New listings in June take a big year-over-year hit in LA County
There was about a 41% drop year-over-year for active listings in LA county (2,096 listings in June 2023 versus 3,531 listings in June 2022).
Source: Douglas Elliman Report
Survey: 94% of Sellers Don’t Disclose Property Defects
In a recent small survey, more than 90% of homebuyers say they found at least one issue with their home after the transaction that the seller didn’t disclose, according to a new survey from Cinch Home Services, a home warranty company. Even more alarming is that 94% of sellers admit to selling their homes without disclosing a known issue.
The top three problems buyers discovered after closing involved the electrical system, fixtures, and plumbing. The survey shows the majority came from unpermitted repairs and upgrades.
Source: Survey of 494 homebuyers and 476 sellers within the last year conducted by Cinch Home Services
Successful DJ Marshmello is selling his stunning LA home! See inside!
Marshmello lists his L.A. home for $5,495,000.
This Laurel Canyon home has 5 bed/6 bath, 4,852 sq. ft. of living space, and is on a 10,914 sq. ft. lot.
The home features indoor/outdoor living, a free-floating staircase with glass rails, a modern kitchen with Miele appliances, and the breakfast area overlooks the backyard with a private terrace.
The entertainers’ backyard has a covered living area, fireplace, firepit, swimmers pool, multi-level deck, spa, and flat grassy area.
Text me if you want a tour at 818-445-7953.
LA monthly mortgage payments increased 40%
Core Logic has reported that median monthly mortgage payments in Los Angeles have increased 40 percent from 2021 to 2022.
Real estate experts blame this on the high prices of homes and mortgage rates for this occurrence according to CBSNews.com.
This is how long it takes to find a home buyer...
•27% of home sellers said they had five or fewer in-person showings before finding a buyer.
•26% had between 6 and 10 in-person showings before finding a buyer.
•10% say they had no in-person showings at all and were still able to sell their home.
Source: A new survey of about 1,600 homeowners conducted by Homes.com.
