Lofts For Sale – For those who prefer to own their own destiny in Downtown, feel the pride and reap the rewards of home ownership, such as growing equity and return on investment in the most exciting place on earth.
Some of the most amazing industrial live/work lofts are not on the internet. These pocket listings and other unlisted lofts are often the very best deals. Get a free list of off-market lofts and condos for sale. Fill out the online form:
There are always many ways to minimize the difficulties of legal problems, and fortunately, there are also ways to find the positive side and take advantage of Downtown L.A. real estate opportunities that are created by legal issues such as lawsuits, litigation and probate.
When a loved one has passed away, sometimes they did not create a living trust or will that are required to avoid probate court. When these important legal tools are lacking, a probate court judge must make decisions about the deceased person’s real estate sale before any potential heirs or debtors can be taken care of. #probate #california #losangeles
This is not legal advice. This article presents some of the basic terms and basics regarding real estate probate in California, based on one real estate agent’s limited understanding.
A trustee is usually the person who creates a trust. A successor trustee is commonly the inheriting offspring of the dead trustee. Most siblings cannot even agree on where to get dinner, so when a probate sale is required, it is usually best to choose one person to represent all heirs so that there is no squabbling about all of the details.
When a parent dies and the offspring cannot be easily found, the probate court must use heir hunters, which finds heirs and gets to keep up to 45% of their inherited money for all of the trouble of locating them.
When there are no will and no trust, then there usually needs to be a grant deed and probate. Only real estate owned by a trust can escape the delays and high costs of probate.
There are two types of authority: Most prevalent is full authority (Only when someone passes away). Ninety percent of probates are full authority.
Other factors can create the need for probate, such as medical incapacitation, dementia and Alzheimer’s disease. A conservatorship is done in probate court also. A conservatorship is an example of limited authority.
Full authority is more flexible as there is no need for judge approval to sell. Instead of taking on average 9.5 months, full authority can sometimes reduce the process down to as few as 2.5 months to close escrow.
With limited authority, there is a case in court.
There is not need for court when the property owner obtains a trust and will ahead of time. A trust is a contract. A living trust says that if the property owner becomes incapacitated, a judge does not need to tell who to appoint as the conservator to take care of the incapacitated person’s affairs. The trust document appoints the conservator.
If the deceased person had no estate planning package and no trust, then nobody knows which inheriting child to put in charge, so family membesr will need go to court to request to be conservator, and then a judge will hold a hearing to determine capacity and who to give the conservatorship to.
A Notice of Proposed Action must be issued when dealing with the sale of real property in a probate. The notice must be writing and sent to all interested persons, heirs, beneficiaries, anyone or any entity requesting information on the probate proceeding.
Trust documents (all 5 are required): Trust – either revocable or irrevocable (most are revocable because things change) Durable Power of Attorney – needed for when trustee has dementia etc only given to someone who is very trustworthy to have access to the incapacitated person’s bank, government dealings etc.
Advance Healthcare Directive – Give legal permission so that one or two authorized persons may access medical records and deal with doctors. A Pour-Over will eliminates need for clear intent to put items in trust. A pour-over will is a testamentary device wherein the writer of a will creates a trust, while decrees in the will that the property in his or her estate at the time of his or her death shall be distributed to the Trustee of the trust.
Trust Transfer Teed – Allows the property owner to grant the home they own to a grantee without an opportunity for the deed to be considered.
There are many other details that need to be considered and taken care of in a probate sale. These include decisions on how to take title, how inheritances are taken, tax laws such as capital gains, minimizing delays, legal authority, starting the probate process, probate selling process, multiple offers, deposit requirements, over-bidding process, appraisal requirements, valuation and sub-trusts.
Legal issues such as probate sales, lawsuits and litigation can often reduce prices and create other exciting deals for home buyers and investors.
Get free information on legal issues including current and recent litigation and lawsuits involving Downtown Los Angeles loft and condo buildings. Fill out the online form:
For Downtown Los Angeles Condominiums, safety and convenience are always concerns. Many home buyers find that a security staff is a necessity for them to feel safe, secure and protected. Here is a list of loft and condominium buildings in DTLA with 24-hour security staff: #dtla #security
As tax laws have changed at the beginning of this year, the L.A. Loft Blog presents this article to help homeowners, buyers and sellers to gain a basic understanding of the changes, and to minimize any drawbacks while taking full advantage of the financial benefits of the new rules. While different items such as exemptions and deductions have gone up or down for various people, this post will focus on taxes that relate to L.A., CA real estate. For Downtown LA, owners of historic lofts continue to receive financial benefits through the Mills Act property tax law. #taxreform #taxes #2018
Taxes depend on several factors such as whether the homeowners are single or married, and whether they meet several IRS rules. The first $250,000 of profit is usually tax free for single ($500,000 for married). Several factors may be taken into consideration such as property improvements and expenses. If it is not the property owners primary residence, they might be able to do a 1031 exchange when selling and buying a similar property. #millsact
Contact a tax professional, such as a CPA Miklos Ringbauer, or there are also some highly rated Downtown real estate tax professionals such as:
Pinnacle Tax Services – Tax Services, Accountants, Financial Advising
520 S Grand Ave, Los Angeles, CA 90071 (877) 224-0217
Buchalter – Bankruptcy Law, Real Estate Law, Tax Law
1000 Wilshire Blvd, Los Angeles, CA 90017 (213) 891-0700
Mills Act Tax Benefits
It sounds almost too good to be true to get paid to live in an artistic landmark and architectural masterpiece. But it is a fact. Many DTLA homeowners report savings of several thousand dollars per year off of their property taxes thanks to their amazing old building. For helping to maintain the original look and character of the structure, homeowners have been getting up to 2/3 off of annual property taxes.
In addition to the amazing uplifting character of high ceilings and unique details, the Mills Act provides a great financial advantage for buyers and owners of approved historic loft condominium units, some of the most beautiful buildings in Downtown Los Angeles.
Get a free list of Mills Act properties. Fill out the online form:
When it comes to Downtown Los Angeles, the uniqueness of commercial and industrial conversions brings awesomeness and stylish character that ordinary homes cannot deliver. Because they are different, there is definitely a right way, a wrong way — and then there is the loft way. #dtla #lofts #subway
Live/work lofts are basically just large empty boxes that are waiting for someone to add their personal touches such as furniture, decor and love. Because they built for permanent heavy duty use, and approved for live-work under the City of Los Angeles Adaptive Re-Use Ordinance, DTLA lofts are ready for just about anything that a creative mind needs for enjoying life and productivity. When it comes to furnishing a loft, there is no right way, and no wrong way. The loft way provides for the fullest range of possibilities.
Take SB Grand Building for instance with its Metro subway station entrance right next door, it makes for profits and posh lifestyles as the historic structure efficiency combines with rapidly increasing community amenities such as Pershing Square, in addition to the countless walkable shops, bars, restaurants and entertainment venues to provide endless possibilities for the richest urban lifestyle with every form of fast and efficient transportation.
Get a free list of New Lofts for live and work in Downtown Los Angeles. Get on the New Lofts Interest List. Fill out the online form:
Stop by 11 AM to 4 PM, or call Corey to request a later time.
Enjoy Downtown life in a spacious historic open floor plan. Modern open loft with fantastic NYC-like character on Broadway and Historic Core. Private balcony facing original brick courtyard. Modern kitchen with stainless steel appliances. Wood floors. Washer and dryer in unit. Large soaking bath tub. Open and airy living space with high ceilings, A/C and heat. Excellent downtown location near Farmers Market, Grand Central market. Minutes to Whole Foods, Ralph’s and great shopping and dining. The building features 24-hr security front desk concierge, rooftop sun deck, swimming pool and hot tub spa with panoramic views of the Downtown Los Angeles skyline, fitness room gym. Wired for cable and Internet. Low HOA dues. Pets okay. Great for Downtown live/work! Parking in building available. By Metro station, Pershing Square concerts in Summer and ice skating Winter. Stroll through the renaissance of Broadway, with coming street car as part of the Bringing Back Broadway project. This is the lowest price per square foot on a spacious Downtown L.A. loft. Corey (213) 880-9910.
The best deals can be hard to find. Many prospective Downtown home buyers are not aware that the best buys are not on the internet, and not listed on the MLS. These unlisted lofts and condos are called pocket listings or off-market homes. Sometimes up to half of the best deals are purchased privately and not on the market.
Get a free list of off-market properties in Downtown Los Angeles. Fill out the online form:
FLASH FLOODING AND MUD AND DEBRIS FLOWS POSSIBLE FOR RECENT
BURN AREAS OF SOUTHWESTERN CALIFORNIA FROM THIS AFTERNOON THROUGH TUESDAY EVENING… #losangeles #weather #rain #flashflood
.The flash flood watch has been expanded to include much of
southeastern Santa Barbara county…all of Ventura County and all
of L.A. county except the Antelope valley…not just the burn
A cold front will interact with a plume of subtropical moisture
and will bring a period of moderate to heavy rainfall to the
region. Behind the front, scattered showers and isolated
thunderstorms will continue through Tuesday evening. Rainfall
rates in excess of one half to an inch per hour are possible
during the peak of the storm. This storm has the potential to
create flash flooding across the area. Especially vulnerable will
be the areas in and around the recent burn areas where dangerous mud
and debris flows will be possible.
…FLASH FLOOD WATCH REMAINS IN EFFECT FROM THIS EVENING THROUGH
The Flash Flood Watch continues for
* All of Los Angeles county except for the Antelope valley
including all of the burn areas.
* From this evening through Tuesday evening
* Rainfall rates between one half inch to one inch will be
possible with this storm system.
* There is a strong potential for flash flooding and mud and
debris flow in and around these burn areas.
New Lofts Downtown — L.A. Loft Blog’s Downtown L.A. Free Help Line
New Townhomes Los Angeles #dtla –
For immediate assistance with your Downtown LA home search, call us at (213) 880-9910 mobile/text. #newhomes
You can also email us at email@example.com
The authority on Downtown Los Angeles residential real estate, the L.A. Loft Blog is helping thousands to find the most amazing lofts for the least amount of money!
DTLA Real Estate Tips and Tricks
The secret to success in one of the world’s most competitive real estate markets is finding out what the smartest Downtown home buyers are thinking so that we can know exactly where to look and what to do to beat out the other buyers to the best deals. Here are today’s favorite topics chosen by readers of the L.A. Loft Blog: #losangeles
2018 New construction town homes offer a great deal on the latest design and technology. Enjoy unparalleled convenience of parking the car inside the home with large windows and natural light, modern open concept, walkable to restaurants, parks and shopping.
Even the best new homes create a glut on the market that the developer must sell, so they come at a competitive price for very popular properties. Buyers can often get the best deal on a new development townhouse while the construction is still ongoing and before they are sold out. Check out the newest homes nearing completion near Downtown Los Angeles. Get a free list of new homes under construction. Fill out the online form:
You know the song, the one that says it’s the most wonderful time of the year. Well, there is something to it. The current year coming to a close, celebration of Christmas and other Faith Driven Holiday Celebrations, all mean different things to different people, but most always represent joy, peace, gratitude and hopefulness. If you look around, you will notice a giving spirit exists unlike at other times of the year. Why can’t it be that way everyday of every year? I think it can. It just takes effort. Here is what we are doing and how you can help. Many home owners wanting to really enjoy this Holiday season are less than enthusiastic because they feel trapped. They are desperate to exit their current home and give themselves a big Christmas Gift – a NEW place to call home. #coreychambers #newsletter
The great generosity of our coaches! Toys given with LOVE that will bring warmth and a smile to so many children this Christmas!
In This Issue:
• The GIFT we are giving
• Your (and Those You Know) Holiday Season Guarantee
• How Your Referrals Help the Kids at Children’s Hospital Los Angeles
As a result of working with thousands of people over a 15-year time span and through good times and recessions, we have developed a special program to quickly get an acceptable “cash” offer on any home for market value. So, we are giving Home Owners wanting to make a move a very special gift this holiday season.
For the month of December, we will guarantee, in writing, a CASH Offer within 24 Hours at a Price Acceptable to any Home Owner wanting to sell the place they call home*. I know there is some risk on my part to make such an incredible guarantee like that, but we are selling just about every home we list for the market value price, sometimes even more, so there is no reason for area home owners, your friends and family, to fret about selling right now.
This is where you come in…
If you or anyone you know is considering making a move, we would like to offer them a FREE No-Obligation to Move Consultation to discuss just how they can make their move, get what they want and do it with the least hassle. Just like we are thankful for you and your business, I am confident your referrals will be thanking you for steering them in the right direction on getting their home sold!!!
AND remember, YOUR referrals help the Kids! We are making progress on our goal of raising $25,000 for Children’s Hospital Los Angeles this year. We do this by donating to them a portion of our income from homes we sell. As you know Children’s Hospital Los Angeles does leading edge work in helping kids fight through and survive nasty life threatening diseases like cancer, Non-Hodgkin’s lymphoma, leukemia and others. As well as being a leader in Spinal Cord Injuries and Early Diagnosis of Autism. Last year they served over 1,000,000 Kids around Greater Los Angeles. Chances are your family or someone you know has benefitted from the great work they do. Children’s depends on Sponsorships and Donations in order to provide their lifesaving work and keep families medical bills down to a minimum. So When you hear me say “YOUR REFERRALS HELP THE KIDS…” they really do.
Who do you know considering buying or selling a home you could refer to my real estate sales team? Not only will they benefit from our award winning service, you can rest assured we are also donating to a very worthy cause. I want to make it easy to refer your friends, neighbors, associates or family members considering making a move. You can go to www.ReferralsHelpKids.com and enter their contact info on line or forward the link to who you know considering a move. Of course you can always call me direct as well at 888-240-2500. Over the last decade of helping thousands of families sell their home and/or buy another, we have met some wonderful, loving, caring people. People like you! I hope you and your loved ones have an extra special Holiday Season filled with much joy and happiness.
With all my appreciation.
Corey Chambers, Realtor / Broker Associate
Realty Source, Inc.
P.S. Read the following story of this young person. It may cause you to look at your loved ones differently. It did me. Check it out.
Over the last decade of helping thousands of people to find a place, sell their home and/or buy another, we have met some wonderful, loving, caring people. People like you! So your referrals, those you know considering a move, that we help – you can rest assured that not only will they get the award winning service we are known for and the guarantee to back it up, but that a solid portion of the income we receive from the transaction will go toward a very worthy cause. Again, it’s easy to refer your friends, neighbors, associates or family members considering making a move: You can go to www.ReferralsHelpKids.com and enter their contact info on line or forward the link to who you know considering a move. Of course you can always call me direct as well at 888-240-2500.