L.A. real estate news and insights.
Dodgers Star Mookie Betts just bought another home in Encino!
This tri-level home has 8 bed/10.5 bath, over 9,000 sq. ft. of living space, and is on over 2 acres.
The newly remodeled property features a rectangular swimming pool, an outdoor spa, and a full-size tennis court.
Featured in Hulu's mini-series ‘The Dropout,’ this LA estate finally sold!
This mansion has a total of 10 bed/12 bath, 24,488 sq. ft. of living space, and is on 1.5 acres.
This Holmby Hills property features a main house, guest house, theater, pool, jacuzzi, pond, tennis court, gym, and gardens.
Original asking price: $49,500,000
Selling price: $34,550,000
Dodgers All-Star Mookie Betts lists Encino home again at a lower price!
This newer construction home features a home theater, gym w/ sauna, zero-edge pool/spa, putting green, a 2-story guest house, and a gym/basketball court.
Asking price: $8,495,000
Text me for a tour at 818-445-7953.
Meghan Trainor’s Valley Village Farmhouse hits the market!
4 bed/4 bath, 3,401 sq. ft. of living space, and is on a 7,922 sq. ft. lot.
Asking price: $2,395,000
Text me if you want a tour: 818-445-7953.
"Hot Home” alert in Porter Ranch’s Westcliffe gated community.
Asking price: $2,999,950
This 3 story home has 4 bed/6 bath, 5,314 sq. ft. of living space, and is on a 9,904 sq. ft. lot.
The home features a large great room with high ceilings, a kitchen with a walk-in pantry, a home theater with an open-air deck, and an office with glass walls.
In the backyard, there is a pool with a swim-up bar, rain shower, spa, firepit, outdoor kitchen with BBQ, and basketball court with Kobe Bryant's brand logo.
Text me if you want a tour at 818-445-7953.
Rising inflation is pressing on Americans across the economic spectrum with costs for groceries to gasoline increasing. In November, consumer prices increased by 6.8% compared to a year ago, the largest annual gain in the past 40 years.
Some of the highest increases occurred for energy, shelter, cars, and food, which comprise about 61% of consumer purchases and account for 81% of inflation over the past 12 months, MarketWatch reports.
Renters may be feeling the impact. Rents are up 3% and accelerating at about 5% annually, says Lawrence Yun, chief economist of the National Association of REALTORS®.
Also, heating bills are increasing; natural gas prices have jumped by 25%.
Yun also warns that the increase in inflation is a primary reason that mortgage rates will likely rise in 2022. The 30-year fixed-rate mortgage is predicted to reach 3.7% by the end of 2022. Rates averaged 3.10% last week, according to Freddie Mac.
“One aspect of inflation is that real estate has proven to be a good hedge,” Yun says.
As he explains in a recent statement:
“In the 1970s, a high inflationary period when [the Consumer Price Index] averaged 7.1% per year, home price gains outpaced inflation with a 9.9% gain. Even when interest rates soared in the 1980s and thereby crushed home sales, home prices still held up to consumer price inflation: 5.5% versus 5.6%. That’s because rents are soaring. Other decades also show similar patterns. Therefore, for those concerned about the loss in purchasing power of money and savings, be assured that real estate has proven to be a good hedge against inflation.”
Source: “Instant Reaction: Consumer Price Index, December 10, 2021,” National Association of REALTORS® Economists’ Outlook blog and “Inflation Is Running Rampant in the U.S.—Here’s Where It Is, and Isn’t,” MarketWatch (Dec. 11, 2021).
Here's an update on 2 "Hot Homes" I recently told you about.
Hot Home #1: Vestal Ave., Los Angeles
Asking price: $2,349,000
Sold price: $2,400,000
Hot Home #2: Acorn St., Chatsworth
Asking price: $1,399,000
Sold price: $1,500,000
CLICK HERE to see my episode of "House Hunters Renovation"!
“Hot Home” alert in Sierra Madre.
Asking price: $1,198,000
This fixer-upper has 3 bed/2 bath, 1,794 sq. ft. of living space, and is on a 10,439 sq. ft. lot.
The home features original hardwood floors, a stone fireplace, laundry room, attached garage, stone driveway, solar panels, and central AC.
The backyard has a covered patio, wood decking, and a fenced-off pool.
Text me if you want a tour at 818-445-7953.
Housing affordability in the third quarter improved slightly from the prior quarter as mortgage rates remained low while prices began to level off.
24% percent of California households could afford to purchase the $814,580 median-priced home in the third quarter of 2021, up from 23% in second-quarter 2021 but down from 28% in third-quarter 2020.
A minimum annual income of $148,400 was needed to qualify for the purchase of a median-priced home in the latest quarter in the state.
With interest rates expected to rise and the state median price projected to climb further in 2022, the housing affordability condition will likely get worse in the coming year.
Source: California Association of Realtors.
Text me if you want a tour at 818-445-7953.
“Hot Home” alert in Studio City.
Asking price: $1,999,000
Mid Century Modern home - 4 bed/3 bath, 2,247 sq. ft. of living space, on a 7,996 sq. ft. lot.
The home features endless views from the 2 decks on the main floor and the private decks off every bedroom.
There are also high-end security doors, a camera system with an alarm, and low maintenance garden outdoors.
Text me if you want a tour at 818-445-7953.
“Hot Home” alert in Lake Balboa.
Asking price: $1,075,000
The main house and ADU have a combined 5 bed/3 bath, 2,338 sq. ft. of living space, and is on a 6,517 sq. ft. lot.
The home features an open floor plan, a laundry area in the bonus room, and an ADU that is ready to bring in rental income.
“Hot Home” alert for Valley Glen.
The asking price is $1,149,000.
This Storybook Charmer home has 4 bed/3 baths, 2,017 sq. ft. of living space, and is on a 29,809 sq. ft. lot.
The property features vaulted ceilings and hardwood flooring in the open concept living/dining room. There is also a new roof, recessed lighting, and a detached 2 car garage.
Text me if you want a tour at 818-445-7953.
This is Burbank's latest “Hot Home”.
Located in the Magnolia Park neighborhood, the asking price is $849,000.
The property has 3 bed/2 baths, 1,233 sq. ft. of living space and a 6,040 sq. ft. lot.
The home features recent improvements such as a new HVAC system, full attic insulation, and a new electrical panel with electric car charger capabilities.
Text me if you want a tour at 818-445-7953.
Thank you for entrusting me with another one of your real estate transactions!
It's always an honor working with you.
“Hot Home” alert in Glendale's private Chevy Chase Canyon!
•4 bedrooms
•4 bathrooms
•4,017 sq. ft. of living space
•15,568 sq. ft. lot
The home features a chef's kitchen with designer finishes, stainless steel appliances, a custom theater room, and a nice saltwater pool.
Text me if you want a tour at 818-445-7953.
