L.A. real estate news and insights.
The recently released Greater Los Angeles Q2 2022 report shows that closed sales declined 21% in a year-over-year comparison during the second quarter.
The report covers the area spanning downtown Los Angeles to the Westside and the beach cities of Santa Monica and Malibu.
Its information was taken from deals recorded on the MLS.
Source: Sotheby’s International Realty
29.6% of all homes on the market in the Los Angeles metro area had price cuts in June.
That’s more than double the 12.6% rate of June 2021 and higher than in dozens of other cities, including San Francisco, Boston, Detroit and St. Louis.
Data provided by Redfin
For the general location, in Google maps, put in "Stevenson Ranch Pkwy and Stafford Canyon Rd."
Text me for more info at 818-445-7953.
This 2-story ranch home has 3 bed/3 bath.
The home features an open floor plan, high ceilings, natural light, a formal living room with a wet bar, and a family room with a fireplace.
The backyard has a pool with a waterfall feature and a covered patio.
At their last meeting in June, the Fed had a 75-basis point increase. That played a big part in the mortgage interest rates shooting up like crazy.
The Fed will now meet again at the end of July. Many economists predict the Fed will tighten its monetary policy further to control inflation. That could lead to another 75- or 100-basis point increase in the Fed’s short-term benchmark rate. While the Fed’s benchmark rate does not directly impact mortgage rates, it does influence them.
NAR Chief Economist Lawrence Yun said following the Fed’s last rate hike in June—its largest since 1994—that the buyer pool could shrink even further as mortgage rates increase.
Ozzy & Sharon Osbourne have listed their Hancock Park mansion for $18M.
This private estate has 6 bed/7 bath, 11,565 sq. ft. of living space, and is on a 24,320 sq. ft. lot.
Designed by architect A.K. Kellogg, the home features a chef's kitchen, a wood-paneled library, an elevator, and a screening room with a fireplace and bar.
The backyard has a pizza oven, barbeque, gardens, a swimming pool, and a guest apartment above the garage.
Text me if you want a tour at 818-445-7953.
Coming Soon!
4610 Densmore Ave #3.
Encino, CA 91436
Text me for more info at 818-445-7953.
This condo has 3 bed/2 bath and 1,404 sq. ft. of living space.
The first-floor unit has an open floor plan, in-unit laundry, and a private front patio.
The grounds have a community pool, an outdoor BBQ area, and 2 side-by-side parking spaces are included.
After several years of extremely depressed inventory available for sale, buyers are seeing the number of options available on the market return to pre-pandemic levels.
Last week, there were nearly 46,000 homes listed on various MLS's across California. That is well above 2021 levels and is approaching the 2020 peak reached before the effects of the pandemic began to erode supplies.
Listings of homes priced below $600,000 have started to rise as well, with twice as many homes between $400,000 and $600,000 for sale last week than at the beginning of the year.
Here is the most unique home for sale in Bel Air.
Asking price: $16,500,000
This new construction home has 4 bed/4 bath, 7,440 sq. ft. of living space, and is on a 10,316 sq. ft. lot.
The automotive-inspired intelligible shell-shaped home features a split-level architecture, indoor/outdoor flow, a wrap-around balcony, central bridging stairs, and a glass elevator cabin with a frameless glass shaft.
The rooftop deck has views of the Pacific Ocean and was constructed with a raised pedestal floor system that eliminates standing rainwater.
Text me if you want a tour at 818-445-7953.
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.
Alyson Hannigan’s gorgeous ‘This is Us’ house is on the market for $18M.
This multi structure-property has a total of 5 bed/8 bath, 7,605 sq. ft. of living space, and is on 3.26 acres of land.
Designed by architect Peter Tolkin, the gated hillside structures are made of concrete, wood, and glass pavilions.
The grounds have sycamores, orange, avocado, palm trees, succulents, an oversized tennis court, a swimming pool & spa.
Text me if you want a tour at 818-445-7953.
For the general location, the nearest major cross streets are Mulholland Dr and Woodrow Wilson Dr. in the Hollywood Hills.
Text me for more info at 818-445-7953.
This English Tudor home has 6 bed/8 bath, 7,202 sq. ft. of living space, and is on a 29,927 sq. ft. lot.
The compound features vaulted beamed ceilings, 4 fireplaces, both upstairs bedrooms are private ensuites and a 2-story guest house.
The grounds are private with multiple seating areas, a heated ozone infinity pool and spa, and panoramic views of the valley.
This picture was taken yesterday on the 4th of July. I was happy yesterday while participating in the wave at the Dodger game. I'm not so happy today after learning that my home's value will likely go down next year.
“It’s noteworthy,” Jordan Levine, chief economist at the California Association of Realtors, told the Los Angeles Times. “Prices are going to go down.”
Next year, he thinks the combination of job losses and higher interest rates will cause the statewide median home price to fall 7.1 percent compared with this year, with similar declines expected in Southern California.
Well, at least the Dodgers won.
Here is the most expensive home sold this week in Sherman Oaks.
Asking price: $3,995,000
Selling price: $3,705,000
This home has 4 bed/4 bath, 3,661 sq. ft. of living space, and is on an 11,323 sq. ft. lot.
The home features a dual-sided stone fireplace in the living areas, top-of-the-line appliances in the kitchen, and a fully equipped media room with a wet bar.
The backyard has an infinity pool and spa, multiple patios, a fireplace, an outdoor kitchen, and canyon views.
This is the cheapest home for sale this week in Lake Balboa. First time on the market in 50 years!
Asking price: $749,999
This home has 3 bed/1 bath, 1,168 sq. ft. of living space, and is on a 7,200 sq. ft. lot.
The home features dual pane windows, copper re-pipe, and a detached garage.
Text me for more info at 818-445-7953.
The cross streets are Galendo St. and Esparto St. in Woodland Hills.
Text me for more info at 818-445-7953.
This private, gated home has 4 bed/2 bath, 2,070 sq. ft. of living space, and is on a 10,348 sq. ft. lot.
The home features new light fixtures throughout, new exterior paint, and stucco, and the garage is converted into a family room.
The backyard has a Pebble Tec pool, spa, built-in BBQ, and firepit.
