You have until March 4th to take the Mayor’s budget survey. It is available online by going to 2013 Los Angeles Budget Challenge. I have copied the link below. Your opinion matters for the benefit and welfare of Los Angeles and Valley Village.
http://la.budgetchallenge.org/pages/overview

Neighborhood Council Valley Village monthly board meeting is tonight, 6:30, 5000 Colfax Avenue, Valley Village.
Mark Dierking will be giving an update on Metro plans for sound walls
along the 170 Freeway in Valley Village.

Saturday, February 23, at 9:00 AM there will be a candidate forum at Los Angeles Valley College, Monarch Hall, 5800 Fulton Avenue, Valley Glen. All five Mayoral candidates and three City Controller candidates.
9:00 a.m. Coffee & Refreshments, 9:30 a.m. City Controller Candidates, 11:00 a.m. Mayoral Candidates. Dan Schnur, Director Unruh Institute of Politics, USC is the moderator.

If you are in the unfortunate situation of trying to decide between letting your property go into foreclosure or try to sell as a short sale, you should know how it will effect you when you try to purchase a new home in the future.
Foreclosure
FNMA : need 7 years from time of foreclosure
FHA : Need 3 years from time of foreclosure

Under a Short Sale the rules will vary
FNMA: After 2 years if the client is putting down 20% and get an approve/ eligible under DU( desktop underwriter), FNMA will be able to lend to this borrower. If they are putting less than 20% and need mortgage insurance, it will be after 4 years.
FHA: It is the same as foreclosure, 3 years, unless they made their payments on time up until the property sells. They would also need to be current on all other debts for the last year and able to show hardship as the reason for short sale. If the client can prove all of these conditions, FHA has no time restriction on when that buyer can reapply to purchase a property.

NCVV’s first meeting of 2013 is tonight at 6:30pm, Colfax Charter. There are important issues on tonight’s agenda. Starbuck’s is proposing a new location at the southwest corner of Laurel Canyon and Burbank Blvd. Please attend if possible.

I have several items for you today.

First, the LAPD North Hollywood Station, is accepting applications for Cadets. Please see the attached flyer and website link. Feel free to forward to anyone that you think might be interested in becoming a Cadet. https://local.nixle.com/alert/4943373/?sub_id=242848

Second, VVHA, the Valley Village Homeowners Association, is holding their first meeting of 2013 January 16, 7:00pm at Colfax Charter Auditorium.

This meeting will include a report on Neighborhood Watch and information from Valley Village Senior Lead Officer Manny Arreygue.

VVHA will also be conducting the 2013/2014 Board Elections. I am running for the board as a Boardmember at Large and hope to see you at the meeting.

NCVV Projects committee is holding their first meeting of the year tonight at 7:30pm at Colfax Charter auditorium, 11724 Addison Street.

NCVV’s first City Services Committee meeting of the New Year is tonight at 7:00pm in the Oakwood School Library on Magnolia Blvd.

The monthly meeting of Neighborhood Council Valley Village will be held on Wednesday November 28, 2012, 6:30 PM – 9:00 PM at Faith Presbyterian Church 5000 Colfax Avenue, Valley Village, CA, 91607. Below is a link to their website for more information www.myvalleyvillage.com .

Interest rates are at historically low rates. Buyers and homeowners are trying to take advantage of this, by purchasing a home or refinancing their home. The appraisal process can make selling or refinancing your home difficult in this market. One third of real estate agents have recently seen lower than expected appraisals hinder home sales, according to a survey by the National Association of Realtors. In many cases the sale was cancelled or the sales price was renegotiated to a lower sale price because of the low appraisal value.The National Association of Realtors say problems can arise because appraisers, employed by appraisal management companies, do not always have adequate experience in a neighborhood.It is important for a listing agent to meet the appraiser at the time of the inspection, provide comparable sales and be certain that the appraiser is familiar with the area. In areas such as Valley Village, it is important that the appraiser knows the value of having a home located in the Colfax Charter School District. Or in Studio City, the impact that being in Carpenter Elementary school has on the value. If an agent is not comfortable with an appraiser, they can reject them and ask the lender to assign one that is familiar with the area where the house is located. This is the same for homeowners getting an appraisal on the home for a refinance.