Saturday, May 17, 2008

Jeff Lewis Rides Again

SELLER: Jeff Lewis and Ryan Brown
LOCATION: Valley Oak Drive, Los Angeles, CA
PRICE: $2,995,000
SIZE: 3,024 square feet, 3 bedrooms, 3.5 bathrooms
DESCRIPTION: At the end of a gtd cul de sac, this 60’s post & beam modern has been remarkably renovated w/clean lines, open spaces. Pvt gtd drive. Vus of Hollywood to the ocean. Spacious fam rm w/access to pool/spa. Expansive outdoor space. Mstr w/oversized bath, diva walk-in closet. Finishes incl pilang hrdwd flrs, custom bths & kit, Venetian plaster, Fleetwood drs, windows. Nu systems incl comprehensive security w/cameras, plasma tvs, whole house audio system. 3 car garage, add’l off-street parking.

YOUR MAMAS NOTES: Your Mama as been sitting on this property for a couple weeks now for no other reason that we just haven't gotten around to discussing. Too bizzy. Too preoccupied. Too many other more important properties? Anyhoo, all the children who viewed that deelishus and fa-bew-lus emotional train wreck of a house flipper Jeff Lewis on the Bravo's Flipping Out program will surely recall that this is the project that Mister Lewis and his ex-beaufriend turned bizness partner Ryan Brown began at the end of the last season.

According to all the commercials flooding the boob toob recently, all the real estate obsessed folks like Your Mama will soon be blessed with a new season of Flipping Out, so Your Mama thought it might finally be time to discuss this property in Los Feliz's desirable Oaks neighborhood. The house sits way up Valley Oak Drive and there are three things Your Mama thinks the children ought to know about Valley Oak Drive:

1. It's gated...not guard gated, but gated none the less, so no paps or looky-loos roaming around trying to get a look at famous residents puttering on the front lawn or dead-heading there tiger lilies.
2. The house Jeff Lewis lived in (and sold) on the last season of Flipping Out is located on Valley Oak Drive.
3. The Brad Pitt/Angelina Jolie compound is wedged between Valley Oak Drive and Briarcliff Road. Make of that what you will.

Property records show that entrepreneurial and mercurial Mister Lewis and his much less colorful bizness partner Ryan Brown purchased this 3,024 square foot 1960 post and beam in March of 2007 for $1,710,000. If our memory serves correct, and it may not at this early point in the morning, they did a fair amount of demolition of the interior spaces before they put it back together again in a behemoth blaze of beige, brown and white...which is pretty much what they always do on their mid-priced flip properties, isn't it? As the naughty stripper in Gypsy says, "You gotta have a gimmick."

Here's the thing...if Your Mama is being honest, and we always are, we are worn out by and weary of this particular house flipping gimmick. While there's little to beef about because everything is so damn bland and neutral (except for that tragic two tone sofa in the living room which is a punishable offense) Your Mama is dun–D.U.N.–with this sort of W Hotel meets a Calvin Klein outlet store sort of interior day-core. Sorry Mister Lewis...we love you and your crazy ways, and clearly you know how to make the big bucks flipping houses, however Your Mama would really like to see you expand your repertoire beyond beige. Would it kill someone in the Lewis camp to toss in a little color here and there? Seriously? A little blue rug or some green glass objet d'art? Would that really be so terrible?

Anyhoo, given that all the beige furniture and brown fabric are part of the meticulous but over-zealous staging of the property and will be removed when a new owner moves in, let's try to see beyond the beige to the the house itself.

Listing information indicates there are 3 bedrooms and 3.5 bathrooms in the modestly sized mini-manse that more then a little resembles a motel...an aesthetic reference we don't actually mind that much. A second gate at the bottom of the driveway further ensures the security and privacy of the new owners and listing information indicates that all new systems were added including a comprehensive security system with cameras (more peace of mind for the most paranoid), a whole house audio system and more wall mounted plasma televisions than Your Mama cares to count.

Other notable features of the hillside property include long decks running the length of the house that provide an excellent spot to smoke a post-dinner doobie while gazing over the glittering lights of Tinseltown. The master bedroom includes floor to ceiling glazing, a big bathroom with one of those egg shaped soaking tubs that cost a fortune but would never be used by Your Mama or the Dr. Cooter (who do not like to sit in their own filth), and last but certainly not least a "diva" walk in closet. Oooo gurls, looky here, we got a "diva" walk in closet for all the queens who like to line up their sweaters like they live in a Benetton boo-teek. You know that's gonna bring them running up the hill in their Gucci loafers and Range Rovers.

Your Mama isn't usually fond or friendly about a front yard masquerading as a backyard, but we certainly understand why in this particular case it was the right thing to do (the view). We can appreciate the arrowhead shaped swimming pool and we can imagine that pool deck is a lovely spot to soak up some sun and read all the gossip glossies. But it's also a long haul to the kitchen from the pool deck so we hope that Mister Lewis and Mister Brown have installed a mini-bar with a refrigerator near the pool because Your Mama is too damn lazy to haul our fat ass up all them stairs to the kitchen whenever we need to refresh our pitcher of gin and tonics.

Given the somewhat topsy-turvy state of the market in Los Angeles, Your Mama really hasn't a clue whether this house is priced right or not. We're certain all the Chicken Littles will say it's worth $800,000 and we're sure all the Los Feliz property owners will say it's a steal. The truth may if fact be somewhere in between. Whatever the case, it is Your Mama's humble opinion that if you like livin' in Los Feliz and have several million clams to spend on a house, you could certainly do worse than this.

106 comments:

Anonymous said...

I like this house, and being practical to a fault, the view, spacious and open interior spaces including the kitchen, numerous new amenities, and gated Los Feliz cul-de-sac location, make this a much more attractive potential buy for me than the Ryan Murphy house. All that and a full $1 million less than Murphy's home too - `nuff said.

caveman said...

jeff & his wakpak,
you gotta love that show

sandpiper said...

7:00, you took the words right out of my mouth...views, interiors, location, and preference of it over the Murphy house. Exactly!

Beyond that, what's up with those high perched shelves flanking the fireplace, the artwork mounted so high and the sea of beige? I respect -- not necessary agree with -- neutral surfaces and decor, but seriously, would a bit of soft spot color really hurt.

Jeff, could you reconcile with budgeting somebody for two hours and $300 to accessorize? Maybe a little Tiffany blue (coverlet for bed and three or four well placed pillows)?

PS, hi CB <3

Alessandra said...

I think I like the Ryan Murphy house a little more in some ways and this one a little more in others. The kitchen here is clearly superior. it has a good lay out, recognizable counter space and suits the home. Seeing beyond all the beige, someone with a smidgen of color sense could come in and do wonders.

The exterior of this house leaves me cold, though. It just looks like a hopped-up suburban tract home from 1965.

The pool shape is pretty, but not nearly as functional as a lap pool, which I prefer as an active swimmer.

It looks like a case of "to-may-to"/ "to-mah-to" to me in terms of which property is going to tweak your mid-century modern jones.

lil' gay boy said...

Normally I love a nicely executed contemporary home, but, this one, um, not so much.

I understand when flipping a home that decor goes out the window when genericism flies in, but the actual structure of the house leaves much to be desired, from the oddly placed clerestory windows that seem to be an afterthought, to that hopeless pool surround.

It may have spectacular views, but then so does a Motel 6 along Roanoke Parkway, which this resembles much too closely.

" . . . we'll leave a light on fer ya . . . ",


Yikes.

Anonymous said...

Enjoyed your comment alesandra and you make some good points, thank you. If the decison boiled down to a designer verses a view home for me, I'd be inclined to go for the view. I'd cosmetically improve the exterior, and have to replace the white privacy fencing surrounding the pool area with another alternative though. That feature cheapens the look to me. Perhaps something that vines could climb on and cover eventually, softening and blending it into the view.

Anonymous said...

This house was open last weekend and some friends saw it then called us. We didn't make it over. I'm pretty sure the access is off Canyon Drive so "oaks snobs" are going to say it technically isn't in The Oaks.

There is a compound of houses off Canyon that is currently listed for 5+ million. If anyone can come up with the story on that property, it's Mama. I would love to know who accumulated that property. It looks amazing on the web.

so_chic_darling said...

I like his attention to detail and that if you buy one of his places you're not going to have to worry about anything.
Just put in your own furniture and have some sort of ivy or vine on the front of the house.I like it,plus as everyone else has said,in LA it's always about the view.

pch said...

I dunno. Think I'm gonna be the contrarian here.

There's nothing particularly bad about the place, but it'd still be dullsville (to my eyes) even if you undid Lewis' bland-inization project. Ho-hum exterior lines cluttered by over-busy railings. nothing very compelling about the interior spaces. Can't stand that railroad-tie look of the steps to the pool, and hate the frosted glass enclosure even more. Again, none of the above is inherently wrong. I just wouldn't bother getting out of the car to take a look. And maybe what it comes down to is not sharing Lewis' vision...I don't usually love the houses he chooses, and I would change most of what he does to them.

Alessandra said...

I adore contrarians.

I don't hate it as much as you do, pch, but I have a feeling I prefer Ryan Murphy's place. Would have to actually see both to make a final determination, of course. MLS photos are notoriously misleading.

Brooklawn Dr. said...

It's horrible. There, I said it.

It looks cheap and tawdry. Can any of you REALLY imagine living there? 6 months in, and the new owner will have a heavy case of regret.

sandpiper said...

pch, now that you point out the deeper layers -- and I hadn't planned to go there -- I agree with railings, both at the window deck and pool surround. I would have gone for a transparent Malibu-type floating barrier. Please appreciate I've been distanced from California architecture for a while, ergo lowering my bar on the small details that may or may not be found within glass house properties. These homes are few and far between in the Midwest. That said my reach to fly-spec is desperately satisfied.

Alessandra, I love so much about the Ryan abode. My big gripe is really the master bedroom. I appreciate fine wood, but that wall -- for me anyway -- seems like a bachelor pad. I luv the concept of form following function. To that end, the Ryan house seems decidedly masculine; none the less extremely well executed, sans need for a revisit to kitchen details.

Anonymous said...

I agree with alot that's been said here. Interesting reading today. My thoughts are you can always change architectural details, but no amount of money can buy a view like this home has where it dosen't exist. So I'd buy this house and use the $million saved on the Ryan house to create the best of both worlds.

Anonymous said...

Los Feliz?? why would anyone want to live there?

Unless you employ some mexican maid around the corner that you can bang daily.

Anonymous said...

3:00=PIG

Coreigh said...

Poor Mr. Lewis already reduced this "modern" pad $200k. As a few weeks back when it was first listed it was a wee-bit under the $3.2mm mark.

Jeff & Ryan's particular fondness of Los Feliz and forcing homes into fitting this conetemporary style still puzzles me a bit. While the house is beautiful, (if this psuedo contemporary architecture is your thing), I think it leaves alot to be desired.

However, for the price and location, someone will find themself a good home.

You can check out a full photo tour and more details on the home here....

www.valleyoakdrive.com

Anonymous said...

It is a real shame that Jeff Lewis and others are still at the party that was over last week.

I wish them luck but remodeling, fixing up a home is not really motivating anyone to overpay anymore.

A majority of the ones who did have the means to overpay are now homeless, in jail or left our country and went back to theirs.

The banks are lowering appraisals way down, which means a loan is out of the question so only a cash buyer would be able to buy the property and from what I hear cash buyers are still waiting on the sidelines.

I think it is going to be on the market for a long long long time.

Then again who knows ?

Anonymous said...

thanks to people who provide links to bigger pictures.
Colour is personal taste, I find a sea of neutrals far nicer to live in and can do without the splashes of colour here and there, like someone screaming in my ear.
I like the landscaping, it's like a little rocky fairyland.

Cameronj@usc.edu said...

See, I'm disappointed. They took what was a beautiful, interesting midcentury house in a gorgeous neighborhood and turned it into the kind of "cookie-cutter-chic" monstrosity that inhabited by many a gay man on the other side of town. I hope it sells, and quickly, but next time, would it be so difficult to add a bit of personality to one of these homes? We know he can do a sensitive restoration...perhaps if he'd just try...

Cameronj@usc.edu said...

See, I'm disappointed. They took what was a beautiful, interesting midcentury house in a gorgeous neighborhood and turned it into the kind of "cookie-cutter-chic" monstrosity that inhabited by many a gay man on the other side of town. I hope it sells, and quickly, but next time, would it be so difficult to add a bit of personality to one of these homes? We know he can do a sensitive restoration...perhaps if he'd just try...

Anonymous said...

How is this for revenge of the bankers

Lenders are now asking for 5-7 recent com parables in the high end market.

The problem is that the 7MM home I want so get has had no recent sales in the area.

Even with a 2MM reduction they still told me no loan.

The bank says the place I want to get is worth 1MM

WTF ?????

I might as well offer cash for the place, I already have 2MM to put down on the place.

Ima Doll said...

that is a load of horse shit.

even a moron can check trulia and see what's selling in what areas and for how much...and guess what?

sales may not be as plentiful or brisk, but multi million dollar homes are selling all the time.

my "research" which is not by any stretch academic, shows properties in the lower levels having a more difficult time.

whoever that anon is is just trying to be antognistic. and it works.

Anonymous said...

Jeff Lewis is a freak I love.

Barren Karen said...

It's because the inside of his head is in a constant OCD turmoil.

Anonymous said...

$3m for this remodelled Motel 9?

$3m goes along way in other cities and countries. It's about time you Americans wake up and smell the coffee and move to another country. But I understand that cannot be done because you guys are lazy and don't want to work, want to live around the corner from the inlaws and be 5 minutes drive to the nearest McDonalds.

What makes L.A so great? the jobs out there are crap. Move to Sydney, Australia.

Anonymous said...

Anon 6:08.

You're an idiot. Most of the most expensive areas in the world are NOT in the US. Try London, Tokyo... etc. They are all FAR more expensive than even NYC.

So to attack American's for "high prices" is pure ignorance. Get a clue.

Anonymous said...

Who left the troll gate open again? I think I heard Mamas spoon drawer opening.

Anonymous said...

Ima a doll

Tell that to the bank

they are not as excited as they were a few months ago and it is now a reality, they are picking apart appraisals like never before, remodels do not count, add ons do not count, what they are looking at is what the 5 comps sold for in the neighbor hood in the last few months.

My loan officer even told me off the record to wait a few more months, she said sooner than later the sellers are going to finally get it and drop their prices way way way down esp now that the banks are not buying into their hype.

Now I am beginning to wonder how many of these high end homes are actually paid for with cash vs loans.

If a bank refuses to give out a loan on a 7MM property what is the property really worth ?

if the seller brings it down to 5MM but the bank says it is worth what it was appraised for in 2001, which was 1MM, what then ?

Like I said before tell it to the bank not me, I am all for the prices they are listed at now, I do not want to wait for them to come down, that could take years and what do I during that time ?

rent ? I want to own !! I want to throw big parties at the new place, I want to live the hollywood lifestyle !!!

Ed from westwood said...

Ima Doll said...

that is a load of horse shit.

even a moron can check trulia and see what's selling in what areas and for how much...and guess what?

Well Ima Doll

I just went on trulia and it looks like nothing in the 7MM range 90046 area code (sunset strip area) has sold in the last 3 months sorry.

So this anon may have a point.

so tired said...

Here you go, avg asshole/ed, trying again to create conversation within your personas. F-off. Give it up. Nobody cares.

Anonymous said...

Thank you Ed

"So tired"

Mate I will not insult you, rather I want to show you my frustration,

Another property I was looking at recently, the owner is asking a around 6MM the place looks amazing modern, brand new 180 degree views and yet zillow is putting it's value at around 1.5 MM

Now you cannot deny that there is a HUGE price gap between 1.5 and 6MM.

Further more again none of the homes in the area that are in the same price range have sold in the last 3 months.

I want to get this place now and so I went to the bank for a loan, they said no to the 6MM loan although I had 2MM to put down, they agreed to give me 1.5MM (their assessed value of the home) so I had 3.5MM to work with.

I went to the owner with the 3.5MM offer
and he thought it was an insult so the loan fell apart and the home is still on the market.

This my friend is a new emerging problem, the banks have started to take appraisals apart and go over them with a fine tooth comb and they have no interest in helping to finance a high end property at it's asking price like they were doing before.

This is what we call a Cluster F****

Anonymous said...

there should be a qualification required before people are able to post here, my god, such misinformation... there are two homes and probably more that are currently in escrow for 7m pluse, and by the way,90046 IS NOT THE SUNSTSTRIP, 90069 andthe best of the strip is the taniger, bluejay, thrasher, thats the "carbon beach " of the hills as one said on here and there are two homes in escrow there right now,over 7m have been for over 2weeks, and another on risinglenn in escrow over 7m so do your research before posting

Anonymous said...

90046 is sunset plaza blue heights, cole crest drive appian way, viewmont

so you are way off

I believe he said 90046 not 90069

I also have a feeling the one he is talking about is 3000 sqft or less, they may be the ones on blue heights, cole crest, viewmont, in those areas

Anonymous said...

He also did not say in escrow, he said "sold" a big big difference

"if only it was 2006 again sigh"

Anonymous said...

blue heights, colecrest ,is not prime, the houses selling on viewmount are "special deals" not what they appear, the multiple offers are occurring in the prime areas and trousdale, there is tons of cash out there. tons... people buying 6 7, 10 million dollars homes are buying all cash or they need min. 30%down wiht financials and much more for e.z qual, enough of the doom and gloom being posted on here my i amsure people living in studio apartments in tarzana, they are the "chicken littles" they never bought anything cause of fear and they never will, cause it will never be ther right time, it will "always be going to go lower" same people in the stock market, i knew a woman who looked for years at realestate before this boom, never ever bought, very negative woman, and the realtor who loved his coctails, summed her up best just before he dumped her... "she will not be happy till the seller is bleeding in the driveway and handing over the keys, she will drive off and say, will he go lower? perfect. fyi she still rents in bevhills, and low and behold, she is now a realtor, and a very angry one

Anonymous said...

anon 10 34 you are correct the homes I am interested in are in the 90046 zipcode

and it is really hard to convince a loan officer that a 6MM home that zillow says is worth 1.5MM is worth 6MM or close to that especially now and it make matters worse when the 5 comps ,have not sold at that price or close to it in the last 3 months.

I am sure you will hear about this problem in the news very soon.

as far as 90069 that is the BH area so maybe the banks are looking at that area in a different way ?

so tired of joe/ed said...

8:15/9:04/9:47/10:29/10:34/10:38/10:45=avg joe/ed:

Anything odd about this time pattern. You loser, joe/ed/troll. F-off.

Anonymous said...

hey, i amnot ed, or whoever, just someone who knows about this stuff. 90069 is not beverly hills either, who is this guy? no appraiser i know uses those stupid sites for values, most do not show the updated sq. ft. and improvements, so if a 2000 sq ft shack has been replaced by a 5000 sq ft new or remodeled house, it does not pick that up, till it sells, so all those sites are useless, no good appraiser would use them and all appraisers drive the comps and speak with the realtors ,some who will talk and help, thats how appraising is done, the records are most often misleading, the high end appraisers know to get the inside scoop, a property can be on a 15,000 sq ft lot but only 5,000 be usable, makes a huge difference in value, the sloping part is useless. anyway, mr.ed, or mr. joe, mabye you are here jsut to stir things up, but at least do it with some basic knowledge then we can all have fun, your posts so far make no sense, quote some facts, articles, references, then will give you your due.....

Alessandra said...

Isn't 90069 WeHo?

Whatever.

Yes, the market is not red hot the way it was in 2005, but the desirable areas are still holding their value. If you're looking for a 50% price drop, go buy a real-estate owned tract home in Palmdale or Riverside.

True that some buyers want the seller to be lying bleeding in the driveway so they can run them over and stab them and set them on fire. What those buyers never realize is some day, they're going to have to sell that home. I'm a believer in karma.

Damn, I can't believe I'm so bored as to respond to this crap.

Anonymous said...

Here is a quote, and I do not think that banks are takings appraisers at their word anymore

Lenders tighten loan rules, demand more money down

"The days of simply stating your income are over," said B.J. Perez, mortgage broker and owner of Monarch Mortage in Sparks. "You have to be able to prove income and prove that you have money in the bank."

"Banks are just picking apart the appraisals on houses right now," Wiseman said. "I've seen several cases where the bank doesn't accept the appraisal and the loan just tanks."

"Now, lenders want proof of income, proof of how much money you have and proof of where that money is coming from. Now, they're only making loans that make sense."

Anonymous said...

I lived at the top of thrasher off of doheny and my zip code was 90069 and it is in the hills right above where BH starts, so technically I would say it is the BH area or at least BH adjacent.

Anonymous said...

unfortunately alot of real estate professionals took alot of imagination with the term "sunset strip" i have seen places in laurel cyn , advertised as sunset strip. thats a stretch, sorry, so is thrasher being bevhills adjacent, its misleading and why bother, thrasher is a primo street, there are some "shacks" but its prime area, as you can see right now with whats happening, and it sure does not hurt if a celebrity lives on your street, provided that celebrity is not gary colemen, well, maybe, i am always amazed the value it gives to have a celebrity be on the street.its almost worth it to pay some down and out celeb to to move in for awhile, anyone know how to reach rula lenska?..

Anonymous said...

sorry, thrasher is not even adjacent, one would need to jog at least 3miles to the west and even then you might be in parts of bev hills P.O. not bev hills real, the real bev hills 90210 has all the ammenities of a wealthy city, so even the P.o. does not count, the best is the best, and thats whats selling for top dollar the primo properties are getting top dollar, those on the "real sunset strip" and those in the "real bevhills" why would anyone wiht the bank settle for less. the sellers if they want to sell are not being crazy crazy, they want to sell, but they are getting great prices

lil' gay boy said...

Zzzzzzzz . . .

Anonymous said...

cool, we have a nelly checking in with their profound thoughts as always.lets just fastforward to the lastest party news sorry for the delay

ed from westwood said...

Then again I read in big time listings that sharon stone has now lowered her estate to 10MM which is almost a million dollars less than what she paid for it and it is in BH so maybe it is not so immune or prime after all ?

They say she paid 10,995,000 for it in 2006.

I wonder if she will have recourse with the previous owner ?

ed from westwood said...

excuse me a partial refund on the final selling price ?

Anonymous said...

Anybody still questioning "ed from westwood" being multiple people? At 9:04am, he wrote

"I just went on trulia and it looks like nothing in the 7MM range 90046 area code (sunset strip area) has sold in the last 3 months sorry."

Uh... The original poster hadn't said where the 7 million dollar house was yet. For all "ed" should have known, it was in Kansas.

At 9:47, the anon said the house is still on the market. Should be easy enough for him to post the listing for all of us to see. Wonder if he is willing....

Anonymous said...

"Another property I was looking at recently, the owner is asking a around 6MM the place looks amazing modern, brand new 180 degree views and yet zillow is putting it's value at around 1.5 MM"

This sounds like he could be talking about 2626 Zorada but even Zillow (which is not the same as a real appraisal is saying 2.5m, not 1.5m).

Try again Joe/Ed

Anonymous said...

Joe/Ed's comment = Lenders tighten loan rules, demand more money down

"The days of simply stating your income are over," said B.J. Perez, mortgage broker and owner of Monarch Mortage in Sparks. "You have to be able to prove income and prove that you have money in the bank."

"Banks are just picking apart the appraisals on houses right now," Wiseman said. "I've seen several cases where the bank doesn't accept the appraisal and the loan just tanks."

"Now, lenders want proof of income, proof of how much money you have and proof of where that money is coming from. Now, they're only making loans that make sense."

Those comments by professionals make sense. YOURS is only a half truth. None of those three comments by professionals say anything about increasing down payments.

They all say what should have been true all along - You have to show proof of income, you have to prove your cash is YOURS, not your sister's boyfriend's lover's uncle's maid's lotto winnings.

Back to your crayons Joe/Ed

Anonymous said...

anon 103

tell you what,

since you have all day to comment on this blog, get the mls take the time to figure it out, hint these properties are in the upper area of sunset plaza drive, that is thousands of homes for you to go through, some of them are on the market some of them have been withdrawn.

wink wink !!

Anonymous said...

Ahh..but you said it IS on the market. Changing your story again there Ed/Joe?

So which listing is it?

lil' gay boy said...

Anon 12:41,

Got something better to add? Or would you rather just sit back and watch a diseased mind run in circles saying, "Look at me! Look at me!"

I'm with Alessandra on this one:

Damn, I can't believe I'm so bored as to respond to this crap.

ed from westwood said...

anon 153pm

My guess is that he cannot say what listings they are due to him opening himself up for a lawsuit in the real world.

as for me I assumed he was talking about the sunset plaza area 90046 it is known for very overpriced homes with very low appraisals.

I am responding to your idiotic questions because I enjoy playing mind games with morons, hey are you a pap ? you sure do sound like one

I am done here

ciao

Just a fan of Mama said...

Jeeeeezus F-in Christ.

OK...I'm a loyal HPer also but I'd rather come here and read beautifully sarcastic descriptions of celebrity homes rather than a bunch of bickering between the two opposite ends of the housing crash spectrum.

REIC employees...quit being so bitter and angry.

Ed/whoever...You won't be getting prime high end properties for pennies on the dollar. Yes, prices have and will soften further but quoting a mortgage broker from Sparks (NV?) is a joke.

Anonymous said...

Just because a bank doesn't want to gamble on your real estate accumen doesn't mean money is not available. Good properties, priced well; will always sell. Those who can do....Those who can't say it is stupid and someone elses fault.

Anonymous said...

anon 1 24 and I quote

"Those comments by professionals make sense. YOURS is only a half truth. None of those three comments by professionals say anything about increasing down payments."

anon

I never mentioned anything about an increase in down payments, all I said was that the banks are picking apart appraisals they have their own appraisers that are brutal when it comes to assessing the value of a home, remodeling, upgrades do not count for much now.

They also said that if I wanted to get the loan for the listing price or close to it I had to show proof of 5 comps sold in the last 3 months in the same area, which I could not do.


banks want to have sure bets on their loans now.

believe what you want

but try it I challenge you

you will be surprised at the results, I know I was, now tell me that cash is not king.

and to the other anon no it is not on zorda, so stop asking me I will never tell.

Anonymous said...

Welcome to the Ed from Westwood / Avg Joe / all the same boring ass blog.

Y A W N

Anonymous said...

Tell me that there is not something wrong with this picture ??


"Washington Mutual has slashed or suspended $6 billion in available home equity credit to its customers in an effort to reduce its risk in a flailing housing market."

Anonymous said...

anon 2 29

YOU ARE BORING

go somewhere else

Anonymous said...

2:25pm: "I never mentioned anything about an increase in down payments"

What was this - "Lenders tighten loan rules, demand more money down"

You wrote it at 11:18. Scroll up and look if you don't believe me.

You have become as predicable as death and taxes. Change your story when you get called on your lies.

Anonymous said...

Link

http://tinyurl.com/6ftvym



It's raining, folks. Cats and dogs and housing prices are falling from the sky. The banks want their umbrellas back.

any news if 50 cent sold his 25MM estate in CT ??

Anonymous said...

2:32pm: "Tell me that there is not something wrong with this picture"

Ok.. I'll tell you. You changed your tune...again. You were posting about your supposed difficulty in getting a loan and now you post a quote about home equity lines of credit.

Two different things. You have to OWN a home to get a HELOC.

Anonymous said...

anon 2 37

I never said it, that was from the headline

here is the link

http://tinyurl.com/6bhbgb

now you owe me an apology !!!

Anonymous said...

all I was saying is that the link is proof that the banks are in their own minds reducing values of homes across the US.

if you cannot understand what I am talking about then this discussion is over.

Go back to 7th grade and start over because in the real world you will get hit by a bus.

Anonymous said...

>http://tinyurl.com/6ftvym

Wow..a link to a Peter Viles blog post on WaMu HELOCs. What is that, like his 10th blog post on the subject?

Anonymous said...

anon 2 50

watch out here comes the BUS !!!!

Anonymous said...

"all I was saying is that the link is proof that the banks are in their own minds reducing values of homes across the US."

No, banks aren't reducing values "in their own mind". They are just being cautious about believing an independent contractor who might be being paid off to write an inflated appraisal. It is called "good business".

Anonymous said...

There are only two buses. Your choice -

The one you will take to your minimum wage job at Jack In The Box.

The short yellow bus your mom puts you on.

Anonymous said...

Okay genius

why are they reducing 6 billion in HELOCS ?

This is WAMU not country wide, WAMU's clients that have these loans for the most part have excellent credit, great jobs a family, so why on gods green earth would WAMU decide to do this ??

Do you think the reason could possibly be that

"hey Bob, Ted our appraiser said this 400k home is really worth only 70k now,

Bob:

what ??? we have over 300k out there to this guy and when the market tanks he will leave us holding the bag, well we need to cut him off now !!!!"

That is my interpretation of what is going on in the minds of bankers, are you telling me that there is another reason ??

Anonymous said...

Unless WAMU needs the 6 billion to continue operating because they are running low on cash and that scenario would be far worse than the appraisal problem

Anonymous said...

"Unless WAMU needs the 6 billion to continue operating because they are running low on cash"

If you read the article, they aren't calling loans. They are reducing available credit on customers who have little or no equity.

Anonymous said...

"400k home is really worth only 70k now"

More like "this 400k condo is only worth 325k and the loser who owns it has a first for 300k and our 150k HELOC with 50k balance. We better freeze that other 100k before the a**hole goes out and buys a new BMW with it".

Anonymous said...

wait........... the a$$holes not buying the BMW anymore, damn, i thought i was going to sell a bmw today..

Anonymous said...

maybe I'm odd...but I'll be damned if I'm gonna move some f*ing tree every time I gotta use the terlit...I know, its styled but I'm just saying...strip all that away and its still a HomeDepot flip.

Linda Hoof said...

Ed,Joe and all the paranoid anons,I'm going to beat the shit out of you and steal the hundred grand stashed under your dirty mattresses!

Anonymous said...

anon 3 36pm

No 70k

You are now getting revenge of the banks.

They asked the US govt to bail them out of trillions in bad loans, their pleas fell on deaf ears, they are pissed about the jingle mail, so now they are saying F*** it and over devaluing homes and my friend lies the problem.

Most of the HELOCS are not trying to buy BMW's , they are just trying to put their kids through school, college, buy food, gas, and survive.

This event is going to make waves in the press this week as I am sure this is affecting thousands of families.

Anonymous said...

I also heard from a commenter from another blog about the banks in other states going back to 3% down with a fixed rate for those with good credit, anyone know about that one ???

That seems to good to be true.

ndskz said...

Jeff did a good job. He got all the signature items installed without killing his budget. The view is to die. What's better then living next to Brad Pitt? Standing on your balcony looking right down on his whole compound...Jeff knew exactly what he was doing.

Anonymous said...

This house is now banal. That seems his style.

From the Flipping Out show, I got the impression that he really wasn't making a comfortable living, because he was always having to sell the house under his feet in order to buy the next one. He never had money. He loves the sturm und drung of it all, I guess.

Anonymous said...

anon 9:28pm: "buy food, gas, and survive."

Try getting a job to pay for food, gas and daily survival.

Polly said...

Please leave all the boring economic statistics to CNN.This blog in NOT about crap like that,It's about curtains,celebrities,lamps,celebrities,chairs celebrities.....................EXPENSIVE celebrity real estate,drama,more chairs....................

Anonymous said...

Joe/ED sez - "I also heard from a commenter from another blog about the banks in other states going back to 3% down with a fixed rate for those with good credit, anyone know about that one"

a) It is coming from a "commenter on a blog" (aka could be you?)

b) Not true but wouldn't matter to you anyway because you don't have good credit.

Average Joe said...

i got a no documents 140% loan from this mortgage company.

www.fiveguysfromcompton.com

they are really good with terms. even prefer i pay in cash.

Anonymous said...

Starting June 1, 2008, Fannie Mae will accept up to 97 percent loan-to-value ratios for conventional, conforming mortgages processed through its Desktop Underwriter® (DU®) automated underwriting system, and 95 percent loan-to-value ratios for loans underwritten outside of DU, in all geographic locations in the United States. The new national down payment policy will supersede the policy the company adopted in December 2007 that required higher down payments in markets where home prices are declining.
SO MUCH FOR ALL YOU DOOM AND GLOOMERS

Anonymous said...

Fannie Mae will continue to provide support for homebuyers that need down payment assistance, and will continue to allow loans with Community Seconds® up to a maximum 105 percent combined loan-to-value ratio. Community Seconds allow a borrower to obtain a second-lien mortgage to help cover down payment and closing costs, with funding typically provided by a state or local housing agency; an employer; or a nonprofit organization. Fannie Mae also offers MyCommunityMortgage® and Flex mortgage products, which permit down payment assistance programs in the form of gifts and grants.

Anonymous said...

So can I get a 10MM estate with 300k down ?

sweet !!!!!!!!!!

Anonymous said...

If Mama wants to tighten commenter requirements before posting I'd support it. Maybe that would restore the quality and focus here.

The coward idiot ed/joe/etc. could easily be blocked. The damage he does here is sad and depressing.

StPaulSnowman said...

Forget real estate, the real money would be in a program that would unmask all the anonyms once a week. Then we could all know who said what and how many multiple personalities are participating here. It seems that the number of anonymous comment section terrorists is "exploding." I would like to know what the advantages of anonymous postings are...it's not like anyone is signing his/her real name any way.

Anonymous said...

sorry there is no money in programs anymore

any programs that are made are stolen and pirated off in the billions to others all across the globe.

software is dead industry.

if you want a program like that, hire a guru or learn how to make it yourself, watch thousands of tutorials on the web and start doing it, of course that will take at least 10 years to master but by then they may have the pirating problem under control.

Anonymous said...

Saintpaulsnowman, I'm 11:07 and I don't want Ed to know my name because I don't want to become one of his OCD targets.

lil' gay boy said...

Ed, et al, is easy to identify within the first 10 words (s)he writes, and is thus easy to skip over. All of us have been attacked in the same way over time.

Like it or not, a blog is a form of free speech, and (s)he's entitled to enact any interior monologues in public as is done here.

Let the ranting and raving go on; as long as we don't respond to it, (s)he will get bored and hopefully move on. If not, at least it will prove a fascinating document of the hideous product of a diseased mind.

Anonymous said...

How can you tell a gold Cartier IUD? There is no signature on it and the appraiser at the Antiques Road Show said Cartier never made IUDs. They refused to have me on the show. My Brentwood gynecologist assured me it was Cartier and made me pay extra because Kaiser wouldn't cover it. I am not a celebrity but I only buy the best. Please notice I did not mention loans or mortgages. My health care is more important than Aguilorrhea's cheap house.

Anonymous said...

stick it in Ed from westwood's butt and if his hole turns green it wasn't real.

Anonymous said...

Joe/Ed sed - "So can I get a 10MM estate with 300k down?"

Can you qualify to make the monthly payments on a 9,700,000.00 loan?

Didn't think so. You wouldn't be hanging around here all day long if you made that kind of money.

POW!

Anonymous said...

well I get 2MM a year from my dad's company so I do qualify, also because I do not have a job I can afford to sit around here all day and collect checks.

eddie from pdx said...

Is it wrong that I kind of like the tub. Although, just like my extra large jet tub in the my mastebath, I would never use it.

We did find that orchids situated around the tub love love love the humidity from the shower. They keep blooming over and over again.

And I agree with the earlier commentor... Jeff Lewis knows exactly what he is doing. Someone will cough up the money for this place... and living next to Brad Pit and his orphanage is worth the wondky window lines.

bentley said...

I'm confused. I know LA pretty well, but have never been to Los Feliz. It can't be that bad if Brad Pitt lives there , can it? Is the guy not an architecture buff? That, paired with being a giant star, leads me to believe he wouldn't live anywhere sub-par. Enlighten me.

Great kitchen. Normally galleys make me claustrophobic, but this one, with it's openness and tasteful style, seems nice.

Viva! said...

I love it! It appears to be a much happier house than the Ryan Murphy place. Plus there is a pool (!). I love Jeff Lewis, that show of his was fantastic!

Anonymous said...

Bentley, Los Feliz is very nice. It surrounds the south side of Griffith Park. It is one of those eclectic LA neighborhoods where you find houses on the National Registry (Frank Lloyd Wright's Ennis House) in the same area as modest 2-3 bedroom homes. Celebrities are just people you see in the grocery store. Mama has written about a number of celebrities who have owned homes in Los Feliz. Madonna is a past owner from prior to Mama's blog.

eatapeach said...

what about the drapes, Jeff?

Anonymous said...

JEFF LEWIS IS A GOD. he is the funniest coolest satirical amazing human being ever. if you DONT get why i say this then you dont get this show. freaking awesome. you are my hero.

KarynT said...

I love this show! I am completely addicted and it is a permanent resident in my TiVo. I would love to wake up to the Valley Oak House everyday with that amazing view. Can't wait to see what happens in Malibu next season! Love you Jeff!

Ryan said...

Jeff, we absolutely love the show! We flew all the way down from Washington to see some of your work! To bad the season is over! You have truly inspired my fiance Denise and I to get into the renovation business. What happened with Malibu?

TonyV said...

http://news.yahoo.com/s/bw/20081117/bs_bw/0847b4109090693045;_ylt=ArM_XQZL2oa5ktlzWcPtKWkDW7oF

Anonymous said...

Is this what America has come to? Wasting time and space on a vile emotional pygmy like Jeff Lewis. He should be spanked and sent off to stand in the corner of one of his rooms, forever. Preferably the one that has the badly painted self portrait. Was his plastic surgeon aiming for his lips and miss when he made his injections. For someone who demands perfection he should be perfect himself. He is gross and why people would subject themselves to his behavior says more about them than Jeff. Vile, vile, vile...