Meghan Trainor’s Valley Village Farmhouse hits the market!
4 bed/4 bath, 3,401 sq. ft. of living space, and is on a 7,922 sq. ft. lot.
Asking price: $2,395,000
Text me if you want a tour: 818-445-7953.
Happy Holidays to you and your family!
Hope you all have a Merry Christmas and a wonderful holiday season!
House listings drop 26% in LA County during November
During November, the number of listings for single-family homes declined 26 percent in Los Angeles County, according to a new signed contracts report from Douglas Elliman.
There were 1,794 listings in L.A. County in November compared to October, when there were 2,426 homes listed in the county.
One reason why the inventory has declined is that sellers are delisting their houses until the market changes. On average, 2 percent of homes were delisted each week during the 12-week period ending Nov. 20.
Home sales also declined in November, according to the Elliman report. Last month, 1,643 homes sold. That represents a decline of 18.7 percent from the previous month, when 2,022 home sales closed in Los Angeles County, and a whopping 50 percent fall from the same time a year ago when 3,290 homes sold in the county.
2 California cities top list of places homebuyers want to leave
People are looking to relocate from San Francisco and Los Angeles the most compared to any other city in the United States.
A new report by Redfin found San Francisco topped the list of all cities in America where homebuyers are looking to relocate from. Los Angeles ranked second, followed by New York, Washington, D.C., and Boston. The rankings were determined by net outflow, a measure of how many more Redfin users looked to leave an area than move in.
Sacramento, Las Vegas, and Miami were the most popular destinations for people looking to relocate, followed by San Diego and Tampa. Popularity is determined by net inflow, which is the number of people looking to move into a metro minus the number of people looking to leave.
According to the survey, majority of people relocating from Los Angeles are headed to Sin City. In Las Vegas, the typical home cost $410,000 in October, roughly half the price of the typical home in Los Angeles ($823,000).
Redfin's migration analysis was based on about two million Redfin.com users who viewed for-sale homes online across more than 100 metro areas from August 2022 to October 2022. To measure the share of homebuyers looking to relocate from one metro to another, Redfin calculated the portion of overall home searchers that are migrants.
Private living at its BEST in Los Angeles! Mid Century home for sale now!
Here is the most unique architecturally designed home for sale in Los Angeles right now.
Asking price: $5,000,000
Located in Mandeville Canyon, this Steel-and-Glass Mid Century home has 4 bed/4.5 bath, 4,400 sq. ft. of living space, and is on 3.4 acres of land.
The utterly private home has treetop and mountain views, a double-sided fireplace, sunken living and dining room, wine cellar, family room, den, and a large kitchen.
There is a separate guest house/ recording studio, swimming pool, and carport.
Text me if you want a tour at 818-445-7953.
Look at this Craftsman Bungalow fixer that JUST SOLD in Pasadena!
Best fixer-upper to sell this week in Pasadena!
Asking price: $795,000
Selling price: $890,000
This Craftsman Bungalow has 3 bed/2 bath, 1,176 sq. ft. of living space, and is on a 9,361 sq. ft. lot.
The home located in the Bungalow Heaven District features a front-gabled, brick-walled porch across most of the front of the home.
Since the home is in such bad shape, the property would not qualify for a loan.
Would you take on a project this big?
This Porter Ranch "Hot Home" has everything you need & could want! See for yourself!
"Hot Home” alert in Porter Ranch’s Westcliffe gated community.
Asking price: $2,999,950
This 3 story home has 4 bed/6 bath, 5,314 sq. ft. of living space, and is on a 9,904 sq. ft. lot.
The home features a large great room with high ceilings, a kitchen with a walk-in pantry, a home theater with an open-air deck, and an office with glass walls.
In the backyard, there is a pool with a swim-up bar, rain shower, spa, firepit, outdoor kitchen with BBQ, and basketball court with Kobe Bryant's brand logo.
Text me if you want a tour at 818-445-7953.
High inflation is affecting real estate
Rising inflation is pressing on Americans across the economic spectrum with costs for groceries to gasoline increasing. In November, consumer prices increased by 6.8% compared to a year ago, the largest annual gain in the past 40 years.
Some of the highest increases occurred for energy, shelter, cars, and food, which comprise about 61% of consumer purchases and account for 81% of inflation over the past 12 months, MarketWatch reports.
Renters may be feeling the impact. Rents are up 3% and accelerating at about 5% annually, says Lawrence Yun, chief economist of the National Association of REALTORS®.
Also, heating bills are increasing; natural gas prices have jumped by 25%.
Yun also warns that the increase in inflation is a primary reason that mortgage rates will likely rise in 2022. The 30-year fixed-rate mortgage is predicted to reach 3.7% by the end of 2022. Rates averaged 3.10% last week, according to Freddie Mac.
“One aspect of inflation is that real estate has proven to be a good hedge,” Yun says.
As he explains in a recent statement:
“In the 1970s, a high inflationary period when [the Consumer Price Index] averaged 7.1% per year, home price gains outpaced inflation with a 9.9% gain. Even when interest rates soared in the 1980s and thereby crushed home sales, home prices still held up to consumer price inflation: 5.5% versus 5.6%. That’s because rents are soaring. Other decades also show similar patterns. Therefore, for those concerned about the loss in purchasing power of money and savings, be assured that real estate has proven to be a good hedge against inflation.”
Source: “Instant Reaction: Consumer Price Index, December 10, 2021,” National Association of REALTORS® Economists’ Outlook blog and “Inflation Is Running Rampant in the U.S.—Here’s Where It Is, and Isn’t,” MarketWatch (Dec. 11, 2021).
You don't want to miss out on these past "Hot Home" updates!
Here's an update on 2 "Hot Homes" I recently told you about.
Hot Home #1: Vestal Ave., Los Angeles
Asking price: $2,349,000
Sold price: $2,400,000
Hot Home #2: Acorn St., Chatsworth
Asking price: $1,399,000
Sold price: $1,500,000
Here is Hollywood Hills' longest ACTIVE home on the market - right now!
Here is the longest active home on the market in the Hollywood Hills... 239 days!
Current asking price: $6,395,000
Original asking price: $6,750,000
The main home and 2 story guest house have a total of 6 bed/8 bath, 7,202 sq. ft. of living space, & is on a 29,927 sq. ft. lot.
The property is at the end of a cul-de-sac, has a courtyard with a fountain, and amazing jetliner views.
There are multiple seating areas, fruit trees, a sports court, and an Ozone infinity pool with a spa on the private grounds.
Text me if you want a tour at 818-445-7953.
Transform this fixer-upper "HOT HOME" into the home of your dreams!
CLICK HERE to see my episode of "House Hunters Renovation"!
“Hot Home” alert in Sierra Madre.
Asking price: $1,198,000
This fixer-upper has 3 bed/2 bath, 1,794 sq. ft. of living space, and is on a 10,439 sq. ft. lot.
The home features original hardwood floors, a stone fireplace, laundry room, attached garage, stone driveway, solar panels, and central AC.
The backyard has a covered patio, wood decking, and a fenced-off pool.
Text me if you want a tour at 818-445-7953.
You can't find this off-market West Hills home anywhere else but here!
Here is my latest Off-Market property in West Hills!
•3 bedrooms
•3 bathrooms
•1,910 sq. ft. of living space
•10,985 sq. ft. lot
The home features solar panels, 2 fireplaces, a bonus room perfect for an office or gym, and a private backyard w/ covered patio.
Text me if you want a tour at 818-445-7953.
Check out Meghan Trainor's MEGA new home!
Meghan Trainor just bought this Encino Estate.
Asking price: $6,995,000
Selling price: $6,550,000
•6 bedrooms
•8 bathrooms
•9,936 sq. ft. of living space
•47,649 sq. ft. lot
The home features a media room, billiard room, pool, spa, waterslide, tennis court, and a detached guesthouse.
What a great property!
48% of Zillow survey respondents said this
48% of Zillow survey respondents said it’s a good time to buy a home.
Would you buy a home right now?
