L.A. real estate news and insights.
Jeff Bezos, the owner of Amazon, bought the most expensive home sold in Los Angeles in 2020 - $165,000,000
•8 bedrooms
•9 bathrooms
•13,612 sq. ft. of living space
•9.4-acre lot
The property has its own 9-hole golf course, several guest houses, and a tennis court.
What was the best thing you bought on Amazon this year?
Let's Eat!
For the 3rd year in a row, I gave all my friends and clients pies for Thanksgiving!
Didn't get invited?
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Happy Thanksgiving!
An impound account is an account maintained by the mortgage company to collect insurance and tax payments that are necessary for you to keep your home but are not technically part of the mortgage.
Some lenders require this, other lenders don't.
Check with the lender to see what their policies are before choosing to work with them.
It's not the end of the world if you have to get P.M.I., but it should be avoided if possible.
If you can put at least 20% down when buying a home.
By doing so the lender won't require you to get P.M.I.
The asking price for this Woodland Hills home is $1,175,000.
100 Hurlbut St # 9, Pasadena 91105
Asking price: $700,000
Selling price: $705,000
The buyer purchased this unit using a conventional loan.
Burbank only has 30 single family homes for sale right now.
This is my favorite available fixer-upper home.
Asking price is $965,000 and it's been on the market for 2 days.
Jeff Bezos, the founder, CEO, and president of Amazon, reportedly purchased this 9.4-acre showpiece in Beverly Hills for $165 MM.
It superseded the $150MM record set just 3 months ago with the sale of the Chartwell Mansion, which was most well known for being the Clampett’s home in The Beverly Hillbillies.
It was built in 1937 by Jack L. Warner, a co-founder of Warner Bros.
It was designed by Roland Coate in a neoclassical style and has a total of 8 bedrooms and 9 baths.
It is a 13,600 square foot Mansion, with a swimming pool, nine-hole golf course, tennis court, and garages with their own gas pumps.
The seller is American business magnate, producer, film studio executive, and philanthropist, David Geffen.
When the listing agent asks you to get pre-approved with their lender, don't get upset.
Understand that getting that second approval is just part of the home buying process.
Most agents won't even ask you for that second approval, but us good listing agents will.
It's done to protect the sellers.
January continues to be a hot month for the housing market.
Weekly mortgage applications jumped 30% for the week ending Jan. 10, a sign that homebuyers are emerging in 2020.
As I mentioned in the past, buyers typically take a break in December, then start their search again in January.
Dear Friends and Clients,
Thank you to those who participated in our 2nd annual Thanksgiving pie giveaway!
It means a lot that you entrusted us to provide the delicious dessert for your Thanksgiving feast.
The best part was getting to reconnect with friends and past clients and hearing about everyone's Thanksgiving plans.
Hope you all have a wonderful holiday season and an amazing New Year!
This home buyer pattern happens every single year.
Buyers stop their home search in December and pick it back up again in January.
To get top dollar for your home, take advantage of this rough data and choose to list your home for sale in January instead of February.
More buyers on the market lead to more competition.
If your home is priced right, that will lead to multiple offers for your property.
Every year in December, a lot of my buyers that have been looking for a home take a break from the property search.
They are busy with the holidays and parties and family.
But come January 1st, their new year's resolutions of owning a home kicks in and their search gets ramped up again.
As a home seller, you should understand this pattern and take advantage of it.
You can do that by putting your home on the market in January and getting that initial wave of buyers to come check out your home.
If you wait until February to put your home on the market, you miss the buyer rush and your home could stay on the market longer.
If you are going to list your home, be smart about it, and list your home for sale in January.
That means you need to start to prepare for that today!
A laundry room is the most popular specialty room (anything other than a bedroom, bathroom or kitchen) among all buyers according to the new report "What Home Buyers Really Want (2019 Edition).”
Millennial homebuyers in particular love a separate laundry room with 86% of them reporting that it is desirable (36%) or essential/must have (50%) room.
You already put down a huge down payment when buying a house... you are tapped out.
But then, SURPRISE… here comes a supplemental tax bill in the mail!
It's terrible, but it's part of the home buying process and you have to pay it.
I know the pain... I had to pay that bill myself when I bought my home.
Keep in mind everyone pays a different tax amount, so make sure to ask your real estate agent (or me, wink wink) what the tax amount will be for the home you are interested in buying.
That way there are no surprises, and you can budget for that bill and your down payment.
