REAL ESTATE NEWS
Some Freddie Mac BorrowersGet New Break
Over the past few years, unemployment has beena major issue in the country. Many homeownersare unable to pay their mortgages once they losetheir job and are often put in a very difficult situation. In fact, Freddie Mac attributed about 10% of its delinquent loans to unemployment
and they just passed a new directive to try andhelp.Beginning in February, Freddie Mac will provideup to one year of forbearance (postponingforeclosure) for unemployed borrowers to paytheir mortgage. Unemployed borrowers can work with their servicer to receive six months of forbearance without prior approval. Freddie Maccan then extend the forbearance for an additionalsix months.Of course, this only applies if your loan is ownedor guaranteed by Freddie Mac. Be careful becauseyour loan may be owned by Freddie Mac but serviced by another company. If you are not surewho owns your loan, visit www.freddiemac.com
to see if Freddie Mac is the owner.
11400 Sunshine TerraceStudio City, CA 91604
6 full 1 half
Lot Size: 3.14 acres
Kara DioGuardi, former American Idol Judgewho has written songs for Britney Spears, Pink, CarrieUnderwood and Christina Aguilera, purchased thishome for $3.5 million in 2007. Since then, DioGuardiextensively renovated and expanded the home.
Inside, the home is full of luxurious amenities,including a sauna, a solarium, an art studio, multiplefireplaces (including one 20 foot fireplace and anotherdouble sided fireplace ) and a master bedroom suite(with cathedral ceilings, balcony, and fireplace).Outside fountains and ponds can be found around theproperty, along with multiple outdoor entertainingareas. The gated property has city and mountain views,including the amazing views from the infinity pool, asseen above. The property is also within walkingdistance of some of the finest restaurants and shops inLos Angeles
FOR ALL OF YOUR REAL ESTATE NEEDS
In December 2011, home sales hit an 11month high. Existing home sales rose 5% to anannual rate of 4.61 million units. This is thethird straight month of gains.
The number of properties on the market wasthe lowest in close to several years. Therewere about 2.38 million unsold homes on themarket, which is the fewest since early 2005.This translates into just over 6 months of supply, the lowest since early 2006.
The median sales price in December was$164,500
a 2.5 percent drop from a year ago.