LA predicted to be one of the top luxury real estate markets for 2023

In ranking 25 of the world’s top luxury, or “prime,” real estate markets, Dubai topped the list, with prices expected to increase 13.5% in 2023, according to real estate consultancy Knight Frank. Miami ranked second, with prices expected to increase 5%. Dublin, Lisbon, and Los Angeles followed, with 4% expected increases.

The worst performers next year are expected to be Seoul and London, with prices expected to drop 3% for both. New York ranked in the middle of the pack, at 13, with prices expected to increase 2% next year.

Looking for a completely, remodeled corner unit condo in Encino? STOP & WATCH this video!!

For a private tour, call/text the listing agent, Daniel Madariaga, at 818-445-7953. For more info, visit DensmoreCondo.com.

Located South of Ventura Boulevard, within the Lanai Road Elementary school district, on the same street with multi-million-dollar homes, you will find this completely remodeled 3-bedroom, 2-bathroom ground-floor corner unit!

This open-floor plan home has a huge living room and large private patio, perfect for a BBQ. There is also a gigantic community side yard right off the unit. Close the gates and let your pets explore or play a game of soccer with the kids! The spacious kitchen has brand-new stainless-steel appliances, custom cabinets, and a breakfast bar. The primary bedroom has an ensuite bathroom with double sinks.

Other features include central AC and heat, copper plumbing, recessed lighting, 2 private parking spots in a secured access subterranean garage, and plenty of guest parking. The complex has a big pool, clubroom, and BBQ area. Pets are welcome, earthquake insurance and water utility are included, and the building is FHA-approved. Purchase this unit with as little as a 3.5% down payment.

If you are looking for a remodeled South of Ventura Boulevard 3-bedroom condo, with plenty of outdoor space, at a great value, this just might be the home for you.

Coming soon to Encino!

3 bed / 2 bath

1,490 Sq ft

Asking price: $674,999

Contact the listing agent, Daniel Madariaga, for a private tour BEFORE it hits the market.

818-445-7953

Didn't get the invite?

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.

Investors! This Van Nuys fixer-upper is for sale & waiting for a makeover!

This is the best "Fixer Upper" for sale this week in Van Nuys.

Asking price: $824,998

This custom-built farmhouse has 2 bed/3 bath, 2,066 sq. ft. of living space, and is on a 4,048 sq. ft. lot.

Text me for more info at 818-445-7953.

This gorgeous, art nouveau mansion is for sale in Los Feliz! Look inside!

Here is the most expensive home for sale this week in Los Feliz.

Asking price: $9,885,000

This grand art nouveau mansion has 4 bed/4 bath, 5,582 sq. ft. of living space, and is on a 75,596 sq. ft. lot.

The home features a 2 story living room, octagonal lounge/study rooms, a stone staircase, an observation tower, and a large roof terrace.

Outdoors include gardens, a basketball court, a guest apartment, and a large 2nd flat lot.

Text me for more info at 818-445-7953.

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.

This home for sale in Sunland/Tujunga is over 130 yrs old! See inside!

Would you buy a home built in the 1800s?

Asking price: $750,000

This home has 3 bed/2 bath, 1,190 sq. ft. of living space, and is on a 5,575 sq. ft. lot.

The property has a huge backyard and there is a detached structure with 1 bedroom and living room.

Text me for more info at 818-445-7953.

Check out the cheapest condo sold this week in DTLA!

Good thing there is 24-hour security.

Here is the cheapest condo sold this week in DTLA.

Asking price: $425,000

Selling price: $405,000

This condo has 1 bed/1 bath and 670 sq. ft. of living space.

Building amenities include a rooftop pool, a fitness center, and a convenient local market in the complex.

This unique Burbank castle could be yours! Text me ASAP!

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.

Find out how much Ryan Seacrest's Beverly Hills estate ended up selling for!

Ryan Seacrest finally sells his Beverly Hills home.

Original asking price: $85,000,000

Selling price: $51,000,000

The home was listed in November 2020 for $85M and when it didn't sell it was relisted for $69M.

This private, secluded estate has a total of 7 bed/10 bath, 9,000 sq. ft. of living space, and is on over 3 acres.

These top 5 housing markets are expected to crash first…

According to the results of a survey from Consumer Affairs, if you call one of these five cities home, you might want to prepare for your home’s value to take a tumble in the year ahead.

1) Austin, Texas

2) Atlanta

3) Bakersfield, California

4) Los Angeles

5) Albuquerque, New Mexico

Coming in at number four, 23% of those polled believe Los Angeles is the city most likely to see housing prices drop.

As of October, the median listing home price in Los Angeles was $999,000 at $649 per square foot, up 5.2% year-over-year. The median home sold price was $915,000, with homes selling after a median 62 days on the market.

Prices have decreased slightly since July, down from a median listing price of $1 million at $654 per square foot. But the drops can especially be seen in the median sale prices in L.A. — down from $948,000 in the summer. And homes are lingering on the market for nearly two weeks longer, compared to 49 days in July.

If prices drop as much as 15% from the summer’s numbers, that would lower the median listing price to $850,000 — a decrease of $150,000.