Bed: 3 | Bath: 3 | SF: 1752
Updated, open floor-plan, spacious kitchen with beautiful cabinets and high end stainless steel appliances, hardwood floors throughout, skylights which saturate with natural light and vaulted ceilings.
(Source: pardeeproperties.net)
—Beverly Hills is luring wealthy individuals seeking real estate investments, driving up prices for trophy apartment buildings in the city. Buyers with high net worths are accepting lower and lower capitalization rates, creating a feeding frenzy in this competitive market.
(Source: businessweek.com)
Foreclosures in the state are still high. Sales of new homes are at historic lows. And millions of homeowners are underwater on their mortgages. So what’s the outlook for 2011 and beyond? By Alejandro Lazo, Los Angeles Times January 1, 2011 As housing recoveries go, this one is in need of a cure. Homeownership — and the buying and selling of residences — is an economic keystone that carries overwhelming weight in Californians’ personal sense of financial well-being. But the momentum of the state’s housing rebound has faltered, with sales falling and prices softening despite bargain-basement interest rates. Foreclosures in California are still high. Sales of new homes are at historic lows. The construction sector is in the doldrums. And millions of the state’s homeowners owe more on their mortgages than their properties are worth. Real estate historically has helped give a boost to economies exiting a recession, but the severity of this bust is nearly unprecedented: Californians have lost $1.73 trillion worth of equity in their homes since prices peaked in 2007, according to Moody’s Economy.com.
(Source: Los Angeles Times)
Freddie Mac announced in a statement today that the average rate for a 30-year fixed loan rose to 4.86 percent in the week ended today from 4.81 percent. The average 15-year rate advanced to 4.2 percent from 4.17 percent.
What this means is borrowing costs just increased for homebuyers. However, borrowing costs are still near historic lows. The 30-year fixed rate averaged about 4.7 percent in 2010, the lowest on an annual basis since 1955, according to Frank Nothaft, Freddie Mac’s chief economist.
Simple economics still tell you that it is still a great time to buy while demand, prices, and interest rates are low.
● Residential Single Family, Condo/Townhomes, Multi-Family Income Properties
● New Construction Sales
● Bank Owned Foreclosures/Distressed Properties
● Luxury Estates
● Beachfront/Beachside Properties
● School Districts (Test Scores, Zoning)
NEIGHBORHOODS I’VE LIVED AND SPECIALIZE:
● Bel Air
● Beverly Hills
● Beverlywood
● Brentwood
● Century City
● Cheviot Hills/Rancho Park
● Culver City
● Downtown (Loft Districts)
● El Segundo
● Hancock Park
● Hawthorne
● Hermosa Beach
● Hollywood Hills
● Los Feliz
● Malibu
● Manhattan Beach
● Mar Vista
● Marina del Rey
● Mid Wilshire
● Pacific Palisades
● Palms
● Playa del Rey
● Playa Vista
● Santa Monica
● Sunset Strip
● Venice
● West Hollywood
● West Los Angeles
● Westwood
Playa del Rey: 6517 Ocean Front Walk, Playa del Rey 90293
BREATHTAKING BEACH FRONT 3BR/2BATH MID CENTURY MODERN. MASTER BR/BATH COMES W/ 42 FLAT SCREEN, DVD PLAYER & RECESSED LIGHTING, CEILING FAN, & FROSTED GLASS SLIDING CLOSET DOOR. LIVING RM FIREPLACE W/ REMOTE, MOUNTED 42 PLASMA, DVD PLAYER, HIDDEN 5-SPEAKER SURROUND SOUND SYSTEM. KITCHEN WITH CENTER ISLAND W/ GAS RANGE, STAINLESS REFRIGERATOR & CARRERA MARBLE COUNTERS. 2 PARKING SPACES. ON-SITE LAUNDRY & JOINT ACCESS TO FURNISHED BEACH FRONT PATIO WITH FIRE PIT. $4,600/MO.
Westwood: 10519 Ohio Avenue, Los Angeles 90024
CLASSIC 1930s SPANISH 3-BEDROOM, 2 BATH HOME WITH DETACHED GUEST HOUSE. LOTS OF ORIGINAL DETAIL FINISH: ARCHWAYS, COVED CEILING, HARDWOOD FLOORS, WOOD BURNING FIREPLACE IN LIVING ROOM. MAIN BATH HAS SEPARATE TUB AND SHOWER. FRUIT TREES IN THE BACKYARD. LOCATED ON BEAUTIFUL TREE-LINED STREET. LESS THAN ONE BLOCK FROM AWARD-WINNING FAIRBURN ELEMENTARY SCHOOL. GREAT LOCATION. CLOSE PROXIMITY TO WESTWOOD VILLAGE, UCLA, CENTURY CITY, AND BEVERLY HILLS.
