L.A. real estate news and insights.
This home has been on the market longer than any other home in Valley Village.
Original asking price: $6,498,000
Current asking price: $6,998,000
The gated 2-story home has 7 bed/5 bath, 7,500 sq. ft. of living space, and is on a 24,628 sq. ft. lot.
Maybe we can convince them to drop the price! Text me if you want a tour at 818-445-7953.
For the general location, in Google maps, put in "Golden Valley Rd. and Oak Crest Dr."
This home has 3 bed/3 bath, over 2,500 sq. ft. of living space, and a 7,500 sq. ft. lot.
The home features, high ceilings, lots of natural light, a massive kitchen island, and the den can be converted into a 4th bedroom.
Text me for more info at 818-445-7953.
For the general location, in Google maps, put in "Golden Valley Rd. and Plum Canyon Rd."
This 2-story home has 5 bed/3 bath, over 2,300 sq. ft. of living space, and is on a 5,640 sq. ft. lot.
The home features an open concept floor plan, a large kitchen island with bar seating, a loft space at the top of the stairs, and a spacious ensuite primary bedroom.
The landscaped backyard has a covered patio, and the solar panels are paid off.
Text me for more info at 818-445-7953.
Text me for more info at 818-445-7953.
For the general location, in Google maps, put in "Burbank Blvd. and Woodman Ave."
The property comes with fully approved RTI permits to build a new single-family home.
The existing home has 3 bed/2 bath, 1,500 sq. ft. of living space, and is on an 8,200 sq. ft. lot.
There is room for a backyard pool and an ADU.
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.
This is the cheapest home sold this week in North Hollywood.
Asking price: $699,000
Selling price: $775,000
This corner lot starter home has 2 bed/1 bath, 810 sq. ft. of living space, and is on a 6,416 sq. ft. lot.
The home features central air/heat, double pane windows, a recently remodeled bathroom, and a 2 car garage that has great ADU potential.
Here is the most expensive home sold this week in Burbank.
Asking price: $2,269,000
Selling price: $2,150,000
This custom-built Craftsman has 4 bed/5 bath, 3,581 sq. ft. of living space, and is on a 7,020 sq. ft. lot.
The completely rebuilt home features a finished basement, an eat-in kitchen with a custom island, a formal dining room, and the living room has a fireplace and wet bar.
The private backyard has a patio, and a recently renovated BBQ area featuring a high-end grill and brick oven.
Despite rising interest rates, buyer demand has yet to downshift in California. Home sales likely rose in March from February’s pace and several indicators showed a market that was even more competitive that it was in February with 71% of homes selling above asking prices and the typical home going from list to pending is just 8 days. In addition, the latest survey of REALTORS® suggests that few agents are experiencing buyers putting their search on hold or backing out of existing deals. Many would-be home buyers may be feeling a sense of urgency to complete their purchase before rates rise further, which is keeping the market tight so far.
Source: California Association of Realtors
Here is the cheapest home sold this week in Toluca Woods.
Asking price: $1,599,000
Selling price: $1,830,000
This fixer-upper home has 3 bed/1 bath, 2,210 sq. ft. of living space, and is on a 12,424 sq. ft. lot.
First time on the market in 46 years! Sold for $231K over the asking price – All cash!
With mortgage rates now nearing 5%, many aspiring home buyers may have reached the top of what they can afford, especially as 40-year-high inflation affects the threshold for them.
As a result, the number of sellers dropping their asking price is growing at a faster clip than in the recent past. About 12% of homes for sale had a price drop during the four weeks ending April 3. That marks a jump from 9% a year ago.
Home prices are well above levels from a year ago. The average borrower is paying about 40% more than they would have for the same home a year ago on a monthly payment due to higher mortgage rates and higher home prices, according to the National Association of REALTORS®.
More consumers believe that mortgage rates and home prices will rise further, according to a monthly consumer sentiment index from Fannie Mae. “If consumer pessimism toward homebuying conditions continues, and the recent mortgage rate increases are sustained, then we expect to see an even greater cooling of the housing market than previously forecast,” Mark Palim, vice president and deputy chief economist at Fannie Mae, wrote about the consumer sentiment index’s findings.
However, some buyers may see an opening in the market. They may want to rush ahead of further mortgage rate increases or may see an uptick in new listings.
Source: “Rising Mortgage Rates Are Causing More Home Sellers to Lower Their Asking Prices,” CNBC (April 7, 2022)
Do you think they should reduce the price?
Here is the longest active home on the market in Chatsworth.
The asking price is $15,000,000. The property has been on the market for 260 days with no price reductions.
This Trophy Compound in the foothills of the Santa Susana Mountains has 7 bed/11 bath, 11,755 sq. ft. of living space, and is on almost 16 acres.
"The Ranch" features a main residence, 3 guest bungalows, an art gallery, and a ballroom.
Text me if you want a tour at 818-445-7953.
This is the cheapest home sold this week in Pasadena.
Asking price: $649,000
Selling price: $861,000
This bungalow starter home has 2 bed/1 bath, 903 sq. ft. of living space, and is on a 5,195 sq. ft. lot.
The home features a brick fireplace in the living room, hardwood floors throughout, and LG appliances in the kitchen.
In the oversized fenced backyard, there is a covered patio, fruit trees, and a parking area.
Is this home worth the selling price?
Super Bowl Halftime performer, The Weekend, is having a rough time selling his home at $21,995,000.
This property consists of the main house and 2-story guest home totaling 9 bed/11 baths, 12,547 sq. ft. of living space, and a 128,089 sq. ft. lot.
Text me if you want a tour at 818-445-7953.
New off-market property in Sherman Oaks!
Not available to the public.
This newly constructed home features a main house with 3 bed / 3.5 baths and an ADU with 1 bed / 1.5 baths.
Total of 3,057 sq. ft. of living space on a 6,754 sq. ft. lot.
The home features an open floor plan, large kitchen w/ island, stainless steel appliances, high ceilings, recessed lighting, hardwood floors, a large master suite w/ walk-in closet, and ensuite bathroom w/ steam shower & a tub.
Text me if you want a tour at 818-445-7953.
One of my Instagram followers wanted to know what the cheapest home in LA currently is... it's this hot mess!
•1 bedroom
•1 bathroom
•716 sq. ft. of living space
•2,771 sq. ft. lot
•Built in 1912
The asking price $275,000.
Text me for more details 818-445-7953.
