L.A. real estate news and insights.
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
On HBO Max, search "House Hunters Renovation".
Then look for Season 9, Episode 4 - Three Agents, One Renovation.
You can also watch at HouseHuntersRenovation.com.
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.
The cross streets are Galendo St. and Esparto St. in Woodland Hills.
Text me for more info at 818-445-7953.
This private, gated home has 4 bed/2 bath, 2,070 sq. ft. of living space, and is on a 10,348 sq. ft. lot.
The home features new light fixtures throughout, new exterior paint, and stucco, and the garage is converted into a family room.
The backyard has a Pebble Tec pool, spa, built-in BBQ, and firepit.
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.
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 the cheapest home sold this week in North Hollywood.
Asking price: $699,000
Selling price: $775,000
This corner lot starter home has 2 bed/1 bath, 810 sq. ft. of living space, and is on a 6,416 sq. ft. lot.
The home features central air/heat, double pane windows, a recently remodeled bathroom, and a 2 car garage that has great ADU potential.
Here is the most expensive home sold this week in Burbank.
Asking price: $2,269,000
Selling price: $2,150,000
This custom-built Craftsman has 4 bed/5 bath, 3,581 sq. ft. of living space, and is on a 7,020 sq. ft. lot.
The completely rebuilt home features a finished basement, an eat-in kitchen with a custom island, a formal dining room, and the living room has a fireplace and wet bar.
The private backyard has a patio, and a recently renovated BBQ area featuring a high-end grill and brick oven.
Text me for more info at 818-445-7953.
Off Market property in Los Angeles.
This home has 3 bed/4 bath, 3,248 sq. ft. of living space, and is on approximately 9 acres of land.
The gated home is at the end of a cul-de-sac and has a great pool and patio area.
The grounds have hiking trails and pathways with multiple decks, all with city and treetop views.
Despite rising interest rates, buyer demand has yet to downshift in California. Home sales likely rose in March from February’s pace and several indicators showed a market that was even more competitive that it was in February with 71% of homes selling above asking prices and the typical home going from list to pending is just 8 days. In addition, the latest survey of REALTORS® suggests that few agents are experiencing buyers putting their search on hold or backing out of existing deals. Many would-be home buyers may be feeling a sense of urgency to complete their purchase before rates rise further, which is keeping the market tight so far.
Source: California Association of Realtors
Here is the cheapest home sold this week in Toluca Woods.
Asking price: $1,599,000
Selling price: $1,830,000
This fixer-upper home has 3 bed/1 bath, 2,210 sq. ft. of living space, and is on a 12,424 sq. ft. lot.
First time on the market in 46 years! Sold for $231K over the asking price – All cash!
Text me for more info at 818-445-7953.
Off Market property in El Sereno. You won't find this on Zillow or Redfin.
This home has 3 bed/3 bath, 2 car garage, 1,747 sq. ft. of living space, and is on a 5,951 sq. ft. lot.
Recent upgrades include new interior/exterior paint, new bathrooms, new flooring, and an updated kitchen with a moveable island.
With mortgage rates now nearing 5%, many aspiring home buyers may have reached the top of what they can afford, especially as 40-year-high inflation affects the threshold for them.
As a result, the number of sellers dropping their asking price is growing at a faster clip than in the recent past. About 12% of homes for sale had a price drop during the four weeks ending April 3. That marks a jump from 9% a year ago.
Home prices are well above levels from a year ago. The average borrower is paying about 40% more than they would have for the same home a year ago on a monthly payment due to higher mortgage rates and higher home prices, according to the National Association of REALTORS®.
More consumers believe that mortgage rates and home prices will rise further, according to a monthly consumer sentiment index from Fannie Mae. “If consumer pessimism toward homebuying conditions continues, and the recent mortgage rate increases are sustained, then we expect to see an even greater cooling of the housing market than previously forecast,” Mark Palim, vice president and deputy chief economist at Fannie Mae, wrote about the consumer sentiment index’s findings.
However, some buyers may see an opening in the market. They may want to rush ahead of further mortgage rate increases or may see an uptick in new listings.
Source: “Rising Mortgage Rates Are Causing More Home Sellers to Lower Their Asking Prices,” CNBC (April 7, 2022)
P Diddy is selling his Toluca Lake home that his ex Kim Porter lived in.
Asking price: $6,999,999
Selling price: Pending
This gated estate has 6 bed/7 bath, 9,655 sq. ft. of living space, and is on a 23,399 sq. ft. lot.
The home features a grand 2 story entry foyer, a large kitchen and great room, a fireplace and balcony in the master suite, and a media room upstairs.
The backyard has a large pool w/ spa, lawn, and basketball court.
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?
