6.5% of US homes for sale had a price drop
A recent report from Redfin said more home sellers are dropping their asking price. During the four weeks ending September 24, 6.5% of US homes for sale had a price drop, an uptick from 5.8% in August.
"It's still tough to win a home for under asking price, but sellers have come to terms with the fact that 7%-plus mortgage rates are giving buyers cold feet and that homes aren't as likely to attract multiple offers," Redfin said.
97,197 Southern California homes sold during the first seven months of 2023, the lowest January-to-July total on record.
This year's sales tally is 41% lower than during the pandemic boom two years ago.
Source: CoreLogic
From pizza to palatial living: CPK founder Larry Flax's Beverly Hills mansion sells!
CPK founder has sold his Beverly Hills mansion.
This home has 7 bed/12 bath, 14,239 sq. ft. of living space, and is on 2.89 acres.
The private property features a library, theater, elevator, home office, and a glass-enclosed conservatory.
Asking price: $48,500,000
Selling price: $34,400,000
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The Epitome of Unique: Discover the 'Allure' estate for sale in Brentwood!
This "Allure" estate in Brentwood is available right now!
This property has 7 bed/9 bath, 14,000 sq. ft. of living space, and is on 1.3 acres.
The home's standout feature is a “living moss wall.” Hand-assembled piece-by-piece, it is approximately 30 feet above the main living area and seamlessly blends into the skylight.
Text me if you want a tour: 818-445-7953.
View this antique gem: Queen Anne Victorian fixer-upper for sale in LA!
Oldest fixer-upper for sale this week in Los Angeles.
The Queen Anne Victorian home has 3 bed/2 bath, 1,050 sq. ft. of living space, and is on a 4,077 sq. ft. lot.
Asking price: $950,000
Text me if you want a tour: 818-445-7953.
Take a peek at this week's smallest house for sale in Alhambra! #pocketsized
This is the smallest home for sale in Alhambra.
This property has 2 bed/1 bath, 400 sq. ft. of living space, and is on a 1,873 sq. ft. lot.
Asking price: $550,000
Text me if you want a tour: 818-445-7953.
Discover this one-of-a-kind Eco-House in Echo Park! On the market now!
Here is the most unique home for sale in Echo Park.
This new construction home has 3 bed/4 bath, 2,296 sq. ft. of living space, and is on a 2,612 sq. ft. lot.
Asking price: $2,425,000
Text me if you want a tour: 818-445-7953.
The iconic Wave House is for sale! Malibu Gem with a Rockstar Legacy!
Rod Stewart’s former Wave House hits the market in Malibu.
Asking price: $49,500,000
Text me if you want a tour: 818-445-7953.
Step back in time: This restored 1907 Mission Revival home is for sale in Angelino Heights!
Restored 1907 Mission Revival for sale in Angelino Heights.
This home has 4 bed/2 bath, 2,711 sq. ft. of living space, and is on a 5,868 sq. ft. lot.
Asking price: $2,495,000
Text me if you want a tour: 818-445-7953.
Discover the oldest home sold this week in LA! A Victorian Gem!
This is the oldest home sold this week in Los Angeles!
Year built: 1895
Asking price: $889,000
Selling price: $978,000
This Victorian home has 4 bed/2 bath, 1,774 sq. ft. of living space, and is on a 7,775 sq. ft. lot.
The restored and upgraded home features a wrap-around porch, 12 ft ceilings, period-style lighting, and a remodeled kitchen.
The lucky POWERBALL winner just bought ANOTHER house! Take a look!
$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
This Historic Craftsman is the oldest home for sale this week in Highland Park! A must-see!
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.
The new "mansion tax" that starts Saturday is now projected to bring in 25% less than original estimates advertised to voters in November.
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.
