L.A. real estate news and insights.
Here is the most expensive home sold this week in Pasadena.
Asking price: $13,700,000
Selling price: $13,255,572
This home has 5 bed/7 bath, 11,855 sq. ft. of living space, and is on 1.7 acres of land.
The property features the main residence, guest house, pool house, and a caretaker’s apartment.
The grounds include a lighted tennis court, putting green, pool spa, and rose garden.
Here is the cheapest home for sale this week in Burbank.
Asking price: $749,850
This home has 2 bed/1 bath, 860 sq. ft. of living space, and is on a 6,751 sq. ft. lot.
The Burbank Airport Authority updated the windows, doors, and central air & heat to reduce interior noise levels.
The backyard is large with room to expand the home.
Text me if you want a tour at 818-445-7953.
"Hot Home” alert in Glassell Park.
Asking price: $1,199,100
Across the street from a cemetery, this Mid-Century Modern home has 2 bed/2 bath, 1,901 sq. ft. of living space, and is on a 9,551 sq. ft. lot.
This hillside hideaway features an open concept living and dining area, a master suite that has its own deck, and a loft space upstairs.
Text me if you want a tour at 818-445-7953.
Student debt has long been blamed for preventing many home sales. Half of potential home buyers surveyed this year say they haven’t bought yet because of student debt, according to a report by the National Association of REALTORS® and Morning Consult. Millennials are the most likely to point to student debt for delaying homeownership.
“Housing affordability is worsening, leaving future home buyers with student debt at a severe disadvantage,” NAR President Charlie Oppler told CNBC.
Student loan debt can affect eligibility for a mortgage. A borrower’s payment history on student loans can affect their credit score. Any defaults on student loans will make it more difficult to get approved for a mortgage, lenders say.
But those with student loan debt are still finding ways to buy. For example, they can apply for a mortgage with a co-signer such as a family member or friend to help to improve their credit status.
Staying current on student loan payments is crucial, Mark Kantrowitz, a higher education expert, told CNBC. Borrowers should avoid deferments or forbearances leading up to homeownership.
Kantrowitz noted one exception, however: the current option to pause payments without accruing interest. The U.S. Department of Education started offering this option to borrowers at the beginning of the pandemic, though it will end in January. “The eligible federal student loans are reported as current to the three national credit reporting bureaus, so there shouldn’t be an impact on applying for a mortgage,” Krantowitz told CNBC.
Here is the cheapest home for sale this week in Encino.
Asking price: $799,000
This home has 2 bed/2 bath, 1,631 sq. ft. of living space, and is on a 6,311 sq. ft. lot.
The home features a sunken family room and hardwood floors throughout.
The backyard has a heated pool and a detached garage that has ADU potential.
Text me if you want a tour at 818-445-7953.
This is the most expensive home sold this week in La Crescenta.
Asking price: $1,349,000
Selling price: $1,777,000
This mid-century modern home has 3 bed/2 bath, 1,950 sq. ft. of living space, and is on a 12,000 sq. ft. lot.
The home has had extensive remodeling done over the past few years.
There is an updated kitchen, bathroom, surround outdoor lighting, soft-light recessed lights throughout, iron double-doors, and a large pantry/laundry room.
There is a recently completed heated salt-water pool with jacuzzi and water cascades outside along with wide-angle views of DTLA and the Crescenta and San Fernando Valleys.
Actress Jane Levy just bought this 113-year-old home in the La Brea Terrace Community.
Asking price: $3,199,000
Selling price: $3,230,000
This California Craftsman home has 3 bed/3 bath, 2,343 sq. ft. of living space, and is on a 14,607 sq. ft. lot.
The home features a main house that has 2bed/2bath and there is a vaulted post and beam 1bed/1bath guest house.
Did she get a good deal?
“Hot Home” alert in Echo Park’s Elysian Heights.
Asking price: $2,349,000
This A-frame cabin has 4 bed/3 bath, 2,676 sq. ft. of living space, and is on a 7,500sq. ft. lot.
The home features a detached 172 sq. ft. office space and an 1800 sq. ft. refinished deck that offers hillside/DTLA skyline views.
Text me if you want a tour at 818-445-7953.
Between Sept. 12 and Oct. 17, the majority of housing markets nationwide will reach their “sweet spot” with a higher number of homes for sale, lower prices, and less buyer competition compared with the average week of the year, according to realtor.com®’s Best Time to Buy Report.
For Los Angeles, the report found Sept. 12 - Sept. 18 to be the best time of year.
Overall, house hunters who purchase a home between Sept. 12 and Oct. 17 will see, on average, 31% more listings than a more typical week of the year. They'll have more than 100,000 new listings to choose from nationwide, realtor.com® said. They are also likely to face less competition. They also could see prices recede somewhat, by as much as $10,000 below their seasonal highs.
“Home prices peaked in the summer, and new listings continue to come on the market helping slow the pace of sales—which is good news for home buyers,” said Danielle Hale, realtor.com®’s chief economist. “As families across the country focus on getting back into school routines, there are fewer buyers in the market, creating a great opportunity especially for first-time home buyers to make a purchase with somewhat less competition.”
The data might be true as I was able to open up another escrow for one of my clients this week!
Don't worry, I got a guy that can change the court to Laker purple and gold for you.
“Hot Home” alert in Toluca Woods.
Asking price: $2,300,000
This 2 story home has 4 bed/4.5 bath. 3,587 sq. ft. of living space and is on an 8,101 sq. ft. lot.
Text me if you want a tour at 818-445-7953.
This is the most expensive home to sell this week in Los Angeles.
Asking price: $25,000,000
Selling price: $23,900,000
Located in the Brentwood area, this brand new construction home has 8 bed/11 bath, 12,043 sq. ft. of living space, and is on a 38,928 sq. ft. lot.
The home features disappearing electrified Fleetwood doors, an attached 3 bedroom guesthouse, and a chic screening room with blue velvet walls.
There is a Cantera stone patio in the backyard that overlooks a 48-foot swimmers pool and spa along with an outdoor cabana that has a fireplace and kitchen.
What do you think is the most expensive home to sell this week in LA?
I'll tell you in my next post!
In this video, we have the cheapest home to sell this week in Los Angeles.
Selling price: $370,000
This home has 1 bed/1 bath 576 sq. ft. of living space and is on a 2,200 sq. ft. lot.
Close to South Park Recreation Center, USC, and DTLA.
Not available on Zillow, Redfin, or the MLS... Off-market property in West Hills!
This move-in ready home has 4 bed/3 bath, 2,333 sq. ft. of living space and is on a 7,508 sq. ft. lot.
The renovated & remodeled home features dual pane windows, high ceilings in the living room, stainless steel appliances in the kitchen, and a large family room with a fireplace.
There is a bonus room downstairs with a separate entrance and kitchenette.
The private backyard has a fishpond & fruit trees.
Text me if you want a tour at 818-445-7953.
"Lifestyles of the rich and the famous... They're always complainin" remember that Good Charlotte song?
Nicole Richie & Joel Madden from Good Charlotte just bought this Beverly Hills mansion for $10,105,000.
The home has 5 bed/7 bath, 6,165 sq. ft. of living space, and is on a 15,806 sq. ft. lot.
Do you think Joel has anything to complain about in this house?
Mortgage rates remain below 3% for the eighth consecutive week, but economists believe job growth will determine how much longer they'll likely stay so low. The 30-year fixed-rate mortgage averaged 2.87% this week, Freddie Mac reports.
“Job growth seems to be very critical for the following several months as it will indicate when the Fed’s tapering will likely start,” Nadia Evangelou, a senior economist and director of forecasting for the National Association of REALTORS®, writes for the association’s blog. “There is ample talk about the Fed cutting its monthly bond purchases before the end of the year.”
The Fed’s asset purchases have helped keep rates lower than they otherwise would be, Evangelou adds. “Expect mortgage rates to rise further when the Fed will raise interest rates since rising interest rates increase the cost of mortgages,” she notes.
