Condos Gain Traction with New Buyers

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A recent LA Times article discusses the sea change taking place, as increasing numbers of first-time buyers purchase condominiums instead of detached homes. It’s all about the numbers, and the Times’ Andrew Khouri spells it out plainly: “For many, condos are the only affordable path to homeownership in urban areas near jobs, cafes and boutiques.”

Richard Green, director of USC’s Lusk Center for Real Estate puts it this way: “People who a year ago could afford houses can’t. But they can afford condos.”

To us this represents a very positive trend, proof that a new generation of home buyers understands the benefits of ownership over paying rent. Condos don’t have to mean compromise, in fact for some people the “lock the door and leave” lifestyle is an ideal fit. There’s less to worry about, less maintenance, and the density of condo communities makes them more earth-friendly than a typical suburban house.

Proudly, we are representing 52 beautiful, modern condominiums that will soon be for sale in the fast-rising Eastside enclave of Glassell Park. NELA Union homes have so much to offer, with versatile 3-level floor plans, attached 2-car garages and energy efficient building elements and appliances. Bright, spacious and contemporary, these homes look absolutely great. And they’re priced in a range that many people will be able to afford, starting in the mid/high $400,000’s, up to the low $600,000’s for a prime-located 4-bedroom home.

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Head to nelaunion.com to see what this new community of townhome-style condominiums is all about. While you’re at it, check us out on Facebook and Instagram, too. If you have any questions, be sure to get in touch with us at Tracy Do Real Estate, or send an email to info@nelaunion.com.

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2052 Mayview Dr. in Los Feliz

Offered for Lease at $5,500/mo.

3 bedrooms • 2.5 bathrooms

2,372 sf • 16,349 sf lot

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Exclusively from Tracy Do Real Estate comes architect Dick E. Lowry’s own Los Feliz Hills home, now available for lease.

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The post and beam design includes walls of glass and clerestory windows making for spectacular views of the hillside. Large open living spaces include three bedrooms, two and a half bathrooms, a formal living room, dining room and a den in the main house. There is also a guest studio above the garage that includes a bathroom.

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The deck and terraced yard offer plenty of space for hanging out, entertaining — to say nothing of the spectacular views. The home features a two car garage and plenty of off-street parking.

To tour this home for lease, contact Tracy Do Real Estate.

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Why Buy? Because Local Rents are Way Up

Today’s LA Times features an Andrew Khouri report stating that “rents increased at a slower pace in the third quarter, although that’s not much relief for tenants now paying, on average, nearly 6% more than they did before the recession.” That’s a lot!

No doubt, renting is a fact of life and makes perfect sense for some people. But as costs rise, with no relief in sight, and while mortgage interest rates continue to hover near historic lows, you might be asking yourself… is it time to buy?

Consider this great opportunity in home ownership, an exclusive offering from Tracy Do Real Estate: NELA Union in Glassell Park.

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Set within beautifully landscaped grounds that include a community garden and dog run, these 2, 3 and 4 bedroom residences have open floor plans that can be fully customized in the onsite design lab. Each has a private two-car garage and features sustainable elements like tankless water heaters, high efficiency furnaces and radiant roof barriers. Best of all these stylish, energy-smart homes will be offered at a cost comparable to paying rent. Prices start in the high $400,000’s. That’s for a brand new three-level home that even comes with a one-year warranty.

Learn more and check out the cool floor plans at nelaunion.com.

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NOMAD Micro Home is the Detached Studio You Always Wanted

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We’re big fans of prefabricated homes and sheds. The drawback, for some of them at least, is the issue of practicality. If the cost to buy and assemble such a unit on a suitably-graded piece of land is directly comparable to the cost of simply designing and building it in place, then… what’s the point?

Here’s a prefab that’s different and strikes us being highly practical, too. It’s a “flat-pack” micro home that’s currently seeking crowd-sourced funding for launch. We hope it succeeds because the dwelling, designed by NOMAD of Canada, is simple, unfussy, and will offer excellent bang for the buck.

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Adam Williams of Gizmag reports that the proposed base model, estimated to cost around $25K, would include “kitchen cabinets, shelving, plenty of storage space, laminate flooring, lighting, and prewired electrical outlets. Shelling out more cash brings additions like a solar power system, grey water treatment and rainwater collection, while a wooden deck can also be added to offer some additional outdoor space.”

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You could buy a piece of land, put this house on it and you’re in business — it’s a complete residence. However to us, the most intriguing factor is that you don’t need a lot of flat backyard space to make this your office/studio + guest room. And who couldn’t use one of those?

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For more info head to Gizmag and watch a video about the NOMAD Micro Home, or check out the NOMAD Canada website here. Funding for this project is being sought on Indiegogo, meaning you can actually be part of this exciting project.

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420 S. San Pedro Unit 612 in DTLA

List Price $549,000

1280 square foot one-bathroom loft

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Exclusively from Tracy Do Real Estate comes an opportunity to purchase this super cool living environment, the home of a key player in an iconic rock n’ roll band. This penthouse corner unit of the Little Tokyo lofts is the residence of Go-Go’s guitarist/songwriter Jane Wiedlin. It puts you in the heart of Downtown LA with generous living space, soaring ceilings and massive windows.

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Custom upgrades are found the moment you open the front door, starting with the spacious kitchen that features blasts of color, “space age” vintage wallpaper and loads of storage.

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The character-rich home is highlighted by columns, gorgeous hardwood floors and a working wood fireplace finished with river pebbles.

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Here’s the sleeping loft. Beneath it, sliding Shoji Screens conceal a huge walk-in closet, big enough to double as a guest bedroom — or simply use it for your clothing and gear.

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Daylight showers the loft in sunshine, while night brings this panoramic curtain of shimmering city lights.

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Amenities in this centrally located pet-friendly building include a pool with adjacent BBQ and gardening area, spa, spacious enclosed dog run, and fully-equipped fitness room. The unit includes two parking spaces and there is plenty of additional parking for your guests in the secure, gated garage.

More gorgeous photos can be found at 420sanpedro.com.

Showings are by appointment only, please contact Tracy Do Real Estate.

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3666 Mimosa Drive in Glassell Park

List Price $599,000

3 bedrooms • 2 bathrooms

1,194 sf • 5,066 sf lot

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Exclusively from Tracy Do Real Estate comes this newly renovated home that is understated and beautifully appointed. On a corner-lot promontory above a quiet cul-de-sac street in Glassell Park, the residence is splashed by sunlight and surrounded by a wraparound yard.

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Three bedrooms and two full baths provide space and an ideal floor plan, with sliding glass doors making it easy to be inside or out. The newly-poured patio off the living room features a trellis and concrete bench, creating an indoor-outdoor space to entertain groups of any size.

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The open kitchen features Caesarstone countertops, Cararra Marble tile backsplash and a recently-installed appliance suite. Upgrades include refinished wood floors, recessed lighting, electric main panel, foundation improvements, central heat and air.

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Here’s one of the three light-filled bedrooms.

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Upper and lower terraces present decomposed granite and the shade of orange and persimmon trees. There’s ample storage in the many closets and built-ins, as well as in the spacious two-car garage.

A full photo tour can be found at 3666mimosa.com.

For a private tour, contact Tracy Do Real Estate.

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Mortgage Rates Drop Again

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It’s good news for home buyers, who might have been jittery a few weeks back when interest rates spiked upward (though they were still pretty low!) E. Scott Reckard of the LA Times writes, “Here’s one clear effect of the  government shutdown: Mortgage rates have tumbled to their lowest level since spring. Freddie Mac said Thursday that lenders were offering the 30-year loan early this week at an average 4.13%, down from 4.28% last week.” Read Reckard’s full story, here.

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

Graphic courtesy of Freddie Mac. 

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