This is the cheapest home for sale this week in Highland Park.
Asking price: $399,000
Text me for a private tour at 818-445-7953.
LA home prices dropped second-most in nation in December
A new study has found that home prices in Los Angeles are on the decline year-over-year.
In December 2022, the median price of a home in Los Angeles was $810,000; down $40,000 or 4.7% from December 2021.
That was the second largest decline in the study for all US cities, behind only San Francisco which saw a 5.1% decrease.
Considering rising interest rates, inflation, major layoffs, and recession fears, a 4.7% decline is not that bad.
Source: RE/MAX
Rents rose by 8.35% in December, the highest increase in more than 40 years
Despite the sharp increase in December, recent housing data has indicated that rents have begun to fall: Realtor.com®, for example, reports that rents have dropped in many of the nation’s hottest real estate markets after rising more than 20% over the past three years.
Also, robust apartment construction likely will raise rental vacancy rates, which could help further ease rental prices in the months ahead.
Source: The National Association of REALTORS®
Reside in a historic building on the famous intersection Hollywood & Vine! Sign me up!
Here is the cheapest condo for sale in Hollywood.
Asking price: $899,000
This condo has 1 bed/1 bath and 1,380 sq. ft. of living space.
The historic Broadway Hollywood building, built in 1928 as a department store, was converted into 96 loft condominiums in the early 2000s.
The building features a 24 hr. doorman, valet parking, a rooftop pool, cabanas with a firepit, and a gym.
Text me if you want a private tour at 818-445-7953.
19% of LA homes in October were purchased with all cash.
Share of U.S. homes bought with all cash hits highest level since 2014. Roughly one-third (31.9%) of U.S. home purchases were paid for with all cash in October.
However, expensive West Coast metros dominate the list of places with the lowest share of all cash-purchases. They’re least common in the Bay Area: Just 14.3% of home purchases in San Jose and 16.5% in Oakland were made in cash. Next come Seattle (19%), Los Angeles (19.2%) and Newark, NJ (20%).
Source: Redfin analysis of county records
You can't find this off-market Encino condo anywhere else but here!
For the general location, in Google maps, put in "Burbank Blvd. and Ventura Blvd."
Text me for more info at 818-445-7953.
This condo has 2 bed/2 baths and 990 sq. ft. of living space.
The building amenities include a pool, spa, gym, and clubhouse.
Don't sleep on my latest off-market property in Sylmar! Available now!
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.
More buyers are actively searching for a home
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.
Find out how much Ryan Seacrest's Beverly Hills estate ended up selling for!
Ryan Seacrest finally sells his Beverly Hills home.
Original asking price: $85,000,000
Selling price: $51,000,000
The home was listed in November 2020 for $85M and when it didn't sell it was relisted for $69M.
This private, secluded estate has a total of 7 bed/10 bath, 9,000 sq. ft. of living space, and is on over 3 acres.
Looking for a fixer-upper?! Then check out my latest off-market property in South Pasadena!
Asking price $1,299,999
For the general location, in Google maps, put in "Huntington Dr. and Alhambra Rd."
This home has 2 bed/2 baths, 1,392 sq. ft. of living space, and over 6,616 sq. ft. for the lot.
Text me for more info at 818-445-7953.
Sharp turnaround in the housing market. Here's how one home seller is handling it!
Just met a woman a few days ago at a business event, and we immediately began talking about real estate. She mentioned she had put her home on the market a few weeks ago. During the first week on the market, she had little activity and no offers. Anyone following the real estate market knows it has been red hot, so this had come as a surprise to her. She said that higher interest rates, inflation, the stock market being down, and the crypto market crashing all played a big part in why her home was not getting the attention she was anticipating. Therefore, she dropped her asking price by $100,000. She eventually got a couple of offers and closed escrow on her property for lower than she had hoped for.
She kept saying how grateful she was for getting the selling price she got. I thought to myself she dropped her price $100K, how could she still be grateful? She said she was grateful because her home's value had increased 20% over the last 12 months. She said she didn't get the absolute peak of the market of 20% profits, but she got 15% profits. She was thrilled that her home's value went up 15%, was able to make some money, and move on to the next chapter of her life.
My new friend makes a very good point. Would you be happy if I told you that your home's value would go up 15% in one year? Of course you would! So forget about what you could have sold your home for last month and look at the huge profits you could still get today.
Enjoy these profits while you can, because by the looks of things, the housing market is in for a major shift.
I have an off-market condo for sale in WeHo! This penthouse has sweet views!
Off-market property in West Hollywood.
This Penthouse Condo has 2 bed/3 bath, over 1,500 sq. ft. of living space, and a huge rooftop deck.
There is an indoor/outdoor living experience with private outdoor spaces with panoramic views.
The building amenities include two side-by-side parking spaces, storage, and a community pool.
Text me for a private showing at 818-445-7953.
Here is another Valley Village off-market property available! This one has a pool!
Off-market property available in Valley Village.
This home has 4 bed/3 bath, over 2,000 sq. ft. of living space, and the lot is well over 7,000 sq. ft.
The home features an open floor plan, a large fireplace in the living room, recessed lighting throughout, lots of storage space, and solid mahogany wood floors.
The backyard has a covered patio, a swimming pool heated by solar panels, and the garage has great ADU potential.
Text me for a private showing at 818-445-7953.
Contact me ASAP about my current off-market property in Valley Village!
Off-market property in Valley Village.
This gated 2-story home has 6 bed/4 bath, 3,200 sq. ft. of living space, and is on a 6,674 sq. ft. lot.
The home features a built-in home sound system, stainless steel appliances in the kitchen, and a guest room and full-size bath on the 1st floor that can easily become an in-law suite.
The private backyard has a patio with a pergola and a flat yard with fruit trees.
Text me for a private showing at 818-445-7953.
My hottest off market property will keep you cool in the pool during the summer months!
Text me for more info at 818-445-7953.
Off-market property in Chatsworth. You won't find this info anywhere else.
This remodeled home has 4 bed/3 bath, 2,997 sq. ft. of living space, and is on a 10,237 sq. ft. lot.
The garage has been converted into a junior ADU with a separate entrance and its own address.
The backyard has a covered patio with an outdoor kitchen, built-in BBQ, pool, above-ground jacuzzi spa, dog run, outdoor half bathroom & owned solar panels.