L.A. real estate news and insights.
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.
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.
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.
Remodel it or tear it down and build a new home?
Here is the cheapest home sold this week in the city of San Fernando.
Asking price: $679,000
Selling price: $650,000
6 bed/3 bath, 2,155 sq. ft. of living space, and is on an 8,142 sq. ft. lot.
The report from Consumer Affairs analyzed 2021 data from the U.S. Census Bureau against two metrics - median monthly housing costs and median owner-occupied unit values - to determine which U.S. cities are the most expensive. To the surprise of no one, California cities dominated the list, ranking four out of the top five spots.
Below shows the top 5 most expensive cities in the US, along with their median monthly housing costs (such as utilities, insurance, and rent or mortgage payment):
1) San Jose: $2,463
2) San Francisco: $2,337
3) San Diego: $2,044
4) Seattle: $1,984
5) Los Angeles: $1,845
Los Angeles comes in under Seattle in terms of median home values ($812,800) and median monthly housing costs ($1,845). However, because Los Angeles residents have a median household income almost $40,000 lower than Seattle's, it has the highest monthly housing costs relative to income of any city in the list's top 10.
If you're looking for the least expensive city for housing costs, head over to Detroit, Michigan. According to the report, residents' median monthly housing costs here are $755.
This home has been on the market longer than any other home in Valley Village.
Original asking price: $6,498,000
Current asking price: $6,998,000
The gated 2-story home has 7 bed/5 bath, 7,500 sq. ft. of living space, and is on a 24,628 sq. ft. lot.
Maybe we can convince them to drop the price! Text me if you want a tour at 818-445-7953.
Would you be willing to live on a busy street to get a remodeled home?
Here is the cheapest home sold this week in North Hollywood.
Asking price: $775,000
Selling price: $750,000
The home and ADU have a total of 3 beds/3 baths, 1,406 sq. ft. of living space, and is on a 5,087 sq. ft. lot.
This updated home features stainless steel appliances in the kitchen, a stackable washer/ dryer and there is a big deck in the backyard.
“Hot Home” alert in Burbank.
Asking Price: $849,900.
This starter home has 2 beds 1 bath, 1,100 sq. ft. of living space, and is on a 6,535 sq. ft. lot.
The home features a large front porch, wood floors throughout, a fireplace in the living room, and a remodeled kitchen w/ sunny eating area.
The backyard has a custom pergola, fruit trees, and drought-resistant plants and trees. There is a detached 2-car garage that has ADU potential.
Text me if you want a tour at 818-445-7953.
Forbearance programs allow homeowners to pause or lower mortgage payments for a limited time but required them to formulate a plan for repaying the deferred amount with their lender.
The federal government imposed a pandemic-related moratorium on mortgage foreclosures on federally backed mortgages.
That moratorium will end on June 30, 2021.
Some have feared that the end of these protections will trigger a rash of home foreclosures.
Who would let their property get foreclosed on after home values just went up 19% in the last year?
If you can't pay your mortgage, sell your home and take the profits from the sale.
As forbearance and moratoriums end, some foreclosures are inevitable.
However, don't expect this big wave of foreclosures to crash the real estate market.
The Los Angeles housing market has been so strong that the 5,531 contracts signed in May were a slight drop-off from the previous two months.
There were 4,023 single-family homes that went into contract countywide last month and 1,508 condos. Source: appraisal firm Miller Samuel
Is this too expensive for Arleta?
Here is the cheapest townhouse sold this week in Arleta.
Asking price: $399,000
Selling price: $405,000
This townhome has 3 beds/1.5 baths and 1,145 sq. ft. of living space.
This gated community features a breakfast bar in the kitchen that overlooks the living room, a gas fireplace, a private patio, and lots of storage throughout.
There is an attached 2 car garage with laundry hookups and a community pool.
“Hot Home” alert in Glendale.🐴
Asking Price: $3,995,000.
This California ranch compound in Glendale's Riverside Rancho equestrian district has 3 beds/4 baths, 3,965 sq. ft. of living space, and is on 1.5 acres.
The property features covered horse stables, a barn, and a horse pen.
The backyard has a pool, spa, and privacy hedges.
Next to the home is a guest house with a kitchen, bed, and bath suite, and living space with an extra 3/4 bath.
The home is backed by the LA Equestrian Center and has direct access to Griffith Park and 55 miles of riding trails.
Text me if you want a tour at 818-445-7953.
Zac Efron sells Los Feliz pad.
Asking Price: $5,900,000
Selling price: $5,300,000
This Contemporary Compound has 5 beds/6 baths, 5,644 sq. ft. of living space, and is on a 35,166 sq. ft. lot.
The home features a long gated driveway that opens to views of downtown and the ocean.
The home has an open floor plan with floor-to-ceiling glass windows and doors that allow for an indoor/outdoor feel along with decks that run along the length of the property.
Outback there is a newly redone pool with spa/waterfall and a separate 1 bed/1 bath guest house.
Would you leave LA and move to Australia?
