Las Casas Realty, Inc.

Learn the two main types of mortgages:

2011-02-24T18:24:00.001-08:00

There are two main types of mortgages: Adjustable-rate mortgages and fixed-rate mortgages. It’s critical borrowers are aware of each option and choose the one that best suits their situation. The most important factor in selecting a loan type is the length of time the borrower plans to remain in the home.
(source: California Association of Realtors)

Adjustable-rate mortgages (ARMs) have fixed rates for a short period, usually three, five, or seven years, and then readjust. ARMs are considered riskier because the interest rate and payments can increase when the loan adjusts. Fixed-rate mortgages have an interest rate that stays constant throughout the period of the loan.
Both fixed- and adjustable-rate loans allow borrowers to select various repayment periods. The most common term is 30 years, but if a borrower can afford the higher monthly payments of 20- or 15-year terms loan, they will save money with the lower rate and quicker payoff period.

Las Casas Realty Executive Offices

5713 York BlvdLos Angeles, CA 90042

(323) 254-2206

LasCasasRealty.com

Review LCR on Yelp!

Buyers should take advantage of the 30-day window and get as many loan quotes as possible to determine and secure the best rates

2011-02-24T18:23:00.000-08:00

When shopping for a mortgage, some home buyers shy away from getting multiple loan quotes, fearing their credit will be impacted when multiple parties check their credit within a short period of time. However, consumers have 30 consecutive days in which multiple pulls of a credit score, or “rate shopping,” won’t affect a credit score. With that in mind, buyers should take advantage of the 30-day window and get as many loan quotes as possible to determine and secure the best rates and terms.

Source: CALIFORNIA ASSOCIATION OF REALTORS(R)

Las Casas Realty Executive Offices

5713 York BlvdLos Angeles, CA 90042

(323) 254-2206

LasCasasRealty.com

Review LCR on Yelp!

Use of Social Media in the Real Estate Business

2011-02-24T09:58:00.000-08:00

Use of Social Media in the Real Estate Business

The purpose of this document is to provide brokers with a template
that may be used when developing a social media policy for the broker’s
own firm. The template requires that it be customized to meet the needs of the
broker and reflect the business practices of his/her business. The template is not
a document which can be adopted and used without that customization.

As used in this policy REALTOR® shall refer to the principal broker or a broker standing in the shoes of the principal broker. Agent shall mean a licensed real estate agent employed by or affiliated with the REALTOR®. Users shall mean individuals visiting the social media sites of Agents. Social Media as used in this policy shall apply to both activities at the agent’s web sites (e.g., blogging) and use of third party social media tools (e.g., Facebook, Twitter, LinkedIn, etc.). Because there already exist hundreds of different Social Media tools which may be utilized by agents and more are constantly being created, the provisions of this policy are to be interpreted generally to apply to the types of interaction the agent has with the social media service rather than to specific web sites and providers. Notwithstanding anything in this policy, it remains the responsibility of the Agent to comply with the requirements of local, state and federal law and the Code of Ethics of the National Association of REALTORS®.

The scope of this policy shall extend to all uses of social media in connection with the real estate business (use in connection with the real estate business would include any use in which the agent seeks to promote or capture real estate business from consumers or other agents). This policy is not intended to cover the activities of Agents falling completely outside the real estate business; however any conduct which reflects adversely upon broker or the brokerage may be reviewed under the terms of this policy.

Whenever identification is required by this policy is shall include the following (include those that apply):

a. Name/Logo of brokerage
b. Name of broker
c. Address of the brokerage office with which the agent is affiliated
d. Phone/Fax/E-mail of the brokerage office
e. Name of the agent responsible for the web site
f. State of licensure
g. Agents affiliated with a team may also include the name of that team
h. Phone/Fax/E-mail of agent or team responsible for the web site
i. Any other requirements mandated by state law/regulation
j. Any additional brokerage identification requirements

Blogging

1. Agent shall be responsible for compliance with all laws and regulations governing real estate business including fair housing, antitrust and real estate license laws and regulations.
a. Where identification is required the same items of identification listed in the Internet policy shall apply or
b. Where identification is required, at a minimum the following elements shall be disclosed (see list above to select)
2. The Agent shall be responsible for informing the REALTOR® (and obtaining approval) of any blogging site maintained by Agent and shall be provided with information necessary to subscribe to the blog

3. Terms of Use
a. REALTOR® is responsible for establishing the process for governance of the blog by posting terms of use for the blog.
i. Agent shall use the terms of use of the brokerage for blogs; or
ii. Agent shall create terms of use and allow them to be reviewed by broker prior to launch of the blog
iii. Agent shall make the terms of use available to REALTOR® upon request.
b. The terms of use shall include:
i. Users shall abide by any legal requirements related to the use of the blog and the site’s terms of use for the blog including specifically its privacy policy. Users shall be responsible for their conduct on site
ii. Obtain clear authority from Users to utilize anything the User includes on the site
iii. Prohibit the unauthorized use of third party content or the posting of any unlawful or objectionable materials
iv. Prohibit the use of the site to harass or stalk anyone
v. Prohibiting the posting of content which infringes on the rights of any third party
vi. Prohibit the posting of content which expresses a preference based upon an individual’s membership in a protected class
vii. Provide a take-down policy in the event any such materials are posted to the site
viii. Disclaim responsibility for any third party sites linked to through the site
ix. Generally disclaim and limit any liability arising from the content of the site whether provided by Agent or a User
x. Provide a privacy policy consistent with that used by the brokerage
4. Agent shall not pay or provide anything of value to another party in consideration of comments placed on the blog. If Agent does allow comments to be posted in return for consideration, the fact that the commenter has received compensation shall be disclosed.

5. Identification
a. Agents shall identify themselves when establishing a blog in such a way that Users of the blog shall know the Agent’s name, their status as a real estate licensee and the name of the brokerage with which they are affiliated.
b. In any posting related to the brokerage, the Agent shall assure that the Agent’s relationship to the brokerage is clear so as to avoid violation of the FTC rules.
c. Agents shall not participate in the blog of another party without disclosing their identity and the brokerage with which they are affiliated.
6. Responsibility for Maintenance
a. All blogging must be monitored by agent for false / defamatory / demeaning / degrading comments at least once per ______
b. Agent is responsible for removing or clarifying any comment if the agent knows that it is false or misleading
7. Agent is responsible for assuring that the content and operation of the blog conform to the standards established in the Code of Ethics
8. REALTOR® must be notified of any offer of compensation to the Agent for real estate related services communicated or established through the blog

Use of Third-Party Social Media Sites (Facebook, YouTube, Twitter, etc.)

There are hundreds of providers of social media services in which real estate agents may participate. The purpose of this policy is to provide guidelines intended to provide both agents and the brokerage with legal liability risk management and to protect the brokerage’s reputation and good will in the community. Like with blogging, the scope of this policy is intended to relate to use of social media in connection with the real estate business, but regardless of the social media service being used, when related to the real estate business the Agent should observe these guidelines.

Agents are required to read and be familiar with the policies and requirements of any site on which they participate and to comply with the requirements of that site. In particular, Agents should know the privacy practices and policies of the sites. Where options are provided, the Agent shall / may select an option which provides a level of protection to Users of Agent’s social media site consistent with the level of protection afforded by the brokerage at the brokerage’s web site.

Agents should remain aware that items posted on social media sites may be forwarded or used for purposes other than originally intended. Agents should be aware of this when making decisions as to what to include on their social media sites.

Posting of Professional Contacts/Qualifications (e.g., LinkedIn)

1. Agent is responsible for assuring that any listing of qualifications, credentials or training contained on the site is current, accurate and not misleading. Any changes to the foregoing shall be promptly revised on the site.

2. Agent shall not falsely claim association with any person or group

3. Notwithstanding any provision herein, Agent remains responsible for complying with the license laws and regulations governing the conduct of licensees and all applicable local, state and federal laws.

4. Agent is responsible for assuring that the content conforms to the standards established in the Code of Ethics

Posting of text (e.g., Facebook, MySpace, Twitter)

1. All text shall be the Agent’s own and not plagiarized or copied from another party without that party’s permission. This shall not prohibit the use of reasonable quotations from the writings of others or writing for which the Agent has received permission to use or using writings consistent with the practices of the site (e.g., retweeting). No content which infringes the rights of any third party may be used.

2. Agent may/may not write regarding the listings of other licensees within the brokerage

3. Agent may /may not write regarding the listings of other brokerages

4. Agent shall assure that writings do not contain unauthorized disclosures of confidential information of clients, customers or REALTOR®

5. Agent is responsible for assuring that the use of the site is consistent with the Code of Ethics, local, state and federal laws and all applicable real estate license laws and regulations, including where necessary identifying Agent.

Posting of comments to social media pages of others

1. Any statement regarding the brokerage shall clearly disclose the Agent’s relationship to the brokerage

2. The Agent shall disclose his/her status as a real estate professional as a part of any real estate related statement

3. Agent may/may not accept compensation for placing a comment on a site

4. Agent is responsible for assuring that the use of the site is consistent with the Code of Ethics, local, state and federal laws and all applicable real estate license laws and regulations, including where necessary identifying Agent.

Posting of photos (Flickr)

1. Agent is responsible for assuring that that Agent is authorized to use any photo posted to the site (to avoid copyright issues)

2. Agent shall secure permission to post for marketing purposes the image of another person on the site

3. If an image has been materially altered in any way by Agent, the fact that the image is altered shall be disclosed

4. Agent is responsible for assuring that the use of the site is consistent with the Code of Ethics, local, state and federal laws and all applicable real estate license laws and regulations, including where necessary identifying Agent.

Posting of audio/video (YouTube)

1. Agent is responsible for assuring that that Agent is authorized to use any audio/video posted to the site (to avoid copyright issues)

2. Agent shall secure permission to post for marketing purposes the image of another person on the site

3. If an image has been altered in any way by Agent, the fact that the image is altered shall be disclosed

4. Agent is responsible for assuring that the use of the site is consistent with the Code of Ethics and all applicable real estate license laws and regulations, including where necessary identifying Agent.

Las Casas Realty Executive Offices

5713 York BlvdLos Angeles, CA 90042

(323) 254-2206

LasCasasRealty.com

Review LCR on Yelp!

Introduction to Highland Park-Garvanza Architectural Styles: 19th Century Styles: Classical Revival

2011-02-15T14:47:00.000-08:00

The Architectural Styles Chapter of this Plan is intended to give an
overview of the predominant styles that may exist in the Highland Park-
Garvanza HPOZ. Each architectural style explanation has been divided
into two sections, a textual overview of the style and its development,
and a listing of some typical signifi cant architectural features of that
style. These descriptions are intended to assist property owners and
the HPOZ board in determining the predominant architectural style
of a structure, and in understanding the elements of that style. These
descriptions are not intended as comprehensive lists of signifi cant
features of any style, and are not to be taken as an exhaustive list
of what features should be preserved. Rather, they are intended as a
starting point for discussion about what rehabilitation or restoration
projects might be appropriate to a particular property.

The reader may note that each architectural style description contains
a note on what architectural styles can commonly be found mixed
together. This note is included because architectural styles are not
always found in a pure state. Individual owners and builders quite
often customized or mixed the elements of different architectural styles
together in designing a structure. This may be because cultural tastes
were transitioning between two styles, with some styles falling out of
favor and new styles being introduced, or simply due to the personal
taste of the designer. It is important to realize that these mixed style
structures are no less architecturally signifi cant than the “purer”
forms of a particular style, and that mixed style structures are not
“improved” through remodeling with the goal of achieving a “pure”
style. Los Angeles is particularly rich in inventive, “fantasy” structures
that show a great deal of creativity on the part of the architect, owner,
and builder, and this richness should be preserved.
The architectural style descriptions may contain some unfamiliar
terms. Many of these terms are defi ned in the Defi nitions chapter
located at the end of this Preservation Plan, or are illustrated within
the Design Guidelines chapters.

19th Century Styles: Classical Revival
(Includes Neo-Classical Revival, Beaux Arts, Greek Revival)

Background
The various Classical Revival styles were popularly used in Los Angeles
from the mid 1800s through the 1930s, though the style remained
en vogue with institutional and commercial structures through the
Second World War. Many attribute the popularity of the Classical
Revival styles to the City Beautiful Movement, born out of the World
Columbian Exposition held in Chicago in 1893, though the style was in
use prior to that event.

Common Components of the Neoclassical Revival Style
The Neoclassical Revival style is closely related to both the Greek
Revival and Colonial Revival styles. A double height front portico with
Ionic or Corinthian columns tends to be a hallmark of the style, and
Neoclassical Revival style is primarily distinguished from the Greek
Revival or Colonial Revival styles by its ornate detail.

Common Components of the Beaux Arts StyleThe Beaux Arts style is a combination of the Classical styles with
Neo-Baroque and Renaissance elements. Residences in this style tend
to be grandiose and ornately decorated, and exhibit several classical
elements such as lateral symmetry and classical columns. Elements of
the Beaux Arts style can be mixed with the Italianate, Neo-Classical
and Renaissance Revival styles.

Common Components of the Greek Revival StyleGreek Revival structures will specifi cally recall the proportions and styles
of the ancient Greek temples and structures and will use Doric, Ionic or
Corinthian Columns as opposed to composite motiffs. Greek Revival style
features can often be found mixed with Italianate and Federal styles.

General Characteristics:
• Massive symmetrical and rectilinear form
• Low pitched roof
• Decorative dentils along eaves
• Triangular pediments supported by classic columns
• Large rectangular windows, usually arranged singularly
• Decorative plaster elements
• Masonry walls
• Color schemes indicative of stone and masonry construction

Read More about HPOZ here: http://www.preservation.lacity.org/files/Highland%20Park-Garvanza%20PP%20Ch1-Ch6.pdf

Las Casas Realty Executive Offices

5713 York BlvdLos Angeles, CA 90042

(323) 254-2206

LasCasasRealty.com

Review LCR on Yelp!

2 story townhouse in a small complex offers proximity to 2FWY and under 10 miles from Downtown LA and Glendale

2011-02-05T19:42:00.000-08:00

This is a 2 story townhouse in a small complex close to 2FWY and minutes from Downtown LA and Glendale. The first floor has a living room with fireplace, dining area, kitchen. Upstairs are 3BR/2BA including a master suite. There is a nice balcony too. The 2-car attached garage has direct access to the unit. The complex has a community pool and is gated. Please call for more information.

Listing #10494095 $279,900 (LP) Price/SqFt: 212.21	3827 W Avenue 41 #17, Los Angeles, CA 90065 Active
	Beds: 3	Baths: 3 (0 0 0 0) (FTHQ)	Sq Ft: 1319	Lot Sz: 0sqft
	Area: 623	Yr: 1981

	Featured properties may not be listed by the office/agent presenting this brochure.
Information is provided as a courtesy by the i-Tech MLS, has not been verified, is not guaranteed, and is subject to change. The method and manner of calculating Days On Market (DOM) may not reflect the total number of days a property has been made available for sale. Copyright ©2011 Rapattoni Corporation. All rights reserved.

Listing Detail #10494095 - Residential

Highland Park-Garvanza: Background and History: The foursquare style home

2011-01-26T09:34:00.000-08:00

We are so proud of our Three decades of service in Highland Park, CA and we would like to share the historical richness and deep LA roots that this community offers to LA's interesting history & culture. The information below is extrapolated from the HPOZ preservation plan (see full report by clicking the link at the bottom of this post).

We will be sharing snippets of this report in a series of posts. Please enjoy the first installment which explains Highland Park's history as well as a wonderful explanation of a popular architectural style of home commonly found in Highland Park called "The Foursquare". Enjoy and feel free to leave feedback and comments below!

19th Century Styles: American Foursquare

History of Highland Park & Garvanza
Nestled between Pasadena and downtown Los Angeles, Highland Park,
and its various smaller neighborhoods, represents a direct link to the
developmental and cultural history of Southern California. A result
of the 1880’s land boom, it was one of the earliest L.A. subdivisions.
Bolstered through the years following its founding by easy access to
nearby rail transportation, the community would continue to grow up to the period after the Second World War. By the 1980s, new housing
developments were threatening to overrun the historic character of the neighborhood, generating a strong community interest in preserving and celebrating the history of the area. This would prompt the City of
Los Angeles to designate the area a Historic Preservation Overlay Zone in 1994.

Highland Park-Garvanza Period of Significance
The Highland Park-Garvanza HPOZ contains residential, educational, and commercial spaces built during the late 19th century and early to mid 20th century. It retains the character of these periods, and is host to many examples of styles including Craftsman, Colonial Revival, American Foursquare, Victorian, and Spanish Mission revival. Due to the broad defi nitions, the period of signifi cance is considered to be between 1886 and 1961. Like in many other historic Los Angeles neighborhoods, the pre-turn of the century homes were often based on East-Coast homes, built from pattern books or plans based on European models. The practice of building many styles of homes within the same neighborhood would lead to a salt-and-pepper effect, with old styles standing next to newer ones, establishing an eclectic fl avor to Highland Park. There are however some concentrated areas of buildings in the same style, which are described by the fi eld study as being prime examples of their respective types.

Background
The American Foursquare style is a residential style frequently used in
Los Angeles from the turn of the last century through the 1910s. Popular
in American suburban development, the style lent itself to low-cost
design that maximized square footage on small lots while presenting a
dignifi ed appearance. A precursor to the Craftsman and Prairie styles,
Foursquare houses tended to avoid the ornate detail associated with
styles such as Queen Anne and Eastlake.

Common Components of the Foursquare Style
A Foursquare house is generally two stories, with a simple square or
rectangular footprint, a low-pitched, usually hipped, roof, a front hippeddormer,
and a substantial, though often asymmetrical front porch.

Columns suggestive of the classical orders, dentils, and traditional
moldings are also commonly found on Foursquare houses. Windows are
always rectangular and may be arranged singularly or in groups—often
the fi rst fl oor will have grouped windows and the upper-fl oor will have
singular windows. Doorways are also rectangular and tend to be wide,
often with large panes of glass in the door or as side lights. Cladding
may be masonry, clapboard or to a lesser extent stucco.

Elements of the Foursquare are often found mixed with the early
Colonial Revival and Prairie styles, though the simplicity of the basic
Foursquare house lent itself to being decorated with the features of
many other styles popular at the time.

General Characteristics:
• Simple floor plan
• Boxy, cubic shape
• Full width or off-set front porch with columnar supports and wide
stairs
• Offset front entry in an otherwise symmetrical facade
• Two to two-and-a-half stories
• Pyramidal, hipped roof, often with wide eaves
• Large central dormer
• Large single light windows in front, otherwise double hung
• Incorporated design elements from other contemporaneous styles,
but usually in simple applications
• Simple and restrained two-color and three-color paint schemes
highlighting body, trim and accents

Highland Park-Garvanza PP Ch1-Ch6.pdf (application/pdf Object)

Las Casas Realty Executive Offices

5713 York BlvdLos Angeles, CA 90042

(323) 254-2206

LasCasasRealty.com

Review LCR on Yelp!

Market for Vacation Homes Is on the Rise - WSJ.com

2011-01-24T10:16:00.000-08:00

By S. MITRA KALITA

Sales in many vacation communities across the U.S. soared last year to levels not seen since boom times, driven by deep discounts, cash purchases and buyers' rising stock portfolios.

On Mercer Island, Wash., waterfront sales nearly tripled in 2010, compared with a year earlier, reaching par with 2006 volume there. Sales on Hilton Head Island, S.C., rose 14% for the year. Palm Beach, Fla., experienced a 40% annual increase and a 54% increase in homes under contract, indicating an especially strong fourth quarter. Palm Beach sales volume now is comparable to its 2007 peak. These figures were gleaned by brokers in each locale.

"The proverbial train has left the station," said Ned Monell, an agent with Sotheby's International Realty in Palm Beach. "We haven't felt energy like this in a long time. Buyers sense that they've been on the sidelines long enough."

The question now is whether the momentum will last. The strength of second-home sales paints a stark contrast to the overall housing market, which is expected to worsen in 2011.

Existing-home sales in November rose 5.6% on an annualized basis, according to the National Association of Realtors, a trade and lobbying group. Last month, the Case-Shiller housing index of 20 cities showed prices across the U.S. fell in October, and most analysts predict another 5% to 10% slide in the coming year.

Data for the nationwide vacation-home market aren't tracked regularly. The National Association of Realtors conducts an annual survey of home buyers, but results for 2010 won't be out till March.

Yet the market for vacation homes, based on local sales data, appears to be booming. The comeback, NAR economist Lawrence Yun said, has been helped by gains in the stock market and an improving economy, which have made wealthier Americans more upbeat about the future. "It also implies that prices in some markets have come down so much that people are fighting for those properties," said Mr. Yun, noting that demand is strongest in areas close to stable labor markets.

According to the NAR, one in 10 real-estate transactions in 2009 was for the purchase of a vacation home. And though a small fraction of the overall market, it is significant because vacation homes are often big-ticket properties and attract discretionary buyers. Just four houses sold last year on Madeline Island, Wis., for example, but the island's average dwelling sells at two to three times the price of the county average, said Eric Kodner, a realty broker on the island.

Sales of second homes are showing an uptick even in more-affordable communities. In some locations, prices are even inching upward. Cape Cod sales climbed nearly 9% in 2010 from 2009, while prices rose 7%. Monroe County, Pa., in the heart of the Pocono Mountains, saw a 3% decline in transactions, but its Lake Naomi resort community was up nearly 15%. A one-acre plot off Lake Naomi recently fetched $1.1 million, a record deal for the area.

Still, in most markets where demand has improved, prices haven't. For Realtor Andy Twisdale in Hilton Head, S.C., it is too soon to rejoice; prices are down almost a third over the past five years. "People are buying at the very low end of the product," he said. "The financing is very difficult. Banks are requiring 25% down and crystal clean credit."

Buyers who qualify or can pay cash say this is the time to take the plunge. On New Year's Day, the Makarewicz family arrived in Pocono Pines, Pa., to look for a vacation home. They already own their primary residence in northern New Jersey and own a property in Damascus, a northeastern Pennsylvania town along the Delaware River. But the family says the latter doesn't offer enough things to do: Not enough shopping. Not enough activities for kids. Not even enough fish.

"How's the bass here?" Joe Makarewicz, a vice president for sales at a financial-services firm, asked Re/Max Realtor Rob Baxter as the two looked at floor plans.

The family plans to sell the Damascus house, which would allow them to pay cash for one near Lake Naomi. The resort community at Lake Naomi boasts pools, tennis courts, a recreation center and a golf course—and is equidistant from New York and Philadelphia.

Some second homes had been stuck on the market because sellers wouldn't budge on price; unlike owners of primary homes, they often aren't in a hurry to move.

"Sellers have become aware that they have to price their homes accordingly," said Harald Grant, a senior vice president at Sotheby's in New York's ritzy Hamptons region. "There's a perk in the market because a lot of prices have come down to where they should be."

This shift became clear to K. David Hirschey, who runs a consulting business in Minneapolis, as he hunted for a home on Madeline Island.

After competing in a summer swimming competition on the island, Mr. Hirschey decided to buy a home there, perhaps to rent it a few years and maybe retire there eventually. The first offer he made was rejected, he recalled, because the seller said, "We don't negotiate on properties here." The same thing happened with his bid on the next house.

Then he found a third property—four bedrooms, three baths—that began as a sale by owner, was taken off the market, then relisted under one broker, then another. It had been initially priced at $1.25 million, and remained on sale for two years.

"When I saw it, it was listed at $687,000," said Mr. Hirschey, a father of four children. He offered $530,000, furnishings included. "They wanted to negotiate and I said no," he said.

The tactic—an all-cash offer—worked, and Mr. Hirschey closed on the house in November, just in time for his family to spend the holidays there.

Market for Vacation Homes Is on the Rise - WSJ.com

Las Casas Realty Executive Offices

5713 York BlvdLos Angeles, CA 90042

(323) 254-2206

LasCasasRealty.com

Review LCR on Yelp!

Market for Vacation Homes Is on the Rise - WSJ.com

2011-01-24T10:14:00.000-08:00