Inventory is Low, But You Can’t Overprice Your Home

Don't over price your home for sale

Just because the Los Angeles real estate market is low in inventory does not mean that you can go ahead and overprice your home. Here are some examples of why: For single family homes, in an area which covers Westwood and West Los Angeles: There were 73 sales over the past six months, 11 of which had a price reduction during the course of the listing. The sold price vs list of the 62 which did not have a price reduction was 102.54% with an average of 34 days on the market. The … [Read more...]

Increase the Resale Value of Your Home – Los Angeles Times

New homes on the market in Echo Park

Are you thinking of selling your Los Angeles home and wondering whether you should remodel or sell as is? The article below discusses some renovations you may want to consider and also provides my point of view on whether to remodel or not. Increase the Resale Value of Your Home - Los Angeles Times. … [Read more...]

Calculating Your Monthly Payments When Buying a Home in L.A.

Calculating your mortgage when buying ahome in L.A.

You are thinking about buying a home in Los Angeles but are wondering how your monthly payments would change compared with what you are paying now for a rental. Of course your first step will be to talk to a lender who will give you a more accurate estimate and determine the amount of property you qualify for, but before you go that route here is a simple way to get an idea: Let's base our calculations on the purchase of a home at $750,000 and a mortgage interest rate around 4.5%. It is … [Read more...]

What Offer Should I Make When Buying a Home in Los Angeles?

Buying a home in L.A. What kind of offer should I make?

If you are buying a home in Los Angeles and have been in the market for a while, you may not have this question on your mind.  You may be giving it everything you've got to finally be able to call somewhere home. However it is human nature to try and get a "deal". No one wants to overpay.  It is important to keep one thing in mind. If you love the home, and you want it, if you end up with the home you did not overpay. Setting aside appraisals, comps, etc. a home is only worth what someone is … [Read more...]

7 Potential Problems When Renting a Home in Los Angeles

7 barriers to overcome when looking for a rental home in l.A.

Finding a good rental property in Los Angeles is difficult at the best of times. Inventory, although improving, is still low, rents are rising, and the good homes lease quickly. Some of the following items are going to make finding a good lease more difficult: Bad credit or no credit. The first thing a landlord is going to want to see from a prospective tenant is their credit history. Anything lower than a score of around 650 is going to be a problem. This is going to be an ongoing problem. … [Read more...]

To Buy to Sell to Rent? Is Your Head Spinning?

To buy, to rent, to sell. Is your head spinning?

It's a strange phase in the Los Angeles real estate cycle right now, and as in any economic cycle there are winners and losers.  So who are the biggest winners right now? Landlords/Investors After the recession homeowners who were forced to sell are still unable to get back into the housing market, either because of credit issues or because they are being priced out of the market by the competition. There is a shortage of inventory, and there are many cash buyers with deep pockets swooping … [Read more...]

How is the Wilshire Corridor Condo Market Lately?

Wilshire Corridor Westwood, Wilshire Corridor Condos, Buying on the Wilshire Corridor

It has been a while since I have discussed what is going on in terms of sales and leases on the Wilshire Corridor in general. Overall movement on the Corridor is rather sluggish. Over the past six months there have been only 62 sales ranging from $359,000  at Wilshire Selby West to $3,200,000 at La Tour. The average days on the market was 82 (higher than) and the sold price vs list price was 94.09% (lower than) the average for other areas of Los Angeles,  The median price of those sold … [Read more...]

Are you the Victim of a Bad Construction Job? Get Retribution

Victim of a bad construction job

LOS ANGELES HOMEOWNERS LIVING IN A CONSTRUCTION NIGHTMARE - GET YOUR RETRIBUTION! Ever had a bad construction experience, Spike TV would love to talk to you:   "Calling all homeowners: If you are the victim of a shady contractor, Spike TV wants to help you. Now in its second season, Catch a Contractor aims to finally turn the tables on shady contractors. Our celebrity host partners with a general contractor and private investigator to hunt down the perpetrator who botched … [Read more...]

L.A. Home Buyers and Renters, Appreciate Your Realtor@

Appreciate your Realtor®

There are good and bad eggs in every basket, so I wonder why the services of the real estate agent, especially when it comes to home buyers and renters, is often taken for granted and under-appreciated. Where else do you get the kind of services we offer and the results we provide at no cost to you? Yes of course agents get paid by the seller (or landlord) and quite well depending on the area we cover and properties we sell, but we often end up spending our time, gas and energy for no … [Read more...]

Any Doubt that the Los Angeles Real Estate Market Favors Sellers?

Los Angeles home sellers we want upi

By now I am sure everyone is aware that the Los Angeles real estate market heavily favors sellers, and I mean heavily. Is this just talk to get homeowners to sell or is it real? The chart below is based on sales over the past six months.   Single Family Community Sold Avg DOM Avg Sales vs List Bel Air/Holmby Hills* 67 122 86.60% Beverly Center | MM* 84 51 99.35% Beverly Hills 78 86 94.61% Beverly Hills … [Read more...]

Can You Still Buy a Home in Los Angeles in This Sellers’ Market?

You can still buy a home in Los Angeles

In this tight Los Angeles seller's market Los Angeles home buyers are becoming more and more disillusioned and ready to give up.  Don't.  You can still get the home you want with a little preparation and  stick-with-it-ness. When a buyer is just starting their search things may look hopeless. They will wander into an open house and go home and think about it for a few days and then ask the Realtor® about the possibility of making an offer. When the Realtor® calls on the home they find that it … [Read more...]

Renting on the Wilshire Corridor, Weigh the Benefits

Living on the Wilshire Corridor is a lifestyle

I often get contacted by people looking rent on the Wilshire Corridor, and sometimes feel there is a misconception of what living on the Corridor is. The Corridor is not a neighborhood, it is an approximately two-mile stretch of Wilshire Blvd. consisting of condo and apartment buildings, beginning at Malcolm Ave and ending at Comstock Ave., and its draw is the high-end, full-service buildings contained therein. However, all things are not equal on The Corridor. These are some of the … [Read more...]

Los Angeles Real Estate by Zip Code 1st Qtr 2014 Report

Santa Monica Zip Code Map, Santa Monica Real Estate by Zip Codem Santa Monica Housing Market Report by Zip Code

If you are looking for Los Angeles real estate by zip code I hope that this market report, broken down by select zip codes will help. If you would like information on the performance of other Los Angeles zip codes please don't hesitate to contact me. Single Family Zip Code Sold +/- Median Price % +/- For Sale Median Price Pending 90007, 90012, 90013 90014, 90015, 90017 90021, 90031, … [Read more...]

Los Angeles Real Estate by Neighborhood 1st Qtr 2014

Los Angeles homes for sale 1st Qtr 2014 mRKET REPORT

Let's check in in the Los Angeles real estate real estate market by neighborhood for the 1st Qtr of 2014 and compare it to the same period in 2013. Which areas favor sellers and which favor buyers? The communities below exclude the cities of Beverly Hills, Santa Monica, West Hollywood, and Culver City, and the communities of Westwood, Brentwood and Century City which are covered separately, as is the Wilshire Corridor The comparison is against the last Quarter of 2013. Los Angeles … [Read more...]

Westwood Homes for Sale 1st Qtr 2014 Market Report

Westwood Los Angeles Community, Westwood Los Angeles Real Estate

Let's see how the Westwood real estate market is doing so far this year compared to the same period in 2013.   Sold +/- Median % +/- Active Median Pending 16 +6 $2,185,000 +29.10 17 $2,795,000 10 Westwood condo sales Sold +/- Median % +/- Active Median Pending 48 -7 $685,000 +24.55 107 $1,050,000 39   Sellers Market Balanced Market Buyers' Market Less than 5 months 5 to 7 months More than 7 … [Read more...]

West Hollywood Homes for Sale 1st Qtr 2014 Market Report

West Hollywood homes for sale 2nd Qtr 2013 in review

West Hollywood is still one of the more affordable communities in Los Angeles. An incorporated city with a high Walk Score, West Hollywood has great dining, stores, galleries, and nightlife, and is a much sought-after neighborhood in which to live. Let's see how the 1st Quarter of 2014 compares the same period in 2013. (The West Hollywood area on the MLS does include neighborhoods just around the city itself.) West Hollywood single family sales Sold +/- Median % … [Read more...]

Culver City Homes for Sale 1st Qtr 2014 Market Report

Culver City Real Estate Market Report

Culver City is one of the up-and-coming areas of Los Angeles. It is one of the more sought-after neighborhoods due to its place on the Expo line which runs from Downtown Los Angeles, to be continued to Santa Monica, and the gentrification of its downtown area with boutiques, galleries and restaurants. How did Culver City real estate fare for the 1st Quarter of 2014 compared with the same period in 2013? Culver City Single Family Sales Sold +/- Median % … [Read more...]

Brentwood Los Angeles Homes for Sale 1st Qtr 2014 in Review

Brentwood real estate market report

How is the Brentwood, Los Angeles real estate market doing? Let's see how the first quarter of 2014 compares to the same period last year. How is inventory affecting sales? Brentwood single family home sales Sold +/- Median +/- Active Median Pending 33 -11 $2,530,000 +17.67% 73 $3,995,000 17 Brentwood condo sales Sold +/- Median +/- Active Median Pending 38 -11 $776,000 +11.65 50 $769,000 13   Sellers … [Read more...]

Beverly Hills Homes for Sale 1st Qtr 2014 Market Report

Beverly Hills real estate market report October 2012

It's time to take a look at the Beverly Hills real estate market. Let's see how the first quarter of 2014 compares to the same period last year. Beverly Hills home sales Sold +/- Median % +/- Active Median Pending 33 +9 $5,325 +20.73% 59 $6,999,000 26 Beverly Hills condo sales Sold +/- Median % +/- Active Median Pending 25 -1 $1,225,000 +58.06 40 $1,214,600 11   Sellers Market Balanced Market Buyers' Market Less … [Read more...]

Century City Condos 1st Qtr 2014 Market Report

Century City condos for sale market report

If you are buying a condo in Century City, you will want to see how the market is doing lately. Together with the Wilshire Corridor, Century City has one of the few concentrated collections of full-service high-rise communities and, unlike the Corridor, gated ones, with grounds in which to walk.   Let's see how the first quarter of 2014 compares to the same period in 2013? Building Sold +/- Median % +/- Avg. Price per S/F Active Median Pending The … [Read more...]