Los Angeles Commercial Real Estate Loan Firm Watermark Financial Secures $15m for House Refinance
Los Angeles, CA (PRWEB) October 27, 2008
Watermark Financial, Inc., (www.watermarkfinancialgroup.com) a Los Angeles based boutique commercial mortgage firm, secured $ 15,000,000 in financing for the refinance of a single family home in Montecito, CA.
The variable rate loan, fixed for 6 month periods carries a 4.47% interest rate and an interest only payment schedule, was facilitated by Watermark for the privately owned home.
"Watermark specializes in making the best match between borrower and lender. We are proud to have helped a client close on a large balance transaction, especially during such volatile market conditions," said Watermark President Georgia Ragsdale. "The client is a former Wall Street executive and he is thrilled with the interest rate. This is a custom loan product for special borrowers with high value properties over $ 5,000,000."
The subject property was completed in July of 2008. This spectacular estate compound commands a view of the entire Santa Barbara coastline and Channel Islands.
Watermark was formed by Georgia Ragsdale and Elizabeth Braman, Esq., CCIM and serves clients in the development and real estate investment sector.
ABOUT WATERMARK FINANCIAL, INC.
Los Angeles based commercial real estate mortgage firm Watermark Financial is an experienced financial lending team offering individuals and companies access to debt and equity financing for all their funding needs. With access to nationwide investors and lending sources, the firm specializes in custom solutions for their clients.
To learn more, please visit www.watermarkfinancialgroup.com
For additional information or to schedule an interview with Georgia Ragsdale please contact Angela Hartman.
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Extreme Homes: A Glass House
This stunning structure known as "The Glass Pavilion" looks more like a work of art than a 14000 square foot home. Steel beams and glass make this Montecito California home appear weightless as it floats above the lawn. Check out our inside tour of this famous haven.
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Randy Quaid, wife found living in their old house
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SANTA BARBARA, Calif.—Actor Randy Quaid and his wife are facing burglary charges in California after the owner of the couple's old house reported they had been living there without permission.
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Q&A: Should i buy a small house in one of the nicest neighborhood?
Question by lala: Should i buy a small house in one of the nicest neighborhood?
or buy a normal house in a normal suburb.
say a small house in cities, like beverly hills, Montecito, Malibu etc. can go up to 800k
but with 200-300k i can get a nice house in a suburb in Atlanta.
I figure if i have say 1M to buy a house, i should get one in the nice neighborhood right? Since the house and lot price will almost double in 10 years
whereas a 200k house in an Atlanta suburb will go up in 20-50k if lucky it doesn't depreciate.
am i right in this logic? please tell me your opinion.
btw, im self-employed and make close to 250k annually.
Best answer:
Answer by CA MLO
The bigger question is can you buy anything with your self employment status. First make sure your income will qualify; you will need the last 2 years of tax returns with all schedules and you will only be able to use that income which you report. This means that what you make and what you claim are 2 different things, so check before you leap, you may be surprised.
After you figure out how much you truly qualify for, then you can address the issue of where to buy. Always at minimum, get pre-qualified from an experienced loan officer first.
Give your answer to this question below!
Q&A: Do you think Al Gore is sitting in his new $9M oceanfront beach house worried about the environment?
Question by Patriotgal: Do you think Al Gore is sitting in his new M oceanfront beach house worried about the environment?
From the April 28 Los Angeles Times:
Former Vice President Al Gore and his wife, Tipper, have added a Montecito-area property to their real estate holdings, reports the Montecito Journal.
The couple spent ,875,000 on an ocean-view villa on 1.5 acres with a swimming pool, spa and fountains, a real estate source familiar with the deal confirms. The Italian-style house has six fireplaces, five bedrooms and nine bathrooms.
I guess those rising sea levels of which Gore cries havoc is not so inconvenient a truth to dissuade him from buying oceanfront.
Best answer:
Answer by February1
I have no idea where Gore is...he doesn't send me his schedule.
Why do the Right hate it when Liberals are rich?
Add your own answer in the comments!
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