NEW!
Watermark at Westwood Village
is taking deposits for a summer opening, call (310) 208-4590.
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Real Estate
e-Newsletter
by
Cynthia S. Radom
Award-winning
Certified Seniors Specialist
REALTOR
®
Specializing in Trust Sales
Since 1994
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NEWS & ISSUES for BABY BOOMERS to GOLDEN-AGERS
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** Writer and Publisher since October 1999 **
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When Proposition 13
was enacted by CA in 1978, it limited the ability of local agencies to increase property taxes based on assessed value. As a result, the income for financing public services and improvements was drastically cut.
In 1982, the
Mello-Roos Community Facilities Act
was created to allow any city, county, special district, school area or joint powers to devise a financing alternative for public expenditures.
A
Mello-Roos
special tax pays for improvements and services such as streets, sewer systems and other basic infrastructure; police and fire protection; ambulance services; schools; parks; libraries; museums and other cultural facilities when no other source of money is available.
Sponsored by a local government agency, a
CFD
(
Community Facilities District
) is created, usually in older areas. Once approved, by a two-thirds majority vote of residents who will benefit from the improvement or service, a
special annual tax lien
is placed against each property within the
CFD
.
The assessment is determined according to the property use and the square footage of structure and lot size. The
Mello-Roos special tax is in effect until the bonds used to finance the project are paid in full. However, the
CFD may continue to charge property owners a reduced tax to maintain the service or the improvement. As a property Seller, this
Mello-Roos tax needs to be disclosed.
Playa Vista, a
PUD
(Planned Urban Development), is the newest Westside neighborhood in over 50 years. A 40-year
Mello-Roos
fee for landscaping and parks within the
PUD
is charged to the latest built homes. The average homeowner's association fee is an additional $250 per month for
Mello-Roos
.
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Since 1987, the 22-mile stretch along the famous Mulholland Drive corridor has been under a strict, watchful eye to preserve the beautiful vistas overlooking the City and the Valley along this road. The preservation has been formalized as the
Mulholland Scenic Parkway Specific Plan
.
As a result, all developers, property owners and builders are required to submit proposed building plans to ensure adherence to the
Plan
. Approval by the
Plan
committee for building,
expanding or modifying within the parkway parameters is required prior to obtaining permits.
If your property is within
500 feet
of Mulholland Drive, on the City or Valley side, it falls under the parameters of the
Design Review Advisory Board
. The
Plan encourages aesthetically and environmentally
sensitive development to preserve, complement and enhance the views along the corridor. The goal of the Board is to preserve the natural hillside character of the entire roadway.
If your home is located in the
Mulholland Scenic Parkwa
y Plan
area,
this must be disclosed to a prospective Buyer. And, yes, you will lose some prospects (developers and owner/users) who don't want to deal with the Board's development restrictions.
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We've Moved!
Above is the
$155K BH mural by artist
Matsuyama that prohibits access to/from Wilshire during the
Metro
Purple Line construction.
After
26 years
at this corner address,
Coldwell Banker has merged its two Bev Hills offices. I am now located at
301 N. Canon Dr. (across from
Rite Aid).
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A home warranty (insurance) policy
protects against break-downs of major home systems and various appliances. Coverage includes the items that a homeowner insurance policy leaves out. When an issue occurs on an insured item, the plan
fixes
or
replaces
,
in part
or
in full
(limitations and exclusions apply).
Home warranty companies like
AHS
(
American Home Shield
) offer plans that cover A-C units; washers and dryers; refrigerators and up to 21 essential systems and appliances.
New, for today's "smart" home, is a plan to cover an unlimited amount of eligible electronics for an extended warranty on new or existing products. Items like flat screen tvs; home theater systems; laptops, desktops, etc.
Seller's Offer
:
When selling a home, an owner may offer a home warranty plan as a "good faith" gesture to a Buyer who inherits used appliances. While the plan and items to be covered are negotiable, a Seller may pay for a one-year plan policy while the Buyer will pay a nominal service fee, if needed. Unless there are warranty policies that can transfer to a new owner, a home warranty plan assures against items that can falter the minute escrow closes.
However
, if a Buyer intends to tear down the home or plans a major remodel or update, a home warranty policy is not suggested. Home appliances and systems will be purchased with new product warranties.
Tenant coverage
: A landlord can purchase a "renters" policy, a convenient way to handle those 24/7 management calls for breakdowns.
Older homes
: Consider buying a home warranty policy for your existing home. The industry leader is
American Home Shield
(
AHS
), call for info:
(800) 735-4663
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Judge ordered:
Mr. Hadid...tear down your
30,000 sft.
mansion!!
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Emergency Planning for
Seasoned
Citizens
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Evacuate immediately:
What are you going to do?
That dreaded middle-of-the-night call for a nearby fire or an EQ that gives
no warning
...
this is CA living
. You don’t have a car and your children can’t get to you. Or, maybe your spouse is ill or you have numerous pets on hand. Don’t wait for someone to knock on your door, emergency alerts are mostly done
electronically
(phone or text) or through the
media
. Whatever your living situation is,
make an emergency plan,
today
!
1.
Talk with several neighbors
: Ask a
few
neighbors to keep in touch with you during a crisis, and keep their home and cell numbers available. All you need is one caring heart to help you escape.
2.
Warning
! leave anyway
: If you are given a
voluntary
evacuation notice, pack a small bag and leave anyway. Don’t wait for the stampede, escape while you can...safe, rather than sorry.
3. Service providers
; people who work for you daily or weekly: In case you forget, or you can’t call them, have a discussion with workers, today, to leave immediately if they ever see ash or smoke in the area. They are
not
to work that day, but will be paid anyway.
Click and read
this
LA Times
article.
4. Make an emergency list
: Itemize what you need to take and do while you have a clear head. Post the list in
several
areas of your home; i.e. on the inside of your medicine cabinet and coat closet door; create a list in your cell phone
Notes
app or add a new phone "contact" and name it
Emergency List
.
AND
:
If you know a neighbor who may need help…
reach out to them
.
Put them on
your
911 list.
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We all save stuff
,
some people more than others; the unwanted, the unneeded, the worn, the ugly and the unused.
How to
de-clutter always bears repeating:
1. Start with the easy stuff:
Decide on an easy place to start and build momentum. Eliminate anything that is damaged or no longer wanted.
2. When in doubt
: Ask yourself, if this disappeared tomorrow, would I replace it? If not, don't keep it.
3. Don't be a storage unit for others
: Set a deadline for friends or family to remove their stuff. Past that date, toss it.
4. Ask for help
: Recruit a family member, housekeeper, gardener or a professional organizer to help make the task manageable.
5. Decide what is important
: Pretend you are moving overseas, and shipping costs will be a fortune. Need it or dump it?
6. Obsolete lifestyle
: You cook for one or two and no longer entertain. But, you still have china, silverware, crystal, serving pieces, table linens and all those cooking and storage items. Donate or give away.
7. Schedule your time
: Like any other appointment, schedule hours or days each week to work on de-cluttering until the job is done.
8. Value what you keep
: The fewer things you keep, the more you will treasure and enjoy what you have.
9. Prevent future collections:
For those special occasions, ask people for
gifts of time
outside the house; i.e. spa treatments; theater or musical entertainment or a dining certificate.
10. Gift to others
: Those heartfelt treasures that you want others to have eventually, wrap it and gift it now.
A cleaned out house is the
best
gift you can give to your children.
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Tidbits of News!
- The average
65-year-old today has 47% more mortgage debt than the same group had in 2003.
- 2019 included four mega sales, including record-breaker*:
(
B
uyer is Lachlan Murdoch, Rupert Murdoch’s son)
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When you depart,
don't leave your spouse in the dark
. As a
Seniors Specialist
REALTOR
®
, I often witness the frustration, anger and helplessness of a remaining spouse during the grieving period.
The reason is
, they have no clue how to handle whatever family matters their partner handled for decades. Statistically, it is the wife who remains behind, so I will speak on behalf of and address the ladies.
But, men, please read and heed some suggestions.
Immediately after the funeral, the remaining spouse is inundated with forms to complete and a to-do list a mile long. Ladies,
take mat-ters into your own hands
now
!
Here are some things to do before it is too late.
1. Ensure
your name is included on every bill, invoice, policy, account, etc.
All
the mail should be addressed to both of you.
2.
Exception
: Use separate charge cards in individual names. It is important for a wife to create a credit history in her own name.
3. Make a list
of all passwords and user names for every website login or account.
4. Consolidate
bank accounts; use one checking account in both names.
5. Whenever you get
a piece of mail, make a list of account numbers, address, contact name and phone number.
6. Know which bills
are paid by
automatic withdrawal
from the checking account.
7. Create folders
and a filing system the way you want to organize the information.
8. Call your attorney and CPA
and ask;
what happens
to
your
file if and when
they
retire or depart?
Ask for a copy of your Trust, if you don't have one, and file it.
Continue to update
the lists as changes or additions occur. Whichever spouse remains, the memories will help to ease the heart without feelings of abandonment.
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Attic Vents
Block airborne fire embers from entering your home by changing your attic to
new and improved
vents. This low-cost measure
protects your home
.
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Relatively speaking, nothing in North America is really
old
compared to other parts of the world.
Click here
, to see the nine oldest structures in the world dating back to
9000 B.C
.
The oldest standing residence in the city of Los Angeles is the
Avila Adobe
, built in 1818 by Francisco Avila. However, the 1795
Gage Mansion
in Bell Gardens is currently considered the oldest structure in LA county.
There are numerous single-family homes in the Westside area that are
over 100 years old
, presum-ably still standing. LA county building permits started recording in 1908 and
Certificate of Occupancy
records started in 1940. When a home is razed, the new build year is changed, and no build dates were found prior to 1900.
Unofficially, according to a quick public record search, the number of homes built between
1900 and 1920
includes:
- Beverly Hills: total 64
- Westwood: total 25
- Bel Air/Holmby Hills: total 29
- Santa Monica: total 44
- Pacific Palisades: only one.
Two homes in Beverly Hills were
built in 1908
, located at
910 N. Bedford Dr.
and
1305 Park Way
, two years after the City began subdividing property and selling lots. Santa Monica was founded in 1875 when land parcels began selling. The
Henry Weaver
house at
142 Adelaide Dr.,
built in 1910, is the oldest on record. In Pacific Palisades,
826 Hartzell
was built in 1920.
The building spurt for single-family homes was between 1921 and 1930. And, plenty of those homes are still standing. Oh, the many times I have heard people say,
they just don't build 'em like they used to!
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Respecting your privacy and confidentiality
, names and e-mails will only be used for providing pertinent material from Cynthia S. Radom and will not be shared with any other organization.
©2020 Coldwell Banker Real Estate LLC. Coldwell Banker® is a registered trademark licensed to Coldwell Banker Real Estate LLC. An Equal Opportunity Company. Equal Housing Opportunity. Owned By a Subsidiary of NRT LLC. This is not intended as a solicitation if your property is already listed.
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