L.A. real estate news and insights.
Low inventory, bidding wars, and record-low mortgage rates are giving consumers a new sense of FOMO and is driving hyperactivity in the real estate market.
Pending home sales are up 20% from a year ago, buyer traffic is up 32%, and mortgage applications are up 27%—all indicators that this winter may be the best ever for the housing market.
Mortgage rates also remain at record lows.
The 30-year fixed-rate mortgage averaged 2.71% for the week ending Dec. 10, according to Freddie Mac.
This is the cheapest home to sell this week in Valencia.
•3 bedrooms
•2 bathrooms
•1,128 sq. ft. of living space
•5,488 sq. ft. lot
HOA Amenities: Park w/ playground, 3 community pools, BBQ & picnic area.
Asking price: $549,000
Selling price: $560,000
This is the cheapest home to sell this week per sq. ft. in North Hollywood.
Price per sq. ft. - $302.00
•6 bedrooms
•4.5 bathrooms
•3,245 sq. ft. of living space
•6,970 sq. ft. lot
•Brand new kitchen
•Large laundry room
•New concrete driveway
The selling price was $980,000.
Ryan Seacrest Is selling his massive Beverly Hills home for $85MM.
The sprawling Beverly Hills estate was previously owned by Ellen DeGeneres.
Ryan bought it from her in 2012 for $36.5MM.
•7 bedrooms/10 bathrooms total
•125,580 ft. lot
•Gorgeous pool w/ pool house
•Separate fitness facility
•Underground garage
•Resort-like grounds
•Outdoor living/dining area
Text me if you want a tour at 818-445-7953.
Here is your latest “Hot Home” in the Bungalow Heaven Landmark District in Pasadena.
First time on the market in 50 years!
•Built in 1915
•3 bedrooms
•1.5 bathrooms
•1,401 sq. ft. of living space
•7,753 sq. ft. lot
Asking price: $999,000
Text me if you want a tour 818-445-7953.
New off-market property alert for Sherman Oaks!
•6 bedrooms
•5 bathrooms
•5,964 sq. ft. of living space
•30,357 sq. ft. lot
•Amazing views from the infinity pool & spa
•Full one-bedroom guesthouse with sauna
•Master wing has an en-suite bathroom with steam shower & tub, large walk-in closet, private outdoor patio
Asking price is now $3,695,000.
Text me if you want a tour 818-445-7953.
Condo sales are rebounding because buyers are finding great deals.
The pandemic turned a lot of people off condos.
Buyers realized just how important having outdoor space and a garage really is.
After a 50% sales plunge this spring, condo sales have recovered.
In October, condo sales increased 22.7% compared to a year earlier on a seasonally adjusted basis.
In my opinion, the best deals going down right now are in condo purchases.
There were 48 property sales in Burbank for November 2019.
