West Los Angeles, CA Real Estate News

By Robert Leighton
(Sotheby's International Realty)
Downtown areas all around the country are usually the safest places in a housing downturn.  But you still hear it all the time how the real estate bust has been affecting one city more than another.  But one thing we have learned is that housing prices fare the best in the core of big cities.  Los Angeles, on the other hand, has stood out when it comes to good house prices.  There is no core to Los Angeles .  It's just one extensive string of suburbs that run together. While lower priced homes are loosing their value slightly, the more expensive homes are actually seeing an increase in value.  And the areas most notable place of high end real estate is Westside Los Angeles, where wealthy neighborhoods such as Westwood, Beverly Hills , and Brentwood are more insulated.   Median home pric...
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WESTWOOD REAL ESTATE MARKET INFORMATION  I wanted to let you guys know that I have moved my active blog over to a new location. Visit my blog at http://westwoodmarket.blogspot.com/ . I may double post until the traffic moves over to my new site. Thanks to all the people who have visited me here.
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By Scott McIntosh
(Coldwell Banker)
ACTIVE LISTINGS in WESTWOOD (90024,*25,*64)Average Days On Market< $999,999444$1,000,000-$1,499,9991267$1,500,000-$1,999,999964$2,000,000 <1266 3760  
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Well in my post from a few days ago I reported that the property had received 7 offers. Well the latest news that I heard was the property had 11+ offers on it and is obviously over the asking price.Additionally, this property had company with 3 other properties listed for sale with in 2 blocks of it on the same street. 2 of those 3 have received accepted offers as well in the last week, leaving only 1 property left on the street active on the market.
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By Scott McIntosh
(Coldwell Banker)
The Office of Federal Housing Enterprise Oversight (OFHEO) announced it has temporarily increased limits on conforming loans offered by government-sponsored enterprises, Fannie Mae and Freddie Mac, from $417,000 to as high as $729,750 in fourteen counties in California for loans originated between July 1, 2007 and Dec. 31, 2008. Fannie and Freddie are reported to be working out new underwriting standards and expect to begin offering the new loanssoon.Additionally, the government raised the conforming loan limit for mortgages guaranteed by the Federal Housing Administration, and has begun offering the maximum limit of $729,750 for 14 California counties, up from $362,790, for loans originated between now and Dec. 31, 2008.By raising the conforming loan limit to $729,750 in LA County, we ...
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By Scott McIntosh
(Coldwell Banker)
As reported earlier as my 'can't miss' open house for Sunday March 9th, there was definitely a huge turnout by interested buyers today. The listing agent informed me that she has recieved 7 offers already and the deadline for offers will be Monday March 10th. She expects there possibley will be a few more offers turned in by the deadline. Camden Avenue was definitely buzzing today with 4 properties open for open house in 2 blocks of each other. This property at 2337 Camden was by far the most appealing as evident by the multiple offers already.
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Taken From http://metro.net/projects_programs/westside/meetings.htm Meetings Upcoming Meetings Please join Metro at one of the following meetings to update the public about the results of the early scoping process, the emerging alternatives, and next steps for the Westside Extension Transit Corridor Study. View a copy of the January/February 2008 Presentation for maps with each of the alignments under study. Westwood area: Westwood Presbyterian Church Tuesday, February 5; 6:00 - 8:00 p.m. 10822 Wilshire Boulevard (at Malcolm Avenue), Los Angeles Metro Service provided on Line 20, 720 & 920 Free parking available at the location City of West Hollywood: Plummer Park Wednesday, February 6; 6:00 - 8:00 p.m. 7377 Santa Monica Boulevard (at Plummer Place), West Hollywood Metro service provide...
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The word 'Foreclosure' has been in the media frequently lately. Headlines all over the news, papers and internet media outlets say that foreclosures are rising at an alarming rate. And that California is one of the leaders in the number of foreclosures in the country. Great news for buyers right? Well it could be depending on which region you would like to live in. Let's focus on the West Los Angeles region, where I work.The numbers that the media reports are true to some extent, but they fail for the most part to truly educate where these foreclosures are primarily taking place. I get a fair amount of potential buyers at my open houses, here in the West LA region, who talk about and are looking for a foreclosure in the area. These buyers tell me that they are reading and hearing from t...
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By Dom Naidoo, Malibu to the Marina Real Estate
(Westside Properties)
REDUCED!! Rare, stylish, contemporary 3 bedroom, 3 full bath, all one level w/loft ceilings. Bright, quiet, west corner facing w/green belt views. Wood floors throughout, balcony, fireplace, inside laundry, granite breakfast bar, walk-in closets. Full gym just steps away. Secuirty building, 3 parking spaces! Close to CBS, MGM, Sony & Water Gardens. Please click on any picture for more information and pictures.To preview the finest Real Estate in Santa Monica, Malibu, Pacific Palisades, & Brentwood please visit my website. Please contact me when you are ready to view the properties or have any questions regarding selling your home.
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I had a very busy day today at my condo open house in Westwood. Suprisingly busy for a Mothers Day. I wanted to blog tonight and mention a reoccuring topic that has been coming up lately in my open houses. The topic is, "When are the prices going down?". First of all it is merely impossible to predict such an occurence. But what is fueling this question is an abundance of media coverage and headlines saying that the market is in trouble and prices and sales are going down. Most of these national or even regional articles that are being reported, do not have anything to do with whats going on in the Westside market. The market in West LA remains strong. The housing market for instance is seeing many properties going mulitple offers and going over the asking price. Alot of homes are selli...
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By Scott McIntosh
(Coldwell Banker)
I wanted to share some information about the current conditions in the Real Estate marketplace. The West LA market lives inside its own microclimate, outside the box of normal Southern California or National statistics. And much of what’s going on with the sub-prime woes, foreclosures, or dramatic prices decreases that’s being relayed in the media, is having little effect on the Westside market. With the boom of the crazy accelerated market ending in 2005, we are seeing more of a normal market in 2007 on the Westside. There are still multiple offers happening and quick sales. And homes on the other end of the spectrum that sit on the market for awhile before getting accepted offers. That’s were pricing a home becomes very critical in this market. When it’s priced 'right', homes are sell...
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By Grant Huffman
(CataList Homes Inc.)
*Information provided by the MLS.com* 10/06-4/07# of ListingsAverage DOMLow Price $Median Price $High Price $Average Price $*Avg. Sq. Ft.*Avg. $/Sq. Ft.Avg SP/Avg LP Active------------------ Backup------------------ Pending------------------ Sold LP10975349,000695,0001,599,000716,3401,462486.87-- Sold SP **10979357,000675,0001,550,000701,1981,465478.7298.28% Expired------------------ Withdrawn------------------   4/06-10/06# of ListingsAverage DOMLow Price $Median Price $High Price $Average Price $*Avg. Sq. Ft.*Avg. $/Sq. Ft.Avg SP/Avg LP Active------------------ Backup------------------ Pending------------------ Sold LP24259349,000709,5001,599,000721,6731,431501.45-- Sold SP **24261357,000697,0001,550,000709,3911,434494.6198.78% Expired------------------ Withdrawn------------------   1...
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By Grant Huffman
(CataList Homes Inc.)
*Information provided by the MLS.com*  10/06-4/07# of ListingsAverage DOMLow Price $Median Price $High Price $Average Price $*Avg. Sq. Ft.*Avg. $/Sq. Ft.Avg SP/Avg LP Active------------------ Backup------------------ Pending------------------ Sold LP10975349,000695,0001,599,000716,3401,462486.87-- Sold SP **10979357,000675,0001,550,000701,1981,465478.7298.28% Expired------------------ Withdrawn------------------   4/06-10/06# of ListingsAverage DOMLow Price $Median Price $High Price $Average Price $*Avg. Sq. Ft.*Avg. $/Sq. Ft.Avg SP/Avg LP Active------------------ Backup------------------ Pending------------------ Sold LP24259349,000709,5001,599,000721,6731,431501.45-- Sold SP **24261357,000697,0001,550,000709,3911,434494.6198.78% Expired------------------ Withdrawn------------------   ...
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West Los Angeles, CA Real Estate Professionals