An article on Yahoo! today profiles 1755 N. New Hampshire in Los Feliz, and includes valuable insight from local housing expert Tracy Do of Tracy Do Real Estate.
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Today on HousingWire, Christina Mlyinski reports that “California home prices increased by the most in 33 years as a result of strong sales growth in higher-priced markets and continued housing supply shortage, pushing up median home prices in May.” It’s lead to whispers about another housing bubble, but as Megan Hopkins writes, not so fast. “Standard & Poor’s Ratings Services states that, although double-digit gains are ultimately unsustainable, we may not have reached bubble status quite yet.”
“Home price appreciation can be attributed to a number of factors, including historically low rates, property purchases by investors who are renting homes out and a shortage in home inventory… S&P states that U.S. home prices are relatively low compared to historical values… Additionally, housing remains undervalued about 8% based on the price-to-income ratio, which takes into account the median sales price of a home relative to median annual incomes…”
“Overall, S&P expects that the current pace of home prices gains will not last for long; however, it’s too soon to call this a bubble. In fact, as home values are still below their pre-recession peaks, home prices could continue to rise throughout the year.”
For help selling or buying your home in this active market, contact the people who have a successful track record and a long list of satisfied clients: the friendly, local professionals at Tracy Do Real Estate.
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2406silverridge.com
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Check out this article about our listing at 1755 New Hampshire, a tiny home with big upside (which quickly went into escrow). Thank you, Huffington Post!
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Exclusively from Tracy Do Real Estate. This 3-level contemporary in the Silver Lake Hills features walls of glass and balconies on every floor, opening to spectacular city views. Recently constructed in 2007 and recognized in numerous design publications, the 2 bedroom, 2.5 bathroom residence is dramatic yet practical, with well-proportioned living space and ample storage.
The hallway entry leads to a media room, complete with fireplace, built-in wet bar and a beautifully tiled half bath. An ideal spot for entertaining or relaxing, it’s versatile enough to be used as your guest quarters or office.
A slate stairway flows down to the “great room” where you’ll find dining and living areas adorned by a second fireplace. The gorgeous open kitchen is outfitted with stainless steel Bosch appliances and a built-in Miele espresso machine. A spacious bedroom on this level includes a full bath and walk-in shower. On the third level, the Master Suite feels private and luxurious, with a huge walk-in closet and bathroom worthy of a 5-star hotel.
Tasteful appointments and high grade materials are everywhere; bamboo floors, custom built-ins, resin glass sliding pantry doors, Venetian plaster, and recycled concrete in the kitchen and baths. There’s a carport for two vehicles with direct-home access, a laundry area, and a secure, 300+ sq ft basement/storage room.
For a beautiful, detailed photo tour head to 2406silverridge.com
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This home in San José del Rincón, Santa Fe, Argentina would be a great fit for Southern California. The single-level floor plan and integration of indoors-to-out strike us as being quintessentially LA.
Says the Arch Daily: “The house is designed as a series of sequences and promenades that are in permanent flow between the interior and exterior, intentionally created from the layout of the spaces, their design, the system of openings, and the importance of the interior courtyard due to its position as the true heart of the project.”
Photos courtesy of Federico Cairoli, blueprints by Estudio Puyol / Meinardy, Architects.
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The LA Times Alejandro Lazo reports that U.S. home prices climbed 12.1% in April. Low inventory remains an impetus, and the NY Times’ Nathaniel Popper points out that Wall Street is playing a not-so-minor role. “Large investment firms have spent billions of dollars over the last year buying homes… The influx has been so great, and the resulting price gains so big, that ordinary buyers are feeling squeezed out.”
It’s worth noting that this investor-backed buying spree has not been particularly prevalent in the greater LA area, where the number of foreclosures was small by national standards. However, we’re still feeling the effects. Popper continues, “While these investors have not touched many healthy real estate markets, they are among the biggest buyers in struggling areas of the country where housing prices have been increasing the fastest. Those gains, in turn, have been at the leading edge of rising home prices nationwide.”
For more information, and advice on how to stay ahead of this competitive market, contact Tracy Do Real Estate.
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