Brentwood Los Angeles Homes for Sale. 2014 Market Report

Brentwood Real Estate

Brentwood is a trendy, upscale neighborhood on the Westside of Los Angeles. A mix of apartments and condo buildings to the south and single family the further north you go into the hills. With its high end dining and shopping and high walkscore, Brentwood real estate is in high demand. So how did the Brentwood, Los Angeles real estate market do in 2014? Brentwood single family home sales Sold +/- 2012 Range Median +/- 2013 Active Median 236 -14 $755,000 to … [Read more...]

Century City Condos. 2014 Market Report

Condos for sale in Century City

Century City condos have a mix of full service high rise buildings and gated garden complexes with full amenities.  Away from the bustle and bustle with easy access to shopping and dining, Century City is a great alternative to the Wilshire Corridor. Let's see how 2014 activity compares to the previous year. Building Sold +/- 2013 Median  %+/- 2013 HOD Avg. Price per S/F Active Median Pending The Century* 31 +13 $4,525,000 +19.47 $2,046 to … [Read more...]

How Do I Know if I am Ready to Buy a Home?

Are you ready to buy a home?

You want to buy a home. How do you know if you are ready? Ask yourself these questions: Do I have a steady source of income (usually a job)? Have I been employed on a regular basis for the last 2-3 years? Is my current income steady? How is my bill payment record. That will be determined by your credit report? How many long-term debts to I have? Car payments, student loan, etc. How much money do I have saved for a downpayment? Do I have enough money to make payments every month … [Read more...]

Santa Monica Homes for Sale 2014 Market Report

Santa Monica real estate market report

Let's check in on the Santa Monica real estate market and see how each zip code performed compared to 2013. 90401 - this is primarily a business district so you will see little or no activity here, and the median price bears no weight. Sold +/- 2012 High/Low +/- 2012 Active High/Low Pending 2 -1 $2.375M/$669K -56.76% 2 $5.650M/$4.450M 0 90402 - which includes the areas of Santa Monica Canyon, North of San Vicente, and North of Montana and the northern part … [Read more...]

How Does Buying a Home Compare With Renting?

Buying a home vs renting, the benefits

One can get very comfortable in a rental situation, but there is no comparison between owning your own home and renting. There are a couple of advantages to renting: one is being generally free of most maintenance responsibilities, and the other is not having to worry about making your mortgage payments should your financial situation fluctuate. But by renting you are paying someone else's mortgage and you lose the chance to build equity, take advantage of tax benefits and protect yourself … [Read more...]

Beverly Hills Homes for Sale. 2014 Market Report

Beverly Hills Real Estate, Beverly Hills Real Estate Market Trend

Curious about how the Beverly Hills real estate market performed in 2014?  Let's take a look. Since the demographics of Beverly Hills vary the stats are broken down by zip code. Beverly Hills Single Family Homes 90210 Sold +/- Median +/- Active Median Pending 240 -34 $3,412,500 -3.83% 125 $4,995,000 25 90211 … [Read more...]

How Do You Improve the Value of Your Home?

Do upgrades add value to your home?

Buyers generally seek the least expensive home in the best neighborhood within their price range. Upgrading your home to stand out on the block is not necessarily going to add value. For example if neighbors are all 3 bedrooms, 2 baths and 2,000 square feet additions that make your home into a 4 bedroom 3 bath, 3,000 square foot house is going to price you out of the market. Improvements should make it show well and fit well in the neighborhood. You don't want to put good money into your … [Read more...]

How Will my Home be Marketed Once it is Listed For Sale?

How will your home be marketed?

As you’ll see in the video, every home and market is a unique situation. Good marketing plans are specific to both. But every plan will include: Preparation Pricing and Marketing Activities. If work is needed on your home preparation may take some time. Your home needs to look its best. It is a good idea to have your own inspection which will prepare you for what the buyer's inspector will find. Then you can choose to make repairs or prepare to offer a credit. Making upgrades is less … [Read more...]

Wilshire Corridor Condo Sales 2014

Westwood, Los Angeles real estate market

Let's see how theWilshire Corridor condo market performed in 2014 and compare it to 2013 activity. Penthouse units are excluded from the statistics.  Building Sold +/2013 Median Price % +/- 2013 Avg. Price Per Sq. Ft.** Total Active Median Price Pending Beverly West* 2 +1 $6,209,000 N/A $1,628.38 3 $7,495,000 0 Blair House 1 -8 $2,146,500 N/A $773.23 0 N/A 2 Crown Towers 2 -3 $535,000 -13.16 $405.92 0 N/A 1 La … [Read more...]

Selling Your Home? How Should You Price it?

Setting the price for your home for sale

This video provides and overview of points to think about when selling your home in Los Angeles. Bottom line your goal is to get the best price AND terms based on the market at the time you are selling. Market conditions interest rates and competition will all affect the amount at which you will want to list. The price you want, and the price a buyer is willing to pay are going to depend on a series of conditions So pricing is somewhat of an art. Other factors include: How your home … [Read more...]

What is a Piggyback Loan and How Does it Work?

Definition of a Piggyback Loan

 Definition and Purpose of a Piggyback Loan:  To reduce the amount of the first loan amount, used in addition to a Borrower's own funds (Down Payment). Advantages of Using a Piggyback Loan:  The Piggyback is typically used to reduce the first loan amount to an 80% level, so as to eliminate the cost of Mortgage Insurance, or to conform to certain programs' requirements of a 20% Down Payment.    A Piggyback Loan can also reduce loan amounts of first mortgages down below a Jumbo … [Read more...]

When is The Best Time to Sell my Los Angeles Home?

How much is my L.A. home wortth?

As you’ll see in this video, real estate marketplaces are generally most active in summer because families with children want to move in before school starts. So more homes are typically available in summer as well. But buyers and sellers tend to balance out in other seasons, too especially in today’s tight market. There may be fewer buyers in late December but usually fewer homes, too. So, prices tend to rise or fall on general demand in that market rather than time of year. However, … [Read more...]

6 Mistakes to Avoid When Selling Your Los Angeles Home

Selling your Los Angeles Home: The escrow process

You are getting ready to sell your Los Angeles home. Here are some mistakes to avoid - take some notes from the video! 1. Don’t Sell Before The House Is Ready. If it doesn’t present well, it won’t sell well. 2. Don’t Over-Improve People buy houses in neighborhoods. If yours is so “improved” that it sticks out you’re hurting your chances at selling. 3. Hire Wrong Make your agent choice for business reasons. Personal relationships matter, but experience and expertise will … [Read more...]

Wilshire Corridor Condo for Lease at The Wilshire Holmby

Condo for lease at 10433 Wilshire Blvd.

If you are looking for a little bit of New York in Los Angeles there is a new condo for lease on The Wilshire Corridor.   The Wilshire Corridor is a two-mile stretch of luxury buildings in the heart of Westwood. Close to UCLA, Century City and Beverly Hills, and a short drive to the ocean, the Corridor is one of the more desirable places to live in Los Angeles, especially if you want to be pampered with amenities such as valet, concierge, pool, gym, etc. Not to … [Read more...]

The New Year is Coming. Get Your Real Estate Ducks in a Row

Get everything ready to sell or buy a home in Los Angeles in 2015

We are nearing the end of yet another year. 2015 is coming. So what are your real estate goals for next year? Are you thinking of buying a home in Los Angeles? Are you thinking of selling your Los Angeles home? If you find some spare time during the busy holiday season it would be a good time to set your goals for 2015. What is the situation with buying a home in Los Angeles right now? Mortgage interest rates are still low, under 4%. However prices are high. So you may be tempted to see … [Read more...]

What’s the Difference Between a Co-op and a Condominium?

Co-op ownership explained

If you live in New York you are going to know what co-op housing is since it makes up the majority of residential units in that city. Los Angeles is the direct opposite of New York. The majority of buildings are condominiums. In a co-op the resident does not own the unit. They have an interest in the building and a share in the stock which allows them to live in a unit in the building. There is usually a co-op association which is a corporation which owns the entire building, including all … [Read more...]

Google is Expanding in Los Angeles. How’s the Housing Market?

Playa Vista homes for sale

Google is expanding its presence in Los Angeles buying 12 acres in the Playa Vista development. It is estimated that this will bring in as many as 6,000 employees. This, coupled with the huge growth of the tech industry in the general area known as "Silicon Beach", is of course good news for the local economy in general and the real estate industry in particular. Where are all of these people going to live, especially in the sellers' market that is Los Angeles real estate at … [Read more...]

Looking For Foreclosures and Deals in L.A? Are You Sure?

Foreclosures are not all they are cracked up to be

It is human nature to want a deal, and there are times in the housing market you can find one, especially in a down market. But this is a case of be careful what you wish for. From around mid-2008 to late 2012 during the recession the housing market collapsed, but L.A. was not hit quite as hard as most markets in terms of foreclosures and short sales. We had our share but again nothing like really depressed communities. Foreclosures and short sales still seem to be on the radar for many … [Read more...]

Buying a Los Angeles Home. How Much Should I Offer?

What should you offer when buying a home in L.A.?

Maybe you have been looking to buy a Los Angeles home for a long time, or just started, but you finally find one you like. You are ready to make an offer. Nearly always, buyers ask me "what should I offer?"  Translation: "How low can I go.?" As you will no doubt know, the Los Angeles real estate market for the most part does not favor buyers. Until recently there was a buying frenzy with as many as 8 nine offers or more on a property. In that situation the answer would be "How high can you … [Read more...]

Guide to Buying a Home in Los Angeles for Foreign Nationals

Foreign nationals buying a home in Los angeles

The purchase of properties in Los Angeles by foreign nationals has seen a healthy growth lately and many may not be familiar with the mechanics. Hopefully the summary below will help shed light on what is really not such an overwhelming process. Step 1 Most foreign buyers are going to be all cash as it is difficult to get a loan. Should getting a loan be an option then a pre-qualification/approval will be required from the lender before an offer can be made. For cash buyers proof of … [Read more...]