L.A. real estate news and insights.
Best fixer-upper to sell this week in Pasadena!
Asking price: $795,000
Selling price: $890,000
This Craftsman Bungalow has 3 bed/2 bath, 1,176 sq. ft. of living space, and is on a 9,361 sq. ft. lot.
The home located in the Bungalow Heaven District features a front-gabled, brick-walled porch across most of the front of the home.
Since the home is in such bad shape, the property would not qualify for a loan.
Would you take on a project this big?
"Hot Home” alert in Porter Ranch’s Westcliffe gated community.
Asking price: $2,999,950
This 3 story home has 4 bed/6 bath, 5,314 sq. ft. of living space, and is on a 9,904 sq. ft. lot.
The home features a large great room with high ceilings, a kitchen with a walk-in pantry, a home theater with an open-air deck, and an office with glass walls.
In the backyard, there is a pool with a swim-up bar, rain shower, spa, firepit, outdoor kitchen with BBQ, and basketball court with Kobe Bryant's brand logo.
Text me if you want a tour at 818-445-7953.
The pandemic triggered a suburban home rush, and more than a year in, that doesn’t appear to be letting up. Even as big cities stage a housing comeback, the suburbs remain hot.
The number of home buyers shopping nationwide for suburban homes has jumped 42.1% since the pandemic began, realtor.com®’s data shows. Suburban homes comprised 62% of online home views in September compared to 38% for listings in urban areas.
“The suburbs have always attracted home buyers looking for more house for their money, but recent data reflects just how much suburban competition has intensified,” says Danielle Hale, realtor.com®’s chief economist. “With the rise in long-term remote work options and downtown rents making a rapid comeback, suburban vs. urban housing dynamics are shifting.”
Suburban housing activity continues to accelerate at a faster pace than in urban areas, Hale says. Further, “the price premium is shrinking between notoriously expensive urban housing and suburban for-sale homes, typically known for more bargains,” Hale says.
Inventories are slim, however. The number of homes for sale in the suburbs was down 13% annually in September compared to 8% in urban areas, realtor.com® reports.
Prices are rising faster in suburban locales. In 2020, the suburbs outpaced their urban counterparts’ price growth for the first time since 2017. The median listing price per square foot reached $212 in the suburbs in September, which is 18% higher than a year ago and 28.4% higher than the pre-pandemic 2019 level, according to realtor.com®. On the other hand, the median listing price per square foot of urban homes was $226, 14.9%, and 25.4% higher than 2020 and 2019, respectively.
Here's an update on 2 "Hot Homes" that I told you about in October 2021.
Hot Home #1: Atoll Ave., Sherman Oaks
Asking price: $2,179,000
Sold price: $2,220,000
Hot Home #2: Griffith Park Dr., Burbank
Asking price: $975,000
Sold price: $1,112,000
With a full-on marketing blitz on Instagram, Facebook, Tik Tok, Zillow, Redfin, Trulia, Etc... my latest Los Angeles listing was sold within days of hitting the market. The sellers are thrilled they no longer have to take care of this investment property. The buyers can't wait for the next chapter of their life to begin in their new home. I'm very happy it worked out for both of them! If you know someone who needs to sell their home, please text me their info, and I'll take care of the rest.
Here is my cell number 818-445-7953. Thanks!
CLICK HERE for the properties website.
Here is the cheapest condo sold this week in Hollywood.
Asking price: $465,000
Selling price: $479,000
This condo has 1 bed/1 bath and 824 sq. ft. of living space.
The newly remodeled condo features recessed lighting, in-unit washer/ dryer hookups, newly painted throughout, dual pane windows, and an upgraded electrical panel.
Do you think a 1 bedroom condo is a good investment?
I know Los Angeles is expensive, but I didn't know we rank #2!
LA has again ranked as the country’s second least affordable city for prospective homebuyers, according to a report published Monday by the website RealtyHop. The report states a family making the median income ($62,000) would have to spend over 80 percent of it on mortgage payments and property taxes.
New York, with a slightly higher median home price, ranked as even less affordable, with the average family there required to fork over 82.9 percent of income in order to buy a median-priced home.
L.A.’s median home listing price in August was $940,000. In June, when it was $955,000, the city ranked as the country’s least affordable, and New York ranked a narrow second.
What do you think it's worth? Comment below...
This home has been on the market longer than any other for sale property in Studio City - 347 days!
Asking price: $12,999,999
This French Chateau style home has 5 bed/6 bath, 7,600 sq. ft. of living space, and is on 3 acres.
Text me if you want a tour at 818-445-7953.
The rush is on to see a house as soon as it’s listed. But after the first five days of listing a home, showings drop considerably, according to a new analysis of June home showing data from ShowingTime, a showing management and tech firm for residential real estate.
ShowingTime’s June analysis of more than 6 million properties nationwide revealed a significant slowdown in home showing traffic compared with more recent months. That may be due to more listings coming on to the market: New listings in June rose 5.5% year over year and are up 10.9% over the prior month, according to a new report from realtor.com®.
Still, the first five days of listings are “hyperactive with double-digit showings and offers submitted quickly,” according to ShowingTime.
New Los Angeles listings averaged more than 30 showings in the first five days, according to the ShowingTime index.
Quick update on 2 "Hot Homes" I recently told you about.
Hot Home #1 - Agnes Ave., Studio City
Asking price: $2,395,000
Sold price: $2,450,000
Hot Home #2 - Tareco Dr., Lake Hollywood Knolls
Asking price: $1,500,000
Sold price: $1,650,000
Do you like the 80's/90's vibes?
Here is the most unique home for sale this week in Los Angeles.
Asking price: $3,500,000.
Located in The Bird Street Neighborhood above the Sunset Strip, this home has 2 bed/4 bath, 3,628 sq. ft. of living space, and is on a 6,581 sq. ft. lot.
Text me if you want a tour at 818-445-7953.
Here is the most expensive home to sell this week in Encino.
Asking price: $3,600,000
Sale price: $3,500,000
This new residence has 5 bed/7 baths, 5,474 sq. ft. of living space, and a 10,429 sq. ft. lot.
The home features a soaring 22’ entry, a chef’s kitchen w/ dual islands, breakfast nook, and Thermador appliances, a wet bar, plush home theater, and a sophisticated office.
Would you live that close to a freeway?
“Hot Home” alert in Sun Valley!
The asking price is $925,000.
This remodeled Glencrest Hills home has 3 bed/2 baths, 1,400 sq. ft. of living space and an 11,304 sq. ft. lot.
The home features a recessed LED lighting, plank flooring throughout, a covered patio in the backyard, and a 2 car attached garage that has ADU potential.
Text me if you want a tour at 818-445-7953.
