L.A. real estate news and insights.
Redone in reclaimed wood sourced from a Montana barn, you have this beautiful Valley Village home that just sold.
•5 bedrooms
•5 bathrooms
•3,920 sq. ft. of living space
•7,956 sq. ft. lot
The property features a gourmet kitchen, wine cellar, pool, spa, and outdoor cabana with fireplace.
Asking price: $2,845,000
Selling price: $2,750,000
Here is your latest "Hot Home" alert: Asking price: $850,000
•2,241 sq. ft. of living space
•10,347 sq. ft. lot
•5 bedrooms
•3 bathrooms
Built in 1957 this updated home has a nice pool and solar panels to help out with the electrical bill.
Text me if you want a private tour at 818-445-7953.
This Encino home has been on the market for 311 days.
I would think a price drop would be coming soon.
A good strategy would be to come in with a lower offer now before they drop the price and start getting offers from other buyers.
•5 bedrooms
•8 bathrooms
•6,560 sq. ft. of living space
•22,274 sq. ft. lot
•Pool & spa
Asking price $2,999,000
Text me if you want a tour 818-445-7953.
Construction of new U.S. homes surged 22.6% last month as homebuilders bounced back from a lull induced by the coronavirus pandemic.
The Commerce Department reported Tuesday that new homes were started at an annual pace of nearly 1.5 million in July, highest since February and well above what economists were expecting.
Housing starts have now risen three straight months after plunging in March and April as the virus outbreak paralyzed the American economy.
Last month’s pace of construction was 23.4% above July 2019’s.
Source: Los Angeles Daily News
Why do you think this home isn't selling?
•5 bedrooms
•5 bathrooms
•4,424 sq. ft. of living space
•17,311 sq ft lot
Asking price: $1,945,000.
The National Association of Realtors reports that older millennials, between the ages of 29-38, hold 26% of the home-buying real estate market share.
The second-largest group are the Gen Xers who hold 24% of the market share.
Did you know that when you buy a home, you don't have to put the title of the property in your name?
If you have a living trust set up, you can buy the home under the name of the trust.
For example, if the name of your #trust is "Banana Family Trust", and you buy the home under your trust, the owner’s name on the title will appear as "Banana Family Trust" and not your legal name.
This also works if you buy the home under a #LLC.
Use this hack if you want to keep the purchase of your home a secret.
On this episode, I answer the following four real estate questions:
1) At what point during the year are home sales usually the slowest?
2) Now that we found a buyer for my home and we are in escrow, is it safe for us to start moving out?
3) A lot of the homes I am touring are selling for more than the list price. How am I supposed to buy a property if everything I am interested in keeps selling over the asking price?
4) I do not want to spend a dime on staging my home. What other options are out there to make my home look more attractive to buyers?
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Echo Park has really changed over the years.
Back in the day, Echo Park was not exactly the safest neighborhood to be in.
But now it's filled with beautiful homes that demand a high price tag.
This charming “Treehouse” vertical cottage built-in 1926 makes the most of its limited space.
Has 1 bed, 1 bath on main floor and a bonus space downstairs w/ separate entrance plus a finished attic.
This home is currently on the market and is asking $819,000.
One in five U.S. homeowners say they feel house rich but cash poor, according to the newly released Hometap Homeownership Study.
With home prices continuing to climb up, nearly 20% of 675 homeowners surveyed classify themselves as feeling “house rich, cash poor” most of the time, according to the study produced by Hometap.
Seventy-three percent of respondents say they feel “house rich, cash poor” at least some of the time.
I bet if they surveyed renters they would find similar numbers.
I believe we all face similar challenges.
After all, I think being worried about how you are going to provide shelter and food for your family is a feeling all humans have had since the cavemen times. @hometap_
I highly recommend doing a standard recording.
In that case, you don't have to do anything!
You are simply waiting for a call from your agent to tell you that you now officially own the property.
A special recording should only really be used in an absolute must circumstance.
Unless it's a must, it won't kill you to wait the extra day to close escrow.
Under normal circumstances, you do not close escrow the same day your lender funds your mortgage loan.
You would normally close the day after the loan money is sent to the escrow company.
However, I have come across certain circumstances where the buyer of a property has to close as soon as possible and needs to close the same day the lender funds the loan.
In that case, you can do a "special recording". This requires a little more work on the buyer’s part.
As the buyer, you have to go down to the county recorder's office, wait in line, fill out some paperwork, then get the special recording completed.
It's actually a really big pain in the neck!
But, if you are in a hurry to close escrow, a special recording is available to you.
If you are a buyer, the best strategy is to close escrow on any day Tuesday - Friday.
For example, have the lender fund your mortgage loan on Monday, close on Tuesday.
Or have the loan fund on Thursday, close on Friday.
Avoid having the lender fund on Friday, pay interest on the loan over the weekend, then close escrow on Monday.
There is no point to pay interest over the weekend on a home you technically don't own yet!
You usually don't close escrow the same day your lender funds your mortgage loan.
Normally the lender funds the loan, then you close escrow the next day.
Also, keep in mind you can't close escrow over the weekend, the county recorder office is closed.
Therefore, if you are scheduled to close escrow on a Monday, the lender must fund the loan the Friday before.
This should be avoided if possible. Why?
Because once the loan is funded, you start to pay interest on that loan.
It's not the best idea to pay interest on a home you technically do not own yet (it's not your home until you close escrow on Monday).
The best thing to do would be to wait and have the lender fund the loan on Monday, then close escrow on Tuesday.
That way you are not wasting money and putting more money into your lender's pockets.
Your friend told you they were thinking of selling their home.
What do I have to do for you to refer me to that friend?
Text me at 818-445-7953.
Thank you!
