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Malibu, CA Real Estate News

By Bobby LehmKuhl, Exceeding Every Clients Expectations. Every Time.
(4 Malibu Real Estate)
California pending home sales dipped in July from the previous month, as did the share of sales of distressed properties, the California Association of Realtors said. Pending home sales in California fell 1.7% in July, according to CAR's Pending Home Sales Index. The index was 117 in July, down from June's index of 119, based on contracts signed in July. The index was up 4.9% from July 2010. Pending sales have been ahead of last year's level for the past three consecutive months and should be on track to finish the year even with last year's pace. The total share of all distressed property types sold statewide fell to 44.5% in July, down from June's 46.9%. The share of distressed sales also was down from a year prior, when distressed sales made up 47.7% of all home sales. Of distressed ...
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By Bobby LehmKuhl, Exceeding Every Clients Expectations. Every Time.
(4 Malibu Real Estate)
Analysts reacted to the July new home sales decline Tuesday with dread, saying the housing market has years of stalled recovery ahead. The Commerce Department reported the seasonally adjusted rate of new home sales in July declined 6.8% from one year ago, coming in below analyst expectations. Sales slumped back below the 300,000 market and sit not too far from the low of 278,000 units in August 2010. New home sales have to compete with a flood of distressed and previously foreclosed properties. The Commerce Department estimates roughly 165,000 new homes for sale on the market, roughly equal to a 6.6-month supply. However, the shadow inventory of distressed property ranges as high as 4.5 million properties, according to theMortgage Bankers Association. Standard & Poor's recently said the...
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By Bobby LehmKuhl, Exceeding Every Clients Expectations. Every Time.
(4 Malibu Real Estate)
Closed escrow sales of existing, single-family detached homes in California dropped 4.1 percent to a seasonally adjusted 458,440 units in July, according to information collected by C.A.R. from more than 90 local REALTOR® associations and MLSs statewide.  July home sales were up 4.5 percent from the 438,850 units sold in July 2010.  The statewide sales figure represents what would be the total number of homes sold during 2011 if sales maintained the July pace throughout the year.  It is adjusted to account for seasonal factors that typically influence home sales. The statewide median price of an existing, single-family detached home sold in California dipped 0.3 percent in July to $294,230 from a revised $295,210 in June.  July’s median price was down 7.6 percent from the $318,550 recor...
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By Bobby LehmKuhl, Exceeding Every Clients Expectations. Every Time.
(4 Malibu Real Estate)
Concerns about job loss and increasing consumer pessimism reveal that 64 percent of Americans surveyed during the second quarter say the economy is on the wrong track, according to Fannie Mae's latest quarterly National Housing Survey. The monthly survey found that 70 percent of respondents now believe the economy is on the wrong track, and just 23 percent say the economy is heading in the right direction. More than a quarter (26 percent) of American workers reported being concerned about losing their job in the next year. While 44 percent of concerned American workers reported having a home mortgage (compared with 42 percent of all Americans), just 33 percent of them perceive their savings to be sufficient (versus 49 percent of those workers not concerned about losing their job). Forty...
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By Bobby LehmKuhl, Exceeding Every Clients Expectations. Every Time.
(4 Malibu Real Estate)
Fannie Mae recently extended its HomePath Buyer Incentive Offer, in which buyers may be eligible to receive up to 3.5% in closing cost assistance, through October 31, 2011. To qualify, your initial offer must have been submitted on or after June 14, 2011 and you must close by October 31, 2011. In addition, buyers and/or selling agents must request the incentive upon submission of the initial offer in order to be eligible, and only buyers purchasing a HomePath property as their primary residence qualify.
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By Ralph Gorgoglione, California and Hawaii Real Estate (310) 497-9407
(Metro Life Homes)
ActiveRain MasterMinds Challenge - August 2011 - Real Estate Scams:  How can we prevent them? OK, MasterMind Groups. Time for you to do what you've done best: Develop the best solutions. Here is the challenge for August, 2011: It seems that in our tightening economy we are hearing more and more about real estate scams.  People posing as owners/landlords creating fraudulent leases robbing people of their deposit, even some owners with a foreclosure sale set on their property.  And so many of us agents have had our listings hijacked online by people like these.  What can we do to help prevent this and protect our consumers?  Increase awareness?  Mandate paperwork or create additional legislation?  What is the solution? Your team's solutions must be posted HERE on this blog post no later t...
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By Heather Paul, Realtor,Top Selling Real Estate Agent
(Expert 1 Realty)
Ask detailed questions about their experience and skills to help you find the right agent for your home sale. BEST MALIBU REAL ESTATE AGENTS Working with the right real estate agent can mean the difference between getting prompt, expert representation and feeling like you're going it alone when selling your home. Here are 10 questions to ask when you're interviewing agents. 1. How long have you been selling homes? Mastering real estate requires on-the-job experience. The more experience agents have, the more likely they'll be able to handle any curveballs thrown during your home sale. 2. What designations do you hold? Designations like GRI (Graduate REALTOR Institute) and CRS; (Certified Residential Specialist), which require that agents complete additional real estate training, show t...
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By Bobby LehmKuhl, Exceeding Every Clients Expectations. Every Time.
(4 Malibu Real Estate)
From Malibu Patch -  The Canyon Fire was started in 2007 by downed utility poles that litigants claim were overloaded by several telecommunications companies. A multiparty legal dispute regarding one of Malibu's three major fires in 2007 will soon go to trial. A pretrial conference took place last month regarding the suit involving the Canyon Fire, which destroyed 14 structures and damaged 19. The plaintiffs—residents, businesses and insurance companies—say overloaded power poles are to blame. The trial is expected to start in February. The Canyon Fire began Oct. 21, 2007, a day Malibu was threatened by the dangerous combination of strong winds and intense heat. The fire was sparked when three wooden utility poles broke and fell, causing live electric wires to ignite the surrounding bru...
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By Bobby LehmKuhl, Exceeding Every Clients Expectations. Every Time.
(4 Malibu Real Estate)
Sales of existing homes in July fell 3.5% from the prior month, as tightened lending standards continue to hurt potential homeowners, according to the National Association of Realtors. The huge trade group said sales of single-family homes, townhomes, condos and co-ops decreased to a seasonally adjusted rate of 4.67 million last month from 4.84 million in June. NAR said July existing home sales were 21% higher than 3.86 million a year ago, which was the cyclical low immediately following the expiration of the homebuyer tax credit. NAR said 16% of its members reported contract failures in July, while 9% said a contract was delayed in the past three months due to low appraisals, and 13% renegotiated a deal to a lower price following a appraisal less than the initially agreed price. The in...
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By Bobby LehmKuhl, Exceeding Every Clients Expectations. Every Time.
(4 Malibu Real Estate)
Coming Soon! Bank-Owned/REO in Malibu. View the property website at http://www.4Malibu.com/listnow/property/31422BirdellaRd.html - Not in the MLS- Craftsman-style home- High ceilings- Large family room- Dining room with wood-burning fireplace- Master suite with large walk-in closet- On cul-de-sac street- Access to nearby hiking trails- Close to freeway & beach - Price TBDView other bank-owned homes on the market & coming to market soon at: http://www.4Malibu.com/bank-owned.html
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By Bobby LehmKuhl, Exceeding Every Clients Expectations. Every Time.
(4 Malibu Real Estate)
Looking for Malibu rental homes? Visit the complete list of Malibu rentals here. Beachfront Landside Furnished/Unfurnished Short-term/Long-term Vacation Rentals Estates, Condos, Townhomes 4 Malibu Real Estate Partners also offers a full service Leasing Department which includes a Property Mangament Division.  
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By Bobby LehmKuhl, Exceeding Every Clients Expectations. Every Time.
(4 Malibu Real Estate)
Routine maintenance will help your garage retain its value and keep it trouble-free for decades. 1. Keep your garage door running smoothly Most newer garage doors come self-lubricated or with plastic parts that need no oil. You’ll need to annually oil older doors with metal rollers, hinges, and tracks. Use a leaf blower to blast all the grit, grime, dust, cobwebs, and dead bugs from the door’s parts. Occasionally check the rubber seal on the bottom of your garage door. It can harden or chip away from wear and tear, allowing the elements to seep under your door. Replacing the seal costs less than $100. Your door may be hitting the ground too forcefully and jarring all the parts, crushing the rubber seal, or allowing light to peek through at the bottom when the door is at rest. To correct...
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By Bobby LehmKuhl, Exceeding Every Clients Expectations. Every Time.
(4 Malibu Real Estate)
JPMorgan Chase stuck to their outlook Friday, forecasting home prices in the U.S. could plunge another 4% to 5%, before reaching a bottom in early 2012. Analysts at the bank originally lowered their prediction on future home prices in June. If prices continue to fall at this rate, they will be down 37% from their peak when they finally reach a bottom. JPMorgan Chase analysts said a drop in distressed home sales activity buoyed prices a bit in the past few months, with the CoreLogic home price index rising for the third straight month in June, edging up 0.7%. Tighter underwriting standards across the board remain a challenge, with many borrowers unable to qualify for loans. Without a fundamental improvement in the demand-supply imbalance, both seasonality and distressed sales may turn ag...
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By Ralph Gorgoglione, California and Hawaii Real Estate (310) 497-9407
(Metro Life Homes)
Take a day trip before the summer season comes to an end to the Malibu Bluffs Park in Malibu, California! The Malibu Bluffs Park is located at 24250 Pacific Coast Highway in gorgeous Malibu. The Malibu Bluffs Park is a great place to picnic, go hiking or toss a Frisbee with your best fur friend and so much more! The Malibu Bluffs Park is a gorgeous park of six acres that overlooks the Pacific Ocean and is conveniently located at the intersection of the Pacific Coast Highway. This awesome park is unique because not only does it have baseball fields, picnic tables and jogging paths it also has a whale watching station for all of you whale watchers out there! While you are at the Malibu Bluffs Park don’t forget to stop by the Michael Landon Community Center as well. For more information r...
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By Bobby LehmKuhl, Exceeding Every Clients Expectations. Every Time.
(4 Malibu Real Estate)
What is the starting bid for the Malibu house once asking $65 million? – A more modest $22 million. Even so, in auction terms that means a new record: It’s the highest priced home ever go to auction. Talk about a motivated seller! This is another example of a growing trend of high-end home sellers choosing to auction their residences off as a way to nearly guarantee a home sale sooner than later. The six-bedroom, nine-and-a-half-bathroom “castle” boasts a master suite with dual baths and two dressing rooms, a massive 90-foot great room, an oceanfront gym, and a blue leather chair-studded home theater room that cost $1.5 million to build. There is also a wood-paneled library displaying a huge salt water aquarium and around the corner, a tequila tasting room. The 4,500-square foot oceanf...
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By Bobby LehmKuhl, Exceeding Every Clients Expectations. Every Time.
(4 Malibu Real Estate)
Housing affordability increased in California in the second quarter as prices dropped from the same period a year earlier. Fifty-one percent of California households could afford a single-family home priced at the median, according to the California Assn. of Realtors. That was an increase from 46% during the same period last year, when buyer tax credits fueled the market and pushed up prices. Affordability decreased from the prior quarter, but that was due to seasonal variations that pushed up prices. Potential buyers needed to earn a minimum annual income of $63,080 to qualify for the purchase of a home priced at the state’s median, $293,580, which is the price at which half the homes sold for more and half for less. The house payment on that purchase, including taxes and insurance, wo...
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By Bobby LehmKuhl, Exceeding Every Clients Expectations. Every Time.
(4 Malibu Real Estate)
As the foreclosure crisis continues to wreak havoc on the housing market, a source of national pride has taken a sour turn. Home ownership is on the decline and, according to a recent Morgan Stanley report, the United States is fast becoming a nation of renters. Last Friday, the Census Bureau reported that the percentage of people who owned a home had dropped to 65.9% during the second quarter -- its lowest level since the first quarter of 1998 and a far cry from the high of 69.2% reached in late 2004. As the foreclosure crisis continues to wreak havoc on the housing market, a source of national pride has taken a sour turn. Home ownership is on the decline and, according to a recent Morgan Stanley report, the United States is fast becoming a nation of renters. Last Friday, the Census Bu...
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By Bobby LehmKuhl, Exceeding Every Clients Expectations. Every Time.
(4 Malibu Real Estate)
Tighter lender standards and an unstable job market have made it tougher for some people, especially those just starting out, to qualify for a home mortgage on their own.  So, some home buyers are turning to family members or close friends with good credit to co-sign a home loan. While becoming a cosigner may seem like a good solution, money manager and lenders caution against those who are asked to be the cosigner. A cosigner, even if not living in the house, is really a coborrower, meaning he or she still is responsible for payments if the occupant is unable to meet his or her obligations.  In other words, if the principal party defaults on the loan, the cosigner is on the hook. One financial planner suggests potential cosigners take a less risky alternative, such as providing a cash ...
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By Bobby LehmKuhl, Exceeding Every Clients Expectations. Every Time.
(4 Malibu Real Estate)
Lost in the recent slew of negative homeownership announcements was a piece of good news for real estate professionals and landlords alike. Rental vacancy rates are at their lowest since 2003 and still falling, which will drive up rents even faster than the 2-3 percent average annual increase predicted earlier this year. Moreover, with demand outpacing supply, the rent-to-buy equation is turning increasingly favorable in markets across the nation. The Census Bureau reported that vacancies for rental housing were only 9.2 percent, 1.4 points lower than a year ago and .5 percent below the first quarter. We haven’t seen a 9.2 percent vacancy rate since 2003. The median asking rent for vacant units was %684. Meanwhile, multifamily is the only busy part of the building business. The National...
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By Bobby LehmKuhl, Exceeding Every Clients Expectations. Every Time.
(4 Malibu Real Estate)
Foreclosures across the West fell in July from the prior month, according to ForeclosureRadar. The firm collects and analyzes foreclosure information from Arizona, California, Nevada, Oregon and Washington. In Arizona, notices of trustee sales fell 16.8% last month when compared to June, marking the fourth-consecutive monthly decline. Back-to-bank foreclosure sales also fell, dropping 6.4% from June. In California, notices of default filings dropped by 11.7% from June and 30.6% from a year ago, while notice of trustee sale filings were down 5.4% from June and 25.3% lower than July 2010. Nevada's notice of default filings fell 8.1% from June to July while notice of trustee sale filings fell 21% from June figures. Oregon's notice of default filings dropped below 1,000 filings for the firs...
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