by Roberta Murphy It’s a sad fact of life, but unscrupulous vultures are always ready to pick at the flesh of the most financially distressed–which more frequently these days includes the owners of luxury real estate. Over on our San Diego real estate blog we report that San Diego County District Attorney Bonnie Dumanis is asking San Diego Realtors to help her track down and prosecute real estate fraudsters operating…
10 Money Saving Tips–for even the Gucci Wallet
by Roberta Murphy Magic must be in the air. Even our middle son Eric — who has never, ever cottoned to bagged lunches — packed one the other day and probably saved at least $5. This college student works part time, but last week discovered the agony of having to pay $1,800 or so for a new bumper and rear quarter panel that met a brick wall when he was…
Spelling Mansion “Officially” for Sale
by Roberta Murphy In 2006, we reported that Candace Spelling, 63, and widow of the later Aaron Spelling, was shopping for a $150 million buyer for her Holmby Hills home: ….Candy Spelling, widow of the late Aaron Spelling, has quietly put their legendary 56,000 square foot, 123-room Holmby Hills mansion on the market for $150 million. Sources say the Westside Estate Agency (WEA) has the pocket listing and that the…
Refi for Real Estate Investors
by Roberta Murphy We now have the chance to read through the recent Stimulus/Spending Bill that was passed largely unread by our Congress. The earmarks and pork anger many, but there is good news on the real estate front: Owners of second homes and other real estate investments will now be able to refinance their mortgage loans if they are guaranteed or held by either FannieMae or FreddieMac–and if the…
Trump’s Baja Luxury Resort Fails
by Roberta Murphy Mexico is struggling with a number of serious problems, including failed real estate developments along the Baja coastline–just south of the San Diego border. From the northern tip of Tijuana’s coastline down to Ensenada, Baja beach areas are spotted with the rusting remains of failed high rise condo projects. And one of the biggest failures is the Trump Ocean Resort Baja just north of Punta Bandera, where…
A Temecula Wine Country Winner
by Eve Sieminski I’ve been visiting the Temecula Valley for wine tastings over the years–usually as a substitute for the richer (and more distant) wine experiences to be found along California’s Central Coast and the Napa/Sonoma wine countries. A couple of weeks ago, we had a visitor from Europe who wanted a California wine experience. Not having the time for a long drive North, we headed out to Temecula, just…
All Mortgages Are Now Assumable
by Roberta Murphy If I could be President Obama’s Mortgage Czar for just one week, the first thing I would mandate is that all existing mortgages become assumable. When starting my real estate career in Houston, Texas during the last century, it was not uncommon for buyers to assume or take over existing financing. In fact, it was a perfect way for the self-employed or those with dinged credit to…
Sometimes a Dog’s Best Friend–is Another Dog
by Roberta Murphy This video really has nothing to do with luxury, luxury homes or anything of the sort. But, it has a lot to do with a big, big heart, quick action and enormous courage–and the compelling story of how one dog bravely saves the life of another. [youtube]http://www.youtube.com/watch?v=m2qSakxWt54[/youtube]
Even Luxury Home Loans Can be Modified
by Roberta Murphy One Can Modify Luxury Home Loans, too? Not all clients took my conservative mortgage advice over the years, and some ended up with home loans that have turned downright nasty. In one case, a client and dear friend was persuaded to take out a Negative Amortizing Adjustable Rate Mortgage (Neg Am) along with a HELOC (Home Equity Line of Credit) a few weeks after the purchase of…
Luxury Buyers Digging in Their Heels?
by Roberta Murphy Dear friends returned with big smiles and fat packages after a trip to Las Vegas prior to Christmas. Ulf and Andrea walked into the Saks Fifth Avenue store on Las Vegas Boulevard–and encountered rack after rack of clothing discounted up to 80 percent off. These were sales never seen in the weeks before Christmas, and they happily bagged up their luxury bargains and returned to Southern California….
