L.A. real estate news and insights.
For the general location, in Google maps, put in "Vanowen St. and Woodley Ave."
Text me for more info at 818-445-7953.
This corner lot home has 3 bed/2 baths and 1,534 sq. ft. of living space and is on a 5,425 sq. ft. lot.
The home could potentially be divided into 2 units. The 2-car garage would also make a nice ADU.
This Queen Anne Victorian home has 7 bed/5 bath, 4,500 sq. ft. of living space, and is on a 21,716 sq. ft. lot.
This historic home was built in 1894 for the Burr Family.
Asking price: $1,900,000
Text me for more info at 818-445-7953.
Here is the cheapest home for sale this week in Valley Glen. Text me for more info at 818-445-7953.
Asking price: $839,000
This home has 3 bed/2 bath, 1,437 sq. ft. of living space, and is on a 5,500 sq. ft. lot.
This is the first time this property has been on the market in 60 years!
This fixer-upper features beamed ceilings, a family room, an enclosed sunroom, a laundry room, 2 car garage, and a private backyard.
If you own a home in Southern California, it’s probably increasing in value every single day. But how much? The New York Times analyzed the last decade of single-family home prices and found that homes in San Jose had a net daily value increase of $266, the highest of any metro area in the country.
Unsurprisingly, California cities took the top four spots on the list with San Francisco ranking second at $208, Anaheim ranking third at $146, and L.A. ranking fourth at $123.
This is the cheapest home sold this week in Burbank.
Asking price: $885,000
Selling price: $845,000
This home has 2 bed/1 bath, 1,120 sq. ft. of living space, and is on a 5,284 sq. ft. lot.
The updated home features a fenced-in front yard, an easy-flow floor plan, laminate flooring, and an additional enclosed living area off the kitchen.
Housing affordability in the third quarter improved slightly from the prior quarter as mortgage rates remained low while prices began to level off.
24% percent of California households could afford to purchase the $814,580 median-priced home in the third quarter of 2021, up from 23% in second-quarter 2021 but down from 28% in third-quarter 2020.
A minimum annual income of $148,400 was needed to qualify for the purchase of a median-priced home in the latest quarter in the state.
With interest rates expected to rise and the state median price projected to climb further in 2022, the housing affordability condition will likely get worse in the coming year.
Source: California Association of Realtors.
Text me if you want a tour at 818-445-7953.
“Hot Home” alert in Studio City.
Asking price: $1,999,000
Mid Century Modern home - 4 bed/3 bath, 2,247 sq. ft. of living space, on a 7,996 sq. ft. lot.
The home features endless views from the 2 decks on the main floor and the private decks off every bedroom.
There are also high-end security doors, a camera system with an alarm, and low maintenance garden outdoors.
Text me if you want a tour at 818-445-7953.
“Hot Home” alert in Lake Balboa.
Asking price: $1,075,000
The main house and ADU have a combined 5 bed/3 bath, 2,338 sq. ft. of living space, and is on a 6,517 sq. ft. lot.
The home features an open floor plan, a laundry area in the bonus room, and an ADU that is ready to bring in rental income.
A majority of house hunters say it’s not prices that are keeping them out of the housing market—it’s other buyers. 45% of prospective buyers recently surveyed say they keep getting outbid by other offers, according to a new survey from the National Association of Home Builders. The NAHB says this is only the third time in the survey’s history that the top reason prospective buyers have been unsuccessful has not been due to finding a home at an affordable price.
In the third quarter, 66% of active home buyers say they’ve spent three months or more searching for a home without success.
Source: National Association of Home Builders’ Eye on Housing blog
Only 58.9% of home offers faced competition in September, the lowest level for 2021 so far, according to a market index produced by Redfin based on offers written by its agents. That’s down from a peak of 74.3% in April. September also marked the fifth consecutive month of declines in bidding wars.
Still, homes are selling quickly: 86% of homes sold in September were on the market for less than a month, according to the National Association of REALTORS® latest housing report. About 33% of homes that went under contract had an accepted offer within just one week of being listed on the market.
45% of homes sold at or above list price, up from 22% in 2019.
Here's an update on 2 "Hot Homes" from earlier this year.
Hot Home #1: Hermosa Dr., San Gabriel
Asking price: $1,495,000
Sold price: $1,660,000
Hot Home #2: Rossmore Ave., Los Angeles
Asking price: $12,375,000
Sold price: $10,000,000
Joe Jonas and Sophie Turner sell their Encino Mansion.
The sale was the priciest of 2021 in the San Fernando Valley and the second-most expensive of all time in the area.
Asking price: $16,750,000
Selling price: $15,200,000
This home has 9 bed/11 bath, 12,988 sq. ft. of living space, and is on a 38,343 sq. ft. lot.
The home features a spa, gym, extensive surround sound system, theater, and security system.
Alongside the main home is a lap pool with spa, 2 bedroom guest house, 4 car garage, custom wine cellar, and private balconies.
Actress Jane Levy just bought this 113-year-old home in the La Brea Terrace Community.
Asking price: $3,199,000
Selling price: $3,230,000
This California Craftsman home has 3 bed/3 bath, 2,343 sq. ft. of living space, and is on a 14,607 sq. ft. lot.
The home features a main house that has 2bed/2bath and there is a vaulted post and beam 1bed/1bath guest house.
Did she get a good deal?
Between Sept. 12 and Oct. 17, the majority of housing markets nationwide will reach their “sweet spot” with a higher number of homes for sale, lower prices, and less buyer competition compared with the average week of the year, according to realtor.com®’s Best Time to Buy Report.
For Los Angeles, the report found Sept. 12 - Sept. 18 to be the best time of year.
Overall, house hunters who purchase a home between Sept. 12 and Oct. 17 will see, on average, 31% more listings than a more typical week of the year. They'll have more than 100,000 new listings to choose from nationwide, realtor.com® said. They are also likely to face less competition. They also could see prices recede somewhat, by as much as $10,000 below their seasonal highs.
“Home prices peaked in the summer, and new listings continue to come on the market helping slow the pace of sales—which is good news for home buyers,” said Danielle Hale, realtor.com®’s chief economist. “As families across the country focus on getting back into school routines, there are fewer buyers in the market, creating a great opportunity especially for first-time home buyers to make a purchase with somewhat less competition.”
The data might be true as I was able to open up another escrow for one of my clients this week!
Don't worry, I got a guy that can change the court to Laker purple and gold for you.
“Hot Home” alert in Toluca Woods.
Asking price: $2,300,000
This 2 story home has 4 bed/4.5 bath. 3,587 sq. ft. of living space and is on an 8,101 sq. ft. lot.
Text me if you want a tour at 818-445-7953.
