L.A. real estate news and insights.
Leah Remini lists Studio City home again... now with a $500K price drop.
This home has 6 bed/8 bath, 10,100 sq. ft. of living space, and is on 1.5 acres.
The Lockridge Estates property features a main house, guest house, theater, pool, a large flat yard, pool, and putting green
Original asking price: $12,995,000
Asking price: $12,499,000
Former convent hits the market in Sherwood Forest.
This multi-structure property has a total of 9 bed/9 bath, 4,625 sq. ft. of living space, and is on over 1.15 acres.
This converted property features a full chapel, altar, tabernacle, sacristy, library, and a pool.
Asking price: $2,500,000
Featured in Hulu's mini-series ‘The Dropout,’ this LA estate finally sold!
This mansion has a total of 10 bed/12 bath, 24,488 sq. ft. of living space, and is on 1.5 acres.
This Holmby Hills property features a main house, guest house, theater, pool, jacuzzi, pond, tennis court, gym, and gardens.
Original asking price: $49,500,000
Selling price: $34,550,000
Dodgers All-Star Mookie Betts lists Encino home again at a lower price!
This newer construction home features a home theater, gym w/ sauna, zero-edge pool/spa, putting green, a 2-story guest house, and a gym/basketball court.
Asking price: $8,495,000
Text me for a tour at 818-445-7953.
The "Earthquake House" is for sale!
The home is built on visco-damper base isolators and has a steel structural framework to protect against earthquakes.
Asking price: $2,895,000
Text me if you want a tour: 818-445-7953.
Did you see the ADU?
For the general location of this Sierra Madre off-market property, in Google maps, put in "Grand View Ave. and Cañon Ave."
Text me for more info at 818-445-7953.
The Spanish-style home features wrought iron railings, arch-shaped doors, stained glass windows, and a gourmet kitchen.
Outside there are fruit trees, a gazebo, and an ADU.
This past November, Los Angeles voters backed Measure ULA, a transfer tax on big-ticket property sales that the city says will generate a new revenue stream for affordable housing projects and homelessness prevention. Known as the “mansion tax,” Measure ULA will impose a 4 percent tax on property sales above $5 million and a 5.5 percent tax on properties above the $10 million mark. The tax must be paid by the seller.
The City of Los Angeles now expects to make a lot less from its new transfer taxes than originally advertised.
Measure ULA is projected to generate up to $672 million in revenues from July 1 of this year through June 30 of next year, according to an analysis from the City Administrative Office, which conducts financial and budget analyses. The office released its report 2 weeks ago.
The new numbers are about 25 percent less than original estimates provided to voters in November, assuming about $5.1 billion less in property sales.
Sales of previously occupied U.S. homes surged in February to the fastest pace in six months as homebuyers seized on a modest drop in mortgage rates.
Existing home sales jumped 14.5% last month from January to a seasonally adjusted annual rate of 4.58 million, the National Association of Realtors said Tuesday.
The surge in sales — the biggest on records going back to 1999 — ended a 12-month slide that knocked the nation’s housing market into its deepest slump in nearly a decade and left sales in January at the slowest pace in more than a dozen years.
For the general location of this off market property, in Google maps, put in "Ventura Blvd. and Sepulveda Blvd."
Text me for more info at 818-445-7953.
Both units have 2 bed/2 baths, with a combined total of 2,165 sq. ft. of living space and are on a 5,250 sq. ft. lot.
Both units feature updated bathrooms, new flooring, recessed lighting, new dual-pane windows, and a washer and dryer.
The upstairs unit has a large deck, and the downstairs unit has a private patio and yard.
For the general location of this off market property, in Google maps, put in "Riverside Dr. and Fletcher Dr."
Text me for more info at 818-445-7953.
This multi-level home has 4 bed/4 baths, 3,214 sq. ft. of living space, and the lot is 2,465 sq ft.
The new construction home features an open living, dining, and kitchen area, and the primary suite is on the top floor with a fireplace, walk-in closet, and access to the backyard area.
Deals estimated to be in the top 5% in a market on average dropped 44.6% year-over-year for the three-month period ending Jan. 31, according to Redfin. That’s the largest annual decline and the second-lowest level on record.
Miami’s luxury market took the biggest hit in the three-month period, with a year-over-year decrease of 68.7%. That was followed by Long Island (62.8%) and three California markets: Riverside (59.8%), Anaheim (59.3%), and San Jose (59%).
Los Angeles came in at a 55.5% decrease.
That lack of supply has pushed luxury home prices higher. The median price in the US was up 9% compared with the same period the year before.
Carey Mulligan and Marcus Mumford list their Sunset Strip property.
This Spanish Style home has 4 bed/6 bath, 4,593 sq. ft. of living space, and is on a 7,354 sq. ft. lot.
The renovated home features an open floor plan, a playroom, screening room, and the detached two-car garage was converted to a recording studio by the previous owner.
The backyard has a pool, raised fire pit seating area, covered dining space with a full outdoor kitchen, and a pool bath/shower area.
Asking price: $6,495,000
Call for a private showing 818-445-7953.
This Spanish Mission-inspired home is the most unique property for sale in West Hills.
The home has 6 bed/5 bath, 6,888 sq. ft. of living space, and is on 6.7 acres.
It's considered a LA Cultural Historic Monument, on 4 parcels of land, and is home to a couple of cows.
Asking price: $10,350,000
Call for a private showing 818-445-7953.
Would you live in LA if you won the lottery?
A $2 Billion Powerball winner just bought this Hollywood Hills mansion.
Asking price: $29,950,000
Selling price: $25,500,000
This Modern estate has 5 bed/7 bath,13,578 sq. ft. of living space, and is on a 25,077 sq. ft. lot.
The home features indoor/outdoor living, a game room, wine cellar, movie theater, bar, and fitness studio with a hot and cold plunge, dry sauna, and steam shower.
The backyard has an infinity pool, spa, two fire pits, and a built-in barbecue area.
Last year around this time it was not unusual to see 30 offers for one property. That is not an exaggeration. Then interest rates went up and buyers got scared. In the 4th quarter of 2022, a home on the market was lucky to get 1 offer.
Today, buyers have accepted the higher rates and are actively looking to buy.
I can now report that homes that are priced at market value and are in a decent location are seeing multiple offers again. I have first-hand knowledge of homes in and around the San Fernando Valley that are getting 5, 12, or even 20 offers.
The homes that are overpriced or in a bad location are sitting on the market. Some will point to those homes and say the market is tanking. If you believe the market is tanking then you are not in the real estate trenches.
