L.A. real estate news and insights.
Did you see the ADU?
For the general location of this Sierra Madre off-market property, in Google maps, put in "Grand View Ave. and Cañon Ave."
Text me for more info at 818-445-7953.
The Spanish-style home features wrought iron railings, arch-shaped doors, stained glass windows, and a gourmet kitchen.
Outside there are fruit trees, a gazebo, and an ADU.
For the general location of this off market property, in Google maps, put in "Ventura Blvd. and Sepulveda Blvd."
Text me for more info at 818-445-7953.
Both units have 2 bed/2 baths, with a combined total of 2,165 sq. ft. of living space and are on a 5,250 sq. ft. lot.
Both units feature updated bathrooms, new flooring, recessed lighting, new dual-pane windows, and a washer and dryer.
The upstairs unit has a large deck, and the downstairs unit has a private patio and yard.
Text the word "pie" to 818-445-7953, and you will get on the list for next year.
Happy Thanksgiving!🥧
An analysis from the real estate site Redfin finds that would-be homeowners now need to earn $200,000 or more in eight U.S. cities, including L.A. This is because the average rate for a 30-year fixed loan is now hovering near 7%. Mortgage payments rose by an average of nearly 46% over the last year.
The typical U.S. homebuyer needs to pull down about $107,000 a year to afford a median monthly mortgage payment of roughly $2,700. Only a year ago, your salary needed to be closer to $74,000.
But some locations are much, much more expensive than others. In L.A., the median home price is $823,500. That means, by Redfin’s calculation, you need an annual income of $221,592 to make the numbers work.
Do you have a friend or neighbor who might be thinking about selling their property?
Referrals are what keep my real estate business going!
It would mean the world to me if you shared this message with homeowners you know who are ready to make a move.
Below are some of the properties I recently sold.
Let's get your friend's property on this list!
Text me anytime at 818-445-7953.
Thanks!
•17911 Topham St, Encino 91316
•1717 Loma Vista St. Pasadena, CA 91104
•364 Wapello Street, Altadena, CA 91001
•22227 Bassett Street, West Hills, CA 91303
•4058 Mckinley Avenue, Los Angeles, CA 90011
•1366 Casmalia Court, Simi Valley, CA 93065
•11306 Victory Blvd, North Hollywood 91606
•10660 Wilsey Avenue, Tujunga, CA 91042 - In Escrow
•1124 N Naomi Street, Burbank, CA 91505 - In Escrow
In Los Angeles County, signed contracts for single-family homes priced at below $5 million far outpaced new listings in the category last month, as inventory couldn't keep up with demand.
Data shows 4,308 signed contracts countywide for single-family homes in all price categories in March and just 2,395 new homes listed.
In L.A. County, single-family homes in the $500,000 to $699,000 range were particularly popular.
At that price point, there were 1,093 deals last month but fewer than 400 new listings.
In the over $5 million single-family home category, there was still plenty of supply.
There were 92 signed contracts in that range compared to 179 homes that hit the market.
Source: Douglas Elliman by appraiser Jonathan Miller.
Comment below on why you think LA homeowners are not putting their homes up for sale.
Text me if you want a tour at 818-445-7953.
“Hot Home” alert in Pasadena!
This Mid Century Modern home has 4 bed/3 baths, 1,883 sq. ft. of living space, and is on a 9,380 sq. ft. lot.
The property features wood floors throughout the home, a bright gourmet chef’s kitchen that opens to an outdoor lounge area, and all the windows look out to the lush greenery surrounding the home.
The Master bedroom has high arched ceilings, a large walk-in closet, and a spa-like ensuite bath.
Text me if you want to see this unique home at 818-445-7953.
Here is the weirdest home to hit the LA market.
Located in Hollywood Hills West, the asking price is $11,000,000.
This "party pad" has 5 bed/6 baths, 7,000 sq. ft. of living space, and is on an 8,376 sq. ft. lot.
The property features a huge nightclub below the pool that can house at least 150 people.
There is also a casino, cinema room, grotto with jacuzzi, waterfall, cave, steam room, and sauna.
Text me if you want a tour at 818-445-7953.
Modern Family star Jesse Tyler Ferguson is selling his beautiful Los Feliz Home for $6,995,000!
This Spanish Colonial home has 4 bed/5 baths, 4,926 sq. ft. of living space, and is on a 24,144 sq. ft. lot.
The gated property features an eat-in chef’s kitchen w/ breakfast nook, and the family room converts into a media room w/ projector and drop-down screen.
Outside there is a beautiful pool & spa along with courtyards, fountains, and fireplaces.
Will home prices continue to rise this year?
Home price growth hit levels not seen in 15 years.
The S&P CoreLogic Case-Shiller U.S. National Home Price Index jumped 11.2 percent year over year in January.
That’s up from the 10.4 percent gain in December, which was the best December in seven years.
“Hot Home” alert in LA's Trendy Oaks area.
This contemporary architectural home has 3 bed/3 baths, 2,345 sq. ft. of living space, and is on a 4,518 sq. ft. lot.
The property features brand-new wide plank hardwood floors, remodeled gourmet kitchen with Viking appliances, a soaking tub, a separate shower in Master Bathroom, and amazing canyon/mountain views.
Text me if you want a tour at 818-445-7953.
There will only be 1 off-market showing for this Brentwood Park property - August 15th.
The home will officially hit the market in September.
Text me for more info 818-445-7953.
It's very important to work with a lender that you trust AND has good communication skills.
During escrow, questions and issues will come up.
Your lender needs to be on top of things, resolve problems quickly, and communicate well so that escrow is as easy as possible for everyone involved.
PEAD-V (Coronavirus Property Entry Advisory and Declaration - Visitor) forms are now required to be signed by anyone entering into a home that is on the market.
The form basically says the visitor does not have the coronavirus and that the visitor understands the health risks involved when entering into the for sale property.
Homeowners, in order to avoid a lawsuit, you want to make sure everyone who is going to tour your home signs this form before setting one foot on to your property.
The flu season is going to look very different this year.
When everyone starts to get the flu in October, all we are going to hear about in the news is that the second wave of the coronavirus is coming.
I’m not a doctor so I don’t know if that will happen or not.
However, I do know that since a lot of people will be sick with the flu, the perception by the public in LA county will be that a second wave is inevitable.
Because of this perception, there will be fewer homeowners willing to put their property on the market, just like in late March after the stay-at-home order was issued.
I believe we will likely see a dip in home sales during that time in October.
I’m optimistic things will settle down by the time we get to December.
Hopefully, the homeowner’s perceptions will change once the news gets better.
