Text the word "pie" to 818-445-7953, and you will get on the list for next year.
Happy Thanksgiving!🥧
You need to earn $221,592 to afford a typical home in LA
An analysis from the real estate site Redfin finds that would-be homeowners now need to earn $200,000 or more in eight U.S. cities, including L.A. This is because the average rate for a 30-year fixed loan is now hovering near 7%. Mortgage payments rose by an average of nearly 46% over the last year.
The typical U.S. homebuyer needs to pull down about $107,000 a year to afford a median monthly mortgage payment of roughly $2,700. Only a year ago, your salary needed to be closer to $74,000.
But some locations are much, much more expensive than others. In L.A., the median home price is $823,500. That means, by Redfin’s calculation, you need an annual income of $221,592 to make the numbers work.
Singer Shawn Mendes just bought this sophisticated LA home!
Shawn Mendes just bought this Beverly Grove neighborhood home.
Selling price: $4.6M
Designed by House of Shoor, this home has 4,000 sq. ft. of living space and is on a 6,271 sq. ft. lot.
This contemporary Parisian Villa style features custom steel doors that slide open, allowing for indoor/outdoor living.
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.
I'm thankful for all my friends & clients!
It's pie time!
Today is my 4th annual Thanksgiving pie giveaway! To show my appreciation for all the real estate business, referrals, and kindness I have received this year, I'm giving away giant pies for Thanksgiving! Didn't get the invite?
Sign up below and you will get on the list for next year.
Happy Thanksgiving!
24% of CA households could buy a $815K home
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.
Be surrounded by IMPECCABLE views in this "HOT HOME" for sale now!
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.
I'm thankful for all my friends and clients
I did it again... I gave all my friends and clients pies for Thanksgiving!
I am so grateful for all the real estate referrals you have sent my way this year.
You have all made 2019 the biggest and most successful year of my career so far!
This pie is a small token of my appreciation.
Thank you all and Happy Thanksgiving!
Didn't get the pie memo? Text me your email address and I'll be sure to include you in the festivities next year. 818-445-7953
