Malibu City Council was informed this week that it is time for Malibu’s General Plan Housing Element to be updated and the document reviewed for state certification.

The state of California requires that the city update its housing element document every eight years. However, when the process is set in motion the subject of affordable housing always comes up.

Based on the current numbers the city must  accommodate 115 very low housing units, 73 low, 79 moderate and 174 above moderate income households through June 30, 2014.

However, that does not mean that the city has to built properties to meet the requirement in haste, but does have to show that it has created the zoning to accomodate the numbers.

The updated element must be certified by the state’s Housing Community Development agency. HCD reviews the update, makes comments and determines if it is consistent with state laws and accommodates the targeted number of units which total 441. Malibu’s Housing Element was adopted as part of the city’s General Plan in 1995 and has been amended twice and has not been certified by HCD or comprehensively updated since its adoption.

We will report back with any further updates

If you are interested in purchasing a property or selling a property in Malibu, Pacific Palisades or the surrounding Beverly Hills/southern California area then please contact Judy Kunisaki for professional real estate advice in the Westside Los Angeles area, on 310-317-8396 or via her online contact form on her website.

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Mortgage rates are low and applications and prices are up! – More excitingly here in the Southern California Mortgage Market is the great news that the number of Mortgage Defaults in California has dropped 24.3% over the last quarter!

The number of homes which enter the first state of foreclosure (defaulting on their mortgage) fell in the forth quarter. In 2009, 190,360 California homes were lost to foreclosure, down 19.42% from 2008, when foreclosures topped 236,000.  The decline in the default number is significant because any new wave of foreclosures, which could swamp the housing market’s recovery, would be preceded by a surge in defaults.The Obama administration’s $75-billion program to help troubled borrowers hold on to their homes appears to be keeping more California families out of foreclosure as thousands of California borrowers have had their mortgages modified through the “Making Home Affordable” program.

However there is a concern about those homeowners who are “underwater” – that is, owe more on their home than it is worth.Banks have been negotiating with distressed borrowers to keep them in their homes and increasingly turning to “short sales”.

Watch this space over the next few months and we will report back on what is occurring!

If you are interested in purchasing a property or selling a property in Malibu, Pacific Palisades or the surrounding Beverly Hills/southern California area then please contact Judy Kunisaki for professional real estate advice in the Westside Los Angeles area, on 310-317-8396 or via her online contact form on her website.

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30 year old Celebrity Kate Hudson has decided to not spend her summer in her Malibu home by renting her beach house off Malibu’s Broad Beach Road for a whopping $90,000 per month.

The star, daughter of Goldie Hawn has leased her Malibu Beach Mansion
from June through to September. The property was a gift from Goldie and is described as being kid friendly, having stunning features and also has private access to one of the best beaches in the area.

The property also offers a media/screening room, light filled office, three large bedroom suites including a master with ocean views and balcony. There is also a detached guest room and gym while the gardens are fully landscaped with outdoor fountains, furnishings and a large fire.

Malibu Beach Leases certainly are a great way to sample the Malibu lifestyle!

If you are interested in purchasing a property or selling a property in Malibu, Pacific Palisades or the surrounding Beverly Hills/southern California area then please contact Judy Kunisaki for professional real estate advice in the Westside Los Angeles area, on 310-317-8396 or via her online contact form on her website.

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Judy Kunisaki – CA DRE license 00963582

The time has come! The National Association of Realtors’ has announced that they have seen more and more buyers returning to the housing market to take advantage of the great selection of inventory available at record prices. “There has never been a better time to buy…Housing affordability is at an all-time high, mortgage rates are historically low, and interest rates are the lowest they’ve been since the days of Eisenhower” said NAR Chief Economist Lawrence Yun.

Historically high housing affordability and low mortgage interest rates, combined with buyer opportunities in the distressed sales market, have increased home sales in many areas of the country. In California for instance home sales are rising much faster than anticipated; some areas in the state are seeing a 70 to 80 percent increase in sales.

This could in part be attributed, not just to market conditions, but due to the that the Federal Housing Administration permitting its lenders to allow qualified home buyers to use the $8,000 tax credit as a downpayment as opposed to having them wait for the check to come from the IRS. In fact, many first-time buyers are attracted to deeply discounted and distressed home prices. Nationally, about 50% of all recent transactions have been distressed sales. 15-20% have been short sales and 30-35% have been foreclosures.

Lawrence Yun went on to comment that his projection for the real estate market was the following:

“home sales will be 10 to 20 percent higher the second half of this year than last year and we will come out of this recession in 2010.”

Being the leading Real Estate company in Malibu, rest assured that we will keep you informed through our blog. Subscribe to our blog using our RSS feed. (Click here!)

If you are interested in purchasing a property or selling a property in Malibu, Pacific Palisades or the surrounding Beverly Hills/southern California area then please contact Judy Kunisaki for professional real estate advice in the Westside Los Angeles area, on 310-317-8396 or via her online contact form on her website.

Many investors are rushing to take advantage of the great selection of inventory for sale in the Malibu California Real Estate Market, this of course means that there is demand for more mortgages and home loans.

Following the period of instability the National Association of Mortgage Brokers had campaigned with the National Association of Realtors for changes to the laws to protect consumers and real estate and mortgage professionals to ensure that stability would prevail.

The National Association of Mortgage Brokers has just released its new badge of approval – the Lending Integrity standard. This great new standard is a way for consumers to seek out a professional who, adheres to a strict code of ethics and has passed background checks as well as keeps up on continuing education requirements and is enabled to display this seal.

By creating the Lending Integrity Seal of Approval, the NAMB is helping self regulate its professionals to protect consumers and its members overall professionalizing the industry. NAMB’s excellent website helps explain more about the seal of approval as well as helping consumers understand more about the process of searching for a mortgage professional and getting a loan.

What is certain is that with so many buyers n the market looking to purchase a property right now, finding the right mortgage is key to the buying process. With the recent bailout packages from the Federal Government, rates are falling and capital is starting to flow into the markets ready for the next boom. Now really is the time to buy your slice of the American Dream in Malibu.

If you are interested in purchasing a property in Malibu, Pacific Palisades or the surrounding southern California area then please contact Judy Kunisaki for professional real estate advice in the Westside Los Angeles area, on 310-317-8396 or via her online contact form on her website.

Everybody these days is looking to be more green, however, how do you know if your home or projects you are doing to your home are green?

It seems like everybody is tooting green living and saving energy, you need to cut through the greenwashing and get down to the facts. Dispell the myths and understand more about the opportunity to save the planet as well as your wallet.

Being green in Real Estate is important as it is expected that 21% of the United States greenhouse gas emissions are from our homes. The California Association of Realtors has launches a new Green Website to answer all the frequently asked questions and educate consumers on green real estate.

The website: http://green.car.org explains it all! Many think that true green homes are unique or look different to others in the neighborhood, recent developers are showing how a green home may create 50-90% less waste or be more energy efficient and easier on your wallet through fetures such as solar power.

Also, teaching you how to green up your home before selling! – From the simple: changing light bulbs to energy efficient ones or the more labor intensive: changing the sink faucets to low flow models.

There is mine of information to read. With many homes in Malibu being green it is no wonder than many are looking at great ways to lessen their impact on the environment.

If you are interested in purchasing a property in Malibu,  Pacific Palisades or the surrounding southern California area then please contact Judy Kunisaki for professional real estate advice in the Westside Los Angeles area, on 310-317-8396 or via her online contact form on her website.

The holiday season is almost here! Which means that the Pacific Palisades Junior Womens Club is starting its annual signature event again. The Home Sweet Home Tours, where tours of distinct local homes can be had.

On Sunday the opportunity to tour three distinctive historic homes was undertaken. Donations and monies raised are all donated to good causes and over the years the Club has supported many local charities and organizations including the Palisades Recreation Center, Palisades branch library, and the Palisades/Malibu YMCA. Tickets are available by visiting www.ppjwc.com

Of the three properties visited there was a range of styles, from Spanish to New England, and even Old England! The romance of the spanish riviera is encapsulated in 15527 Via De Las Olas, where there are vaulted ceilings, gorgeous tilework as well as antique wood doors.

New England’s charm is represented in 530 Toyopa Drive in a fresh, clean white and black look. Light pools in the six bedroom property taking advantage of its leafy setting.

930 Kawaga Street is bringing up the Old World England theme with authenticly created suits of armour, stained oak wood flooring as well as a traditional brick and mortar fireplace.

Anyone who thought Southern Californian real estate was dull should think again! These three properties show what variety there is available. 

If you are interested in purchasing a property in Pacific Palisades or the surrounding Malibu California area then please contact Judy Kunisaki for professional real estate advice in the Westside Los Angeles area, on 310-317-8396 or via her online contact form on her website.

Well known Pop Artist (of the art world, not music!) Ed Ruscha has listed his Malibu home for a cool $7.15 million.

The artist, who is up there with Andy Warhol and Roy Lichtenstein owns other properties in LA and does not need his large six bedroom home in Point Dune with a decent spread of just under 3000 square feet of living space which is now on the market. The property has Point Dume private beach access rights and if $7.15 million seems a little steep for you, you can lease the home for a reasonable $14,500 a month.

The property has a stunning pool, private gardens with several patios and the home is currently arranged as a three bedroom main residence and two guest houses. It really is designed for outdoor living in the fabulous Malibu climate.

If you are interested in purchasing a property in Malibu, Beverly Hills or the surrounding Westside LA region then please contact Judy Kunisaki on 310-317-8396 or email Judy on judy@judysellswestside.com

No X-Files jokes please! Actor David Duchovny and Tea Leoni are selling their Malibu Mansion for a cool $12 million. The property is a grand affair with five bedrooms and 4 bathrooms spread across over 6500 square feet.

The property features two pools as well as sweeping canyon and of course, the obligatory Pacific Ocean views. This old country style estate is set on 5.5 acres and apart from the main house a seperate 2 room guest house and private gym!

Although it is not clear from public records when exactly the couple purchased the home, the main house appears to have been built in the french style in 1996 and is located off Carbon Mesa Road. The area itself is popular with celebrities due to its private setting. Ed Harris, Sean Penn & Kenny Chesney (although he is listing his home for sale) all own property here!

If you are considering purchasing a home in Malibu or are you interested in this particular home? Then please contact Judy Kunisaki on 310-317-8396.

 Story Reported by the Real Estalker on the Real Estalker Blog.

Frank Sinatra Jr, the son of the late great music legend is no stranger to southern California real estate.

Having bought and sold many homes in the westside area in the past decade he has recently acquired a new home in Beverly Hills Post Office.

The threee story home was purchased by Sinatra for $4.1 million and has6 bedrooms &  7.5 bathrooms across just over 7000 square feet.

The property features a pool and spa as well as an outdoor fireplace on the patio! The property of course has a three car garage and a media room in addition to the usual living areas.

If you, like Frank Sinatra Jr. are considering a property in the Beverly Hills Post Office area or perhaps Malibu, Topanga or Pacific Palisades, please contact Judy Kunisaki on 310-317-8396 today for professional real estate advice.