Core Logic has reported that median monthly mortgage payments in Los Angeles have increased 40 percent from 2021 to 2022.
Real estate experts blame this on the high prices of homes and mortgage rates for this occurrence according to CBSNews.com.
Drop Everything! ONLY 1 off-market showing for this $19M Brentwood Park property!
There will only be 1 off-market showing for this Brentwood Park property - August 15th.
The home will officially hit the market in September.
Text me for more info 818-445-7953.
Fall in love with this unique, historic Hollywood home. Put in an offer now!
This beautiful, historic 1920's townhouse is selling for $899,998.
The "El Cabrillo" condominium complex is one of six remaining Spanish revival courtyard buildings.
The courtyard has been featured in both television and movies.
This 1 bedroom, 1 bath townhouse is in the heart of Hollywood.
It is within walking distance of the Hollywood Bowl, several theaters, restaurants, clubs, and more.
Burbank had 26 property sales for the month of May
There were 63 property sales in Burbank for May 2019.
LA county home sale transactions are down, prices are up
In Los Angeles County, the median home price rose 3.8% to $630,000, while sales dropped 35.2%.
I suspect transactions are down because a good chunk of sellers took their properties off the market.
Fewer homes on the market obviously mean fewer homes can be sold.
The homeowners that did keep their home on the market are not experiencing price drops... it's actually the opposite.
Home prices continued to see marginal gains from a year earlier.
If you are waiting for a market crash, don't hold your breath.
The Ask Daniel Los Angeles Show Podcast
Buying or selling a home can be an overwhelming, complex operation.
The #AskDanielLosAngeles Show was created to answer your real estate questions in the hopes that it would give you a better understanding of the process of buying and selling a property.
To find this podcast, type “The Ask Daniel Los Angeles Show” in the search bar where ever you listen to podcasts.
You can also find the podcast on my website at ContempoRealtors.com/Podcast.
New podcasts released weekly on Thursdays.
Have a real estate question? Ask me on my podcast webpage and I will respond to you directly.
I may also answer it on the show!
We have over 20,000 followers on Instagram... come join us! Thank you for your continued support.
Most expensive new listing in Burbank
Asking price for this Burbank home is $2,250,000.
The home features 5 bedrooms 4 baths and a recording studio.
The barn features 3 stalls, feed and tack room, 2 turnouts and a bathing area.
Text me if you want to see it - 818-445-7953
Pharrell Williams home for sale at $17 MM
#PharrellWilliams has put his #BeverlyHills mansion on the market for $17,000,000.
The home is 17,000 sq ft and sits on an impressive 4-acre lot.
This giant home has 10 bedrooms and 11 bathrooms.
Outside there are gardens, koi ponds, and a resort-like pool with waterfall and grotto.
Multiple sport courts, rock sculptures, and also a 30+ car motor court.
Let me know if you want to buy it.
Housing inventory has gone down 21.8% in LA
Over the last 12 months, housing inventory has gone down 21.8% in the Los Angeles area.
That means there are a lot fewer homes for sale now then there was a year ago.
I expect this trend to continue because low-interest rates will cause there to be an even stronger than usual buyer demand this #Spring.
P.M.I.
It's not the end of the world if you have to get P.M.I., but it should be avoided if possible.
If you can put at least 20% down when buying a home.
By doing so the lender won't require you to get P.M.I.
P.M.I. = Waste Of Money
P.M.I. stands for Private Mortgage Insurance.
Typically when buying a home, you have to pay P.M.I. if you put less than 20% for your down payment.
PMI protects the lender, not you if you stop making payments on your loan.
Think about that... the insurance is to protect them, but you have to pay for it!
Depending on your loan amount, it can cost you $200, $300, $400, on top of your mortgage payment.
You should avoid this if possible
Put at least 20% down and you will avoid paying P.M.I.
Tonight, I need you to be my spy
At tonight's New Year’s Eve party, while you are with your friends and family, I need you to do a little spying for me.
Someone at the party is going to bring up the topic of real estate.
They are going to say that they are thinking about selling their home in 2020.
I know you will be drinking a lot... but try to remember the person who said that.
Then, text me and say "Daniel, I have a friend looking to sell". I'll take it from there. 😉
My goal for 2020 is to help as many people as possible sell their property.
To do that, I really need your help investigating and letting me know which of your friends and family members are thinking about selling.
Thank you for all your help in 2019 and thank you in advance for all your upcoming help in the new year!
Happy New Year!!!
