Mortgage and Rental Payment Relief Updates - COVID-19 - Los Angeles

In conjunction with the “Safer at Home” emergency order there needed to be some protection for property owners and renters. In the present environment many are unable to generate an income. The first city action was to protect tenants from being evicted based on the emergency order. The city is allowing tenants to defer payments for up to 6 months after the end of the emergency period.

Below are form links to help define and facilitate these changes.

NOTICE RE: NON-PAYMENT DUE TO COVID-19 (Notice to Renter of Rights Regarding Non-Payment Due to COVID-10)

NOTICE RE: NON-PAYMENT DUE TO COVID-19 (Tenant Provided Prior Notification to Landlord of Non-Payment Due to COVID-19)

Receipt for Partial Rent Payment (COVID-19 Eviction Moratorium)

In addition, here is a link to the housing department guidelines:
HCIDLA (Housing and Community Investment Department of Los Angeles) - COVID-19 EVICTION MORATORIUM

The next step still being worked on is to see if landlords and homeowners will be granted a deferment of their payments with the knowledge they would be taking in less income based on the above emergency action. The director of FHFA (Federal Housing Finance Agency) recently explained the new Mortgage Assistance Program. This program affects all mortgages guaranteed by Fannie Mae, Freddie Mac, FHA and most of all conforming loans. Some of the large banks have followed suit with their non-conforming portfolio loans as well. To look up your loan go to the links below. In each case you will need to contact your servicer (who may or may not be your lien holder) and navigate their process.

Fannie Mae loan look up: https://www.knowyouroptions.com/loanlookup
Freddie Mac loan look up: https://ww3.freddiemac.com/loanlookup/

We will continue to reach out with useful resources to help you navigate these tough times.
Be safe.

20-second Survey - Help Us Help You - Connecting More

We are not ones to predict the market. However, you may have read recent stories in the media concerning a shifting market. These stories cite a combination of rising interest rates, tight inventory, a decrease in sales, homes staying on the market longer, and buyer fatigue.

No matter what, there is always your personal market. Where are you on the spectrum of buying and selling? How can we help? In our effort to help we have made a short 20-second survey - 

https://urbanhillsides.com/helping-people

Would you please fill it out? It will help us understand you better and perhaps help you now or later. Thanks!

Always feel free to call us for more discussion about this market and how it may or may not affect you. 323-489-6810

We want to connect more with not only you, but your network of friends, family and associates that may need our help.
How to do it? This video explains it briefly and puts it in perspective:

Holiday Dancin' Darren and Joe at Urban Hillsides 2017

Good thing we're better real estate agents than dancers.

Darren Hubert is Old School Echo Park - Proof Positive

On a recent walk for the real estate business I realized just how old school Echo Park my partner Darren Hubert really is. Proof positive at Coronado and Elsinore etched into the sidewalk in front of his old house. I like the Madness song "Our House" reference there at 13 years old in 1983. Sweet.

Mid-Century Encino Home with Pool

5176 Gloria Ave, Encino
$1,075,00

Renovated Encino pool home with an open floor plan. Situated on a flag lot, off of the main street, this mid-century home has been recently updated with modern accents. Entertainer's dream lower level with great indoor/outdoor flow, open design concept, fireplace, large kitchen island, and a half bath. Cool and shaded for summer fun. Just outside the French doors is a large covered patio and a lush green backyard. Upstairs master suite is fully loaded with a walk-in closet, double door entry, soaking tub and open European shower concept. The additional three bedrooms, plus a full bath, finish off the top floor. Close proximity to Ventura Blvd. shopping, freeway access and award winning Hesby Oaks Leadership School.

• Year built: 1962
• Living space:  2,092
• Lot:  9,844
• Bedrooms: 4
• Bathrooms: 3
• Listing Price: $1,075,00

Mid-century Mountain Lodge in Idyllwild

25460 Shadow Oaks Dr., Idyllwild
$380,000 

Discover your artist's retreat 100 yards away from the national park where you can enjoy spectacular views, mountain biking, hiking, and tranquility. This is truly a unique setting to relax, create, and recharge. Inside, enjoy a large, mid-century styled 3 bedroom, 2 1/4 bath with a beautiful, wood beam living room, rock fireplace, and cathedral windows. Finishing the common space is a family room and central eat-in kitchen. A basement gives you another bedroom or workshop area with laundry and additional storage space. Dine and relax in a screened porch room for even more indoor/outdoor living. The home can accommodate 10 people comfortably. Outside, park and protect your car in the 2 car garage, have the kids play in the boulder garden in the back, and barbecue on the patio near the kitchen. 5 minutes drive from the town of Idyllwild. Presently being used as an Airbnb.com/short-term rental income property. Have your vacation retreat and pay some of the mortgage with the rental income.

• Year built: 1968
• Living space:  2,268
• Lot:  10,454 sq ft
• Bedrooms: 3 plus bonus room
• Bathrooms: 2.25
• AC/Heat: Central, fireplace, stoves, electric
• Outdoor areas: Enclosed porch, back patio and yard
• Listing Price: $380,000

Market Report for Northeast Los Angeles

MarketReport_4-2-15

Today we're taking a look at real estate trends in Northeast Los Angeles, which includes the zip codes of 90026,90039,90041,90042,90065,90031. Here are the highlights:

• New listings are on the rise as we move into the spring selling season.
• Pending sales are keeping up to maintain a low inventory level.
• Sold listings tapered off in February but picked right back up in March.
• Steady level on price reductions - there are always those sellers that just ask more than the market will bear.

It's a great time to sell - contact us for a complimentary market evaluation of your home!