Happening Now: A Rush to Housing

From Matthew Boesler of the Business Insider: “Credit Suisse analyst Daniel Oppenheim states that ‘the breadth of strength in both pricing and traffic at the start of spring selling season’ is ‘unprecedented.’ Oppenheim says real estate agents are ‘widely citing increased buyer urgency due to the combination of persistent inventory shortages (driving prices higher) and signs of mortgage rates moving higher.'”

We can relate. Multiple bidders, all-cash offers — we’re seeing some heated competition in this market. But let’s all take a deep breath and slow down. As of today, mortgage rates are holding steady. So before you get swept up in any kind of stampede to the housing market, try the simpler and far less stressful approach of contacting Tracy Do Real Estate. We’re a team of well-connected, clear-thinking, highly experienced agents. We’ll sit down with you, listen to your goals and map a plan for getting the house you want. Head here to see what people are saying about us. Connect with us directly by email to tracy@tracydo.com, or by text to 323-842-4001.

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BIG & small HOUSE / Anonymous Architects

The “BIG & small HOUSE” was built last year by Anonymous Architects. Located in the Northeast LA enclave of Glassell Park, the approx. 1200 square foot home occupies a mere 2500 square foot lot. Says the Arch Daily: “Starting with a vacant lot that was half of the typical minimum lot size, the objective was to compensate for the relatively small footprint of the house.”

“To achieve this there are only two full height walls inside the house which makes the main interior room nearly as large as the building footprint. This gives the house an open lofted feeling with very high ceilings and abundant natural light.”

The Big & small House is delightful on a variety of levels, not the least of which are its overall subtlety and ingenious use of space. It also heralds the emergence of Glassell Park, a neighborhood where architects and designers are finding the space — and inspiration — to do wonderful things. With a prime location between Atwater Village, Eagle Rock, Mount Washington and Highland Park, “GP” is a rising star in real estate. But don’t wait too long. For assistance in either buying or selling in this fast-rising NELA enclave, contact the people who know it best: the experts at Tracy Do Real Estate.

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Photos and drawings courtesy of Anonymous Architects.

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January Prices ⇡

Today on HousingWire.com: “January national home prices, including distressed sales, rose 9.7% year-over-year.” Reporter Megan Hopkins adds, “With housing still 20% undervalued relative to incomes and 5% undervalued relative to rents, Capital Economics says affordability is also very favorable, with the typical household bringing in double the income necessary to service the interest and repay the capital of the typical mortgage.”

 

 

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2346 Echo Park Ave 90026

2346 Echo Park Ave 90026

Two Craftsman-style Homes on a lot in Echo Park!
Offered at: $775,000

Status: Sold
Type: Multi-Unit / 2 Units / Bedrooms: 3 / Baths: 3
Living Area: 2,120 Square Ft. / Lot Size: 7,970 Square Ft.

This fully restored, wonderfully maintained 1921 Craftsman-style Duplex is perched on a hilltop near the heart of Echo Park. Having starred on HGTV, it’s loaded with upgrades yet maintains its sense of history and Old World charm. The front house, renovated in 2006, has an inviting front porch and large “Chicago” style window which casts streams of natural light onto hardwood floors and period style built-ins. A gourmet kitchen with Viking 6-burner stove is set off by a backsplash of shimmering recycled glass tile, and includes plenty of storage. There’s central heat and air and room-by-room Surround Sound by a renown audio firm. The back house, a 2004 remodel, has an open floor plan with French doors leading to a secluded patio. A courtyard links these two residences, presenting the opportunity for an owner who wants income — or just a quiet place to work. Mature fruit trees shade the entire property and an elevated deck provides a stunning view of the nearby downtown skyline. Secluded and peaceful, this historic, modernized home is close to the action but feels very much apart. Both units delivered vacant. (Co-Listed with Jordan Nedeff).

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2346 Echo Park Avenue in Echo Park

This fully restored, wonderfully maintained 1921 Craftsman-style Duplex is perched on a hilltop near the heart of Echo Park. Having starred on HGTV, it’s loaded with modern upgrades yet maintains its sense of history and Old World charm. Offered exclusively by Tracy Do Real Estate in association with Jordan Nedeff of the John Aaroe Group.

For details and a photo tour head to 2346echopark.com

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Mortgage Rates Tick Down a Little

E. Scott Reckard reports in today’s LA Times: “Mortgage rates eased a bit early this week, Freddie Mac said, with 30-year fixed loans available for solid borrowers at an average 3.51%, down from 3.56% last week.”

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Beautiful Cottage in the Hollywood Hills

List Price $749,000

2 bedrooms • 1 bathroom

1,020 sf • 5,311 sf lot

This gorgeous little retreat in coveted upper Nichols Canyon was built in 1949 and has been completely redone by ModOps Design.

It features an open floor plan, high vaulted ceilings and a brick fireplace. There’s lots of light, treetop views, and generously-proportioned rooms. A big two car garage, too.

A home this size won’t work for everyone, but it’s exceptional in execution and offered at a price rare for the area. A nice opportunity. For a tour, contact Tracy Do Real Estate.

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Listing courtesy of Robert Kallick, Sotheby’s Int’l Realty, Los Feliz.

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FYI Quick Read…

From LA Times business and real estate reporter Alejandro Lazo: “Sales of newly built homes spiked nearly 16% in January, another indication of strong momentum in housing.” For the full story, click here.

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Housing Bubble? The Data Says, Nope

KPCC’s Matt Debord reports that rapid appreciation in certain neighborhoods has lead “some market observers to say that we’re dealing with a housing bubble… But that’s not really the story. There are some micro-bubbles. But if you look at the Case-Shiller home price index, it’s clear that, although prices have trended up steadily in LA County since the beginning of last year, the region isn’t seeing a price spike… where prices have surged by double-digits.”

 

Bubble or not, the best way to weather this real estate climate is by contacting the professionals at Tracy Do Real Estate. Years of experience and hundreds of successful transactions have given us a deep understanding of market dynamics. Whether you’re selling your home or looking to buy one, Tracy Do Real Estate will put you in the best position to succeed.

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Seeking Solutions for a Healthy Urban Future

As reported today by Irina Vinnitskaya in the Arch Daily, the American Institute of Architects (AIA) and Massachusetts Institute of Technology’s (MIT) have announced a research collaboration that focuses on improving the health of urban communities. “Seventy-percent of the world’s population is anticipated to be living in urban environments by 2050. The health challenges associated with urban environments… can be addressed through thoughtful planning and careful design that reconsiders the way cities have been designed in the past as new challenges arise.”

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