By Pamela Rich
The podcast currently has 6 episodes available.
My name is Pamela Rich and I am your host; I’ve been selling real estate in Los Angeles for 20 years. If you are buying or selling property in LA or are just curious about the buying and selling process, this podcast is for you!
Today’s episode takes you to my city- West Hollywood. I started my real estate career in 1999, held my first open house and even purchased my first condo all right here in West Hollywood.
In today’s episode, I’m sharing a few of the top reasons that you should consider purchasing a rental property in West Hollywood. I’ll give you current information on local rent control laws and why rental companies like AirBNB are most likely not the way to rent out your property.
West Hollywood is one of my very favorite cities in California, and I’ll tell you why. Between the incredible location, highly ranked schools, walkability, parks, and city celebrations, there is plenty to love about West Hollywood. I also share a few interesting facts that will help you see why it’s such a sought-after city.
‘Pamela’s Pick’ this week is a two-bedroom California craftsman beach house that is dripping with sunlight and boasts hedge-lined private outdoor living spaces that are perfect for entertaining.
I hope you will find this concise information helpful. If you have any questions or ideas for future episodes, please feel free to reach me at [email protected].
Key Takeaways:
[:35] Pamela Rich welcome listeners and offers an overview of the incredible real estate market in West Hollywood.
[4:05] Considering investing in a rental property? West Hollywood is a great place for rental properties, and single family homes and condos are excluded from rent control laws.
[5:38] City pros include walkability and dog-friendly parks, and possibly the only con is that it’s not easily freeway-accessible.
[6:41] Fun facts about this fabulous city, including the number one employer, city celebrations, demographics, and an alternate city name that didn’t stick (thankfully).
[8:44] “Pamela’s Pick” is a California beach craftsman located on Lexington that boasts gorgeous outdoor privacy, including a private drive, and incredible light throughout.
[11:06] Check out Pamela’s website, PamelaRichProperties.com or shoot her an email with questions or ideas for future shows at [email protected] and please leave a review and rating on iTunes or where you like to listen.
[11:40] You can download this podcast on iTunes or wherever you like to listen to your podcasts. Please share with a friend and leave a review.
Mentioned in This Episode:
sellingwesthollywood.com
Imagine finding the home of your dreams. The house that checks all the boxes. The house is gorgeous, the price is right, it feels like home, but, there are already nine offers.
Cash offers seem to be the ace of spades when there are multiple offers, but sometimes sellers accept offers with certain contingencies because the offer is a better total package. If you play your cards right, you can end up with the house you love.
Before closing a deal, I always advise buyers to get multiple home inspections. A dream house isn’t so dreamy if the sewer line has hidden problems. In addition to a general home inspection, I recommend a chimney inspection, a sewer line inspection, a mold inspection, and even search the area for registered sex offenders at meganslaw.com.
A few other tips before you buy: call the local sheriff’s office and ask about the criminal activity in the neighborhood where you are looking to buy, find out what school district the house is in, and definitely make sure the permits pulled for the house were finalized.
I see buyers making the mistake of looking at houses they believe they can afford before they talk to a lender. Please talk to your lender first! You don’t want to look at houses you can’t get a loan for.
Finally, I talk about contingencies to avoid no matter what. As a Realtor®, I want my buyers to be in a good position, and I never recommend accepting certain contingencies. Listen in for the most common problems I see.
Advice is always free at my office! Feel free to call: 310-666-7424 (RICH) or email me at [email protected].
Key Takeaways:
[1:29] The house of your dreams already has nine offers. What now? Don’t worry, Pamela is here to help you through the next steps.
[2:23] An all-cash offer is not always the ace of spades.
[3:06] What are the biggest mistakes buyers make?
[4:21] A general home inspection is not enough; Pamela shares the different home inspections that are essential before buying a house.
[9:32] Have your real estate agent pull all the permits for the house you are buying. Ensure the permits were finalized.
[10:54] Lenders are more interested in a buyer’s debt-to-income ratio than income alone; call a lender before you call a Realtor®.
[13:07] Don’t accept bad contingencies! Pamela mentions a few contingencies she does not recommend accepting.
[17:33] Do not do an early release on your deposit.
[18:06] What to do when you receive a counter offer that reads, “purchase price to be final and best.”
[21:50] Advice is always free at my office, feel free to call anytime: 310-666-7424. You can also visit my website, PamelaRichProperties.com.
[22:11] Today’s hot property, well… isn’t so hot. This week I looked at eight properties and I can’t say I was excited about any of them.
[23:50] Share this podcast with a friend or family member who might find the information helpful! Check out my website: PamelaRichProperties.com or shoot me an email with questions or ideas for future shows at pamela@hiltonhighland.com and please leave a review and rating on iTunes or where you like to listen.
Mentioned in This Episode:
PamelaRichProperties.com
Meganslaw.com
Los Angeles School Finder
First of all, thank you for your support! I have loved getting feedback, questions and topic requests. I must say, you’ve sent some great questions.
I’ve been getting a lot of questions about getting your house ready to sell and put on the market:
When is the best time to sell my house?
How reliable and accurate is Zillow?
Should I get a home inspection?
How long does it take to sell my house?
In this episode, I cover all of these questions and I also provide valuable pointers to get your house totally ready for the market. I’ve seen a lot of properties and know what works; I know how to get top dollar.
I also know what doesn’t work. If something has a weird smell, buyers will run. If you aren’t upfront with buyers, they may feel uneasy and that could spoil the sell. Buyers in this market are sophisticated. Putting your best foot forward will help you get the most money in the shortest amount of time.
Today, I am sharing, not one, but two hot properties. I think you will love them as much as I do. Feel free to check out these properties on my website: PamelaRichProperties.com.
If you have any questions about selling your house or ideas for future episodes, please feel free to reach me at [email protected].
Key Takeaways:
[:36] Welcome to another episode of “Selling Los Angeles.”
[:44] Today’s topic: If they can smell it, I can’t sell it, and other things you should know before you put your house on the market.
[1:12] Thank you for your support!
[1:52] When is the best time to sell my house?
[4:43] Is Zillow accurate when it comes to prices? How to get a fair, accurate appraisal.
[7:28] When should you get a home inspection? The best practice is to be upfront with buyers.
[14:14] How long will it take for my house to sell? How to put yourself in a power position as a seller.
[18:39] In today’s market, “pretty gets picked and pretty gets paid”. Lot’s with potential for development are also selling quickly.
[21:25] “If they can smell it, I can’t sell it.” Distracting smells are a huge deal breaker.
[24:30] Pamela’s picks! Today there are two, a great corner lot at a great price, and a vintage Spanish-style home that needs a little bit of a hug.
[28:13] Share this podcast with a friend or family member who might find the information helpful! Check out my website: PamelaRichProperties.com or shoot me an email with questions or ideas for future shows at pamela@hiltonhighland.com and please leave a review and rating on iTunes or where you like to listen.
Mentioned in This Episode:
PamelaRichProperties.com
Property taxes! Everyone’s favorite topic. Okay, maybe not, but the more you know the better off you are.
When I sell a property, I always let my buyers know their property tax will be about 1.25% of the price they paid for their house. The actual calculation is more complicated, but in general, 1.25% is a good estimate.
The next question buyers have is how much will property taxes go up? Proposition 13, also called “The People’s Initiative to Limit Property Tax” protects homeowners from property tax increases of more than 2% per year. In certain circumstances, It is also possible for your property taxes to decrease.
The next tip is for anyone over 55! Residents over 55 in Riverside County, Los Angeles County, and San Diego County can keep the tax base of their current primary residence if they buy another primary residence of equal or lesser value. This is a really great opportunity for people who have owned a home for a number of years and are looking to downsize.
This week, my hot property is a gorgeous home in the Palisades. This home is private, it has personality, wonderful indoor/outdoor flow, lots of green space, a deck with a view and it’s in a great neighborhood. This would be ideal for a bachelor, bachelorette or maybe a couple! Check it out on my website: PamelaRichProperties.com.
Thank you for tuning in! If you have any questions or ideas for future episodes, please feel free to reach me at [email protected].
Key Takeaways:
[:35] Welcome to another episode of “Selling Los Angeles”.
[:45] Today’s topic: What is up with property taxes?
[1:21] Property tax in LA county is roughly 1.25% of the purchase price.
[2:04] Explanation of Proposition 13: The People’s Initiative to Limit Property Tax. When and how much your property taxes can increase?
[3:53] Can your property taxes ever go down? Proposition 8.
[6:18] Major renovation can increase your property tax more than the usual 2%/year limit.
[7:25] Are you or someone you know over 55? Proposition 60 provides a great benefit for older people looking to downsize.
[8:59] The requirements for Proposition 60.
[10:52] Pamela’s hot property this week is a house on Charmel Lane in the Palisades. There is a lot to love about this home!
[14:28] Share this podcast with a friend or family member who might find the information helpful! Check out my website: PamelaRichProperties.com or shoot me an email with questions or ideas for future shows at pamela@hiltonhighland.com and please leave a review and rating on iTunes or where you like to listen.
Mentioned in This Episode:
PamelaRichProperties.com
My name is Pamela Rich and I am your host; I’ve been selling real estate in Los Angeles for 20 years.
If you are buying or selling property in LA or just curious about the buying and selling process, this podcast is for you!
As a real estate agent, I often sell investment properties in the Los Angeles area. Having an investment property has many benefits; however, investment properties can be difficult to manage if tenants don’t pay rent.
In today’s episode, I share a few relevant tidbits of information about rentals in general. I debunk a common myth about co-signers and share the LA ordinance that allows garages and spaces above garages to be converted into granny flats, which I think is a fabulous idea.
I also cover the process of properly dealing with a tenant who hasn’t paid rent. I will say that enlisting the expertise of a real estate lawyer or an eviction service is totally worth it. However, it’s wise to thoroughly understand the process of evicting a tenant.
This episode explains everything, from the first three-day notice, the unlawful detainer, and the writ of possession, to the locksmith changing the locks. There is some really valuable information that could save you lots of trouble.
Pamela’s pick is a three-bedroom, absolutely amazing house I visited this week with incredible views of the “queen’s neckline.” It was a hot property and I can see why!
I hope you will find this concise information helpful. If you have any questions or ideas for future episodes, please feel free to reach me at [email protected].
Key Takeaways:
[:44] Pamela Rich welcome listeners to this episode.
[:50] This episode covers the process for when tenants do not pay their rent.
[2:07] Pamela debunks a common myth about co-signing.
[4:08] In 2017 an ordinance passed in LA that allows homeowners to legally convert a garage or a space over a garage into a granny flat. Pamela explains the ins and outs of that process.
[6:35] My tenant hasn’t paid the rent, now what? Pamela outlines the steps to go through to start the eviction process, starting with giving the tenants a three day notice.
[6:52] If the tenant does not pay rent within three days, the next step is to have your lawyer get an unlawful detainer from the superior court.
[7:05] If you hear nothing from your tenant you will get what is called a judgment of possession which allows you to get a writ. The writ allows a sheriff to leave a notice to vacate. They must leave within five days.
[7:32] After five days a locksmith and sheriff will go to the unit and change the locks and anyone in the space will be required to leave. You must hold the tenants belongings for 17 days.
[8:52] What happens if your tenant contests the lawsuit?
[9:45] A few last-minute tips for helping the eviction process go smoother: address three day notice to tenants and “all unknown occupants” and you cannot sue for any other fees besides back rent.
[11:37 This episode, “Pamela’s pick” is the last of eight houses she saw this week. This house had unbelievable views of the “queen’s neckline” and was a real stunner!
[13:04] You can download my podcast on iTunes or wherever you like to listen to your podcasts. Please share with a friend and leave a review.
[13:27] Thanks for listening. Check out Pamela’s website, PamelaRichProperties.com or shoot her an email with questions or ideas for future shows at pamela@hiltonhighland.com and please leave a review and rating on iTunes or where you like to listen.
Mentioned in This Episode:
PamelaRichProperties.com
In 1996, I moved to the Los Angeles area. Before moving to Los Angeles, I lived and sold real estate in Toronto. As soon as I got to Los Angeles, I knew I wanted to sell real estate.
I was unfamiliar with LA, so I decided to experience and live in different parts of the city. I spent time in Hollywood, Hancock Park, Venice, and Beverly Hills, just to name a few. I couldn’t live everywhere, but I started to get comfortable with the different vibes and communities around the city. I found Beverly Hills was a great fit for me and my French Bulldog, Henry.
I first fell in love with Pacific Palisades when I had a client who needed a rental property in The Palisades, after spending time searching out the perfect rental for my client, I was hooked. One of the first things I noticed about The Palisades was the local vibe. I came to love the Sunday Farmer’s Market, the hiking trail, the crisp coastal air and the feel-good, local restaurants.
My love affair with Pacific Palisades doesn’t stop there. I can’t help but appreciate the uniqueness of all the different neighborhoods within The Palisades. It runs along Sunset Boulevard, is surrounded by Brentwood, Santa Monica, and parts of Malibu. It has something for everyone.
The best way to really experience The Palisades is to visit! You can grab a bite to eat, walk along the beach and look at some real estate. I am excited to be able to share all I love about The Palisades and everything I know about buying and selling real estate in this area. Stay tuned for the next episode!
Key Takeaways:
[:20] Pamela Rich, the show’s host, is introduced.
[:53] Pamela announces she has fallen in love with Pacific Palisades, CA.
[1:28] Pamela explains how she fell in love with Pacific Palisades, CA, starting from the beginning.
[3:05] Pamela had a client who needed a rental in The Palisades. While looking for a rental, she noticed the local vibe and her eyes were opened.
[4:15] Pamela wanted to know more about The Palisades.
[4:38] The Palisades are NOT cheap.
[4:45] Pamela covers what makes up The Palisades — the streets, the surrounding areas, and the different neighborhoods within it.
[8:52] The Palisades offer a little bit of everything, whatever type of house or lifestyle you are after, you can find it in The Palisades.
[9:00] In The Palisades, about one house sells each day of the year, totaling about 360/year. Pamela gives some brief fun facts about housing in The Palisades, including rental prices, starter home inventory, price/square foot, and what the schools are like.
[10:20] The best way to experience The Palisades is to visit. You could find you love it, too.
[10:34] You can check out allthings90272.com or pamelarichproperties.com to check out listings, and find more information about The Palisades.
[10:49] Thanks for listening to the first Palisades Podcast! If you liked what you heard, tune it next time, and feel free to leave a review on iTunes.
Mentioned in This Episode:
AllThings90272.com
AllThingsPalisades.com
PamelaRichProperties.com
The podcast currently has 6 episodes available.