L.A. real estate news and insights.
Here is the smallest home for sale this week in West Hollywood.
This Craftsman Bungalow has 1 bed/ 1 bath,565 sq. ft. of living space, and is on a 2,240 sq. ft. lot.
The property features privacy fencing, a wrap-around deck, a fire pit, and a lounge area.
Asking price: $1,160,000
Text me for more info at 818-445-7953.
For the general location of this off-market Encino property, in Google maps, put in "Sepulveda Blvd. and Valley Vista Blvd."
This 2-story home has 6 bed/ 6 bath, over 4,000 sq. ft. of living space, and the lot is almost 12,000 sq ft.
This Royal Oaks home features an updated kitchen, remodeled bathrooms, and a large primary ensuite with walk-in closets.
The backyard has a large pool and Valley Views.
Text me for more info at 818-445-7953.
Rage Against the Machine’s Zack de la Rocha buys home in Silver Lake!
This Mid-Century home has 3 bed/ 3 bath, 2,000 sq. ft. of living space, and is on a 5,197 sq. ft. lot.
Asking price: $2,995,000
Selling price: $3,680,000
What’s interesting about most data reports is that they are 1 - 2 months behind. For example, the S&P Case-Shiller Home Price Index that was released today discusses sales data for February. There is no mention of what the market has been going through in March and April.
I can personally tell you that in April we are seeing multiple offers on well priced properties. In many cases homes are selling well above asking price. I would imagine that when the April Home Price Index report comes out in 2 months, it will show that the 1.3% price drop experienced in February will be a thing of the past and the numbers will turn positive. I could be wrong, but I doubt it based on what I am seeing.
Here is some data from today’s S&P Case-Shiller Home Price Index report:
Miami’s 10.8% year-over-year gain made it the best-performing city for the seventh consecutive month. Tampa (+7.7%) and Atlanta (+6.6%) continued in second and third place, with Charlotte (+6.0%) close behind.
Results were different in the Pacific and Mountain time zones. Last month, four West Coast cities (San Francisco, Seattle, San Diego, and Portland) were in negative year-over-year territory. In February they were joined by four of their western neighbors, as Las Vegas (-2.6%), Phoenix (-2.1%), Los Angeles (-1.3%), and Denver (-1.2%) all tipped into negative territory.
Halsey is selling her sprawling Los Angeles compound.
Asking price: $11,950,000
There is a pool, koi pond, outdoor kitchen, fireside lounge, lush gardens, and waterfalls outside.
Text me for more info at 818-445-7953.
For the general location of this Beverly Hills off-market property, in Google maps, put in "Cresent Dr. and Sunset Blvd."
The 2-story brick home has a large backyard with an oversized pool, guest house, gardens, and cabana.
Text me for more info at 818-445-7953.
Tyler, the Creator, buys another property in Bel Air!
This home has 4 bed/ 6 bath, 5,000 sq. ft. of living space, and is on a 36,590 sq. ft. lot.
Fixer Property, Asking $825K.
For the general location of this off-market Northridge property, in Google maps, put in "Reseda Blvd. and Nordhoff St."
This home has 3 bed/ 2 bath, 1,669 sq. ft. of living space, and is on a 9,735 sq. ft. lot.
The corner lot home features a large basement and a swimming pool.
Text me for more info at 818-445-7953.
Rihanna buys "Mansion in the Sky" in Century City.
Asking price: $28,000,000
Selling price: $21,000,000
This condo has 4 bed/ 8 bath, 9,290 sq. ft. of living space, and takes up the entire 40th floor.
The building amenities include four deeded parking spots in its underground garage, 24/7 concierge and security guards, access to an outdoor swimming pool and lush gardens, onsite storage facilities, an in-house restaurant, conference rooms, and much more.
Today’s homebuyers are exceptionally sensitive to mortgage rates with house prices so high — and they’ve found their tipping point.
The majority of potential homebuyers, 71%, say they will not accept a 30-year fixed mortgage rate over 5.5%, according to a survey done in March by John Burns Research and Consulting. The current rate, however, is around 6.4%.
If so many potential buyers, however, are saying they won’t buy unless they get a rate below 5.5%, they may be sitting on the sidelines for a while. Mortgage rates have been over 6% for nearly a year and are not expected to move much lower this year.
An April survey from U.S. News and World Report seems to corroborate these findings: It found that 66% of Americans who plan to buy a home this year said they are waiting until rates fall.
The U.S. News survey also found that 25% of homebuyers who are holding out for lower rates are waiting until they drop below 5%. Nearly two-thirds of respondents said they’ve had to reduce their housing budgets due to the current level of mortgage rates.
Here is the most unique party pad for sale in Bel-Air.
Asking price: $35,680,000
This home has 5 bed/ 5 bath, 4,361 sq. ft. of living space, and is on a 29,757 sq. ft. lot.
El Canto Del Agua features a glass wine cellar, a 20-person home theater, a fitness/wellness gym, and much more.
The backyard has a terraced pool with waterfalls, stepping stones, a conversation fire pit, and an ADU.
Dodgers Star Freddie Freeman buys all-new Studio City home.
Asking price: $8,500,000
Selling price: $7,825,000
This home has 4 bed/ 6 bath, 6,289 sq. ft. of living space, and is on a 9,663 sq. ft. lot.
The home features open-concept living spaces with oversized steel-case windows and doors providing indoor/outdoor living.
The private rear yard has a detached full-service guest house, a large black bottom pool, an infrared sauna, and a fire pit sitting area.
This is the smallest home sold this week in Los Angeles.
Asking price: $620,000
Selling price: $725,000
Brad Pitt swaps homes with Aileen Getty in Los Feliz.
This home has 3 bed/ 3 bath, 2,092 sq. ft. of living space, and is on a 12,664 sq. ft. lot.
The Steel House features huge glass panels, allowing breathtaking views of Los Angeles.
Jersey Shore cast member Ronnie Ortiz-Magro just sold this Porter Ranch home.
Asking price: $2,900,000
Selling price: $2,600,000
