L.A. real estate news and insights.
If you own a home in Southern California, it’s probably increasing in value every single day. But how much? The New York Times analyzed the last decade of single-family home prices and found that homes in San Jose had a net daily value increase of $266, the highest of any metro area in the country.
Unsurprisingly, California cities took the top four spots on the list with San Francisco ranking second at $208, Anaheim ranking third at $146, and L.A. ranking fourth at $123.
This is Burbank's most expensive home sold this week. Classic storybook home in the Burbank Hills.
It's a corner lot, so a big part of the lot is on the front/side yards, leaving little room in the backyard.
•4 bedrooms
•3 bathrooms
•2,399 sq. ft. of living space
•6,167 sq. ft. lot
•Remodeled chef's kitchen
•Finished attic room
Asking price: $1,399,000
Selling Price: $1,385,000
This is the most expensive home sold this week in Winnetka.
•4 bedrooms
•3 bathrooms
•2,111 sq. ft. of living space
•5,903 sq. ft. lot
•Converted garage into a large bonus room
•Pool, custom covered BBQ, separate cooktop, sink, & TV
Asking price: $799,950
Selling Price: $840,000
This is definitely the most unique home to hit the market this week in Shadow Hills.
•4 bedrooms
•3 bathrooms
•2,882 sq. ft. of living space
•31,244 sq. ft. lot
•10 car covered garage with car lift, storage, and workshop
•Apartment treehouse and separate guest house
Asking price: $1,495,000
Interested? Text me if you want a tour at 818-445-7953.
Burbank's latest "Hot Home" is located in the Magnolia Park neighborhood.
•3 bedrooms
•3 bathrooms
•1,603 sq. ft. of living space
•7,297 sq. ft. lot
•Pool
•Guest house & a detached 2 car garage
Asking price: $949,999
Text me if you want a tour at 818-445-7953.
Here is Lakeview Terrace's latest "Hot Home"!
•4 bedrooms
•3 bathrooms
•1,600 sq. ft. of living space
•5,623 sq. ft. lot
•Open floor plan
•Stainless steel appliances in the kitchen
•Converted garage
Asking price $699,999.
Interested? Text me if you want a tour at 818-445-7953.
It's a good area, but this home jumps out at me as being pretty expensive.
Here is this week's most expensive price per square foot home sold in Burbank.
•2 bedrooms
•1 bathroom
•980 sq. ft. of living space
•5,762 sq. ft. lot
The home is located in the Magnolia Park neighborhood close to Chandler Bike Path, Portos, vintage shops, and eateries on Magnolia Blvd.
Asking price: 849,000
Selling price: $850,000
Price per sq. ft. $867.35
Iconic "FAST TIMES AT RIDGEMONT HIGH" house for sale for the first time in 20 years!
•3 bedrooms
•2 bathrooms
•1,250 sq. ft. of living space
•7,956 sq. ft. lot
•Private backyard featuring the famous swimming pool!
Asking price $739,999.
Text me if you want a tour at 818-445-7953.
One of my Instagram followers wanted to know what the cheapest home in LA currently is... it's this hot mess!
•1 bedroom
•1 bathroom
•716 sq. ft. of living space
•2,771 sq. ft. lot
•Built in 1912
The asking price $275,000.
Text me for more details 818-445-7953.
This property is located on a cul-de-sac in the Tesoro Del Valle Neighborhood.
•5 bedrooms
•4 bathrooms
•3,389 sq. ft. of living space
•6,241 sq. ft. lot
•2 car garage
HOA amenities include – tennis courts, 2 pools, a jacuzzi, gym, baseball field, and maintenance of the lake.
Asking price: $750,000
Selling price: $770,000
Price per sq. ft. - $227.21
"Wonder Woman" Screenwriter Dave Callaham just bought this Altadena home for $3,650,000... about $150K above asking price.
•4 bedrooms
•4bathrooms
•5,508 sq. ft. of living space
•20,222 sq. ft. lot
The property features a chef’s kitchen w/ eat-in area, gym, movie theater, and swimming pool.
Toluca Lake Waterfront home with a Burbank address!
Do a complete remodel on this home and you will have a property that you can pass down from generation to generation.
•4 bedrooms
•5 bathrooms
•3,294 sq. ft. of living space
•16,312 sq. ft. lot
The home has its own dock, boathouse w/ wet bar, pool, outdoor brick fireplace, shower, and dressing room.
Asking price $4,995,000.
Text me if you want a tour at 818-445-7953.
Strong existing-home sales and record-high pending home sales in August indicate no homebuying slowdown in fall, NAR Chief Economist Lawrence Yun says in his latest monthly report.
The striking market turnaround since the early days of the coronavirus pandemic has brought a resurgence in bidding wars and proved housing’s resilience in an unusual and volatile year, Yun adds.
But a mix of surging buyer demand and low inventory puts the industry in uncharted territory.
The national median home price has soared to an all-time high of $300,000, threatening to “choke off” first-time buyers from the market and depress the national homeownership rate, Yun says.
More homebuilding is necessary to relieve some of the market pressures.
New-home sales hit more than a million year to date in September, an encouraging sign.
However, lumber shortages are pushing up new-home prices an average of $14,000 since April.
Forty-four percent of respondents to a Sears Home Services survey of 1,000 people said they are less satisfied with their home since the beginning of the pandemic.
“There’s a sense of feeling ‘trapped’ when it’s required to remain inside; we’re missing the venues we used to frequent and perhaps noticing flaws of the home while spending more time there,” the survey notes.
Households with children all living in smaller spaces are more likely to be linked to owners’ dissatisfaction.
Homeowners with children were 10 percentage points more likely to say they felt less satisfied with their home than those without.
Also, homeowners with only one or two bedrooms were more likely to report being unsatisfied with their homes.
The growing dissatisfaction among homeowners after being hunkered down may be a big factor behind the surging housing market.
Contract signings on homes surged to a record high in August and are now 24% higher than a year ago, the National Association of REALTORS® reported Wednesday.
Survey respondents said the four top features they most want to add to their homes are a home gym (41%), home office (37%), gaming space (32%), and kitchen space (31%).
Source: “Making a House a Home in the Time of COVID-19,” Sears Home Services (September 2020).
Pending home sales are exceeding pre-pandemic levels and defying forecasts.
August marked the fourth consecutive month of escalating sales contract activity.
NAR’s Pending Home Sales Index—a forward-looking indicator based on contract signings—increased 8.8% in August to a record high of 132.8. (An index reading of 100 is equal to the level of contract activity in 2001.)
Contract signings are now 24.2% higher than a year ago.
Source: National Association of Realtors
