Buy vs. Rent Revisited

Last month I posted a NY Times article about the math of buying vs. renting (8/20). Well Trulia.com reports that for many people it’s 32% cheaper to buy than to rent in Los Angeles. Read the full article here, and after you do — call me. My top-shelf services come without any cost to homebuyers, so you’re not just going to love the house I find for you. Your bank account will love me, too.

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Map graphic courtesy of Trulia.com.

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FYI Quick Read…

There’s a story on cnbc.com today about the government’s new stimulus package. Jeff Cox reports that the Fed “will buy $40 billion of mortgage-backed securities per month in an attempt to foster a nascent recovery in the real estate market.” I doubt that this will have a huge impact locally, since our housing engine is already running ahead of the national pack. But I do see significance in the bigger real estate picture.

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Friday/funny

He’s back. Hapless tv/radio host Alan Partridge (Steve Coogan) has fallen for a house, and makes an offer. However, his negotiating skills aren’t what you’d call sharp. Next time hire a realtor, Alan. It’s what we do. Click image to see the clip.

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Clip from “I’m Alan Partridge” courtesy of TalkBack Productions and the BBC.

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Stately Georgian in Pasadena

List Price $1,699,000

4BDs/3.25BA in 3,509sq. ft./lot size 13,049 sq. ft.

I previewed this property today and it’s magnificent, an updated two-story Colonial built in 1935.

That’s a new, wide-open kitchen to go along with remodeled bathrooms and modernized systems. A bonus is that the utilities for this home are buried underground. No unsightly wires to deal with, and nothing to obstruct your stunning views of the San Gabriel Mountains.

Talk about indoor-outdoor flow, this house has it. Get in touch with me here and let’s go take a look.

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Listing courtesy of Maggie Navarro, Teles Properties.

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FYI Quick Read (x2)…

It’s the LA Times again, with even more good news for local homeowners — especially those of you who have been thinking about selling. Alejandro Lazo writes today that “home sales in Southern California hit their highest level for an August in six years last month, and the median price for a home in the region rose to a four-year high.” Full article here.

Dataquick reports the story with deeper analysis. For my buyers, I urge you to consider that any good deals out there are going fast. Get in touch with me asap so we can get ahead of this market.

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Newly Built Modern in Silver Lake

List Price $799,000

3BDs/2.5BA in 1,790sq. ft./lot size 3419 sq. ft.

I previewed this house yesterday, love it. A brand new and well-thought-out modern right in the middle of the action, which is not for everyone obviously. But if you’re looking for a place that allows you to walk to things, you’ve found it. Sunset Junction, Hillhurst, the reservoir, all a stones throw away.

Bedrooms are up, living and dining are down and the finishes are just right.

I particularly like the placement of the windows and sliding glass doors in this home, giving choice vistas of trees and city lights in what is actually a quite urban setting. There’s even a little yard too, perfect for entertaining. If you want to see this house, get in touch with me asap. New homes are hard to find in general — and when they’re this cool? Likely to move quickly.

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Listing courtesy of Dana Frank, Rodeo Realty

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FYI Quick Read…

The LA Times’ Alejandro Lazo reports this morning that “the number of underwater borrowers in the U.S. is continuing to decline as home prices improve, meaning one of the most stubborn roadblocks to the housing market’s recovery is slowly lifting.”

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FYI Quick Read…

A follow-up to my recent post about the shrinking “distressed share” (9/5). Alejandro Lazo of the LA Times reports that “a San Diego real estate investment firm has won an auction of nearly 700 homes owned by Fannie Mae in Florida.” How does this impact our local market? Because banks like Fannie are national entities. As they shed bad assets, mortgage lenders will seek to replenish that business in greener pastures like LA County, where the market is already well into its turnaround.

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Thank You, Curbed LA!

I love Curbed LA and love them even more when they scoop my listings. Granted, “Unabomber Shack” might not be my first choice of words, but no complaints. I sold 5341 Hilltop Road in Eagle Rock very quickly for over its asking price, and am now entertaining backup offers. Thank you buyers for showing enthusiasm for this fixer house — and thank you Curbed LA!

 

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Hollywood Hills Post & Beam is a Work of Art

List Price $1,399,000

3BDs/3BA in 2,500sq. ft./lot size 19,220 sq. ft.

It was a pleasure to attend a twilight BBQ last night, my chance to preview the latest work from my friends at the talented design/build firm ReInhabit. I’m so enthusiastic about what they’re doing, this latest project an example of fresh thinking, understated elegance — I can only describe it as art. Yet at the same time it feels comfortable, livable. Every bit a home.

The house has a great layout, with massive windows and finish work that you have to see to fully appreciate. From floor to ceiling, bathrooms to kitchen, there are cool and well-thought-out details, showing quality and passion that are a ReInhabit trademark.

We stood on the patio as night fell, watching a blanket of lights shimmer from the Valley to the Griffith Park Observatory and beyond. Breathtaking. More info and pictures of the house can be found here. My understanding is they might already have a deal in place, so best to hurry on this one. I’d love to show it to you so get in touch with me here.

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Listing courtesy of Cary Goldstone, House Network

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