Archive for June, 2010
New Modern Beach Residences Now Open in Marina Del Rey
June 30th, 2010 Categories: Buying a Home
Los Angeles-based SunBrook Partners announce Valerie Fitzgerald as the exclusive sales agent for their new beach community development Latitude 33 which opened officially on Wednesday, June 16.Located in Marina Del Rey at 330 Washington Blvd, Latitude 33 is a collection of 122 homes three blocks from Venice Pier starting in the low $600s. The community is made up of luxury condominiums, town-homes and high-rise flats. The top three floors of the building are exclusively penthouse units.
“This is a long awaited debut for this amazing and culturally-expanding community,” says Valerie Fitzgerald. “This project offers contemporary beach living with traditional Southern California lifestyle.”
A modern beach-inspired community combining Los Angeles’ high-style attitude with the unique and eclectic flavors of the locale, Latitude 33 offers flats and townhomes in three distinctive yet complementary lifestyle collections: the SKY Collection, BOARDWALK Collection and BEACH Collection. Latitude 33 combines an inviting atmosphere with a unique coastal backdrop, perfect for enjoying the ultimate California lifestyle.
A West Los Angeles veteran representing high-profile new construction projects, Fitzgerald knows what it takes to promote and sell high-end real estate developments from the construction phase to roll out. Fitzgerald most recently oversaw sales at The Carlyle Residences (The Elad Group of New York’s Plaza Hotel), a 24-story, 76-unit tower rising on the Wilshire Corridor. In 2005 she lead sales at The Century, as well as at The Hollywood in 2009.
Latitude 33 offers residences ranging $600,000 to $2,400,000. Residences include designer-selected wood flooring in entry and throughout main living areas dramatic floor-to-ceiling windows and private balconies with glass rails. Kitchens have modern Italian cabinetry featuring clean lines of Bon Tempi or Gato design, elegant granite countertops, professional quality Wolf stainless steel built in appliances, Sub Zero refrigerators and wine coolers, Grohe stainless steel faucets and Kohler stainless steel sinks.
Valerie Fitzgerald has more than 20 years real estate experience and one of Coldwell Banker’s top producers nationwide. She was recently named one of The Wall Street Journal’s top agents and is president of The Valerie Fitzgerald Group in Beverly Hills, CA. Author of Heart and Sold: How to Survive and Build a Recession-Proof Business (Simon and Schuster), and is a regular contributor to real estate trade publications. For more information, visit: http://valeriefitzgerald.com.
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U.S. Home Prices Rose a Better Than Expected 3.8% in April
June 29th, 2010 Categories: Real Estate Tools
Conditions in the U.S. housing sector improved a bit more than expected in April, as home prices in 20 major cities rose 3.8% on a year-over-year basis, according to the S&P/Case-Shiller U.S. National Home Price survey. They rose 2.4% year-over-year in March.
Home prices in the 20-city index also rose 0.8% from March to April — the first month-to-month increase in half a year, Case-Shiller said.
Economists surveyed by Bloomberg had expected home prices to rise 3.5% in April on a year-over-year basis.
Meanwhile, the S&P/Case Shiller 10-city index rose 4.6%, on a year-over-year basis, and 0.7% from March to April.
David M. Blitzer, chairman of the Index Committee at Standard & Poor’s, said that although the April data indicated improvement in the housing sector, the gains were enhanced by the expiration of the home buyer tax credit in April, and were not as broad-based as one could wish for.
Gains Were Concentrated in California
“Home price levels remain close to the April 2009 lows set by the S&P/Case Shiller 10- and 20-City Composite series. The April 2010 data for all 20 MSAs [metropolitan statistical areas] and the two composites do show some improvement with higher annual increases than in March’s report. However, many of the gains are modest and somewhat concentrated in California,” Blitzer said, in a statement. “Moreover, nine of the 20 cities reached new lows at some time since the beginning of this year. The month-over-month figures were driven by the end of the federal home buyer tax credit program on April 30.”
Year-over-year percentage price changes in some major U.S. cities included: New York, down 1%, Chicago, down 1.6%, Boston, up 4.9%, Washington, D.C., up 7.3%, Atlanta, up 0.2%, Tampa, down 2.4%, Miami, down 0.5%, Dallas, up 3.3%, Denver, up 4.4%, Los Angeles, up 7.8%, San Francisco, up 18%, and Seattle, down 2.8%.
Overall, April’s home price report represents only a small victory for the U.S. housing sector. The 3.8% year-over-year gain and the 0.8% rise in April are positive developments, but economists generally agree that the now-lapsed home buyer tax credit likely boosted sales and prices. If demand is not strong enough to support prices without the support of the tax credit program, home prices could retrench in May or June.
For now, the modestly positive numbers in April report are a signal that the negative wealth effect may be dissipating — but it will take two or three more months of data before economists and real estate agents can predict whether the U.S. housing sector will continue to recover.
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10 Ways to Make Your House Worth More
June 18th, 2010 Categories: Real Estate Tools
Kendra Todd, host of My House Is Worth What?, tells you how to set your home apart and get the maximum price for your property.
Liven Up the Landscaping
Not only does good landscaping give you the highest return on your money, but it also can literally transform the exterior look and feel of your home. Hire a landscaper to do the job, or do it yourself for some old-fashioned sweat equity. Either way, be sure to turn your front yard into a colorful, floral oasis.
Enhance Your Exterior Entryway
Make your front door the centerpiece of your home’s curb appeal. Repaint it a striking, tasteful color, or sand it down and stain it for an antique, weathered look. Finish the look with updated lights, potted plants on either side of the door and a new, high-end knocker and handle.
Have a Welcoming Walkway
The front walkway is essential to drawing the buyer in the door, so it’s got to pop. You’ll get points with buyers for installing a high-end material such as brick pavers. If your pathway is curved, accentuate the movement by lining it with lights or flowering plants.
Freshen the Foyer
What do people see first when they enter your home? Consider that the foyer is the first impression of your home’s interior, so make sure it doesn’t block the line of sight to any marketable rooms or views. Remove bulky furniture, paint it a neutral color, upgrade the lighting, and have fun with things like high-end entry tile or even marble flooring.
Light It Up Right
The right lighting can make a small home appear larger or a dark home seem sunny and cheery. The wrong lighting can make your home feel dark and dreary. Installing brighter, modern light fixtures not only highlights your home’s best features, but the right style of fixtures can also create a more current look.
Neutralize With Paint
Paint color is a personal choice, and potential buyers will probably want to customize it for themselves when they move in, but that’s no reason not to paint when selling. You are out to showcase your home in its best light, right? Don’t fall into the “white or beige” trap, but also avoid rich, dark colors as those don’t appeal to everyone. Think about richer colors with wider appeal, and don’t forget to focus on the details: window and door trim, baseboards and crown molding.
Update Fixtures, Hardware
Avoid major kitchen and bathroom overhauls if you are ready to sell. Instead, highlight the existing good features by tackling small tasks such as updating the lighting and installing new faucets, nozzles, mirrors and cabinet doorknobs. You’ll be surprised how big an impression these small, relatively inexpensive updates will make.
Repaint Cabinets
Replacing or even refinishing cabinets can be costly and therefore risky if you dump a ton of money into your place right before you sell. A quicker and less expensive way to recoup your costs and still modernize your home is to repaint the cabinets. It’s incredible to see how a coat of paint can transform the entire look of your kitchen or bath.
Don’t Forget the Flooring
Flooring has one of the most dramatic effects on the size and appeal of your home, and you get a great boost in value if you choose the right materials. If you have worn, stained carpet or vinyl flooring, rip it up quickly and replace it with tasteful tile, wood laminate, or, if your market allows, nice hardwood floors.
Create a Backyard Oasis
What do buyer’s see when they walk out back? A vacant slab of concrete? A rarely used covered pool? Transform your backyard into an entertaining space, so the buyer can visualize all the good times they’ll have out there with neighbors and family. Buy some inexpensive patio furniture, a grill and some potted plants to fill extra space and tie it all together. Install some outdoor lighting as the finishing touch. By the time you’re done, you’ll wonder why you didn’t do it sooner.
Valerie Fitzgerald specializes in luxury residential real estate in Beverly Hills, Bel Air, Brentwood, Santa Monica and Malibu. Valerie has more than 20 years of real estate experience and is known for her solid reputation in the West Los Angeles brokerage community. She’s also the author of the book published by Simon and Schuster Heart and Sold: How to Survive and Build a Recession-Proof Business.
Search Luxury Homes in Los Angeles at Valerie Fitzgerald Real Estate Listings
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Valerie Fitzgerald Discusses Tips for Achieving Success in This Economy
June 3rd, 2010 Categories: Video Posts
In an interview with Better TV, Valerie talks about the importance in finding creative solutions to business and personal challenges.
“When you start being creative things start transforming in your business, personal and physical worlds and the process gets you on the right path,” says Valerie.
Three Tips for Achieving Success in This Economy…
1. Be Consistent.
2. Prioritize Your Lists.
3. Organize and Create Support Systems.
For more tips on how to reinvent your life check out Valerie’s book Heart and Sold: How to Survive and Build a Recession-Proof Business at Amazon.com.
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The State Of The World’s Real Estate Markets
June 1st, 2010 Categories: Buying a Home
In an interview on The Creating Wealth Show, Matthew Montagu-Pollock, the head of Global Property Guide, discussed his observations of the current state of the world’s real estate markets. From Australia to South America, he outlines what investors should be paying attention to in order to formulate smart investment strategies. From www.nuwireinvestor.com.
Australia and New Zealand Real Estate
Matthew launches this guided investment tour in Australia and New Zealand where favorable lending rates have helped markets buck the latest downward trend. Unfortunately, rates suppressed in the interest of economic recovery inevitably rise, and prices haven’t fallen far enough to warrant “a happy investor strategy.” As with much of the world’s property market, Matthew recommends delaying entry 3 – 4 years. The longer, slower cycles that distinguish real estate from the stock market ’s sharp swings provide time to exercise caution instead of a headlong rush.
Developing vs. Developed Markets
Mortgage financing is a relatively recent concept in much of the world, where historically inaccessible lending has kept prices low. The notion that developed markets are inherently less risky was disproved with the latest collapse. In fact, developing markets often offer greater opportunity, including high rental yields which are a key indicator of opportunity for appreciation.
Asia Real Estate Markets
Prospects for investors in Asia are as diverse as the region itself. The more structurally sound markets are on the verge of a bubble. Authorities in Hong Kong and Singapore are ready to clamp down on lending and raise interest rates. Unfettered construction and soaring prices have left China’s market in danger of over-heating while the drop in gross rental yields from 10% to less than half that is a troubling sign. In contrast, Japanese officials are restricting development; rental yields are just average, and the stagnant market is nearly impenetrable to foreign investors. In Asia’s developing markets, political instability is disquieting to investors, especially in Thailand. The 12% rental return in Indonesia and the Philippines is deceptive because taxes erode up to a quarter of investments. Overall, Asian market policies favor landlords, while Australia is neutral.
Eastern Europe Real Estate
Patience is the best investment strategy for Russia and Eastern Europe, where the collapse of Baltic states has led to price declines of 60%. Matthew advises waiting 5 years at minimum to allow time for economic stability to be restored, despite the lure of bargain property. The outlook for Hungary and Poland is more promising, with rental yields at 8% and 6% respectively. The forecast for the rest of Europe is more dismal. Because the strength of real estate is inextricably tied to the broader economy, investors should rule out Ireland, Spain and Italy where GDP growth is abysmal. Germany and Belgium can’t be recommended because foreign investors bear a heavy tax burden, while prices in the UK are peaking and favorable interest rates won’t last forever.
Middle East Real Estate
Dubai’s collapse has put it in the spotlight, but investors should have been forewarned by a precipitous drop in rental yields two years earlier. Elsewhere in the Middle East, political instability detracts from price appreciation in Jordan and Lebanon. Cairo in Egypt is an example of why Matthew is bullish on capital cities since they furnish a pool of expatriate tenants. Exotic Morocco and tranquil Tunisia also possess potential.
South America Real Estate
South America holds promise for investment, especially in Uruguay and Brazil. Rent returns in Sao Paolo are 7%, and the Brazilian government has set a course for growth. Despite its reputation, Colombia shines with its rich history, and rent returns are favorable in Lima, Peru.
North America Real Estate
The guided investment tour ends in North America, which Matthew predicts will be ripe for investment within 18 months since this market has nearly cycled through the latest crisis. Although Canada wasn’t impacted as severely as the US, its pro-tenant policies are a deterrent to investing.
Matthew ends the interview with encouragement for investors, praising real estate as a source of security in confusing financial times, providing a tangible asset and steady income especially for investors who adopt a hands-on approach.
This article is based on Episode 166 of Jason Hartman’s Creating Wealth Show. You can listen to the full podcast at JasonHartman.com, a real estate investment and wealth creation site.
Valerie Fitzgerald specializes in luxury residential real estate in Beverly Hills, Bel Air, Brentwood, Santa Monica and Malibu. Valerie has more than 20 years of real estate experience and is known for her solid reputation in the West Los Angeles brokerage community. She’s also the author of the book published by Simon and Schuster Heart and Sold: How to Survive and Build a Recession-Proof Business.
Buy or Sell You Luxury Homes in Westside Los Angeles at Valerie Fitzgerald Real Estate Listings
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