L.A. real estate news and insights.
Here is the most expensive home sold this week in Burbank.
Asking price: $2,269,000
Selling price: $2,150,000
This custom-built Craftsman has 4 bed/5 bath, 3,581 sq. ft. of living space, and is on a 7,020 sq. ft. lot.
The completely rebuilt home features a finished basement, an eat-in kitchen with a custom island, a formal dining room, and the living room has a fireplace and wet bar.
The private backyard has a patio, and a recently renovated BBQ area featuring a high-end grill and brick oven.
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.
Americans are increasingly turning to Google to find answers to their housing questions.
The phrase “When is the housing market going to crash?” has surged in Google searches by 2,450% in the past month.
Consumers are also searching for information about “Why is the market so hot?”—doubling in the last week—and “How much over asking price should I offer on a home in 2021?” which increased by 350% in Google searches that week.
Foreclosures and short sales represented less than 1% of sales in January, equal to December's percentage, but down from 2% in January 2020.
This beautiful Valley Village home is for sale at $1,425,000.
It has been deemed a "hot home", which means a lot of people are viewing this home online and marking it as one of the "favorites".
It will sell quickly.
Text me if you want a private tour at 818-445-7953.
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.
Do this strategy if your lender runs your credit and says your credit score is too low to get a home loan.
Was your home professionally cleaned just hours before you officially accepted a buyers offer on your home?
If so, make sure to get your home professionally cleaned right before you deliver your sold home to that new buyer.
Was your home in need of a deep clean at the time the buyer’s offer was accepted? Good!
No need to get a professional cleaning company to come out and clean the home.
The point here is to deliver the home to the buyer in substantially the same condition that it was in when you accepted the buyer’s offer to purchase your home.
