Asking price $1,299,999
For the general location, in Google maps, put in "Huntington Dr. and Alhambra Rd."
This home has 2 bed/2 baths, 1,392 sq. ft. of living space, and over 6,616 sq. ft. for the lot.
Text me for more info at 818-445-7953.
Homeowners tempted to use equity
Homeowners are seeing record levels of equity in their properties, and many plan to tap into some of that newfound wealth.
Mortgage holders have an average of about $185,000 in home equity, according to research from Black Knight. That amount assumes retaining a 20% stake in the property.
The options to draw money from a home are typically cash-out refinancing, home equity lines of credit, and reverse mortgages. Homeowners aged 62 and over have been using equity from their homes more often, driven mostly by cash-out refinances, according to Urban Institute research.
“As interest rates rise in the coming year, you could see folks using more second lien products … to tap some of that equity when they need it,” Karan Kaul, principal research associate at the Urban Institute’s Housing Finance Policy Center, told CNBC. “Folks already have a very low rate, and as rates rise, it’s not going to be economical for most of them to refinance.”
Kaul predicts a shift from cash-out refinances to HELOCs, which are often used to remodel a home.
But Greg McBride, chief financial analyst at Bankrate.com, says that even as more homeowners consider leveraging equity in their home, they should remember that it isn’t 2005, when equity lending policies were looser. He says lenders aren’t allowing homeowners to pull out “every last nickel of equity that you have. Just because you have home equity doesn’t mean you can borrow from it,” he told CNBC. Most lenders will require owners maintain at least 20% equity in their home.
Take a look at the cheapest home sold this week in West Hills!
Here is the cheapest home sold this week in West Hills!
Asking price: $795,000
Selling price: $840,000
This corner lot home has 3 bed/2 bath, 1,456 sq. ft. of living space, and is on an 8,508 sq. ft. lot.
The home features an open floor plan and an attached 2 car garage.
Do you think it was a good deal?!
Emmy Rossum & her husband Sam Esmail buy a new fancy home!
Emmy Rossum & Sam Esmail just bought this Mansion in Brentwood!
Asking price: $15,995,000
Selling price: $15,305,547
This Classic Traditional Estate has 7 bed/9 bath, 12,584 sq. ft. of living space, and is on an 18,750 sq. ft. lot.
The 3 floored home features an indoor/outdoor feel, with a gym, theater, butlers pantry, elevator, smart house tech, and 2 staircases.
The backyard has a loggia w/ fireplace & heaters, a huge field size lawn, BBQ, pool, spa & patios w/ firepit.
Don't ignore this "Hot Home" in Los Feliz!
Text me if you want a tour at 818-445-7953.
"Hot Home” alert in Los Feliz!
Asking price: $1,998,000
This home has 3 bed/2 bath, 1,696 sq. ft. of living space, and is on a 5,980 sq. ft. lot.
The home features high-vaulted ceilings, an oversized brick masonry fireplace, and all bedrooms have access to the private backyard.
There is a waterfall swimmers pool, spa, dining patio, and grassy area in the backyard.
This week's "HOT HOME" in Toluca Terrace - Get it while it's HOT!
Text me if you want a tour at 818-445-7953.
"Hot Home” alert in Toluca Terrace!
Asking price: $1,825,000
Built in 1941, this home has 4 bed/3 bath and 2,490 sq. ft. of living space. The lot is 7,666 sq. ft.
Move-in ready, hardwood floors, high ceilings, and an attached 2 car garage.
This Victorian home retains its old charm with new modern amenities!
This is the oldest home on the market in Pasadena - built-in 1883.
Asking price: $1,980,000
The Victorian home has 3 bed/3 bath, 2,224 sq. ft. of living space, and is on a 7,631 sq. ft. lot.
The backyard has a built-in BBQ, and there is a detached 2 car garage with an extended multi-functional studio with a bathroom and skylights.
Text me if you want a tour at 818-445-7953.
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.
Don't miss out my latest OFF MARKET property in Woodland Hills! Contact me ASAP!
Off Market property in Woodland Hills. You won't find this one anywhere else but here.
This home has 5 bed/4 bath, 3,244 sq. ft. of living space, and is on a 9,913 sq. ft. lot.
The home features a double door entry into the foyer, a formal dining room, and an open kitchen with a breakfast bar.
The master bedroom has a walk-in closet, ensuite bathroom with shower, and jacuzzi tub.
Text me if you want a tour at 818-445-7953.
See my new OFF MARKET PROPERTY! Corner unit condo in Valley Village!
Off Market Condo Alert for Valley Village!
The condo has 2 bed/2 bath, and 1,260 sq. ft. of living space.
This corner unit features a large open floor plan, remodeled bathroom, laundry in unit, large bedrooms, private balcony, and 2 gated parking spaces.
Text me if you want more info 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.
LA home prices expected to go up 4.8% in 2022
Home shoppers may find some relief for escalating home prices, which have been trending with double-digit increases over the past year. Lawrence Yun, chief economist of the National Association of REALTORS®, said in a recent housing report that home prices likely will increase at a “gentler pace” over the next several months.
Realtor.com® released its 2022 housing forecast. They predict home prices in Los Angeles will go up 4.8%.
Take a look at this week's CHEAPEST home sold in Valley Glen!
Did the seller get a good deal?
Here is the cheapest home sold this week in Valley Glen.
Asking price: $895,000
Selling price: $932,000
The property has 4 bed/3 bath, 1,605 sq. ft. of living space, and is on a 5,940 sq. ft. lot.
The home features newly refinished hardwood floors, a freshly painted exterior, new carpet in bedrooms, dual pane windows, and loads of closet space.
There is also a large covered patio and swimming pool in the backyard.