Sunday, December 10, 2006
See "Maybe it's locution, locution, locution" on LATimes.com
Yup even though the studies for the story were from Texas and Canada the basics hold true. And more importantly they describe the underlying conditions of the property in its relation to the market in general.
If a listing says "gourmet kitchen" it will denote that the previous owner or the speck builder who just fixed it up did care about the nicer things in life. So the property deserves a premium over the other items in the market place. Not just the words getting the premium price, the property warranting it.
I could say a lot about that... For example. Was the market really down or was it just that most of the westside home sales of Quarter number 2 of 2006 were of the dilapidated sort. Then the owners fix themselves or they were professionals and Fixed to Flip. So what was it ... Down trend on the market of westside homes or was it a series of shabbier homes getting sold.
I think that for a bit those were the ones being sold at that time for some areas.
Those of us out pounding the pavement saw that to a large degree.
Those numbers affect the statistics but the price to square foot is not adjusted to quality or condition on statistical reviews. The MLS and DataQuick can not do that.
Therefore the average investor and homebuyer needs a really knowledgeable local representative to help him/her get the best info on the local area.
If you are looking in west Los Angeles,
I can help you. Keith Lambert
Sunday, October 08, 2006
OK how bold are you? Still Buying?
Then look at this Small Craftsman Fixer in Venice for 875k
Use as a SFR and hang out while you work your way through the planning dept and Coastal to get the site entitlements for a three or four unit development into nice fully set up property.
Right in the heart of trendy Venice California. Now that price may seem high for the other areas of the state but it is really low for the highly sought after Venice Beach community on the West Side of Los Angeles.
Sales on the same street and in the same APN number show more value. And the best return is when you change the property for the better. What better improvement than to change it from one home into 3 homes with great return potential.
What do you think of Venice? Hit Comments.
Do you want to know more? Send me a email or call.
via my web site at www.REList.net
Sincerely Keith Lambert
Helping you acquire Real Estate and wealth.
Monday, October 02, 2006
In Los Angeles just out side the Coastal Commission reach and yet near to Venice Beach and Marina Del Rey. And it is on Two traffic corridors.
If you go Condo it is very valuable. If you build rental unts is is still profitable. If you use low income credits and programs you can make it a little sweeter still.
At $2,500,000 for the land is the start. Then build up to 4 or 5 stories high.
So... What is your building costs on this type of project?
Let me know your thoughts.
email or call or post your comment for all to see.
Monday, September 25, 2006
Just for back up I want to offer this information from Veros Real Estate solutions. It has great info for mortgage and Real Estate businesses. So here it is again for you, my potential client.
Veros Forecasts Nation’s 10 Hottest and Coldest Markets JUNE 30, 2006
– Veros has released the results of its quarterly forecasting of the nation’s real estate markets, revealing the top 10 hottest and coldest markets for the next 12 months…. (edit) its automated home valuation analytics are highly accurate and dependable.
According to Veros, the ten markets in its coverage area that will see the greatest home price appreciation over the next 12 months, along with the expected appreciation rate will be: Seattle, 11%; San Bernadino County, Calif., 9%; Jacksonville, 9%; Raleigh/Durham, 8%; Tampa, 8%; Tucson, 7%; Riverside County, Calif., 7%; Oakland, 7%; Los Angeles, 7%; and Nashville, 7%.
The markets that show the least home price appreciation over the next 12 months are expected to be: Rochester, -4%; Worchester, -2%; Sacramento, -2%; Memphis, -1%; Dayton , -1%; Grand Rapids, 0%; Boston, 0%; Cleveland, 0%; Detroit, 0%; and Fall River, MA, 0%.
Veros Vice President of Technology Eric Fox presented the material at PMC 2006 in Dana Point, Calif. “We expect some home price appreciation on the hot market side, but nothing compared to what we’ve seen in the past. There are no 25%-plus markets in our projections. Appreciation is slowing way down.” Fox compared Veros’ predictions from April 2005 for the period Q205 through Q106 to actual home appreciation measured in the 10 hot and cold markets the company identified at that time. The projections made at the time proved to be very accurate. Using a typical measure used by statisticians to measure forecasting accuracy, R-squared, Veros scored 0.68 out of 1.0, indicating that nearly 70% of the variation in the results had been accurately predicted. Performing the same analysis on the results from the predictions made in April 2004 yielded an R-squared of 0.78. The prediction made in April 2003 yielded a 0.65.
So... Looks good for the local Los Angeles area. Appreciatiion of 7% per year means it is still a good time to buy.
Let me know what you think of that.
310-754-8116 or mailto:Keith@relist.net
Thursday, July 06, 2006
HAPPY BIRTHDAY TO THE
Translation of the Fed Speak is that inflation remains relatively tame, which was good news for Bonds and therefore home loan rates, improving slightly for the first time in a month. …
Last week also brought news on the Housing Sector, with both New and Existing homes showing better than anticipated sales. The inventory supply for new home sales improved to 5.5 months, down from the 5.8 months reported previously, while existing home inventories rose slightly to 6.5 month supply. Another interesting note from the report…the current median sales price of an existing home in the
End clip from the email he sends out.
Rates may taper a little … Message: If you are going to buy do it now or pay more.
Call me to help short out the best one to buy. Mar Vista/Palms Residential or Condo.
Keith Lambert – 310-754-8116Boardwalk Realty, Marina Del Rey
Tuesday, June 13, 2006
Boardwalk's Relocation (RELO) Division is in full swing!
If you need an agent in any part of the USA we can find a qualified full service professional in that area to take care of your needs.
Just let me know what you are looking for & in what town.
Sunday, June 04, 2006
What type of investment property works for you?
Rents are still strong and will likely stay that way for a good long time. Commercial leasing is not a declining market yet. So again they are still strong options as well.
The higher home prices have made many rents seem less of a problem. The fed sees the strong raising rent termed as inflationary. But the real close in affect is that the good apartment building buyer can be assured a steady rental return. Low Risk. I like Low Risk.
If you are not into management of your own property... Let me know I can refer a good property management company.
I'm a boater and so I like the analogy of using Radar to look out on the horizon to see what may be coming your way. Would you agree that 7 % money rates are coming in the not to distant future?
Keith L. Answer via the comments
Thursday, May 25, 2006
THREE DUPLEXES IN A ROW. NO RENT CONTROL! SOME UNITS HAVE BEEN TOTALLY REMODELED. EACH UNIT HAS PRIVATE YARD AND PRIVATE GARAGE. ALLEY ACCESS. CAN BE SOLD ALONG WITH 10815 & 10819 JEFFERSON BLVD. OR CAN BE SOLD INDIVIDUALLY. TOTAL LOT SIZE IS APPROX. 15,000 SQ. FT. CAN BUILD TEN 1800-2000 SQ FT. CONDOS (PER OWNER).
Land Bank for Builder!
So you do not want to build right away... No problem. Sit on these for a little while and land bank them. The revenues from the duplex rentals make it very pain free as you take your time to see what you can get approved with the city. Be patient while you see if the market will be strong after the current correction or market shift.
This Culver City area is a good investor option. Owner will sell them separately if you want to buy one or two of the three. Review with Keith the benefits that you receive as the owner of a clean rental property where the long term benefits are strong.
Will require a strong down payment on listing price of $ 839,000 each.
This is one of three good featured listings for investors added to the REList.net web site today.
Wednesday, May 17, 2006
If the three lots are broken up then the opportunity is lost.
Side by side these three lots make up just shy of 15,ooo sq feet of lot.
Call or email me soon if you know a builder or developer who would like the details.
Keith @ relist.net or 310-758-8116
Tuesday, May 16, 2006
Ashwood is back. The top offer of a couple of weeks ago fell out! Buildable into new SFR !
I will track this one on this blog even if one of my clients do not get it. It is in Mar Vista area just east of
Today I showed it to a friend that had expressed interest in a site he could improve. He was properly impressed and will likely be working on his numbers while I am typing this tonight.
Another quick fix and flip is also in the area. Bigger lot. Newer house. Just need to peal away the old stuff and freshen it up. Any one out there want to make a short play on a $850,000 house that may be able to go for more once improved? Got to take down a lot of country stuff.
Give it a bit of sprucing up. Revamp the Landscape and polish the hardwood. Update the kitchen. It does not have the view that drove a lot recently over 1 million. But it has the bones of a fairly decent house. Can you make friends with the floor plan and make it speak to the heart of a new buyer? Possibly profitable for you if you can!
Thursday, May 11, 2006
3 lots of the sand in Venice Beach for $6.9 million
used for parking now but what would you build ?
OK Post your comment... What would you like to build?
Tuesday, May 09, 2006
Recently a home on Dewey ( just south of
Another Hot one just hit the market place and has all the builders scrambling to grab their calculator. On
Also is there any of you dear readers thawoulddl combine three lots and build a nice Condo development on a total of 15,000 sq feet of land?!?! New. Not on the MLS.
Bigger. Better. An opportunity for construction of profitablele project.
Thursday, May 04, 2006
It had been sold but fell out of escrow and is now reduced by an additional $100k. So what went wrong with it? Likely the units that were bootlegged into the building. It happens from time to time that a unit is broken up into two units. It raises the bottom line for the buildings monthly income.
Is the City Building and safety onto the owner? Is the owner trying to sell before the city forces the corrections?
I have found that smaller units make good revenues.
Tuesday, April 18, 2006
Did some looking at the ones in the area near the 1 fwy and Bundy then worked my way into West Los Angeles. Some of the nicely fixed up properties where priced in the high 800’s and looked rather nice.
But there was a 999 priced house on the hill that held onto my imagination. If you spent real money to fix that one up it could be another $1.5 million home. Great views. It is just so hard to pay 990k and think of it as a lot. Even for Mar Vista.
That one the listing agent will possibly be driving for a price reduction soon enough. Then I’ll be back for it with my builder friends in tow.
I roamed from
But one stood out… A builders investment hot property. Just listed. Priced Right. Good buildable lot. Small house of little more than 600 sqft ! That will nock over with a small little bobcat and one dumpster. On Ashwood in Mar
Build a nice house of 1800 to 2000 sqft and sell it for a tidy profit. The older homes are going for $899k in that area. A new one will easily be $1.150 to $1.25m In north Venice one APN away there are some rebuilds going for that and then some.
Build $ 370,000 – ($185per sqft x 2000)
Plus holding costs and permits etc. (30 to 40K)
Cost $1,150,000 sell for a 100k to 200k profit.
Not bad for one years work. I quickly called all the builders I know. They were all on vacation to the Colorado River or at
By Weds the listing agent had 7 offers by 5 pm. Good deals do not last once the word is really out. Just one Day!
I will track this as it closes and it is rebuilt to let you good readers know what/how/where a good market and quick actions can reward an investor. Teaming up with a Real Estate professional who is “In the Know” is the best way to score on this type of opportunity.
Monday, April 10, 2006
The westside of Los Angeles had several building booms over the years. So there are plenty of rental properties to serve the population that wishes to rent.
These are very good investment type assets. Safe. Secure. Revenue flows that can be counted on. Reasonable amount of security with limited amount of risk. If one appreciates the types of risks associated with a rental property... One can sleep soundly and confidently assured the values and revenue streams will increase over time.
Now that the old banking deregulation and the tide of funds has shifted from banks to the stock market to the Real Estate market... A run up has occurred. That in no way delutes the real value. It just gives the chicken littles a chance run saying "the bubble will pop" "the bubble will pop."
The Dot Com bubble did pop. But the difference is a flow of income and a real asset. Land. So there is back up to the land and real estate value. Not the same.