2980 Waverly Drive in Silver Lake

List Price $1,250,000

3 bedrooms • 2.5 bathrooms

1,942 sf • 6,926 sf lot

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Exclusively from Tracy Do Real Estate: Design+Build firm ReInhabit presents their latest remarkable home, a Silver Lake restoration that elegantly embraces craftsmanship and a flair for the unexpected. An ideal layout makes the most of two stories while providing easy access to the huge yard. Best of all this home is full of surprises, from the gothic-style turret to artful, one-of-a-kind details, serving as signatures to the imaginative work of ReInhabit.

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The home appears to be tucked away from it all, benefiting from its deep setback from the street. A gate made from reclaimed mahogany welcomes your arrival. Enter to find professional landscaping that includes fruit trees, stone pathways, a fountain and rolling lawn, a lovely place for gardening, relaxation or play. Approaching the house you’ll reach the first of several entertaining areas: this sunken concrete patio with relief detailing and sculpted “floating” benches.

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Two sets of towering French doors open directly into the living room and are notable as some of the salvaged/reclaimed elements. Many of these pieces are native to the home, which was built in 1926. Others come from LA Salvage, a division of ReInhabit that is dedicated to finding, fixing and re-implementing building materials that are every bit works of art. It gives the home a vintage feel, with original steel-framed leaded glass windows, restored lighting fixtures and medicine cabinets that have been removed, refurbished and re-installed. Yet the house is updated with newer systems including roof, electrical, central heat and air conditioning, water supply lines and an updated foundation.

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The large, beautifully designed kitchen features custom made cabinetry and period-appropriate tile and fixtures alongside contemporary amenities like a concrete sink, appliance garage and walk-in pantry.

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Climb the graceful stairway to reach the living quarters. Vintage elegance combines with ReInhabit’s sense of fun, evidenced by this sliding barn door to one of the upstairs baths and a play-loft that is like a child’s dream come true. Two of these bedrooms are perfect for kids, but they could be guest quarters or an office as well (use the loft for storage).

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The Master Bedroom has a Juliet balcony and en-suite Master Bath featuring a top-of-the-line steam shower, double vanity and roomy storage cabinet. The generous number of upstairs windows provides ample light and elevated southwest views, perfect for taking in the sunset.

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Here’s the expansive rear deck that will host your backyard BBQ’s and quiet morning coffees. Hand-milled pickets make for a sturdy and functional guardrail, with an aesthetic reminiscent of times past. The house sits in a wonderful neighborhood, coveted for being central, easily-accessible and within the Ivanhoe School District. The school is just two blocks away. Also nearby are Trader Joe’s, the announced Whole Foods, the Reservoir, Rec Center, Library, shops and cafés — it will feel like all of Silver Lake is right out your front gate.

ReInhabit spent many months renovating this old Tudor, with no corners cut nor expense spared. If you are seeking modern quality, vintage aesthetics and a great Silver Lake location, you’ve found it here. For more gorgeous photos, head to 2980waverlydrive.com.

For a private tour, contact Tracy Do Real Estate.

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

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You Are Invited!

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Join us for our end-of-summer party and twilight preview of this remarkable house by the design+build firm Reinhabit. It’s an exclusive offering from Tracy Do Real Estate.

We’ll have a taco cart and drinks. Hope to see you!

When: Saturday, August 24th, 5:30 to 8:30 PM

Where: 2980 Waverly Drive in Silver Lake, 90039

Please RSVP by clicking here.

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Sales Rise in July

uparrowFrom Alejandro Lazo of the LA Times: “Sales of previously owned U.S. homes rose in July, as more inventory hit the market and an increase in mortgage interest rates likely motivated buyers. Sales were up 6.5% from the prior month and 17.2% from the same month a year earlier.”

Ricardo Lopez adds that home-improvement retailer Lowe’s saw a spike in 2Q earnings, suggesting “even further evidence that the housing recovery is boosting the economy.”

 

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Houses Local+Global: House Tunquén by Branko Pavlovic & Pablo Lobos-Pedrals

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From the architect: “The house is located in an area with an intricate topography… The dramatic slope is understood from a resignation to the inevitable need to build livable floorplans.”

Sound familiar? Given that so many of our local residences are built on hillsides or in canyons, it seems that this home in Tunquén, Chile would be a great fit right here SoCal.

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From the ArchDaily: “The house is designed as a lightweight volume, entirely in pine wood, set on a concrete base that links to the rockiness of the ground. On the outside, it has worked as a continuous black shell that has been cut and detached from the cover and from the ground, to bring up the openings of the windows.”

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“By contrast, the interiors are continuous and neutral. White grout on the walls and ceiling serves to preserve until dusk the natural light in the inside, and to reveal the variety of colors of the environment.”

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“There is  a generously sized room for parents, and two smaller for the children. A large common space, that includes the living room, the dinning room and the kitchen, works as an articulator of the three ‘arms’ of the house.”

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The full story on this great house, with lots more photos, can be found on the ArchDaily. Click here.

Plans and construction courtesy of Branko Pavlovic, Pablo Lobos-Pedrals and Rubén Marchant. Photos by of Felipe Fontecilla.

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Inventory Up, Affordability Down, Prices Steady

LATlogoWhat are we to make of this information stew? The LA Times Andrew Khouri reports this morning that “SoCal home prices remained flat in July from a month earlier as more houses went on sale and interest rates rose.” This adds to yesterday’s piece which was inventory-specific, ie. the run-up in prices we saw in previous months has sellers feeling pretty bullish (and they should!) So it’s still a “seller’s market” out there. But more inventory = more choice = good news for buyers.

As for the high cost to own, Alejandro Lazo reported Monday that “California’s post-recession moment for housing affordability appears to be ending fast.” This is never good to hear, but we’ll stay positive for the following reason: Developers who sat out the housing recession are gearing up right now, with major housing projects in the pipeline to meet any taste. We’ll have more to say about this soon, as Tracy Do Real Estate will present a modern and quite affordable home ownership opportunity in the heart of Northeast LA. Check back to this website, or contact us anytime at Tracy Do Real Estate.

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

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Silver Lake Rising…

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We’re not talking about how CNN Money just called Silver Lake LA’s “best neighborhood.” We’re talking about a home rising in Silver Lake and it’s pretty great: a ground-up restoration by ReInhabit, builders of quality, artful residences for LA’s most discerning buyers. This exclusive offering from Tracy Do Real Estate will be available soon. Check back regularly or get in touch with us at tracydo.com.

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

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Silver Lake Spanish Gives You Room to Roam

List Price $949,000

4 bedrooms • 3 bathrooms

2,328 sf • 5,000 sf lot

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This 1930’s Spanish style home is just a block from Sunset Junction in Silver Lake.

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Featuring hardwood floors, crown moldings and other period elements, it has been updated for modern living. There’s quite a bit of space, and funny enough — two kitchens(!) That’s because the home is legally a duplex, and could be used as such (though some re-conversion work would be required).

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A private yard completes the picture on this very lovely home. For a tour, contact Tracy Do Real Estate.

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

Listing courtesy of Judith Oroshnik, Prudential CA Realty, Los Feliz.

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Check Out Our Monthly Digest

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This morning we sent out the latest edition of the 3beds2baths Digest, a monthly newsletter covering trends in architecture, design, local neighborhoods, as well as the business-side of real estate. It’s also a great way to see a summary of all the great home listings we have here at Tracy Do Real Estate.

To sign up, click the link on the right sidebar.

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

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Media Reports Say Flipping is Back… Meaning What Exactly?

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With all respect to our friends at the LA Times and NPR, they’re a little late with their reporting on the current “home flipping frenzy.” Fact is, rehabbers have been a driving force in LA real estate for months now. Granted, the number of trucks, cement-mixers and porta-potties lining residential streets seems to have peaked of late. But going back over a year, and in some cases longer, house flippers have been acquiring, renovating and re-selling LA homes for profit. The impact on inventory has been significant, and by consequence we’ve seen values appreciate across the board. So what’s next? For all this flipping business, what does it mean for you?

For starters, it means there are lot less fixer-uppers out there. Buyers seeking bargains or a “diamond in the rough” will be challenged to find one, since so many rehabbers are looking for the exact same thing. Secondly, as these buyers who missed out on bargains revise their budgets upward, settling for more “turn key” type homes, it creates competition for dwindling inventory that is downright fierce. Jed Kolko, chief economist for real estate website Trulia, says: “Consumers are worried that mortgage rates and prices will keep rising before they buy, and many are willing to fight over the limited number of homes for sale.” KPCC ran a piece this morning that echoes that sentiment, you can listen to it here.

This might sound a bit bleak for prospective home buyers, but don’t despair: relief may well be in sight. House flippers are indeed active right now and will likely be around for awhile. But with such low inventory, many rehabbers have already packed up and left LA for greener pastures. Furthermore, rising interest rates are having the intended effect of putting the brakes on things. We don’t predict that prices are going to decline anytime soon, and the vast majority of economists agree. But as more potential sellers realize they have regained much — if not all — of their home equity, we can easily envision a scenario where more residences are brought to market. Add to that the new housing developments that are taking shape to meet rising demand… It certainly appears that the clouds are clearing a bit for home buyers. And that’s a very good thing.

To stay ahead of this market, as either a buyer or seller, you will truly benefit from talking with professionals who know LA and Pasadena real estate inside and out. We’d love to hear from you. Contact us anytime at Tracy Do Real Estate.

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

“Flip or Flop” (image above) courtesy of HGTV, via the LA Times website.

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Good New for Buyers…

MortRateMortgage rates continue to cool off, as reported by Christina Mlynski at HousingWire. Having jumped nearly a point in recent weeks, this is welcome news. Remember: even if you missed out on the “very best” rate, in historic terms the cost of a mortgage today is still quite low — and prices are only rising (!) Need help understanding mortgage rates and loans? Contact Tracy Do Real Estate for friendly advice and expert guidance in all your housing-related needs.

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