L.A. real estate news and insights.
Founder of Bird Scooters Travis VanderZanden sells his LA mansion at a BIG loss.
Original asking price: $24,995,000
Selling price: $10,775,000 – off market
This home has 6 bed/9 bath, over 10,000 sq. ft. of living space, and is on a 56,832 sq. ft. lot.
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.
This year's sales tally is 41% lower than during the pandemic boom two years ago.
Source: CoreLogic
Matthew Perry just bought this home in the Hollywood Hills in an off-market deal.
Asking price: $6M
Selling price: $5,250,000
This Mid-century modern home has 3 bed/4 bath, 2,566 sq. ft. of living space, and is on a 9,622 sq. ft. lot.
The newly renovated home is fully furnished, wired for sound throughout, and has an open floor plan, an eat-in kitchen, and Fleetwood sliding doors.
There is a pool and landscaped gardens outside.
NFL champ Darren Sproles buys Modern Farmhouse in Tarzana.
Asking price: $4,795,000
Selling price: $4,650,000
This Smart home has 5 bed/6.5 bath, 6,221 sq. ft. of living space, and is on an 18,453 sq. ft. lot.
The home features sliding glass doors that open to outdoor spaces, an entertainer's kitchen with an eat-in center island, and a home theatre.
Outside is an expansive yard with a pool & spa, detached guest house, gym, BBQ, custom concrete fire pit, and full sport court.
For the general location, in Google maps, put in "Saticoy St. and White Oak Ave."
Text me for more info at 818-445-7953.
This home has 3 bed/2 baths, over 1,700 sq. ft. of living space, and the lot is about 6,000 sq ft.
The European Villa-inspired home features cut-in mosaic tiles, hand-painted murals, 2 fireplaces in the living room, a chef's kitchen, and a bonus office with loft space.
The entertainer's backyard features a pool, a custom outdoor bar and kitchen, a fireplace, an outdoor movie theater, and a jacuzzi.
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.
Tomorrow the Federal Reserve will announce if they will or will not raise short-term rates. My prediction is that we will see them raise rates another 25 bases point: that’s a fancy way of saying .25 of 1%.
How do I know?
I have been tracking a market indicator called the Fed Funds Futures. That indicator shows what investors are betting on. It currently shows a 98% probability that we will see a 25 bases point raise... so I'm going with that.
Do you think they will raise the rates tomorrow?
This is the smallest home for sale in Echo Park.
Asking price: $799,000
This home has 1 bed/2 bath, 546 sq. ft. of living space, and is on a 1,625 sq. ft. lot.
This newly reimagined bungalow features, vaulted ceilings, an open concept floor plan, stainless steel appliances in the kitchen, and a large background deck.
Text me for more info at 818-445-7953.
This Queen Anne Victorian home has 7 bed/5 bath, 4,500 sq. ft. of living space, and is on a 21,716 sq. ft. lot.
This historic home was built in 1894 for the Burr Family.
Asking price: $1,900,000
Text me for more info at 818-445-7953.
A new study has found that home prices in Los Angeles are on the decline year-over-year.
In December 2022, the median price of a home in Los Angeles was $810,000; down $40,000 or 4.7% from December 2021.
That was the second largest decline in the study for all US cities, behind only San Francisco which saw a 5.1% decrease.
Considering rising interest rates, inflation, major layoffs, and recession fears, a 4.7% decline is not that bad.
Source: RE/MAX
Here is the cheapest home for sale this week in Valley Glen. Text me for more info at 818-445-7953.
Asking price: $839,000
This home has 3 bed/2 bath, 1,437 sq. ft. of living space, and is on a 5,500 sq. ft. lot.
This is the first time this property has been on the market in 60 years!
This fixer-upper features beamed ceilings, a family room, an enclosed sunroom, a laundry room, 2 car garage, and a private backyard.
This home is known as "Domestead", a one-of-a-kind dome-shaped home in Glassell Park.
With panoramic city and mountain views, 1 bed/2 bath, and 1,787 sq. ft. of living space on a 10,869 sq. ft. lot, this is, in my opinion, the most unique home for sale in Glassell Park.
Asking price: $1,725,000
Designed by Los Angeles architect William King.
Text me for more info at 818-445-7953.
Despite the sharp increase in December, recent housing data has indicated that rents have begun to fall: Realtor.com®, for example, reports that rents have dropped in many of the nation’s hottest real estate markets after rising more than 20% over the past three years.
Also, robust apartment construction likely will raise rental vacancy rates, which could help further ease rental prices in the months ahead.
Source: The National Association of REALTORS®
