FYI Quick Read (x3)…

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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FYI Quick Read…

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.

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Pasadena Estate has Grace and Grandeur

List Price $5,800,000

7BDs/10BA in 8,148 sq. ft./lot size 153,324 sq. ft.

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.

To receive new listings by email, or to schedule a viewing click here!

Listing courtesy of Rita Whitney, Sotheby’s International Realty.

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FYI Quick Read…

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.

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Downtown Views from an Echo Park Traditional

List Price $799,000

2BDs/2.5BA in 1,610sq. ft./lot size 4,395 sq. ft.

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.

To receive new listings by email, or to schedule a viewing click here!

Listing courtesy of Darren Hubert, Blue Pacific Property.

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FYI Quick Read…

From the Wall Street Journal’s “Developments” blog comes a report on the declining number of for-sale homes, which matters because “falling inventories are a leading driver behind the recent rally in home prices, and… point to continued price-strength in many parts of the Western U.S.” I’ll say this again to any would-be sellers out there: it is a great time to list your home. If I don’t have a buyer for you, then someone else likely will. Call me anytime for a complimentary valuation of your property.

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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.

To receive new listings by email, or to schedule a viewing click here!

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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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.

To receive new listings by email, or to schedule a viewing click here!

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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