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Los Angeles, CA Real Estate News

By COMPASS PALM SPRINGS | Stewart Penn, COMPASS Palm Springs - Broker Associate
(COMPASS)
1014 Larrabee Street (Larrabee Estates) is the newest condo development on the market in West Hollywood. Billed as "Sexy smart, and sophisticated", the new 6-unit development is located on Larrabee Street, just south of Sunset Blvd. The building features six 3-Bed 2.5 Bath condos ranging from 1886 to 2074 sq ft in size with units priced from $999,000 to over $1,150,000. The rate per sq ft varies from $592 to over $680 per sq ft. These prices seem optimistically high given that other newer developments in the area are struggling to achieve lower rates per sq ft. 1200 Sweetzer Ave: Currently listed between $530 - over $600 sq ft 8265 Fountain Ave: Currently listed between $514 - $580 sq ft 1250 N Harper Ave: Currently listed around $480 sq ft 1137 Hacienda Place: Currently listed around $...
Comments 1
By Jane Peters, Los Angeles real estate concierge services
(Home Jane Realty)
There was not much movement on Wilshire Corridor homes this past week. No new listings, no price reductions and no sales. There are 115 units on the market with average days on the market at 147.With more than 3 years of inventory on the Wilshire Corridor, this is an area in which buyers should be looking. Search Wilshire Corridor homes for sale and leasewi  
Comments 13
The Market Lofts in South Park Downtown LA is a newer construction loft complex located at 645 W 9th, right about the Ralphs supermarket near FIDM.This 2 bed, 2 bath loft is an approved short sale priced at $480,000, with HOAs of $694/mo - which does include two parking spaces.Downtown Los Angeles is a thriving urban neighborhood in Los Angeles that offers such landmarks such as the Staples Center, LA Live, Nokia Theater, FIDM, Disney Concert Hall, MOCA, and The Dorothy Chandler Pavilion. DTLA is a great place to live, work, and play!www.CarolineSellsTheCity.com
Comments 2
By Jane Peters, Los Angeles real estate concierge services
(Home Jane Realty)
A unit has come back on the market at Park Place in Century City. It is a 2 bed 2.5 bath 1,674 sq. ft. unit for $699,000.  HOA dues are $815 a month.  The unit comes with a tenant through October 2011.  If you are willing to wait for one year or looking for an investment, this might not be a bad proposition.  The rent being paid on this has not been disclosed, but it is anywhere in the region f $3,500 per month give or take. There have been no sales over the past month at Park Place.  There is one unit under contract.  8 units are for sale for a median price of $882,450.  Average days on the market are 94. Find homes for sale and lease at Park Place.
Comments 2
By COMPASS PALM SPRINGS | Stewart Penn, COMPASS Palm Springs - Broker Associate
(COMPASS)
Is A Termite Inspector's Time More Valuable Than Mine? Last week I opened escrow where the Buyer happens to be a licensed Broker. The good news is that he asked that I represent him on the purchase of his new home; the bad news is he requested we use his own service providers. As a courtesy my Seller agreed to his choice of Title Company and Termite Inspector, but we nominated the Escrow Company. Accordingly, I called his chosen Termite Inspection Company to schedule an inspection. My first two calls went to voice mail, with the message being that all representatives were busy and they'd call me back. That didn't happen. On my third and final call I spoke to a live representative, who was painfully slow in taking down my details (I've never used this company before). Finally, when it wa...
Comments 34
By Angela Bond, Los Angeles Real Estate | 310 666 5052
(Keller Williams Realty)
First stop was 323 N Norton, just north of Beverly.  This house has been on the market for 71 days and has seen a price reduction from $897,000 to $848,000.  It's a very pleasant house with an easy layout, good light and a location close enough to Larchmont Village.  There are good details in this home:  a Batchelder fireplace, high ceilings and then modern details mixed in: granite counters in the kitchen, stainless appliances and a redone bathroom in the master suite.  Specs are: 3+2 in 1,534 sq/ft at $848,000.   Moving on to 822 S Plymouth, this would definitely be described as a fixer.  Large spacious rooms invite possibility and some good cosmetic work here could reap a warm and inviting family home.  You're going to need a good imagination and some good contractors.  I'd also rea...
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By Angela Bond, Los Angeles Real Estate | 310 666 5052
(Keller Williams Realty)
Coming up on Sunday, October 10, 2010 from 12:00 - 5:00 p.m, it's the Thirty Third Annual Homes Tour - A View of Life on McCadden Place.  Presented by the Windsor Square and Hancock Park Historical Society. This year the tour is centered around McCadden Place and features five homes - all built between 1920 and 1930.  This wonderful photo to the right, of one of the homes featured on the tour, is taken by Mary Nicholls. If you've never taken the time or had the opportunity to go on one of these tours before, you won't be disappointed.  It's a rare opportunity to view magnificent architecture in one of the best preserved areas of America.  Apart from refreshments and entertainment, there will also be antique cars on display.  Reservations are requested by October 6.   Tickets are $30.00 ...
Comments 0
By Jenny Durling, For Los Angeles real estate help 213-215-4758
(L.A. Property Solutions)
Adorable Silver Lake California craftsman home for sale Are you in the market for a Silver Lake CA home?  If you have been looking for a Calfornia bungalow, this adorable craftsman home could be just the ticket.  The Lightfoots' new listing at 1441 Coronado Terrace is a great little house.  I saw it on broker's caravan during the week and thought it was one of the best properties open that day. This 3 bedroom, 2 bath classic offer alot of original details with updates in all the right places and completely keeping with the craftsman style of the home. The house has hardwood floors, built-in china cabinets, wood moldings and period details throughout.  If you'd like to see it and you are available this weekend, there is a public open house scheduled for 9/26/2009 from 2-5pm.  If that doe...
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By Endre Barath, Jr., Realtor - Los Angeles Home Sales 310.486.1002
(Berkshire Hathaway HomeServices California Properties)
Did you hear that the National Bureau of Economic Research declared that the Recession is over?  I was so amazed when I heard this I had to do some research. Where these people are located, who came up with this statement?  I found out they are headquartered in Cambridge Massachusetts. Now do not start rolling your eyes, I know, I used to live in Boston, MA. I do not know about you, I am confident based on the people that I talk to the Recession is not over yet. My little unofficial survey might not be considered scientific, by asking the Grocery Store Clerks, security officers in the complex I live in, and nevertheless, their response is pretty clear to me.  A strong hearty belly laughing to the contrary, tells me otherwise then what this bureau has declared. Now mind you I am a very p...
Comments 24
By Jane Peters, Los Angeles real estate concierge services
(Home Jane Realty)
Elite Properties have a new listing at Wilshire House on the Wilshire Corridor.  It is a 2 bed, 2.5 bath 2,440 sq. ft. unit on the 16th floor for $2,895,000.  HOA dues are $2,583.91. The only sale at Wilshire Terrace over the past year was the same unit in January for $1,475,000.  $1 million worth of improvements eh?  Watch this space. Find homes for sale and lease at Wilshire House.
Comments 5
By Jane Peters, Los Angeles real estate concierge services
(Home Jane Realty)
There is a new listing at the Park Wilshire on the Wilshire Corridor.  This is a 2 bed 2.5 bath, 1,686 sq. ft. unit on the 8th floor for $849,000.  HOA dues are $1,470.26. No units have sold in the past month at Park Wilshire.  2 listings have expired after and average of 153 days on the market. There are 4 units for sale for a median price of $1,019,950. Find homes for sale and lease at Park Wilshire.
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By Fred Sweezer Sr. CMI, LLC., HUD 203k Consultant
(Hud Certified 203K Consultant)
Water Damage and EIFS Synthetic Stucco Synthetic stucco is quite different from historic stucco.  Historic stucco is basically a plaster made with water, sand and lime.  While the composition of stucco has changed over time, it has always been applied wet over a brick, stone or wood surface to form the visible outside layer of a wall. Synthetic stucco is foamboard and fiberglass mesh attached to a wall that is covered with a polymer-based material which is then textured to look like historic stucco.  It is technically known as an exterior insulation and finish system, or EIFS.  It has been in use in Europe since the 1950s, and in the U.S. since the late ‘60s.  It is often used on wood-framed houses.       Why is water damage a concern? Any building material used on the exterior of resi...
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By Fred Sweezer Sr. CMI, LLC., HUD 203k Consultant
(Hud Certified 203K Consultant)
Eyebrow Dormers An eyebrow dormer, also known as a roof eyebrow, is a wavy dormer that protrudes through the slope of a roof. It contains a window that may be fixed or operable.  The first eyebrow dormers appeared on medieval thatch-roofed cottages, making their way to America in the second half of the 19th century on Queen Anne-style houses after being popularized by Boston architect Henry Hobson Richardson. Today, roof eyebrows can be found on many different types of homes, from post-modern beach homes to converted-garage guest cottages. They are most commonly found on the attic, although they’re sometimes incorporated into basements, garages and additions. Their designs, too, can vary from tall half-rounds to gentle "ocean waves" and geodesic domes. Construction is difficult, howeve...
Comments 3
By Jane Peters, Los Angeles real estate concierge services
(Home Jane Realty)
There is a new listing at the Wilshire Holmby on the Wilshire Corridor. This is a 2 bed 2 bath, 1,322 sq. ft. unit on the the 11th floor for $499,000. HOA dues are $689.40. There have been 5 sales over the past year for a median price of $560,000. Average days on the market were 50. Presently there are 5 units for sale with a median price of $399,000. Find condos for sale and lease at Wilshire Holmby.
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By Endre Barath, Jr., Realtor - Los Angeles Home Sales 310.486.1002
(Berkshire Hathaway HomeServices California Properties)
Seller's Agent Should always be present at a home inspection. Period!I have just  read a post which was featured from Chandler Arizona. Instead of writing a long comment I felt it deserved a post as a rebuttal. I disagree with the concept of not having the Listing Agent Present due to a number of reasons; I will just mention the most important ones: •1.       The protection of the home is still the Listing Agents' Responsibility i.e.: legally •2.       The seller's agent is more familiar with the property and many times home inspectors have questions where certain things are located. Age, size, etc. •3.       The seller's agent should just be physically present and if needed he or she can answer the questions and if not, then the agent can contact the seller via phone or e-mail and get ...
Comments 18
By Jane Peters, Los Angeles real estate concierge services
(Home Jane Realty)
There is a new listing at the Wilshire Holmby on the Wilshire Corridor.  This is a 1 bed 1.5 bath, 1,105 sq. ft. unit on the the 9th floor for $495,000.  HOA dues are $914. There have been 5 sales over the past year for a median price of $560,000.  Average days on the market were 50. Presently there are 5 units for sale with a median price of $399,000. Find condos for sale and lease at Wilshire Holmby.
Comments 2
By Jane Peters, Los Angeles real estate concierge services
(Home Jane Realty)
    There is a new listing at The Mirabella on the Wilshire Corridor.  This is a 2 bed 2.5 bath, 2,818 sq. ft. unit on the 6th floor for $1,195,000.  HOA dues are $1,980. Only one unit has sold at The Mirabella over the past year for $1,415,000.  Days on the market, 217. There are 3 units on the market for a median price of $1,249,000. Find condos for sale and lease at The Mirabella
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In trying to build more awareness of Downtown LA housing options as well as the various points of interest, I wanted to let you know about the Downtown LA Housing Bus Tour this upcoming Saturday, September 25th, 2010.The bus tour offers viewings of 6-7 residences both for sale and lease, and also will stop at other points of interest in the Downtown area. If you are curious about what's going on Downtown, or are interested in moving there, check out this bus tour -- it's a great way to great acclimated to the area in style!Sign up for the tour at www.downtownla.com. Enjoy!
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By Courtney Poulos
(ACME Real Estate)
Obviously, we all have a different rhythm when it comes to technology. Some of us are so far ahead of the pack, we're alone. I'm not one of those! But I recently had an almost completely virtual transaction that couldn't have happened without the benefits of technology and if you ain't got it, you are not doing the best job possible for your clients. I was recently contacted by some clients who live in England. They had recently sold a property in the States and had some money they wished to invest in a rental property. I sent them listings via email, and set them up for Listingbook. They found a property that held particular charm for them. I contacted the agent with additional questions. It seemed that there was quite a bit of interest in the property after it had only been on the mar...
Comments 5
By Monique Carrabba
(The Carrabba Group/Keller Williams)
In Los Angeles, I have had many people ask me: "So I would like to buy a foreclosure." No one really wants to buy a short sale but usually when someone says they want to buy a foreclosure that's what they mean. Here is a quick cheat sheet for all of you foreclosure buyers. The first thing that usually happens to a homeowner is they can't pay their mortgage. This triggers a Notice of Default. The lender notifies the homeowner that they need to become current in their loan or risk the sale of their property at a foreclosure auction. If the homeowner doesn't become current on their loan the lender will than file a "Notice of Sale". This is the date the property will be for sale at the courthouse steps. Before this occurs the homeowner may want to do a short sale. This means that they sell ...
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