L.A. real estate news and insights.
Here is the cheapest home sold this week in Sun Valley.
Asking price: $599,000
Selling price: $550,000
This small cottage has 1 bed/1 bath, 513 sq. ft. of living space, and is on a 9,401 sq. ft. lot.
The property has a large lot with fruit trees and is zoned for horses.
Here is the cheapest home sold this week in Sunland.
Asking price: $785,000
Selling price: $830,000
This home has 2 bed/2 bath, 1,084 sq. ft. of living space, and is on a 9,316 sq. ft. lot.
The property includes the 8,495 sq. ft. lot next door. It has its own parcel number.
Here is the best fixer for sale this week in Reseda.
Asking price: $699,900
This home has 3 bed/2 bath, 1,151 sq. ft. of living space, and is on a 10,851 sq. ft. lot.
The single-story home is at the end of a cul-de-sac and is on an oversized lot—plenty of room to expand.
Text me if you want a tour at 818-445-7953.
Here is the best fixer-upper property for sale this week in Woodland Hills.
Asking price: $750,000
This home has 3 bed/3 bath, 1,845 sq. ft. of living space, and is on a 7,500 sq. ft. lot.
They are looking for an ALL CASH BUYER!
The home has an open floor plan, a carport for 2 cars, and a swimming pool in the backyard.
Text me if you want a tour at 818-445-7953.
Housing costs are one of the top three categories causing inflation in the U.S. to surge, the U.S. Department of Labor announced Thursday. The largest items in households’ budgets—shelter, gasoline, and food—were the main culprits in February that fueled the highest inflation rates since 1982.
The Consumer Price Index, which measures price fluctuations in goods and services, increased 7.9% in February compared to a year earlier.
“There’s nowhere to hide,” Greg McBride, chief financial analyst for Bankrate, told CNBC. “This is hitting everybody … [with inflation] most pronounced on items that are necessities.”
Household grocery bills increased 8.6% over the last year; that is the fastest pace since 1981. Gasoline prices are up 38% compared to a year ago, although that statistic does not reflect the latest increases at the pump following Russia’s invasion of Ukraine.
Shelter costs such as rents are up 4.7% compared to last year. That is the highest since May 1991. “That comparatively benign increase … is likely to put the biggest squeeze on household budgets for the remainder of the year,” McBride told CNBC. Housing comprises more than a third of households’ average budgets.
Also, mortgage rates rose this week in response to higher inflation, averaging 3.85%, Freddie Mac reports.
“While it’s too soon to know how the war in Ukraine will affect the U.S. economy, it seems that it will continue to put upward pressure on inflation,” Nadia Evanelou, senior economist and director of forecasting at the National Association of REALTORS®, writes on the association’s blog.
In an attempt to try to tame inflation, the Federal Reserve is expected to start raising its short-term interest rates next week.
Source: “There Is ‘Nowhere to Hide’ for Consumers as Inflation Hits Food, Gas, Housing,” CNBC (March 10, 2022) and “Instant Reaction: Mortgage Rates, March 10, 2022,” National Association of REALTORS® Economists’ Outlook blog
Here is the cheapest home sold this week in Valley Village.
Asking price: $990,000
Selling price: $1,630,000
This Ranch Style home has 2 bed/2 bath, 1,345 sq. ft. of living space, and is on a 10,124 sq. ft. lot.
The home sold for $640K over the asking price. ALL CASH!
The well-lived home definitely needs to be restored and expanded.
Here's an update on 2 "Hot Homes" I recently told you about.
Hot Home #1: Vestal Ave., Los Angeles
Asking price: $2,349,000
Sold price: $2,400,000
Hot Home #2: Acorn St., Chatsworth
Asking price: $1,399,000
Sold price: $1,500,000
CLICK HERE to see my episode of "House Hunters Renovation"!
“Hot Home” alert in Sierra Madre.
Asking price: $1,198,000
This fixer-upper has 3 bed/2 bath, 1,794 sq. ft. of living space, and is on a 10,439 sq. ft. lot.
The home features original hardwood floors, a stone fireplace, laundry room, attached garage, stone driveway, solar panels, and central AC.
The backyard has a covered patio, wood decking, and a fenced-off pool.
Text me if you want a tour at 818-445-7953.
Asking price: $1,555,000.
Imagine what you could add on to this 17,000 square foot lot...
