L.A. real estate news and insights.
It's unbelievable how much Altadena has skyrocketed!
This is the cheapest home sold this week in Altadena.
Asking price: $849,000
Selling price: $1,000,000
This turnkey home has 3 bed/2 bath, 1,173 sq. ft. of living space, and is on a 5,748 sq. ft. lot.
Are Altadena home buyers overpaying at this point?
2-time Grammy-winning Kid Cudi can "free his mind at night" in his new Mediterranean mansion in Calabasas.
Asking price: $8,295,000
Selling price: $7,700,000
This home has 6 bed/8 bath, 8,925 sq. ft. of living space, and is on 11.5 acres of land.
Nice job negotiating the price down!
Sold for $200K over the asking price.
This is the cheapest home sold this week in Canoga Park.
Asking price: $674,999
Selling price: $875,000
This fixer-upper home has 4 bed/2 bath, 1,349 sq. ft. of living space, and is on a 12,104 sq. ft. lot.
The home features floor-to-ceiling raised hearth brick fireplace, original hardwood floors, and a huge sunroom w/ new wall-to-wall carpet.
Would you pay $200K over the asking price on a home?
Here is an update on the “Hot Homes” I told you about back in June. Did you think these homes would sell for this much?
Hot Home #1 - California St., Burbank
Asking price: $849,900
Sold price: $985,000
Hot Home #2 - Ostego St., Sherman Oaks
Asking price: $2,489,000
Sold price: $2,711,000
Kelly Clarkson just bought this Toluca Lake tennis court estate for $5,400,000.
The revamped home has 6 bed/7 bath, 4,946 sq. ft. of living space, and is on a 1.2-acre lot.
The kitchen has high-end appliances, a center island, and a breakfast nook.
There is a library, a great room, and a sunroom with a yellow fireplace.
The landscaped grounds feature a tennis court, pavilion, garden, gazebo, and pool, and spa.
Should she have rented instead?
The rate of home price growth has started to slow, and the competition for homes may be showing some signs of easing somewhat.
“The market’s topping out,” Mark Zandi, chief economist at Moody’s Analytics, told realtor.com®. It’s “starting to show cracks. It feels like we’ve hit the apex, and we’re moving to the other side of it.”
But that doesn’t mean the housing market is heading for a bubble that is bound to burst. Mortgage lending has remained tight. Real estate economists have long said the current frenzy in the housing market is no housing bubble that is reminiscent of nearly a decade ago with the run-up in real estate.
Economists are generally predicting an overall slowdown in prices and more moderation rather than any major downfall.
You won't find this off-market home anywhere else!
Located in Beverly Hills 90210, this multi-level home designed by architect Thom Mayne has 4 bed/5 bath, 4,043 sq. ft. of living space, and is on a 7,059 sq. ft. lot.
The home features floor-to-ceiling windows, exposed beams, and metal railings.
There is a grand living room with a fireplace, bar area, and separate office space.
The kitchen has Stainless steel appliances and a center island.
The master suite has a walk-in closet and bathroom with double sinks, a walk-in shower, spa tub.
The outdoor spaces are great for lounging and having a summer BBQ.
Text me if you want a tour at 818-445-7953.
To win a bidding war, more buyers are waiving appraisal and inspection contingencies, according to the latest REALTORS® Confidence Index survey.
Here is the full list of contingencies buyers are removing:
Appraisal contingency (28%)
Inspection contingency (25%)
No contingency was waived (22%)
Financial contingency (11%)
Home sale contingency (9%)
Title contingency (2%)
Other (2%)
Would you waive your contingencies when submitting an offer on a home?
Source: Survey of more than 3,300 REALTORS®.
“Hot Home” alert for Valley Glen.
The asking price is $1,149,000.
This Storybook Charmer home has 4 bed/3 baths, 2,017 sq. ft. of living space, and is on a 29,809 sq. ft. lot.
The property features vaulted ceilings and hardwood flooring in the open concept living/dining room. There is also a new roof, recessed lighting, and a detached 2 car garage.
Text me if you want a tour at 818-445-7953.
Americans are having fewer children, and the trend is apparent among home buyers.
The fertility rate in the U.S. fell by 1% in 2019, reaching an all-time low compared to the last 100 years.
Among home buyers, the share who have children under the age of 18 has fallen from 58% in 1985 to 33% in 2020.
This trend has significant implications for home buyers.
What is important to a buyer with children will be different than what a buyer needs without children in the home.
For example, buyers with children may put higher importance on location and schools as well as home size.
Buyers with children typically purchase a four-bedroom home with 2,200 square feet; those without children usually purchase a three-bedroom home with 1,800 square feet, the research shows.
The question is where will this trend lead?
Will fertility rates continue to drop?
Will there be a pandemic baby boom?
Early indicators suggest the trend of a baby bust will continue.
Source: Jessica Lautz, vice president of demographics and behavioral insights at the National Association of REALTORS®
Did the buyer get a good deal?
This is the most expensive home sold in Mission Hills this week.
Asking price: $849,900
Selling price: $835,000
This single-family home has 3 bed/2 baths, 2,590 sq. ft. of living space, and is on a 7,076 sq. ft. lot.
The home features Viking appliances in the kitchen, double pane windows, and copper plumbing.
“Hot Home” alert in Hancock Park!
The asking price is $12,375,000.
This French Neoclassical home has 4 bed/6 baths, 8,163 sq. ft. of living space, and is on a 20,143 sq. ft. lot.
The property features an awe-inspiring foyer with 30 foot high ceilings, herringbone wood floors throughout, a 7 car garage, amazing views, and an octagonal-shaped pool.
Text me if you want a tour at 818-445-7953.
This is the longest active listing in Studio City.
It's been on the market for 255 days with no price reductions.
Asking price: $3,499,000
This home has 5 bed/4 baths, 3,397 sq. ft. of living space, and is on an 18,047 sq. ft. lot.
The very private home features gorgeous views of the canyons, a cook’s kitchen, a master suite with an upgraded bathroom, and 2 bedrooms and a bathroom on the third floor.
I bet they are open to negotiating.
Text me if you want a tour at 818-445-7953.
LeBron James is selling his Brentwood Park Mansion for $20,500,000.
This Gated Traditional Estate has 6 bed/8 baths, 9,440 sq. ft. of living space, and is on a 24,772 sq. ft. lot.
The home features an indoor/outdoor flow, high ceilings, large master suite, media room, paneled library, gym, elevator, mudroom, and 3 car garage.
There is also a long lap pool and spa in the resort-like backyard.
Text me if you want a tour at 818-445-7953.
Lakers Star Dennis Schröder Buys Tarzana Mansion for $4.3M.
This gated contemporary estate has 7 bed/10baths, 8,428 sq. ft. of living space, and is on a 15,308 sq. ft. lot.
The home features Fleetwood patio doors for indoor/outdoor experience, surround sound, Control4 smart home, home theater, and a 2 level guest house.
The secluded backyard has a zero-edge pool & spa, an outdoor kitchen, and a concrete basketball court - of course!
Go Lakers!
