HappyHalloween

Builders call new-home market ‘unhealthy and unsustainable’

Forced to slow down construction as buyer demand plummets, builders predict lower home starts through 2023.

Single-family home starts dropped in September and were down 5.6% since the beginning of the year, the Commerce Department reported this week. Multifamily construction has dropped 13.2%.

Builders are blaming rapidly rising mortgage rates, ongoing supply chain disruptions, and affordability challenges for the rapid pullback in the new-home market. “High mortgage rates approaching 7% have significantly weakened demand, particularly for first-time and first-generation prospective home buyers,” says National Association of Home Builders chairman Jerry Konter. “This situation is unhealthy and unsustainable".

They paid HOW MUCH for this home in Burbank?! Unbelievable!

Here is the most unbelievable home sold this week in Burbank.

Asking price: $995,000
Selling price: $1,125,000

This cottage-style home has 3 bed/ 2 bath, 1,571 sq. ft. of living space, and is on a 6,931 sq. ft. lot.

The unfinished home was sold in "As-is" condition to an LLC.

Do you think the new owner will remodel, tear down and build a new home, or build 4 units?

Coming soon to LA

This move-in-ready condo is in close proximity to the Westwood Village and Beverly Hills.

There is also tons of shopping, entertainment, and dining at the close by Westfield Century City.

Let me know if you want more info BEFORE it hits that market.

Text me at 818-445-7953.

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Attention - This "HOT HOME" is available in Burbank now!

"Hot Home” alert in Burbank.

Asking price: $975,000

This home has 2 bed/1 bath, 1,183 sq. ft. of living space, and is on a 6,726 sq. ft. lot.

The kitchen and bathroom have been renovated.

There is an oversized 2.5 garage and a detached back cottage that could be an office, playroom, or ADU.

Text me if you want a tour at 818-445-7953.

See inside this notorious Los Feliz House - super scary!

Known as the Los Feliz Murder House, this home has a really creepy story behind it!

On the night of December 6, 1959, Dr. Harold Perelson murdered his wife Lillian while she slept with a ball-peen hammer. He then attempted to kill his oldest daughter, who managed to escape. Harold then told his other children to go back to bed and he went into the bathroom and killed himself with a mixture of Nembutal and tranquilizers. No one has ever really understood why, but we know that there were money troubles.

Shortly after the killings, the family’s home was sold via probate auction to Emily and Julian Enriquez. While the couple visited the mansion on occasion, and even stored some of their possessions there, for reasons that are unknown, they never lived at the property, nor did they ever move the Perelsons’ belongings out! The house sat, frozen in time, collecting dust on its furnishings.

For decades, flocks of curious visitors have climbed the hill to peer through the windows at the dust-covered dolls, crusting cans of food, and half-made beds - but none were ever allowed in.

The home eventually sold in March 2016 to Lisa Bloom and her husband, Braden Pollock. They began the extensive remodel, but then in 2019, they listed it again stating, “After three years of efforts, we gave up.”

The home is currently in escrow. Let's see how much it ends up selling for!

Original Asking price: $3,500,000 - it was reduced to $2,500,000 in October 2020.

•5 bedrooms

•4 bathrooms

•5,050 sq. ft. of living space

•26,325 sq. ft. lot