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There are two serious ordinances pending approval by the City Council and County Council that will have an immediate, direct impact on your home values and disclosure requirements.
The first is the Baseline Hillside Ordinance that impacts all residences and vacant land in our neighborhood. On August 5th the Los Angeles City Council approved the proposed Baseline Hillside Ordinance provisions with 2 changes and has asked the City Attorney’s Office to review and prepare the official Ordinance.
The changes, in the form of Motions, should be available for download on the online Council File. But as of August 17th, all the signs are indicating that this will assuredly be passed. The ordinance is going to have a huge impact on the residential areas that are approximately south of Valley Vista, North of Sunset, Hollywood Hills to the east and Mulholland Park/Bel Air to the west. The exact map of coverage is still being finalized.
The premise is that tall, multi-level homes and homes that are not consistent with the existing architectural “culture” will no longer be allowed in this geographical area. There will be strict limitations to height, size, grading, slope and style with this ordinance. It also includes limitations on adding any additions to any existing homes even if they currently comply with building codes.
There will not only be restrictions on the size of a home that can be built based on the square footage of the lot, but what constitutes square footage and how it is calculated. (The GARAGE!)
I have all the precise information and available or you can put Baseline Hillside Ordinance in your browser and peruse. There is also a Facebook Fan page that you can follow that will give you updates.
The second ordinance pertains to Septic Systems. The Proposal will amend the current standards to the Board of Public Works, City Council and Mayor an OWTS Management Program (Onsite Wastewater Treatment Systems). This will require inspection and certification every 3 years for high risk areas and every 5 years for the remaining areas. If you have to upgrade your system to new standards this can cost thousands of dollars. I know from personal experience that my system is now required to have a second opening and Certification was refused. An extension has been granted until December 31, 2010 but information must be disclosed should you sell your home. For more precise information go to http://www.waterboards.ca.gov/losangeles.
Home mortgage rates and real estate news - CNNMoney.comHousing quagmire: Is it time to remove relief?
For the growing number of struggling homeowners in this country, more help is on the way. Additional aid from the federal government will begin making its way to them next month -- one program would help qualified homeowners refinance their mortgages after seeing their property values fall below the amount they owe, and the other includes another round of funding to help the unemployed or underemployed with their payments. Read Article
Tue, 31 Aug 2010 12:47:10 EDT Home prices gain 3.6% in past year
Despite a recent spate of bad news coming out of the housing industry, home prices show signs of stabilizing. Read Article
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Thu, 05 Mar 2009 12:34:34 EST Remodeling your home? Get online
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Fri, 27 Aug 2010 11:50:46 EDT Say goodbye to the McMansion
The American home is shrinking. Toll the bell for the McMansion. Read Article
Thu, 26 Aug 2010 12:33:30 EDT Fewer mortgages are in default
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Thu, 26 Aug 2010 13:31:31 EDT Best moves for home buyers and sellers
Plenty of forces, from overly cautious lenders to inaccurate appraisals, are wrecking real estate deals right now. But one of the biggest roadblocks to getting a house sold these days is the disconnect between buyers and sellers. Read Article
Wed, 25 Aug 2010 08:57:25 EDT
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