First Time LA Home Buyer Real Estate Voice » Nick Segal

What I love most about Tarzana

Philippe Rodrigue — Fri, 30 Apr 2010 19:51:02 +0000

What I love the most about Tarzana is the combination of the open space with everything the community has to offer. In Tarzana you can avoid the crowds while also still enjoying the perks of living in a big city.

The outdoor activities are amazing, especially the hiking and mountain biking. Tarzana is just next to the Santa Monica Mountain Park, where you can hike on trails all the way to the beaches in Malibu. South of Ventura Blvd, you also have access to Braemar Country Club, which has 20 tennis courts and a 36-hole golf course.

Let’s not forget all the diverse restaurants available to you (parking is also easily found, unlike most of Los Angeles). One of my favorites is Vino Wine and Tapas Room, which has a relaxing lounge area and great energy, food and wine. They have happy hour on wine and tapas every day from 4-7pm; you can visit them online at www.vinowineroom.com.

One of my other top choices would be the French restaurant Le Sanglier. It is pricier but more elegant and worth every penny! The food is amazing and the service personal and attentive. You can check out their website at www.lesanglierrestaurant.com.

Additional tips for home buyers

Philippe Rodrigue — Thu, 29 Apr 2010 21:39:41 +0000

Whenever we come across new tips for home buyers, we like to post them for your expanding knowledge base. And whether this is your first home purchase or you’ve bought homes before, we can all use additional insights to better prepare us for the home buying process. Enjoy this latest batch of tips.

Clear your Mind to Create your Dreams

Philippe Rodrigue — Thu, 29 Apr 2010 21:21:10 +0000

In the world of organization towards enhanced productivity, I strongly recommend David Allen of The David Allen Company. The material outlined in his book, “Getting Things Done” can be a bit dry but if you are looking to stream line your work day and free up more energy to actually accomplish more, then Allen could be your man. He offers seminars (if the thought of reading a “how to” book doesn’t float your boat) that are really entertaining and dynamic. He’s funny too. Just think about it. If you are more productive, you make more $$$. More money in these times becomes even more valuable. With the extra time and cash, you may even want to consider buying a house. Just a thought….

10 Things to Do While Visiting, or Moving To Los Angeles

Philippe Rodrigue — Thu, 29 Apr 2010 19:57:38 +0000

So, what are some things to do in Los Angeles? Here is a brief list:

1. World Class Beaches.

2. Surfing.

3. Scuba Diving.

4. Boating.

5. World class shopping. Ever heard of Rodeo Drive?

6. Aerial tours.

7. Catalina Island. Other Channel Islands.

8. Drive to the Hollywood Sign. You can get almost close enough to touch it!

9. Visit the La Brea Tar Pits. Which are, Ironically, NOT in the City of La Brea. But you don’t want to touch them. Stinky!

10. Fine Dining. From French, to Italian, to Dim Sum, to Hot Dogs, Pizza, to Morroccan this City has any style of food you could want. And, yes, a good hot dog COULD be considered “fine dining”, while the Encino location of Mulberry Street Pizza is my favorite.

Keep your eyes on this post if you want to know more about staying busy while Visiting, or Moving To Los Angeles. These are only the first 10 things we thought of, and there are so many more.

Moving to, or Visiting Los Angeles

Philippe Rodrigue — Thu, 29 Apr 2010 19:20:21 +0000

I’m going to tell you the good things about Los Angeles, and the bad things about Los Angeles. The goal with this, is two fold. One is to educate you about Visiting, or Moving To Los Angeles, and the other is to be THE resource for you as you plan to Visit, or Move To Los Angeles. If we have left something out that you want to know more about, just let us know. Here goes.

First off, some background.

I have lived in Los Angeles, on and off, for the last 33 years. LA is more than a City. It is a sprawling World unto it’s own. The City of Los Angeles is HUGE. And it sits within the County of Los Angeles which is RIDICULOUSLY HUGE. The County of Los Angeles is the most populated, and diverse, in the country and if you want to drive from one end of the county to the other, pack a lunch, as it will be a long trip.

People who live in Los Angeles call themselves “Angelenos”, and do so with pride.

Los Angeles was originally named “El Pueblo de Nuestra Señora la Reina de los Ángeles de la Porciúncula (The Village of Our Lady, the Queen of the Angels of Porziuncola).

Angelenos suffer from what I call “Short Attention Span Theater“, so we just call it “L.A.”.

We are a city divided into regions that are either snobbish about their location (I live in …), or reverse-snobbish (I would NEVER live in …) about their location. But it is all in a good way, and we are all Angelenos at the end of the day.

For instance, the residents of Malibu do not act the same way that residents of Hollywood act (get it? Hollywood, ACT? Oh well…), about their city. But for people who have never been to LA, it seems natural to consider Malibu and Hollywood, as “Quintessential Los Angeles”. But they are worlds apart, even though only about 10 miles separates them. And I’ll do my best to explain to you why they are worlds apart.

First off, some parts of “Los Angeles” are their own City (Malibu, Santa Monica, Beverly Hills, Burbank, Glendale, Culver City to name just a few), and some are neighborhoods of the CITY of Los Angeles (Brentwood, Westwood, Holmby Hills, Encino, and Northridge-remember the earthquake?-, to name a few).

I guess there is no such thing as “The Perfect Place To Live”, so let me tell you up front about the downside to Moving To Los Angeles. I’ll take these points one at a time. And don’t worry, if you keep reading you will get to Earthquakes.

1. Let’s begin with…Traffic. We have about 12 million people living in the greater Los Angeles area. I think they all have at least one car, and they love to park them on the 405 Freeway (OK, they use ALL the freeways, and they only SEEM parked when in actuality they are moving very slowly). What can be done about this? Easy. Learn the shortcuts. Avoid rush hour. Plan accordingly. There are alternate routes. Oh, and relax and keep breathing.

2. Smog. We have smog. In the summer months it can become noticeable. But it is not as bad as legend makes it out to be and it was much worse 20 years ago, frankly. In the winter our air is usually clear, crisp and clean.

3. Heat. It gets hot here. After all, this is a desert that we have changed into a city. But the old cliche says it is a dry heat, and it usually is. Still, plan on sweating in July and August (August 2007 had 24 consecutive days OVER 100F in the San Fernando Valley!), and just tell yourself it is good for the pores of your skin. Our heat is still more bearable than Phoenix (another GREAT City!), and at least here you can go to the beach!

4. Fires. Los Angeles is surrounded by lots of wild spaces. And every year in the late summer, early fall, we end up with brush fires. These are usually driven by hot, dry winds that we call “Santa Anas” (the original term was “Satanas”, or Satan’s winds.) And sometimes they burn down homes. We just finished a series of fires (November 2008) that burned about 1,000 homes. It is imperative to keep the brush away from your homes if you live in an outlying area. The good news is that the Fire Department will remind you every year.

5. Mud Slides. We get mudslides AFTER the fires. See, what happens is the fire burns the plants that anchor the hillsides with their roots. So when it rains, the raw dirt hillsides turn to mud. The mud is no longer held in place by the plant roots, and this can cause Mud Slides. Mud Slides can cover roads, damage homes, and kill people. The small beach community of La Conchita (Between Ventura and Santa Barbara) had 10 fatalities in a large mud slide in 2005. It made international headlines.

6. Rain. Rain?!? Yes, rain. The song lied, and it actually DOES rain in Southern Cailfornia. We may go 10 months with almost NO rain, and then make up for it in the remaining 2 months. And every few years, we have what the TV folks call an “El Nino” year (pronounced Neenyo). It got this name from the time of year when it starts. Christmas time is the time of Christ’s birth, and in Spanish The Baby Jesus is called “El Nino”. El Nino is when the water temperature in the ocean rises. This leads to LOTS of rain. It is all very scientific. But during an El Nino, we can have an amazing amount of rain in a short time. Picture in your head, Noah and the Ark.

The rain causes Angelenos no end of grief, as their windshield wipers have dried out or become glued/melted to the windshield due to the heat of the past few months. This, in turn, creates a booming business in wiper blades, and a corresponding booming business in people watching, as it always fascinates Angelenos to watch other Angelenos standing in the pouring rain holding little strips of plastic and rubber, and staring at the sky with a “begging for help” look on their face . We love this. It appeals to our dark sided humor. Watching fellow Angelenos who have no clue how to attach the wiper blades, in the pouring rain, without a rain coat or an umbrella? Good fun.

The other problem with rain in Los Angeles, is that during the hot, dry, rain free months cars and trucks are dripping oil, gas, anti-freeze, grease and all sorts of slippery things onto our roads and freeways. When there is no rain to rinse it away, this grime builds up. Then, when it DOES rain, this grime turns into a slippery coating on top of the roads. As cars drive on the wet roads, they start to slip and slide on this invisible goo. If you don’t know how to drive on a wet, Los Angeles road you are in for a treat. Accidents go up about 6 fold after the rains start here. Drive slow and allow plenty of space to brake.

7. Earthquakes. Yes, I said it! We have earthquakes. And before you freak out about them let me share some perspective on them.

California is NOT the only place in the USA where big quakes strike.

In 1811 and 1812 a series of huge quakes struck the South East region of Missouri. These became known as the “New Madrid” quakes, named for the town of New Madrid. They were truly devestating, and were felt for hundreds of miles.

In 1964, the largest quake ever recorded in the United States struck in Alaska. This quake went on for OVER 5 MINUTES! (the 1994 Northridge quake was about a half a minute.)

Even New York City is at risk of earthquakes.

Earthquakes range in size from the tiny ones that nobody feels, to the massive ones that wreak havoc and make worldwide headlines. The tiny ones are common, and the massive ones are very rare, thank God.

The Northridge Quake of January 17, 1994 was one of the “Big Ones“. Angelenos give large quakes the catchy title of “The Big One”, both to describe a quake as “big”, and maybe to give the quake a label, thereby retaining some psychological power over it.

The good news is that our City has had so much experience with earthquakes, that our construction building codes reflect past construction limitations. We have LOTS of buildings that were built to survive earthquakes. Every time we have a quake, any buildings that were damaged get inspected for flaws. These observations are then used to correct the flaws in future construction. I was on the 18th floor of an office building during a quake once. The building swayed from side to side. One moment I saw the clouds and blue sky, the next I was staring at the tops of the cars in the parking lot below. Very trippy. But no damage to the building.

The bad news is that people still die in earthquakes. I lived through the 1994 Northridge Quake, while living in Northridge. An apartment complex (The Northridge Meadows) near my home suffered 16 fatalities when the upper floors collapsed onto the first floor. This building was not originally built to withstand a quake of this magnitude.

I also saw a neighborhood where a natural gas pipeline had ruptured and exploded, obliterating several homes. When I saw it, the flames were shooting about 100 feet into the air. It was truly horrifying. I also saw a medical building in Granada Hills where the top 2 or 3 floors had collapsed, pancaking onto the first floor. Due to the time of day (4:31AM on a legal holiday-Dr. Marting Luther King Jr Day), the building was unoccupied. But it was still a terrible sight.

Why am I telling you this in such graffic detail? Because it happened.

But do you know what else happened? Angelenos came together to help each other. I met neighbors of mine that I had only ever waved at before the quake. We had “tailgate parties” in my driveway. One neighbor brought hot dogs, another had buns and condiments. One had chips, and another brought water and sodas. I had two charcoal grills, several bags of charcoal briquettes, a box of Wheat Thins crackers and two orange trees full of fruit. I was REALLY glad to have my neighbors come over and grill in the driveway! Crackers and oranges only go so far! We shared more than food, we helped each other through a very hard time, and are all better for it. We even ran errands together, to help conserve gasoline, as we did not know if it would be a day, or a month before we could get more. It ended up being about 7-10 days. The aftermath of the 1994 Northridge Quake was one of Los Angeles’ finest hours, and I am proud to say “I was there”.

But you are asking yourselves, “How do we survive an earthquake?” By being prepared. Keep food, water, and essential supplies at home and in your car. Have a seismic has shutoff valve installed on the gas line into your home. Easy, simple things that would apply if you lived in tornado, hurricane, flood or avalanche country. I grew up in the midwest and tornadoes scare me far more than earthquakes ever have. Just have a plan, and always be ready.

9 easy steps that lead to your new home

Philippe Rodrigue — Thu, 29 Apr 2010 19:04:04 +0000

Regina Brown over at Active Rain just posted this really cool series of steps to assist you when leaning into your next home purchase. check it out here:

The revelations of rain

Philippe Rodrigue — Thu, 29 Apr 2010 18:47:51 +0000

With the recent heavy rains we are experiencing here in L.A., rain reveals many beautiful things. The skies become clearer, putting on display the picturesque, snow capped San Bernardino mountains, the air becomes cleaner and landscapes become greener.

And because we don’t get consistent rain throughout the year, rain can also show you whether or not your potential new home has a water tight roof and how well the drainage system works. If you are currently in escrow on a home, call your real estate agent and ask to get back inside your perspective new home right away to see if the roof has any leaks. If there are roof leaks, you have much more leverage to have the seller fix the roof or at least get a credit so it doesn’t become your problem once you own the house.

And while you are on site, we strongly suggest you walk around the perimeter of the home to see if there are any flooded areas on the grounds or underneath the foundation, if you are purchasing a raised foundation home. Rain reveals many flaws regarding drainage and other water related issues such as run off or even potential slope failure if the home you are buying is located in a hillside environment.

Even if you are beyond your contingency (protection) periods and set to close escrow, you still want to see how the house performs during and after a heavy rain. If you discover an issue that is glaring and that was not disclosed by the seller, either because the seller was not aware or chose not to make you aware, you have recourse that protects you from having to inherit problems and issues with the home.

Use this current opportunity to investigate your home to see how it’s doing. And drive safely getting there as we Angelenos are not always known for their “wet weather” driving.

Who drives the Real Estate recovery?

Philippe Rodrigue — Thu, 29 Apr 2010 18:37:26 +0000

New buyers to the market. Plain and simple.

Having been through a down turn in the market before, I saw for myself that the recovery came about when renters realized the cost of rent was almost the same as what they could buy a similar home for and these people got in the game.

Play it out for a second. Any renter that becomes a buyer and purchases a $400,000 condominium frees up that seller to turn around a buy a bigger place, say in the $700,000 range. That $700,000 seller now needs a bigger place and in turn buys a place at or over a million dollars. This kind of “trade up” market condition creates an increase in the volume of sales which then stabilizes prices. Stabilized pricing defines the bottom of the market and then we start to see property values go up from there because more people entering the market drive up prices, hence, a market recovery.

Until new buyers feel comfortable getting into the market, the market will stagnate and even continue to decline in values. So, why would you choose to enter into a market when every story you read in the paper promotes gloom and doom and every television news report glorifies the depressing news of how all markets are seemingly bottomless pits?

If you look at our First Time LA Home Buyer.com site under the “most commonly asked questions”, you’ll get a better understanding of the critical components as to when is the right time for you to enter the Real Estate market. Timing is a critical component and more important, it comes down to your need that drives you to lean into the prospect of purchasing a home. Ultimately, until your need and your capacity to buy a home come into alignment, you are probably not ready to roll up your sleeves and take the necessary steps you will need to take in order to run through the finish line of any home purchase.

The way things are going, sooner than later, the cost of renting is going to become similar to the cost of home ownership. Interest rates are going down and there are fantastic opportunities for new home buyers to take advantage of really low interest rates with even smaller initial down payments.

Candidly, the real estate market is still looking for a bottom for entry level buyers because we continue to see more foreclosures competing with desperate sellers trying to position themselves to get out of the market because they over extended themselves. The really good news right now is that if you are thinking about getting your first taste of home ownership, you have some time to get smart and learn how to read the bigger picture of what is going on and how you can maximize your opportunity. So be a sponge and observe what is going on. Keep reading my blog and I’ll do my best to make you smarter and ultimately ready to get in the game when you feel the timing is right.

For now, I think I have some explaining to do about what I was thinking when I wrote the “campy” YouTube videos about buying a home. What the heck is a “Fico” score anyway? Tune in tomorrow and I’ll invite you into my head as to what I was thinking and my attempt to create humor from different vantage points of the home buying experience. To be continued…

My Real Estate Renaissance

Philippe Rodrigue — Thu, 29 Apr 2010 18:21:08 +0000

Until about two months ago, I was living in the dark ages. My concept and application of the internet had been limited to checking emails and box scores for my fantasy basket ball team and looking at CNN.Com for the latest news and stock quotes. And then, most unsuspectingly as is always the case when we get blindsided, a wonderful friend and client of mine named Mark Werts (owner of American Rag on La Brea) invited me to attend a Captains of Industry lecture at USC. The guest speaker was Mark’s dear friend, Robert Hanson, who just happens to be President of Levi’s Strauss. Listening to Robert speak about marketing and how to fend off the intense competition for market share in the world of blue jeans, he presented some “gorilla” marketing ideas using YouTubes to get the attention of the audience he was trying to reach. The different clips illustrated scenes where the demographic intended audience could see young people groping over each other in comedic situations or guys jumping into pairs of blue jeans from a variety of vantage points simply to say, “cool people like this wear Levi’s”.

I watched how enthusiastic the USC students were after the presentation as they peppered Robert with questions about the how’s and why’s of his actions. I saw for myself that there was an entire world of communication and I was to that point, mute.

I started thinking about how my Real Estate team and I could incorporate this world into the field of Real Estate with the thought of making it, dare I say it, fun.

YouTubes, huh? Mini movies about whatever you want to present. And people actually watch them? Amazing.

And Blogging!!! Come again? You get to write whatever you want to talk about and people read them and comment on them and dialogs are started. Who does this stuff? Well, as I am coming to learn, huge amounts of people from all walks of life in every part of the world.

All I can say is that I am so thankful I have crawled out from my cave, squinting my eyes from the blinding light that serves a beacon to show me more of what’s out there. I am so thrilled to be a part of all this interaction. Now I have a platform to collect all my experiences and put them on display for my enjoyment and anybody else that shares a similar funny bone. At this point, all I can say is thank you to anybody who’s reading this and I hope you’ll stick around and share your thoughts as we explore this fantastic new world as one.

As for the First Time LA Home Buyer website we’ve created and the YouTubes we’ve produced as part of the project, I think that will be my second posting because I so love how the adventure unfolded, I want to share it and see if anybody out there has a point of view on any and all of it.

To more fun and joy along the way…

How You Are Protected When Buying Your Home

Philippe Rodrigue — Thu, 29 Apr 2010 18:04:38 +0000

1. The contract allows you to thoroughly inspect the property and be allowed “sole and absolute discretion” to approve or disapprove the condition of the property before you make your final commitment to purchase the property.

2. The seller must disclose everything they know to be wrong with the property and be bound to these disclosures for two years from the close of escrow.

3. If you can’t secure a loan under the terms and conditions that you define, you are not bound to buy the property.

4. The property must appraise at the agreed upon price between you and the seller. If it doesn’t, you are not bound to purchase the property.

5. If you cannot be delivered what is called “Free and Clear Title”, you are not bound to purchase the property.

These protections, known as “contingencies” are designed to afford each buyer a full and complete opportunity to make sure the property they wish to buy doesn’t come with unwanted surprises.
So, breathe easy. We’re here to protect you and we know how to do it.