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...]

Santa Monica Homes for Sale 1st Qtr 2014 Market Report

Santa Monica rea estate market 2nd Qtr 2013 in review

Let's see how the Santa Monica real estate market is doing with the shortage of inventory. How does the first quarter of 2014 compare to the same period in 2013?  Santa Monica zip codes differ in pricing and demographics from each other and will be reported separately. The percentage difference is over the same period in 2014. Santa Monica single family 90401 - this is primarily a business district so you will see little or no activity here. Sold +/- Median % … [Read more...]

Wilshire Corridor Condos 1st Qtr 2014 in Review

Wilshire Corridor condos the last month in review

Another quarter has flown by so let's see how Wilshire Corridor condo sales are doing. Have they slowed down like the rest of the Los Angeles market? The +/- stats are compared to the First Quarter of 2013. Building Sold +/ Price/ Median Price Avg. Price Per Sq. Ft.++ Total Active Price/ Median Price Pending Beverly West* 0 N/A N/A $1,444.01 3 $5,552,000 0 Blair House 0 = N/A $566.46 3 $1,050,000 0 Crown … [Read more...]

Moving to Los Angeles? Be Prepared for Sticker Shock

Be prepared for sticker shock when moving to L.A.

Many prospective home buyers or renters who are moving to Los Angeles, either for work or to be closer to their family, don't have a realistic idea of the cost of housing in our fair city. I will often receive emails asking me to help find homes to rent under $2,000 or to buy under $300,000. Take a look at where you would need to start at a minimum, and I do mean minimum. Single family homes - $850,000 Condos - $450,000 and this would probably be a one-bedroom. Leases - $2,500, but … [Read more...]

Buying a Home for Your Kid in Los Angeles May Make Sense

To buy or not to buy a home in Los Angeles?

There are occasions when buying a home for your kid in Los Angeles may make sense. You have a child who will be attending college in Los Angeles and will be looking for at least four years of rental accommodation.  They may be happy sharing with other students in which case the cost of renting could be reasonable depending on what kind of place they find and where it is located. However, the son or daughter who is moving here for their first job probably is past the apartment-sharing phase … [Read more...]

Buying a Home in Los Angeles What is Escrow?

How to buy a home in Los Angeles, The Escrow Process

If you are an out-of-towner buying a home in Los Angeles you may not be familiar with the escrow process. In fact I sometimes forget that fact and half way through the process find out that my buyers, or sellers are totally lost and sometimes want to use the services of an attorney. I would never discourage anyone from seeking the advice of an attorney, but unless there are complications, or you are purchasing a home directly from a developer, it is often a waste of money. It would be almost … [Read more...]