From a housingwire.com article by Jacob Gaffney: Morgan Stanley Declares Housing Out of the Woods. “We expect to see 2012 end with an increase of 7-9% for the year in aggregate home prices after considering seasonality effects for the remainder of the year, with the possibility of a 10-12% increase on the bullish side and a 4-6% increase as the bear case,” write analysts in the latest Housing Markets Insight report. ” We view the bear case outcome to be relatively less likely.”
Buyers from Mainland China have long coveted LA County real estate, and in the San Gabriel Valley’s small but stately jewel of San Marino, competition for prime property is particularly fierce. KPCC’s Alex Cohen and A. Martinez recently talked with the BBC’s Rajesh Mirchandani, who reports that for Pasadena’s neighbor, 90 percent of home sales go to Chinese buyers who typically pay in cash. Click here to listen, and find out how this trend is turning up the heat on an already-robust housing market.
It’s a special week when one of Pasadena’s grand estates is brought to market, and even more so when it happens twice. (See most post dated 9/20). The scope and elegance of this property are hard to describe, much less photograph. Suffice it to say that it has everything, all tastefully updated with exquisite care.
The first floor features a grand foyer, sunroom, formal dining room, butler’s pantry, huge chef’s kitchen, family room, library and two powder rooms. The second floor has a master bedroom with fireplace (one of six), a huge dressing room/closet, exercise room, five additional bedrooms and a laundry room. The third floor hosts the immense game room, a fireplace, plus extra attic storage.
On the sweeping, private grounds you’ll find a 2 bed, 1 bath guesthouse with kitchen and living room, totaling nearly 1,000 sq. ft. Above the three-car garage there’s a bonus room, a workshop and a changing room with bath. The outdoor kitchen and patio area feature a brick pizza oven and this glorious, secluded pool.
But really, you have to see this place in person to understand how remarkable it is. Contact me here for an appointment.
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Listing courtesy of Barbara Rogers, Coldwell Banker.
I previewed this property today and was very impressed. Located close to Old Town Pasadena, it’s a westward facing upper unit in a small, quiet complex vintage 1936.
At over 1,300 sq. feet this condo has the space of a small home, and the rooms are well-proportioned. Pretty much everything has been updated, with a designer’s touch to boot.
One advantage to condo living is there’s no yard to take care of. But you get to use this fabulous pool anytime you want. If you’d like to go take a look, contact me here.
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Listing courtesy of Michele Downing, Sotheby’s International Realty.
By 180° I mean the view — it’s absolutely spectacular. The house is great, too. Located at the top of the coveted Oaks neighborhood of Los Feliz, this two-level modern was built in 1978 and needs some work. But as you can see in these photos, the potential is huge.
15 foot ceilings and an open floor plan are complimented by polished concrete floors and a seamless indoor-outdoor flow.
Can you imagine owning this view? I’d love to show it to you, so give me a call and let’s go take a look.
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Listing courtesy of Dorothy Carter, Keller Williams Los Feliz.
Lots of good news about housing today. Chris Isidore of CNN Money reports that “according to the closely watched S&P/Case-Shiller national home price index… the typical home price in July rose 1.6% compared to the previous month.” It’s a return to 2003 levels…
Which, according to a New York Times article by Shaila Dewan, is most apparent at the lower end of the housing scale. “’It’s less that the top tier is cooling than that the bottom tier is strengthening,’” said Stan Humphries, the chief economist at Zillow. “’The bulk of the recovery is due to the changes in the bottom and middle tiers.’”
Finally, Jim Puzzanghera of our local LA Times informs us that “home prices in the nation’s largest cities rose 1.6% in July to their highest level in nearly two years… adding to recent data showing the housing market finally has begun its rebound from the deep recession.”
Taken together, what does it all mean? A good time to sell your home just got even better. For a complimentary valuation of your property, contact me here.
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New York, Boston, San Francisco — is LA next? I’m talking about “micro studios,” tiny apartments that are between 200 and 300 sq. feet including the bathroom. Read about it in today’s LA Times.
The term “estate” is used liberally in my trade, at times it seems like any big house behind a gate qualifies. But today I saw the real thing. Sitting on three-and-a-half acres in Pasadena’s coveted Arroyo District is a home that took my breath away. Amazingly, when I compare it to homes of similar scale and execution (a rarity in and of itself) this spectacular property is actually a very good value.
Floor to ceiling leaded glass windows, five fireplaces (including some in bedrooms), redwood wall paneling, a carriage house with living quarters — and we’re just getting started. There’s also a pool, tennis pavilion, spring house with water well, rose garden, sport court, covered parking for five cars…
And all the privacy that you and your family will ever need. A rare find, this home, and special too. If you’d like to go see it, call me and I’ll book an appointment.
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Listing courtesy of Rita Whitney, Sotheby’s International Realty.
Good news for buyers. Inman reports today that recent moves by the Fed have pushed interest rates to record lows — yet again. “Rates on 30-year fixed-rate mortgages averaged 3.49 percent with an average 0.6 point for the week ending Sept. 20, down from 3.55 percent last week and 4.09 percent a year ago… That matches an all-time low in Freddie Mac records dating to 1971.” To get started on your home search, contact me here.
I previewed this home yesterday, a split-level circa 1938 on a tree-lined one-way street.
A wood-burning fireplace, gorgeous floors and plenty of natural light create wonderful ambience. There’s a private yard and garden-level guest studio. The garage is a finished workspace.
And just look at that view. Better yet imagine seeing it at twilight, in person. Contact me here.
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Listing courtesy of Darren Hubert, Blue Pacific Property.