‘Gossip Girl’ producer Levy buys in Hollywood Hills area – Los Angeles Times

“Gossip Girl” executive producer Bob Levy has purchased a Hollywood Hills-area home for $1,005,000.

There are two bedrooms and 2 1/2 bathrooms in about 1,620 square feet. The listing described the house as a “modern reinterpretation” of the 1965 design by L.A.-based architect Chet Callahan. Sliding glass doors off the living, kitchen and dining areas open to terrace views of Hollywood, downtown L.A. and the Griffith Observatory.

The two-story house previously sold for $759,000 in 2004.

Levy was the vice president of prime-time series at NBC before joining Alloy Entertainment in 2001, where he is an executive producer of all of the firm’s television projects, including “Gossip Girl” (2007-present), “The Vampire Diaries” (2009) and “Samurai Girl” (2008).

The listing agent was Crystal Heatherly of Deasy/Penner&Partners, Beverly Hills. Konstantine Valissarakos of Sotheby’s International Realty, Los Feliz, represented the buyer.

‘Gossip Girl’ producer Levy buys in Hollywood Hills area – Los Angeles Times

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$100 million new CA home tax credit nearly gone

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$100 million new home tax credit nearly gone

The Franchise Tax Board (FTB) recently announced that the $100 million allocated by the state in new home tax credits will soon be gone. The FTB has received more than 9,800 applications, claiming nearly $95 million as of June 17, and plans to accept 12,000 applications to allow for duplicates, revisions, or invalid applications.

This tax credit is available for qualified buyers who, on or after March 1, 2009, and before March 1, 2010, purchase a qualified principal residence that has never been occupied. The buyer must reside in the new home for a minimum of two years immediately following the purchase date. To apply, an application for new home credit must be completed by the buyer and seller within one week after the close of escrow and faxed by the escrow person to the FTB at (916) 845-9754.

The FTB will continue to report the certificates issued on a weekly basis until the full $100 million has been allocated. FTB expects to complete processing all certificates in August. Each applicant will receive a notification indicating the amount of credit allocated or denied.

Requirements of the credit

* The home must be a “qualified principal residence” as defined under California Revenue and Taxation Code Section 17059(b)(1). The home must:
o Be a single-family residence, whether detached or attached.
o Never have been previously occupied.
o Be occupied by the taxpayer for a minimum of two years.
o Be eligible for the property tax homeowner’s exemption under California Revenue and Taxation Code Section 218.
* For over three successive taxable years, the total credit allocated among owners that occupy the home must not exceed $10,000. (Multiple qualified buyers that occupy the home will be allocated credit based on the amount paid and their percentage of ownership.)
* Any credit that reduced tax on a tax return must be repaid if the buyer does not occupy the home for at least two years immediately following the purchase date.
* FTB may request documentation to ensure buyers have complied with the requirements of the credit.

Contact FTB

Phone:

* 888.792.4900 (press 5)
* 916.845.4900 (not toll-free)

Email: wscs.gen@ftb.ca.gov
This is not a secure email address. Please do not send confidential information.

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Credit for Early Termination and FREE Curve if switch from ATT or Verizon to SPRINT Nextel

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In Los Angeles I use and fully endorse SPRINT Nextel and exclusively for my T-mobile and AT&T readers that switch to SPRINT Nextel my buddy Jeff can get you:

• A FREE Blackberry Curve this JUNE!

•Any reader porting from T-mobile will get a $200 credit!
2 year contract required. Other porting credits avail on a case by case basis especially for medium sized and larger companies.

•Any reader porting from AT&T or Verizon gets a $100 porting over credit with a free 1st month of SPRINT Nextel service.
2 year contract required. Other porting credits avail on a case by case basis especially for medium sized and larger companies.

*On average SPRINT Nextel customers save $980 annually over AT&T and Verizon.

SPRINT Nextel Simply Everything $99 VS. AT&T equivalent for $174 monthly
SPRINT Nextel Simply Everything $99 VS. T-Mobile’s $139 monthly
SPRINT Nextel Simply Everything $99 VS. Verizon’s $164 monthly

How? Contact SPRINT Nextel Senior Account Executive jeff.t.feldman@sprint.com

Make sure your mention that Carlo or Visionary Realty News (VRN) referred you for Jeff’s full attention and service!

And if you have existing SPRINT Nextel Service for use with the Prē or want to Accessorize or buy your Palm Prē product no matter what service you have then do so with my full recommendation at the official Palm Store.

The Patio Del Moro – For Lease in West Hollywood’s North Harper Avenue Historic District #realestate

Open Houses set for Sundays & Tuesdays

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• Patio Del Moro: (1 of 2 avail. apts.) The Charlie Chaplin Apartment at 8235 Fountain Avenue:

MLS#: 09-375805

With its unique layout which includes multiple entrances and exits this unit would serve Chaplin’s needs to visit his then mistress Paulette Goddard who occupied the adjoining also two story apartments. This completely restored and fully furnished apartment boasts not only three bedrooms but a private patio with tile enhanced fountain, a living room, and fire place with plaster relief reaching to the vaulted ceilings with hand painted beams. The secondary bedroom has a Moroccan arched veranda overlooking the living room and rear patio below with daybed. The two secondary rooms have cedar closets with storage, while the master bedroom is fitted with a full walk in closet. Above the bathroom is the attic / loft with a picture window facing out on to the Hollywood Hills. No expense has been spared to make this unit charming, comfortable, private, and cozy all with silently running hidden and seamless modern amenities (remote control Mitsubishi Mr. Slims). The moment you walk in, you never want to leave. Images of Charlie’s

8235 Fountain AvenueWest Hollywood, CA Apartment $4,450/month 8235 Fountain Avenue Bedrooms 3 Bathrooms 1.0 Sq Footage 1,200 Parking 2 dedicated Pets Inquire Deposit $8,900 view detailed listing

• Patio Del Moro: (2 of 2 avail. apts.) The Paulette Goddard Apartment at 8237 Fountain Avenue:

MLS#: 09-375827

Paulette Goddard’s apartment adjoins lover Chaplin’s & is restored unfurnished with a private fountain in its courtyard, overseen by second story bedrooms. Dining room boasts a period dinette with four upholstered chairs. Picnic table under grapevines. Storage. Salon with gas fireplace. Hardwood floors & carpets throughout. Moroccan arched portals & ornamentation abound. Stairs. Juliet Balcony overlooks salon and one bedroom. Other bedroom has french door-ed balcony with Cherub sconces. Western light. Nothing spared to be comfy, cozy with silent hidden modern amenities (remote control Mitsubishi Mr. Slims). 30’s Moorish elegance. Images of Paulette’s.

8237 Fountain Avenue West Hollywood, CA Apartment $4,450/month 8237 Fountain Avenue Bedrooms 2 Bathrooms 1.5 Sq Footage 1,200 Parking 2 dedicated Pets Inquire Deposit $8,900 view detailed listing

We also have PDM listed with these Online Search Engines:

The History of Patio Del Moro

The historic Patio Del Moro (PDM) has two units vacant for your exploration: 8235 and 8237 Fountain Avenue. PDM is featured in numerous books like: Courtyard Housing in Los Angeles by Stefanos Polyzoides, Roger Sherwood, James Tice, & Julius Shulman, Red Tile Style by Arrol Gellner & Douglas Keister, Courtyards: Intimate Outdoor Spaces by Douglas Keister, Los Angeles: An Architectural Guide by Robert Winter & David Gebhard, Los Angeles Attractions by Borislav Stanic, Moth and Flame: A Benjamin Justice Novel (Benjamin Justice Novels) by John Morgan Wilson, Insight City Guide Los Angeles (Insight Guides) by Brian Bell, The Architecture of Entertainment: LA in the Twenties by Robert Winter & Alex Vertikoff and is of course listed in the National Register of Historic Places listings in Los Angeles County, California. One couldn’t be better placed, nor in better company than amongst its playful fountains, sunlight catching banana leaves, topiaries, mosaics, finishes, wrought iron railings, statues, benches, tiled steps leading to balconies, all in the shade of a minaret capped tower.

One of the best ways to show your support of the work of preservationists in the North Harper Historic District is to become a fan. And of course an even better way is to show your patronage by becoming a good tenant of buildings like PDM.

#Tuition and Housing: As the next high school graduating class gets ready for #college

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As the next high school graduating class gets ready for college, tuition has never been a more important issue because of today’s tough economy. If you’re looking for ways to offset tuition for your kids, private scholarships are still available that don’t require perfect grades, a musical genius, or a great 3-point shot.

For example, www.FastWeb.com lists more than 1.5 million scholarships worth more than $3.4 billion, matching opportunities to your child’s unique profile. It’s important to note that you should never pay any application fees for scholarships.

Begin your search with your child’s guidance counselor. The financial-aid representative at the schools you’re applying to can also lead to you to other legitimate scholarship opportunities. And for a list of schools and universities in L.A. county with tips about student housing then click here.

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#College bound family members considering Southern California’s Universities?

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As your college bound family members may be considering Southern California‘s Universities, Please allow me the opportunity to answer any questions they may have about the area and its property offerings as college campuses have on-campus housing shortages for incoming Freshmen.

Give the gift of ownership. If you haven’t yet considered it, on graduation day wouldn’t it be nice to discuss renting or selling your graduate’s housing that’s appreciated from the bottom of this market?

Or give the gift of stability with a four year lease. What could be better than locking in a four year rental agreement giving far better leverage to you in negotiating terms providing peace of mind to your Freshman student? Keep them focused and avoid costly moves and anxieties.

Use my complimentary MLS Market Snapshot to peruse the market and choose options that we can talk about. Together we can find your college or university student a safer more secure and appreciating place to live with great terms now near any of these SOCAL colleges or universities:

* Otis College of Art and Design, Los Angeles
* Pacific Oaks College, Pasadena
* Pepperdine University, Malibu
* University of California, Los Angeles
* University of Southern California, Los Angeles
* Art Center College of Design, Pasadena
* Fashion Institute of Design & Merchandising, Los Angeles
* Loyola Marymount University, Los Angeles
* Southern California Institute of Architecture, Los Angeles
* California State University, Long Beach
* Woodbury University – Burbank
* Mount St. Mary’s College, Los Angeles
* California State University, Los Angeles
* California State University, Northridge
* California Baptist University, Riverside
* California Institute of Technology, Pasadena
* California Lutheran University, Thousand Oaks
* National University, Sherman Oaks
* California National University, Northridge
* Whittier College, Los Angeles
* Charles R. Drew University of Medicine and Science, Los Angeles
* American Jewish University, Los Angeles
* Claremont Colleges, Claremont

o Claremont McKenna College, Claremont
o Harvey Mudd College, Claremont
o Pitzer College, Claremont
o Pomona College, Claremont
o Scripps College, Claremont

Rental Properties

 

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A Break in The Clouds – The U.S. Realty Market

Quit buying the media’s sensationalistic bad news because there’s a break in the clouds for a limited time only. Anyone taking advantage of this fact will have bragging rights in their new homes at BBQs for years to come.

Here’s four reasons why to buy and even sell if you have to:

First, The real estate “bubble” is now gone. Home prices have already corrected completely, retreating from their irrational bubble levels back to their consistent historical and increasing average line of approx 4% annually. Real estate is priced correctly more everyday. The sell-off that’s most likely still to come will be over-selling, and prices will correct back up to the aforementioned moving average when the economy improves as the recession ends over roughly the next three to five years. Not much room for flipping homes for investors but more certainty for new buyers looking for a measured rate of return who see the merit of living in their investment particularly as stocks, commodities futures like ETFs and bonds fall prey to bearish psychology and government backroom deal making.

Second, we are currently enjoying a perfect opportunity in the real estate market as usually there is an inverse relationship between home prices and mortgage rates (high prices accompanying low rates, or low prices with high rates). Usually a buyer has only two options, either paying too much for their home in a seller’s market or paying too high a mortgage rate in a buyer’s market. This relationship between price and interest rate determines affordability. 2009 is an aberration, with both home prices and their interest rates are low at the same time. As a result, housing is very affordable right now, making 2009 the best buying opportunity we’ve seen since the ’70s and the best we’ll see until rates creep up. Nearly two-thirds of current sales are first-time home buyers. For anyone looking to get into the market for the first time, right now is your chance while housing is affordable. There will not be a better buying opportunity than this year for the duration of the Obama Administration particularly with all the regulation it proposes to permanently correct the behavioral human error that contributed to this aberration along with its already implemented first time home buyer tax incentives and relinquished moratorium on foreclosures from November 08′ to March 31st of this year urging such correction. There is even a push for innovative programs like Rent-to-own programs, in which a portion of rent goes toward a down payment, which are also are being revived in some communities with too many foreclosed homes. Expect rates to creep up folks. The opportunity gap is closing. The government wants to stimulate the economy through the housing market so that as consumers are encouraged to borrow more money then banks may tap demand and raise their rates ahead of that demand to make profits again so they can start paying back their TARP funds.

Third, today’s historically low interest rates offer a refinancing opportunity. If you are currently paying more than 5%, give us a call. I can size up your situation and get you into a lower monthly payment with minimal effort on your part with the largest and most consolidated player in the market emerging after May 1st: Bank Of America’s Countrywide. And If you have investments or cash of 500k or more, then I have a banker for you offering even better competitive rates and floaters.

Fourth, if you’re thinking of selling, you have an opportunity right now to get your home listed and sold while prices are firmed up and buying activity is strong and encouraged. We’re coming into the optimal selling season, Spring and Summer, and the bulk of your would-be competition (bank REOs) are on hold until approx the Fall since, “Fannie Mae said in a brief statement from spokesman Brian Faith that ‘Fannie Mae’s suspension of foreclosure-related evictions concludes as of March 31, 2009. The company has in place special foreclosure sale requirements that take into account the Making Home Affordable program. A foreclosure sale may not occur on any Fannie Mae loan until the loan servicer verifies that the borrower is ineligible for a Home Affordable Modification and all other foreclosure prevention alternatives have been exhausted.'” If you plan to keep your property for years, call us for a refinance as stated above instead. But if you’re thinking of selling any time in the next year or two, you would do well to list your property right now. I’ll help you make the most of this window of opportunity and get your property sold before the banks are allowed to process foreclosures again.

Remember to Invest with Vision!

 

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