L.A. real estate news and insights.
This is the most unique home for sale in Burbank.
Asking price: $6,495,000
This custom-built Victorian Tutor home has 4 bed/5 bath, 5,317 sq. ft. of living space, and is on a 31,991 sq. ft. lot.
The "Burbank Castle" features vaulted ceilings, a private wrap-around balcony, Venetian plaster walls, and unobstructed panoramic city and mountain views.
Outdoor amenities include a saltwater pool w/ bridge, spa, an outdoor kitchen & 4 car garage.
Text me for more info at 818-445-7953.
Is not having a backyard a deal breaker?
Here is the most expensive home for sale this week in the Burbank hills.
Asking price: $1,599,000
This home has 4 bed/3 bath, 2,980 sq. ft. of living space, and is on a 7,758 sq. ft. lot.
The home is on a private road and features an open floor plan, a wood-topped bar, a gourmet kitchen, a large balcony, and a patio area.
The property is close to hiking trails, golf courses, and the famous Castaway Restaurant.
Text me for more info at 818-445-7953.
Remodel it or tear it down and build a new home?
Here is the cheapest home sold this week in the city of San Fernando.
Asking price: $679,000
Selling price: $650,000
6 bed/3 bath, 2,155 sq. ft. of living space, and is on an 8,142 sq. ft. lot.
The report from Consumer Affairs analyzed 2021 data from the U.S. Census Bureau against two metrics - median monthly housing costs and median owner-occupied unit values - to determine which U.S. cities are the most expensive. To the surprise of no one, California cities dominated the list, ranking four out of the top five spots.
Below shows the top 5 most expensive cities in the US, along with their median monthly housing costs (such as utilities, insurance, and rent or mortgage payment):
1) San Jose: $2,463
2) San Francisco: $2,337
3) San Diego: $2,044
4) Seattle: $1,984
5) Los Angeles: $1,845
Los Angeles comes in under Seattle in terms of median home values ($812,800) and median monthly housing costs ($1,845). However, because Los Angeles residents have a median household income almost $40,000 lower than Seattle's, it has the highest monthly housing costs relative to income of any city in the list's top 10.
If you're looking for the least expensive city for housing costs, head over to Detroit, Michigan. According to the report, residents' median monthly housing costs here are $755.
Best “fixer-upper” sold this week in Burbank.
Asking price: $975,000
Selling price: $925,000
This home has 2 bed/2 bath, 984 sq. ft. of living space, and is on a 6,020 sq. ft. flat lot.
Sold "as-is" in the highly desirable Magnolia Park neighborhood. Close to #WanerBros and #DisneyStudios.
For the general location, in Google maps, put in "Sepulveda Blvd. and Valley Vista Blvd."
This home has 6 bed/5 baths, over 3,900 sq. ft. of living space, and over 16,000 sq. ft. for the lot.
The multi-level home features views from every room and multiple balconies.
The terraced backyard has a lap pool and ample patio space, perfect for entertaining.
Text me for more info at 818-445-7953.
I have reached out to a ton of multi-unit property owners to see if they are interested in selling. The #1 response I get from the owner is that they can’t sell because their tenant stopped paying rent, they refuse to vacate the property, and the owner is not allowed to evict them. No one wants to buy a property where you have to take over that type of situation.
Looks like changes are coming soon.
Los Angeles County will move forward with a plan to lift its pandemic-era eviction moratorium and other renter protections by the end of the year, according to a 3-2 vote Tuesday by the Board of Supervisors.
The county’s moratorium, which took effect in March 2020, has protected tenants against evictions for nuisance, unauthorized occupants, and not providing entry to landlords.
With the eviction moratorium coming to an end, I’m predicting a huge increase in multi-unit properties hitting the market in 2023.
In a recent small survey, more than 90% of homebuyers say they found at least one issue with their home after the transaction that the seller didn’t disclose, according to a new survey from Cinch Home Services, a home warranty company. Even more alarming is that 94% of sellers admit to selling their homes without disclosing a known issue.
The top three problems buyers discovered after closing involved the electrical system, fixtures, and plumbing. The survey shows the majority came from unpermitted repairs and upgrades.
Source: Survey of 494 homebuyers and 476 sellers within the last year conducted by Cinch Home Services
For questions call/text the listing agent, Daniel Madariaga, at 818-445-7953. For more info visit CentinelaHome.com.
Attention Builders! This Silicon Beach property comes with fully approved RTI permits to build a 3-story duplex, with an attached ADU, all with an amazing rooftop deck.
Each unit has 3 bedrooms. Two units have 3 ½ baths, and one has 2 ½ baths. The plans also include an attached 1-car garage and 3 uncovered parking stalls.
Located close to Playa Vista, this property is just feet away from the Ballona Creek bike path, which takes you directly to the beach.
If you're looking to build three new units in Silicon Beach, all at a great value, this might be the property for you. RTI permits are available upon request.
Here's the best fixer-upper to hit the market this week in Burbank's Magnolia Park neighborhood.
Asking price: $1,100,000
This home has 3 bed/2 bath, 1,329 sq. ft. of living space, and is on a 6,577 sq. ft. lot.
The home has a separate family room, enclosed patio/sunroom, updated dual pane windows, and an upgraded electrical panel.
There is a large backyard with room to expand and a 2-car detached garage with ADU potential.
Text me if you want a tour at 818-445-7953.
Thank you for entrusting me with the biggest purchase of your life (so far) 😁.#repost from @lauran.mn
Home. 🏡
So many feelings. Thankful. Proud. Sad. Excited. We are so thankful for this opportunity in spite of what’s going on in the world right now. Proud because all of our hard work has come to fruition. Sad we’ll be leaving our cozy little apartment and the city we’ve called home for the past 5 years. Excited that we have a new, bigger place to create more memories in as a family. ✨
Also, decided it was probably time to upgrade since we’ll be sheltering in place for who knows how long. All of this could not have happened so quickly and so smoothly without our realtor, @daniellosangeles (Daniel Madariaga). Anyone in need of a realtor should def hit him up.
Home sellers do not have many options when it comes to canceling an escrow.
For example, you can't cancel an existing escrow if you find another buyer willing to pay more money for your home or if you simply change your mind about selling.
Once you are under contract with a buyer, you are basically stuck.
However, you can get out of escrow if the buyer refuses to perform.
So if the buyer refuses to remove their inspection contingency, give them the notice to perform.
If they still don't remove that contingency, then you have the right to cancel the deal.
Asking price $1,289,000 sold price $1,265,000
Do you think the back yard is big enough?
Buyers using cash to purchase a home typically close escrow in 7-14 days.
Buyers using a conventional loan to purchase a property (at least 5% down payment) typically close in 30 days.
Buyers using FHA loan to purchase a home (3.5% down payment) typically close escrow in 45 days.
On this episode, I answer the following four real estate questions:
1) Now that my offer is officially accepted, how long does it take to close escrow on the home?
2) How do I send my deposit money over to the escrow company?
3) Is there certain day I should close escrow on?
4) What is a special recording and how is it different than a regular recording?
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