2nd historic fed rate hike unlikely to ‘further damage’ mortgage borrowers

Here is a little good news on this bad economic day....

The Federal Reserve made another aggressive move Wednesday, raising its benchmark rate by three-quarters of a percentage point for the second time this year to try and tame the economy. However, higher mortgage rates may not necessarily be on the horizon as a result, says Lawrence Yun, chief economist for the National Association of REALTORS®.

“This is unlikely to do any further damage to mortgage rates,” Yun says.

“It is possible that the 30-year fixed-rate mortgage may settle down at 5.5% to 6% for the remainder of the year,” Yun says.

Ozzy is selling his Hancock Park mansion and moving back to his motherland!

Ozzy & Sharon Osbourne have listed their Hancock Park mansion for $18M.

This private estate has 6 bed/7 bath, 11,565 sq. ft. of living space, and is on a 24,320 sq. ft. lot.

Designed by architect A.K. Kellogg, the home features a chef's kitchen, a wood-paneled library, an elevator, and a screening room with a fireplace and bar.

The backyard has a pizza oven, barbeque, gardens, a swimming pool, and a guest apartment above the garage.

Text me if you want a tour at 818-445-7953.

Housing inventory rising to pre-pandemic levels

After several years of extremely depressed inventory available for sale, buyers are seeing the number of options available on the market return to pre-pandemic levels.

Last week, there were nearly 46,000 homes listed on various MLS's across California. That is well above 2021 levels and is approaching the 2020 peak reached before the effects of the pandemic began to erode supplies.

Listings of homes priced below $600,000 have started to rise as well, with twice as many homes between $400,000 and $600,000 for sale last week than at the beginning of the year.

Here is the most unique home for sale this week in Bel Air! For only $16.5M it could be yours! 😏💲

Here is the most unique home for sale in Bel Air.

Asking price: $16,500,000

This new construction home has 4 bed/4 bath, 7,440 sq. ft. of living space, and is on a 10,316 sq. ft. lot.

The automotive-inspired intelligible shell-shaped home features a split-level architecture, indoor/outdoor flow, a wrap-around balcony, central bridging stairs, and a glass elevator cabin with a frameless glass shaft.

The rooftop deck has views of the Pacific Ocean and was constructed with a raised pedestal floor system that eliminates standing rainwater.

Text me if you want a tour at 818-445-7953.

Actress Alyson Hannigan just listed her home which was featured on NBC's 'This is Us'! Take a look!

Alyson Hannigan’s gorgeous ‘This is Us’ house is on the market for $18M.

This multi structure-property has a total of 5 bed/8 bath, 7,605 sq. ft. of living space, and is on 3.26 acres of land.

Designed by architect Peter Tolkin, the gated hillside structures are made of concrete, wood, and glass pavilions.

The grounds have sycamores, orange, avocado, palm trees, succulents, an oversized tennis court, a swimming pool & spa.

Text me if you want a tour at 818-445-7953.

My newest off-market property has an infinity pool & amazing views! See for yourself!

For the general location, the nearest major cross streets are Mulholland Dr and Woodrow Wilson Dr. in the Hollywood Hills.

Text me for more info at 818-445-7953.

This English Tudor home has 6 bed/8 bath, 7,202 sq. ft. of living space, and is on a 29,927 sq. ft. lot.

The compound features vaulted beamed ceilings, 4 fireplaces, both upstairs bedrooms are private ensuites and a 2-story guest house.

The grounds are private with multiple seating areas, a heated ozone infinity pool and spa, and panoramic views of the valley.

CA median home price predicted to fall 7.1% next year

This picture was taken yesterday on the 4th of July. I was happy yesterday while participating in the wave at the Dodger game. I'm not so happy today after learning that my home's value will likely go down next year.

“It’s noteworthy,” Jordan Levine, chief economist at the California Association of Realtors, told the Los Angeles Times. “Prices are going to go down.”

Next year, he thinks the combination of job losses and higher interest rates will cause the statewide median home price to fall 7.1 percent compared with this year, with similar declines expected in Southern California.

Well, at least the Dodgers won.

Take all my money! I need that infinity swimming pool now! #summervibes

Here is the most expensive home sold this week in Sherman Oaks.

Asking price: $3,995,000

Selling price: $3,705,000

This home has 4 bed/4 bath, 3,661 sq. ft. of living space, and is on an 11,323 sq. ft. lot.

The home features a dual-sided stone fireplace in the living areas, top-of-the-line appliances in the kitchen, and a fully equipped media room with a wet bar.

The backyard has an infinity pool and spa, multiple patios, a fireplace, an outdoor kitchen, and canyon views.

OMG... somebody paid a lot of money this week for this LA home!

This is the most expensive home to sell this week in Los Angeles.

Asking price: $25,000,000

Selling price: $23,900,000

Located in the Brentwood area, this brand new construction home has 8 bed/11 bath, 12,043 sq. ft. of living space, and is on a 38,928 sq. ft. lot.

The home features disappearing electrified Fleetwood doors, an attached 3 bedroom guesthouse, and a chic screening room with blue velvet walls.

There is a Cantera stone patio in the backyard that overlooks a 48-foot swimmers pool and spa along with an outdoor cabana that has a fireplace and kitchen.