L.A. real estate news and insights.
This data shows why we are seeing multiple offers on properties again... there are still not enough homes for sale!
Closed sales this past January fell to 9,938, the lowest number of transactions in records dating back 35 years, real estate data firm CoreLogic reported Tuesday, Feb. 28.
An average January has about 17,000 closings.
We need more homes to hit the market to meet buyer demand!
Cheapest home sold this week in Sierra Madre.
Asking price: $700,000
Selling price: $1,025,000 ($325,000 over asking - all cash)
This major fixer has 3 bed/2 bath, 2,170 sq. ft. of living space, and is on an 8,044 sq. ft. lot.
The Mid-Century home features an open floor plan with a large living room, dining area, and kitchen.
The home needs extensive repairs to the main systems - plumbing, septic, heating, electrical, and roofing.
Singapore billionaire buys decadent Hollywood Hills Chateau.
Asking price: $14,995,000
Selling price: $13,457,000
This home has 7 bed/8 bath, 8,609 sq. ft. of living space, and is on a 19,814 sq. ft. lot.
The Chateau des Anges is a neoclassical French chateau-esque, and it features a palatial ballroom, a “meditation room,” a gym, and two massive basements, one of which has been converted into a high-tech panic room.
The grounds have multiple patios, and a pool with a golden figure, La Reine des Étoiles (The Queen of the Stars), the “guardian and ambassador of a life well lived."
Here is the most unique home for sale in the Hollywood Hills.
This Spanish Style home has 9 bed/6 bath, 10,513 sq. ft. of living space, and is on a 3-acre lot.
Castillo del Lago was designed by John DeLario in 1926.
Asking price: $21,000,000
Call me for more info at 818-445-7953.
Researchers at Black Knight Inc, a technology company that analyzes mortgage lending data across the United States, found that home prices in six California cities have decreased from their 2022 peak prices.
Those cities were: San Francisco, San Jose, Sacramento, San Diego, Los Angeles, and Riverside.
This is where home prices have fallen the most in the US:
1. San Francisco: 13% price decrease
2. San Jose: -12.7% price decrease
3. Seattle, Washington: 11.3% price decrease
4. Phoenix, Arizona: 10.5% price decrease
5. Austin, Texas: 9.7% price decrease
6. Las Vegas, Nevada: 9.3% price decrease
7. Sacramento: 9.3% price decrease
8. San Diego: 8.6% price decrease
9. Los Angeles: 7.6% price decrease
10. Salt Lake City, Utah: 6.9% price decrease
11. Denver, Colorado: 6.9% price decrease
12. Riverside: 6.8% price decrease
13. Raleigh, North Carolina: 6.3% price decrease
14. Portland, Oregon: 6.1% price decrease
Here is the most unique home for sale in Sherman Oaks.
Asking price: $8,500,000
This home has 5 bed/7 bath, 5,649 sq. ft. of living space, and is on a 38,000 sq. ft. lot.
The gated home features a separate guest wing with a kitchen, a gym/yoga studio, and a detached guest house.
The grounds include a pool, hot tub, waterfalls, a running stream, and a Koi pond under the house.
Call me for more info at 818-445-7953.
This is the cheapest home for sale this week in Burbank.
Asking price: $879,000
This home has 2 bed/1 bath and 1,138 sq. ft. of living space on a 6,279 sq. ft. lot.
The property features an updated kitchen, a single-car attached garage, and the backyard has a large patio and room to add on or build an ADU.
Text me for more info at 818-445-7953.
A large crop of unhappy homeowners is emerging after having time to settle with their hasty pandemic purchase in the last couple of years.
Buyers at the time were bidding up home prices to beat out fierce competition, and many waived the home inspection or appraisal to get the house they wanted.
But now they may regret the extremes they went to for a home: More than three-fourths of U.S. homeowners who purchased in the prior year expressed regret about their decision, according to an October survey from Hippo, a home insurance group.
The top reasons for their regret are:
-I spent too much: 30%
-I bought too quickly: 26%
-My home requires too much maintenance: 25%
-I bought a fixer-upper: 24%
-I was pressured to make an offer: 21%
-I bought sight-unseen: 17%
-I don't like my home's location: 15%
-I don't like my neighbors: 15%
-I don't like my home: 13%
This survey was conducted by Kickstand Communications on behalf of Hippo Insurance Services. Fielded between October 22-28, 2022, the results are based on 1,002 respondents.
For the general location, in Google maps, put in "Mulholland Dr. and Beverly Glen Blvd."
Text me for more info at 818-445-7953.
This home has 4 bed/3 baths, 2,200 sq. ft. of living space, and the lot is about 7,100 sq ft.
The home features an open floor plan, refinished hardwood floors, custom wood-beamed ceilings, marble fireplaces, and Viking stainless steel appliances in the kitchen.
Outside is a brand-new tile deck, low-maintenance landscaping, and a Crown Collection Marquis hot tub.
For the general location, in Google maps, put in "Foothill Blvd. and Mt Gleason Ave."
Text me for more info at 818-445-7953.
This home has 3 bed/2 baths, almost 1,500 sq. ft. of living space, and the lot is about 8,000 sq ft.
The fenced-in corner lot home features a spacious family room, an updated kitchen, a sizeable concrete-covered patio, and an attached garage.
For the general location, in Google maps, put in "Saticoy St. and White Oak Ave."
Text me for more info at 818-445-7953.
This home has 3 bed/2 baths, over 1,700 sq. ft. of living space, and the lot is about 6,000 sq ft.
The European Villa-inspired home features cut-in mosaic tiles, hand-painted murals, 2 fireplaces in the living room, a chef's kitchen, and a bonus office with loft space.
The entertainer's backyard features a pool, a custom outdoor bar and kitchen, a fireplace, an outdoor movie theater, and a jacuzzi.
For the general location, in Google maps, put in "Vanowen St. and Woodley Ave."
Text me for more info at 818-445-7953.
This corner lot home has 3 bed/2 baths and 1,534 sq. ft. of living space and is on a 5,425 sq. ft. lot.
The home could potentially be divided into 2 units. The 2-car garage would also make a nice ADU.
Tomorrow the Federal Reserve will announce if they will or will not raise short-term rates. My prediction is that we will see them raise rates another 25 bases point: that’s a fancy way of saying .25 of 1%.
How do I know?
I have been tracking a market indicator called the Fed Funds Futures. That indicator shows what investors are betting on. It currently shows a 98% probability that we will see a 25 bases point raise... so I'm going with that.
Do you think they will raise the rates tomorrow?
This is the smallest home for sale in Echo Park.
Asking price: $799,000
This home has 1 bed/2 bath, 546 sq. ft. of living space, and is on a 1,625 sq. ft. lot.
This newly reimagined bungalow features, vaulted ceilings, an open concept floor plan, stainless steel appliances in the kitchen, and a large background deck.
Text me for more info at 818-445-7953.
This Queen Anne Victorian home has 7 bed/5 bath, 4,500 sq. ft. of living space, and is on a 21,716 sq. ft. lot.
This historic home was built in 1894 for the Burr Family.
Asking price: $1,900,000
Text me for more info at 818-445-7953.
