Archive for November, 2007
November 30, 2007
13421 Hubbard St #119
Sylmar, CA 91342
$429,777
3 bedrooms, 2.5 baths, 1,795 sqft
Gated Community
Vaulted Ceilings in Living Room
Family room with Fireplace
Large Master Bedroom with Walk In Closet
Private Master Bath
Upgraded Tile in Kitchen, Din Area, Fam Room & Entry
Inside Laundry Room
2 Car Attached Garage w/direct access
Easy Freeway Access & Low HOA
Seller with help Buyer with non-recurring closing costs
MLS: F1736884
(paste the MLS number in the Redfin search box to take you to this property).
14347 Killion Street
Sherman Oaks, ( This property is located in Sherman Oaks. It’s south of Burbank Blvd.)
$825,000
3 bds, 2 baths,
1,720 sqft
Fully Remodeled and Upgraded, Ready to Move In
Located on Quiet Cul de Sac
Master Bedroom Leading to Backyard and Spa
MLS# F1738256
(paste the MLS number in the Redfin search box to take you to this property).
12134 Tiara St.
Valley Village, CA 91607
$1,849,000
Brand New Construction
4,200 S.F on 11,750 S.F Lot
5 Bed, 5.5 Bath
Viking Appliances
Travertine and wood Floors
Deluxe Custom Kitchen
Gorgeous Backyard
Color Changing Lit Pool
MLS# 07-212821
(paste the MLS number in the Redfin search box to take you to this property).
November 30, 2007
This week, I was appraising a very nice 1400 sq.ft, two bedroom, plus a loft, 2.5 bath condo in Stevenson Ranch. The homeowner told me that she is looking to pull some equity out of her home to maybe purchase a house and rent her condo out. She asked my opinion if this is a good time to buy.
I responded by saying, “…that really depends on your own personal situation. The days of flipping a house in a few months are gone. But if you are looking for a long term gain, I would say, yes.” It was announced today that the Feds are going to meet next week to talk about reducing interests rates again. So with lower home prices and lower interest rates, the conditions to make a home purchase are very good.
I don’t care what critics, news reporters or economists say, no one has a crystal ball to see the future. We don’t know if home prices will continue to drop in 2008 or will suddenly start to turn upward. In 1996, I remember when I made my first home purchase in Los Angeles (Studio City). It was two years after the Northridge quake. The roof of the Fashion Square Mall caved in, apartment and condo complexes collapsed and the foundations of many single-family homes were cracked. The real estate market plummeted. No one had confidence in Los Angeles real estate because no one had confidence in the land the homes were fixed on. And we were constantly being reminded of the strength of that 6.8 quake from the several aftershocks that followed years later.
When I came across my Studio City condo, I loved it and wanted to buy it to make it my home. Several of my friends strongly advised me not to make that purchase. The condo complex had been completely remodeled by a new developer and the building had been retrofitted. Still everyone was saying to me, “Los Angeles real estate is declining. Don’t buy today, ‘cause prices will drop again tomorrow.” Because I wanted to live in this great condo, I didn’t listen to them and made an offer. Today, I am so glad I listened to my gut feeling and ignored the comments from my friends, because a few years later, we saw Los Angeles real estate climb upward and I ended up selling my condo in the year 2000 for a $100,000 profit.
So because I shared this story with the lady who owns that Stevenson Ranch condo, she is going out this weekend shopping for a new house. I am sure she will find a great deal for herself.
November 30, 2007
When I last listed 1375 S Los Robles for an Open House about a month and a half ago it was priced at $2,525,000. This means the listing has since then been reduced 21% with a cut of $530,000 to its current asking.
Meanwhile, 1280 N Arroyo has come down $230,000 since the start of November. May we break out the hyperbole yet?
Listings open from 1 to 4 PM., Sunday, Dec.2
1375 S Los Robles AVE
$2,525,000
Reduced to: $1,995,000 (21% reduction since mid-Oct.)
Beds: 3 / Baths: 4
SQ.FT.: -
1510 La Loma RD (new listing)
$1,280,000
Beds: 4 / Baths: 4
SQ.FT.: 4,300
$/SQ.FT.: $298
1280 N Arroyo BLVD
$1,285,000
Reduced to: $1,055,000 (17.9% reduction since early Nov.)
Beds: 4 / Baths: 3
SQ.FT.: 2,473
Photo: Green Castle, by Camera Ed
via Sweet Digs LA flickr pool
November 29, 2007
As is standard for this time of year, very few new listings are popping up. When you are ready for a break from mall parking lots and the lines at Starbucks, here are some of the homes that will be open this weekend in South Bay Los Angeles.
19321 Anza, Torrance - 3bd/2bth/1360sqft/$779,000 - Sat & Sun 1-4PM
4419 Highland, Manhattan Beach - 4bd/3bth/1973sqft/$1,449,000 - Sat 1-4PM
1760 6th, Manhattan Beach - 5bd/4.5bth/3434sqft/$2,074,800 - Sat 1-4PM
1417 Elm, Manhattan Beach - 5bd/4.5bth/3009sqft/$2,175,000 - Sun 1-4PM
932 17th, Hermosa Beach - 3bd/3bth/2311sqft/$1,299,000 - Sat & Sun 1-4PM
2516 Gates #A, Redondo Beach - 3bd/2.5bth/1818sqft/$772,500 - Sat 1-4PM
431 Calle De Castellana, Redondo Beach - 4bd/2.5bth/2292sqft/$1,269,000 - Sun 1:30-4PM
1340 Palos Verdes Drive West, RPV - 4bd/3bth/2326sqft/$1,775,000 - Sun 1-4PM
3207 S Denison, San Pedro - 2bd/1bth/788sqft/$423,500 - Sat 1-4PM
November 29, 2007
It is common for home sellers decide to take their homes off the market during the winter holiday months. The hustle of shopping, making travel plans and expecting visitors can all make sellers long for a break from preparing from weekend open houses and showing appointments. Those that stay on the market tend to be more dedicated to finding a buyer quickly.
Here are some of the price changes for the PV homes on the market at the end of November:
700 Mexico Place, PVE - 5bd/3.5bth/3318sqft/$3,750,000 to $3,575,000
3604 W Estates Lane #108, RHE - 1bd/1bth/659sqft/$280,000 to $269,000
22 Chuckwagon, RH - 3bd/2.5bth/2403sqft/$2,385,000 to $2,175,000
30339 Kingsridge, RPV - 3bd/2.5bth/2076sqft/$1,139,000 to $1,099,000
5987 Peacock Ridge #107 - 2bd/2bth/1300sqft/$688,000 to $588,000
November 29, 2007
What’s icy cool, tart to the tongue, and known to cause long lines? It’s Pinkberry - the frozen yogurt chain that has been expanding throughout New York and California. And soon, there’ll be another shop in Playa Vista right next to Concert Park. The storefront’s there right now, but not much else.
By the way, the sign says they’re hiring, too. So if you know anyone who wants to get up close and personal with the sweet confection, the opportunity does exist.
November 28, 2007
Historically, home buying always slows down during the holiday season. But that’s why if you are looking for a good deal, it can be a great time for buyers.
Here are some listings if you are looking for a new home in The San Fernando Valley.
7060 Shoup, Unit 195
Canoga Park
$295,000
One bedroom/ One Bath + loft
Pergo flooring/carpeting
New windows/sliding doors
Huge Balcony
Granite counters in bath
Pool/tennis court/gym
High ceilings
MLS# F1742618 (paste the MLS number in the Redfin search box to take you to this property).
16954 Labrador Street,
Northridge
$509,900
Bank Owned Foreclosure
Spacious 1780 sq ft. home
8130 sq.ft Lot with room for a pool
2+2 with convertible den
Fireplace in living room
MLS #C101939 (paste the MLS number in the Redfin search box to take you to this property).
14347 Killion Street
Sherman Oaks,
$825,000
3 bds, 2 baths,
1,720 sqft
Fully Remodeled and Upgraded, Ready to Move In
Located on Quiet Cul de Sac
Master Bedroom Leading to Backyard and Spa
MLS# F1738256 (paste the MLS number in the Redfin search box to take you to this property).
November 28, 2007
Pasadena’s Ritz-Carlton Hungtington, acquired approximately one month ago by a Hong Kong firm, will be known by its new, less-hyphenated name, Langham, Huntington Hotel & Spa come January.
Homes in the area? Still bloody expensive. “Why stay at a luxury hotel when you can live in one?” might be the question you ask once you move in to this 15-room/17-bath, 31,415 square-footer for the low, low entry price of $52 million. Time to apply for that super-mega-jumbo loan.
This and other millionaire digs currently on the market in the neighborhood for you to ponder:
1288 S Oakland AVE
$52,000,000 (Redfin Savings: $1,040,000!)
Beds: 15 / Baths: 17
SQ.FT.: 31,415
$/SQ.FT.: $1,655
2 Oak Knoll TER
$21,500,000
Beds: 9 / Baths: 8
SQ.FT.: 37,000
$/SQ.FT.: $581
1151 S El Molino AVE
$3,750,000
Beds: 5 / Baths: 4.25
SQ.FT.: 5,642
$/SQ.FT.: $665
950 Old Mill RD
$2,450,000
Beds: 4 / Baths: 4
SQ.FT.: -
$/SQ.FT.: -
November 28, 2007
This one is east of Sepulveda Boulevard and just south of Howard Hughes Parkway. For anyone who likes to hang at the Howard Hughes Promenade shops, restaurants, and theaters, this home is pretty conveniently located. The seller was just flexible enough on price and the place sold within two months after listing.
7723 Naylor Ave./3bd, 2bth/1,703 sq. ft./LP $689,000/SP $630,000
There are a few other 3bd, 2bth homes in the surrounding area. The one on W. 87th needs some new cabinets, paint, and wall surfaces before it’s ready to go. Take a look:
6223 W. 87th St./3bd, 2bth/$695,000
7911 Airport Blvd./3bd, 2bth/$750,000
November 27, 2007
In a race we’re glad to be losing (barely), Los Angeles is primed to become “the second-hardest hit metropolitan area” in the nation next year as a result of the foreclosure fallout. A projected economic hit to the tune of $8.3 billion could be heading our way reports CBS 2, putting us just behind New York:
The economic losses would be the result of lower spending and income in the construction industries, as well as reduced consumer spending due to decreased home equity, according to the report, titled “The Mortgage Crisis: Economic and Fiscal Implications for Metro Areas.”
Home prices in California could decline by as much as 16 percent, compared to 7 percent nationwide, the report found.
It seems that everyone is cautioning that we must do “something” to head off this crisis before the situation spins further out of control– but what that “something” is, is what no one seems to know.
