Questions arise when people are considering leaping into real estate and one which arises is buying an affordable home versus saving up for a dream home, especially in Malibu, CA. It can be a daunting process when shopping for a first home, realizing what you can afford as opposed to what you would like to afford. The questions ultimately arises whether it is a smart move to buy a home that you don’t want to live in forever.  The old adage — “location, location, location” – is an important factor too.  Home prices in Malibu, CA have come down to levels not seen since 2004 so it is a great time to buy.

Home ownership offers some benefits that are not available with renting. Two main benefits of homeownership are building equity and having the ability to deduct mortgage interest and property taxes from federal and state income taxes. It is possible to buy a “starter home” and move up in time. Rarely due people purchase a first home and stay in it for a lifetime.

Buying a first home allows a homeowner to build equity, with the ability to sell the first home for a greater value down the road. If you wait until you have saved enough money it is hard to say what the affordability will be. Will waiting make buying your dream home possible 2 years from now, 5 years from now, 15 years from now? In that time how much money in rent will you have spent.

There hasn’t been a better time to buy a home in a very long time, if ever. Home prices are most likely at bottom, mortgage rates have been hovering at historical lows and tax incentives make buying a home feasible for many. If it makes sense for you financially it could be an ideal time to buy a first home, paving the way for purchasing your dream home later.  Find out what you can afford by getting a pre-approval with a good mortgage broker then give Judy Kunisaki a call to find out what is available in that price range.

If you are seriously interested in purchasing or leasing and want an “over the top” experience in  Malibu, Pacific Palisades, Calabasas 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 her online contact form on her website.

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Malibu, California Beach

Summer is fast approaching – time to make plans!  Malibu, California offers many choices for a summer lease – depending on the budget.  As of April 7, 2010, there are currently 42 summer leases available at Malibu, California.  These are all completely furnished – all you need is your toothbrush!

Malibu, California is 27 miles long – so prices range depending on location and size of home.  Direct beach front single family home lease price range from $25,000 per month to $130,000 per month.  Single family homes with beach rights summer prices range from $8,500 per month to $49,000 per month.  Some homes require a minimum of two or three month commitment.

Town homes/Condominium unit beach side lease price will range for the summer from $3,000 per month to $25,000 per month.  Each Landlord has a say whether it is a pet friendly place or not – so it is important to tell your agent about your family pets.

In most instances, the Tenants are responsible for their own utilities.  If that is the case, then the utility costs will be deducted from the security deposit –Landlord must provide documentation for any amount withheld from the security deposit.  In some instances, it might be included in the lease – each lease is unique.

The required security deposit is equivalent to three months of the lease rate on furnished homes. If it is an unfurnished unit, then it is equivalent to two months of the lease rate.  Also excellent credit is an absolute must — after all, these summer leases are fully furnished!

Security deposits are due at the beginning of the lease.  At the end of the lease, the security deposit is returned by the end of twenty one days by the Landlord with documentation for any amount withheld.  If anything should go wrong, let the Landlord know immediately.

If you are intrigued but a bit overwhelmed by the security deposit requirement, then you might consider a pleasant alternative – staying at the Villa Malibu.  It is close to the beach, shopping and restaurants. The security deposits are $2,500 for a fully furnished unit.  Summer leases are priced from $8,000 a month for a two bedroom unit or from $10,000 a month for a three bedroom unit.  Be sure to mention that your realtor, Judy Kunisaki sent you to Villa Malibu!

If you are interested in leasing or 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 her online contact form on her website.

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Happy Halloween!

Halloween is that great time of year where kids and adults come together and have fun, fun, fun!

Here in Malibu with a great climate and stunning properties and outdoors environment, it is no wonder that there are plenty of events going on!

In fact, we already had a few days back, celebrations kick off early, with the free Halloween Surf Contest! The contest consisted of a one hour paddle out, Halloween costume, surfing expression session. A great chance for surfers to let their hair down and take the waves and sport less seriously.

Tonight we have the Halloween Haunt in Malibu Bluffs Park, Children can participate in a variety of activities including: carnival games, tattoo parlor, moon bounce, crafts, costume parade and the NEW Trick or Treat Street! There will also be food vendors who will be selling hot dogs, kettle corn and Shave It Ice. Best of all, the event is free!

Naturally people will also be celebrating the day with their own private parties and barbecues. Whatever you and yours get up to, be safe on this fun day and have a spooktacular time!

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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Actress Diane Keaton is selling her luxurious Beverly Hills home for a cool $11.995 Million.

The property sits on an enviable lot and was constructed in 1927. Keaton is known for buying and refurbishing LA Real Estate. This property was restored by architect Ralph Flewelling.

The home contains an inner courtyard with stylish fountain as well as  seven bedrooms and nine bathrooms in 7,145 square feet. The master suite has dual bathrooms. There is a separate guest suite. The home has a pool, and the yard has pathways lined with olive trees.

The courtyard separates the media room, den and staircase to upstairs from the kitchen and family room. This is certainly a home not to be missed as it oozes Spanish colonial charm.

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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.

April is the National Association of Realtors Fair Housing month which is now in 2009, in its 41st year and commemorates the passing of the Fair Housing Act in 1968.

The National Association of Realtors is committed to ensuring that there is equal access to housing an in its strict code of ethics article 10 is written with the Fair Housing Act in mind.

What does the law actually say? Well in short – the following:

Fair Housing Act (1968) - The Fair Housing Act declares a national policy of fair housing throughout the United States. This law makes illegal any discrimination in the sale, lease or rental of housing, or making housing otherwise unavailable, because of race, color, religion, sex, handicap, familial status, or national origin.

NAR guidelines are strict and by using a Realtor you can be sure that they are following these guidelines to ensure that all have access to housing.

If you would like to know more about what is going on locally for Fair Housing Month contact your local Realtor. If you are in the Malibu, California, area then contact Judy Kunisaki and her team in Malibu for more information.

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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.

According to the National Association of Realtors existing home sales in February went up countering January’s losses.

Although, the spike in sales is still slower than it could be as people are waiting for the full effects of the Obama Administration’s Stimulus plans to come into play.

Home sales rose 5.1% to a seasonally adjusted annual rate of 4.72 million units in February from a pace of 4.49 million units in January.

Lawrence Yun, NAR chief economist, said first-time buyers accounted for half of all home sales last month, with activity concentrated in lower price ranges. “Because entry level buyers are shopping for bargains, distressed sales accounted for 40 to 45 percent of transactions in February,” he said. “Our analysis shows that distressed homes typically are selling for 20 percent less than the normal market price.”

This is exciting news showing that properties are selling and first time buyers are returning to the market. This national trend, Yun goes on to say, is lead by the boost in home sales in California.  Where, the median home price is starting to rise for the first time in three years! Also the number of buyers looking at properties increased last month at 5% over the previous period as well as 5% over last year!

We will post more on this story when we hear it. Things are definitely looking up for 2009!

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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.

There certainly is a lot going on in the world of Real Estate right now. Here in Malibu, California, it is no different!

Current market conditions are always changing and in this case, changing for the good!

The U.S. Commerce Department is reporting that housing starts gained for the first time in 8 months. The gain was 22.2 percent. This was the first increase since June.

CNNMoney reports that new construction (single family) was up as well in January. With new construction of buildings with 5 or more units increased surged 80% to 212,000 from 118,000. This is fantastic news!

However, also the details of the Obama Loan Modification eligibility criteria have been released. Here is just a few morsels of information on it:

• Mortgage must have originated on or before January 1, 2009.
• Home must be an owner-occupied primary residence
• Home must be a single family 1-4 unit property
• Home may not be vacant or condemned.
• Borrowers in bankruptcy are not automatically excluded from consideration.
• Borrowers in active litigation regarding the mortgage loan can qualify for a modification without waiving their legal rights.
• First lien loans must have an unpaid principal balance (prior to capitalization of arrearages) equal to or less than:
  • 1 Unit: $729,750
  • 2 Units: $934,200
  • 3 Units: $1,129,250
  • 4 Units: $1,403,400

• Foreclosure actions are suspended during the trial period or while borrowers are considered for alternative foreclosure prevention options. If homeowners fail to qualify, foreclosure proceedings may resume.
• No minimum or maximum LTV ratio for eligibility purposes.
• Loans are eligible for only one loan modification under the program.

This is definitely exciting news on what is some of the most awaited legislation to come out of the Obama administration. Applicants will be accepted into the program until December 31, 2012 and we are hoping that more details will be released at a later date.

Watch this space! – Keep checking back with us for more updates on this and other real estate news. 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.

History was made today when President Barack Obama signed into law the 2009 American Recovery and Reinvestment Act which was passed by Congress on February 13th.

This comprehensive bill aims to stimulate America’s economy for the future. The $780 billion bill is made up of tax cuts, mostly for 2009 and spending programs in 2009 and 2010. Tax cuts make up approximately 35% of the bill.

Naturally there are some provisions for housing programs which we will detail here! After all, we are focused on what effects this will have on the Real Estate market both nationally and locally here in Malibu.

There is the very much welcomes modification of the Homebuyer Tax Credit which is for a home purchased between January 1st 2009 and December 31st 2009 worth $8000 to the purchaser. The requirement to repay has been eliminated and if any portion of the credit is unused when claimed on the personal tax return of the purchaser, then the purchaser will receive the difference by way of a check! This is great news!

Also, FHA, Fannie and Freddie loan limts will remain the same as 2008 limits – this was agreed with the provision for the HUD Secretary to make small emergency provisions on small local areas if needed.

Additionally $2 billion has been made available for Neighborhood Stabilization programs where communities decimated by foreclosures can purchase those homes and then make them livable and use them to assist individuals looking for a home in that area who earn below 120% of the areas income level.

In a housing related theme the bill also made provisions for investment in transport and infrastructure for communities to ensure America remains the front runner in having a mobile, educated and technology based population.

Here in Malibu, like most communities it will take some time for the Bill’s effects to come into play. Its passage into law will be watched with interest by all.

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.

Great news! The National Association of Realtors has announced that there has been an increase to home sales in December driven by sales from the western US!

Inventory is falling dramatically! Total inventory for the nation at the end of December fell 11.7% to 3.68 million existing homes available for sale, which represents a 9.3-month supply at the current sales pace, down from a 11.2-month supply in November. This is great news!

The increase in home sales  – including single-family, townhomes, condominiums etc – jumped 6.5% to a seasonally adjusted annual rate of 4.74 million units in December 2008 from a downwardly revised pace of 4.45 million units in November 2008. In fact, existing-home sales in the West jumped 13.6% to an annual rate of 1.25 million in December and are 31.6% higher than a year ago.

The increase in activity is obvious, housing affordability is at its best level since 1973. Rates are also at historic lows and if first time homebuyers have stable jobs and a long term housing plan they can really take advantage of the market. The luxury and custom end of the market, such as here in Malibu is holding up and there is a great turnover of property as people are taking advantage of the homes listed for sale.

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.

It is that time of year again! Christmas is upon us! Asides from the festivities and the business at the malls and the stores it is a time for giving to friends and family. Forget the commercial side of Christmas and focus on what is important.

Here in Malibu the chance of a white Christmas may not be there, the sun may shine but Christmas is still in the hearts of its residents. With all the months of preparation people are finally getting some time to relax and enjoy the season. They can now spend time with their families and friends and enjoy that Christmas Ham or Turkey!

So, from Judy Kunisaki and the team here in Malibu, California, we wish you a very Merry Christmas!

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.