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HAFA Short Sales Facts

Happy Tuesday everyone! We hope you are enjoying this beautiful morning on the Westside of Los Angeles.

If you are a homeowner that is having problems keeping up with your mortgage and bills? Maybe it’s time you consider a short sale. HAFA (Home Affordable Foreclosure Alternatives) facts:

 What is HAFA? HAFA is a government-subsidized “Home Affordable Foreclosure Alternatives” program for distressed homeowners to sell their homes to avoid foreclosure, even if the sales price is not enough to pay off their existing mortgage loans. Under HAFA, a participating lender may pre-approve the terms of a short sale prior to listing, using standard forms and specific timeframes. Or an executed offer may be submitted without a pre-approval.
These Rules Apply Only to Participating Lenders HAFA is available for mortgages where the lender has entered into a Home Affordable Modification Program (“HAMP”) participation agreement. There are over 100 such participating lenders. The rules in this Fact Sheet apply only to non-GSE participating lenders and are NOT applicable for mortgages owned or guaranteed by Fannie Mae or Freddie Mac, or insured by FHA, VA or the Dept. of Agriculture’s Rural Housing Service (known as “Government Sponsored Enterprises” or “GSEs”). Different rules apply to loans by those entities. A list of HAMP participating servicers can be found here.
HAFA rules for non-GSEs are more closely aligned with Fannie Mae rules As of February 1, 2013 the standard HAFA rules as stated in this fact sheet governing non-GSE lenders have been significantly modified for the purpose of better aligning those rules with the ones that govern Fannie Mae and Freddie Mac short sales.

Many of the previous forms have been eliminated including the Short Sale Agreement (SSA), the Request for Approval of Short Sale (RASS) and Alternative Request for Approval of Short Sale (Alt RASS). The SSA form has been changed to the Short Sale Notice (SSN). Previously, the SSA was an offer from the lender that the borrower accepted or rejected. Now, the SSN is simply a unilateral notice that gives the borrower the right to proceed with a short sale under specified terms.

 Eligibility The eligibility requirements for a HAFA short sale include the following:

  • The borrower may apply for HAFA directly. Not qualifying for HAMP (loan modification) or failing to successfully complete a trial period is no longer a condition of HAFA eligibility.
  • The loan is delinquent or default is reasonably foreseeable. Loans currently in foreclosure or bankruptcy are eligible.
  • The loan is secured by a 1 to 4 unit property. There is no longer a requirement that the property be owner occupied. Nor is there a limit on the number of properties owned by a borrower that may be approved under HAFA. Tenant occupied or vacant properties may be eligible.
  • The loan must be a first trust deed originated before Jan. 1, 2009.
  • The borrower’s hardship must be verified by the lender. Borrower must sign a Hardship Affidavit or Request for Modification Assistance (RMA) wherein the borrower has represented that he or she does not have sufficient liquid assets to make the monthly mortgage payments.
  • The borrower must not have been convicted of a felony larceny, theft, fraud, forgery, money laundering, or tax evasion in connection with a mortgage or real estate transaction within the last 10 years (the borrower must sign Dodd-Frank Certification to that effect).
  • Current unpaid principal balance must be less than the following: 1 Unit $729,750, 2 Units $934,200, 3 Units $1,129,250, 4 Units $1,403,400.
  • The borrower is a real person, not an LLC or corporation.
  • The property securing the loan is not condemned.
Release of Subordinate Liens Subordinate lien holders will continue to be paid in order of priority. There is no longer a 6% cap with respect of payments to each subordinate lien holder. However the aggregate cap has been raised to $8,500. This cap does not include payment for non-mortgage liens such as mechanics’ liens or HOA assessment liens.  Subordinate lien holder(s) may not require contributions from either the real estate agent or borrower as a condition for releasing its lien and releasing the borrower from personal liability. Any payments to subordinate lien holders must be included on the HUD-1 Settlement Statement.
Financial Incentives The government incentives under HAFA are as follows:

  • $3,000 for relocation expenses to borrower, tenant or non-borrower occupant who occupies property as principal residence and is required to vacate as a condition of the HAFA short sale. $3000 is the total incentive no matter how many occupants.
  • $1,500 to lender/servicer to cover administrative and processing costs
  • $2 reimbursement to investor for every $3 paid to extinguish junior liens, up to $5,000 maximum.
Program Cut-Off Date The borrower must have submitted a written request (mail, fax or e-mail) for consideration of a short sale, or before pre-approval of a HAFA short sale, written request for approval of an executed sales contract on or before December 31, 2013, and the transaction closing date must be on or before September 30, 2014.
HAFA Procedures The general procedures for HAFA where borrower seeks pre-approval for short sale:

Step 1: If a borrower who was not previously evaluated for HAMP requests a short sale, the lender must acknowledge request within 10 days and provide borrower with copy of Hardship Affidavit and description of HAFA evaluation process. Lender must consider borrower for HAFA Short Sale even if borrower did not specifically request it.

Or

Step 1: Lender must consider possible HAMP-eligible borrower for HAFA within 30 days of not qualifying for a Trial Period Plan (TPP), not successfully completing a TPP, or losing good standing on HAMP modification. Lender must then proactively notify borrower of eligibility.

Step 2: Borrower has 14 days after notification to request short sale. Or a borrower may initiate short sale request on his or her own. (But a borrower cannot participate in a HAFA pre-approved short sale and TPP at the same time).

Step 3: Lender has 10 days to acknowledge borrower’s request.

Step 4: Borrower delivers back Hardship Affidavit or other documents, if so required.

Step 5: Lender issues Short Sale Notice (SSN) or other pre-approval notice within 30 days of request for short sale.

Step 6: Borrower lists property for sale using a licensed real estate agent.

Step 7: Borrower does not sign or “accept” the SSN. The SSN is a unilateral pre-approval that gives the borrower the right to proceed with a short sale.

Step 8: The lender’s SSN must fix a termination date of at least 120 days from the effective date of the SSN.

Step 9: Borrower and agent market and sell the property.

Step 10: Within three business days following receipt of an executed purchase offer, borrower submits it to the lender along with other requested documents.

Step 11: Lender approves sale within 10 business days.

Step 12: Sale closes escrow.

Alternative Procedure where borrower has executed purchase offer prior to receiving HAFA pre-approval

Step 1: A borrower submits to lender executed sales contract to request short sale

Step 2: Lender Acknowledges receipt within 10 days using the Acknowledgement of Request for Short Sale form (ARSS) or similar form

Step 3: Borrower provides any additional documentation requested within 14 days including the Hardship Affidavit if necessary

Step 4: Lender verifies eligibility and approves or disapproves sale or makes a counter within 30 days of receipt of all offer documents.

 

Lender’s Evaluation If a borrower’s financial and hardship information has been verified as part of the HAMP evaluation and the servicer is in possession of a signed Hardship Affidavit or RMA, no additional financial or hardship assessment is required under HAFA. However, in accordance with investor guidelines, the lender/servicer may request updated financial information.

When a borrower who was not previously evaluated for HAMP requests a short sale the lender must determine the basic eligibility of the borrower and obtain a completed Hardship Affidavit (or RMA).

Mortgage Insurance A mortgage loan does not qualify for HAFA unless the mortgage insurer waives any right to collect additional sums (cash or note) from the borrower.
The Terms of the Pre-Approval using either Sale Notice (SSN) or the Lender’s Own Form The Pre-Approval must include, among other things, the following:

  • A fixed termination date to be a minimum of 120 calendar days from the Effective Date of the SSN.
  • A requirement that the property be listed with a licensed real estate professional who is regularly doing business in the community where the property is located.
  • Either a list price or net proceeds acceptable to the lender.
  • Notice that the borrower is responsible for property maintenance and repair from Effective Date
  • The amount of closing costs or other expenses the lender will permit to be deducted from the gross sale proceeds.
  • An agreement to fully release borrower from all liability for repayment of the loan.
  • An agreement not to complete a foreclosure sale if borrower complies with SSN.
  • Amount of acceptable closing costs and up to 6% real estate commission.
  • Notice that the sale must be an arm’s length transaction.
  • Notice that the buyer must agree not to resell the property within 30 days of closing and for sales between 31 and 90 days after closing, the buyer cannot sell property for more than 120% or the HAFA short sale price.
  • The borrower, tenant or other non-borrower occupant will be entitled to assistance of $3,000, as applicable
Tax, Credit, and Other Consequences A HAFA short sale may have serious tax, credit, financial, legal, and other consequences. Credit reporting for HAFA short sales must be either 13 “paid or closed/zero balance” or 65 “account paid in full/a foreclosure was started” as applicable. A homeowner is strongly encouraged to seek the advice of a qualified professional regarding these consequences.
Real Estate Commissions The real estate commission that may be paid is the amount indicated in the listing agreement between the borrower and the listing broker, provided that the commission may not exceed 6% of the sales contract price. The lender/servicer may not require, as a condition of approving a short sale, a reduction in the real estate commission below the commission stated in the SSN. A fee for any contractor retained by lender to assist the listing broker cannot be charged to the borrower or deducted from the real estate commission if paid from sale proceeds.
Lender’s Website Matrix Required Each lender/servicer must complete and post to its website a matrix that identifies the lenders/servicer’s unique HAFA eligibility criteria and program rules (HAFA Matrix). The Matrix must be consistent with HAFA Policy and any specific investor requirements or prohibitions.
Fact Sheet Reference Information All of the information in this Fact Sheet is based upon the MHA Handbook (v4.1 from 12/13/2012) and the Supplemental Directives 12-07 and 12-10. These references replace and supersede all previous Supplemental Directives, FAQs, reference guides, handbooks and waivers with regard to the Making Home Affordable Program for non-GSE mortgages. Links to the MHA Handbook and subsequent Supplemental Directives can be found here: https://www.hmpadmin.com/portal/programs/hamp.jsp#1.
More Information Go to http://www.makinghomeaffordable.gov/programs
/exit-gracefully/Pages/hafa.aspx
or call 1 (888) 995-4673 to speak with a HUD-approved housing counselor for free. For additional guidance and MHA Handbook, go to https://www.hmpadmin.com/portal/programs/guidance.jsp.

REALTOR® Groups Fight Foreclosure Crisis

Local real estate professionals have launched innovative solutions to the foreclosure crisis—


many funded by the NATIONAL ASSOCIATION OF REALTORS®—in cities around the country.

Backed by a $3 million war chest from the NATIONAL ASSOCIATION OF REALTORS®, real estate agents around the country have come up with a variety of ideas for curtailing the economic effects of foreclosure in their local markets.
They’re volunteering as foreclosure counselors, running vacant property tours, seeking training to better serve clients in foreclosure, and teaching financially struggling homeowners how to “buy time” from mortgage lenders. In addition, they’re pushing federal regulators and legislators to speed up the short-sale process.

Volunteer foreclosure counselors

The Orange County Association of REALTORS® in California has trained more than 300 REALTORS® to serve as foreclosure counselor volunteers.

Working in collaboration with nonprofits, government leaders, and industry and advocacy organizations, the Orange County REALTORS® volunteer at foreclosure-prevention workshops. The ongoing effort has already helped nearly 10,000 homeowners.

REALTORS® from Virginia’s Eastern Shore held a seminar where homebuyers in foreclosure learned how to talk with their banks to buy themselves time.

“Banks will work with you if you know how to talk to them,” says Eastern Shore Association of REALTORS® Executive Officer Laura Flournoy. “Many people are losing their homes today because they don’t know how to write letters to the bank.”

Reducing foreclosures

In St. Paul and Minneapolis, Minn., REALTORS® focused on reducing the inventory of unsold vacant homes by conducting tours of foreclosed homes, short-sale homes, and other vacant homes.

The St. Paul “Welcome Home” tour featured open houses on two weekends in four neighborhoods with high foreclosure rates. It highlighted nearby amenities and the value of investing in the communities through homeownership.

The North Metro REALTORS® Association just outside Minneapolis organized a series of single-day, open house events featuring an average of 150 properties, including foreclosures and short sales, on the market in four communities hit hard by foreclosures.

“Within a week a dozen of the homes had sold, and a year later we’re still hearing from REALTORS® about sales they closed with buyers who attended one of those open houses,” said Eric Myers, government affairs director for the North Metro association.

Participating communities pitched in by promoting the tour and local amenities including newly available commuter rail service and by providing information on downpayment assistance for homebuyers.

REALTOR® short sales and foreclosure certification

REALTORS® aren’t just educating homeowners, they’re also educating themselves about foreclosure and short-sale processes by earning the National Association’s Short Sales and Foreclosure Resource (SFR) certification.
The designation confirms a REALTOR® can help a homeowner maneuver through the complexities of short sales as well as help buyers pursue short-sale and foreclosure opportunities.
Westside Properties

Westside Properties is a full-service real estate boutique brokerage based in Pacific Palisades serving the entire Westside of Los Angeles. We proudly represent the finest properties throughout the Westside.
We work as a team and combine our extensive real estate experience, powerful resources and connections to benefit you whether you are looking you buy or sell a home in today’s exciting and lucrative real estate market.
Call us now to get started on the road to buying or selling your next home.


310.459.8191 or email info@wsprops.com



NAR pushes banks for answers to the foreclosure crisis

At the national level, NAR has worked to make the short-sale process run faster and more smoothly. In a short sale, the lender agrees to let the homeowner sell a property for less than what’s owed on the mortgage.

Short sales are an important part of the federal government’s Home Affordable Foreclosure Alternatives program, and NAR pushed the federal government to include key consumer protections and benefits in the HAFA program.

One of the benefits is that lenders using HAFA now must respond within 10 days to home-purchase contracts. Based on what REALTORS® in markets around the country have reported, some banks take months to respond to offers on short-sale or foreclosure properties.

Second mortgage solution

Although the new HAFA process should help speed up short sales, there could still be problems negotiating some deals, according to Anthony Hutchinson, senior policy representative for NAR.

Many of the homeowners who want to do short sales have more than one mortgage loan. Because second mortgage lenders get paid only if there are sales proceeds left after the first mortgage is paid off, they aren’t keen to OK a short sale. “The real challenges lie with second mortgage holders who don’t see the advantage of doing a short sale,” he says.

The new HAFA program would set aside 6%, or up to $6,000, of the sale proceeds for second mortgage lenders that agree to a short sale. “If the property goes into foreclosure instead of becoming a short sale, the second mortgage lender will likely get zero and the homeowner would lose his home,” Hutchinson says.

Repayment break

In addition, NAR successfully lobbied to stop banks from requiring foreclosed homeowners using HAFA to repay the difference between the sales price and the amount still owed on the home’s mortgages after the short sale closes. However, that break on repayment won’t apply to short sales that take place outside HAFA, unless homeowners specifically negotiate that benefit for themselves.

“That’s important because, in some states, mortgage lenders can come after the homeowner for that money years after the short sale,” says Hutchinson. “In fact, some mortgage lenders are already selling those debts to collection agencies and more may do so in the future.”

Dona DeZube, HouseLogic’s Advocacy and News Editor, has been writing about real estate for over two decades. She lives in a suburban Baltimore 1970s rancher on a 3-acre lot shared with possums, raccoons, foxes, a herd of deer, and her blue-tick hound.

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To preview the finest real estate and the best deals on the Westside of Los Angeles including Pacific Palisades, Santa Monica, Malibu, Brentwood, Bel Air, Beverly Hills, West L.A., Marina Del Rey & Mar Vista please visit our website:http://www.westsidehomefinder.com/ When you are ready to view the properties or just have a question, please contact us: 310.459.8191 or info@wsprops.com

Save Money By Growing Fruit Trees

Investing in a fruit tree is a win-win-win-win proposition. You’ll save money on your grocery bill; you’ll improve the health of your family by assuring an ample supply of healthy produce (which you can grow organically if you want); you’ll enhance your landscape with a pretty spring-flowering tree; and you’ll have the satisfaction of growing your own food. As a bonus, the whole family will learn a delicious lesson about nature and gardening.

planting trees“With fruit trees, the return you get on your input is quite a bit,” says Ron Perry, a Michigan State University professor of horticulture who specializes in fruit trees.

Your investment is minimal; figure $20 to $30 for a young tree and perhaps an hour to plant it. From that point, you’ll also need patience. Most fruit trees take three years to start bearing, and up to five years to bear fully.

There are basically three types of trees. Full-sized fruit trees grow to be 30 feet tall and produce an overwhelming amount of fruit at maturity. For home gardens, semi-dwarf and dwarf trees are a better choice and are easier to harvest. Plan on harvesting in late summer through fall.

Semi-dwarf trees grow 12 to 15 feet tall and will produce hundreds of fruits. Dwarf trees grow 8 to 10 feet tall and produce perhaps a bushel or so of fruit, depending on the type and year.
How much will you save?
How much money you’ll save by planting a fruit tree varies, depending on what you plant, the size of the tree, and your food buying and eating habits. Note that fruit trees tend to produce more heavily every other year.

On average, a single semi-dwarf apple tree may produce 40 or more pounds of fruit each year. With prices of apples ranging from 60 cents to $3.50 per pound, your tree might easily produce $80 worth of fruit. That reduces the annual amount a family of four spends on produce by 5% to 10%.

Plan on refrigerating some produce to keep it weeks longer. You’ll see even more savings byfreezing, canning, making preserves, or drying fruit (a dehydrator costs about $60). This can shave another few dollars a week off your grocery bill and provide you with plenty of nutritious food to eat all year long.
Picking the right tree for your region
Choose fruit trees that are easy to grow in your region and which you and your family will be happy to eat.

Apples, pears, cherries and plums are among the best choices for home gardens, says Perry, because as long as you choose disease-resistant types, they require little spraying or fuss that commercial growers lavish on their trees to assure the biggest, most perfect, store ready fruits.

You can find a disease-resistant variety of fruit tree that will do well in your area by contacting your government-funded local cooperative extension service. Or, find out even faster by Googling the following four words together: “Recommended,” the type of fruit (such as “apple”), “trees,” and the name of your state, such as “Illinois.”

Some fruit trees need a second tree for cross-pollination by bees in order to produce fruit. Check the plant label or catalog description to be sure.

Here are some tips for growing the best fruit trees for home gardens:

Apples: Most varieties need a second tree for cross-pollination. Disease-resistant varieties are Freedom and Liberty. Increase savings by making apple butter, applesauce, and drying. Apple trees do well in Zones 3 through 9.

Pears: These often need a second tree for cross-pollination. Delicious, Harrow Delight, and Moonglow are particularly resistant to disease. Increase savings by canning and making pear butter. Pear trees do well in Zones 4 through 9.

Cherries: Sour cherries do not need a cross-pollinator tree nearby. They are excellent for pies and baking, and all sour cherry trees are highly disease- and pest-resistant. Sour cherries do well in Zones 4 through 8.

Most sweet cherries need a cross-pollinating tree. They’re excellent for eating fresh. Freeze extra cherries for even more savings. They do well in Zones 5 through 8.

Plums: Japanese and American plums always need a cross-pollinator; European types usually do. European types, such as Damson, are the most disease- and pest-resistant. Make plum jam or dry plums for even more savings. Plum trees do well in Zones 4 through 9.

Peaches: Most peaches do not need a cross-pollinator. You need to be diligent about spraying if you want large, blemish-free fruits. Can peaches, make jam, or freeze peaches for more savings. Peach trees do well in Zones 6 through 9.
Growing fruit trees
The main requirement for a fruit tree is full sun-at least 8 hours of direct, unfiltered light a day.

Space is also important. Allow as much space between trees and other plantings as the tree will be at mature height. Space full-size fruit trees 30 feet apart; plan 15 feet between semi-dwarf trees and 10 feet between dwarf trees.

Plant fruit tree saplings in spring. Planting is easy-simply dig a hole about 12 inches deeper and wider than the root ball of the tree. Work in a shovelful or two of compost, then set the tree in the hole and backfill. Keep well watered for the first few weeks.

Saplings come from the nursery with their roots in containers. Plant the tree so that the trunk is at the same depth it was in the container. If the tree is bare-root, that is, sold in a bag with its roots exposed, plant it so the knobby bud union that joins the trunk with the roots is 1 to 2 inches above soil level.

Prune your fruit trees as directed by the planting instructions that come with the tree. Each spring, minimize disease problems by spraying with an organic horticultural oil (a $10 bottle will last you a few years) diluted in a $25 pump sprayer.

Veronica Lorson Fowler grew up on a farm and has gardened since she was a child. A garden writer for more than 20 years, she has written and edited numerous garden books, and has written hundreds of garden articles for web sites and national magazines. She tends her own highly varied garden, which includes several fruit trees, in Ames, Iowa.
Westside PropertiesWestside Properties is a full-service real estate boutique brokerage based in Pacific Palisades serving the entire Westside of Los Angeles. We proudly represent the finest properties throughout the Westside.
We work as a team and combine our extensive real estate experience, powerful resources and connections to benefit you whether you are looking you buy or sell a home in today’s exciting and lucrative real estate market.

Call us now to get started on the road to buying or selling your next home.
310.459.8191 or email info@wsprops.com
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To preview the finest real estate and the best deals on the Westside of Los Angeles including Pacific Palisades, Santa Monica, Malibu, Brentwood, Bel Air, Beverly Hills, West L.A., Marina Del Rey & Mar Vista please visit our website: http://www.westsidehomefinder.com/ When you are ready to view the properties or just have a question, please contact us: 310.459.8191 or info@wsprops.com
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Malibu History part 3

CHAPTER THREE

Malibu History Part one

Malibu History Part two

THE RINDGE FAMILY

Frederick Hastings RindgeFrederick Hastings Rindge was the only surviving son of six children of the Rindge family of Cambridge, Massachusetts. In 1883 he inherited his father’s estate which was in excess of $2 million. Four years later he married 22-year old Rhoda May Knight, and in the same year they moved to California.

In 1892 Frederick Hastings Rindge and May K. Rindge, the fourth and last owners of the entire Malibu Rancho, purchased this 13,330-acre Spanish Land Grant. They later expanded the ranch to 17,000 acres. It was the paradise Mr. Rindge had searched for in all his travels throughout the United States and Europe.

With the purchase of Rancho Malibu, Mr. Rindge realized his dream of the ideal country home: “A farm near the ocean, under the lee of the mountains, with a trout brook, wild trees , a take, good soil, and excellent climate, one not too hot in summer.” He built a large ranch house in Malibu Canyon (beneath present-day Serra Retreat) to serve as a headquarters for his Malibu Rancho. It was a working cattle and grain-raising ranch which through the many years of the Rindge dynasty was to become one of the most valuable large real estate holdings in the United States.

Mr. Rindge was a philosopher, poet, writer, and man of deep spirituality who loved to ride the reaches of his ranch, dream dreams and make plans. In 1898 he wrote a book, HAPPY DAYS IN SOUTHERN CALIFORNIA, in which he recounts his interesting and spiritually satisfying d in experiences of living on his Malibu ranch, an ‘ which he envisioned Malibu as an “American Riviera,” rivaling the seaside showplaces of Italy and France which he had visited.

The Rindge family consisted of three children: Samuel Knight Rindge, Frederick Hastings Rindge, Jr., and Rhoda Agatha Rindge. Their town residence was at 2263 Harvard Boulevard in Los Angeles and their ranch home was in Malibu Canyon which they visited on week-ends and parts of the summer when they were not vacationing in Marblehead, Massachusetts.

In 1903 their Malibu Canyon home was destroyed by a disastrous brush fire. Following the fire, the family built temporary tent houses and a cabin to provide kitchen and dining room for their Malibu accommodations.

Their idyllic days came to an abrupt stop two years later when Frederick Hastings Rindge died at the age of 48. He had accomplished much during his relatively short life. Soon after moving to California he donated land and funds to his native city of Cambridge, Massachusetts, for a public library, a city hall and an industrial school which later became known as the Rindge Technical School. In California he founded the Conservative Life Insurance Company which is now Pacific Mutual. He was a vice-president of Union Oil Company and a director of the Los Angeles Edison Electric Company (later Southern California Edison Company). His land investments included reclamation of bottom lands near Stockton and real estate holdings in the San Fernando Valley, in Los Angeles, and in the state of Sinaloa, Mexico.

As a staunch supporter of the temperance movement, Frederick Hastings Rindge was an unrelenting foe of the “Demon Rum.” He agreed to reimburse the treasury of the city of Santa Monica any deficit caused by the loss of saloon license fees when Santa Monica abolished saloons. He was President of the Harvard Club of Los Angeles and a member of many historical, archaeological, patriotic, and religious organizations which mirrored his interests. He established the First Methodist Episcopal Church of Santa Monica and wrote several books which were spiritual and meditative in nature.

May Knight Rindge had been a school teacher in Trenton, Michigan with a strong religious upbringing and beliefs. Following her husband’s death in 1905 she took over the management of her husband’s business affairs including the Malibu Ranch. She was involved in a number of bitter battles over nearly a quarter of a century in trying to keep Malibu intact. Her indefatigable spirit in these controversies earned her the legendary title of “Queen of the Malibu” from the press.

At the beginnings of her struggles, she was a widow with three teenage children. Toward the end, when the Coast Highway finally was built through her ranch, she was a 65-year old grandmother still intent on having a self-sustaining kingdom by the sea. To this end she started construction in 1928 of a great 50-room house on “Laudamus Hill” in Malibu Canyon overlooking the sea. There were to be three wings included; one for each of her three children and their families.

The same year she constructed a dam to store the precious water from Malibu Creek for use on the ranch. A few years earlier, she started Malibu Potteries (See Chapter Five) in an attempt to bring added revenue to her dwindling estate. Tiles made at Malibu Potteries were used extensively in the Rindge Castle on “Laudamus Hill” as well as in the ocean-front beach house built on “Vaquero Hill” (present Malibu Lagoon Museum) by her only daughter, Rhoda Rindge Adamson.

Over one-half million dollars in lumber, concrete, marble, tile and hand-carved mahogany were expended between 1929 and 1932 for her hill-top citadel by the sea. Due to financial problems the mansion was never finished.

May K. Rindge died on February 8, 1941, at the age of 76. At the time of her death, her precious land was still in insolvency and she was practically without funds.

Her unfinished “castle” ai-id its 26 acres along with thousands of beautiful Malibu Potteries tiles, stored in crates, were sold in 1942 to the Franciscan Order for $50,000 to become the Serra Retreat House. In 1970 the house and most of its irreplaceable tile were destroyed by a catastrophic brush fire pushed by the dreaded “Santa Ana” winds, which Mr. Rindge described in his book as:

    “… the fierce autumn wind storms, – dreaded, to be sure, but zephyrs, compared with cyclones. Three days they blow, and often precede a rain.”

The Franciscan Order rebuilt and continue to operate Serra Retreat as a haven of peace in the midst of modern-day California.

Though defeated by the pressures of population and progress (See Chapter Four), May K. Rindge left a legacy of spirit and courage that marks her as one of California’s history-shaping women.

THE ADAMSON FAMILY

May K. Rindge’s only daughter, Rhoda, as President of the Marblehead Land Company, regained what was left of the fabulous Rindge Ranch. Marblehead Land Company was the corporation formed in 1921 to operate the Rindge Ranch.

Rhoda Agatha Rindge grew up in Los Angeles but spent many happy days at the Malibu Ranch. She attended Wellesley College (where her parents had enrolled her at birth) for a year before returning to her beloved Malibu. Four years later, in 1915, she married Merritt Huntley Adamson. They had three children: Rhoda-May Adamson (Dallas), Sylvia Rindge Adamson (Neville) and Merritt Huntley Adamson, Jr.

Merritt Huntley Adamson, Sr. had grown up in Arizona and was the son of a rancher and legislator. The northern boundary of the Adamsons’ ranch touched the Havasupai Indian Reservation and Merritt was made a blood brother of that tribe. Thus, the origin of his nickname “Smoke” by which he was known for the rest of his life.

He attended the University of Southern California where he became captain of the last rugby football team on the campus. After graduating from the USC Law School and passing the Bar, he became Superintendent on the Malibu Ranch of Frederick Hastings Rindge.

Merritt’s interest centered in animal husbandry and dairying and so did Rhoda’s. Following their marriage, the Adamsons founded the Adohr Stock Farm as a model dairy to supply Los Angeles with the purest of milk. They reversed the spelling of “Rhoda” in christening their dairy operation, “Adohr.” Their eldest daughter, Rhoda-May, was the first “Adohr-able Baby,” for their advertising campaign.

By 1926 Adohr Creamery Company products were distributed throughout Los Angeles County and Adohr stock and products consistently won many top awards year after year. For many years, Mr. Adamson was a Director of the California State Board of Agriculture and a member of the National Certified Milk Producers’ Association.

The Adamsons built a beach house in 1929 on land given them by Rhoda’s mother. The site was Vaquero Hill-so called because a cowboy shack once stood there. (This is the site of the present Malibu Lagoon Museum.) They used the home as a beach house maintaining their permanent home in the Hancock Park area of Los Angeles from 1924 to 1936. In 1936 the beach home became their permanent residence.

Rhoda, like her mother, had a strong influence on Malibu’s future. She served the family interests with the same spirit and dogged determination which earned her a place of prominence in the history of Malibu. Like her mother she too had to take over the management of the family business. After her husband’s death in 1949, she became President of Adohr Milk Farms.

Since her husband had been on the Board of Directors of Marblehead Land Company, she assumed his position also. By June of 1951 all the debts had been paid following the reorganization of the company. The remaining 4,000 acres (out of the Rindges’ original 17,000 acres) reverted to Marblehead Land Company of which Rhoda Adamson was president.

Until her death in 1962, she remained at the helm of both the Adohr Milk Farms and the Marblehead Land Company. She proved a capable businesswoman, coping with many family as well as business responsibilities. It was under her able direction that Malibu affairs moved out of the shadow of the depression into the light of glowing achievement. The family businesses are now operated by her three heirs under the name The Adamson Companies.

Earthly paradises are fragile things often fought for with fervor to preserve. On the heels of her husband’s death May K. Rindge was immediately plunged into a struggle to keep various interests from gaining accesses across her ranch land. The conflict occurred with the railroad builders and then the highway builders. The following chapter tells how she dealt with each, changing the course of her lifestyle and ultimately the course of the development of Southern California.

Santa Monica Real Estate Blog – Tax Tips for Homeowners Looking Ahead to 2010 Returns

tax-tips-homeowners-2010Tax planning for homeowners should start well in advance of the April 15 filing deadline each year. If you delay until the last minute, it might be too late to maximize tax credits and tax deductions. These tax tips for homeowners looking ahead to 2010 returns explain some of the things you can do now that’ll pay off later on your 1040.

Take a day to formulate a tax plan for the year. Depending on your circumstances, you might want to take advantage of energy tax credits or max out your vacation home deductions. The “What’s New in 2010″ section of IRS Publication 17 offers a sneak peek at tax changes that might affect homeowners.

Claim remaining energy tax credits

It’s time to get cracking if you didn’t exhaust your full allotment of residential energy tax credits during 2009. Although tax credits for big projects like residential wind turbines and solar energy systems have no upper limit and are good through 2016, energy tax credits capped at $1,500 expire at the end of 2010. Eligible capped projects include new windows and doors, insulation, roofing, water heaters, HVAC, and biomass stoves.

Here’s how it works with capped federal credits: You can earn energy tax credits worth 30% of the cost of qualifying improvements, but the total tax credits can’t exceed $1,500 combined for 2009 and 2010. So if you only took, say, $700 worth of capped energy credits on your 2009 tax return, you’re still due for another $800 in credits in 2010. Some projects include the cost of installation-a furnace, for example-while others, such as insulation, are limited to the cost of materials.

Max out tax benefits of a vacation home

Use a vacation home wisely, and it’ll provide a break from taxes as well as the hustle and bustle of everyday life. The rules on tax deductions for vacation homes can get a bit tricky, but understanding and adhering to them can yield many happy tax returns.

If your vacation home is truly a vacation home meant for your personal enjoyment, as opposed to a rental-only income property, you can usually deduct mortgage interest and real estate taxes, just as you would on your main home. You can even rent out the home for up to 14 days during the year without getting taxed on the rental income. Not bad.

Now, let’s say you want to rent out your vacation home for more than 14 days in 2010, but also use it yourself from time to time. To maximize the tax benefits, you need to keep tabs on how many days you use your vacation home. By restricting your annual personal use to fewer than 15 days (or 10% of total rental days, whichever is greater), you can treat your vacation home as a rental-only income property for tax purposes.

Why is that a big deal? In addition to mortgage interest and real estate taxes, rental-only income properties are eligible for a slew of other tax deductions for everything from utilities and condo fees to housecleaning and repairs. Deductions are limited once personal use exceeds 14 days (or 10% of total rental days), so get out your calendar now to strategically plot your vacations.

Take advantage of tax breaks for the military

In salute to members of the armed forces serving overseas who want to purchase a home, the IRS is extending a lucrative tax perk for military personnel. If you spent at least 90 days abroad performing qualified duty between Jan. 1, 2009, and April 30, 2010, you have an extra year to earn a homebuyer tax credit. In addition to uniformed service members, workers in the Foreign Service and in the intelligence community are eligible.

Thanks to this extension of the homebuyer tax credit, qualifying military personnel have until April 30, 2011, to sign a contract on a new home. The deal must close before July 1, 2011. Just like non-military buyers, first-time homebuyers can earn a tax credit worth up to $8,000, and longtime homeowners can earn a credit of up to $6,500. The same income restrictions and $800,000 cap on home prices apply.

Military personnel can also get a break if official duty calls and they’re forced to move for an extended period. Normally, the homebuyer tax credit needs to be repaid if you sell your home within three years, but this requirement is waived for uniformed service members, Foreign Service workers, and intelligence community personnel. The new extended duty posting doesn’t need to be overseas, but it must be at least 50 miles from your principal residence.

Challenge your real estate assessment

You can’t do much about the rate at which your home is taxed, but you can try to do something about how your home is valued for taxation purposes in 2010. The process varies depending where you live, but in general local governments conduct a periodic real estate assessment to determine how much your home is worth. That real estate assessment figure is used to calculate your property tax bill.

You can usually appeal your real estate assessment if you think it’s too high. Contact your local assessor’s office to find out the procedure, and be prepared to do some research. There’s often no charge to request a review of your assessment.

Look for errors. You probably received an assessment letter in the mail, and many local governments provide the information online as well. Make sure the number of bedrooms and bathrooms is accurate, and the lot size is correct. Also check the assessed value of comparable homes in your area. If they’re being assessed for less than your home, you might have a case for relief.

Even if your assessment is accurate and comparable homes are being taxed at the same rate, there might be another route to tax savings. Ask your assessor’s office about availableproperty tax exemptions. Local governments often give breaks to seniors, veterans, and the disabled, among others.

Westside Properties

Westside Properties is a full-service real estate boutique brokerage based in Pacific Palisades serving the entire Westside of Los Angeles. We proudly represent the finest properties throughout the Westside.
We work as a team and combine our extensive real estate experience, powerful resources and connections to benefit you whether you are looking you buy or sell a home in today’s exciting and lucrative real estate market.

Call us now to get started on the road to buying or selling your next home.

310.459.8191 or email info@wsprops.com

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To preview the finest real estate and the best deals on the Westside of Los Angeles including Pacific Palisades, Santa Monica, Malibu, Brentwood, Bel Air, Beverly Hills, West L.A., Marina Del Rey & Mar Vista please visit our website: http://www.westsidehomefinder.com/ When you are ready to view the properties or just have a question, please contact us: 310.459.8191 or info@wsprops.com

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Playboy Magazine Founder, Hugh Hefner, Saves the Hollywood Sign!

Finally, good news about the Hollywood Sign which was facing removal by a developer to build homes.

This video and article was retrieved from ABC Los Angeles News…
HOLLYWOOD, Calif. (KABC) — The fog lifted over the Hollywood sign on Monday morning, and so have all the doubts about the future of the land surrounding it. Playboy founder Hugh Hefner came to the rescue, donating nearly $1 million to save the Hollywood sign from urban sprawl.

“All of us here who love the sign, and those who admire it from around the world, say hats off to Hugh for keeping the dream alive on Mount Lee,” said Hollywood Sign Trust Chairman Chris Baumgart. The Hollywood sign is located on the southern side of Mount Lee in Griffith Park.

Gov. Arnold Schwarzenegger joined city officials to announce the news, ending efforts by conservationists to preserve 138 acres of land behind the Hollywood sign. “It’s not just to preserve the land around it, but also to protect the environment,” Schwarznegger said during a news conference. “The Hollywood sign will welcome dreamers and artists and Austrian body builders from around the world to continue coming over here for generations to come.”

Two years ago, developers put the land on the market for $22 million and advertised it as a great location for luxury homes, which prompted the Save the Peak campaign. Councilman Tom LaBonge partnered with the Trust for Public Land and made a deal with the landowners to sell it for $12.5 million.

Officials said Hefner wrote a check for $900,000, which covered the remainder of the $12.5 million needed by Friday. More than half of the money came from private donations, and the rest came from local and state government. In a statement, Hefner said, “The Hollywood sign is Hollywood’s Eiffel Tower and I am pleased to help preserve such an important cultural landmark.” The land around the Hollywood sign had been zoned to build luxury homes, but now, the land will become part of Griffith Park and the city of Los Angeles. “We have today a true Hollywood ending. We saved the peak,” said Will Rogers, president of the Trust for Public Land.

Westside Properties

Westside Properties is a full-service real estate boutique brokerage based in Pacific Palisades serving the entire Westside of Los Angeles. We proudly represent the finest properties throughout the Westside.
We work as a team and combine our extensive real estate experience, powerful resources and connections to benefit you whether you are looking you buy or sell a home in today’s exciting and lucrative real estate market.

Call us now to get started on the road to buying or selling your next home.

310.459.8191 or email info@wsprops.com

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To preview the finest real estate and the best deals on the Westside of Los Angeles including Pacific Palisades, Santa Monica, Malibu, Brentwood, Bel Air, Beverly Hills, West L.A., Marina Del Rey & Mar Vista please visit our website: http://www.westsidehomefinder.com/ When you are ready to view the properties or just have a question, please contact us: 310.459.8191 or info@wsprops.com

Search for homes in your city:

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Santa Monica Real Estate Blog – Wild Wednesdays

Happy Hump day everyone! I hope you are having a good and productive week thus far. Here is the Wednesday breakdown….

Westside Weather:

  • Santa Monica, CA Partly Cloudy
    55°F Current: Partly Cloudy
    Wind: SW at 3 mph
    Humidity: 94%
  • Beverly Hills, CA Partly Cloudy
    55°F Current: Partly Cloudy
    Wind: SW at 1 mph
    Humidity: 89%
  • Pacific Palisades, CA Partly Cloudy
    55°F Current: Partly Cloudy
    Wind: SW at 3 mph
    Humidity: 94%
  • Malibu, CA Partly Cloudy
    53°F Current: Partly Cloudy
    Wind: NW at 9 mph
    Humidity: 88%
  • Brentwood, CA Mostly Cloudy
    58°F Current: Mostly Cloudy
    Wind: W at 2 mph
    Humidity: 84%

Top Stories via Google News

How to of the Day

Places to See – Joshua Tree National Park, California

Joshua Tree National Park

Joshua Tree National Park, located in the Southern California Desert, encompasses nearly 800,000 acres of the Mojave and Colorado Deserts, conserving two separate desert ecosystems at different altitudes. The name of the park is derived from the distinctive Joshua Tree, a tall-growing variety of the yucca genus that grows prevalently within its boundaries.

Westside Properties

Westside Properties is a full-service real estate boutique brokerage based in Pacific Palisades serving the entire Westside of Los Angeles. We proudly represent the finest properties throughout the Westside.
We work as a team and combine our extensive real estate experience, powerful resources and connections to benefit you whether you are looking you buy or sell a home in today’s exciting and lucrative real estate market.

Call us now to get started on the road to buying or selling your next home.

310.459.8191 or email info@wsprops.com

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To preview the finest real estate and the best deals on the Westside of Los Angeles including Pacific Palisades, Santa Monica, Malibu, Brentwood, Bel Air, Beverly Hills, West L.A., Marina Del Rey & Mar Vista please visit our website: http://www.westsidehomefinder.com/ When you are ready to view the properties or just have a question, please contact us: 310.459.8191 or info@wsprops.com

Search for homes in your city:

PACIFIC PALISADESSANTA MONICAMALIBUBRENTWOOD

BEVERLY HILLSWESTWOOD/CENTURY CITYMARINA DEL REY

VENICE TOPANGA - CULVER CITYPLAYA DEL REYPLAYA VISTA

WEST L.A.BEL-AIRBEVERLY HILLS POBEVERLY CENTER/MIRACLE MILE

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Your Pacific Palisades Real Estate Updates for 4/24/2010

Josh Barre & Dom Naidoo
WestsideHomeFinder.com
881 Alma Real Drive, Suite T-25
Pacific Palisades, CA 90272

Office: 310.459.8191
Toll Free: 800.645.3345
Fax: 310.494.0169
www.westsidehomefinder.com
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12 of 12 new properties | View all these results now | feed-icon-16x16.png

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$639,000 – 17179 Palisades Cir Pacific Palisades, CA 90272
2 Beds, 2 baths
Size: 1,332 Sq Ft
Lot Size: 00 Sq Ft
Community: Pacific Palisades

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$2,950,000 – 16157 Anoka Dr Pacific Palisades, CA 90272
6 Beds, 4 full 2 part baths
Size: 5,200 Sq Ft
Lot Size: 11,700 Sq Ft
Community: Pacific Palisades

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$1,299,000 – 16123 Sunset Blvd 105 Pacific Palisades, CA 90272
4 Beds, 3 full 1 part baths
Size: 2,740 Sq Ft
Lot Size: 00 Sq Ft
Community: Pacific Palisades
Tract: Cust

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$299,000 – 8 Samoa Pacific Palisades, CA 90272
2 Beds, 2 baths
Size: 1,160 Sq Ft
Lot Size: 3,900 Sq Ft
Community: Pacific Palisades

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$28,750,000 – 1253 Amalfi Dr Pacific Palisades, CA 90272
6 Beds, 7 baths
Size: 11,606 Sq Ft
Lot Size: 48,350 Sq Ft
Community: Pacific Palisades

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$1,475,000 – 522 Almar Ave Pacific Palisades, CA 90272
5 Beds, 2 baths
Size: 2,262 Sq Ft
Lot Size: 7,230 Sq Ft
Community: Pacific Palisades

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$3,849,000 – 14911 Altata Dr Pacific Palisades, CA 90272
4 Beds, 5 baths
Size: 4,390 Sq Ft
Lot Size: 9,844 Sq Ft
Community: Pacific Palisades

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$1,075,000 – 939 Galloway St Pacific Palisades, CA 90272
2 Beds, 2 baths
Size: 00 Sq Ft
Lot Size: 5,200 Sq Ft
Community: Pacific Palisades

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$1,800,000 – 17731 Calle De Palermo Pacific Palisades, CA 90272
4 Beds, 4 baths
Size: 3,913 Sq Ft
Lot Size: 32,300 Sq Ft
Community: Pacific Palisades

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$19,500,000 – 668 Chautauqua Pacific Palisades, CA 90272
5 Beds, 7 full 5 part baths
Size: 11,544 Sq Ft
Lot Size: 43,342 Sq Ft
Community: Pacific Palisades

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$1,425,000 – 650 Palmera Ave Pacific Palisades, CA 90272
3 Beds, 3 baths
Size: 2,468 Sq Ft
Lot Size: 5,210 Sq Ft
Community: Pacific Palisades

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$5,500,000 – 922 Chautauqua Pacific Palisades, CA 90272
7 Beds, 6 full 1 part baths
Size: 5,600 Sq Ft
Lot Size: 14,505 Sq Ft
Community: Pacific Palisades

Westside Properties
Westside Properties is a full-service real estate boutique brokerage based in Pacific Palisades serving the entire Westside of Los Angeles. We proudly represent the finest properties throughout the Westside. We work as a team and combine our extensive real estate experience, powerful resources and connections to benefit you whether you are looking you buy or sell a home in today’s exciting and lucrative real estate market.
Call us now to get started on the road to buying or selling your next home.
310.459.8191 or email info

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To preview the finest real estate and the best deals on the Westside of Los Angeles including Pacific Palisades, Santa Monica, Malibu, Brentwood, Bel Air, Beverly Hills, West L.A., Marina Del Rey & Mar Vista please visit our website: info

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