L.A. real estate news and insights.
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.
For the general location, in Google maps, put in "Foothill Blvd. and Mt Gleason Ave."
Text me for more info at 818-445-7953.
This home has 3 bed/2 baths, almost 1,500 sq. ft. of living space, and the lot is about 8,000 sq ft.
The fenced-in corner lot home features a spacious family room, an updated kitchen, a sizeable concrete-covered patio, and an attached garage.
For the general location, in Google maps, put in "Vanowen St. and Woodley Ave."
Text me for more info at 818-445-7953.
This corner lot home has 3 bed/2 baths and 1,534 sq. ft. of living space and is on a 5,425 sq. ft. lot.
The home could potentially be divided into 2 units. The 2-car garage would also make a nice ADU.
Mario Lopez just sold his beautiful Burbank home!
Asking price: $2,350,000
Selling price: $2,090,000
This Spanish Villa has 5 bed/5 bath, 4,387 sq. ft. of living space, and is on an 8,119 sq. ft. lot.
The 3 story home features a gourmet kitchen with a breakfast area, formal dining room, family room, and office.
There is a large patio area with a built-in BBQ and pizza oven. There is also a swimming pool, spa, and poolside cabana.
Longest home on the market in Chatsworth... 524 days!
Asking price: $764,995
This home has 3 bed/2 bath, 1,538 sq. ft. of living space, and is on an 8,095 sq. ft. lot.
The home is on a corner lot, and the backyard has a covered patio, a large gated pool, and an attached 2-car garage.
Text me if you want a private tour at 818-445-7953.
Here is the cheapest home for sale this week in Reseda.
Asking price: $619,900
This home has 2 bed/1 bath, 832 sq. ft. of living space, and is on a 6,409 sq. ft. lot.
The corner lot home is being sold "as-is" and has ADU potential.
Text me if you want a private tour at 818-445-7953.
Here is the cheapest home sold this week in North Hills.
Asking price: $749,950
Selling price: $700,000
This home has 3 bed/2 bath, 1,296 sq. ft. of living space, and is on a 7,320 sq. ft. lot.
The corner property features wood flooring throughout, new paint, recessed lighting, dual pane windows, and an updated kitchen.
This is the cheapest home sold this week in North Hollywood.
Asking price: $699,000
Selling price: $775,000
This corner lot starter home has 2 bed/1 bath, 810 sq. ft. of living space, and is on a 6,416 sq. ft. lot.
The home features central air/heat, double pane windows, a recently remodeled bathroom, and a 2 car garage that has great ADU potential.
Ten percent of homeowners say they plan to list their home for sale this year, and more than a quarter—26%—say they plan to list within the next three years, according to a new survey from realtor.com.
“In a typical year, we see about 8% of the nation’s homes hit the market, and we're expecting about 25% more this year,” says George Ratiu, senior economist at realtor.com®.
“This signals that many homeowners who were wary to list during the pandemic are getting ready to do so, and this much-needed inventory—especially for starter homes—will begin to relieve buyers’ challenges in a very competitive market.”
Do you think home prices will go down because of this?
Foreclosures and short sales represented less than 1% of sales in January, equal to December's percentage, but down from 2% in January 2020.
More house hunters—particularly move-up buyers—are being drawn to new-home construction in the COVID-19 pandemic, so much so that it’s driving a surge in construction across the country.
Single-family starts ended 2020 with the best year in home building since the Great Recession, and 11% higher than 2019.
Ultra-low mortgage rates and a shift in housing preferences—including a growing demand for larger spaces, home offices, and outdoor amenities—are driving the increase.
New-home construction will likely grow by 5% during 2021 and hit above 1 million housing starts for the first time in years.
Builders, however, are concerned about several challenges that could affect sales over the next few months, particularly related to rising construction costs.
Lumber prices, up 169% since mid-April, are significantly adding to the costs of building a new home.
Buyers are seeing the increases in home prices too: A median of $16,000 has been added to the cost of a newly built home from the increase in lumber prices alone.
Source: National Association of Home Builders’ data.
🚨”Hot Home" status alert🚨
Asking price is $1,099,000.
If you are interested in a private tour text me at 818-445-7953.
Home sales will be strong this Summer.
Expect a dip in sales once the flu season starts.
Look for a bounceback in December.
Home prices will slightly continue to rise the remainder of the year.
60 seconds isn't enough time to go over all my thoughts on what I think will happen in the real estate market for the rest of 2020.
Check out the full answer on my IGTV @DanielLosAngeles.
The flu season is going to look very different this year.
When everyone starts to get the flu in October, all we are going to hear about in the news is that the second wave of the coronavirus is coming.
I’m not a doctor so I don’t know if that will happen or not.
However, I do know that since a lot of people will be sick with the flu, the perception by the public in LA county will be that a second wave is inevitable.
Because of this perception, there will be fewer homeowners willing to put their property on the market, just like in late March after the stay-at-home order was issued.
I believe we will likely see a dip in home sales during that time in October.
I’m optimistic things will settle down by the time we get to December.
Hopefully, the homeowner’s perceptions will change once the news gets better.
