STUDIO CITY Free Basic Bicycling Skills Training Workshop

STUDIO CITY

Free Basic Bicycling Skills Training Workshop

Bicyclists receive instruction on proper use of street lanes.

 

Sponsored by the Studio City Neighborhood Council, and presented by the Los Angeles County Bicycle Coalition, this 2-hour workshop provides you with basic information you can use to safely ride your bicycle on the streets of L.A. County. The workshop includes a booklet and materials you can take home. Topics include: Proper helmet fit, ABC Quick Check (checking your bicycle), Rules of the Road, Riding Visibly & Predictably, and Traffic Principles for Bicyclists.

The workshop takes place on Saturdays, from 10am to 12pm at  CBS Radford Studio Center, located at 4024 Radford Ave., Room MP 3, in Studio City. Please RSVP at www.lacbc.nationbuilder.com

Krekorian Opposes Weddington Complex in Studio City

By Business Journal Staff Thursday, February 19, 2015

Los Angeles City Councilman Paul Krekorian announced his formal opposition to a proposed senior condominium development at the Weddington Golf & Tennis complex in Studio City along the L.A. River.

Krekorian, who generally has opposed development along the river, said that he “will always do everything in my power” to ensure that the property remains “a precious and cherished part of our quality of life in Studio City,” in a statement released Wednesday night

“This is the largest privately-owned open space adjacent to the Los Angeles River, and it is a vitally important component of my long-term vision for revitalization of the river as an environmental, aesthetic and recreational resource for the San Fernando Valley,” said Krekorian, whose Second Council District encompasses Studio City and stretches of the river.

The Weddington family, the founding family of North Hollywood, opened the golf course in 1955. They have been unsuccessfully attempting to put a residential development on the 16-acre parcel since 2000.

The latest project, dubbed the Studio City Senior Living Center, would construct 200 senior condos on about a fourth of the 16-acre property at 4141 Whitsett Ave., demolishing the tennis courts and leaving the nine-hole golf course, driving range and clubhouse in place.

The non-profit Save L.A. River would like to convert much of the property into a park, but would have to raise about $80 million to purchase it.

The city’s planning department extended the normal comment period on the project, and the councilman’s official statement said, “the vast majority of public commenters” agreed with his opposition to the project.

Weddington family attorney Michael C. Murphy of Burbank and development consultant Tom Stemnock, president of Planning Associates Inc. of Studio City, did not return calls for comment.

Media Buildings in Burbank Now on Market

Three high-profile Burbank buildings with tenants that include Cartoon Network, Turner Broadcasting and MTV Networks have been put on the market for $90 million by their Beverly Hills owner.

Kennedy-Wilson Properties Ltd. is listing 303 N. Glenoaks Blvd., 333 N. Glenoaks Blvd. and 300 E. Magnolia Blvd. – which total 326,000 square feet within a single, 2-acre block, according to sources knowledgeable of the deal.

Kennedy-Wilson, a publicly traded property investor and manager with a global portfolio, acquired the buildings from Arden Realty Inc. in Los Angeles for $95.1 million in March 2008.

The portfolio consists of Burbank Executive Plaza at 300 E. Magnolia, with about 63,000 square feet; Glenoaks Plaza, a 180,000-square-foot building at 303 N. Glenoaks Blvd.; and 333 N. Glenoaks Blvd., with 84,000 square feet of office space.

Glenoaks Plaza is 87 percent leased to tenants that include Cartoon Network and Turner Broadcasting System Inc. Burbank Executive Plaza, is 95 percent leased, with MTV Networks as the major tenant. At 333 N. Glenoaks, 63 percent of the building is occupied.

Officials at Kennedy-Wilson did not return phone calls seeking comment.

But a broker familiar with the area said he has been told that the properties are on the market with CBRE Group in Los Angeles as the listing broker.

“These assets don’t fit (Kennedy-Wilson’s) business profile. They will be more appropriate in the hands of a yield buyer,” the broker said. “The buildings are well-leased with a variety of tenants. It’s a perfect REIT play.”

Los Angeles Business Journal

Freddie Mac: 2015 to Mark Best Year for Home Sales

DAILY REAL ESTATE NEWS | FRIDAY, MARCH 13, 2015

Freddie Mac economists are bullish on housing.

“This month kicks off spring home buying season,” says Len Kiefer, deputy chief economist at

Freddie Mac. “Between now and the end of June, we’ll see about 40 percent of all home sales

for the year.”

Spring Housing Market Outlook

REALTORS® More Confident for the Spring

Homebuilders Remain Cautiously Confident

It’s that optimism that has Freddie Mac forecasters expecting 2015 “to be the best year for

home sales and new home construction since 2007, when total home sales were about 5.8

million for the year,” according to their U.S. Economic and Housing Market Outlook for March.

An improving job market is driving young professionals, ages 25 to 34, back to the labor force.

The millennial age group now has 76.8 percent of its generation employed, as of last month, up

from 75.9 percent last year.

Freddie Mac economists predict that rents will continue to rise at or above inflation this year,

which will likely push more prospective buyers into home ownership. Rents rose 3.6 percent, on

average, in 2014, and are up nearly 11 percent over the last three years, according to Freddie

Mac’s report.

Meanwhile, Freddie Mac economists expect that the 30-year fixed-rate mortgage to rise slightly

this year to a 4 percent average. The 30-year fixed-rate mortgage averaged 3.86 percent this

week.

Source: “Freddie Mac March 2015 U.S. Economic and Housing Market Outlook,” Freddie Mac

(March 11, 2015)

A Seller’s Guide to Selling a Home

There are many reasons for selling your home. You might want to advance your career in a new location, move to a bigger place, downsize, retire, or go see the world. Whatever the reason, you want to get the best price with the least hassle. This article will give you tips on avoiding legal pitfalls while selling your house.

Using a Real Estate Agent

You always have the option of representing yourself in the sale of your own home. This is called FSBO (For Sale By Owner). There are special websites that can help you get listed so that buyers can find your property. If you want to be listed on the Multiple Listing Service (MLS), the listing service used by real estate agents, you might be able to pay a real estate agent to list your property there. You can also hire an agent to perform certain services for you instead of being your agent. A major disadvantage of this approach is that many agents won’t direct their clients toward a property where no agent fee is offered.

There’s no doubt that a good agent can save you time, trouble, and money. He or she may be able to get more for you, even after the agent fee (usually about 5-7%) is deducted from the purchase price. If you do use an agent, make sure you choose the right one. The agent should have experience, be familiar with the kind of property you are selling, and be familiar with the area where your home is located. He or she should also be someone you feel comfortable with. You can get recommendations for agents from people you trust who know or have used good agents. The agent fee may also be negotiable in a cold market (a buyers market). Make sure you are ready to sell. If the agent finds a buyer at a price you said was acceptable, you may owe the agent the commission, even if you change your mind and decide not to sell.

Using an Attorney

You do not have to use a lawyer to handle the transaction, but it is customary in some states to do so. You will want to consult an experienced real estate attorney if there are any legal questions connected to the sale of your property that you are unclear about. For example, what are you required to disclose about the property under your state’s laws? What should you do if there are problems with illegal construction, permit and zoning issues, or with the deed? Consulting with a knowledgeable real estate lawyer before problems arise can save you a lot of money and trouble in the long run.

Getting Ready to Sell

You can get more for your property, and sell it faster, if you take a little trouble to present it in the best possible way. This can include cleaning, painting, landscaping, and getting rid of rubbish. Some sellers go so far as to move all their things out and rent furniture to redecorate the house. People who do this for you are called stagers. They “stage” your house in preparation for the first open house. Real estate agents usually can recommend someone for this if it’s something you want to do. If you don’t want to go that far, things like flowering plants on the porch can add to the emotional appeal of the property.

It’s very important that you repair any potential safety hazards, like holes in the walkway or loose steps. This will improve the house’s value, but more importantly, it will protect you from lawsuits by preventing injury to visitors.

Your Asking Price

Though your agent can help you set an asking price, you should still always try to participate actively in the process. Your agent has an interest in getting the highest price, because she or he gets a percentage, but you may have an equal need to sell quickly. Make sure you protect yourself.

You can find out what other people are asking by attending open houses near your home, looking at the selling prices for comparable property in your area (properties with the same numbers of bedrooms and baths, similar square footage of both house and property, and amenities like fireplaces or swimming pools), and checking ads online and in the local classifieds. You also need to consider whether the market is a seller’s market (hot) or a buyer’s market (cold).

Making Disclosures

All sellers have to disclose some defects to a buyer, but the details of disclosure vary from state to state. California, for example, has broad requirements. Most states just require the seller to disclose a major physical defect that might affect the value, livability, or desirability of the property. If you don’t follow your state’s laws on disclosure, you might be guilty of fraud, so be careful. You don’t have to go out and hire an inspector to find out everything that’s wrong with the property, but you do need to tell what you know. If in doubt, disclose. In most states you have to use a specific form or put the disclosure in writing.

There are also federal laws requiring disclosure of information about lead paint in buildings built before 1978. See [link: http://portal.hud.gov/hudportal/HUD?src=/program_offices/healthy_homes/enforcement/disclosure] for details.

Dealing With Offers and Making Counteroffers

Once you receive an offer or more than one offer, your next step is to evaluate them for quality and select the best offer. In choosing the best offer, the highest purchase price offer isn’t the only thing to consider. You should also factor in the strength of the buyer’s financing and the contingencies the buyer wants. You can either accept or reject an offer or make a counteroffer. In your counteroffer you can revise the offer, the purchase price, contingencies (dependent on satisfactory inspections, on selling the buyer’s house, etc.), or the time for completing the purchase.

Accepting an offer in writing binds both you and the buyer to a legal contract on the terms of the offer. The buyer can do the same by accepting a counteroffer in writing. So make sure you are careful about what you put in writing.

House Inspections

Most buyers will require at least one inspection before the sales contract is finalized. If the inspection(s) shows serious problems, the buyer will most likely want to renegotiate the purchase price or ask you to pay for some or all repairs. See Buying a House: Why a Home Inspection Can Save You Money for more information about home inspections.

Closing

The final transfer of the property will take place once you’ve worked out all the details. The buyer has the right to take possession of the property on the closing date, so make sure you either vacate the property by that date or make arrangements with the buyer to stay longer.

Read more: http://real-estate-law.freeadvice.com/real-estate-law/buy_sell_a_home/seller-guide-to-selling-home.htm#ixzz3Ua7Jdp9J
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