Friday, February 15, 2008

Thank you Mr. Bush for the Stemuli

President Bush Wednesday signed off on the $168 billion stimulus packaged approved by Congress last week.

The economic stimulus package will allow the Federal Housing Administration, as well as Fannie Mae and Freddie Mac, to offer mortgages above the current conforming loan limit of $417,000 to as much as $729,750 in high-cost areas using a formula that considers an area's median home price. The increase would only apply to loans originated between July 1, 2007 and Dec. 31, 2008.

Raising the limits is long overdue. Are you looking to get into a new home with a closing by Dec. 31 of 2008.

Call me and let's get you started.
Keith Lambert

Monday, February 11, 2008

Local parcels that are upgraded worth the money

One neighbor is moving on. They bought a nice basic house. They fixed it up over the 2 years they lived there. Now it is for sale for $999,000 on Colonial.

Most of the USA will think a 3 bedroom 2 bath home on a small lot is way overpriced at $999,000. But not so for Mar Vista Hill.

There is a house just a 1/4 mile away on Palms that is all new from the foundation up to it's view roof deck. 2 stories on a VERY busy feeder street. But at $ 1,898,000 is in line with what the newer homes are worth if built out to full modern standards around here.

The dog (run down) houses on the standard lot is worth $750,000-ish as dirt value. Just the land. The house on it does not matter much. I can point out 3 that I have pointed clients too. One was purchased for the slow fix up like above. One bought and torn down for a full on mini mansion that the local neighbors will hate for overbuilding. Ho well. It fills the lot and has some view potential. Nice house for a new large family. Another is a small developer who is building a cool new modern home on it.

This neighborhood is still a very sound investment.

IMHO Keith.

Wednesday, February 06, 2008

If walls could talk would you listen?

Another attempt to be helpful for tenants, this site is interesting.

This link is to the few items for Los Angeles. Not as fun as the one with the maps. But not slow to load like the Beta version now running at

I found out some interesting information on some places. ( like in Kent WA) I wanted more data. But it is a issue for the date to be uploaded by people who know that property or place and are motivated enough to do something about it. That would be a pissed off tenant. Rarely a happy tenant.

Is it a place to advertise your apartment building for rent? Not sure. Needs more traffic.

Craig's List is the hands down winner for that job.