L.A. real estate news and insights.
Indonesian Heiress just bought this Beverly Hills mansion.
There is 8 bed/12 bath, 10,750 sq. ft. of living space, and is on a 22,117 sq. ft. lot.
The home features a 7.1 movie theater, a fully equipped gym, a half-court basketball court, a plunge pool, a bar, an elevator, a secondary kitchen with an outdoor BBQ, and 2 glass-enclosed temperature-controlled wine display.
Original asking price: $21,995,000
Selling price: $20,800,000
My phone number is 818-445-7953.
Carmelo & La La Anthony sell Beverly Grove home.
This Spanish-style bungalow has 3 bed/3 bath, 2,118 sq. ft. of living space, and is on a 6,507 sq. ft. lot.
Asking price: $2,595,000
Selling price: $3,000,000
Kat Von D finally sells mansion with blood-red pool.
This Victorian mansion has 13 bed/9 bath, 12,565 sq. ft. of living space, and is on a 26,966 sq. ft. lot.
Original asking price: $15,000,000
Selling price: $7,750,000
A new state program just launched for first-time homebuyers. The California Dream For All program provides homebuyers with financial assistance equal to 20% of a home’s purchase price. Those funds can be used for a downpayment and closing costs when purchasing your first home. The program offers first-time homebuyers in California a shared appreciation loan of up to 20% of the cost of the home. If you’re buying a $500,000 home, you’d receive 20%, or $100,000, to help with a downpayment and closing costs. Once the homebuyer sells their home at a later date, they would be required to pay back the 20% assistance, plus 20% of the home’s appreciation. If your $500,000 home sells in five years for $700,000, you’d owe 20% of $200,000 appreciation — or $40,000 — in addition to the original loan. If you sell your home and it hasn’t grown in value, you’d only pay back the original 20% loan, according to the California Housing Finance Authority,
This program is open to first-time homebuyers in California — meaning you’ve never owned a home. A first-time homebuyer is also someone who owned a home three or more years ago and sold it, according to the CalHFA. Borrowers must also plan to live in the new property they are buying. The program does not allow for non-occupant co-borrowers or co-signers. In addition to being a first-time homebuyer, borrowers must meet income requirements depending on their county. In Los Angeles County, borrowers must make under $180,000 per year.
Better hurry! The state has allocated about $300 million toward the California Dream For All program, according to State Treasurer Fiona Ma. This will provide assistance for an estimated 2,300 homebuyers in California.
Source: NBC 4 Los Angeles
Record Producer Irv Gotti buys a 2nd mansion in Encino.
Selling price: $10.2 million – sold off market.
Here is the smallest home for sale this week in LA!
This home has 2 bed/1 bath and 572 sq. ft. of living space.
Asking price: $999,990
Text me for more info at 818-445-7953.
$2 Billion Powerball winner buys another home – this one in Altadena.
This home has 5 bed/5 bath, 4,361 sq. ft. of living space, and is on a 29,757 sq. ft. lot.
The Japanese-inspired home features an open floor plan, floor-to-ceiling windows, a gourmet kitchen, a home theater, and a studio.
Asking price: $4,000,000
Selling price: $3,983,000
Did you see the ADU?
For the general location of this Sierra Madre off-market property, in Google maps, put in "Grand View Ave. and Cañon Ave."
Text me for more info at 818-445-7953.
The Spanish-style home features wrought iron railings, arch-shaped doors, stained glass windows, and a gourmet kitchen.
Outside there are fruit trees, a gazebo, and an ADU.
Oldest home for sale in Highland Park.
Asking price: $2,800,000
The home has 4 bed/4 bath, 2,731 sq. ft. of living space, and is on a 9,605 sq. ft. lot.
Call for a private showing 818-445-7953.
This past November, Los Angeles voters backed Measure ULA, a transfer tax on big-ticket property sales that the city says will generate a new revenue stream for affordable housing projects and homelessness prevention. Known as the “mansion tax,” Measure ULA will impose a 4 percent tax on property sales above $5 million and a 5.5 percent tax on properties above the $10 million mark. The tax must be paid by the seller.
The City of Los Angeles now expects to make a lot less from its new transfer taxes than originally advertised.
Measure ULA is projected to generate up to $672 million in revenues from July 1 of this year through June 30 of next year, according to an analysis from the City Administrative Office, which conducts financial and budget analyses. The office released its report 2 weeks ago.
The new numbers are about 25 percent less than original estimates provided to voters in November, assuming about $5.1 billion less in property sales.
Late fashion designer Max Azria’s LA megamansion now asking $65,000,000.
The estate has 14 bed/25 bath, 10,829 sq. ft. of living space, and 2.8 acres.
Call for a private showing 818-445-7953.
Here is the largest & most expensive home sold this week in LA County
The home has 8 bed/14 bath, 13,607 sq. ft. of living space, and is on a 37,668 sq. ft. lot.
Asking price: $25,000,000
Selling price: $23,000,000
Fender CEO just sold his Hollywood Hills home in an off-market deal.
The home has 4 bed/5.5 bath, 4,744 sq. ft. of living space, and is on a 39,277 sq. ft. lot.
Selling price: $10,500,000
Sales of previously occupied U.S. homes surged in February to the fastest pace in six months as homebuyers seized on a modest drop in mortgage rates.
Existing home sales jumped 14.5% last month from January to a seasonally adjusted annual rate of 4.58 million, the National Association of Realtors said Tuesday.
The surge in sales — the biggest on records going back to 1999 — ended a 12-month slide that knocked the nation’s housing market into its deepest slump in nearly a decade and left sales in January at the slowest pace in more than a dozen years.
