L.A. real estate news and insights.
Most expensive home for sale this week in North Hills.
Asking price: $867,500
This Mid Century home has 4 bed/3 bath, 1,878 sq. ft. of living space, and is on an 8,200 sq. ft. lot.
The corner lot home features a 2 car garage, pool w/ spa, fire pit, large grassy area, and patio.
Text me if you want a tour at 818-445-7953.
Text me if you want a tour at 818-445-7953.
“Hot Home” in Silver Lake.
Asking price: $2,599,000
This Danish Modern style home has 2 bed/2 bath, 1,213 sq. ft. of living space, and is on a 12,086 sq. ft. lot.
The home features Fleetwood walls of glass that reveal the historic Silver Lake Reservoir and mountain views.
Outdoors there is a custom hen house, raised vegetable garden, fruit trees, dining terrace, and workshop.
The Ace Family's foreclosed mansion finally hits the market!
Asking price: $12,999,900
This mega-mansion has 12 bed/13 bath, 13,349 sq. ft. of living space, and is on a 27,633 sq. ft. lot.
The property has resort-like grounds and has 360 unobstructed views.
Text me if you want a tour at 818-445-7953.
The housing market doesn’t appear to be following its typical seasonal slowdown this winter. Homebuyers appeared in a rush last week, with economists crediting rising mortgage rates.
Mortgage rates moved to their highest level in more than a year, the Mortgage Bankers Association reports. Buyers who are already facing higher home prices are watching mortgage rates closely as they affect what shoppers can afford.
Mortgage purchase loan applications increased 2% last week compared to the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index. Purchase applications, however, are 17% lower than the same week a year ago, but real estate pros say that is primarily due to low inventories of homes for sale. They reported to CNBC anecdotally higher-than-normal activity in early January from home shoppers.
The MBA reports that the average contract interest rate for a 30-year fixed-rate mortgage for conforming loan balances rose to 3.52%, up from 3.33% the previous week. That marks the highest contract rate since March 2020.
“Mortgage rates increased significantly across all loan types last week as the Federal Reserve’s signaling of tighter policy ahead pushed U.S. Treasury yields higher,” says Joel Kan, an MBA economist.
Source: “Fear of Even Higher Mortgage Rates May Be Heating Up Winter Homebuying,” CNBC (Jan. 12, 2022)
Here's the most expensive home sold this week in Burbank.
Asking price: $1,900,000
Selling Price: $1,875,000
This Tuscan Villa home has 4 bed/3.5 bath, 3,656 sq. ft. of living space, and is on a 7,958 sq. ft. lot.
The home features a formal dining room, kitchen with a huge center island, breakfast bar, walk-in pantry, and separate butler’s pantry.
The primary suite has an oversized walk-in closet, fireplace, private balcony, and full en-suite bathroom.
There is also a media room and a 2 car garage.
"Punky Brewster" Soleil Moon Frye Sells Hollywood Hills Home to ‘Mortal Kombat’s’ Jessica McNamee.
Selling price: $2.814 million
This Spanish Villa has 5 bed/5 bath, 3,030 sq. ft. of living space, and is on a 10,341sq. ft. lot.
The private estate features indoor/outdoor living spaces, wood-beamed ceilings, terracotta floor tiles, and other vintage details.
Along with the exceptional views outdoors, there is a patio, gardens, and mature landscaping.
Cheapest home on the market this week in Burbank. Text me if you want a tour at 818-445-7953.
Asking price: $1,199,000
This home has 3 bed/2 bath, 1,454 sq. ft. of living space, and is on a 6,881 sq. ft. lot.
The home features hardwood floors, a brick fireplace, a family room with vaulted ceilings, and recently remodeled bathrooms.
The property also features a landscaped yard, lemon tree, and a 2 car detached garage which has ADU/ guesthouse potential.
Off Market property in Los Angeles. You won't find this one anywhere else but here.
This home has 5 bed/4.5 bath, 4,000 sq. ft. of living space, and is on a 6,204 sq. ft. lot.
The gated home features hardwood floors throughout, open concept staircases, walls of glass, and Miele appliances in the kitchen.
The primary bedroom has a fireplace, 2 closets, an ensuite bathroom, and a large balcony. There is also a media room upstairs along with a laundry room.
There is a pool with a spa and a deck in the private backyard. Walking distance to tons of restaurants and shops on Melrose Ave.
Text me if you want a tour at 818-445-7953.
Mortgage rates have taken a big leap at the start of the new year. In the first week of 2022, the 30-year fixed-rate mortgage jumped nearly 60 basis points higher than a year earlier, averaging 3.22% this week, Freddie Mac reports.
“Mortgage rates increased during the first week of 2022 to the highest level since May 2020 and are more than half a percent higher than January 2021,” says Sam Khater, Freddie Mac’s chief economist. “With higher inflation, promising economic growth, and a tight labor market, we expect rates will continue to rise. The impact of higher rates on purchase demand remains modest so far given the current first-time home buyer growth.”
The National Association of REALTORS® forecasts that mortgage rates will average 3.7% by the end of this year.
Source: Freddie Mac and “Instant Reaction: Mortgage Rates, January 6, 2022,” National Association of REALTORS® Economists’ Outlook blog
Here's an update on 2 "Hot Homes" I recently told you about.
Hot Home #1: Roderick Pl., Los Angeles
Asking price: $1,199,000
Sold price: $1,405,000
Hot Home #2: Riverside Dr., Glendale
Asking price: $3,995,000
Sold price: $4,150,000
Most expensive condo sold this week in Hollywood.
Asking price: $1,055,000
Selling Price: $1,025,000
This luxury corner-unit condo has 2 bed/2.5 bath and 1,858 sq. ft. of living space.
The home features an open floor plan, hardwood floors, gas fireplace, built-in bar, and multiple floor-to-ceiling sliding doors that open to balconies with views of the Hollywood Hills and DTLA.
The building amenities include gated parking, low HOA dues, and its proximity to Runyon Canyon, Hollywood Blvd., and Sunset Blvd.
Text me if you want a tour at 818-445-7953.
“Hot Home” alert in Windsor Square, Los Angeles.
Asking price: $4,350,000
This classical Mediterranean home has 3 bed/3 bath, 3,380 sq. ft. of living space, and is on a 12,013 sq. ft. lot.
The home features fireplaces in the living room and study, a formal dining room, stainless steel appliances in the kitchen, and a master suite with a veranda and spa-like bathroom.
The backyard has a grassy yard, flagstone patio, and pool with a spa.
P Diddy is selling his Toluca Lake home that his ex Kim Porter lived in.
Asking price: $6,999,999
Selling price: Pending
This gated estate has 6 bed/7 bath, 9,655 sq. ft. of living space, and is on a 23,399 sq. ft. lot.
The home features a grand 2 story entry foyer, a large kitchen and great room, a fireplace and balcony in the master suite, and a media room upstairs.
The backyard has a large pool w/ spa, lawn, and basketball court.
There was a huge jump in Burbank property sales last year.
In 2021, Burbank had 876 property sales.
In 2020, Burbank had 703 property sales.
Do you think 2022 sales will outpace 2021 sales?
I want to wish you and your family a Merry Christmas and Happy Holidays!
Hope you have a wonderful time celebrating with your loved ones.
