L.A. real estate news and insights.
Do you think San Fernando Valley home prices have peaked?
Great news for homeowners, but tough news for those looking to buy: The median home price in the San Fernando Valley topped $955,000 in June.
The surge in prices is nearly 30% higher compared to last year.
It's also the fourth straight month that prices have been above $900,000.
Source: ABC 7 Eyewitness News
Sold for $200K over the asking price.
This is the cheapest home sold this week in Canoga Park.
Asking price: $674,999
Selling price: $875,000
This fixer-upper home has 4 bed/2 bath, 1,349 sq. ft. of living space, and is on a 12,104 sq. ft. lot.
The home features floor-to-ceiling raised hearth brick fireplace, original hardwood floors, and a huge sunroom w/ new wall-to-wall carpet.
Would you pay $200K over the asking price on a home?
The rate of home price growth has started to slow, and the competition for homes may be showing some signs of easing somewhat.
“The market’s topping out,” Mark Zandi, chief economist at Moody’s Analytics, told realtor.com®. It’s “starting to show cracks. It feels like we’ve hit the apex, and we’re moving to the other side of it.”
But that doesn’t mean the housing market is heading for a bubble that is bound to burst. Mortgage lending has remained tight. Real estate economists have long said the current frenzy in the housing market is no housing bubble that is reminiscent of nearly a decade ago with the run-up in real estate.
Economists are generally predicting an overall slowdown in prices and more moderation rather than any major downfall.
You won't find this off-market home anywhere else!
Located in Beverly Hills 90210, this multi-level home designed by architect Thom Mayne has 4 bed/5 bath, 4,043 sq. ft. of living space, and is on a 7,059 sq. ft. lot.
The home features floor-to-ceiling windows, exposed beams, and metal railings.
There is a grand living room with a fireplace, bar area, and separate office space.
The kitchen has Stainless steel appliances and a center island.
The master suite has a walk-in closet and bathroom with double sinks, a walk-in shower, spa tub.
The outdoor spaces are great for lounging and having a summer BBQ.
Text me if you want a tour at 818-445-7953.
To win a bidding war, more buyers are waiving appraisal and inspection contingencies, according to the latest REALTORS® Confidence Index survey.
Here is the full list of contingencies buyers are removing:
Appraisal contingency (28%)
Inspection contingency (25%)
No contingency was waived (22%)
Financial contingency (11%)
Home sale contingency (9%)
Title contingency (2%)
Other (2%)
Would you waive your contingencies when submitting an offer on a home?
Source: Survey of more than 3,300 REALTORS®.
