L.A. real estate news and insights.
Do you think they should reduce the price?
Here is the longest active home on the market in Chatsworth.
The asking price is $15,000,000. The property has been on the market for 260 days with no price reductions.
This Trophy Compound in the foothills of the Santa Susana Mountains has 7 bed/11 bath, 11,755 sq. ft. of living space, and is on almost 16 acres.
"The Ranch" features a main residence, 3 guest bungalows, an art gallery, and a ballroom.
Text me if you want a tour at 818-445-7953.
This is the cheapest home sold this week in Pasadena.
Asking price: $649,000
Selling price: $861,000
This bungalow starter home has 2 bed/1 bath, 903 sq. ft. of living space, and is on a 5,195 sq. ft. lot.
The home features a brick fireplace in the living room, hardwood floors throughout, and LG appliances in the kitchen.
In the oversized fenced backyard, there is a covered patio, fruit trees, and a parking area.
Is this home worth the selling price?
Here is the most expensive home sold in North Hills this week.
Asking price: $899,000
Sale price: $941,000
This home has a total of 5 bedrooms/ 3.5 bathrooms, 2,661 sq. ft. of living space, and a 7,805 sq. ft. lot.
The home features a newly remodeled farmhouse kitchen and a 2 bed / 1 bath guest unit above the garage.
48% of Zillow survey respondents said it’s a good time to buy a home.
Would you buy a home right now?
This is the answer I'm supposed to give: California home price increases are expected to slow in 2021, but the Los Angeles-based California Association of Realtors doesn't forecast widespread price drops.
Despite the economic uncertainty caused by the pandemic, California home prices are predicted to edge up 1.3%.
Low mortgage rates and pent-up demand are credited with propping up the market despite the pandemic slow-down.
Here is my real opinion: I'm currently working with several sellers in a few different price ranges.
I'm still getting multiple offers on my listings, way above what I feel is the market value of the home.
Although the official data isn't out yet, I'm seeing that prices have been steadily going up about 1% every single month for the last few months.
LA homes have had such a huge price increase in 2020 that I believe this pace can't keep up.
I predict home prices will go up 3%-4% in 2021.
That is much higher than what the analysts predict, but I'm in the trenches talking with buyers and sellers every day.
I see the demand for housing right now, and that will drive home values above the estimated 1.3% in 2021.
This is the most expensive home for sale this week in Valley Glen.
Asking price: $1,199,777
•4 bedrooms
•3 bathrooms
•2,397 sq. ft. of living space
•6,499 sq. ft. lot
•The home has a new roof, windows, and water heater
•Stainless steel appliances in kitchen
•Private backyard w/ covered patio
Text me if you want a tour at 818-445-7953.
Move-in ready homes are still very high in demand, but with the housing inventory being tight, buyers are not so quick to dismiss those homes that need a little more TLC as they have done so in the past.
If you have time to oversee the remodel, have cash on hand to pay for the remodel, and are up for the challenge, I suggest getting a fixer-upper.
That is how you build wealth in real estate.
