Marc Andreessen breaks Jeff Bezo's record of purchasing the MOST EXPENSIVE home in CA!

Billionaire Marc Andreessen just paid a record-breaking amount for this Malibu Compound.

Original Asking price: $250,000,000

Selling price: $177,000,000

It sold for $12 million more than the earlier record set last year by Jeff Bezos in Beverly Hills.

The main house is about 10,000 sq. ft. of living space and sits on 7 acres of land.

Located in the Paradise Cove section of Malibu, the home offers panoramic ocean views.

The compound reportedly features 13 structures, including a detached screening room, multiple guesthouses, 2 barns converted into a car collectors’ garage, and a pool with a cabana.

Watch the video to figure who is selling this MASSIVE Beverly Hills home for $85 million!!

Here is the most expensive home for sale this week in Beverly Hills - $85,000,000.

This Celebrity Contemporary Mediterranean Compound has a total of 8 beds/12 baths, 18,587 sq. ft. of living spaces, and is on 3.5 acres.

The main house features a 2-story foyer, an office, massive kitchen, screening room, gym, cigar room & a custom bar.

The grounds have sprawling lawns, patios, a putting green, infinity pool & spa.

There is also a guest house, an 8-car garage, and an art studio.

Text me if you want a tour at 818-445-7953.

Tight lending blocks some would-be home buyers

Not everyone is able to take advantage of all-time-low mortgage rates.

Available housing credit has reached its lowest level since February 2014, Bloomberg News reports.

In January 2019, 44% of Ginnie Mae’s purchase loans were granted to borrowers who had FICO scores below 700 and debt-to-income ratios of more than 40%.

However, a year later, Ginnie Mae granted just 38% of borrowers loans with FICO scores below 700.

And in August, that dropped to 36%, according to data from the Urban Institute.

Ginnie Mae guarantees loans that are popular with first-time home buyers and lower-income borrowers.

Overall, an index of housing credit produced by the Mortgage Bankers Association shows that the availability of loans has dropped eight out of nine months so far this year.

MBA’s index has fallen 35% year over year.

What does the most expensive home sold in Los Angeles this week look like? See here!

Would you like to have the whole 2nd floor of your home dedicated entirely to your master suite?

This Hollywood Hills retreat is the most expensive home to sell this week in Los Angeles.

•5 bedrooms

•5 bathrooms

•5,696 sq. ft. of living space

•41,010 sq. ft. lot

•Gated compound

•Guest house

•Pool

Asking price: $6,500,000

Selling price: $6,125,000

Fall in love with this unique, historic Hollywood home. Put in an offer now!

This beautiful, historic 1920's townhouse is selling for $899,998.

The "El Cabrillo" condominium complex is one of six remaining Spanish revival courtyard buildings.

The courtyard has been featured in both television and movies.

This 1 bedroom, 1 bath townhouse is in the heart of Hollywood.

It is within walking distance of the Hollywood Bowl, several theaters, restaurants, clubs, and more.

The ugly truth about the cheapest home to hit the Burbank market this week

This completely remodeled home is the cheapest property to hit the market this week in Burbank.

Located on Clybourn Ave. this 3 bed, 2 bath single-family home is listed for $779,000.

What remodeling would you do to this South of Ventura Blvd home?

It's by far my favorite property to sell this week in Studio City.

I can let you know what sold in your neighborhood... text me at 818-445-7953 and I will email you a report.

Instagram: @daniellosangeles

Short Sales Vs. Foreclosures

Both a short sale and a foreclosure will severely damage your credit score.

keep that in mind before you go down either road.

What kind of info has been made public about your house?

Want me to email you a copy of your public tax records?

Direct message/email me your address and I will email the records back to you.

Daniel@ContempoRealtors.com

If your home buyer refuses to remove their contingencies, cancel escrow immediately

If your home buyers are not removing their contingencies, they are not serious buyers.
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Drop them as soon as possible and make sure your agent puts your home as "Active" again on the MLS.

Hire an agent that will provide a marketing video for your home... or sell your home for less money. Your choice.

If your agent does not provide you with a marketing video for your for sale property, you will leave money on the table.
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Period.
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End of story.
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I know for a fact that our marketing videos get thousands of views. Why would you want to miss out on thousands of views?
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If you want top dollar for your property, hire an agent that provides this service.

Drone shots should only be a small part of your home's marketing video

Use a drone shot to introduce your viewers to the outside of the home.

But don't linger too long... you will lose your audience.

Get to the good stuff quickly, show the kitchen and bathrooms as soon as possible.

Can I sell a house that is being rented out and has tenants living there?

You will get more money for your property if you deliver it vacant upon sale.

If a home buyer has to inherit your tenants, you will not get top dollar

If you have tenants living at your property, and you plan on selling, it's time to give them a 60 day notice to move.
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If you don't want to do that, keep in mind only investors will be making offers on your property.
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That cuts your potential buyer pool from 100% of the market, down to 20%.
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Having less buyers for your property means you will not be getting the top dollar competition demands.