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!

 

This entry was posted in: Deals

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.

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

Listing courtesy of Cary Goldstone, House Network

This entry was posted in: Deals

FYI Quick Read…

E. Scott Reckard of the LA Times reports that “the latest frenzy of mortgage refinancings has benefited millions of Americans.” But he also points out that many haven’t done all they can to secure the very best rate. I work with mortgage brokers almost every day. If you need advice on your loan, refi or any other matters related to your home, don’t hesitate to get in touch. I’m happy to assist you in any way I can.

This entry was posted in: Deals

5341 Hilltop Road in Eagle Rock

List Price $399,000

3BDs/2BA on 13,653 sq. ft. lot

Here’s my new listing. Located in a great part of Eagle Rock, it sold before hitting the MLS. I am, however, seeking backup offers for this project house that’s primed and ready for rehab. If you’re out looking tomorrow be sure to stop by my open house, anytime from 2-5 PM. I’d love to meet you and can also tell you about some other opportunities I have coming up.

For complete info on 5341 Hilltop Road, click here.

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

This entry was posted in: Deals

An Inside Scoop in Los Feliz…

I was called in for a price opinion today, so heads-up to anyone interested in a gorgeous traditional three-level in the Franklin Hills. It has 4 well-proportioned bedrooms, 3.5 baths in just under 3K sq. feet. Remodeled kitchen, nice yard. Expect a price north of a million (we’ll see how north) and in any case this home is likely to sell quickly. If you want to be among the first to get in, contact me here.

 

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

Los Feliz map courtesy of Pendersleigh & Sons Cartography and 1650gallery.com

This entry was posted in: Deals

You Should Know: Distressed Share

Where are all the bargains, anyway? I get asked that question a lot, usually by my buyers who are looking for a deal — and who wouldn’t be? Everyone wants to pay less for their house, and if there’s a bargain out there believe me I’ll find it for you. But the opportunities these days are precious and few, and when they do pop up a bidding war is the frequent result. Bye-bye bargain.

So what happened? Where’s the “shadow inventory” of foreclosed homes that banks were supposedly sitting on, just waiting for the right time to flood the market? The answer varies by region, but here in LA County, thousands of foreclosed properties have already been packaged by banks and quietly sold off to institutional investors. Read this informative article by the Wall Street Journal’s Nick Timiraos. He talks about the downward-shifting ratio of the “distressed share,” ie. the percentage of bank-owned or bank-involved properties like foreclosures and short sales. The smaller that number gets, the healthier the market. But bargains, it seems, will only get harder to find.

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

Photo of an unfinished housing development courtesy of Boston.com and Google Earth

This entry was posted in: Deals

FYI Quick Read (x2)…

Tiffany Hsu of the LA Times reports today that home prices were up 3.8% in July, their largest year-over-year leap since 2006. “The real estate market is ‘clearly seeing the light at the end of a very long tunnel,’ said CoreLogic Chief Executive Anand Nallathambi.”

 

And Vickie Elmer of the NY Times writes that, with interest rates remaining so low, homeowners have been trading out of their “jumbo” mortgages to refinance into conventional loans. “‘It’s an opportunity not to be missed,’ said Melissa Cohn, the chief executive of the Manhattan Mortgage Company, adding that her customers like the idea of locking in a lower rate.”


This entry was posted in: Deals

A Home or Art?

That’s the question posed in an article by James B. Stewart, published yesterday in the NY Times. “If it’s $100 million, is it art?” We’ve seen these stratospheric prices attached to certain unique properties in places like LA, Miami, NYC. So what’s the answer? I can only speak from my own experience: a home is worth what someone is willing to pay for it.

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

Photo courtesy of the New York Times

This entry was posted in: Deals

Mid-Century Post and Beam in Glendale

List Price $620,000

3BDs/1.75BA in 1,776sq. ft./lot size 7,206 sq. ft.

I like the lines on this 1964 home — and like the value, too. It’s on a nice street in the Rossmoyne / Verdugo Woodlands neighborhood. That’s a wraparound deck outside, featuring excellent views.

Open-beam ceilings are common in this style of home, and wow do they look great.

And get this: around back there are not one but two two-car garages. Convert one to a studio, guest house or office? Could be. Get in touch with me here and we’ll go take a look, see if this mid-century post and beam home is right for you.

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

Listing courtesy of Herbert Lambert, Rodeo Realty

This entry was posted in: Deals

FYI Quick Read…

An article in the LA Times this morning by Jim Puzzanghera illustrates that U.S. home prices rose 2.3% in June in the nation’s largest cities — the fourth straight monthly increase. “We seem to be witnessing exactly what we needed for a sustained recovery: monthly increases coupled with improving annual rates of change,” said David M. Blitzer, chair of the index committee at S&P Dow Jones Indices. “The market may have finally turned around.”

This entry was posted in: Deals