L.A. real estate news and insights.
Kylie Jenner & Travis Scott re-list their Beverly Hills Estate for a cheaper price.
New asking price: $17,995,000
Original asking price: $21,900,000
This hillside estate has 6 bed/9 bath, 9,680 sq. ft. of living space, and is on 1.1 acres.
Text me for more info at 818-445-7953.
This is the cheapest home for sale this week in Burbank!
This home has 2 bed/1 bath, 1,100 sq. ft. of living space, and is on an 8,000 sq. ft. lot.
Asking price: $749,900
This Burbank modern farmhouse has a total of 4 bed/3 bath, 2,485 sq. ft. of living space, and is on a 6,599 sq. ft. lot.
There is a detached 1 bed/ 1 bath ADU, a large grass area, and a patio in the backyard.
Asking price: $1,949,000
Text me if you want a tour: 818-445-7953.
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.
This is the best "Fixer Upper" for sale this week in Van Nuys.
Asking price: $824,998
This custom-built farmhouse has 2 bed/3 bath, 2,066 sq. ft. of living space, and is on a 4,048 sq. ft. lot.
Text me for more info at 818-445-7953.
Here is the most expensive home for sale this week in Los Feliz.
Asking price: $9,885,000
This grand art nouveau mansion has 4 bed/4 bath, 5,582 sq. ft. of living space, and is on a 75,596 sq. ft. lot.
The home features a 2 story living room, octagonal lounge/study rooms, a stone staircase, an observation tower, and a large roof terrace.
Outdoors include gardens, a basketball court, a guest apartment, and a large 2nd flat lot.
Text me for more info at 818-445-7953.
For the general location, in Google maps, put in "Almetz St. and Fenton Ave."
Text me for more info at 818-445-7953.
This home has 3 bed/3 baths and 2,050 sq. ft. of living space.
The 2-story home features an open floor plan, a breakfast bar in the kitchen, a loft at the top of the stairs, and a primary ensuite with high vaulted ceilings.
The HOA covers the water utility, front yard, gardening basketball court, and visitor parking area.
Despite higher interest rates negatively impacting housing affordability and demand for homes, not all buyers have been sidelined.
According to the latest Housing Trends report by the National Association of Home Builders (NAHB), in Q3 2022 59% of prospective buyers had moved beyond the planning phase and had become fully engaged in the buying process. This was up from 46% in Q1 2022 and 49% in Q2 2022.
The share of prospective buyers actively searching for a home rose in every region between the second and third quarter of 2022, with the West having the largest share at 68%.
Less competition and more inventory were the driving force for the share increase in the recent quarter.
Would you buy a home built in the 1800s?
Asking price: $750,000
This home has 3 bed/2 bath, 1,190 sq. ft. of living space, and is on a 5,575 sq. ft. lot.
The property has a huge backyard and there is a detached structure with 1 bedroom and living room.
Text me for more info at 818-445-7953.
Good thing there is 24-hour security.
Here is the cheapest condo sold this week in DTLA.
Asking price: $425,000
Selling price: $405,000
This condo has 1 bed/1 bath and 670 sq. ft. of living space.
Building amenities include a rooftop pool, a fitness center, and a convenient local market in the complex.
This is the most unique home for sale in Burbank.
Asking price: $6,495,000
This custom-built Victorian Tutor home has 4 bed/5 bath, 5,317 sq. ft. of living space, and is on a 31,991 sq. ft. lot.
The "Burbank Castle" features vaulted ceilings, a private wrap-around balcony, Venetian plaster walls, and unobstructed panoramic city and mountain views.
Outdoor amenities include a saltwater pool w/ bridge, spa, an outdoor kitchen & 4 car garage.
Text me for more info at 818-445-7953.
According to the results of a survey from Consumer Affairs, if you call one of these five cities home, you might want to prepare for your home’s value to take a tumble in the year ahead.
1) Austin, Texas
2) Atlanta
3) Bakersfield, California
4) Los Angeles
5) Albuquerque, New Mexico
Coming in at number four, 23% of those polled believe Los Angeles is the city most likely to see housing prices drop.
As of October, the median listing home price in Los Angeles was $999,000 at $649 per square foot, up 5.2% year-over-year. The median home sold price was $915,000, with homes selling after a median 62 days on the market.
Prices have decreased slightly since July, down from a median listing price of $1 million at $654 per square foot. But the drops can especially be seen in the median sale prices in L.A. — down from $948,000 in the summer. And homes are lingering on the market for nearly two weeks longer, compared to 49 days in July.
If prices drop as much as 15% from the summer’s numbers, that would lower the median listing price to $850,000 — a decrease of $150,000.
Text me if you want to lowball them: 818-445-7953.
Here is the longest active home on the market in Arcadia - 467 days!
Original Asking price: 6,380,000
Current Asking price: 5,680,000
This home has 6 bed/6 bath, 7,693 sq. ft. of living space, & is on a 43,785 sq. ft. lot.
The Ranch-Style home features a huge family room, library, playroom, and dance studio/exercise room.
Outside, there is a basketball court, a swimming pool with a waterfall into the spa, a fishpond, and an entertainment/BBQ area.
Is not having a backyard a deal breaker?
Here is the most expensive home for sale this week in the Burbank hills.
Asking price: $1,599,000
This home has 4 bed/3 bath, 2,980 sq. ft. of living space, and is on a 7,758 sq. ft. lot.
The home is on a private road and features an open floor plan, a wood-topped bar, a gourmet kitchen, a large balcony, and a patio area.
The property is close to hiking trails, golf courses, and the famous Castaway Restaurant.
Text me for more info at 818-445-7953.
