Another great Yelp review

I just received another great Yelp review from my clients Briana and Mike.  Their condo was really hard to sell due to HOA issues that most lenders don't like. Other posts about the unit can be found in the archives here -- the address is 5227 Denny Street #101, North Hollywood.

Anyway, we were able to get the unit sold and get Briana and her family into a particular home that they've always wanted.  It's been wonderful working with them over the years and I can't wait to see what they've done with their new place.  From Yelp:

We've worked with Judy for 6 years now. First, when we bought a condo in 2009 and just a couple of months when we sold said condo and purchased a house. Our condo situation was not ideal. It was unwarrantable and near impossible to sell and somehow Judy did it. It was a flawless transaction and I still can't believe we got out of it.

As far as our new home, we had mentioned a couple of times we loved it overt he years as we walked by it all the time. She happened to be the agent for the people who purchased it years ago and mentioned it to us that they were looking to sell. Being that our condo was "unsellable" we thought it was a complete long shot that we would be able to sell it and some how get this new home.  Apparently Judy is a miracle worker because she did it. We closed the condo and moved in to are new home all within days of each other. I cannot thank her enough for putting up with a very stressful me and making this happen. Then, on top of that she thanked us with a thoughtful gift. Judy is the real deal and she just basically makes shit happen. Thanks Judy!

3rd time's the charm: 5227 Denny #101 in North Hollywood has sold. With a VA loan, no less.

After three times on the market, this North Hollywood Arts District condo sold on Monday.  5227 Denny #101 was first on the market two years ago. And was listed for the second time a few months later. We had lots of interest, but because of lending restrictions on certain types of condos and home owner associations, we couldn't sell it to anything but cash buyers, and it never sold.

Mortgage lending has changed and loosened up in the last two years on condo units like this.  The unit sold this time to a buyer with a Veterans' Administration loan.  The VA part itself amazes me.  Most lenders, myself included, will run like hell away from offers with VA loans.  No shade to veterans, but VA loans have always been exceedingly restrictive, have taken a long time to close, and have required lots of extra stuff from both sellers and buyers. But this isn't your father's VA loan program -- it went through without any problems (well, okay, the appraisal took a long time) and closed on time.  Thank you to the buyer's excellent agent Adam Martinez for talking us into taking his buyer's offer!

Price reduction on 5227 Denny in Noho -- now listed at $430,000. Plus bonus for buyers.

Even though we haven't been on the market even a week, the sellers have decided to lower the price on this gorgeous 3+2 condo to $430,000 from $449,000.  Also, the sellers will credit their buyer $1000 towards closing costs for a less-than-30-days close.  If you're thinking about moving to this up-and-coming area, please come check out 5227 Denny #101 during the open house on Tuesday, the 26th, from noon to 2 pm.  More open house info to follow.

Gorgeous 3+2 condo in Noho for $449,900

This beauty is 5227 Denny, #101 and it's in the rapidly developing area of North Hollywood Arts District. Features include a front-facing unit, huge kitchen that opens to the sunlit living room, long Caesarstone countertops, glass tile backsplash, bamboo floor, custom paint throughout, decorator window treatments throughout, high ceilings, fireplace, and big, sleek bathrooms with modern fixtures. 2 balconies allow for barbecuing and gardening. This unit has 2 dedicated, private storage rooms downstairs and the building has a bike room, too. Security bldg with guest parking, too. Close to the Red Line, Chandler Bike Path, cool restaurants...there is simply nothing like this unit in the neighborhood. Please call me for a showing.

Open today, 8/18, from 2-5: 5227 Denny #101, North Hollywood and 2112 N. Brighton, Burbank

Seeking an adorable 2+1+den in Burbank for $430,000? Please visit me today at 2112 N. Brighton. If you'd rather have a really cool 3 bedroom condo in trendy Noho, please visit colleague Scott at 5227 N. Denny #101 in North Hollywood.

News of the week: 5227 Denny #101 is still available! And more...

Do you know anybody looking to buy in Noho? Or anybody that simply wants a gorgeous three-bedroom condo? Consider 5227 Denny #101, pictured above.  Yes, it's 3 beds, 2 baths, fireplace, big newer kitchen, bamboo floors, 2 extra storage spaces, 2 patios, and much more in one of L.A.'s coolest neighborhoods.  It is listed for $420,000 and the HOA fees are $261/month.  I can usually arrange a showing with just a bit of advance notice.

In other news, prices are still going up and inventory is still down.  It looks like small (under 1,000 sf) homes across the east San Fernando Valley are hitting the $500,000+ mark now.

And Realtors are continuing to list properties low and then entertain multiple offers and bidding wars.  One client set has been waiting a week now to hear about their offer, which they increased from the original price.

Stansbury is in escrow.

In more upbeat news, I will likely have a small house listed in Burbank soon, along with a 3+2 in Noho that's currently being fixed up.  These may be on the market later this month; just not sure yet.  There may be one coming in Valley Glen, too.

I met a friend and former client at the lounge at Amarano last night and it was swinging! With a chic, younger (than me) set, of course.  Amarano is a boutique hotel right on the border of Burbank and Toluca Lake.  It's a really classy place and we had lots of fun.  My only criticism is that they could improve their house Cabernet.

Open Sunday, 7/21, from 2 to 5: 5227 Denny #101, North Hollywood

If you're looking for a gorgeous condo, you owe it to yourself to see this one.  Three beds, 2 baths, single story with no steps, huge kitchen, new since 2009, bamboo floors, big closets, fireplace two patios, faces the street, and wheelchair-accessible (see post below).  It also has two extra, dedicated storage rooms and the building has a bike room.  It's very close to the Noho Arts District and public transportation, too.  Listed for $420,000; the building's HOA fees are a low $261.  Steve and I will be there from 2 to 5 today.

Need handicapped-accessible or age-in-place housing?

If you, or somebody you know, is looking to own wheelchair-accessible or age-in-place housing, consider 5227 Denny #101 in North Hollywood.  This 3-bed, 2-bath ground floor condo has no steps, a ramp to the building, and extra-wide doorways.  It may be ADA-compliant, too.  Plus, it's gorgeous.  The building was built in 2009 and the unit has a huge, "done" kitchen, living room with fireplace and sunny exposure, two patios, laundry in unit, lots of closets plus two extra storage spaces in the garage.  The decorating is gorgeous with chandelier-type lights and decorator-drapes plus bamboo floors.  It's listed for $420,000 and the HOA fees are a low $261.  The building is a few blocks from the Red Line, Orange Line, and all the attractions this developing community has to offer.  See more pics at JudyGraff.com or contact me for more info.

Credit Unions for Mortgages? Yes

As you may have heard, some credit unions are getting into the mortgage lending game.  This is good for borrowers as credit unions are not-for-profit.  Have I tried out one of these credit unions as a lender on a property? No, and I am a little nervous that it may take longer to get the loan to go through than it usually does.  But back to the highlights:
- Credit union interest rates are a little bit cheaper than conventional lender interest rates.
- CUs are big on adjustable rate mortgages, although they have fixed-rate loans available, too.  ARMs haven't been popular in recent years, and most people prefer fixed-rate mortgages.  But in a time of rising values, I think there is no reason to fear ARMs -- once a property has equity, a borrower can refinance into a fixed-rate loan.
- Current CU lending guidelines say a buyer needs 10% down for an ARM, or 20% down for a fixed-rate loan.  The borrower's credit score needs to be pretty high, too.
- CUs will make loans on properties that other lenders won't touch.  For example, they will make loans on condos where the condo building's owner occupancy is low.
Note for 7/18/13: a Twitter contact says 5% down, 5/5 ARMs are coming soon to credit unions.

Speaking of condos with low owner occupancy, please check out my listing at 5227 Denny #101 in North Hollywood. It will be open this Sunday from 2 to 5.

5227 Denny #101 in North Hollywood - mini-open house tomorrow

Need a gorgeous, 3 bedroom, newer condo in North Hollywood Arts District? I'll be having a mini-open house tomorrow (March 17) at 5227 Denny #101 from 2 to 4.  It's listed at $420,000 and the HOA dues are only $261.  You can see more photos on my website at www.JudyGraff.com.

Yes, this just fell out of escrow.  In this market, it's not just buyers getting screwed, it's sellers too.  I can't wait to name names here.