L.A. real estate news and insights.
Carl from the ‘Walking Dead,’ actor Chandler Riggs's LA home, hits the market.
This CA Farmhouse has 5 bed/5 bath, over 2,607 sq. ft. of living space, and is on a 6,301 sq. ft. lot.
The remodeled home features a separate downstairs 2 bed/2 bath guest suite that has potential income opportunity.
Asking price: $2,195,000
Text me for a tour at 818-445-7953.
Backstreet Boys’ AJ McLean finds a buyer for his Westlake home.
The property features soaring ceilings, a chef's kitchen, a pool with a hot tub, and outdoor patios.
Asking price: $3,495,000 – In Escrow
Marshmello sells his Beverly Hills mansion in an off-market deal
This Mulholland Estates home has 5 bed/6 bath, 7,818 sq. ft. of living space and is on a 29,621 sq. ft. lot.
The estate features a double-height foyer, eat-in kitchen, library/office, and a finished basement with a lounge/entertainment center.
Selling price: $15,000,000
Kaley Cuoco just bought this brand-new home!
This Modern Ranch-style home has 5 bed/8 bath, 6,995 sq. ft. of living space, and is on nearly 2 acres.
The property features panoramic, unobstructed views, indoor/outdoor living with multiple pocket doors, a home theater, and a wine cellar.
5708 Mammoth Ave.
Valley Glen, CA 91401
-3 bedrooms + an extra room that can easily be used as a 4th bedroom or office.
-2 bathrooms
-1,600 Sq Ft
-Sparkling pool
Asking price is $1,199,995
more details, including photos and video coming soon!
Text me if you have any questions 818-445-7953.
Kaley Cuoco is selling her Agoura Hills home!
Original Asking price: $7,000,000
Current asking price: $6,495,000
This Lobo Canyon home has 4 bed/4 bath, 5,647 sq. ft. of living space, and is on nearly 9 acres of land.
The private home features Fleetwood pocket doors, a floating staircase, a wine bar, a theater room, and panoramic views.
There is a 45-foot infinity pool, spa, outdoor living room, barbecue center, new fireplace, and firepit.
Text me if you want a tour: 818-445-7953.
Matthew Perry just bought this home in the Hollywood Hills in an off-market deal.
Asking price: $6M
Selling price: $5,250,000
This Mid-century modern home has 3 bed/4 bath, 2,566 sq. ft. of living space, and is on a 9,622 sq. ft. lot.
The newly renovated home is fully furnished, wired for sound throughout, and has an open floor plan, an eat-in kitchen, and Fleetwood sliding doors.
There is a pool and landscaped gardens outside.
What’s interesting about most data reports is that they are 1 - 2 months behind. For example, the S&P Case-Shiller Home Price Index that was released today discusses sales data for February. There is no mention of what the market has been going through in March and April.
I can personally tell you that in April we are seeing multiple offers on well priced properties. In many cases homes are selling well above asking price. I would imagine that when the April Home Price Index report comes out in 2 months, it will show that the 1.3% price drop experienced in February will be a thing of the past and the numbers will turn positive. I could be wrong, but I doubt it based on what I am seeing.
Here is some data from today’s S&P Case-Shiller Home Price Index report:
Miami’s 10.8% year-over-year gain made it the best-performing city for the seventh consecutive month. Tampa (+7.7%) and Atlanta (+6.6%) continued in second and third place, with Charlotte (+6.0%) close behind.
Results were different in the Pacific and Mountain time zones. Last month, four West Coast cities (San Francisco, Seattle, San Diego, and Portland) were in negative year-over-year territory. In February they were joined by four of their western neighbors, as Las Vegas (-2.6%), Phoenix (-2.1%), Los Angeles (-1.3%), and Denver (-1.2%) all tipped into negative territory.
Today’s homebuyers are exceptionally sensitive to mortgage rates with house prices so high — and they’ve found their tipping point.
The majority of potential homebuyers, 71%, say they will not accept a 30-year fixed mortgage rate over 5.5%, according to a survey done in March by John Burns Research and Consulting. The current rate, however, is around 6.4%.
If so many potential buyers, however, are saying they won’t buy unless they get a rate below 5.5%, they may be sitting on the sidelines for a while. Mortgage rates have been over 6% for nearly a year and are not expected to move much lower this year.
An April survey from U.S. News and World Report seems to corroborate these findings: It found that 66% of Americans who plan to buy a home this year said they are waiting until rates fall.
The U.S. News survey also found that 25% of homebuyers who are holding out for lower rates are waiting until they drop below 5%. Nearly two-thirds of respondents said they’ve had to reduce their housing budgets due to the current level of mortgage rates.
A new state program just launched for first-time homebuyers. The California Dream For All program provides homebuyers with financial assistance equal to 20% of a home’s purchase price. Those funds can be used for a downpayment and closing costs when purchasing your first home. The program offers first-time homebuyers in California a shared appreciation loan of up to 20% of the cost of the home. If you’re buying a $500,000 home, you’d receive 20%, or $100,000, to help with a downpayment and closing costs. Once the homebuyer sells their home at a later date, they would be required to pay back the 20% assistance, plus 20% of the home’s appreciation. If your $500,000 home sells in five years for $700,000, you’d owe 20% of $200,000 appreciation — or $40,000 — in addition to the original loan. If you sell your home and it hasn’t grown in value, you’d only pay back the original 20% loan, according to the California Housing Finance Authority,
This program is open to first-time homebuyers in California — meaning you’ve never owned a home. A first-time homebuyer is also someone who owned a home three or more years ago and sold it, according to the CalHFA. Borrowers must also plan to live in the new property they are buying. The program does not allow for non-occupant co-borrowers or co-signers. In addition to being a first-time homebuyer, borrowers must meet income requirements depending on their county. In Los Angeles County, borrowers must make under $180,000 per year.
Better hurry! The state has allocated about $300 million toward the California Dream For All program, according to State Treasurer Fiona Ma. This will provide assistance for an estimated 2,300 homebuyers in California.
Source: NBC 4 Los Angeles
Mark Wahlberg has finally sold his Beverly Hills Estate.
Original asking price: $87,500,000
Last asking price: $79,500,000
Selling price: $55,000,000
This massive estate has 12 bed/20 bath, 30,500 sq. ft. of living space, and is on 6.2 acres.
The grounds include manicured gardens, a 5-hole golf course, a tennis court, a resort-like grotto pool, a skate park, and a guest house.
Here is the most unique home for sale in the Hollywood Hills.
Asking price: $16,000,000
This "Rainbow House" has 3 bed/3 bath and 2,596 sq. ft. of living space on a 9,601 sq. ft. lot.
Designed by the world-renowned architect John Lautner in the 1960s.
The property features a lava rock entryway, original terrazzo flooring, a signature parabolic roof, and 60-foot caissons elevating the structure above the canyon, showcasing breathtaking panoramic views of Los Angeles.
Call me for more info at 818-445-7953.
Tyler, the Creator, lists Bel Air home at a loss.
Asking price: $6,999,999
This Mid-Century home has 4 bed/5 bath, 5,826 sq. ft. of living space, and is on a 45,738 sq. ft. lot.
The home features a state-of-the-art home theater, gym, chef's kitchen, and amazing views of the surrounding city and ocean.
Outdoors are grassy lawns, a fire-pit seating area, a built-in BBQ with bar seating, a fireplace, and an infinity-edged pool and spa.
Text me if you want a private tour at 818-445-7953.
Mark Wahlberg relists Beverly Park mansion at a lower price.
Current asking price: $79,500,000
Original asking price: $87,500,000
This massive estate has 12 bed/20 bath, 30,500 sq. ft. of living space, and is on 6.2 acres.
The home features a 2 story-paneled library, home theater, professional gym, and wine/cigar cellar with a tasting/smoking lounge.
The grounds include manicured gardens, a 5-hole golf course, a tennis court, a resort-like grotto pool, a skate park, and a guest house.
Text me if you want a private tour at 818-445-7953.
The recently released Greater Los Angeles Q2 2022 report shows that closed sales declined 21% in a year-over-year comparison during the second quarter.
The report covers the area spanning downtown Los Angeles to the Westside and the beach cities of Santa Monica and Malibu.
Its information was taken from deals recorded on the MLS.
Source: Sotheby’s International Realty
