  Second, ask if data and files are stored in an online platform.  Some online platforms are theoretically safe (such as your lender's), but some are furnished to third party companies.  If the company does store the info, again ask for an opt-out form or ask if it can be stored in another manner.  Finally, make sure that you are on the do-not-call registry, although this is no guarantee that you won't get annoying calls soliciting your business.  A client of mine recently got about six calls from every five minutes from Realtors who wanted her business.  And her phone number was unpublished.  Her mother got calls too, even though her number is also unpublished and she doesn't even live with her daughter!  (By the way, the info was furnished to Realtors by a company called REXD.com -- steer clear!)

Wonderful L.A. architecture -- the Stahl house

Are you interested in Los Angeles residential architecture? I was privileged enough yesterday to tour the iconic Stahl house.  You've likely seen tons of pics of this place, including the famous picture above.  It was built by Pierre Koenig in 1960 in the Hollywood Hills and featured a completely modern design of steel and glass.  It opens to a panoramic view of Los Angeles as well.  If you are interested in taking a Los Angeles architecture tour, you may want to sign up for Meetup's L.A. Architecture and Art tours.  No, these are not free, but these small group tours are lead by professional docents and expert educators.  You can see more pics on my Facebook page: Facebook/judygraffrealtor. In the picture below, I am sitting in the same spot as the woman in the picture above.

2 communities to consider for midcentury modern homes

Is your heart set on a midcentury modern home? That's kind of affordable? Consider both Northridge and Granada Hills in the San Fernando Valley, among other places. C'mon, they are not that far away!  And both communities offer great public schools.  There are other communities that have many of these builds too -- look for So. Cal. areas that were developed in the 1950s and 1960s, when midcentury home building was in its heyday.  These houses don't come on the market everyday, tho. So if you are seriously looking to purchase, you'll need to jump.  Please call me if you need help.

Ugliest house of the year? You are kidding, right?

I'm printing this article from today's Inman almost in its entirety. This is the worst this company has seen? Ok, it looks like they cooked meth in the bathtub, but it in no way is the ugliest or worst condition house that I've ever seen.  Actually, the living room appears to have lots of character.  This flipper did do a nice job, though.  I always wondered who was behind the "We Buy Ugly Houses" flyers on telephone poles.

See the 'Ugliest House of the Year' and its glorious renovation

The 'We Buy Ugly Houses' company gave the award to a 1,700-square-foot Tudor-style home in Queens, New York City that underwent a serious makeover

BYTEKE WIGGINStaff Writer

HomeVestors, a nationwide home-flipping franchisor that’s also known as the “We Buy Ugly Houses” company, has announced the 2018 winner of its annual The Ugliest House of the Year award.

The honor went to a property purchased last fall by HomeVestors’ franchisee Nyath Properties, as a run-down 1,700-square-foot Tudor-style home in Queens, New York.

HomeVestors reported that the home won the most votes from the American public out of thousands of home makeovers completed by HomeVestors franchisees.

The Queens home had a giant hole in the bedroom ceiling, “destroyed bathrooms, and less-than-habitable conditions throughout,” HomeVestors said.

Performing a resurrection of sorts, the HomeVestors franchisee gutted the house while salvaging the wood floors and exposed beams. It then replaced “everything else,” including sheetrock, windows, electrical wiring and panels, bathrooms, basement floors and the kitchen.

A bedroom of 2018’s The Ugliest Home of the Year when the property was first purchased by a HomeVestors franchisee.

The same bedroom after renovations.

The home’s living room after its purchase.

The living room after renovations.

“We purchased this house from a seller who had been struggling with a sick family member that had lived in it for years, and who was grateful to find a way ‘out’ of dealing with the property,” said Steve Papadakis, who runs Nyath Properties with Michael Gatzonis, in a statement.

“The seller didn’t have the time or resources to improve it to a condition that traditional sellers would consider. But, we were able to give her cash to get her out of her ugly situation, and were beyond thrilled with the chance to work our makeover magic.”

The home’s kitchen pre-rehab.

The home’s kitchen after renovations.

The pre-rehab bathroom.

The post-rehab bathroom.

More than 1,000 HomeVestors affiliates operate in 168 markets across the country, typically hawking all-cash offers with the come-on “We Buy Ugly Houses,” and vacuuming up thousands of properties every year.

From Sunday's L.A. Times: a lot of potential home buyers are sitting on the sidelines

Sunday's L.A. Times had a really interesting article about how some home shoppers are calling it quits, believing that prices have peaked.  Read the entire article here.  Here are some of the more pertinent quotes:

"A belief that the price slowdown will lead to a price drop could become a self-fulfilling prophecy, experts said."

"Many who are struggling to afford a home in California would welcome a significant price drop, if it wasn’t accompanied by an economic collapse. But experts say such a prospect is unlikely, given that homes don’t appear to be in oversupply. The state has a well-documented housing shortage."

"Other factors argue against a crash. The California economy is still posting robust job growth,despite the shadow of a trade war with China, which has become a big market for goods produced in the state. Whereas last decade’s housing boom and bust were driven by questionable lending, loan standards are much tighter today. And as much as prices have risen, the jump hasn’t been as sharp as it was in the early to mid-2000s.

“We don’t have a debt problem. We don’t have an overbuilding problem. We don’t have an economic problem — prices are not going to fall,” said Christopher Thornberg, founding partner of Beacon Economics, who called last decade’s housing crash".

Watch us grow again! Reuben Pacheco has just joined Judy Graff Properties

I am thrilled to announce that ace agent Reuben Pacheco has just joined Judy Graff Properties.  I have known Reuben for years and he is more experienced than 95% of the agents working today.  He has forgotten more than I even know.  Reuben has a subspecialty in architecture and estates, and that knowledge will be a welcome addition to our toolbox here at JGP.  Reuben can be reached at 1-213-804-4245 (domestic/international) or Reuben@ReubenPacheco.com. Here's Reuben's bio:

Reuben Pacheco Bio

Thank you for taking a moment to hear my message. My first career choice was to become a Real Estate Professional and in 1986, at age 16;  I began working in a large Westside office as a Receptionist then 6 months later was promoted to Office Administrator. Being an eager and aggressive person, I quickly rose to Office Manager. By 1988 at 18 years of age, I took the leap of faith and became a licensed Realtor.

In my 32 plus years working as a real estate professional, I’ve only worked for a couple of brokerages which, in my line of profession, is unusual. Being self-motivated and self-sufficient at my work, I tend to hang my hat at a company for many years.

By 1993 and at the age of 23, I decided that I wanted to own my own brokerage and did so, by joint venture, with a mortgage company. For 17 years;  I was an independent Broker working with high-net-worth individuals and selling multi-million-dollar properties throughout the Hollywood Hills, West Hollywood, Beverly Hills & Miracle Mile areas.

In 2011; I was invited to join the esteemed John Aaroe Group as an Architectural Agent. Over the years John Aaroe Group became Pacific Union and finally Compass. Being an Architectural Agent means, I have sold a high-dollar volume of properties with a significant pedigree — which classifies me as a Top Producing Agent ranking in the Top 10 % company-wide and ranking within the Top 2% of real estate agents nationwide.

Over the years, I’ve broadened my talents with skills such as mortgage banking, buying and selling both domestic and internationally, rehabbing and flipping properties, commercial sales / leasing along with training and coaching new agents.

Recently, Judy Graff with Judy Graff Properties has recognized my successes and talents with an offer I couldn’t refuse.  As of January 2019, I will be an Architectural and Estates Director with the esteemed Judy Graff Properties, located in Studio City.  I couldn’t be more pleased to work with such a sophisticated and educated group of well-seasoned professionals and associate my name with the many talented at JGPs. I’m more excited and invigorated than I have ever been before knowing my association with JGP will grant me greater access to more Buyers and Sellers interested in the Architectural and Estates Homes arena and extend my reach as an agent with a more robust domestic and international marketplace.

My outlook is simple: I love my Real Estate career and all the wonderful opportunities it has offered me.  If you feel there is a match between us, I’d very much like to chat with you and see if I can be of assistance. I am here to help!

–Reuben Pacheco